Member Info for Helpful

Tactically, RRR should only approach Big G after all proceedings in DRC have finished.

Once they have been finished and all doubt or arguments about the assets being JV assets has been removed that is when RRR should start the process.

It will also take a little while and some cost to put everything together. It is step by step.

DYOR

News, you need to be crystal clear on your thought process. This all would have been examined as part of the court case RRR joined in with.

VUP was jointly suing Gecamines and Glencore for non-payment of the $15mil, having already already received $5mil. RRR joined in when the case became public. If there was any doubt about ownership, how and why did RRR manage to get a substantive judgement in its favour plus a judgement for costs and compensation. This was in the Lumbumbashi Commercial Court.

This all would also have been examined in the Arbitration Court and was by a senior judge. If there was any doubt about ownership it would have been revealed by now.

It is a non-issue, it is a dead parrot.

DYOR

Doggie, you don't even know what time period is relevant. Perhaps we should call you sheepie?

News, it is how long is a piece of string. It will be down to the board or new board in due course. Likely over at Kilmore we have lithium and rare earths as well but who knows if they are commercial.

They have to balance having enough cash to list for max value with dilution caused by the pre-IPO round.

DYOR

News, they are called a Cadastre; Burkina Faso, CDI and DRC each have one. I have been all over the CDI one to check out who is operating near to us. Like at Lake Kossou we have Koulou Corp to the North and Kobo Resources to the South.

The Cadastres are online.

DYYOR

Thanks

Https://www.lse.co.uk/rns/FMET/acquisition-of-sylvanite-gold-tailings-project-yz5d03su24ulw2k.html

Note 67,051 oz of gold: no 43-101 or JORC. Fulcrum is paying at least $340k.

The Macalder Tailings has similar gold in a Measured JORC plus silver and copper. If I remember rightly, it is 1.24mil oz of silver and 0.3% copper.

DYOR

No one would have believed it would have taken this long to sort out VUP.

Regardless the loss of value caused by successive raises will form part of the claim against Glencore. If Glencore had played things with a straight bat, things would have worked out a lot differently. If Glencore had dealt with RRR directly, as they should have done, then there would have been no fund raises over the intervening period. The loss of shareholder value is down to Glencore's behaviour.

DYOR

Https://www.lse.co.uk/rns/RRR/licences-obtained-at-bilbale-and-boulon-9vil2bnurpmn1uw.html

DYOR

Talkie, Stockbox interview re Burkina Faso

https://www.youtube.com/live/ICZSwt-tIU4?si=GACtw4frD_KGpHTq

DYOR

Do we have a Trabant dealership in Manchester?

Talkie,

First of all RRR has not had it for years.

In the case of Bilbale our contract with the local landholder had to be renewed and with Boulon the licence had to be renewed. See the announcement below from January.

No one is doing any work on a licence without knowing that they can exploit it. Initially the work at Bilbale and Boulon was on the hard rock. Subsequently, after surveying they found they had alluvial at Bilbale.

The problem is how can you exploit it? You need kit on the ground and you need experienced staff used to operating in these countries; it is not as easy as popping down to B&Q. With Sam and Willem we have partners who know their way around these places. With the alluvial, you would only bother if it was substantial. They have done their surveys and Willem has confirmed the work. Hence, they are going to operate initially on four sites at Bilbale.

https://www.londonstockexchange.com/news-article/RRR/central-and-west-african-assets/16301442

https://www.londonstockexchange.com/news-article/RRR/asset-review-current-developments/16209620

https://www.rrrplc.com/wp-content/uploads/2024/04/2024.02.29_RRR_Burkina_Faso_Alluvial_Project_Presentation_2.pdf

Note the Moratorium has been lifted.

"With over 10 applications prepared for prospective ground once moratorium is lifted, to be ready to file immediate applications for further areas"

NB with also have alluvial in CDI at Yamassoukro/Lake Kossou.

If the alluvial works out okay at Bilbale, I expect that RRR will do the same elsewhere.

DYOR

Dukey, I really do have better things to do than meet up with you. I am going to be washing my DVDs that day: whichever day it is.

