NEWSLETTER CONTINUED Still holding Rip. A_D
NEWSLETTER CONTINUED RRRâ€¦ XXXX It was â€¦ then 0.41 now .
Jupiter Mines Update New video today 01.08.19. Another Dividend on the way. A_D
Jupiter holdings Todayâ€™s RRR Jupiter announcement is certainly good for RRR. Jupiter share value values RRR Holdings at $6.5 million dollars around Â£3.6 million pounds. The Dividends paid also adding to nett worth of RRR.
Para Resources Signs Target Pricing Contract Mining Agreement for Gold Road Mine Vancouver, British Columbiaâ€“(Newsfile Corp. - January 10, 2019) - Para Resources Inc. (TSXV: PBR) (WKN: A14YF1) (OTC Pink: PRSRF) (the â€œCompanyâ€ or â€œParaâ€) is pleased to announce that effective January 1, 2019, it has entered into a Final Services Agreement with Clark Construction Group, LLC (â€œClarkâ€), a Maryland, limited liability company whereby Clark will provide contract mining services at the Company-owned, Gold Road Mine in Oatman, AZ. The contract transitions from the original â€œtime and materialsâ€ contract that was previously announced in November 2018 with an open book Target Pricing contract. This new contract establishes the basis on which mining and extraction will occur at the Gold Road Mine. Clark has already been present on the project with equipment and crews and Atkinson is currently driving an exhaust drift in preparations of installing an exhaust fan to upgrade the ventilation system, upgrading the main decline to accommodate larger trucks rehabilitating the secondary escape routes and remediating the previously announced ground control issues. In addition, maintenance, testing, repair, and general cleanup of the mill has been completed. The mill is now in functional condition with the exception of additional ball mill liners and first fills which are expected later in January. Mineralized rock production is on schedule and expected to commence in late January 2019 with the re-commissioning of the plant with first gold pour anticipated in February 2019. Geoff Hampson, Paraâ€™s CEO states, â€œWe are very pleased to have now transitioned our relationship with Clark Construction Group to a Target Price contract which will ensure continuity of costs and production. We have implemented several key bonus programs to ensure that Paraâ€™s and Clarksâ€™ interests and incentives are in sync. Clark is one of the most experienced and respected building and civil construction firms in the United States and they bring extensive experience and knowledge to our operations and capacity. The partnership between Clark and our highly skilled and tested Para team will ensure a smooth and successful production ramp up.â€ On other news with respect to the Companyâ€™s El Limon Mine in Colombia, Para is pleased to announce that the mill continues to perform as anticipated and that the ramp up of feed is continuing. Para is now assisting several of the larger formalized artisanal miners with equipment, technology and management. The new winch and the new tailing disposal site at El Limon are expected to be completed by the end of Q1 2019. The current ramp up at El Limon is anticipated to move the operation into positive cash flow in the coming months and Commercial Production is expected to be declared by the end of Q1. Paulo J. Andrade, BSc Senior Geologist, vice-president for Para Resources is considered by TSX and ASX a Competent Person according to CIM (NI-43-101) and JORC standards as a member of the Australian Institute of Geoscientists (MAIG # 6136), who is responsible for the geological disclosure contained in this news release. ABOUT PARA RESOURCES: Para Resources Inc. (â€œParaâ€) is a junior gold mining and exploration company. The Company owns two projects that couple areas of highly prospective exploration potential with an existing mining and milling operation that can generate cash flow to support an exploration program. Purchasing existing and fully permitted mines and facilities dramatically reduces the exploration risk as the small mining operations are profitable and provide excellent returns as a stand-alone entity. This is a unique approach to developing â€œworld classâ€ assets. In addition, Para is unique in that the Insiders have invested more than $20 million of their own capital and own approximately 70% of the equity. Paraâ€™s management team is seasoned and proven, having discovered, built, managed and sold several different mines over the last 40 years. The Company has two major projects: The Gold Road Mine in Arizona, USA and the El Limon Mine in Zaragoza, Colombia. The Gold Road Mine, Arizona, USA In August 2017, Para, through its 88% owned subsidiary Gold Road Mining Corp., acquired the 500 TPD CIL/CIP Gold Road Mine and Mill, including patented claims and a mill and processing facility, located in the historic Oatman Mining District in Northwestern Arizona. END - - - A_D
Re: Presentation Available Certainly an easy on the eye presentation,as you say nothing new explains things simply withouttechnical content.If RRR can progress the Gold Tailings situation to production at Migori this year cash flow wouldimprove substantially if the current price of Gold holds. Ivory Coast Gold exploration looks promising, but long term to production and only small %holding. Current situation on investments,cash flow and future cash flow certainly a big improvementset against previous years trading. Must agree share price too low taking into account future potential of RRR. 2p will be nearer the mark if this year delivers the investment returns(and maybe even a Dividend).
Presentation Available A new presentation has popped up on the website.[link] particularly new, but a nice confirmation of cash in bank and prospects. With JMS and 4 Points, there's a $1m+ per year income stream, plus certainly good news to come form Steelmin and hopefully Congo Copper/Cobalt project. This is just way too cheap now - I'm topping up at this level./6
Cobalt The car and battery industry are panicking and and forward buying any Cobalt that isOr will become available.If the tailings that RRR are doing a due diligence on with CobaltBlue delivers positively it could well be a lucrative investment.
