RE: Para Resources2 Jul 2019 10:02
1. Para is an investment for RRR and it going up in value matters. I expect it to be sold and the proceeds reinvested in DRC.
2. I expect the Migori license to be forthcoming, as obviously so does the company.
3. I expect the company to then execute the JV it says it has lined up on Migori.
4. JMS is doing well and I expect some sort of deal to be done on the iron ore assets.
5. I merely posted the information, people can make of it what they will.
6. I agree on the money wasted on Steelmin and Amulet: I have made it clear to AB, face to face, what my thoughts were and are. I agree that he shouldn't have done the ABM deal and the shares should be sold asap.
7. Musonoi is worth a lot of money: how much who knows? I have had a couple of people look at it for me and they all say the same thing; it is in the right address.
8. The issues on Musonoi are: how much pushback is required; how much has to be dug out to get at the ore; are the sulphides there; what is the precise metallurgy of the oxides and sulphides. NB Musonoi was back-filled 60m.
9. RRR is on with getting a JORC report done. I expect (as I have said before) to say that there is around 100,000 tonnes of copper in place, recommend further drilling to extend the area of the resource and further drilling down into the sulphides. KOV next door reckons the resource goes down to 600m: Musonoi was mined to 100m and the resource crosses the boundary line.
10. The only issue here is how much Musonoi is worth? If you look at the Nzuri comparator, I reckon maybe $100m/$120m. The secondary issue is how much work does RRR have to do to prove that up. If they can get full value for Musonoi, I agree it should be sold. I am not in favour of discounted deals on the asset.
All of the above has been said to AB. DYOR
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