Though if Faso has confirmed its initial production figures I might change my mind. It would be nice to have you explain; why you are so wrong on Musonoi, why you were so wrong on Kenya, why you haven't paid what you owe to Christie's and why you are so wrong on Faso?

DYOR

Ah Dukey, the man who is not a shareholder and said he never would be, the man with the astonishing track record. Sold out of RRR at a super decent profit and bought back only to lose out; wrong on Musonoi said no one was interested in buying it just as Glencore was paying $430mil for it; said RRR would never get the Kenya licences reissued but wrong again; said RRR would never produce gold in Bilbale (about to be wrong again?).

The malevolence seeps out of letter and word you type. Not everyone is like you; someone who stated he would pay £1,000 to charity if RRR ever got its Kenya licences reissued but to date has never paid.

Morals and ethics; zero rating.

DYOR

Neighbours....

https://finance.yahoo.com/news/reconafrica-announces-operations-joint-venture-100000098.html

NB Elephant Oil has the Damara Fold Belt on its acreage too as does the JV between Monitor and 88 Energy.

DYOR

Https://www.gold.org/goldhub/gold-focus/2023/11/gold-miners-aisc-still-rising-slower-pace

DYOR

I don't know where this $2,100 has come from but I suspect it has come from our resident "partly qualified accountant." If it has, he is quoting AISC. AISC relates to hard rock not alluvial and is a valuation metric, it has nothing to do with FCF, profitability or alluvial mining. I have explained this but he persists. For instance take Soma Gold; they have stated that their marginal cost of production is a little over $900. They are in hard rock and mining at depth.

Alluvial is $300/$500 ish per ounce dependent on grade. It might initially be a bit higher at Bilbale because we are not fully mechanised.

https://digitalcommons.mtech.edu/cgi/viewcontent.cgi?article=1007&context=mine_engr#:~:text=All%2Din%20sustaining%20cost%20is,both%20investors%20and%20mining%20professionals.

A big element of AISC is the cost of replacing what you have mined. In alluvial mining you simply mine what is there and then move on.

DYOR

News, if you check out one of AB's interviews, he states that he thinks Berringa could be brought into production in about 18 months. To do that RRAL would need a JORC, a mine design, a PFS and a BFS. To move that forward in the time frame means drilling now.

AB thinks that he can see a route to a quick JORC through accessing the Level 2 Adit. He has also said that he thinks that there is between 200k oz of gold at Berringa and 2mil. How can he say this? Well the last drilling they did was not for grade and quantum, it was for structure. Before they drilled they created a 3D model of the Berringa deposit. The drilling was designed to prove that the 3D model was correct and the drilling did confirm it.

So having confirmed the 3D model the next step is get the JORC proved up. Note that the drilling was open as to depth and along strike. What does that mean? It means that the deposit is bigger than postulated: hence the variance in AB 's estimate.

https://www.londonstockexchange.com/news-article/RRR/drc-and-australia-gold-asset-update/16332837

DYOR

Nike. Victoria gold stocks were hot post Fosterville South. It took too long to get the licences issued, largely because of COVID.

Post COVID the brokers' appetite for listing Victoria gold stocks was less on AIM, ASX and TSX. That has now changed for obvious reasons.

My view is RRAL will list on ASX: they will sign up a broker, do a pre-IPO fund raise circa USD500,00 and then IPO off the back of the drill results.

I expect to hear something shortly.

DYOR

Pumpski, how is it going with Sorry or is it SDRY?

Dukey, tell me again how no one was going to buy Musonoi at any price and how RRR was never going to get licences in Kenya reissued!

As I said flow: revenue is a flow and capital is a stock. Accounting 101 numpty: even the partially qualified resident accountant that can confirm that.

Bilbale is in three phases: phase 1 the flown in kit, phase 2 the kit sent by ship, phase 3 post issuance of the production permit. Phase 1 & 2 are test production. Once phase 1 & 2 are in place revenue will tens of millions per month.

It won't be optimised till phase 3 is in place and we have installed a crusher. Some gold will be fixed, hence why we will need the crusher.

I may be wrong; I did say no one is as dopey as you make out to be, I may be wrong.

DYOR