Member Info for Helpful

Not at all. It was nip and tuck a while back but I think we are sorted now. My view is that CW has been too nice to people up till now.

There is a big opportunity in the US for companies like Mayan. There are assets out there that are "stranded": the owners cannot do anything with them and the larger players aren't interested because they are too small and too much hassle. Deals costing $500k to $2mil that need a bit of love, capital and technical expertise. That is Thom Board's sweet spot. Once we get past the next three months I think we will be picking up assets on a fairly regular basis and probably using debt. If NTOG can sort out a debt deal with Washington Federal then so can we.

DYOR

Done some more reading on this Kalongwe deal: I am happy it can be used as an analogue for Musonoi. We just need that JORC report to confirm things.

DYOR

https://twitter.com/Roskill_Info/status/1100497492263735299?s=19

Well I was expecting a bit more of a statement then that.

As I said, you have a good day.

https://nzuricopper.com.au/kalongwe-copper-cobalt-project-drc/

Use that as a read across or analogue for Musonoi.

Just look at the numbers! RRR has more at Musonoi and five other licenses.

DYOR

Remember what I posted about M&A in the copper sector?

https://twitter.com/AmberMining/status/1100818008681918467?s=19

You have a good day, I am sure someone loves you.

$57.42 heading to $60

These are the 1620 Capital guys
https://twitter.com/RRR_RedRock/status/1100723376543408135?s=19

Slapper, judge for yourself: this is the interview that AB gave when they closed the DRC VUP JV

https://www.youtube.com/watch?v=3ZTB0NlRFL4

This what he said re the JORC report and Musonoi

https://www.youtube.com/watch?v=qV1DxsWKXKI

If you check out the new Corporate Presentation you will see that it clearly states up to 400,000 tonnes of copper and 20,000 tonnes of cobalt at Musonoi.

The JORC report is on its way. Once we have that there will be no wriggle room for AB. He quite clearly thinks there is a lot of copper and cobalt at Musonoi.

If that JORC report is going to say that there is no copper and cobalt there is he is going to a lot of trouble to prove it.

Don't forget that we were given these licenses as compensation for losing out on the tailings deals: if they are inadequate compensation then Gecamines will have to come up with something else.

DYOR

Well AB has variously and at different points said that he thinks that there is up to 400,000 tonnes of copper there. If you check out the new Corporate Presentation you will see that it says up to 400,000 tonnes of copper and 20,000 tonnes of cobalt.

We will have the JORC report shortly and it will either back up what AB says or it won't. Any decent quantity of copper there and we have a bargain.

I don't know whether you have ever read a JORC report but they are very detailed. I have a copy of the JORC report for Mambare and it goes to 104 pages. AB reckons that the JORC report will back up what he says: lets suppose it only partly backs him up and he is exaggerating/wrong and it comes in at 50,000 tonnes and not 400,000 tonnes, that would still be a result.

Just to be clear the monetary value of 50,000 tonnes of copper is around $300mil. 50% to RRR, lets suppose that the net margin is 10%; RRR has a stake worth $15mil. RRR has a market cap of a bit over £3mil. Any decent quantity of copper at Musonoi and we have won the lottery.

For the record I think that the JORC report will say that further work is required; that more drilling is required because the full extent of the resource has not been geographically mapped, that the assumption is that the resource goes down to 500 metres but it could go down to 1,000 metres and that areas to the North should be drilled as it is prospective for copper and cobalt.

I don't anticipate that the further work would be done till next year. The immediate need is to get Musonoi generating some income.

DYOR

The above went too soon.

If the Musonoi JORC report comes in at anything over 100,000 tonnes of copper we have won the lotter several times over. There is a copper boom coming and the price is going up. That in due course will be reflected here. Either RRR will mine the asset itself or it will do a JV or it will sell its position out.

After that RRR has the other five licenses.

DYOR

Unfortunately there is an ex Wives Club on here that invested 6/7/8 years ago and are well down. Tragic was a big ramper of the share and RGM.

For some deep-seated psychological reason they can't accept that things have moved on and the company as it stands today is not the company it was 3 years ago or even 1 year ago.

Whether they admit it or not the company has real assets worth a multiple of the current share price. AB is out in DRC this week dealing with matters on the ground and as it says in the updated presentation he is expecting to get the license back for Migori anytime now.

Once they haver the JORC report on Muonoi AB will be able to back up what he is saying about that asset.

What are they going to say then: The JORC report is nonsense or some other reason why the Musonoi asset is worth nothing?

If the JORC report backs up say 200,000 tonnes of copper at a 1.5% cut off with grades between 3.5% and 5% will they then accept that it is a valuable asset?

There are reasons to believe that the resource might be higher than AB has been talking about. Historically in the DRC they ignored assets with low grades; anything less than 5% was regarded as a low grade. If you were to find a new asset these days with 5% grades people would think you have won the lottery. Look at the fuss over the MOD Resources copper asset in Botswana: it is very likely that the grades at Musonoi and the other licenses will be higheer than MOD

https://www.cnbc.com/amp/2019/02/25/oil-may-soon-hit-75-goldman-warns-but-the-rally-wont-last-long.html?__twitter_impression=true

https://twitter.com/AmberMining/status/1100531116862291968?s=19

Well they have said it again: target 400,000 tonnes of copper at Musonoi and circa 20,000 tonnes of cobalt. They have should have the JORC report back in about 8/9 weeks.

That is just one out of the six licenses.

Current copper price...

https://moneyweek.com/502561/how-to-invest-in-copper-bull-market/

DYOR

Worth a read

https://www.rrrplc.com/wp-content/uploads/2019/02/25Feb19_RRR_FINAL.pdf

https://twitter.com/HedgehogTrader/status/1100048498177830913?s=19