Member Info for Banburyboy

Hapless - you and I had a debate.

You said in early June we would get some royalty.

I said no we would not.

You came up with a number of 29k.

It's not really important but it's illustrative of your approach to this company.

Exaggerate and big up it's successes and opportunities completely ignore the risks.

You have never called anything right in five years.

I have hit the nail on the head with RRR every time.

I think I will have some fun with Cote .

Also Helpful many remember you production in May in FASO the June then August postings last year.

We find out subsequently nothing happened in FASO. No mining at all.

You started a huge argument with me about Soma production in the June quarter.

You have called NOTHING right on this share.

I'm not convinced on COTE but we will see.

Helpful strange for balance not once have you ever ever commented on

- £10-12m debt

- 700k every half year of finance charges.

- £4m of CLNs.

- the company being controlled by major PIs

Contextually much of what you said won't touch the sides.

But hey your job is to ramp RRR. Any negative you ignore.

Spec - I have not backtracked / corrected. My original statement holds. Off there own back RRR have achieved nothing IMO. Decison making on Soma is outwith of RRR.

That was my point.

In terms of finances yes it's improving but the reality is the Royalty does not kick in until Feb 26 in large amounts and at current cash burn and finance charges we will have $1.5m more debt / spend by then [ half the total royalty] .

Cote sale let's see in 30 days.

I actually said the same thing about Lithium exports way back in Nov 23.

A sale if it happens still sounds not enough if it comes off to touch the sides.

The damage in terms of share issues and debt has been done in my opinion and only DRC is material enough to undo it.

In terms of bashing - I would like to see stronger and evidenced of progress. Not using Reach but getting Nomad accreditation would help.

Spec - you do interpret things incredibly literally which causes huge confusion.

In the same post I am saying Soma is somone else's asset and RRR will get a significant royalty in Feb 26.

95% of posters would not read this the way you have " We don't get the royalty". Of course RRR have the royalty but the production is driven by another company Soma. RRR has delivered nothing for years off its own back. They could not hit a Blue Whale from five yards in anything they do themselves IMO.

Speculative.

You've been burnt before on this share.

Soma first meaningful payment is Dec 25 quarter end due Feb 26.

Cote and Faso wait and see. You were around for all the last FASO nonsense. Indians, ships from Saffa. Production in Cote and FASO in 2024 !!

This company has not delivered off its own back anything for three years [ Soma is someone else's asset].

The form book says anything they put in an RNS never happens. Particularly a Reach RNS.

I was wrong as Dicko says about 20bn shares. I was wrong about last years accounts as you said.

I agree with Flightman based on debt / finance charges and CLN the fat lady is singing.

Only DRC can save this now IMO. Nothing else touches the sides based on debt and finance charges

I thought it was £350,000 nominal value so 3.5bn.

I still think they have headroom of 2.5bn unless it expires from previous resolutions.

Fells like CLNs / lenders in control.

Typo who the legal action is against.

Lots of talk of holders showing up.

9am start means overnight stays.

Dukey maybe we will get an update on our Lithium stockpile. Confirmation it's all there or who the legal action is again.

Or will it be no entry to the meeting except for the few and a show of hands ?

Helpful are you going ? Will you have a company pass ?

Spec - You completely miss the point.

There are no Lithium costs in the financial statements as RRR in the opinion of many DID NOT purchase the 200 tonnes it was rubbish.

Hence there are no cost to aquire 20o tonnes as its fiction

Dukey is holding Bells feet to the fire by saying prove you actually did purchase Lithium. You intervention misses the entire point.

Bell is saying its still there. He's cornered torn between a rock and a hard place.

Bottom line is I strongly believe the 200 tonnes purchase never happened IMO nor did the exports.

Speculative - sorry you don't understand this at all.

Bell under pressure has admitted RRR have 200 tonnes of Lithium concentrate. He admitted it this weekend. The value at Beira port is 20ok. That's what the Chinese would buy it for.

