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*weep

Did I mention copper?

https://www.mining.com/copper-price-jumps-to-7-month-high-on-trump-trade-deal/

Read and deep Tragic.

A portfolio of peakers would be very interesting: a very good source of cashflow. CHP can be added on for not much capex. On the right site AD can be added too but in my view requires too much capex and increases the risk profile.

A portfolio of 5/6 peakers over say 2 years largely funded out of cashflow and debt would make RGM look pretty good with the blue sky to come from Mambare.

DYOR

Not a thing.

Indeed. I expect we will start getting news from Tomco shortly.

I picked that up but he is never going to get a job as a news reader.

****************************/articles/versarien-petroteq-energy-chris-bailey--caae9bb/

Break even can only be calculated once they have gone to 24/7 and got the volume up. They have also said that automation will reduce costs.

Fund raise. Our position has been diluted. RRR should be issuing a TR1.

People can't have it both ways: they can't complain that they are kept in the dark and then complain that they should have waited till they had good news.

Today is good news, the plant is producing on a regular basis. They now need to step it up to 24/7: which was never going to be possible without training up staff. Then they need to step up the throughput. You can't train staff on a process plant, if you are watching to see if it will fail at any moment: so you would keep it at a steady state, that you know it can cope with whilst you train up your people. The reason I know this is that I used to run process plants for Shell a long time ago. Getting the plants to stage where you are happy to run them flat out 24/7 is not as straightforward as people might think. Not least you have all the safety issues. There will be HSE officers whose agreement is required at each step.

DYOR

https://ir.petroteq.energy/press-releases/detail/339

The important bit is that it works. Volume is important but secondary. A fair chunk of the shifts they are doing will be taken up with start up and shut down procedures. They will also be inspecting known issues to ensure that they are not re-occurring. Once it is working 24/7 then you lose the start up and shut down times.

It will be interesting to see if they can keep working during bad weather: it can get nasty up there during winter.

https://www.mining.com/4-charts-that-say-this-time-the-copper-price-surge-could-last/

https://twitter.com/LegatumInst/status/1202220042148098049?s=19

Look up Mineral Resources. It looks like they are going to start exploiting a site near to Mt Mason and Mt Ida.

If they put the infrastructure in place it would make Mt Mason and Mt Ida much cheaper to exploit.

https://www.proactiveinvestors.com/companies/news/35381/red-rock-resources-completes-mt-ida-royalty-stake-sale--42253.html

RRR has a 0.75% royalty and two stages payments due.

https://www.proactiveinvestors.co.uk/companies/news/42010/red-rock-resources-sees-mixed-outcome-from-mt-ida-suspension-50095.html

The second tranche from the royalty sale, worth A$4 mln, depends on a definite decision to mine, with the final A$4 mln tranche triggered by the start of commercial production at Mt Ida.

The big issues here were rail capacity to Port Esperance, the need for a rail spur and port capacity at Port Esperance.

McArthur Minerals is also going ahead with its Yilgarn project.

https://smallcaps.com.au/macarthur-minerals-australian-investors-advanced-iron-ore-project-asx-debut/

DYOR

You could not be more wrong. I can assure you that AB is made aware on a regular basis that he has shareholders who expect him to deliver. He also owns about 9% of RRR, he wants a result too. It is not for lack of trying: Migori is very close but it has been close for a while. All the company can do is satisfy the law and meet all the requirements for the licenses to be reissued: the Kenyans then have to follow the law and issue the licenses.

DYOR

So post 23/12/2019 RRR will have three liquid investments: JMS, PBR and RGM.

Worth about £290k to RRR earlier. Loads of sales going through.

This converts what RGM owes RRR into shares.

https://www.lse.co.uk/rns/RGM/board-changesfundraisingdebt-restructuring-a8xil67zy5yq5pj.html

Agreed.

They can now progress Mambare and AES.