Member Info for Banburyboy

Lundy this is ridiculous Spec has called you out for lieing and embellishing on RRR. Youve done it for seven years.

The evidence is there for all to see.

Please move on

Yes Aimtrue.

Sadly poster Helpful jinxs much he touches.

Hes particularly notorious on the RRR board.

He got his shares here for 1.6p as part of the company set up. He wont lose . Be careful.

Spec - agreed the accounts were not audited.

Requirment to not net off is discosure driven . Materiality is not relevent - so note small figures on currency gain.

RRR capitalises exploration cost most of it is Kenya. Dont think this would be covered by those rules.

We will never know for sure - just thought it was interesting AI made the ssme connection as me.

Spec - the accounts are to the nearest thousand pound.

GAAP - does not allow netting off.of income against expenditure. As RRR has zero in the way of income the fee which we received would be easily identified.

Could as you say be a mistake - its been netted off or fell through and RRR never updated.

Agreed trust is very low.

I do wonder about the two other parties and what has happened here.

Spec - only RRR mentioned an exclusivity fee. They then said they choose DAL from three parties.

Key question

- why no exclusivity fee in half year accounts to 31st Dec 2025 ?

- with DAL messing RRR around - looks like other two parties have lost interest ?

As ever with RRR communication void on matters of substance like this, POW payment , selling 200 tonnes, Arbitration.

We deflect to housing and mining nonsense which are huge long shots snd wont contribute anything immediatly.

Any what do i know and no doubt our resident insider will tell us whats really happening.

Noira on the other site put the DAL deal through AI.

It made the connection i have pointed out for a while. No record of that exclusivity fee in the RRR accounts.

Has a slight whiff of 200 tonnes of Lithium about it.

This company really is in trouble. The housing factory nonsense and gifted mines which was imminent in October 25 have not progressed and Arbitration [ as i told Hapless three years ago ]is dead.

I really cant see any light in the tunnel at all.

Deservadly Mutley Nike is the figure of fun :)

Love the irony Meldew.

It will be lost on our resident insider who lives in a bubble of his own self importance.

Really breaking out

Yes the buys at that price are sells.

Really feels like we are entering a new phase of this long journey.

Helpful its easy - forget this site and move on.

Thats what the police would advise and Stephen Fox your solictor.

If SF was made aware of your inside interests he would have told you that a long time ago. But you are too arogant to take advice as you think you know everything.

Yes apparantly the priviledged few who got in at 1.6p had a drink and a laugh at the expense of those that paid full whack. You would have enjoyed that

Be careful Dukey.

His behaviour is outragous and every sinew in my body wants to meet him. He would get a shock. But the conclusion of the long game is not far away and many ways to skin a cat [ fat one]

For what its worth i find Nike incredulos - Hapless could *hag his wife, rob him and beat hin up and Nike would thank him and ask for more" Comically i have Hapless posts direct to Nike bigging up ALR as an insider.

But i would reccomend caution.

So Stephen let the penny drop its about you more than RRR. The RRR ship sailed or should i say sunk a while ago.

I will say hello on HALO.

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Trolls15 Mar 2019 11:13

The Trolls keep going on about what might or might not have happened 5, 6, 7 years ago. What matters is what is happening now and likely to happen in the future.

The reason for posting the links about Migori is to show what the carrying value was in the books at the time the legal bust up started and what a 3rd party thought that it might be worth. The carry cost was about £8.5mil and the 3rd party thought that it might be worth £8.9mil ie., not significantly out of line which each other. RRR now owns 100% and my view is that Migori is worth about £10mil once we get the license back.

The legal settlement as agreed on the basis that a new license would be issued. The old licenses could not be issued because the Mining Act 2016 in Kenya superceded all previous legislation: all extant mining licenses have had to be reissued under the Mining Act 2016.

Those licenses coming should be procedural; check out the Mining Act for further information (I think it is section 56 that applies).

Para Resources

Gold Road is up and running, it has produced its first gold dore, its target is 3,000 of gold per month and expects to be at capacity Q3 19. El Limon is up and running, it has been delayed.Consequently, tle local small producers that were going to put their output through the mill have gone elsewhere. Para is now securing alternative supplies to meet its throughput targets.

