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Hi Robins
I was picking up on Helpfuls post.
I think the licence is the land and the permit permission to operate and export. Part of the permit is putting 10% into local ownership.
There is also a Reuters article suggesting in Feb 24 the Junta suspended the issue of export permits to small scale artisinal miners. Let's hope nothing serious but Helpfuls post implied we were waiting on something. Time will tell.
Nike 45m of 81m went to three directors. So 55% ish.
The terms were pretty good o.o15p.
No problem with workers but Directors ?
I
Maidit
Helpful is implying but not actually saying RRR don't have a permit.
Sorry to burst your bubble but that's bad news not good as it means production is a while away.
Maidit the board paid 0.015p as they got three free shares for every paid one. Bit of a no brainer the only loser is shareholders.
Glad it makes sense to you :)
Spec
That's very harsh!
On 15th November 2023 we had a proper RNS which was entitled. Lithium Update Exports.
The first truck had left for Beira
Andrew said " we are now begining to export Lithium from Zimbabwe and expect this to be a growing part of the company business"
Not long after Helpful started moaning the NOMAD would sign nothing off and we had the pivot to Reach.
A cynic might say the Nomad and Investers had been fooled ! Personally I would rather they sold off the 200 tonnes at a loss rather than issue more shares.
We are well overdue an update on the mercurial 200 tonnes but doubt we will get one.
West African Resources have operated in FASO for decades . So probably a renewal.
Sounds like a bit more than paperwork now Helpful - rather than customs duties VAT and that good stuff as you referred to it.
I'm assuming from your post RRR have not got a permit and that's why your prediction of production last week or this is awry.
Even by your standards the backsliding is extraordinary.
Maidit might have a long wait !!
Help
GALP have proven resouce Bank of America advising and a tag of $2bn.
Elephant is a srubby bit of land no proven resource that we have failed to list on the American IPO market for three years for buttons.
Any link is incidental to the word Namibia.
It reminds me of the boy that cried wolf.
You can only spin a tale of good news and riches so many times and fail.
To be fair the Company has not overblown FASO that's all on Helpful.
- production starting this week $260k a month to RRR
- 5,000 ounces net to RRR soon.
1,100 tonnes per hour throughput.
- $550 per once cost which he has revised down to $300-400.
These numbers are so ridiculous only a fool would beleive them.
Dukey everyone is waiting for the next news.
I think patience has been badly tested and most want out (including the placees)
Even if the news is superb there will.be trust issues [Reach etc Lithium stories ] and I think this will struggle to hold any rise.
It's as if the 200 tonnes never existed :) Helpful and RRR owe shareholders an explanation. Perhaps its been stolen ?
He's here at the crack of dawn ramping and all he draws is outrage and ridicule.
If Mr Bell or anyone from the company is reading just gag him and the noise / ridicule will dissapear.
Pumping early this morning Help
Usual thing about Artisnals / illegals ; they know what they are doing.
We can agree. Unfortunately Mr Bell and RRR don't
Nike point excellently made.
I know it won't resonate with many but I would be delighted for everyone on here if my accountants nose (which I am ridiculed or dis beleived by some on here) is proved completely wrong and RRR SP flys on suburb news.
Yes however Robins someone lent us at least 600k.
We had not a lot in the bank at 31st Dec 23 and managed to.limp through to the share raise at 0.51p in mid April 24. No incomes sources. Who paid the bills in Quarter 1 ?
So that could be Lenigas ?
Debt now over £4m and whoever lent the Q1 money has not secured it on any RRR assets. No charge for RRR or any subsidiaries lodged at CH.
On the face of it excellent news but that story may have longer to run :)
All IMO and DYOR.
A signal Robins ?
Don't get where the next hyperbole comes from
- 200 tonnes and Lithium was just hyperbole. Nothing to see there.
- FASO is clearly slowing and pushed too hard
- DRC just seems stuck.
- Australia stuck until POW deal moves forward.
They desperately need credible news to let the placing guys escape ( not least for them to participate in the next one)
Wheres the news coming from ?
You might be right Kenya ?
Like me Robins you have been here five years plus and I'm just not seeing anything to take RRR out of this downward spiral.
Even Lundy seems subdued.
He posts on COPL.
That share is suspended amongst some seriously suspect company actions. Everyone is hoping mad. Action groups being set up. Investors lost their life savings but one poster Maidit308 offers a view he is hopeful they will get their money back !!
At best he's Wilkins McCawber [ for those who know the Broadstairs king Dickens] the eternal optimist or he's many shillings short of a full pound.
With Maidit as RRR
cheerleader What can possibly go wrong.
I know he's harmless [unlike Helpful ] but as a people watcher it's fascinating.
For long term posters H50 can be found on ORR moaning about conspiracies and shorters.
Strange how individuals fit a mould !
The French have just been expelled from FASO this week final diplomats gone. No British presence ( use embassy in Accra) plus foreign office don't travel advice. 100 Wagner troops in place 200 more to come.
Heatwave in Sahal and 40% of territory under Jihadest control.
The risks are huge and staying safe as Maidit suggests may be very difficult.
Whatever spin Lundy puts on it this is not an easy place to do business and a distinct possibility timescales will drift into 2025.
This company needs one of those cash defining events - DRC / 200 tonnes ( my favourite) / asset sale / elephant / board forgo salary urgently.
Sentiment is so bad and the record so poor I'm not even convinced the next pump cycle to get placing shares away will attract the herd. RRR and its track record are too well known.
IMO only and DYOR.
Maid it needs professional help.
He proposes share buy backs instead of consolidation.
He misses the fundamental point since 2008 RRR has had 180 share issues and returned nothing by way of a share buy back or dividend or capital appreciation to shareholders.
Seriously is this poster real.
Yes Helpful.
Juno has been on the stocksc15 years plus.
Any RRR royalties will be outside of posters lifetime.
Near term interests are more critical to current posters.
- 200 tonnes. Does it exist or has that been stolen like the mine in DRC ?
- DRC arbitration communication dead as a dodo recently. Any progress ?
- Faso you said production last week or this and $230k per month cash flow. That covers admin but a start. Whatscthe latest timeline ? June August ?
These are all here and now issues. Any update ?
Helpful
NTOG is not relevant. This is about RRR.
You have misled people for a longbtime by your postings and we sit at record lows.
Only you make money as you partake in discounted placings and then sell out on a ramp you are party to.
Your job is to ramp it then offload.
It's absolutely disgraceful and disgusting.
To cheat so obviously and be proud about it is obscene.