Member Info for panda1

FED has now flipped to data dependent

I see that Bring Mineral was the other party to the JV. Was it party to the fraudulent sale or is it also trying to recover funds owed to it.

Who owns the remaining 24.9% of the JV? Mr Bell said RRR owns 50.1% and the party (VUP?) that fraudulently sold the asset owns 25%.

The $430million the asset was sold on for is a staggering amount and Bell said he would fit for every cent that is rightful owed to RRR shareholders

When analysing the individual assets the minimum valuation I can envisage is £85m (in a bad market) and wouldn't be surprised to see a £250m market cap once Kouroussa is producing. We will likely all be kicking ourselves for not loading up more at the current share price LOL

I'd be surprised if there's many sellers willing to dump shares at a £35m market cap considering the potential value of Yanfolila, Kouroussa and Dugena. We should be looking at multiples of that when production commences at Kouroussa.

The figure announced is 'average' production in H1. The well Jono 44 is referring to only commenced production at the end of March so only 3months worth of production from it is included in the rate of production for H1

Mr Bell was certainly tweeting about the arbitration hearing whilst he was in the DRC. I think the main objective of the trip was to conclude the arbitration process. Should get official news soon as the decision is 'imminent' and will hopefully lead to the funds owed to RRR being released

Good to see a steady improvement in production and Yanfolila should be back on track in H2 with the processing of higher grade material

started looking at BLOE and just read the q2 update. I see the company is selling its gas production at $4 per MCF which is a fraction of the price in other European countries. Why is the gas price so low in Georgia and is there any prospect of it rising?

50.3m @ 1.53% copper is an excellent result, especially given only 4 holes were dilled

In May 2018 NTOG drilled the C8 well with a working interest of over 70%. The well had to be abandoned due to water ingress. The share price was 5p and it then slid to 0.2p eventually not helped by numerous placings and it took the company 4 years before drilling another well on its own which was also abandoned. The Fouke wells drilled by Cypress have been successful so perhaps the company would be better to stick to farmouts?

Strange RNS. Copper concentrates usually contain around 20-35% copper so I don't really understand what the company is making a big deal about in today's release.

I know for a fact Mr Bell is not Helpful, I won't post his name here but he works as a financial advisor.
He is in regular contact with Bell so he could have been made inside until the outcome of Bell's meetings in DRC are released to the market

Tenaz shares have fallen to $2 Canadian dollars which is lower than the price on the day the takeover was announced. It could fall more today now with the uncertainty over the deal so it may not be in a position to offer improved terms

Shame they aren't proposing to replace the directors :-(

Must be a very positive resolution if the government want to hold a press release

So the company needed to raise $30m in equity plus and have access to a large debt facility which suggests it is going to continue burning cash for the foreseeable future.
"Prior to agreeing the Shareholder Loan, the Company initiated efforts to raise US$30 million in equity which if completed would have provided access to a larger non-dilutive debt facility offered in the form of a non-binding term sheet from a financial institution. However, due to the extremely challenging equity market conditions it became apparent that it was unlikely such an equity financing could be closed at this time."

Mr Bell went to DRC to collect the money owed to RRR's subsidiary. Didn't he say somewhere that he wouldn't leave until he achieved this objective?

Is the umbrella agreement binding? I can't see anywhere it says it is binding so assume it isnt

The aborted placing price for the $30m fundraise was rumoured to be 5p so perhaps it will fall to that