Member Info for Helpful

Https://twitter.com/88EnergyLtd/status/1788734583795798504?t=3kze0mYI425Eye-Mxszb1Q&s=19

Neighbours of Elephant Oil and Recon Africa.

Proving up the Damara Fold Belt on their acreage.

Damara Fold Belt crosses Recon's acreage, 88E's acreage and Elephant's acreage.

Recon is drilling in June.

DYOR

Get back to your bottle.

Forgot to post about this

https://apanews.net/drc-still-without-a-govt-four-months-after-polls/

Looks we can now get on with arbitration.

Fingers crossed.

DYOR

Nike, it is clarity. I do my research and think things through. I double check things. I work on the numbers.

It is like Dumber and Dumber going on about Soma Gold: the information is in their AR, it is on their website and it is in their latest presentation all of which I posted. But according to Dumber and Dumber, I am misleading people by posting Soma's AR, presentation and linking to it's website.

The movie had nothing on these two.

DYOR

$2,346.

Sweet dreams

At the bottle again I see.

PS I don't expect you to listen to what I say. Go and do your own research, do your own numbers. You need a piece of paper, a calculator and a pen. Work though the scenarios; what if..... it is called "ranging". The most important factor is the grade; 3% grade in the "free" gold and we will be seriously making money.

There is obviously decent gold otherwise "illegals" wouldn't be there.

DYOR

You miss the point:

Semi-mechanised is a regulatory status and operation. They have three: artisanal (manual) no licence required; semi-mechanised, exploration licence required, can use some kit but not at volume; mechanised, production licence required, can use kit at volume, must have an EIA etc.

Semi-mechanised is regarded as part of the process required to obtain a production license. So we will be doing "trial" production in different parts of the licence.

So to go to serious volume, we need the production licence and that will probably take till November to obtain. In meantime we can produce and sell.

At volume the restrictions will be the throughput of the kit and efficient mining and operations on the ground: 10kg a day should be doable. It seems like we had 4/6 sites on the licence, do minimising the bottlenecks should be easy.

DYOR

Nike not annoyed in the slightest, it is like dealing particularly obnoxious children.

As I said just now and several times before, all we can do is model and make guesses or best guesses.

We can make some broad points and incorporate them:

The alluvial is necessarily shallow by its nature.

The marginal cost should be lower as a consequence compared to hard rock at depth.

We are doing semi-mechanised (which has a regulatory meaning in West Africa) as opposed fully mechanised; which is less efficient and therefore more costly.

It seems we have "free" gold and saprolite. Saprolite is degraded rock which has lost its structural integrity but will have "fixed" gold in it. Grade affects marginal cost. I don't know because no one "knows" but it seems like the free gold is around 2 g/t and with the saprolite maybe 4 g/t once crushed and processed

Regardless there will be areas of higher grade and lower grade: just the way it is.

So finger in the air at volume, fully mechanised maybe $300/$500 an Oz. Now, getting going on a semi-mechanised basis maybe $700/$900 an Oz but rapidly dropping as we get good and identify where the high grade is.

I have a fully interactive model which accommodates tax, royalties etc and splits but again until we are doing it no one knows; it may be that in the first stages RRR's share is somewhere between $500k and $1mil pm. Free cash would be higher because spending on work is deductible and would therefore reduce the Corporation Tax and it would reduce the splits.

The real money is when we go fully mechanised. Fully mechanised should be serious volume.

DYOR

Nike,

the alluvial is shallow by nature of being alluvial.

Both Boulon and Bilbale but mainly Boulon seem to have the possibility of being an open pit mine.

No one knows yet how deep the hard rock mineralisation goes: they need to drill.

Apart from producing the alluvial.....

The first job is to identify areas of high grade alluvial deposits, the second is to progress the EIA so we can get the permit for Mechanised Production and the third is to do the hard rock drilling and prove up a resource.

Until they are onsite and doing the doings, no one *knows" what the production will be: they can model it and make guesses but they need to get on the ground.

As to size you can infer from flying in 23 specialists and employing 70 locals it ain't small.

The licence is 183 km2 and it is just one license.

DYOR

"Absolute Scum". Let's go through it again.

Sold out of RRR at a profit. Thought he was missing out and so bought back in and lost out because of his greed but it is all Bell's fault.

Spent months insisting RRR would not get its Kenyan licences reissued, largely coming out with the sand drivel as now. So certain that he swore he would pay £1,000 to a charity of my choice. Never did, even though he is "a man of my word".

Spent months insisting Musonoi was worth nothing and no one would buy it, just as Glencore was paying $430m in a back door deal.

Spent weeks insisting I was dodgy because I took the last placing. When I confirmed I didn't, I am now "absolute scum" because of some other reason (yet to be determined).