Re: deal Time will tell Andrew - sorry Caraldo - because other than Jupiter everything else he has got involved in has failed to deliver.
deal Tin hat on! Defending my friend Andrew Bell is always a way to get the modern equivalent of hate letters in green ink. But here goes anyway, proof that the guy can do smart deals and that those who say everything he does turns to dust are talking rubbish. Let's just look at some facts.Andrew Bell gets a lot of stick but if you look closer, he actually does some very solid deals from the huge success that is Jupiter Mines (now a dividend producing company) to his latest investment in Steelmin, a ferro-silicon smelter in Bosnia which is now entering production. Red Rock has pulled out a cracker of a deal getting all its investment capital back and a free equity carry of 22% of the issued share capital of Steelmin and didnt have to dilute even one share to get to this result. His financing from RiverFort was a secured bridge with no equity involved which was great for shareholders.Last year Red Rock Resources (RRR) came across Steelmin in Bosnia, a venture that was looking for the final stage of capital to bring its smelter into production. The opportunity looked to have potentially very attractive operating and financial characteristics once in production.Previously Red Rock had informed investors that it would minimise issuing equity, as their shares stood at a very large discount to true value, and it expected this discount to be unlocked by the anticipated listing of Jupiter Mines, where it held over 20 million shares.So the question became whether something could be designed that would meet Red Rocks need to control risk, minimise dilution and would offer an attractive return, and would be acceptable to Steelmin needed to bring their ferrosilicon plant in Jajce, Bosnia, into production.The project itself looked interesting. A well-built Yugoslav plant, with one 48 MVA furnace installed by Elkem and one 30 MVA furnace installed by Tagliaferri, could be in production from the first furnace with one final push, and would then be capable of 36 million annual revenues and 7 million EBITDA.In collaboration with Riverfort, Red Rock executed a process of intensive negotiations and due diligence with Steelmin to complete the last dollar finance. On 23rd June and 3 July last year the deal was announced. Red Rock would borrow a $4.4 million Note from a consortium arranged by Riverfort, and would then lend to Steelmin a 3.85 million Loan. The interest rates were aligned in each case at 13%, and the fees were aligned, but though in principle a back to back secured loan that approximately matched terms for both RIverFort investors and Red Rock.Steelmin believed it might be able to refinance the Loan within a couple of months, but was confident of doing so from a letter of credit once the plant was in production around year end. It was reluctant to give Red Rock the equity it wanted. The compromise was that Red Rock received 16%, and after 1st September would receive another 1% a month until repayment.In mid-January Steelmin signed up a new longer term lender, which would also provide additional working capital and possibly expansion finance, and on 21 February, less than 8 months after the initial announcement, Red Rock announced that its Loan had been repaid in full and it had repaid the remaining part of the Note.Red Rock received 4.3 million in repayment, and having itself repaid $1.73 million since September was left with a $3m final payment to make (so a total of $4.73m) and a residue of $2.28m in cash. The back-to-back was profitably unwound, and Red Rock holds now an undiluted 22% interest in Steelmin, which is preparing to start production at the end of the month. To add icing to the cake, since the investment was executed there has been a 20% plus increase in the prices of the main product, ferrosilicon.Now can someone tell me why that was not a great deal for Bell and Red Rock?
Re: Dividend Other than being a nice return for long suffering shareholders, a dividend I think would both boost the company profile and share price. RRR has received nigh on £1.5m in dividends from Jupiter to date, RRR shareholders have received squat diddly.Quick reckoning...Cash at Dec17 £125kSteelmin proceeds £977k + £643k ($912k)Jupiter Dividend £353k ($501k)That's £2,098k in the bank presently folks, less any expenditure in the quarter Plus near term expectations....El Limon Note £593k ($840k)El Limon Royalty Q1 £70k ($100k)Jupiter IPO funds £1000k (A$1842)So £1,663k due in next 2 monthsA dividend of 0.1p/share (10% yield) is easily affordable ~£510k and leaves £3m for commitments to progress existing projects. What say?/6
Re: Dividend no chance
Dividend its about time a Dividend was paid out of the spare cash.Spending it on the Kenya tailings is throwing good money onto a bad investment.Shareholders deserve a better deal out of RRR .
Re: Jupiter IPO plans not sure how it got the sell, I meant to have Hold
Re: Jupiter IPO plans I am not surprised that the SP hasn't moved. As I said in my Post on Friday, AB has very little respect in the market. Until money starts coming in from other sources and filling the coffers and he doesn't spend it on other projects, RRR is only valued on Jupiter.It is frustrating but the only facts Mr Market has to go on is the debacle of El Limon, Melville, plus in RGM there has been several delays regarding Rosa, so the SP stands still until those income streams start generating cash. If past results had been different then the market would have reacted very differently. If Steelmin etc start going with few problems then people will forget and sentiment will return and the SP will start moving north, sadly, until we see anything different why would the Market react any differently?For the record my average is 10p and I would love the SP to get to those sort of prices and I still think that we can reach that, but it is still a gamble.....