Member Info for Helpful

https://twitter.com/Amena__Bakr/status/1577670454503948290?s=20&t=JLi3BqN95w6DBuZ40Kb9hw

https://twitter.com/zerohedge/status/1577622272503943171?s=20&t=FsgOI3QhKEIIQEyYyexM-w

Coming soon.....

Robins, the delay is partly AB's style but his concerns are legitimate.. Projects are political and we want as far as possible to avoid being dragged into local politics.

The reason we nearly lost Migori was local politics. He is also concerned about maximising value and part of that is timing, waiting for some hypothetical better conditions. My view is do a deal and move on, same with RRAL.

RRAL needs a pre-IPO round and then IPO. The pre-IPO pays the cashburn, the IPO costs and some drill costs. My view is list Feb post drill results. As elsewhere getting drill rigs is more difficult than it used to be. But not my call. If someone turned up with a cheque book, I would sell either or both and move on.

DYOR

BB so wrong. He has already indicated in one of his interviews that he had a potential JV partner for Migori and turned them down some time back.

What they would have paid was a multiple of your number. JV partners can problematic.

DYOR

The valuations in that report are well out.

The standard metric for gold is $30 an oz for gold in the ground. The grade at Migori isn't the best so you might apply a small discount. On the other hand, they didn't update the JORC post the last batch of work and there is a lot of upside there.

So call it $30 an oz and that gives you $21,690,000. At the current exchange rate that is £19mil. So the £3mil valuation is well out. What it is saying is that it values the JORC gold in the ground at $4.73 an oz.

The reason $30 an oz is used as a valuation metric is that the is the deemed discovery cost. ie., it will cost $30 an oz to find new gold.

If RRR put Migori up for sale at $4.73 an oz it would have no shortage of buyers.

That $4.73 gives nothing for the exploration upside or the gold and silver at the Macalder tailings dam.

I think that RRR might get $50 an oz in an outright sale and $40 an oz in a JV. Buyers pay more for control.

From RRR's point of view it would be better to get a sale with a decent royalty.

AB thinks that there is up to 10mil oz at Migori but the good grade is deeper: it will take a lot of drilling to prove that up and it will be more expensive to mine it. The deeper RRR has to go the more it costs to mine.

DYOR

https://twitter.com/RRR_RedRock/status/1576985741913395200?t=Ya4hNDj11vjjSl1ecE4TCA&s=19

https://twitter.com/jamieflegg/status/1575854769121685504?s=20&t=nNgAFm_Qy3yn-sAZ0Un7MQ

https://twitter.com/Ole_S_Hansen/status/1575425399147970560?t=V9zRD5IuE9lnybmqXg_fkA&s=19

All trades showing as sells with sell price gradually rising: expect late reported buy trades.

https://www.share-talk.co.uk/announcements/rns/pathfinder-minerals/loan-agreement/202209290702060805B?s=08

https://twitter.com/sdmoores/status/1575160315381108744?t=QC7dTpbyRanTafAiUwjsXg&s=19

GBP dropping against the Euro: very good for Euro denominated assets and revenue.

The Sterling value of the various claims and the revenues is now materially higher.

Indeedy, they need to get on with listing NBGC and get the cash burn off RRR's P&L. Not all RRR's decision obviously, but we don't want the cash burn for the overhead and have to fund the drill programme.

DYOR

https://twitter.com/BrokerDoug88/status/1572688456517832704?s=20&t=vAaaX3QXcbvt0sXxSstQkQ

https://twitter.com/TereaAfrica007/status/1572252721952194560?s=20&t=zTdQDonsPdqUlVAbnUrNVA

https://twitter.com/SStapczynski/status/1570966607232634880?t=a7OJEvJPdpF9u5_wOn6AOA&s=19

https://www.ascentresources.co.uk/investors/presentations-documents/

Very good. Actually got some clarity out of that one.

He is right, those drill results do look like we might have a potential mine on our hands.

DYOR

https://twitter.com/RRR_RedRock/status/1567863041840107520?s=20&t=JwM6JEkN3vWkc6EIFYwESQ

AB mentioned sending the staff home a few times in recent interviews.

A few election back, the locals for some reason thought we were a Kikuyu owned business and there was large gang that turned up with machetes and sticks. Luckily it was resolved and so it can get a bit tasty in Kenya.

I take a different view. My view is that it is time to move on with Kenya: either sell it, flip it into another listed vehicle or find a JV partner that can fund it and will bring it into production. There may be a lot of gold at Migori but the grade is fairly low (still commercial) and it will take a lot of drilling to prove up the extra resource.

When looking at these assets we need to run a grid on them so we can rank them. In my view the big upside for now is n DRC and that is where the capex should go. I don't think we want to spend $10mil at Migori and spend 3 years proving up the resource. In that time we can bring a mine into production in DRC.

On the others; BK, Cote d'Ivoire, ALR and NBGC the intention is that outside capital will be brought in and each will have its own management with an independent future. So fairly soon the cash burn will be off RRR's P&L and RRR will have assets held for sale.

If you look at the data I posted yesterday, large amounts of gold are produced in BK. No reason why FGR can't do the same. FGR is in an area prolific with gold mines and well away from the conflict zone.

Anyway, each to their own.

DYOR