Member Info for Helpful

The trouble with taking these people off is that you get dragged into responding to them and their nonsense. Maybe I will take Zumore off filter next week when the news is out. FYI there are posts going back to 2013 asking Zumore to give it a rest and leave off the repetition on the RGM feed. Note he has never been a RRR shareholder.

Boring Boy is trying to obfuscate and mislead: export and sale are two different words with different meanings. One cannot be substituted for the other and the meaning remain the same.

The plan on ALR changed several times because the rules in Zim changed several times. The rules changed so that you could only sell to an Approved Processing Plant and only beneficiated ore could be exported. There were a small number of APPs and so the local market for unbeneficiated ore collapsed. Being able to export was a big deal and ALR wanted to prove it could successfully export and it did so. This is evidenced by some of the stockpile being in Harare and some in Beira. When it was looked into in detail, there was a significant price difference between what the Chinese buyers would pay ex-Beira and what they would pay ex-China. So the plan was to ship to China and sell from storage in China at spot. The same parties who would be buyers ex-Beira, would be buyers ex-China. In the meantime, the price collapsed for lithium, freight rates went up and the Zim Govt charged royalties on an assumed lithium price higher than what it actually could be sold for. All of this crushed the margin.

So ALR put operations on hold and continues to hold the stockpile in storage at zero cost to the company. ALR did exactly the right thing. At the time the trolls were wetting themselves about companies like Prem, Caracal and Marula stating ALR/RRR should be more like them. Well Prem has spent circa $80mil on a plant that doesn't do what it said on the tin.

I expect that once DRC, BF and Australia are boxed off, ALR will get picked up again but probably after CDI is brought on line. We should know shortly if Billings can walk the walk. Hopefully, it takes about 10/11 days to produced the first kilo of gold.

The other thing that Boring Boy does is constantly move the argument off the issue. Known as moving the gold posts as above: ALR exported lithium by moving it to Beira and will have had to pay royalties to the Zim Govt. You can't export lithium without paying the royalty: the certificate showing payment has been made has to be produced at the border. To move all the stockpile to Beira would mean we have to pay the royalties now: keeping it at Harare means that cash item is delayed.

DYOR

Banbury it is a matter of fact that ALR exported lithium. Hence why the half year report says some is in Harare and some in Beira.

You should know how audit and accounting works.You know, with you being a Super Accountant and all that.

DYOR child

I don't know but strongly suspect AB is en route to his favourite holiday destination.

😁🤞

PS reminds me of Letter from America by Alistair Cooke.

He has a blind spot on Russia/Ukraine. He falls for the "Christian" propaganda from Russia and the anti-LBGT stuff.

He is completely wrong on the Russian economy. He doesn't know the current data. The Russians are about to take one third of its rail cars out of service: it is a rail based economy and this will hit the economy real hard. They started circulating details about their proposals on this last week.

Anyway, who cares? All we want is a bunch of decent results on our projects.

DYOR

"Might just be me but anyone else realise the peice of kit we are highlighting in the RNS a Niton XL2980 is a hand held gun. Costs a fortune $19800 but only weighs 1.53kg with battery. I get why its not being shipped Mike and AB could take it as cabin luggage.

In my head with talk of x tonnes per hour I was expecting more bulk.

No criticism here just really out of general.board interest."

As I said insane. Just admit you don't know about an XRF gun and how it is used. No need for the rest of the blather.

Anyway, we should soon be onsite and then we will see what happens.

DYOR

Https://www.scimed.co.uk/education/what-is-x-ray-fluorescence-xrf/#:~:text=XRF%20allows%20for%20simple%20and,valuable%20for%20production%20line%20testing.

DYOR

And this is why I had you on filter: your posts are just insane.

Your posts about size and cost of an XRF Gun show that quite clearly you did not understand what it is for and how it is used. And you still don't.

The alluvial and colluvial area is about 60 km2: no one is going to use the gun to sample 60 km2. What it is for is deciding where the higher grade is on your immediate prospect and/deciding between different supply dumps.

