Member Info for SpaceHoppa

Really good in depth interview from the Wealth Holders Podcast.
Not your average 5minutes of ramping answers.

https://www.youtube.com/watch?v=4Pukn3-UVCM

Also robertstronghand from Advfn posted this write up he found from another poster. It is in two parts.

The recent interviews have been extremely useful in tying together all the bits and pieces we have been collecting over the past few months. The most useful bit of information is that the reserve stopes are matching the mine plan (7.8 gpt). This is a huge relief. The main challenge has been driving tonnage to the mill (this in itself is a common issue faced with new mines, so forgivable in my opinion...what is not forgivable is the management leaving us in the dark). Basically, due to the lack of stopes available, the company had to blend the low grade ore from the commissioning period with the higher grades from the mine plan. This diluted the head grades that we saw earlier in the year. The company raised money to open up the East Ramp to add additional headings for stoping; some of these areas only became available to be mined in July. I believe the company had started with two low grade stopes initially, but has since moved up to mining actively from 5 stopes as of November. In the first quarter, there was also the overbreak from stopes outside the reserve plan - they were basically desperate to grab whatever ore they could to feed the mill. These were new discoveries with insufficient geological information so dilution was high. But since then, the company has increased drill rigs from one to four. This will allow the management to schedule the mine plan ahead of mining; initially it will mean the company will be able to plan and predict production two months in advance and eventually to six months ahead. The four rigs are now running and producing 600 samples a day for assaying on site - effectively allowing them to plan and execute in real time with Maryse leading the charge. She is the perfect person for the job as she has also served as SVP of Technical Services at the adjacent Red Lake Mine which has essentially the same geology. Not only are these drills providing much needed geological data, but also adding ounces that were never part of the original mineral resource. For example, the stope being developed and extracted from the East Ramp this month is THREE times larger than the size anticipated in the feasibility study! In effect, the drills are paying for themselves.

Gavster, your comments and mine are for all to read and consider. I have no more I wish to add.

Good to see some life back in to the share price.
Hopefully that is based on positive rumours of good grades and throughput at the mine.
For information, you can sell 60k for 41.75 at the moment.

That is fair to say pauldrayton, there is no guarantee ICSID will rule in Rocks favour yet,
however the other components suggest Rock will win,
the NW-NF commitment by lawyers after looking at the case knowing how much time and money they would have to sink into the ICSID case, and the fact Italy just decided to change the rules of the game after encouraging MOG/Rockto spend $45m. I would be gobsmacked if ICSID ruled in Italy's favour, but it's not 100% won until it is.

For general information, I can sell 400k at 7.51, and 100k at 7.9

At least ICSID have updated their website after 2 years.

https://icsiddev.prod.acquia-sites.com/cases/case-database/case-detail?CaseNo=ARB/17/14
September 29, 2021
The Respondent files a request for reconsideration of the Tribunal's Decision of June 26, 2019.

October 6, 2021
The Claimants file observations on the Respondent’s request of September 29, 2021.

December 20, 2021
The Tribunal issues a Decision on the Italian Republic’s Request for Reconsideration of September 29, 2021....and said do one you dodgy bent flockers.

Nastynick, $125million is entirely plausible however it is better to temper expectations,
and $45m would still mean the world to Rock and the SP.
There is always a possibility Italy may try more delaying tactics,
but as things stand, the only unknowns are timing and quantum of the award to Rock.
And also as things stand, there appears to be nothing now in the way of ICSID rendering their decision this year,
other than they've all Foxtrot Oscar'd on holiday again.

"The Tribunal has made significant progress and confirms that it should be in a position to complete its work in the course of July." - 2nd July

It has been suggested we might have to wait until sometime in quarter 1 for the decision.
I don't see why this should be so.

On 3rd of Aug Rock Rns'd ''the Company can confirm it has yet to receive news of the outcome of the process.''
So it would seem directors had hoped to hear of ''the outcome of the process'' during July, as did we.

Now that ICSID have told the bent ECJ judges and Italy to do one, and jurisdiction is confirmed, there should be no reason why the case, which was expected to be completed in July, should be delayed any further.
I doubt any horse trading deals are being discussed now as that will also have been covered if it was going to happen.
It is quite possible, perhaps likely that we could hear the outcome this week, and like yesterday, possibly during the day.

''so the value is per the market''
===============

and the market valued Pure at £1.60 a year ago and 39p today.
The markets puts a price on everything, but has no clue on value as the above demonstrates.

I reiterate you should not selectively pick A.N.Other company to try and prove a point,
as someone else could pick A.N.Other comapny to prove the opposite!!

By the way, I actually agree the trough feeding Director piglets ramped up the share price beyond it's realistic value,
however what Pure's real value is, can not be decided by comparing/cherry picked A.N.Other company.

My take.

Todays news was uber positive. ICSID took their time but eventually told the biased bent EU judges, and Italy to do one!
The chances of rock winning the arb is 99%+. Why do I say that?

One. Italy obviously reneged on the contract they had with MOG/Rock
Two. The time the trial has taken, if Rock had lost it would have ended long ago!
Three. That Italy have tried every trick they can to delay the award and undermine ICSID's authority.

So it's almost certain Rock will win.

Next question is how much? Rock spent approx. $45mil so should at MINIMUM be awarded that.
At BEST if lost profits are taken into account $350m.
Maximum pay out is unlikely and lawyers take their cut so pay out after lawyers cut, probably between Min $25m and Max $200m. Lets say $60m to Rock to be cautious, tidy!

If Rock have to sell on their debt to say our lawyers, I am sure our lawyers would buy it for 75p in the £,
meaning Rock still get $45million, lawyers an extra $15m. I feel 70% chance of $45m or more.

