Member Info for Helpful

Anyway, chin up folks something has to happen soon whatever that may be. Burkina Faso has been valued by DL as worth $10 million to Red Rock about the same as Musonoi is worth. DLs' Mining company, he is Chairman of Down Under, might just be thinking of interesting themselves in NBGC we shall see. My feeling is that AB has it at the back of his mind.

Found this on ADVFN; how he would know that DL has valued Burkina Faso at $10mil is beyond me.

DYOR

News, it was my suggestion that DL get involved with RRAL. If he wants to take it forward, then great. We need some of these things off AB's plate.

I am not sure why he would put a valuation of $10mil on Bilbale or how he would get to that figure or even why he would want to put a figure on it.

Do some numbers, look at the spreadsheet in the Faso presentation on the RRR website. Once we have the production licence we can step the production up. In the meantime, we do the test mining to identify areas of high grade and map the resource. The licence is 180 km2 and so is large. The alluvial deposit was created by the Black Volta which used to flood the whole area. https://en.wikipedia.org/wiki/Black_Volta

https://www.graphic.com.gh/news/general-news/black-volta-overflow-over-5000-people-displaced-by-buipe-floods.html

My view of value based on what can be produced is significantly higher than $10mil but as I said no one is going to pay you $10mil for it.

DYOR

I can't see the post you are referring to but....

Willem is a production geologist not a valuation analyst. I have not seen his report but likely he will be commenting on how much gold he thinks is there: alluvial, colluvial and hard rock. What needs to be done to bring the alluvial into production and the best way to go about it and a mine plan or development plan. They said, there are at least four areas and so there there is a lot to be done. Likely it will be a HQ camp and then satellite camps.

Each area will need its own pond and maybe or maybe not need a bore hole.

There are problems with a valuation for Burkina Faso: in my view a valuation will be irrelevant. The best way to realise value is to simply produce the gold and sell it. I doubt that any valuation or offer for it will come anywhere near what can be realised by producing it.

Another issue with a valuation is that the alluvial is likely a short life project 3/4 years and so you wouldn't get the higher valuation you would on similar assets with 7 year plus life. Alluvial is also not regarded as "sexy", I don't know why in my book money is money.

The best valuation you could make is estimate the gold in place, estimate what it costs to recover it and then do a DCF based on an assumed gold price. No one is going to give us the DCF price though.

NB it is likely that the hard rock is several times larger than the alluvial. To max out the gold recovery we need a crusher to recover the "fixed" gold. You must also remember that we have another five licences in train.

DYOR

So gold back to $2,395. $2,400 about to fall again.

Very good for Bilbale.

DYOR

Nonetheless Doggie, posting non-stop about a company you are not invested in? Hardly rational, is it? Stick to the fluffing.

As I said Doggie, your stupid games.

So glad to see you have so much money you can waste your highly valuable time on a company you are not invested in but each to their own.

Interesting to see that you are also an expert on fluffing.

Go on Doggie, I will play your canine games.

Why would you be interested in what I think? Surely you are the expert and far better informed than moi?

Who knows? Until it is done it ain't done but we have lots on the go, as you know (or maybe not, the expert stuff does seem to get in the way). Your question is a compound question and therefore not really a question but seeking validation of the premises.

My numbers on BF look pretty good to me but it is income and takes time to come in (income being a flow, as you know).

Capex and opex are different: Bilbale should cover opex including corporate overhead so it depends what the capex is.

Capex: needs to spend $250k on drilling in Victoria; $150k on Luanshimba; $150k on drilling in Kenya to restore the JORC over 1mil Oz; $200k on drilling in Burkina Faso. But deals in Victoria and CDI likely. Kimono needs picking up and ALR needs to get going again on the licences including looking at the tin at Tin Hill.

Don't forget(not that you would) that Bilbale alluvial is three phases: the start phase with a small number of wash plants flown in, the second phase with rest of the kit shipped in and the third is the production licence for mechanised production probably October.

The serious stuff is the mechanised, probably $10s mils pm.

DYOR

Https://twitter.com/jczuleta/status/1780483091603026152?t=5V85ssjt1cMD5bwt2eaLRA&s=19

DYOR

Morning trolls, just checking in....

So if we get news on the wash plants for Bilbale should it be in an RNS, RNS Reach or a tweet? Or even all three?

Thought it best check with you, you know with you being experts and non-shareholders and all that.....

Burkina Faso for the start of production.

DYOR

Https://twitter.com/jczuleta/status/1780114633090650225?t=3Idxg-qDIWlzBvu91tw3wg&s=19

DYOR

Doggie, why don't pop over to SDRY or is that SORRY with your mate Pumpkin?

The trade there is buy in the market to qualify for for the offer, sell on T20, take the offer and dump asap after. Even you should be able to work that one out.

IMHO, DYOR

Which geologist report? Two are in train; the CPR for RRAL and Willem's report for Burkina Faso.

Both are to some extent side shows. What matters on RRAL is that RRR progresses on a JV, listing or sale. What matters on Bilbale is getting it into production and hopefully at a decent initial rate. Time has moved on.

At Bilbale even 20 ounces a day, 30 days a month makes a significant difference. 20 ounces now and confirmation that the rest of the kit is on the way will do quite nicely.

Out of the two I am more interested in the Bilbale report. I want to see how large an area the alluvial deposits cover; in his opinion. I have reason to believe that they cover a substantial area (by substantial, I mean huge). The deposits were created by the Black Volta).

A lot going on.

DYOR

Https://twitter.com/goldseek/status/1780140796798210305?t=K2kMOvWso6aIlc-9A50Chg&s=19

DYOR

By 5 you mean Israel/Iran? The answer is likely tonight or tomorrow night, Israel hits Iran in some way. How far they go, who knows? Likely, IRGC and Proxies C&C in Lebanon, Syria, Iraq and maybe Iran. No point in incurring ear ache unless you get something you want as a result. A bit further on is the manufacturing plants in Lebanon, Syria, Iraq and Iran. A really hard slap is hitting IRGC facilities in Iran. Stopping production of missiles and drones for six months is worth the ear ache. Hitting IRGC facilities in Iran is the start of regime change: Biden and his cabinet would not be happy with Israel hitting IRGC facilities in Iran.

DYOR

Neighbours

https://twitter.com/Recon_Africa/status/1779909734499262567?t=m2Fp4xOsKmxNtC5d1gWqxQ&s=19

DYOR

Doggie, as I said like 12 year old girls in the playground but in this case without the subtlety.

Still trying to deramp the price so you get your buy in price?

Anyone can take shares in placings, you just need to register with brokers so you are offered them. I have explained the process multiple times. I suggest you get yourself registered instead of wasting your time with me.

Maid, I am not bothered, in one ear and out the other. I am ex Army, I been called a lot worse by mates. This lot are like a bunch of 12 year old girls in the playground.

https://youtu.be/_98h4HQUaWo?si=zc97ztl28cmBaJ96

DYOR

As I said, a non-shareholder telling shareholders who the CEO should be. The way it works is, you buy some shares and you get a vote: no shares, no vote.

Hope that helps you.

DYOR

Neighbours

https://twitter.com/KoboResources/status/1779851401734053944?t=Zq3baa_QClOaduzIrEKBRA&s=19

DYOR