Tragic26 Nov 2018 13:42
Your credibility was shot some time ago. Regardless of what RRR said or did you would find a reason to whinge and claim that AB was wrong.
Of the liabilities just under £1mil is the CLNs. The majority has been rolled and so no need for any concern there. Since the year end RRR has had the JMS dividend and Para has started royalty payments.
The management has delivered huge value, it just hasn't been reflected in the share price yet: not that you are bothered.
The idea that none of that has any value is ridiculous but then you are not a shareholder. AB has publicly confirmed that he thinks that there is 375,000 tonnes of copper and 24,000 tonnes of cobalt on just the old Musonoi mine fragment at Musonoi. I have looked in detail at the old Musonoi mine and I reckon that he has it right. The market might not see if that way but it will in due course once people do their homework.
The deal with Winmar means that the Musonoi mine will likely be brought back into production at a low level in a matter of weeks: the workings are still there.
Steelmin has been brought back into production (fine it has since temporarily ceased as stated by AB), it has signed three licenses in DRC (see RNS dated 17/10/2018), it has resolved the issues with Migori and is expecting the licenses back any day and it has completed on the VUP deal in DRC, it also has the Botswana diamond deal with Gareth Penny (ex MD De Beers and current chairman of Norilsk Nickel).
In particular Gareth Penny is not doing his diamond gig to mess around, he will be looking for it to be a big deal in due course. RRR is bed with the ex CEO of BHP, ex MD of De Beers and in a JV with the Congo state mining company.
I also expect that we will negotiate a stake in Winmar as part of the deal for signing a feedstock agreement.
DYOR
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