Member Info for Helpful

Https://mailchi.mp/southerncrossgold/southern-cross-gold-debuts-on-the-asx-18245594

Christina is closer still to our acreage...

DYOR

I couldn't have put it better myself.

$2,748.09

Not good for the gold shorts....

Very good for gold assets.

DYOR

*Nike, RRR has a lot of exposure to gold

$2,743 big boy. Another short gone wrong?

😁🤣

Investing in shares/companies is supposed to be for personal gain: perhaps you missed that point?

Https://x.com/DavidLenigas/status/1849878858524168518?t=vDFlGMLp9yyWEgmglWiVSQ&s=19

DL would know better than me.

Cue all the trolls wetting themselves.

DYOR

Check his Twitter feed and the RNS wednesday.

Https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02871279_NPS-3A653987

So it is keeping Nagambie. Note the comment about gold, antimony and gold equivalent.

What is is saying is that Antimony at 4.3% grade is equivalent to 13.1 g/t: ie., huge. If you look at what SXG has been getting and read across you can see that the Antimony is worth a lot more than the gold at the moment.

DYOR

Https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02871295-3A653990

DYOR

All information in the public domain: you would know that if you read anything or listened to any of the interviews or broadcasts.

Anyway, tell us about the Gold shorts: did you finally get one right this week?

DYOR

Note at Yamassoukro, Kobo Resources started off with the intention of going down the alluvial route: they are at the Southern end of Lake Kossou, directly across the lake from us and at the southern most the licences are contiguous.

They decided the grade in the hard rock made that more attractive to them.

DYOR

You lot are fixated on a company you are not invested in. Assuming any of you can read and do read: did you read the following?

"The Placing proceeds will be applied to year-end accounting costs, acquisition and transport of gold mining equipment, commencement of gold operations in West Africa, Australian and Kenyan operational and professional costs, and other working capital purposes."

With Sam, the idea was to use his kit in BF. The above relates to Billings and him getting going there. So in this case, RRR is buying at least some of the necessary kit.

Sam's kit follows at a later date. No idea at what level of production will produce but presumably not at the level postulated by Sam and RRR.

https://www.londonstockexchange.com/news-article/RRR/update/16722239

"The Company notes that it has submitted and remitted payment for samples to be tested by SGS in Yamoussoukro and expects results as soon as payment is received. The samples include 75 termite mound samples from its two granted Côte d'Ivoire licences: the Yamoussoukro licence, covering some alluvial areas, and 19 rock chip samples from the Djekanou licence. All samples were tested for multi-elements and those from Djekanou tested in addition for their potential lithium content.

In parallel with its preparation for exploitation of the alluvial gold potential of its Burkina Faso licences, the Company is preparing for potential alluvial production in Côte d'Ivoire."

Those results should have been back by now but will need interpreting and putting into some sort of coherent whole.

DYOR

Ah, Super Accountant getting all precious again. If I were him, I would concentrate on Zephyr. Lunch money here but serious money at Zephyr (according to him) 🤣.

Go on Lycra Boy, bore us with your stories about how we should be looking at AISC instead of marginal cost when looking at alluvial gold.

I know it is contentious but I did tell you what the issues were likely to be at Zephyr. 😁

Let me tell you another one about directional drilling and "out of bounds" or maybe not.

DYOR

Doggie, and have you bought? No, and there you have not got in cheaper. Let me know when you have actually put your hand in your pocket.

xx

Talkie,

unusually you said something accurate. This exactly the sort of situation where "Game Theory" is applied. You might want to apply "Monte Carlo Simulations" etc.

But you failed because you then go on to say that it fourth outcome was it might take another two years. I didn't comment on the timing merely the potential outcomes. The timing doesn't affect the potential outcomes.

Yes, RRR is in a very good place. I can understand why it might seem it is in a bad place to uninformed observers. RRR needs to get BF up and running asap, ideally next week. It does seem we are nearly there in DRC but who knows? Soma should be up and running at El Limon fairly shortly. Elephant might have got something boxed off, again, it ain't done till it is done.

For me the biggest issue remains bandwidth. RRR has several company makers but all added together they are too much for a small company with limited management capacity. AB/RRR needs to get some of these off his desk asap.

I have no doubt that if BF was the only thing that AB/RRR had to deal with, it would already be in production.

DYOR

Kam, all very interesting but irrelevant to what is at hand and the overview I posted.

1. There is no doubt that Musonoi and the two other licences were JV property.

2. There is no doubt that the JV property was sold via Gecamines to Glencore.

3. How do we know this?

4. VUP issued proceedings against Gecamines and Glencore jointly for the non-payment of $15m ($5m having already being paid).

5. RRR intervened in the case and established to the satisfaction of the Commercial Court in Lubumbashi that the assets were JV assets and sold without RRR's knowledge or agreement.

6. The Court awarded RRR damages and costs against VUP.

All of the above is fact. No Walter Mitty stuff or made up stuff. Following on from that,RRR is due 50.1% of the $20mil and in reality should have had 50.1% of the $420mil.

What is at hand is the conclusion of what happens to the $15mil. Only three possible outcomes: All the money goes to VUP, all the money goes to RRR or the money is split between the two parties.

DYOR

So, I hadn't seen the Twitter posts late last night, footie is more important. Now I have...

1. AB obviously anticipated that the Arbitration was going to be done late last week/over the weekend.

2. The intervention of the dodgy solicitor delayed things but changed nothing.

3. The "blaming it on Australians", was 1620 Capital: John Boardman and Jason Brewer.

4. The invitation was to the Private Office of the Head of State. So it seems we are involved with a pet project of the President.

5. In one of his broadcasts, he mentions being a British company, not Chinese, Australian or Canadian. He was quite obviously suggesting that RRR has got itself in a niche where it is trusted in DRC.

6. Why would the Private Office want to deal with RRR or similar and why would it want to do a deal about revenue from the deal being allocated to a pet project?

7. The main thing is corruption. If RRR were to do a deal via the normal mechanisms, a parastatal like Gecamines would take a stake and royalties would be paid. The revenues would disappear into the general maw of expenditure and might make it nowhere near said "pet project".

8. He said an asset(s) similar in size and quality to Musonoi.

9. When we got Musonoi he said, 400,000 tonnes of copper and 24,000 tonnes of cobalt. Glencore paid $420mil for it via a backdoor deal. Musonoi grade was around 3%.

10. If the Private Office has a pet project then you would expect it to be substantial and so the amounts diverted to it would be substantial. Consequently, the Private Office needs a counter party that can deliver and is untainted by corruption and poor practice.

11. He says "immediate revenue": well that can only be either tailings or material previously mined and sat at surface. Immediate probably indicates the latter. Therefore the asset(s) are already known.

12. From the broadcast, it seems that they are close to Lubumbashi.

13. I expect we will get an update on BF and CDI shortly.

14. And no trolls, I didn't take the placing.

DYOR

$2,751......

$2,748