Member Info for Helpful

BBB, not true that "not a single project has progressed". You know that to be false, so why say it?

Https://miningzimbabwe.com/simplified-the-new-base-minerals-export-control-act/

DYOR

Https://twitter.com/Tertiaryplc/status/1673620133023981571?t=yLBC1d4cCVuwGCJ_Tqj7xA&s=19

DYOR

That was a T e le gr am group. Not in it.

*************redrockresources

Looks like the herd is on its way...

https://twitter.com/tozzer121/status/1673601277303873536?t=UU3gRfDR6EoL2GTuO3d9bQ&s=19

Try not to get trampled underfoot.

DYOR

Premier African shows the problems with going from exploration and a bit of quarrying, to building, installing and operating a quite complex industrial process. The people here who want ALR to go and do a deal similar to Premier African are asking for trouble.

Much better to just operate as a quarrying operation day one, generate cashflow and then improve the grade out of cashflow. Fine, you might get a better price by taking on debt and doing what Premier African have done but it is a much more complex operation with different skills required.

DYOR

As I said, Recon were due an update on the Damara Fold Belt which extends South West into Elephant's Namibian acreage. See my earlier analysis.

https://mailchi.mp/fb50b8856299/reconafrica-announces-an-independent-3rd-party-natural-gas-resource-report-for-the-damara-fold-belt-kavango-basin-namibia?e=32944d2cec

DYOR

Teeklabrown,

yes

Yes

And no.

Bidding for RRR would be too complex given internal procedures: easier to just cut a cheque.

DYOR

BS why not try reading? That was not my valuation.

The JV had three licences, one of which (Musonoi) was between two Glencore licences. The JV included a partner called VUP. RRR had 50.1%. The JV included 1620 Capital which became Bring Minerals.

VUP sold/surrendered the licences back to Gecamines for $20mil: Gecamines then sold the licences to Glencore the same day for $420mil.

RRR has won two cases in the commercial court in Lumbumbashi: further it won an appeal in one of those two cases.

It is now awaiting the award of the Arbitration Court to be signed. It has to be signed by all parties to become effective. The Arbitration Court award is in respect of the $15mil held by Gecamines ($5mil already having been paid to VUP).

Correct on further action against Glencore.

Correct about the correspondence between Gecamines, VUP and Glencore.

The claim against Glencore is only one asset. In my view ALR will be worth a lot more in due course. As to what to accept, who knows? A lot would sell at 0.5p and more at 1p.

DYOR

Apologies. Initially spodumene 2% - 3% grade lithium. Essentially, a quarrying operation on a pick up and pay basis: variously payment is 3 days/7 days.

It becomes more complex when you start grading and then more complex still when you start beneficiating either using flotation tanks or dense media separation.

Once we start beneficiating then we can export and that introduces more complexity.

At the point we start beneficiating that is the stage where we start process for tantalite and, maybe, tin and beryllium. Once processing, you would produce tailings stockpiles and then later reprocess for tantalite, tin and beryllium.

Regardless, day one ALR/Tin Hill is a quarrying operation.

DYOR

Deckchair,

all of these information sources are just that information sources. The interpretation and analysis is down to us. Context matters. In saying ten years, he is referring to different legal systems, permitting requirements, different types of lithium resource. To my mind, it shows that we are in the right place in Zimbabwe and that to get from the first licence to first production in about a year is pretty good. It could have been done quicker but it is the way it is.

One reason for constantly bending AB's ear about divesting Victoria is the regulatory and permitting system. We only have so much management bandwidth: given the choice between progressing lithium (and a lot of it) in Zimbabwe or progressing gold in Victoria, Zim wins hands down. RRR having assets that might produce income several years down the road is all well and good but it has the opportunity generate very decent returns now.

I think the ten years might really be referring to brine rather than hard rock but it is also about another way of going about it. The conventional method is years of drilling, sampling, geophysics, producing a JORC and a BFS. Here the intent initially is to just produce some hard tock lithium and sell it. All the other stuff can come later. So for instance we might need to uprate everything if we want to process for tantalite, tin and berylium. If that becomes the case then ALR will need to operate a different model on the ground and it will cost a lot more money to set up.

DYOR

Https://twitter.com/that_stocks_guy/status/1672256871049175041?t=eZdgL6cxe7Q_auAUijzSig&s=19

DYOR

I was responding to direct questions from Hawaii5O but you carry on about how you know better because "I remember 10 years ago....." It is not about 10 years ago, it is about now.

DYOR

You lot are schizophrenic. One day I know nothing and the next I am the font of all wisdom.

I do find it funny that Zumore was a few days ago implying that there was something dodgy about RRR/ALR and wanted to know who else operated in the same way (that being a quarrying operation) so I gave him Prospect and Marula. So in two days he went from RRR/ALR was a disreputable business model to Marula's was much better and ALR had messed up. Funny.

RRR has to pay its bills: only three sources of readies. Issue shares, sell something/JV or have a revenue generating asset. The left field one not normally included is compensation for having assets stolen from us: three licences were stolen.

The market for gold assets has been weak, picked up a bit lately but still weak. As I have said multiple times; I think Kenya and Victoria need to go. Kenya has been complicated by the licence renewal and Victoria complicated by the joint ownership. POW has been more interested in floating other assets. POW may have been hoping to pick up RRR's share cheaply in due course.

RRR lost one potential JV in Kenya because of lock down. Victoria has been delayed by the same. Victoria has been expensive; good staff but expensive plus Berringa cost money and the drilling had to be done to renew Berringa.

My view is that a deal will be done on Victoria soon, same with Kenya. They are expensive and will take too long to bring into production and are therefore non-core.

ALR was late getting its licence because of some illegal miners but that is now resolved. Except for that jiggery-pokery, ALR would have been in production in March.

ALR has multiple licences in ZIM, all pregnant with lithium. ALR/RRR should pretty soon, 3/4 months, have several lithium operations in Zim producing decent income for RRR and the other shareholders.

Given the choice between putting more money into RRR or into ALR, I took the decision that ALR was the better bet. Same with Burkina Faso. You have to bear in mind that DRC/VUP has been on the verge of being signed since last July.

So RRR's cash issues have been caused by some expensive gigs and late receipt of revenues/compensation.

Anyway, nearly there....

IMHO RRR will shortly be in receipt of highly significant distributions from ALR that will take these cashflow issues away. Note that ALR has at least four licences in Zimbabwe, as per AB's interviews. Overall, whatever anyone thought we would get out of Tin Hill, the whole of it will now be a significant multiple.

Note that Tin Hill has lithium, tin, tantalite and berylium. One of the next steps is to sample for the others once Tin Hill is in production.

DYOR

Two days for assay results. Harare is a big mining hub.

And know little or nothing about....

Very surprised no much pick up on the point that there are several Zimbabwe lithium licences and that they are starting the process to bring them into production.

The process is: Environmental Management Plan, Environmental Impact Assessment, EIA certificate and then sales permit.

Likely all done by end of August.

DYOR

H5O,

that revenue calc is based just on Tin Hill production and only 2% grade sold locally. Another three licences are now going to start the EIA process.

Kenya is up for renewal and needs to be in good standing.

Big hint DRC is finally done. If it is then it needs to get notarised and the official document issued.

Big hint in the Stockbox interview that we are about to have movement on Australia.

DYOR