If you were going to cover a large area you would do conventional sampling.

The way it works on the processing is that you run the plant for a day and then you do a "wash up": basically see how much gold you have produced. So whilst you are processing on a day to day basis you don't know how much gold is being produced until the wash up. The gold content in the alluvial will vary and so we need to know beforehand that we are processing good material otherwise we are wasting time and money. This is where the gun will come in.

Nothing to do with "bigging up", it is just the practicalities.

DYOR

So to explain this in simple terms for the challenged amongst us.

The licence at Bilbale is 183 km2. It seems that the alluvial and colluvial cover about a third of the licence area: so about 60 km2.

It seems there are at least six sites that we can operate on.

At the site where the illegals were, there is material at surface ready to be processed. There should also be a spoil dump.

There are two ways to test where the higher grade v the lower grade material is: lab tests (slow and expensive) or XRF (quick and cheap).

If we just process material without first testing, we could be processing material which has little gold in it.

The spoil dump from the illegals likely has saprolite in it. It is critical to establish grade for the free gold and the saprolite.

One of the issues is that RRR has a working model of 2 g/t free gold and 2.5 G/t saprolite but until they are on the ground doing the doings, nobody knows. If it turns we have areas of higher grade, that is important information.

Spending a month processing 2 g/t free gold is quite different from processing 4 G/t free gold.

Now back to your beer.

DYOR

You still need help Dukey.

Https://mailchi.mp/southerncrossgold/southern-cross-gold-debuts-on-the-asx-18245385

DYOR

Funny as.....

The XRF gun is a fairly easily used method of highlighting areas of high grade without having to send samples to a lab. It won't be as accurate as a lab but it can be done immediately in the field.

Size or bulk has nothing to do with it. We know we have extracted material at surface ready for processing: we don't want to spend time processing material with no gold in it. The XRF gun will make sure we have gold before we process the material.

Separately we can use the XRF gun to test the spoil to make sure we are getting most of the gold.

The XRF gun will also detect other metals and minerals in the feedstocks.

https://www.atecorp.com/solutions/xrf-analysis

DYOR

$2,700.

Looking better.

DYOR

Everything comes to he who waits.

Well it looks like gold has found its bottom and bounced.

Fingers crossed.

DYOR

My point is that they were answered a long time ago but you, nonetheless, in your boring repetitive manner kept asserting the same.

The point being you didn't understand Group accounting for loans or how to check for a Company's charges or the difference between marginal cost and AISC. Not good for a Mr Super Accountant.

Reality and evidence as opposed to opinion appears to have no effect on you.

Just because you sit there festering and imagining things doesn't make them facts.

PS this may be of interest. https://www.lesscancer.org/is-cycling-bad-for-prostate-cancer/#:~:text=Cycling%20and%20Prostate%20Cancer%3A%20The%20Study&text=First%2C%20elevated%20risk%20levels%20were,significant%20different%20rates%20of%20diagnosis.

See reading stuff is useful.

DYOR

Https://elementalaltus.com/elemental-altus-to-release-q2-2024-results-on-august-19-2024-2/

If RRAL gets Berringa into production and we have to start paying a royalty, I would be very happy.

DYOR

Https://elementalaltus.com/project/ballarat/

DYOR

Wasn't it Berringa?

https://www.lse.co.uk/rns/acquisition-of-berringa-gold-mine-complete-i9essctfyhfi35z.html

"RRAL inherits the responsibility for a pre-existing 2.5% NSR Royalty, with total payments capped at AUD$50m, payable to Altus Strategies Plc. This royalty is part of a wider royalty covering actual or potential gold production from a number of licences including that from the Ballarat gold mine. Of the AUD$50m, to date AUD$14.5m has been received by the royalty holder and therefore AUD$35.5m of the capped amount remains."

The Royalty deal was between Balmaine and Altus. It would be interesting to see by how much that liability has reduced. Presumably it would show up in the Altus Elemental accounts.

DYOR