Member Info for Helpful

Duke, why do you continue to post outright falsehoods?

El Limon was sold for $5mil just under $3mil remains outstanding. The difference between the $5mil and the just under $3mil was repaid via the redemption of the promissory note, cash and some royalties (about $200k).

Production at El Limon stopped because Para, the previous name for Soma, wanted to concentrate on new assets in Arizona that messed up and then Soma acquired El Bagre and wanted to get El Bagre to maximum throughput before restarting El Limon. The only issue at El Limon is that new mine access had to be put in place to maximise efficiency.

DYOR

Hi,

when are you going to pay the £1,000 you owe to Christie's Hospital in Manchester?

Do you need me to repost it all, presumably not with you being a man of your word and all that?

*$80k not $8k

Https://twitter.com/SomaGoldCorp/status/1677313663101796352?s=20

https://www.somagoldcorp.com/_files/ugd/538e5b_ad273f3e68534eaaae88b7b27eeb919e.pdf

Page 6 El Limon to restart production in H2 2023

Soma reckons production is ahead of target: it will therefore need to bring El Limon into production earlier because it will hit the processing limits at El Bagre earlier.

Soma owes circa $3mil to RRR to be paid on a net smelter royalty from El Limon production.

Page 7 2023 plan 3,000 oz from El Limon 2024 12,000 oz from El Limon. Royalty 2023 circa $8k and 2024 circa $320k.

Royalties are paid quarterly in arrears.

NB El Limon is permitted for higher production but would require work on it. Based that on $900 margin. If Gold goes higher then the margin increases pro-rata and so does the royalty.

DYOR

Yep really slippery, using words with their correct meaning as opposed to a stream of meaningless verbiage. Maybe you should look the last one up?

The reality is that their fancy lawyers haven't helped them so much in the last few years. Anyway, their fancy lawyers might cost more than it would cost to cut a deal with RRR. Who knows?

Yep

Yes and yes.

I am not going to explain why the VUP settlement has taken so long but maybe AB will once it has been signed. Until it is signed, it would be stupid to stir things up.

IMHO

Robins, learn to read.

I outlined the process and how RRR would get to a number (the quantum) for the claim. They might or might not be successful but the process remains the same. My view (and I might be right or wrong) is that the likelihood of a result is in RRR's favour. Glencore has got a demonstrated history of corrupt dealing in DRC which resulted in the DRC Govt fining them $160mil: see the earlier post from the BBC.

In a rational world, Glencore would want to do a deal and so would RRR but who knows what will happen?

DYOR

Https://dictionary.cambridge.org/dictionary/english/expect

https://dictionary.cambridge.org/dictionary/english/will

Expect is probabilistic. As I said, people need to learn to read.

DYOR

The claim would be heard in London or Switzerland not the DRC.

And it might well take some time.

DYOR

More reading:

https://www.bbc.co.uk/news/business-63858295

https://www.proactiveinvestors.co.uk/companies/news/209771/red-rock-resources-proceeding-to-completion-for-cobalt-and-copper-assets-joint-venture-in-the-democratic-republic-of-congo-209771.html

https://markets.ft.com/data/announce/full?dockey=1323-13992561-1Q6D0HIL22RK1KNSFNOCQJCI9O

DYOR

You lot need to learn to read.

I never said that Glencore would hand over readdies: I commented on the size of RRR's claim.

The claim is the monetary amount which RRR's reckons it has lost by Glencore's tortious interference (look it up). To make a claim you have to put a number on the losses and justify it in a manner that the court might accept. You can't just pick a number and justify it on the basis of hurty feelings.

The two bases RRR would use would be $420mil less the $20mil already paid) x 50.1% and the DCF for the loss of profits from exploiting Musonoi plus the two other licences and any other losses it suffered as a consequence. Other losses would include having to raise funds at distressed prices and loss of profits from not being to properly exploit assets.

Normally, someone like RRR would appoint a court accepted expert (there are registers of them) who would advice on the quantum and how that quantum is arrived at.

Based on the above the claim would be between $200mil and a few billion. Interest is normally added plus costs.

The court decides in what is called the Settlement or Award or the two parties agree outside the court process, again, the Settlement.

What the claim is and what the settlement is are not the same thing. If RRR achieves success then whichever way you cut it, it is still a decent number given RRR's current MC.

DYOR

Https://twitter.com/DerGoldreport/status/1678008975365685250?s=20

Https://twitter.com/jczuleta/status/1678039545453879296?s=20

My last ever response to you Z.

