Member Info for Helpful

Yep they have to debug and optimise all the sub systems first before turning the plant on properly. Looks like they are very nearly there.

There is a well 451 feet away that is lower on the structure that is happily producing.

DYOR

Not true. It matters but it is not the only thing. A big thing is EUR, another is rate of decline, another is water cut, another is moving resource into P1 and PUDs. I don't know but I expect it will lead to more farm-ins in due course.

DYOR

I know who you are mate. I know you understand this stuff or at least claim to do so. Stick to promoting your blog on Twitter.

The offset well referred to is 451 ft to the west. It is owned by Strand Energy and is structurally lower on the asset. Our well being higher on the structure should be a better well with greater recoverable reserves. This now validates the other targets or PUDs. This has created a lot of value for NTOG. Remember the farm-in relates to 80 acres only.

DYOR

Listened to that a couple of times. Sounds like RRAL might be looking to sell one or more licenses..

https://twitter.com/PowerMetRes/status/1330908459794132993?s=20

Some people are really bad at trading: what is the point of putting a sale through at 0.38p today when they could have got 0.40/0.42p last week and news is due this week.

I sold some a couple of week back and got 0.475p. I expect anyone who wants to will be able to sell north of 0.5p this week.

We are due confirmation of the wireline logging results, the completion plan and a potential upgrade to reserves in due course. Add in we have the results from the Caballos Creek workover to come and the geologists report.

DYOR

The coal mine was in RGM: I was asked to fund it and said no.

No Australian Consultants in DRC: listen to the latest interview.

Greenland was before my time. You should look yourself in the mirror: you are talking about your losses not mine.

DYOR

We should get an update on the wireline logging next week and Caballos Creek. With a bit of luck we might get the geologist's report on Caballos Creek.

RRAL: supposedly it is a 90 day process after the advertisement period has ended with no objections. AB has been expecting the grant for the last two weeks or so.

You can check for yourself on the Geovic site. The process is that Earth Resources invites you to pay the requisite fee, once paid the license is issued. Theoretically RRAL should know before the website is updated.

Once the licenses are issued, I expect a RRAL CEO announcement to be made pretty quickly and then regular updates on the TSX IPO.

DYOR

Tragic as usual you get things wrong. If you had read anything I posted previously you would realise that I think the assets are undervalued and the main reason is the market's view of AB. The undervaluation is getting just ridiculous.

DYOR

https://twitter.com/StockBoxMedia/status/1329817588931629059?s=19

That is the dichotomy. The value is already there but the market doesn't recognise it.

1. What is Migori worth?
2. 1.2mil oz gold hard rock valued in the ground at $10 an oz is $12mil: at $20 it is $24mil: at $30 it is $36mil.
3. If you look at the reports from the, the JORC clearly states that the resource was open as to depth and extent: ie., there is more.
4. The Macalder Tailings is 68k oz of gold at 3 g per tonne, 1.28 mil oz of silver and the copper is about 3%. RRR had submitted a mining application on the tailings back in 2012 and it should be able to refresh that application under the Mining Act 2016 and submit it pretty quickly.
4. The value of the metal in place at Macalder is well over $200mil. The cost to set up is about $3/$4mil and the original plan was to mine it over 4 years. The opex cost was carried by the gold and was about $900 per oz. On that basis the silver and copper is largely in for free.
5. So what is Macalder worth its own? Certainly $25mil and probably a lot more.

If these assets held by another company and AB was not involved, the sp would be up around 4p. That is your conundrum. Migori alone should be $50/$60mil.

Hopefully, AB gets on with it asap: 1. get the JORC updated 2. Get the mining license application in for Macalder 3. Gets his JV sorted 4. Starts the work to upgrade and expand the asset.

DYOR

Fair summary.

The assets are valued at a large discount to their true value: that POW is valued at so much more than RRR is ludicrous. Sometimes you have to be careful of what you wish for. There is no doubt that AB has done well for the company this year: RRAL (first 3 licenses issued any day, CEO lined up, listing on TSX, potential spin outs and JVs); getting the Migori licenses reissued; sorting out the mess in DRC; getting JMS to act on spinning out the iron ore assets (critical to monetising our royalties and without AB likely JMS would have done nothing). However, the market doesn't value what he has done and he needs to recognise that.

DYOR

The one we really need news on is Musonoi. That can be moved to a JORC report pretty quickly.

https://twitter.com/RRR_RedRock/status/1329766450500866048?s=20

At last....

Luanshimba looks to be better than Kisinka.

https://www.rmgeoscience.com/

Well it looks like a friend of mine has cleared out the Kansai sells.

https://twitter.com/angusenergyplc/status/1329431206501490689?s=20