Member Info for Helpful

Https://www.linkedin.com/pulse/guide-alluvial-gold-mining-process-equipment-used-xinhai#:~:text=The%20principle%20of%20the%20alluvial,method%20is%20generally%200.01mm.

https://www.aureusboutique.com/abx/what-is-alluvial-mining

DYOR

Https://x.com/RRR_RedRock/status/1724400325652582726?s=20

A word is sufficient for the wise man.

Yep.

Indicating that it is done.

DYOR

I didn't know that RNS was coming.

Why not read it. I know the only reading you do is beer bottle labels but there is more to life than beer labels.

Dukey, you have never shut up before when you have been wrong. Like when you said that you would pay £1k to Christie's Hospital in Manchester if RRR got its Kenyan licences back. You made a big deal about being a man of your word and here we are; you still haven't paid the £1k three years later.

The stuff on 88E was put in the public domain yesterday. The stuff on Recon was put in the public domain on the 9th November: I know you and the other Trolls want to talk about ten years ago but that information is current and relevant to Elephant Oil.

Try reading stuff. Not as much fun as beer but it means you might be a bit better informed.

xx

Much more and Belly will be getting a speeding ticket. He will have to come clean then.

In auction.

CaptKock, I don't believe in anything, I am not religious: try reading what I wrote.

Listen to Belly's interview: he said, "judge us what we export". He said it several times. He told you that he was going to export but of course, all the trolls will say, "but RRR hasn't done it yet"". That is why we are waiting on an RNS to confirm that Belly and RRR/ALR have done what they said they will.

It ain't done till it is done and you will know it is done when we have the RNS in front of us stating as much. The Trolls will, of course, say, "we can't trust anything in an RNS".

DYOR

This trends into Elephant's Namibian acreage.

https://clients3.weblink.com.au/pdf/88E/02739243.pdf

This is the Recon presentation re the Damara Fold Belt.

https://reconafrica.com/wp-content/uploads/ReconAfrica-Corporate-Presentation.pdf

DYOR

I speak to Belly on a regular basis. As soon as exports have commenced he will be running hot-foot to the RNS machine. But it ain't done till it is done. So as I said we are awaiting confirmation.

Don't forget this is very sensitive for the Zimbabwean Govt; they want to maximise revenue from the royalties on exports. If they say jump, we have to jump.

DYOR

Dukey, you miss the point the issue is not whether we have a plant or not but have we spent $40mil on a plant that does not work? You might be able to get 3%/4% out of a floatation plant but it is very difficult to get it to 6%.

The issue is the Specific Density of the materials is too close. You might be able to do short runs and get 6% but sustained volume runs is very difficult. The variability of the input materials is too great.

DYOR

Dukey, get your beer tokens ready.

Richy, I think that this is pretty clear.

https://www.youtube.com/watch?v=StgiiHthlpU

1. We have multiple licences

2. Our sample grades are much higher than KOD and/or Prem

3. We can export

4. We have no debt

5. Others cannot export but have product at surface

6. We are waiting on confirmation that exports have started

7. The major upside is lithium carbonate rather than spending $40mil on a hydrometallurgy plant that cannot produce SC6. If we had spent or were planning to spend $40mil on a flotation plant then we couldn't move to a lithium carbonate plant in due course.

8. So what does ALR have? No debt, the ability to export, no plant that doesn't work, flexibility and the ability to respond quickly to changing circumstances plus its own licences.

Lithium carbonate currently sells for between $17k and $23k per tonne.

DYOR

Https://en.wikipedia.org/wiki/Mineral_resource_estimation

DYOR

Sorry Richy but you miss the point. It is called comparative analysis or peer group review.

If you look you will see that both KOD and Prem have MREs not JORCs.

Prem has a huge amount of debt and a plant that doesn't work and likely never will be able to produce SC6. KOD is about to take on a load of debt and build a flotation plant.

The issue is either they are over-valued or ALR is under-valued, particularly if ALR shortly announces that exports have commenced. I don't know which it is, do you?

DYOR

So KOD 31.9mt of MRE at 1.06% Li2o - MC £117mil

Prem https://www.londonstockexchange.com/news-article/PREM/zulu-update/16209317

MC £63.39mil: was £112mil a couple of weeks ago.

If an investor wants near term exposure to lithium revenue then RRR/ALR is a much safer bet.

Hydrometallurgy to produce SC6 is a Herculean task.

Both KOD and Prem want to use Hydrometallurgy, both have very low head grade.

Either they are vastly over-valued or ALR on a look through basis is vastly under-valued. Who knows which one it is?

Lithium Carbonate is much more attractive but the issue is the CAPEX required.

DYOR

Well you never know Dukey, you may be unpleasantly surprised.

Robins, it still will be. It just that the route as been protracted.

It is not true that nothing ever happens.

Musonoi would have been in production by now except for that it was stolen and then sold to Glencore for a lot of money. I agree he tries to spin too many plates and I was giving him earache about too many projects on Saturday. His response is that you never know what will turn out well and so you have to have a few different deals. That is fair enough but we can't have a portfolio stood still with a cash burn and no value creation.

Anyway, we should have a few assets producing income pretty soon. But until it is done, it ain't done.

My view is that even if everything else turns to dross except ALR then that will be more than good enough.

Remember the comment about Prem?

DYOR

Robins, as soon as the start of exports are confirmed RRR will RNS it. Till it is done it ain't done and so it is entirely reasonable that no one is swayed.