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News two corrections
2 - Not sure what you looked at in CH filing. ALR last accounts were 31st July 23. £71,909 net liabilities.
4 - RRR Australia we await progress on the aquisition on new ballarat and the supposed IPO. Due diligence according to the proper RNS was due to be completed on 19th April. This was to confirm RRRs funding position inter alia. I'm not sure RRR has sufficient access to near term capital to proceed with this. Hence no news
But never mind bags full of money will appear in June 24 when we sell all that FASO gold that Helpful talks about. Just like he said with Lithium that went well !!!
To late but a proper strategy as Talkinto and Spec have said numerous times would be to hunker down conserve cash and await DRC.
We did not do that.
Ask yourself why. Answer because DRC is by no means certain so we chase a rainbow on FASO.
All IMO but let's see.
News
Because of Helpful Stepen Paul Lundy it is nothing more or less. The same can be said of others who posts
You know what we have against him.
As long as he posts I'm afraid the Board will be like this
News your posts are boarding on the ridiculous.
None of us have any solutions moving forward. I have said for five years this is a rag bag steptoes yard collection of assets. Our CEO has an impressive track record of failure as evidenced by the SP. He spins far too many plates and lurches from one disaster to another.
Could I do any better - No. I would not want to.
To be clear i'm not offering solutions just warnings so no more unsuspecting investers fall the nonsense that Helpful posts and the rather misguided confidence of Andrew.
The failure list is endless. I note you are quiet on Lithium 200 tones which was just IMO made up and tells you everything.
FASO has got huge geo political risks, a relationship with Sam we don't understand ( Bell said he just gives us money !!!)
They are unlikely to be producing by June. If they announce anything by June it will be shrouded in nuance not signed off by Nomad confusion on net and gross and massively unclear.
This is RRR and how they are. Sorry if you don't like it but it's the way it is.
News RRR has lost 99.5% of it value since instigation.
The median is a ten fold reduction. We have lost 200 fold. So twenty times worst than the median.
The stats don't lie and you overlook a 25 to 1 share consolidation in 2015.
Zumore myself have demonstrated that many times. Robins wishes he was only down 90% and so do many others.
You won't accept any of this so be it.
I will continue to post.and let's see
- $350 -$500 costs per ounce
- 1,100 tonnes per hour throughput
- 5,000 ounces net to RRR soon
- $3.5m net to RRR per month from June. My estimate based on RRRs figures $0.5m a month and that would be brilliant.
The sad reality with RRR is
- delays will hit FASO. June is ridiculous
- no action elsewhere.
- POW will fall through ( no bad thing) as we fail April 19th due diligence.
- further fund raises.
- CLNs due to repaid in July 24 a tipping point.
- we find out how much of FASO greenstones we have given to Sam and it won't be nice.
- no news on the ridiculous 200 tonnes of Lithium
We won't agree and we can come back to is right and wrong at the end of June.
Enjoy the sun Banbury.
-
Duke - maidit and news have made up there minds.
Just making sure no one else is fooled by his rubbish.
Objective posters make up there own mind. After all it is RRRs own base case :)
Helpfuls 61 ounces is very much a BEST case in RRRs model. It assumes maximum wash plants and 6 tonnes of throughput.
RRRs own base case has anything from worst case 11.6 ounces to best case 46.3 ounces. RRR base case not mine.
An objective invester would take the mid point 29 ounces per day.
An objective investor would then realise FASO government own 15% and highly likely Riverstone at least 35% either as their share or the compan or a royalty.
So net to RRR 14 ounces a day. There base case.
Very generous cost estimates gives a profit of $1,200 an ounce or $17k a month. Again being kind
All of a sudden Helpfuls $3.3m a month is now only $500k net to RRR.
Still excellent and will push the SP significantly higher but its a horrendous place to do business and no means guaranteed to hit June target.
I suggest anyone wanting a fair investment appraisal listens to the Board chartered accountant not the resident Del Boy.
He's hopeless not Helpful
- RRR reposted the presentation to there site in April.as well as February.
- it's a model not a forecast. He can't chose different numbers to suit his argument.
That's why MrThicko - I have chosen the best case scenario for RRR. Anything less would be materially more than 180 wash plants.
It's RRRs model not mine .
He's rowing back on 1,100 tonnes as it complete rubbish and he knows it.
Robins to be clear.
The source of needing 186 wash plants to throughput 1,100 plants is page 12 of RRRs own Biballe presentation.
Best case 6 tonnes per hour per wash plant ( base 4 tonnes).
He will run away from this just as he runs away from the 200 tonnes of Lithium not existing as he's been rumbled. It's to easy ;)
1,100 tonnes per hour throughput.
2 grammes per tonne extracted.
2,200 grammes of gold @ 28 grammes to an ounce 78 ounces of gold per hour.
