Member Info for Helpful

Just waiting on the next bit of news.

Complete drivel.

RRR spent a lot of money on Migori. It produced two JORC resources: one of the tailings and one on the hard rock. They then started running into political problems that resulted in them going Judicial Review in 2015. That was settled in October 2018 and it took till a few weeks ago to get the licenses reissued under the Kenyan Mining Act.

They had submitted one mining license application for the tailings and were in the process of submitting a mining license application for Nyanza asset when everything kicked off.

Do you seriously contend that RRR should have been spending money on the Kenyan assets whilst it wasn't certain that they would be restored?

DYOR

The JV is called Red Rock Australasia Pty Ltd and the JV has 12 license applications in for approval not just the one.

DYOR

Going well.

Our position currently stands at £480,000. RRR mc circa £7mil ie., about 6.9% of mc.

DYOR

*new NOMAD not broker. The NOMAD has no role in fund raises or market making.

Better to read it and DYOR.

Well no way they can bang those out now for a quick £10k profit. The SP would need to be much higher.

The question that should be asked is, where is the stock coming from?

Do not referring to today's £75k buy at 0.5p?

Then your argument is even worse: you think they can bang out £180k at the current price to make £10k?

DYOR

ST you do realise you have just said that the SP will double? A bit "rampy" don't you think?

Assumptions and cognitive dissonance.

So someone buys £75k at over the market price to make a quick £10k?

So that someone would have to be able to sell £80k at over 0.55p net of charges to make £10k.... So (according to you) that person expects pretty soon for the SP to be over 0.6p on the offer and over 0.55p on the bid and the market to take £80k in one hit.. but the company is a dog and anyone who buys is a fool?

This is an open and shut case of cognitive dissonance.

DYOR

Make your mind up: you called this a dog and now you are worried about someone making money on inside information.

https://twitter.com/SmallCapsASX/status/1316892126421028865?s=19

There was one person I forgot about: just asked them and not them.

So it looks like that is a worked buy over the last couple of days and is a "new" position. Looks will get a TR1 over the next few days.

If the identity of the buyer is as indicated, this will become very interesting.

Production, cashflow and assets makes NTOG look pretty good to predators. Likely that the warrants will get exercised so NTOG will be cashed up as well.

DYOR

Well I have asked around, there are two people for whom that might be a Bed & ISA but it seems not.

Looks like it is a worked buy over a couple of days and declared today. There were a lot of sells the last two days and the price was steady. That looks to be the reason.

TR1 incoming?

DYOR

Our shares and warrants in POW are looking pretty good today.

https://www.lse.co.uk/rns/POW/botswana-molopo-farms-complex-drilling-commences-x2xxc6mqb0227vx.html

Such a charmer.

Ah you would be one of those Wits that people mention in hushed tones.

It hasn't gone down to 0.4p or to 0.6p since it breached 1p. A decent 2 way trade at this level, which is what one wants. We don't want anyone locked in who wants to get out and we don't want anyone spiked.

Just waiting on the next bit of news here. It could be one of several bits.

DYOR

How was that wrong?

We did get over the 1p psychological barrier and it went higher. It subsequently drifted back because the gold price dropped off and then RRR did a placing. I said it because we had been hovering just under 1p and every time it looked like we might go over it, the SP dropped back. So there was obviously a barrier. That barrier has gone now and on the next charge up we should go past 1p quite easily.

There have been a fair few sells in the last couple of days and the market has taken them quite happily without the price being destroyed. Next bit of news and we move up quite a lot.

The gold stuff in Australia is quite nice and we should do well out of it but the big upside is the copper and DRC. Kenya, RRR needs to get the promised JV(s) going. If it were me, I would look to do one on the tailings and then a separate one for the rest. The tailings can be sorted quite quickly. They need to get the mining application in for it asap.

https://www.proactiveinvestors.com.au/companies/news/39223/red-rock-resources-submits-mining-application-for-macalder-gold-tailings-project-46843.html

The tailings has 68k oz of gold, 1,385,000 oz of silver and copper at around 3% content.

Together worth maybe $200 mil or so .

I have no idea how long it would take to get a mining license for the tailings issued..

DYOR

Indeed, up and down etc...

Looks like someone thought they could pick up cheap stock and they couldn't.

I expect we will hear on the spud for Cypress/Pine Mills next week.

DYOR

The company's brokers deal with placings. The NOMAD makes sure that the company complies with AIM rules.