When I confirm, repeatedly, Soma's own numbers, including the relevant links, I am trying to ramp the price to exit from a placing I didn't take.

Bottom line you don't like being exposed as exactly what you accuse other people of being.

DYOR

Https://twitter.com/goldseek/status/1788573561990295895?t=DR94q7J-wgQwdbhcdQUm2g&s=19

DYOR

I am told that some people can't read or they can read but don't comprehend or can read and comprehend but like to pretend they can't so they can make important statements when really they have nothing to say...

From my post below...

"El Limon was a success for RRR, it sold out of a complicated asset that RRR did not have the skill set to develop. Para Resources/now Soma Gold still owes RRR $3mil"

So RRR is owed $3m, not $100m or some infinite number. Nowhere did I state RRR was owed more than $3m. For clarity $3m is less than infinity, just to be clear and all that good stuff..

DYOR

Https://twitter.com/goldseek/status/1788573561990295895?t=rAyEyz7yz4xhCG3hbdxIXw&s=19

DYOR

Net Smelter Return Royalty.

https://en.wikipedia.org/wiki/Net_smelter_return#:~:text=Net%20Smelter%20Return%20(NSR)%20is,owner%20of%20the%20royalty%20agreement.

DYOR

Https://finance.yahoo.com/news/soma-gold-reports-end-financial-090000520.html

"Total cash costs per ounce of gold sold(1) for 2023 was US$983, slightly lower than the US$1,002 reported in the previous year."

"Finalize plans to restart the el Limon Mill to process both excess ore from Cordero and ore from formalized small miners"

"This additional feed material justifies the restart of the el Limon Mill, which has been on care and maintenance as production scaled up. We also anticipate lower mining costs due to the transition from mechanized mining to the conventional raise stope method."

DYOR

You will have to excuse Dukey, he can't help himself. He sold out of RRR and made decent money and then bought back in and lost money (all according to him). Subsequently, he has a vendetta against AB and anyone who says anything that is not negative.

He said RRR would not get the licences in Kenya reissued and he was wrong. He said that Musonoi was worthless and no one would buy it, he was wrong.

El Limon is not known as the Lemon because it is a nickname: El Limon means the lemon in Spanish, duh!

El Limon was a success for RRR, it sold out of a complicated asset that RRR did not have the skill set to develop. Para Resources/now Soma Gold still owes RRR $3mil.

As usual with his track record of being right, he maintains his methodology; he checks nothing, switches his brain off and his mouth on.

This is nothing to do with what I say, this is what Soma Gold is saying. Soma Gold is now saying restart of El Limon mill in Q3 2024. Soma Gold is saying 8k oz in 2024, 12k oz in 2025 and 16k oz in 2026. If you want to check, read the recent AR and their latest presentation.

The gold price is now materially higher than it was when the last royalties were being paid. The NSR is not based on AISC but the marginal cost and so the cost will be high $800s/low $900s per ounce. At a gold price of $2,300 and a cost of $900 the margin is $1,400 per oz. Multiply out 8,000 oz x $1,400 x 3% and you get $336,000. Nowhere did I state or imply that Soma is a game-changer but it takes a bite out of corporate overhead. 2025 is $504,000 and 2026 is $672,000.

In 2023 Soma produced just under 33,000 oz of gold, so they know what they are doing. They have stated that they have taken steps to reduce costs and it could be the NSR margin is greater than above.

If gold goes higher than the royalty will be higher, if it goes lower then the royalty will be lower. All of the above is down to Soma, nothing to do with RRR.

But as usual the trolls check nothing and prattle on because they have an agenda.

DYOR

So RRR has reposted this; https://twitter.com/RRR_RedRock/status/1788494234045100090?t=l5OKXVn4PJ2BBTA64TRX-Q&s=19

Says to me that RRR wants people to concentrate on Bilbale and that we have news incoming.

DYOR

Https://www.reuters.com/world/uk/bank-england-likely-move-closer-first-rate-cut-since-2020-2024-05-08/

And so it seems Sweden was the early mover.

DYOR

Oops!

https://somagoldcorp.com/investors/#:~:text=(%E2%80%9CSoma%E2%80%9D)%2C%20listed,operations%20in%20Q3%20of%202024.

Cover page now saying Q3 start.

"Soma”), listed on the TSXV and OTCQB, owns 100% of the El Bagre mine located on a 41,000 Ha property in Antioquia, Colombia. Soma owns two Merrill Crowe mills on the property, a 450 TPD operating mill and a 275 TPD mill set to restart operations in Q3 of 2024. The two mills can be expanded to 1,400 TPD with all permits currently in place."

DYOR