Member Info for Rocktapper

Get in now! Onwards and upwards!

https://www.youtube.com/watch?v=i70GhV6j39I

http://www.lse.co.uk/share-sharecast-news.asp?shareprice=CGNR&ArticleCode=28786846&ArticleHeadline=Conroy_Gold_to_begin_drill_programme_in_earnest

The silence is deafening!

Whilst we are all too aware (or at least feeling the effects of) CRA's 60% holding of Mowana and the problems that has caused, we are not aware of how much the other 40% shareholder contributed to the problems at the mine.
The article though, is pretty damning about the whole sorry affair. Ideally it needs investigating by the FCA.

It's a pity the market can't / won't attribute the GBP 66 million NPV of the MBeya coal resource used in the Sanderson calculation to the market value of KIBO. If it did, we'd be looking at a SP of around 8.65p per share by now!

It really just doesn't get any better.

Sorry, it's £500 k rebate due from the HMRC, not £5 million. Us shareholders will be the very last in the food chain (and will probably get nothing back). The bigger question remains with regard to the way the whole thing has been managed by the BoD since before the reverse takeover and the name change etc. Also Kevin vW stands to gain recoup some of his losses for this (and apparently be allowed to go on to other things) whilst the rest of us stand to lose all of our investments. This is a case study in very poor management and judgement by company directors.

As KIBO is registered in Ireland, it may be worth LC taking the Irish Ambassador down to meet one or two GoT Ministers for a little bit of diplomacy....

So the sale of two large gem quality diamonds gives an equivalent value of just under 7% of the current market capital of the company?! Agree, totally undervalued!

Just out of interest and not really highlighted well in today's RNS, the newly defined geophysics EM anomalies 6 and 7 are now in Zaco ground (6 and 7 are still awaiting soil geochemistry results according to the map in RNS 04/02/2019). From the map, it's slightly ambiguous who might be holding the ground over prospect / geochem anomaly 3: Zamsort or Zaco or neither – it’s not labelled – and I do note the colour of the outline of the licence around anomaly 3 but am still questioning who owns it!

If ARCM has only 42.5% of Zaco, then technically it's a 'slip' from the 61% ownership that was had under Zamsort. The requirement for a licence area reduction under Zambian law is accepted but now, if those anomalies prove themselves to be of interest, ARCM will have a reduced interest in them.

I'm saying all of this because I am one of the suckers from the 'Ortac days' who still has to wait for an average of around 11p / share just to break even on his not-inconsiderable investment! Obscuring information like this doesn't help in rebuilding trust.

And no announcement was ever made to say the deal with AMED in June fell through (I think). Also, the original amounts spent on the folly with Andiamo cost Ortac over US$1.5 million. Something VC should be a little bit ashamed of....

Me, losing c. £28k on this "Cradle of Filth".

I emailed the administrators last week to ask what the situation is and was told that they will be issuing a report to creditors and shareholders in early March but that it wasn't possible to comment on the value of the shares at present. I am not holding out any hope. I wonder what can be done legally to challenge the directors and the way the company and operations have been mismanaged.

Didn't KIBO have an MOU with Tanesco at some point? Isn't that a contract? Anyway, it is probably too early to be talking about arbitration. We'll just have to wait find out if KIBO ever finds out what the reason is for the knock back.

....to possibly think about international arbitration.

Apparently, it's inferred that the size of the stones coming through may have changed? 'Big ones' (>50 ct) may be getting crushed at present.

https://www.proactiveinvestors.co.uk/companies/stocktube/12104/bluerock-diamonds--adam-waugh-hails-exceptional-897-carat-diamond-12104.html

Maybe they found a keen investor at Indaba and set it up over the weekend? Who knows but the BOD? Dilution is NEVER good though.

The money is needed to invest in the crushing circuit. In an interview with Adam Waugh last week, it was said that at present, any stones over a certain size are likely to get crushed and so there is potential for (very) large stones to be crushed down (and hence a significant loss of value). They will be investigating how to reduce this risk and also increase throughput. They will need advice from the majors on the best way to do this, no doubt. Afterall, the production of several large gem quality stones would quickly help reduce company debt.

http://www.mining.com/web/botswanas-first-private-coal-mine-produce-saleable-coal-march/?utm_source=digest-en-mining-190131&utm_medium=email&utm_campaign=digest

In the 20th December press release, there was reference to CRA's application for a c. £500k VAT refund dating back to December 2017.
I am aware that Oriole Resources plc (formerly Stratex) have just won a case against the HMRC for a VAT refund and have started to receive payments.
If CRA were successful in gaining the refund referred to, it might help keep the wolves from the door for a short while longer although I would guess that it won't be enough to save Mowana / Lebaom enitrely.

IMVHO there will be at least one mine, one day resulting from the anomalies published yesterday.
However, this is not Solgold - totally different geology - although there is the possibility that the Majors' interest in Arc may start to increase in the same way as it has for Solgold.