Member Info for Helpful

Robins, I have no reason to believe that there is an issue with Kenya. The licences needed to be renewed in August; there is a process to go through and we will have a result in due course.

By "renewed in August" it doesn't mean that it is a five minute job. Part of the renewal is that licence holders have to give up part of the acreage on renewal.

If there was an issue then RRR would have to tell the market.

Just more nonsense made up by the trolls who have an agenda.

DYOR

Https://x.com/PowerMetRes/status/1733130792480522619?s=20

DYOR

As always Robins, DYOR

https://www.businessdailyafrica.com/bd/corporate/companies/investors-warm-up-to-lift-mineral-exploration-freeze-mounts--4268672

Most information you want is in the public domain, you just need to look for it.

All licence renewals have to be through the cadastre.

DYOR

PPS I should have also said that the cost of capital becomes cheaper as well.

Dukey, surely not even you are on the pop already.

The reason I am mentioning gold is because RRR has 5/6 gold projects. The price of gold is important to them. Marginality matters on gold production because the production price is pretty much fixed on each project.

So $100 on the price of gold means that mines that are otherwise mothballed are brought into production, mines that were marginally profitable are now seriously profitable and projects that were on hold get progressed. As a consequence of the above, gold assets become more highly valued, it is easier to fund deals, it is easier to secure JVs and projects that are stalled get going again.

If you look at the price movement of gold over the last year you will see that it has moved up from around $1,800 to about $2,030 now.

That change of £230 per oz is huge. Last time there was a lot of excitement around Victoria gold was about the same price. It now looks like is going to hold over $2,000 and might move higher. There are all sorts of predictions out there from $2,100 up to $2,500.

What that means is:

1. It should be much easier to sell the Macalder Tailings

2. It should be much easier to JV Migori

3. The $3mil outstanding from Soma gets paid more quickly

4. The revenue from the alluvial mining in BF and CdI should be greater: likely production cost $300/$500 an ounce.

5. It should be possible to secure pre-IPO funding for NBGC and IPO it in due course.

There is no downside to a higher gold price for RRR.

AB has just done two interviews, I suggest you listen to them.

PS any chance of you paying the £1,000 to Christie's Hospital that you owe them? You know, you being a man of your word and all that.

DYOR

*RRAL

Kimi,

if you have read my past posts you will see that I thought that RRR should have been disposed of in the past: for a couple of reasons but mainly RRR can't fund the cashburn for an illiquid asset.

However, now gold is higher that changes the outlook for NBGC. It doesn't matter if it is sub-par, what matters is does it have value?

As to posting something from Doc, it was the map I was interested in. It may have slipped your notice but Doc is now the Chief Operating Officer for ECR (our neighbours near Ballarat). Anything he says in his role as COO for ECR is relevant to NBGC and RRR (whether you like him or not). If he gets ECR going off the back of what it has in Victoria then it helps NBGC.

But the main point is that this is a BB, it is not a requirement that anything that is posted has to be agreed by you or agreeable to you. What he says relating to ECR and in particular, Creswick, is highly relevant, whether you like it or not.

xx

Kimi, I only linked it because the map has pretty colours and I like pretty colours; how about you, do you like pretty colours?

It is a map of gold in Victoria, if you were intelligent you would keep the map and then compare it to the map of NBGC licences.

NB note that ECR maps all sorts of companies' assets on there but doesn't show NBGC's. I wonder why that would be?

Have a read of the RRR's RNSs. you will see that NBGC/RRAL has gold.

PS if you don't like pretty colours, he is a map without them.

https://resources.vic.gov.au/geology-exploration/minerals/metals/gold/gold-mining-in-victoria#:~:text=Gold%20discovery%20at%20Ballarat%20in,over%20the%20world%20to%20Victoria

DYOR

Neighbours

https://twitter.com/DDS_DocHoliday/status/1733057440520794403?t=wf0q_6h-fIPXGXvZE-_oTg&s=19

DYOR

On the way back up. Currently £2,030

DYOR

Look Speccy I can do semantics and I can do linguistic philosophy as Austin Mitchell MP once accused me of doing to him in a public debate with him at Manchester University.

The process of the truck crossing the border means it has been exported. Belly posted yesterday and said, "We continue export activities in Zim". How much more current do you want it to be? In his interview, he specifically stated he was not going to release information every step of the way. https://www.youtube.com/watch?v=7feGo0IGpBU

Anyway, as I said, the NOMAD is in charge on these things. For instance, I know Belly wanted to say more on West African gold in the RNS from the other day and the NOMAD wouldn't let him say it. All this drivel about RNSs can be issued for anything is just that, drivel. In the past, I have been sent draft RNSs to vet and it then takes three/four days for it to be issued because the NOMAD has to be happy. It is what it is; RNSs will get issued as appropriate normally a few days late because of the process.

DYOR

Yawn! Still posting on a company you have never been invested in? What a life!

