Member Info for Helpful

100% wrong.

Let's see what Monday brings.

Deal maker extraordinaire are your words not mine.

As always let's see: so far so good.

Partridge you have been talking to Mr Boob too much.

If there is a problem with the Mambare asset why has the legal action previously referred not proceeded? Answer, the two sides have an outline agreement on the way forward. Why haven't they updated you? They have but they are not going to come back and update the market every time there is another email.

The big issue for both sides at Mambare is the costs of bringing it into production. The main thing is that they need is to put in a 120km road to connect the asset to the port. Secondary are port facilities and the actual mining license. If they can't afford to put the road in then the rest is pointless. What does JP reckon his skill set is? Oh yes, M&A and bringing finance.

The usual story here: someone has lost money. It can't be his fault so it has to be someone else's fault and the last thing he wants is for things to work out here.

The peakers are pretty easy as long as you can find a suitable site. Big issues are gas connection, grid connection and planning. Finance is not an issue. RGM will likely be able to largely debt fund each one and bring a partner in for the difference. Southport will be cash flow positive from about six weeks after being online (taking into account payment terms).

Unlike you, I looked in detail at AES last year as part of the CLN negotiations and have met the management a few times.

With Ion Ventures on board (who have closed several deals for themselves and others) Southport will get closed and others in the pipeline. I expect that once we have critical mass in the grid space it will get spun off into a separate vehicle.

DYOR

Your usual detailed and incisive analysis I see.

Really good news on RGM, bodes well for our RGM shares.

Good news on Katoro.

Good news on Katoro.
POW owns 10,000,000 shares and 10,000,000 warrants.
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/KAT/14404620.html

How is it going with your Australian friend? Not getting any more inside information with instructions to deramp RGM? Has he kissed and made up with RGM? What happened to all your predictions that you expounded non-stop with such certainty?

1. RGM has not been diluted in the JV
2. The JV is now looking for a mutually beneficial way forward
3. They are looking to get a DSO operation going
4. RRR has a chunk of shares issued at 2.75p
5. Learn to read.

You have shown that you are not an honest poster and just interested in trying to manipulate people. I saw your post stating that you weren't interested in RGM any more now that Andrew Bell was out. So all that puffed certainty was all about personal enmity to AB? Same here I should say.

DYOR

Yep but much less than the value of the CLNs.

Plus I have a shed full of warrants.

You need to chill. If your argument is that RRR's assets are a heap of dog poo, you need to do your analysis again. If your argument is that AB has let you down and will again, fine but the assets are the assets. The licenses should have be issued in the weeks after the September announcement but these things always take longer than we want. I can assure you that I regularly and constantly impress upon AB how much the license being issued matters.

If the response is that the license being issued is all smoke and mirrors, again go and do your analysis. Start with reading the Mining Act 2016 which is the relevant law. Following the recommendation by the MRB, the license being issued should follow as night follows day.

DYOR

Duke, you are really are funny.

1. I am not underwater. I have CLNs, I got paid my interest in 2019 and now in 2020.
2. The CLNs are secured. They are due for repayment in December 2020. If RRR can't or won't pay then we take the security.
3. I am not locked in, the CLNs rank ahead of the equity. If I forced a wind up then the CLNs get repaid first.
4. If it was an issue, I could forced repayment of the CLNs on 19/12.
5. I know how close we are here to realising value.
6. Forcing a wind up now means locking in the value of the Migori assets and the DRC assets as they stand now.
7. We are about to see progress on Migori and DRC.
8. Migori is down to the Kenyans following the Mining Act 2016 and the law in Kenya. One way or another the licenses will get issued because the MRB has made the recommendation that they should be issued. The law says that they will now be issued. https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RRR/14232628.html
9. DRC is fine. There were local issues that have now been resolved. On Musonoi, we just need to progress the JORC report and on Luanshimba they need to do a bit of trenching. "At the second joint venture, with Congo Galaxy, where initial results from exploration at the Luanshimba license, reported on 21 December 2018, identified a 2 km by 500m copper-cobalt anomaly and a 1.4 km by 300m copper-cobalt anomaly, the Company is planning a low cost programme including ground geophysics and pitting to further define the mineralisation potential, and decide drill target"
10. The key next stage is the final grant of the Migori licenses; execution the previously referred to JV and progress on DRC. All should be done in the next three months.
11. In the meantime JMS is making progress (increasingly it looks like something will happen on the iron ore assets in the next 12 months), Para is making progress with El Limon and Power Metals seems to me to be making progress.

We have six licenses in the DRC in highly prospective areas. I am sure we will do very well out of it in due course. The big issue will be, do we bring them into production or sell out at the next big value inflection point?

So, come back in 12 months and tell me how I am locked in.

PS I see you are one of the trolls that posts on RGM about how AB lost you all your money. FYI I was one of the CLN holders and converted at 2.75p in new money. I had 3% plus before the deal and 3% plus after the deal. I sold a few well over 3.5p.

Maybe you should worry about your own investments a bit more than mine.

DYOR

Hey Duke, I will let you know much I have made when I cash out: in the meantime the interest payments on the CLNs have been very handy.

DYOR

There is no local road for them to misuse. The JV will need to put a purpose built road in place: a bit difficult to see how the locals can complain about that. Further the Govt of PNG wants these assets developed because it wants the royalties, taxes and license fees along with employment doing the trucking and shipping.

The nicked extraction business is an existing one in Australia and meets current environmental requirements, the only thing that would change is where the feedstock comes from.

DYOR

I have no doubt that patience will be fully rewarded.

DYOR

So interview week of 27th; it must mean an update on the Peaker plant. I expect confirmation that they have committed to it, funded long lead items and have a funding structure in place.

The big long lead item is a grid connection.

DYOR

They also need to learn to read an RNS as well.

The RNS reads okay to me. The results on the wells could be a bit better but we are doing okay. The report confirms that Colter is not a write off and work is continuing to enhance value.

DYOR

Funny guy.

Your confidence is misplaced.

If you check out the Kenyan Mining Act 2016 you will see that there is a process to be followed: the MRB has recommended that the licences are issued to RRR. The law dictates that we should be issued the licences: we are just waiting on the bureaucracy issuing the letter inviting us to pay the requisite fees.

DYOR

Just waiting...… When the Migori license gets issued is in the control of the Kenyans. All RRR can do is meet all the requirements for the license to be issued.

Everything else looks to be going well but Migori is the one that matters in the short term.

DYOR

Heading to 0.5p and a heavily discounted placing. They will need some cash to keep the lights on and to pay for any DD on another transaction.

So someone sold £25k in one chunk and no SP movement. Looks like we have a buyer in town. Probably a late reported trade incoming.

Excellent timing from someone (not me),

https://twitter.com/Oilman_Jim/status/1216408895889051648?s=19