RE: Extract from Red Rock RNS dated 15 June 201817 Aug 2020 14:59
Zumore is on filter.
Tragic, you again have no idea what you are going on about and you more than adequately demonstrate it every time you post.
Lets do some analysis: first we need some facts (I know you don't like them but they are useful).
https://polaris.brighterir.com/public/red_rock_resources/news/rns/story/vw1zq1x
The McCalder tailing at Migori have gold, silver, copper and zinc in them: no figures are given for copper and zinc because no one would have been interested in them in 2012. RRR submitted a mining application for the tailings in 2012. The figures given for the tailings are 68,000 ounces of gold and 1,385,000 ounces of silver. The value of that metal at current prices is around $170mil. Any copper and zinc is on top, if it can be recovered (no reason why not). So the metal in place might be $200mil + with the copper and zinc added in.
What is the hard rock JORC resource of 1.2mil ounces worth at current prices? Well at Nyanza RRR did a feasibility study: there was 200k ounces of gold and at a gold price of $1,100 and and cost of production of $958 an ounce reckoned it had an NPV of £8mil: what is it worth with gold at $1,950?
Having to pay away $2.5mil to the former partners for 25% of the asset is a bargain. Getting a partner to come in and fund the development of these assets in the current environment is not an issue. Most people of course would be able to see this but not you.
DYOR