*The NOMAD would not wear.....

No I wasn't referring to trucking, just Robins complaints about lack of RNSs.

ALR: an RNS to state the start of export operations is fine. RNSs are not for stating ooh two trucks have left this week. RNSs are supposed to be material and/or price sensitive. The NOMAD would wear an RNS because another truck has been sent. Each truck load is only about $34k at current prices; it is not material.

"AB got up this morning, got dressed, had some poached eggs and went to the office" might be factual and RRR might even be able to evidence it but it is not something for an RNS.

DYOR

He can't make stuff up and he can't just issue RNSs because the SP is down. The NOMAD is fairly restrictive on what can be put in an RNS. I know people on here say, "why wasn't there more detail/more explanation in an RNS" and it is because the NOMAD/the rules don't want it that way. RNSs are supposed to be cold and factual, not sales pitches.

DYOR

Soma paid royalties previously when it was Para Resources. Soma have acknowledged the contingent liability in their last annual report, as I posted on here.

Soma is quite different from Para in that it will likely end up on 35,500 oz of production this year. Para was producing but struggling: royalties have to be paid regardless of whether a company is profitable or not. Soma is quite clearly profitable: https://somagoldcorp.com/wp-content/uploads/2023/11/Q3-Financial-Results_Final-1.pdf

Its EBITDA for the third quarter was $9.6mil and for the 9 months $26.7mil. Net income for the third quarter was $3.2mil. With prices now a lot higher those numbers will look better for the fourth quarter and the production is higher.

DYOR

My current view is as I have said;

I think that we will get the award

I think we will get the money

But it ain't done, till it is done. It doesn't matter how close we are and what the "just one last little step is required" is, until it is done, it ain't done.

It has seemed several times in recent months, that it was done and then it wasn't. Once we have the official Arbitration Award document, duly signed, notarised, sealed and registered as a Govt Document then it is done. If it were done, Belly would tell the World pretty quickly.

What will happen is that one moment, it isn't done and the next it is. What the delay is, I don't think anyone knows.

Anyway, just my very humble opinion.

DYOR

It is all going to end in tears..

Someone has pointed out to me what Boring has been posting: "The lad could be Bells son ( which I'm not saying he is illustrative only) and it would be perfectly legal. End of on legality."

1. Even if it were Bell's son, so what? The Prime Resources Ltd in the UK does not hold the charge, Prime Resources Ltd in Gibraltar does: two separate companies with no link except the same name.

2. Bell has a son, he is called Fred and used to run Elemental Royalties before it merged Altus and became Elemental Altus Royalties: he is now the CEO of the merged entities.

3. https://elementalaltus.com/about/team/

4. As it happens, I know that the charge is in favour of a subsidiary of Riverfort through another route; not that one is needed. The head boy at Riverfort is Brian Kinane: I know Brian well through various deals we have done together over the years. We speak fairly often and he has in the past proposed that we co-invest in deals together; we have done so but not many. On 2nd June 2023 he messaged me about RRR. The proposal was that we buy out the Prime Resources loan and we take over the charge. The loan at the time was no longer material to PML/Riverfort, he thought we might want to take it for several reasons. As it happens, we didn't agree terms at the time and in any case, we thought it might not be received well by management.

Now unlike most of the BS on here posted by the trolls who just make BS up and then repeat it endlessly, I can back up what I have just said with documentary evidence.

5. As an aside, I was originally introduced to Brian through RRR because he wanted help sorting out Vector Resources (one of Jason Brewer's little escapades). The main asset involved was Adidi Kanga; there were others but they were of no interest. VR had entered in to a deal with Riverfort and another lender to borrow bridging funds whilst the putative main lender sorted themselves out. The local partner was Guy Robert Lukama: GRL is now Gecamines Chairman. As part of the discussions, it emerged that there was a local loan to a Congolese bank, it ranked first and was not interested in any negotiations about the loan or taking a haircut: that killed any possibility of restructuring or funding it. I still have all the paperwork relating to it.

https://www.proactiveinvestors.co.uk/companies/news/212371/vector-resources-acquires-majority-stake-in-adidi-kanga-gold-project-212371.html

"The Adidi-Kanga Gold Mine has a JORC resource of 15 million tonnes at 6.6 g/t gold for 3.2 million ounces of contained gold."

The view was that there was up to 27 mil oz of gold there........!

"https://uk.marketscreener.com/quote/stock/VECTOR-RESOURCES-LIMITED-10355629/news/Vector-Resources-Limited-Announces-Resignation-of-Jason-Brewer-as-Director-of-the-Board-34429330/"

So when the trolls lecture me about how they know better, er, you probably don't. Just because I say something on here, you shouldn't assume it is everything I

Https://somagoldcorp.com/our-assets/production/#

DYOR

Https://twitter.com/garysavage1/status/1731777032093417524?t=uDQTOycvnfHclhIRYn8g4w&s=19

DYOR