We have CAD$500k in Para shares plus warrants plus about US$3mil outstanding in a royalty on El Limon.

Elephant Oil is now live and has a value again: see the UOG announcement. If you listen to the CEO of UOG he says they will be proceeding with taking up their option in due course. That will mean that Elephant Oil can proceed with it's work programme.

JMS covers the market capitalisation of RRR

Then we have the DRC, the diamond deal in Botswana, Steelmin and the royalty on Mount Ida and Mount Mason.

All of that for circa £4mil.

PS don't forget the counter argument,,,, bbbbbbuuuttt Andrew Bell.

In due course the value will come through.

DYOR

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RE: Corporate presentation27 Feb 2019 11:19

Unfortunately there is an ex Wives Club on here that invested 6/7/8 years ago and are well down. Tragic was a big ramper of the share and RGM.

For some deep-seated psychological reason they can't accept that things have moved on and the company as it stands today is not the company it was 3 years ago or even 1 year ago.

Whether they admit it or not the company has real assets worth a multiple of the current share price. AB is out in DRC this week dealing with matters on the ground and as it says in the updated presentation he is expecting to get the license back for Migori anytime now.

Once they haver the JORC report on Muonoi AB will be able to back up what he is saying about that asset.

What are they going to say then: The JORC report is nonsense or some other reason why the Musonoi asset is worth nothing?

If the JORC report backs up say 200,000 tonnes of copper at a 1.5% cut off with grades between 3.5% and 5% will they then accept that it is a valuable asset?

There are reasons to believe that the resource might be higher than AB has been talking about. Historically in the DRC they ignored assets with low grades; anything less than 5% was regarded as a low grade. If you were to find a new asset these days with 5% grades people would think you have won the lottery. Look at the fuss over the MOD Resources copper asset in Botswana: it is very likely that the grades at Musonoi and the other licenses will be higheer than MOD

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DRC & Para10 Jan 2019 15:17

Well it looks like the DRC is sorted and the result won't be a threat to our licenses or ability to mine: it looks like the stability candidate has won.

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Boring Boy8 Apr 2024 16:40

It will be interesting to see if he quietly sidles away once RRR has the DRC settlement and cash........

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RE: Red Rock Resource and a partial ’fess, Lenigas ramps again By TOM WINNIFRITH5 Apr 2024 20:07

He did. I was copied in on the message. Willem has forgotten more about geology and gold geology in particular than Winnifroth will ever know.

Willem's view is that we do have rather a lot of gold. If we are putting wash plant on four separate sites just for the alluvial that should give you a hint.

Winnifroth talks out his bottom most of the time. He blocked me on Twitter years ago when I pointed out to him what he was saying wasn't quite true as in nowhere near the truth.

DYOR

Woof

DYOR

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RE: Gold5 Mar 2024 12:16

Dukey, the man who will stop at nothing to do AB and RRR down.

RRR is in a good place: RRR has a number of gold assets. It has the royalty on El Limon, it has the Aussie licences in a JV with POW (two of which are suitable for early production), it has the licences in CDI (two granted, four close to grant and another a bit further back), it has the licences in BF (two granted and another 4 in the pipeline), it has the licences in Kenya.

It has multiple parties subject to NDAs and it is in discussions about assets.

The lithium price is recovering nicely which will help ALR. It is close to settlement in DRC which will then lead to RRR picking up the pace at Luanshimba and Kimono. It looks like Juno is making progress on securing a partner for the magnetite. Elephant is making good progress and news should be incoming soon and the Damara Fold Belt is attracting a lot of attention in its onshore Namibian acreage.

Lack of cash is not the same as not being in a good place. All of those assets have value as will be demonstrated in due course.

RRR should have four income producing assets later in the year: Bilbale alluvial gold, El Limon mill royalty, ALR lithium sales and quite possibly the oil & gas. I also expect a couple of JVs in CDI and the start of the RRAL listing process.

So all in all things look pretty good: a few challenges but that is the way.

DYOR

Not like ALR then Helpful.?

From the posts you knew everything ALR were up to and a lot more than in the public domain ?

You also confirmed your interest and investment in ALR

Is it still your personal solicitor at Rali Stephen Fox you want any bulleton board concerns sent to ?.