Firering Strategic Minerals: From explorer to producer. Watch the video here.
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0.049p
Ouch new record low of 19.3m at 0.045 !!!
Helpful called this well.
No money to pay wages ? Sam has us over a barrel.
All in my opinion and DYOR.
BB - Seems this share only goes in one direction - Is RRR nearing the point where the last one out can turn the lights off???
The future raises at these levels will now surely be so destructive to LTH or even newbies buying in today that there appears to be very little enticement to even take a punt without concrete, company defining news.
I'm thinking most still hanging on to what little investment remains here are now firmly in the requirement of 50-400%+ increases just to get out at break even.
I mean seriously - why would anyone punt on this now given the lack of cash and the track record of raises?
How on earth does a CEO stay in position so long with this kind of record?
How do some investors continue to explain away how unlucky, poorly treated, badly governed AIM is to justify the drop here - the mind boggles...
...Still nice to see Lithium on the rise again eh, will come in useful when RRR finally flog those 200mts at break even to try and keep the lights on.
Talk
I've never been convinced the 200 tonnes existed time will tell.
They got caught with their pants down on the photos and i think that was when trust finally went.
The NOMAD took his bat and ball home and that's when Helpful started moaning that the problems were NOMAD related.
This article was by a reputable financial journalist on that issue
https://investingstrategy.co.uk/financial-news/is-the-aim-market-an-unregulated-mess
Bell said updated Lithium photos (ie not fake ones) would be forthcoming but surprise, surprise, they never materialised so I also think that trucks 2 to 8 containing Lithium never existed. Imo.
We actually don't know Truck 1 existed.
You may remember Mr Bell told stock box it was all in Harare but Helpful explained it as him talking impresisely.
All the zealots on here bang on about history not being relevant but the sorry tale of Lithium is not even over a year old and tells you everything about trust. Five Chinese buyers task force etc.
IMO it's because of Tin Hill that FASO gets no traction however hard the company try.
You can only cry wolf so many times
RRR via their boss have said (slightly paraphrasing) lithium has been obtained from other producers and is in storage during the currently lower price.
The pivot is to a commodity of a higher price and as a small company they have to concentrate their focus on what they are close to market (paraphrasing an interview).
The gold assets aren't knew, the commodity price increase is recent so it is for people to judge on their own explanations.
Personally I've never been that bothered about the lithium although it's nice to have, if it is in a cave somewhere and there is price recovery - the cave might go up in value.
Nike - confirming the Lithium actually exists and there was 200 tonnes would be a seriously smart company move.
Many posters including the financial press have real doubts.
There on in is the Trust issue the company has.
Put us straight on Lithium 200 tonnes ? Even Helpful whose known for his loose lips has no comment on the 200 tonnes.
One variation to that, Banbury, it's not being sold any time soon it seems but confirmation of existence might compromise the physical security... so it comes back to "judge us by our exports" or even the domestic market if regulations / plans change.
My judgement on the "white gold" will wait, I have always quite liked the company for its' gold projects balanced by a little diversity - as with everything, time will tell.
Nike - I don't see any connection between existence and physical security.
All the ask is for an update it exists and what the plans are.
A large amount of holders in here lost money on the Lithium hyperbole and are owed an update. Saying Beira or Harare is hardly a security risk.
Well, it seems that it is Beira and Harare according to the company half-year report of 28th March 2024 - other assets section.
Before full confirmations it always comes down to "trust", faith - belief based on how one reads the available information and the wider political and economic issues.
I think the company is quite busy at the moment, there has been some evidence of that, confirmation will take time, hopefully there'll be a few dimes...
Nike - I'm the accountant!
It would be stock for resale. Nothing of the sort in the half year accounts.
RRR own 47% of ALR and its probably more appropriate to their acounts re consolidation . I've reviewed ALRs accouts at CH and they pre date the period so can't draw any conclusions.
Needs a clear statement of whereabouts IMO. No evidence through accounts
Well Gold has now hit a higher low'' and it's new base is now $2310 per ounce'' and a 79m buy and a 25m buy has just taken out the 48m sells in RRR so there is still cause for optimism regardless of the day to day manipulation..
Penultimate paragraph of Other Assets section March 28th 2024 referred to lithium as "current stockpile" in Beira and Harare. That was from the half-year report, recent StockBox interviews on YouTube are quite good and he is a fair interviewer.
