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Https://www.cityam.com/london-no-longer-the-home-of-mining-as-activist-pushes-for-glencore-to-shift-listing-to-syndey/

Ooops!

Interesting

DYOR

News, that is a big question, I will go back and check some things..

About Gina, it wasn't my call or RRR's. The call was made by the Juno Board, it's advisers and Jupiter. AB was instrumental in getting the spin out of Juno from Jupiter started. By the time it listed he was no longer on the Jupiter BOD.

Jupiter had decided it wanted to concentrate solely on its manganese at Tshipi and didn't want to do anything with iron ore. AB and Priyank persuaded the Jupiter BOD spinning it out was the right thing to do. Prior to that Jupiter spoke to Glencore about the iron ore: Glencore basically said they would take It off Jupiter's hands as a favour.

The Jupiter board decided to IPO it because they couldn't get their price in a trade deal. Much better to force a potential buyer to pay a premium in the market than to sell at a low price in a private sale.

It makes sense to put Ida, Mason and Bevan together but Gina is no one's fool.

DYOR

I doubt that RRR would sell for £6m. RRAL should a better pre-money valuation on an ASX IPO with a JORC in place.

DYOR

Maid, a sign that things are turning for the better. AB is moving things forward and they are worried. We have a way forward on the alluvial gold in Burkina Faso, Kenya renewal is now in train, CDI we are talking to people, ALR lithium prices have started to firm, RRAL we now have a way forward as an IPO or trade sale and DRC well we are close.... As always there are left field opportunities in the wind.

DYOR

News, best to not make assumptions.

Sam Quinn is an NED of RRR.

I don't think RRAL will list on AIM: it will be ASX, currently gold Cos doing ok on TSX.

I don't think it will be an RTO, we would have to give up too much.

There is a possible route to a quick JORC but further advice needs taking. Just as with Musonoi where AB had a quick route to a JORC but he was frustrated by VUP doing the dirty on us, there is possible route with RRAL.

I gave the likely steps earlier. NB a JORC is not needed to list on ASX but it would help a lot and it would get the valuation up.

DYOR

It is 15 hours with a change at Addis Ababa. Brussels airlines is 8 hours direct.

So he should be there around now.

DYOR

Very positive. Seems to have his mojo back...

https://youtu.be/17V8NPGIxTU?si=m5SDakSIv-eNnt17

DYOR

Targa, RRR needs to box off DRC re the £7.5mil before pursuing the other claim.

Https://www.rrrplc.com/wp-content/uploads/2024/02/2024.02.29_RRR_Burkina_Faso_Alluvial_Project_Presentation-1.pdf

See page 12, very interesting. Then work the numbers through......

Page 9 gives some of the grades found in the Bilbale permit.

"Faso aims to become cash flow positive in H1 2024."

Gold currently $2,164.

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

The Moratorium has now ended.

DYOR

News, one other thing on the corporate side of things. This will change the book value or carrying value of RRAL in RRR's accounts. This matters. One of the issues that RRR has faced in doing deals is the AIM RTO rules. If a transaction is deemed to be an RTO, the company has to suspend and they have to publish a new prospectus. Going through the RTO process may take 3/6 months and cost £300k/£500k.

The better RRR's balance sheet is the less likely that a deal is deemed to be an RTO.

The trend that ECR is drilling at Creswick continues into our acreage. At some point there will be a read across from ECR to RRAL. If ECR is worth £6.5mil, what does that mean RRAL is worth?

With a bit of drilling and a JORC at Berringa, this should look like a cheap deal for RRR. Before the trolls go on about money, they need to consider the conditionality and any drilling pre-IPO will likely be funded by pre-IPO monies.

Once the deal goes unconditional, RRR will need to consider who is on the board: a betting man might put money on David Lenigas.

DYOR

I wonder which country AB will be in when they speak to him?

🤫

News, correct. It should make decision-making easier and quicker. David Lenigas is a director of a number of ASX listed companies including gold companies: Strategic Consultant.

Likely PRE-IPO funds follow quickly, a broker gets appointed, a quick drill programme at Berringa followed by an IPO.

In the current environment we might even be able to flip it.

All the conditionality is on our side.

DYOR

Https://twitter.com/jczuleta/status/1767802495558914490?t=7ezMF_As3-Z_aS-vsbHFeg&s=19

DYOR

Https://twitter.com/RRR_RedRock/status/1767823971959832627?t=9mbA7_eAU3pJXmH_ZRw_ng&s=19

DYOR

So our RNS emphasises the conditionality.

Now RRR needs to find a buyer or get the IPO moving and grooving. Cheap deal for RRR in the current environment.

DYOR

The NOMAD dicking around again.

Neighbours

https://twitter.com/MakoGoldLtd/status/1767655621569224784?t=HN-YemjHuNDz9pchyO_u-g&s=19

DYOR

Coming together...

https://twitter.com/jczuleta/status/1767620418305769897?t=onNdhjFy1mwK_RaYgVIQWQ&s=19

DYOR

They had the results out on the lithium a few days ago: nothing special. My view is that they should concentrate on the iron ore.

"From the assay results reported, low levels of lithium, tantalum and tin were recorded, with no significant intersections of lithium encountered."

They wouldn't give Gina an allocation because it was a back door into letting her in cheaply. If you look at the deal she did with Liberty, she did not overpay.

They will probably do a deal with her on funding the rail siding they need and coming in as a partner on the siding.

DYOR