At ridiculous Helpful cost of $350 to 500 per ounce. He uses his GCSE economics to tell us it all about Marginal cost.
So those figures would result in RRR being in the world's top ten gold miners in terms of gold sales / production and the most profitable in the world by a margin of three fold.
He has recklessly thrown one isolated fact out to posters in a pathetic attempt to lure the unsuspecting into this sham of a company.
The SP is still going down for a reason. FASO is hyperbole and chances of success are remote.
Even if it is successful he would have sold a fair proportion of Greenstones [ the FASO company] to Riverstones for them stumping up the seed finance.
It's a final throw of the dice as there are £4m plus of debts on RRR balance sheet and DRC and Tin Hill have failed so they need a quick result.
It might cone good and save our bacon but not at the numbers Helpful quotes.
The SP is reflective of all these facts.
What's sad is he's a financial advisor. The rest you know.
So News YES / NO to 1,100 tonnes an hour. Resounding No.
A proper financial advisor would lay it out in layman's terms.
The pub has space to fit 1,200 drinkers FACT.
But they can't drink 1,200 pints because
We have a slow pipe ( the wash plant )and one barmaid can only serve 6 pints an hour.
We could employ 180 barmaids but imagine all the capacity constraints and costs . Its a nonsense.
Our resident cheat picks on on unrelated fact machine theoretical capacity and misleads people into thinking that has a direct link through to production. He deliberately chooses to ignore all other assumptions . Ask yourself why ? Because its his job to mislead
If Helpfull and his mates and all those close to this questionably run company believed all this superlative tosh they would be buying in spades.
They are not no one is buying and it's why we have sales of 0.047p.
Helpful is here to get his placing shares away for the next rinse and repeat.
Thankfully no one buys it anymore
More scumbag misleading by the resident insider who has the audacity to challenge others intellect.
Throughput is a function of many factors not least washing the alluvial. Helpful misleads us all by talking of 1,100 tones throughput per hour.
Page 12 of RRRs April 24 Bibelle presentation has the COMPANIES OWN sensitivity analysis.
The upper extreme of throughput is determined by washplant capacity and in RRRs most recent presentation is no more than 6 tonnes per hour for ten hours per wash plant.
To achieve 1,100 per hour as our resident con man is suggesting we would need ( do the maths as he would say) 182 wash plants. One hundred and eighty two.
These are not my figures but RRRs.
Common sense and any degree of intelligence says he's wrong and as ever misleading people.
End to end throughput of 1,100 tonnes per hour is what billion dollar companies do and RRR is not one of them.
AiM the man is absolute shister no ifs no buts.
He would be quite surprised at how well educated some of his detractors are. They don't need to boast about it and have a moral compass.
Nike he's conflicted and has a moral and ethical duty not to post at all.
We're his name News or Maidit no one would give a fig.
I can't see any mitigation. Best we agree to disagree. I've spend 20 years as a NED albeit in the public sector but this one is cut and dried IMO.
Enjoy your weekend.
Nike
Helpful has the following form
1 1 -5million tonnes from Tin Hill.
2 - costs of FASO $350 -$500 per ounce
3 - throughput 1,100 tonnes per hour
4 - FASO production mid April this week or next.
Sorry these are not mishaps but a continued pattern of deliberate deceit.
Each to his own and yes enjoy your weekend
Nike - you are considered in your posts.
You know Helpful is an insider - buys placings, he's never lost on RRR shares, owns CLNs, owns 10% of ALR is in constant contact with AB.
He has posted superlatives ( not facts) for years on this company. Its declined for years and cost those who have relied on his advice a fortune.
I cannot see how any balance right minded fair person would see that as right or fair.
Are you really defending him. As Dukey says Helpful is why so many bashers are on here.
I virtually live on here as I think it's the worst ethical behaviour I've ever seen. The man is contemptible. This is an emotional post as right and wrong to an old timer like me is important.
Turner pope reference 8m cubic foot per day in Q4 and Q1.
Anybody know what that is in terms of daily revenue.
Many thanks
Due diligence ended 19th April according to heads of terms.
Condition E
" RRR confirm by close of due diligence it has access to the funding required for the settlement of amounts due on completion and on- going financing of NBGC and RRAL'
IMO only but I think this could be a real stumbling block and explain why due diligence confirmation is two weeks later.
As is oftern said far too many spinning plates
Great Post talkinto.
I normally run works families sweepstakes and like odds.
The combination of 9 and 11 - dilution and below 0.05p is I would venture the red hot favourite.
Helpful I'm sure will combine all the good news 1-6 with a share price above 0.06p.
RRR watching is compelling viewing.
Yes dukey Trust is a huge problem with RRR.
Anything they say is not really believed ( imminent, first Lithium exports, wash plant).
If they sad they received the $7m I think most would want proof after Greenland.
I'm sorry to say this but what will move the price ?