Member Info for Helpful

Since no one has posted it...

https://araca.no/news/details/index.html

The vote is on 31/03; linked to Tomco in some way?

No idea why they didn't execute on the earlier vote. Steve Byle is the man with his fingers in every pie: Ecoteq/Araca, Greenfield, PQE and so on. The PQE licensees are all required to use Valkor. So things seem to be moving, not sure what the outcome will be.

DYOR

I agree but they sound better on headphones or ear buds with buds being used.

Well some of those aces have been there for a while and now it looks like their time. You never know, it might be five buses all at the same time.

But as with all these things, until it is done it isn't done no matter how close it looks like it is.

For instance gold finished at $1,988 last night. That should make a material difference to how gold assets are viewed. It also means that Soma should look to bring El Limon back into production sooner rather than later. The higher gold price should make NBGC/RRAL much easier to IPO. It should also make it easier to flip the tailings gig and JV Migori itself.

It is similar to coal a few years back. Three years ago no one wanted coal investments but over the last 12 months they have been red hot. Sometimes it is just timing.

DYOR

No visa in time plus as he said everything was done in Kenya, he expected to be there longer based on previous trips but everything got done quickly. He can always pop back out. In any case, he probably could do with being in the UK for the NBGC/RRAL stuff that needs boxing off.

*without RRR having to cover the cash burn...

Getting a deal done on the tailings means that Migori can be funded as a stand alone with RRR having to cover the cash burn and the exploration programme. It would take the pressure off RRR to dispose of Migori.

DYOR

https://www.investegate.co.uk/red-rock-resources/rns/scoping-study/201202021206346981W/

"Using the current CSA Global Measured Mineral Resource estimate (MRE) announced on 14 October 2011 of 1.286 Mt @ 1.65 g/t Au and 33.5 g/t Ag as a base case scenario, the Project can support an average annual production of 10.5 kOz and a four year mine life."

So about 68k/70k oz of gold at $1,900 and about 1.5mil/2mil oz of silver. In total about $160mil oz of precious metal in place plus copper at 0.2%.

It should be pretty easy to flip that for a decent amount once all the paperwork is in place. The issue before was getting all the permits in place, just having the licence wasn't good enough. I have been bending someone's ear about this for some time.

DYOR

And so the 4th ace is revealed but not yet played. Macalder Tailings.

JORC Measured Resource Estimate

Prospect JORC Classification mt kOz Au g/t Au Cut-off g//Au
Macalder Tailings Measured 1.3 68 1.65 No cut-off

A scoping study investigated two base case scenarios (new vs used plant equipment) alongside a DCF analysis, examination of previous metallurgical test work and assessment of community and environmental factors. Mining Lease Application for processing the tailings has since been submitted to the Kenyan Government.

https://www.proactiveinvestors.com.au/companies/news/16837/red-rock-resources-reports-75000oz-contained-gold-estimate-at-migoris-macalder-tailings-20245.html

The JORC-compliant estimate was produced by CSA Global and puts the tailings resource at 1.424 million tonnes at 1.64 grams gold per tonne.

https://twitter.com/StephenPLundy/status/1636633208203755523?t=UpbwoJx_8jAX28axob514g&s=19

TVS

it seems to me that we have three aces and maybe a fourth one. We only need one to come good and then things are materially different here.

The aces being: ALR, EOC and the Arbitration case. All three are very close but not there yet. One way or another, ALR should be in production by the end of April at the latest, possibly a lot sooner. EOC is likely a matter of weeks away. DRC could be anytime subject to all the messing around from the wriggly people.

The fourth ace is a couple of candidates that we should have news on pretty soon.

DYOR

https://twitter.com/darrenhazelwood/status/1635999993076039680?t=DPOBhgm5LQ428sdPua2wPw&s=19

Very good. Looks like they are getting closer to pressing the button on the IPO.

DYOR

As AB said. The EIA has gone in. We are now awaiting approval; it shouldn't take too long. Once we have approval, it should take 10/14 days to start production.

As with all these things issues can arise and we are running a bit but nothing world ending. I have just over 10%.

All of the above is in the public domain.

DYOR

https://www.brrmedia.co.uk/broadcasts/5d6f90612760173908009ee4/ascent-resources-strategic-update/

I am assuming nothing.

https://www.londonstockexchange.com/news-article/AST/completion-of-damages-claim-funding/15473433

"Completion of Damages Claim Funding"

"will be advancing the disbursements which are expected to be incurred in the pursuit of the claim and will only be paid out of a portion of the proceeds of the arbitration in the event of a successful damages award or execution of a binding settlement agreement (if achieved sooner)."

You could always call the CEO and double check with him, as I did.

That wording is the same wording used in the Annual Report.

You seem strangely committed to trying to undermine the Company's claim in the ICSID, particularly, for someone who is not a shareholder and only has a passing interest. Maybe you have some other interest?

What matters is that this is going to the ICSID and what will happen will happen.

DYOR

https://twitter.com/SStapczynski/status/1635191367747133443?t=FnXLvDP3HgKcqsyVwgV3rg&s=19

From the annual report

"Enyo are funding the payment of advanced disbursements which are expected to be incurred in the pursuit of the claim, and these disbursements along with the time of Enyo's lawyers will only be paid out of the proceeds of the arbitration in the event of a successful damages award or execution of a binding settlement agreement (if achieved sooner)."

Pretty clear

DYOR

Pet, follow your own argument through.

You expect that Clfford Chance on behalf of Slovenia will ask for security of costs. If you can foresee that, why can't Enyo, AST and the entity funding the legal costs? Do you think that it will come as a complete surprise to them, that they will throw their hands up in the air and say, well I didn't expect that!

Enyo, in pursuing things so far and up to the point where surety is demanded will have incurred a lot of costs under the funding agreement. If you were right and that the demand for surety was unexpected, unfunded and AST had to walk away then it is Enyo and the funder who are out of pocket. At this stage, it is not AST that would be walking away but Enyo and the funder.

Far more likely that Enyo and the funder have done their homework are happy with AST's case, fully expect CC to demand surety and if demanded it is funded.

Enyo have done this before and would expect all the usual things and the same would be the case with the funder.

DYOR

https://twitter.com/investmattallen/status/1633889407135563780?t=DWLWsaCYICdBBuC8q4uC7A&s=19

New management always has a clear out. We could probably get decent terms on the 49% of NBGC and it would make decision making easier. The biggest issue is the cash burn. RRR would need to get the pre-IPO done asap and then list it.

DYOR