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If it works out we should be well past 500 bopd net.

Hopefully they are already working on the next package of wells to take on board September time,: this funded from cashflow.

Work through the numbers. Morris 1 should have the gas online soon. Multiple that out for the new wells and then the Austin Chalk. Mayan has got a bargain on the new wells.

Let's hope Cornhill and the MMs are very short.

Give it 8 weeks and we should have a serious company here.

If there was commodity down turn and the company was suffering then surely you would sell? We are now in a commodity super cycle upswing. RRR is a different vehicle now and the environment is different. How does going on about what happened 7/8 years ago help anyone? You sit on the sidelines and nurse your feelings: I will get on with making some money. DYOR

BSc Hons Quantitative Business Analysis, two fund management qualifications and I do deals all day long. Oil & Gas, mining, property, technology etc. I see a lot of deals and so am used to what is in the them. What some people don't seem to realise is that the real world gets in the way and what you think will happen might not. It looks to me that investors who got burnt four and five years ago got their timing wrong. However, it is not relevant to the deals that the company has on the go now. Some might not work out they way AB thinks they will but it has gone well for the last twelve months. DRC and Migori might not work out but they look pretty good to me and pretty close. I like what AB is doing at the moment and in my dealings with him (which are very commercial) I have found him to be okay. I can't say that he has tried to mislead me in any way. When things go wrong investors need to accept that they have some responsibility. I make mistakes and I blame no one except myself. Thanks

Sorry Tragic you really do have issues. SOTP is a standard form of comparative analysis. It is used in Private Equity all the time. Try reading what I posted and exercising your brain cell. Either the SP catches up with the SOTP or one of the five options I listed happens. I can tell you now that if we are lingering around this price come September and RRR has made the progress I think it will on the various assets, that I will personally arrange for it to be taken private. I have been involved in public to privates in the past and one of my mates has done more than anyone else. It is not a big deal. Anyway back on filter for being excessively boring. DYOR

https://en.wikipedia.org/wiki/Subutai Funny! I liked the imaginative bit.

https://en.wikipedia.org/wiki/Subutai Funny! I liked the imaginative bit.

Member since 19/06/2018 two posts on Mayan both negative. Is this deja vu all over again?

No wonder you lost your shirt, you really have no idea. https://www.investopedia.com/terms/s/sumofpartsvaluation.asp If the difference between the SOTP valuation and the market capitalisation continues to increase then at some point one of few different things happen: 1. The board of its own volition decides to sell assets at market value and distribute to investors 2. The board is forced by the investors to pursue 1 above 3. A third party comes in and buy the company at a discount to the SOTP valuation 4. The company is taken private at a discount to the SOTP. 5. The board gets changed. To try to forestall any of the above, the board of the company either executes an aggressive dividend policy or does share buybacks. Whether RRR can do either will down to what the figures look at the year end. Hopefully, Migori gets sorted and Steelmin gets signed off or commercial production then RRR can write the asset values back into the balance sheet. It should be able to do similar with regards to the Para assets and royalties. One big seller has been taken out of the market at 0.875p which leaves PG. I know what price he wants to sell at and it is north of here. Keep hanging around Tragic and this will just get worse for you as things progress. DYOR

The trades were buyer to seller direct at a negotiated price. ie., not through the MMs. These types of trades have to be reported just the same as any others.

Do you mean was proposing to delist and is now selling off assets?

Weeks. This is an industrial process designed to run at a particular capacity subject to bottlenecks and capacity constraints. Once you know you can handle the process and plant you would run it flat out. You wouldn't take months to step it up. I would expect them to be capacity (whatever number that turns out to be, it could be higher or lower) by the end of June unless they have an issue somewhere.

Who would have guessed? Both good news!!

Tern was getting pumped by someone and he has been after it for a while. Mayan is all good. Hopefully, we should hear that PQE is live very shortly and more wells from Mayan. In the real world things take time, not least the legals. Another bunch of wells like Morris 1 will go down nicely and we should hear about progress at ZR in 6/8 weeks.

Depends how much value AB delivers on his deals. Hypothetically lets suppose: 1. Gets the Migori licenses back on less than onerous terms. He then executes a JV with cash up front and carried on costs for a while: lets say RRR goes down to 35%, gets $5mil up front and carried for $2mil. He has to make payments to Kansai, he must know the money is coming from somewhere and he has repeatedly referred to a JV. 2.DRC goes ahead with the right to 56% of something like $6bn/$7bn metal in place and he then farms down to say 40% with cash upfront of say $2mil and carried for $2mil. 3. Steelmin confirms commercial production in June and sales contracts 4. Following his last dollar in/last dollar out philosophy as per Steelmin, he executes one or more similar deals in mining finance in Africa. 5. Steelmin was a classic finance deal that has worked out well for RRR and should by the end of June look very good. AB can get more of these types of deals. 6. AB has said he will look to distribute funds: that is down to what the figures look like for this year and what value he can write back into the books. How much value is there in RRR at that point. Regardless of shares in issue what matters at the end of the day is what the value of the underlying assets are. Look at AB's comments on here over the weekend. He was talking about de-risking Migori and DRC. It wouldn't take much to buy out all the loose stock. Remember that AB subscribed for some CLNs and equity not so long ago. It is very much in his interest to get the SP up asap. We are in for an interesting second half of the year IMHO DYOR

Confirmation of progress and things coming together. We should have more incoming news shortly. A lot going on for such a small company.

https://twitter.com/SHARES_FTSE_AIM/status/1008599235166703616?s=19 All going to plan

I saw the interview with their CEO and he came across as someone who knows what they are doing. If it is decent terms, if should be findable.