Member Info for Helpful

https://twitter.com/zenithenergyltd/status/1176091093882068992?s=19

https://twitter.com/zenithenergyltd/status/1176081646757588992?s=19

https://twitter.com/PowerMetRes/status/1176056111348297728?s=19

https://twitter.com/AmberMining/status/1175862486588895233?s=19

https://twitter.com/TereaAfrica007/status/1175649364888477696?s=19

Interesting buy at the end there... just seen it.

Someone thinks they know something...

NB nothing to do with me.

Busy with other stuff.

Nothing to be said until we see the CPR or PQE announces it has restarted production...

Fingers crossed..

I was originally in when it was CEB. I have been in and out 4 times and made money. I took some in the placing for Colter and am well down on that one. Since I have traded one holding and waiting to trade another one. The placing shares will have to sit until they update on Colter and those licences or they announce the hook up with CAV.

I think the CAV hook up will happen but maybe not till after Christmas. CAV wanted a partner that can deal with difficult assets who can successfully remediate them. What has happened so far will reinforce CAV's view on what is needed in a partner and that the partner is ADL.

Rereading the paperwork yesterday I suspect that ADL might want to drill the gas at Selo before deciding whether to convert to a participation right.

DYOR

You should time your investments better.

Regardless of you inability to time investments, this is making progress. I had another read of the RNS from when the deal was announced. There is a good gas prospect at Selo. ADL might want to drill that before deciding whether to convert its costs to a participation right.

DYOR

How is that misleading? "Based on their business plan and current gold prices". They owe us $3mil and have paid a little bit back: next year the business plan and gold prices works out at around $100k a quarter royalty payment. Why not do some research and do the maths? They are about 18 months behind where they intended to be but all of these things time out.

From their current corporate presentation:

El Limon Mine, Colombia
? 225 TPD Merrill Crowe and underground mine
? Purchased in December 2016 for $2 million. Invested an additional $8 million to upgrade from 75 TPD to 225 TPD and to acquire additional exploration potential in 22,000 Ha of surrounding property
? Re-started mine in late 2018. Presently ramping up feed from 5 mine portals on the El Limon vein.
? Targeted production of 14,000 ounces per year at an average AISC of $753 per ounce by 2020
? Significant exploration potential where there has been historical small scale mining

Maths (this is how it works)
Current gold price circa $1,500 oz x 14,000 oz is $21mil gross revenue ish.

DYOR

Not promoting anything, just correcting you because you are fond of dishing out what you intend to be informed comment without doing any research. You have just confirmed it again. Read up on what Para are doing and where they are up to. Either you know nothing about Para and are misleading people or you do know about Para and you are deliberately misleading people.

My links were in response to your comments that Para would produce enough revenue to cover the stationary bill; what is that if not misleading? The Para royalties should be about $100k a quarter next year based on their published business plan and current gold prices.

DYOR

You misunderstand, the body responsible for making the recommendation whether the licenses are awarded or not, the MRB, has already made its recommendation and it is on the cadastre as "Approved".

The MRB makes the recommendation to the Cabinet Minister and he makes the actual award of the license. The MRB was set up by the Kenya Mining Act 2016 specifically for this purpose. The intention was to separate the two acts and to make the process more publicly transparent. For the Minister now to not award the license would undermine the Act.

DYOR

DYOR

I agree with your analysis. These things always take longer than planned. I think that they are doing well. The prize here is not a certain number of barrels with a longer term relationship with the private equity group CAV.

Mr Bop, I am beginning to understand why you have lost so much money.

The JMS shares were 28c earlier this year, they are now over 40c. Yes he has sold circa £330k's worth of shares but the share price of the remainder is going up as are the dividends: no way is that a diminishing asset.

You obviously don't do any research. To make it easy for you...

http://pararesourcesinc.com/phase-1-drilling-program-tr-ue-vein-oatman-az/

Drill hole TVGR-2 intersected 15.5 feet (about 11.1 feet – true width) of gold mineralization in a quartz-calcite vein which averaged 9.39 gpt (0.274 opt) gold. A 5.5 feet intercept (true width 3.9 feet assayed 13.61 gpt (0.397 opt) gold).

http://pararesourcesinc.com/para-resources-provides-corporate-update-2/

The 2019 Q4 plan anticipates the re-start of the mill, at full capacity of 500 TPD, by early November with a stockpile in place. Additional development work is also planned

For current year to date to July, El Limon has produced 1,187 ounces of gold in doré which is a 26% increase of 2018.
The mine is currently focusing on four main development projects including three new mine mouths

You need to change where you buy your stationary from.

Anyway, be pleased at the good news.

DYOR

How can it be dwindling on assets? You can only get to that position on the most twisted logic.

JMS is back over 40c and increasing its dividends
The second half of the JMS holding comes out of escrow shortly
Para has funded itself through to profitability and will be increasing its royalty payments to us
The prices of copper and cobalt have rebounded
RRR is part way the process to secure a JORC report for Musonoi
It has nearly completed the process to have two new licenses issued at Migori and the price of gold is up from $1,200 in 2014 to $1,500 now.

Look at what Migori was in the books at in 2014, look at the NPV10 calculation from below for just part of Migori. Migori could easily be worth $30mil.

RRR does have issues and I know what they are but they are issues of success:

1. If it stays in Migori with or without a JV how will it fund is share of the capex to bring it into production?
2. How will it fund completing the JORC report on Musonoi?
3. How will it fund the exploration work required on the rest of the DRC licenses?
4. When the JORC report comes in on Musonoi, how will it fund the mining plan and the capex to bring it into production?

None are insurmountable and will be dealt with in due course. My view is that Migori is sold and the proceeds used to fund DRC.

Anyway DYOR

PS it couldn't possibly be inside information if it was on a publicly available cadastre. Remember it is always a good idea to do some research. I noticed that you are ecstatic with the good news.

From RRR's presentation on its gold assets....

In 2014, Red Rock commissioned a preliminary technical and economic assessment constituting the first stage of a feasibility study, concluding the viability of the 200koz Au deposit as a standalone open pit operation for generating short term cash flow utilising a modular gravity plant. The outcome of the study is summarised as follows:
Projected life of mine revenue from gold sales of US$95 million (at US$1,200/oz Au price)
Capital cost of US$3 million recoverable within first 6 months of operation
Production of approximately 80,000oz of gold over 9 years mine life
This option gives a pre-tax NPV (at 10% discount rate) of $8 million

That is one 200k oz asset out of the JORC of 1.2mil. The NAV was $8mil in 2014 with gold at $1,200. Gold is around $1,500 now: it is likely that the NPV10 calculation would be somewhere around $20mil.

Migori is a serious asset. I now expect RRR to progress the JV negotiations that it has referenced several times and proceed to monetise Migori.

DYOR

Amusing!

You can see from previous posts that I have referred to the cadastre on multiple occasions. And yes I checked the cadastre and yes I am that sad and no I didn't trade. I have also been all over the DRC cadastre as well and check it on a regular basis.

250 Shillings per square kilometre. It is in the Mining Act.

DYOFR

https://twitter.com/RRR_RedRock/status/1174590704456220672?s=19

At the time the dispute over the licence started RRR had started the work to upgrade the JORC to 2mil ozs.

DYOR