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Well Mt Ida does look like they intend to have a good go at it.

It looks me that they would bring a partner in. RRR has three and a half bites of the cherry re Mt Ida: two $4mil stage payments, the royalty and then the shares in Juno.

I expect Elephant to list mid March, they are well on with S1 process.

It looks to me that they don't want to list New Ballarat till the drill results are in.

Hopefully, when this next round of news is out some of the seriously nasty people who hang around here will clear off.

As to a placing: any placing would need to be approved by a GM.

DYOR

He said he sold a while back.

As I said, a lot going on.

https://oilprice.com/Energy/Energy-General/Goldman-Sachs-Calls-10-Year-Commodity-Supercycle.html

I have explained multiple times. It is tedious going over the same ground. If you have a better candidate, I am all ears.

If AB had been removed 2 years ago I doubt that we would be where we are re Musonoi and the two other licences (we would have lost them with no recourse) and we would not have RRAL/NBGC. There are multiple other irons in the fire but people choose to ignore them. We would have lost Migori except for AB.

Baby and bathwater etc.

The original timetable on Elephant was that it should list in September but it has taken longer. I now expect it to list mid March time. Nothing to do with AB and the delay is not his fault.

By the end of March I expect both NBGC/RRAL and Elephant to be listed. NBGC is now largely under the control of the new management team and on Elephant I have more influence than AB and I have none. Elephant is now under its own steam and is going through the S1 process.
https://www.investopedia.com/terms/s/sec-form-s-1.asp

The only valid claim against AB is that he takes too long to get things done but that is partly a function of having so much on the go.

DYOR

If you want to call the shots then you have two options: buy in the market or bid us for our stock. Everything is for sale.
xx

I said October for a JORC not for a result from Luanshimba. Getting the initial drill results and a JORC are two different things. The JORC will require more drilling, I expect that they will give guidance on how much more drilling is required.

Having a decent asset and a JORC are two different things.

If RRR was going to sell or JV Luanshimba a JORC would not be needed. However, if Luanshimba is to be brought into production then RRR would need a banking feasibility study: can't do a BFS without a JORC.

Lots going on and Luanshimba is only one project.

xx

More to it than just having the assays.

They have to be input into the model and then the model updated. The geologist then has to give his interpretation and the board has to draw it's conclusions.

My feeling is, good results, needs more work and further drilling, too early to call it a commercial discovery but very encouraging. Next step is drilling to establish a JORC. Ie., pretty standard blurb. I expect the JORC would be ready October time

DYOR

Well the issue is that their is a lot on the go and things always seem to be a bit slower than I would like. In terms of priority, the VUP legal case and our friends at Glencore come first.

Juno Minerals quarterly report, in case you missed it.

https://www.junominerals.com.au/cproot/1069/3/2330091.pdf

DYOR

https://twitter.com/Ole_S_Hansen/status/1486310962714001418?s=20

https://twitter.com/StephenPLundy/status/1485665353493536770?s=20

https://twitter.com/TereaAfrica007/status/1485653977530253322?s=20

I don't care. I just want a large cheque.

RRR fluked its way into one super-prime asset and two prime assets in DRC: then it was robbed. Not AB's fault or RRR's fault, it was robbed.

DYOR

*sorry VUP entered into an agreement with Gecamines and Glencore/Kamoto.

Robins, as I have said previously you need to establish the hard facts and keep them clear in your mind. They don't change because the question changes.

1. VUP entered into an agreement with Gecamines and VUP that it would surrender the Musonoi license and the two others.
2. The second part of the agreement was that Gecamines would pay VUP $20mil out of whatever Glencore paid to Gecamines. Hint, it wasn't $20mil.
3. Gecamines would then issue new licenses to Glencore/Kamoto. That has been done.
4. The entire board of Gecamines was replaced in early December (about the time that VUP was submitting its case against Gecamines and Kamoto): why do you think that might have happened? https://www.africanews.com/2021/12/04/drc-pres-tshisekedi-replaces-board-of-directors-at-leading-mining-agency//
5. The people we are dealing with at Gecamines are the new people.
6. For us to do what you suggest all of the would need to be undone, plus the court would need to direct it. It hasn't directed it because we have asked it to do so. It would also mean that Glencore, Gecamines and VUP had suffered no loss for their actions.
7. RRR is much better off with damages. I expect the full package of compensation will be from four different parties.

We should know more soon. The next big thing is that the full litigation pack needs to be put in front of our legal advisers and we then need to decide whether we sue in London or Switzerland. Rome II indicates Switzerland.

Then we need the quantum of compensation to be claimed: it should be very large.

Then we need to secure a litigation funder. It won't happen overnight. In the meantime we can pursue collection of our small claim in the DRC.

DYOR

Ignore that. It was the previous one reposted on Twitter.

Reads okay. Should lead to an updated JORC in due course.

We have orders against other parties that will likely pay. IMHO.

The monies due to VUP were $20mil. What Glencore was supposed to pay was different.

VUP only received $5mil from Gecamines out of the $20mil. Our eventual claims against other parties could be up to $1.5bn.

The main take away is that RRR has established in law who owned those assets.

DYOR

https://twitter.com/Trafigura/status/1483712222916489220?s=20

DRC gradually getting better as a investment location.

"The Company expects to announce drilling results from another project in the DRC, Luanshimba, within the next days"