Next chance of Navitas farming in is, in my opinion high, 90%+. They have NOT come this far to say not interested!!
Next chance of Navitas going to FID once agreeing term is even higher 95% (unless oil collapses).

So Rock are I feel, 99% likely to win case and
collect $45m+ from ICSID even if Italy refuse to pay up.

So Rock have a
99% chance of winning OM case
70% chance of substantial $45Million+ ICSID award.
90% chance of Navitas farm in
95% chance of FID

That is my take.
Rocks prospects have taken a very, very significant turn for the better, because of the Navitas and ICSID RNS's.
It's a calculated, low risk High reward BUY !

''I can see the Italian Govt lawyers looking at RKH and thinking - "if we spin this out they'll go bust''

As long as Navitas are chomping at the Sea Lion bit, that is never going to happen!
Rock management would rather double the share base,
and at a miserly 5pence that would bring in over $26millions.

Still looking Good

It might be the bottom, and time to load up,
however that does depend on a decent final quarter.
I would hope for a minimum of 10,000 oz poured in Q4

Getting the plant running at a higher average tonnage per day and an increase in g/t
could possibly see up to 14,000 oz poured.

I concur. Dismissing the totally bent and biased ECJ comments, which was not even a ruling, should have been quickly done. So I have concerns about this now. We may hear of the decision on Monday, or it could be March!
The rulings importance I feel, has been slightly lessened by the preliminary deal with Navitas.

So, worst case scenario is Rock get nothing, or the case decision is delayed for more years, and Rock have to raise going concern funds. There is no immediate need, as in H1 2022, for extra funds, so with luck a deal with Navitas should see Rocks SP trading higher, perhaps mid teens?? 25% dilution at 10pence would bring in £11million. Dilution is bad, but having reasonable funds is good, and I hope Banker Sam could see a way to get funding to see Rock through to first oil either by RBL or giving up another 5%.

Either a Navitas deal or good OM award will see current new investors sitting very pretty if coming in at 6.5p.
If both happen then Rock will Rocket !!
If Navitas sign but OM drags on, then Rock will do ok, but be held back by near term funding solution.
If neither happen then the fat lady will be bellowing !
Odds are much in favour of Navitas doing the deal, and going to FID, am less sure about the timing of the OM award.

Gavster, I understand your point however I am not sure you get mine.
You compared PAF v PUR and concluded PUR are over valued.
My point is perhaps PAF is over valued? What if you compare Pure to Eurasia Mining, or Polymetal,
how about comparing against Altyngold, or Hummingbird?
What about against miners with a decade of revenue, or against a pre revenue start ups??

You can pick and choose to prove the point you want, but it's of little value in itself, as TrickyDicky2 has alluded to as well.

Pure are a ramp up company with ramp up problems, but huge potential. It is perhaps over valued compared to some,
perhaps undervalued against others. Pur have even more huge high gold potential over what has been found so far, but not yet proven, how do you value that?

17,671 x 0.17p is £3010, at 0.6% interest you would get £18 quid so £120 is very good.

However it is not about PAF, which is a fine company today, it is about comparing PAF today, with Pure today,
and the two are not in the same stage of development.
It would be like comparing Pure with some recent IPO company that had just bought a 50mile2 of exploration greenfield and sunk a few RC holes in it !!

Pure are still ramping up, and making a bit of pigs ear of it so far, but it is early stage.

Pan African Resources is a mid-tier African-focused gold producer,
operate a portfolio of high-quality, high-margin South African operations,
a production capacity of approximately 200,000oz of gold per annum,
$38million profit back in 18/19,
$75m profit 20/21

PAF Apples v PUR pears

Troll Filtered.
Please Ignore and stop feeding it

If you believe Navitas are going to put their money where their mouth is,
and that certainly seems very much the case, then Relax.
Not long to wait and OM can arrive any day or err, year.

That may be a sober assessment, however not necessarily an accurate assessment.
Cherry picking companies or statistics to prove a point doesn't make the point necessarily right.
Pure are still in the very first year of start up production for instance, which the other companies are clearly not.

Management/directors are greedy piglets, most are. The selling of options is very annoying too. But it is not on the scale of last year by a long way so far !! No, todays director sell has in itself, zero indication of how Pure are doing in Q4.

I expect Q4 to show more steady improvement over Q3, but nothing spectacular. The latest relatively small round of trough feeding is an annoyance I feel, but not an indication of anything material.

The share price is going to fluctuate and traders are gonna trade.
Navitas appear very serious about developing Sea Lion!
They wanted in when when Premier were operator, they didn't flinch when timewasters Harbour entered the scene, and now with Harbour out of the way they have quickly agreed to take 65% of all the licences.

Navitas are demonstrably keen to secure the NFL basin. It is odds on they will agree to JV and they have the knowhow, cahooners and muscle to fund Rock and get SL developed.

Any share price weakness is I feel, a buying opportunity for what looks like a high reward, low risk, investment.

The idea Whitehall would prevent a deal between our ally Israel, the Falkland's Gov't and a private UK company,
which also increases Britains energy security and helps Britain's tax take as well, is for the birds.

A deal with Navitas and FID is highly likely at the moment.
Rock - The Turnaround play 2022 !

Can sell 500k for 8.0413pence at the . However I think I'll be keeping them for a ride north.

Once terms are agreed, which I think is 90% likely, price will be back in the teens, FID is almost a dead cert from that point.

Anything from OM will be a big bonus too, but I am more relaxed about the delay now Navitas has shown their strong intentions to develop SL.