Member Info for Helpful

From the update dated 20/12/2023

VANCOUVER, BC , Dec. 20, 2023 /CNW/ - Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the " Company " or " Soma ") is pleased to announce that increased production at the Cordero Mine will now support the restart of operations at the el Limon mill, which has been under "care and maintenance" since 2019. The mill restart process is scheduled to commence in early January, with an estimated completion time of 3-4 months. The decision to restart the el Limon mill, rather than relocating it to the el Bagre Gold Complex, was influenced by the close proximity of the el Limon mill to the recently acquired Aurora Mine on the OTU Centro concessions. The Company anticipates resuming mine production at the historically producing and fully permitted Aurora Mine by the end of F2024. Currently, Cordero mine's production surpasses the capacity of the el Bagre mill, allowing for the building of a stockpile. Once operational, the el Limon mill will process material from Cordero, Aurora and formalized small miners."

https://money.tmx.com/quote/SOMA/news/5255408488872247/UPDATE_ON_EL_LIMON_MILL

So restart 3/4 months when activity on the restart commences in Jan 2024.

The El Limon mill will be fed from the excess production at El Bagre and from La Aurora.

Update on the Aurora Mine:

https://money.tmx.com/quote/SOMA/news/4677195864352880/SOMA_GOLD_INTERSECTS_835_gt_Au_OVER_10m_AND_REPORTS_UNDERGROUND_CHANNEL_SAMPLING_AT_LA_AURORA_MINE_MACHUCA_ANTIOQUIA_COLOMBIA

Soma should be publishing its quarterly update soon which should update us on the restart of El Limon.

DYOR

News, the Edison Report is well out of date on Mt Ida. The most recent up to date disclosure was the Juno IPO document from three years ago.

The haematite is on the Mt Mason tenements and extends into the Mt Ida tenements: the IPO document states as much.

Jupiter stopped drilling out the magnetite target because they already had more than an enough resource proved up. So they have at least 2bn tonnes of magnetite and more haematite than the JORC shows (they stopped drilling both).

https://www.junominerals.com.au/cproot/1009/3/Juno%20Minerals%20Limited%20-%20Prospectus%20Final.pdf

RRR's royalty relates solely to the iron ore on the Mt Ida tenements whether magnetite or haematite. Nothing else is covered. NB in the Juno IPO document they use the spelling, hematite.

DYOR

This the type of pond liner but ours needs to be much larger and therefore bespoke. We will need a couple.

DYOR

News this shows what can be done.

You have a hopper, sometimes a mill, a screen, a trommel and a sluice box. Loads of water. They have a screen to keep any large rocks out; sometimes called a Gorilla Screen/Bar.

Slight variations on a theme for each plant.

Basically, the alluvial material goes through the trommel so it gets broken up and gold particles become separated, the slurry then flows out to the sluice box with hopefully any gold getting caught in the traps. At the end of the day, they do a clean up of the sluice box to recover the gold.

The gold gets trapped because it has a higher specific gravity then the other material. The other material flows out of the sluice with the gold left behind.

Two main things; volume throughput (tonnes/hour) and grade. There is some adjustment about the size of the sluice, the angle of the sluice and the rate of flow of the water.

http://www.yeesmachine.com/casesinfo_11.html

https://gelinmachinery.en.made-in-china.com/product/XyZnkNbuKdVF/China-Gold-Washing-Trommel-Alluvial-Sand-Ore-Processing-Mining-Plant.html

https://www.ascendmining.com/portabel-alluvial-placer-gold-washing-plant-trommel-sluice-box-product/

Nothing terribly complicated. If you follow RRR's numbers through from its tweet about the potential throughput of the plant being put in place, then potentially RRR has a huge source of income but only for maybe 3/4 years.

The biggest issue is keeping the plant fed and working.

RRR has also said that CDI has alluvial on at least one licence though it seems to me that RRR will do a deal of some sort on CDI, whether DRC comes through or not.

DYOR

Https://themarketbull.com.au/2024/03/08/kavango-resources-shares-surge-19-after-commencing-hillside-gold-production/amp/

$30k per month.

So maybe 15/20 oz per month. They have to crush it then wash it: at Bilbale the alluvial may need crushing but it is not hard rock. If it works out the Alluvial at Bilbale should produce a lot more.

DYOR

That is baby stuff. The alluvial area at Bilbale is sizeable. That operation is doing a few ounces a day. The ponds there are not lined, they are just concrete.

The RNS says they can process over 1,000 tonnes per day if the soil composition is right. There will be multiple trains. The ponds are to recycle the water for the was plant. I will post some stuff later. The best thing to do is watch some episodes of the TV series Gold Rush. You see exactly how alluvial mining is done and the volumes the can process.

Thanks

Https://twitter.com/TaviCosta/status/1767312167915974703?t=WHLPjRzfNtz_yOHbIG79mQ&s=19

DYOR

Https://twitter.com/jczuleta/status/1767301149680357839?t=z4z9nDd680qS90koT4DfTA&s=19

DYOR

Ok Mr Lets Pretend I am a Simpleton When I am Trying to ask a Loaded Question.

I have no idea when Tragic stopped posting.

The gig ain't over yet. You only lose when you sell. Tragic would be no better off because he lost everything back in 2012/13. And that is the issue with shares: if you wait long enough you will be both right and wrong.

Shares are for buying and selling. The assumption is that people bought and held. I know people who both bought and sold several times.