Your stated belief Banbury goes against what the company boss has said in recent interviews and goes far beyond - by way of surmiding what is stated in the haf year report.
Stating surmised option as fact does not make it so...
Spending time repeating a theory does not make it evidence of fact - it just confirms, a repetition of stated opinion...
That's just the wordy bit Nike.
Nothing on the balance sheet to indicate any asset holding that classification- goods held for resale or stock and nothing going through cash flow statement.
I'm not a forensic accountant but know a bit about accounts.
Sorry lots of questions to answer for me and many others on the mercurial 200 tonnes.
The year end accounts are audited and in far more detail so should reveal a lot.
Of course selling a stockpile now even at a loss would be better than a fund raise :)
It would not be better to sell a stockpile "now" if it distracted and slowed down progressing the stated priority.
Full year report will, I agree, be more detailed, that will be autumn by which time a bright breeze might have blown away some of the "bad" - which would be good.
Basic maths says it would Nike
200 tonnes at say 1k a tonne = 200k.
The equivalent fund raise would be 500m shares at 0.04p or 12.5% dilution
So what if RRR miss out on marginally higher lithium prices. Its called selling an asset to avoid dilution something AB tells us he wants to do relentlessly
Unless of course the 200 tonnes is as fake as its pictures.
Bottom line is trust again. Very few IMO beleive in the 200 tones too many were burnt in the hyperbole RRR created on Lithium and that's why FASO can't gain traction.
Time will tell.
Mathematically Banbury you might find more than two hundred ways talk about 200 tonnes.
Historically you stated more cautious positivity regarding the lithium than me regarding potential sales, some time ago - I've never regarded the company's comments about lithium as particularly hypey - as said, I'm not up or down about it, mood wise.
The logic of your earlier comment works in the narrow sense but not when bearing in mind the company is choosing to concentrate on the more favorable commodity of the moment - that is what the purchase of equipment and organisation of staff will be focused on. As a small outfit they need to be focused on how many active hats they can wear at any one time; although paraphrasing - am not just surmising from imagination - relates to comments in a Stockbox interview.
There is no point trying to find specific mathematical evidencecto satisfy your appetite if it sacrifices something that might be transformative elsewhere. I think the companies priorities if met with success, will be a more natural remedy to the mood music - than lithium and could be better timing for growth.
One thing I must say about sweet George over at PREM, is that he does bring regular updates, averaging between 3 and 4 a month, to support his SP even with 27b in issue, I bet he is not been told what to do or say by the regulators or NOMAD, with dodgy REACH jumbled up RNS so we don't get a rise, GEORGE have been pumping the same ZULU update for the last 10 years and never fail to get a rise for his shareholders
WELL DONE GEORGE,
please can we borrow your NOMAD
Even a small team should be able to juggle a small scale export to keep the cash flowing.
RRR have boasted they have already proven the concept of exports and therefore would not be chartering new territory - pardon the pun.
The only thing they never did was put the cargo in the container at load port which I know is child's play. Once in containers they can forget about it for another c. 3 weeks while en-route to China.
Cash would then likely arrive just as the last c.£200k is running dry which would support the potential transformative business elsewhere. It must take just as much energy continually organising fund raises via dilution so would be good to see the company take a new approach.
They have a consultant on the books in DL with years of experience - what is his role in all of this? Surely someone can spend a few hours drafting up a sale and export to help keep the company going for another couple of months without another round of dilution. If they can't then maybe this is more of a tin pot outfit than I thought.
If they can't multitask then I assume the DRC is dead duck for now too...How busy is Barry in the DRC?
Would be good to heat test all reading if any willing to share...
Do you have confidence in RRR still?
Are you averaging down regularly if invested?
Would be nice to hear others strategy / exit / entry points?
Average price and time holding if not too personal
I see no point in even contemplating buying in until something substantial happens, ie Bell is replaced with a higher IQ CEO/CEO with a moral compass, DRC cash is actually received, something subtancial is sold, a good partner is brought on board, a decent income stream starts or washplant actually arrives and starts producing decent quantities of gold.
Until then its Russian Roulette with the dilutive placings destined to continue. Imo.
Talkinto it's compulsive watching.
There is no company I have ever seen as badly run as RRR and with so many twists and turns. Keystone cops in Steptoes yard spinning plates !!