It's a tradable commodity. It's not me that's saying it has value its the global market. Why would Bell say he would sue if its worthless ? If Bell does not realise that value he is failing in his fiduciary duty as the Director charged with governance and safeguarding the shareholder assets.

End of I'm afraid.

I like you but you have list the plot here.

The Tin Hill licence and costs of bringing it into production were fully impaired to zero as RRR do not intend to mine Lithium. That is the mining operation.

When the law changed in Zimbabwe RRR entered a completely new business as a Lithium buyer and exporter.

The 200 tonnes is completely separate from Tin Hill the licence and production. They brought 200 tonnes on the open market. It will allways have a resale value.

Bell says it exists this weekend. Look at the Lithium price . £200k just sat there. It has value.

The Elephant in the room is does it exist ?

This is not a distraction it's about Trust and this is a classic example of why it's thin on the ground with RRR.

Spec

You are misinterpreting.

If 200 tonnes exists and that's a very mute point.

It has a value equal to the prevailing commodity price. It would never be written off.

Current realisable value is over 200k.

Unless of course it is missing or never existed :)

Dukey has Bell on the ropes. The auditors will get it. Sadly you don't.

Hapless - Warming investors up allready to the preferred bidder withdrawal or non completion ! You are so predictable.!

Also no royalty until November and they need to get a jog on for that to be much.

Did you not read the post of the investor whose £4,500 is now 37p.

That's why Bell is known as Calamity or the man with the minus touch.

3.5bn shares authority. £350,000 notional value.

Pretty sure the lenders who are majority SHs will push this through .

Do we know the resolutions yet ?

The obvious one being share issue ?

Has posted on the other site.

He says ;" I pop in occasionally for a laugh. I invested £4,500 here it's now worth 37p. Don't understand how the same people can be in charge" !!

I seem to remember the SP went to 50p on a really small share count in circa 2006 maybe.

Bell issued billions and it got close to the then nominal value of 0.1p by 2015.

To avoid that in 2015 they did a 25. 1 consolidation leaving 140m shares.

The nominal value was set at 0.01p [ so another consolidation was not needed[.

Today we have 7.25billion share. £4m in CLNs and an SP of 0.025p. Too close to call to the nominal value with the CLNs hanging.

That's the story of how £4,500 became 37p.

We've done the maths lots of times and Bell / Hapless use PREM as a benchmark.

Still shocking but PREM has lost less and seems to have more momentum. today.

I would never reccomend PREM. Just calling out management and a certain insider in denial !!

Not only did he tell us BUMIGEB were on site dogs.

But with a contract !

"I know Dogs as I'm an Insider"!!!!.

Also Specs point on royalty provision on Soma agreement.

Still PREM going well and talk there of Lithium prices going through the roof. The irony !!

Very quiet on DRC don't you think !!

Speculative.

The key fundamental principle of accounting is no netting off in relation to asset types.

The licence and associated expenses which were capitalised were in the impairment. At the lower of cost and net realisable value [nrv] The licence and associated investments had nil nrv at the time of the impairment so were fully written down.

The Lithium purchased from a third party is a wholly different assets type - goods held for resale. It allways had value as there is an active trading market. We may have sold it at a loss but it would have allways had value. A minimum of £150k by my calculations more now.

What you cannot do is net these two separate asset write downs off.

If it was that easy Bell would have taken your line form day one . Its impaired or written off.

He has not as it simply not true for the reasons above.

He's torn between a rock and a hard place . He doesn't want to say it didn't exist for obvious reasons so he's glibly saying he will check the inventory.

This is a very big deal IMO. It was a red flag for Charles Archer in his article.

As Bell has now said its in the Inventory I guess we could flag it up to the auditors [ Littlejohns] to ensure its clearly labelled in the accounts. If it is I will back down and apologise.

Sorry but you are not right here.

The Lithium is about trust Spec.

Join the dots.

Lithium in the past but do you beleive the last RNS ? I think it's the normal hyperbole ?

A month to find out.

I just wish one day this company would deliver something ? Anything !! And I could say I was wrong and wind my neck in.