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From June 16th RNS " The Company can therefore start production and sale of lithium product."
Am I being picky on the use of word choice?
Can is not the same as "have started" or "will start"
The permit gives ALR/RRR the right to start but it is not clear that production has started or will start
Is the shift in priorities mentioned by Helpful to picking up properties and not get cash flow?
Spec agreed. Not sure why they need to spin it but they allways have.
I thought when I logged in and saw RR up by 30% Congo had come in. Rolls Royce unfortunately
No one knows:As per the ŔNS The company will update when certain milestones have been achieved (See what they have done there 😉)
Failure to update the market on the convertible bonds. Very poor
Where is the money and interest payments coming from ?
Bell is probably working on the next fundraise and will say in interviews that it’s to fund imminent lithium production and to fund the recovery of the Congo money. Sound familiar.
Jr he was torched for imminent !
I think he will put a pin in the list so brewing ? Looming ? Anticipated ? Threatened ? On the way ? In the pipeline ? Close ? At hand ?
Bell Bingo
Too many uncertainties here atm to make an investment anything other than a gamble. Plenty of less risky investments about to house any spare funds imo
Capt Kurk asked and answered-if not paid off then they get rolled over
Dvharrison-LOL of course there is risk/gamble, yes there are lots of alternative places to invest.
Personally I like the risk vs reward
Spec trade desk who is bullish here was confident they were paid off from recent raise. I asked him if he definitely knew and he did not respond.
Personally I see a roll over as a vote of confidence as they must worry about their capital. Simple answer wr don't know. Plenty of tweets about life in DRC re fabrics and not being a holiday destination but all rubbish in reality. I beleive they have been rolled over but AB won't disclose as he's blown the fund raise and many think it was used to settle the CLNs He gambling on DRC and some Lithium sales. Fingers crossed.
Banbury - I said Riverfort and Diversified were settled and that is as per RNS.
Not the CLN Helpful and his mates arranged last year @ 0.60, that technically needs to be rolled over still or terms revised. If they roll over at the same price that will be a sign of confidence. If revised at say 0.30 it will still be bullish. If materially less than the current share price then not ideal tbh as they will create another overhang.
The risk reward remains favourable but no arguing it needs news.
Thanks Trade - can't speak for his mates but Helpful is super bullish so will no doubt role over on existing terms.
Tradedesk after the CLN twelve month period the CLNs end and it reverts back to money owed by Red Rock. Yes i do think most CLN holders will roll over for another year but it's not like the CLN holders are in a weak position, afterall they lend the company in cash so after the 12 month CLN period ends they can if they choose ask the company to pay them back in cash.
I'm aware of this.
Dukey, there were two tranches £623,000 + £50,000 + 12% interest. So according to my calcs Red Rock would owe the lenders just over £753,000.
So just a guess by me but i would imagine if the lenders didn't want to roll over and Red Rock had no DRC money or Bin hill money then Red Rock would have to do another fundraise: they would probably have to lend from a death spiral lender, they probably charge Red Rock well over £50,000 in fees. Then of course there is the drip drip effect of share price devastation of the death spiral lenders. So all in all that wouldn't be good.
Tradedesk, you were giving the impression the lenders could only roll over. You didn't mention that they had the option of asking to be paid back in cash immediately.
Though i do think they will roll over. Although i have no idea who Yewtree capital are. They had £256,000 in clns. If they have no connection to Lundy they may request repayment.
If Yewtree capitaln did want paying back immediately then £256,000 with 12% interest would mean Red Rock would have to pay back almost £287,000.
I imagine Red Rock are now running low on funds so if the above wanted paying back in cash i bet Bell would do a fundraise well above £600,000.