I did have a look back at some of your postings back in 2013, interesting.

I note that your understanding of investing and commercial matters remains at near zero. I also note your previously stated enmity and hatred for Andrew Bell and Scott Kaintz. The hatred seems misplaced given your previously stated lack of knowledge and experience.

As I said, ALR is a business; it is not Tin Hill.

Tin Hill is one licence and one asset of ALR. In business things change and in ALR's case things have changed. ALR had multiple licence applications in the system and licences awaiting change of ownership registration. Some of those have been dealt with and some are still in the system. The new rules also change the business environment.

I am very happy with ALR and my holding is worth decent money. You however think I should take you seriously, the man who lost money on RGM and RRR, who has no current holding in RRR and no holding in ALR.

It would seem that your only asset is your continuing, irrational hatred of Andrew Bell and to much lower level Scott Kaintz.

Anyway, time for a walk in the sun; and get a life...etc

xx

DYOR

H5O grow up.

I am not in cahoots with AB, I personally own 10%+ of ALR and with two mates we own 30%+.

ALR is a business, it is not just Tin Hill.

RRR does not control ALR it has less than 50%.

AB promised a presentation: I have not seen it or a draft. Anything they were going to say 2/3 weeks ago is out of date. ALR is now significantly larger than it was 2/3 weeks ago. Running one site out of the UK would be difficult enough but five would be too much. ALR now needs more local management: it now has four more sites where it needs more sampling, it needs the EMAPs, the EIAs and the EIA certificates. It needs a plan to operate the five sites.

The market marked up RRR about 80% a few weeks back off news on Tin Hill ie, it valued the news at about £4mil. The ALR news since is much greater and should be valued at more and we have more licence applications still in the pipeline.

In addition, the new rules open new opportunities.

In my view, Zimbabwe will gradually make the lithium market in Zim more regulated. Smaller operations or people inexperienced at operating in a regulated environment will want out in due course.

Again, in my view ALR is worth a multiple of RRR's MC. Anyway, you make your own choices and so on....

DYOR

Lets forget the detail, ie., anything that demonstrates you are talking out of your fundament.

Bottom line is that RRR was cheated. The amount involved is somewhere between $420mil x 50.1% and $3.5bil x 50.1% ($3.5bil being about the DCF number).

1620 Capital (John Boardman and Jason Brewer) introduced the deal: both 1620 and VUP got paid readdies, shares and warrants. RRR paid through the nose and then got shafted by the other side. All the share issues in the last three years were down to RRR getting shafted.

If RRR had been able to rely on its assets and its partners then everyone on here would be talking about how wonderful Andrew Bell was.

So, yes, lets forget details and talk nonsense about how AB is a bad guy because he doesn't listen to you.

Meanwhile, RRR has brought its third asset into production if not actually done it today, very shortly. If RRR had not been shafted then it would be RRR's fourth asset being brought into production.

In the meantime, I look forward to banking some serious money whilst you move on to some other company to bleat about and tell everyone that you are ever so important.

xx

DYOR

PS I fully expect Glencore will be paying us some serious readdies fairly soon.

TDT I am glad you have found your life's work, trolling on a company you don't hold shares in and never have held in. Quite possibly a whole new definition of futility and that is without mentioning you know nothing about the company and its assets.

Banbury, yes.

And unlike the former bulls and trolls on here I have told AB to his face where he messed up; he wasn't happy but hey ho.

I have repeatedly refuted some of the nonsense you post on here, which you then just repost a few days later in a slightly different format. I remember a few weeks back after such an interaction you were going to wind your neck in but here you are, again.

Two big mistakes in my view where going back into Steelmin and the Amulet Diamond Corporation gig. Smaller mistakes that were fair bets were the Vector Resources gig (Jason Brewer, superhero much loved by some on here) and the Slovakian silver tailings gig.

If RRR hadn't been cheated by VUP, everything would have come up smelling of roses. My original reason for investing substantial amounts was the DRC tailings gig and followed on when we got Musonoi and the other two licences. I was aware of all of the other stuff but DRC was the upside. Except for VUP's actions, Musonoi would have had a JORC and been in production within 12 months. The judgement on DRC was correct and will be shown to be correct in due course.

AB and RRR just has to be sensitive to local sensibilities, play along and wait. We are nearly there and we inch forward slowly.

DYOR