The other thing Dukey is I have a memory. I remember you posting on here that you post is you hate AB because you lost money. I also remember that you said that you sold out of RRR and made a lot of money. You also stated that you then when bought back in because you thought you were missing out and then lost your money. So in the cool calm light of day with the brain cell fully switched on and the beer googles a thing of tomorrow: did you lose or win on RRR? Well the answer is both.

And pay that money Christie's and stop being a Jodrell.

DYOR

Neighbours in CDI.

https://x.com/capital10x/status/1767200906473296286?s=20

DYOR

1. Yes you are simple

2. If you are referring to the other company, no. I made seriously decent money and if I hadn't followed on and supported the company then I wouldn't.

3. As I explained to you a few times but you are too beer-goggled to see it: I/we first took a decent position in RRR via a CLN to fund DRC. As it turns out the asset(s) we funded were stolen and sold for £420mil. So were we right? We were bang on the money. In due course, I fully expect a claim for a few $billion going in.

4. Again, as I have said a few times, AB/RRR have made a few mistakes. Unlike you and the other trolls I have told him so in no uncertain terms to his face. I told him going back into Steelmin was stupid and diamond deal he went into with Gareth Penny (former De Beers) was stupid. His response to me and another shareholder over lunch only compounded the stupidity.

5. I am fully behind current activity. Monetising the current assets and moving some to early cashflow is the right thing to do.

6. Other current RRR assets swamp DRC in value.

7. Tragic used to opine on here ad nauseum when he and some of the other trolls were ramping it to heavens and the same when he was trolling it after the market turned. In both cases he simply had no idea what is gobbing off about.

8. All assets are for sale via JV, Farm in or outright sale as long as the terms are right. If you actually read the RNSs and listened to the interviews, you would know that has been the case for a little while.

9. Hopefully RRAL gets moved forward shortly and we have the choice of potential deals in CDI.

xx

DYOR

Dukey, get that brain cell working.

I called him Tragic years ago. The reason was that he used to troll me non-stop on a company BB he was never invested in and knew noting about. It was relentless, why? Because AB and RRR had co-invested in a deal with the company. It was 20/30 posts a day, every day.

Why was he posting? Because he lost money on RRR years earlier, nothing to do with the company I was invested in. At the time I had traded in and out of RRR a couple of times for small amounts and done okay. Apparently, this drove him crazy.

He constantly posted about overheads, expenses, fund raises etc from years earlier, posting exactly the same saved posts. Exactly the same drivel we get on here now. As it happens, that company became HE1 and I sold out my shares and warrants around 26p and did very nicely thank you very muchly. Why did I do well? Well we followed on with the deal with HE1 and we made loans to the company when it needed it and we converted the loans to equity in HE1 when it listed. Why did I sell, well it listed at 2.84p and 26p 12 months or so later is just too good to not take. Some people didn't but overall we did okay.

This is a problem with retail amateur investors, something is going through the roof and so it is going to keep going or something is dropping through the floor and so it will keep going: neither is true. There is a thing called Reversion to the Mean. He also used to lecture me about CLNs despite quite clearly understanding nothing about them. Given that I negotiated the CLNs and edited all the paperwork, it was a bit much to suggest he knew better.

He also used to go on about the Musonoi deal and how it was worth nothing: you know the one that Glencore paid $420mil for.

DYOR

News, the story behind Tragic was that he was an uber bull of RRR back in 2011/2012. He was constantly ramping that everyone should put every penny they had in RRR. I understand that he mortgaged his house and invested his pension in RRR. He kept averaging down after the metals bull market turned in the metals bear market.

Obviously he switched and his tactics were that he had a lot of saved posts and he would constantly post the same posts again and again. The accounts from 2012/2013/2014/2015 and so on. Boring Boy picked up the same habit.

You must remember that at one time, RRR and AB were super heroes who could do nothing wrong. The downside from that has caused problems for people who were either stupid or greedy or both. I spoke to AB about it a few years ago: his response was that he can come across a few people who had invested everything in RRR and he asked them, "are you insane?"

Remember at the time RRR had a huge run up in share price but had no revenue and was an early stage explorer. Apart from ducking and diving on assets and placings, there were no funds.

He posted so much, he had thousands of posts deleted.

DYOR

Mainly sells in the disclosed trades but we are up. Looks like we have a buyer and will have some late disclosed trades.

DYOR

Currently $2,181

Https://twitter.com/jczuleta/status/1767066981709058294?t=CQb1KS3J9NSTuNR9Ln8hYA&s=19

DYOR

Https://twitter.com/garysavage1/status/1766814535871258999?t=7B1kwYSxUcV7MIpkaT6vUQ&s=19

DYOR

Dukey, I know you like to get up late on a Sunday after your Saturday night adventures but you should post after your brain cell has fully recovered.

RRR doesn't need to afford anything in respect of Bilbale.

Read the RNS.

As I said a couple weeks ago: RRR is in a very good place. 'If' applies to everything for every company until it is actually done. 13 days shipping from Cape Town to Abidjan, a max two days drive from Abidjan to Bilbale: getting the kit there is not the issue, it is getting the camp set up. Once the camp is set up and the kit set up we should be in production. I understand that it takes no more than a day to set the kit up.

Look at the Gold Rush TV series, very instructive. Check out the RRR tweet that gave the throughput volumes and work some numbers out.

xx

Same, City to beat the Scousers.

Worst time and place to invest is in a junior explorer with no revenue at the end of a metals super cycle or after the cycle is on the way down. Particularly when the stock has had a huge run up as star company in the super cycle.

If, IF, RRR can get Bilbale producing in a few weeks, get ALR generating revenue, complete the oil & gas deal and get that producing, RRR will be very well positioned for the upswing that is currently unfolding.

DYOR