Member Info for Banburyboy

My point being Spec they should as you have said many times years back shut shop completely for DRC.

If they had the burn would be less than half, debt lower, SP higher and debtors still at arms length rather than bashing down the door.

His spinning plates are completely rubbish and the only things coming good are Soma and IDA which he's not jinxed by being involved.

So since we heard that the arbitration was successful.

£3.986m was spent on Operations [ expensed] between 1st July 2022 and 31st Dec 2024.

£823k was spent on Investments most impaired at Tin Hill.

Add say another 900k for the period from 1st January 2025.

So approaching £6m chasing DRC since it was imminent.

What has RRR achieved?

Zero / nothing 80% of the £6m was expensed and the little invested was written off.

No asset sales and the only progress is initiatives that Calamity Bell ( aka the man with the minus touch) has no involvement in SOMA and IDA which have cost nothing in the period.

Over the same period other metrics are damning.

SP July 22 0.375p today 0.0275p

SHARE COUNT 1.256bn July 22. Today 7.15bn.

For the entire period Stephen has been encouraging you all to invest and suggesting

RRR in a good place !!

In the words of the great investment advisor IMO and DYOR.

Thanks Stephen.

"All the stuff about Lithium was a waste of time and money". You fell into my trap admitting the Tin Hill nonsense at last !!!!

PS I know you meant Mason really so don't get all grumpy like normal.

PPS it's ironic anything getting done is by someone else Juno,Soma, POW doing well without the distraction of RRR.

What has RRR ever delivered on a stand alone basis. Stephen ? Sweet FA !

See my change of tune on DRC Stephen. It's called balance come on for once admit FASO is just rubbish. You to can demonstrate balance.

Anyway nice morning places to go, things to do, people to see.

Morning Stephen.

No impact on Mount Ida - on which RRR has a 1.5% royalty.

RRR would have been desperate to do a deal on the IDA royalty for years. I assume like everything else there are no takers.

To be honest Stephen a ramp here, is more believable that the FASO jackenory [ which is out of the Lithium playbook]

A tall tale - production next week, transactions or [s] , due dillingence, machinery in and out of customs, Mike Sam is barely believable.

All IMO only and DYOR.

Ps - I thought apart from the Brexit nonsense which was unnecessary, Bells statement was his best yet. If he does pull it off let's hope its easily repatriated and your friends/ clients the lenders don't sha*t ordinary SH like Robins.

Spec

The DRC update was the most promising I've seen. Still big hurdles like repatriation of the cash and the lenders with £4m of CLNs taking SHs to the cleaners, but they are for another day.

What I would, bet everything I have on is the FASO stuff is complete nonsense.

I'm assuming it's at best window dressing to try to prove more than DRC happening. Hopefully not a nefarious Lithium sequel in the making as a Plan B.

Https://www.lse.co.uk/rns/RRR/update-of-major-interests-x6vwi5066qf9fka.html.

Here's something that aged badly.

We know Mike went to FASO as he took the " child miner" photos. Unfortunate mistake which made Bell appear to clarify.

Mike services were dispensed with very quietly.

Knowing RRR as I'm guessing he told them they were p*ssing in the wind on a small scale operation from scratch in one of the most dangerous countries in the world.

Still RRR keeps the plate spinning as let's face it there's not much else to shout about.

The production in two months statement absolute stunned me.

They have no equipment and no people on the ground. Sam's Indians are long gone and nothing in terms of plant and machinery in Faso Minerals Limited Accounts.

The fabled ship sailing from South Africa in I think sailed in May 24 never arrived and who can forget the trucks from Barnsley and Scotland Bell viewed.

They have the 2.5kg spectrum gun they RNSed in Q3 last year stuck in customs now released.

It's incredible stuff and I fear another Lithium fiaso. Buy third party Lithium pass it off as there own. Replace Lithium with gold.

Based on all the ridiculous statements made about FASO for all of last year - production in 2 months won't happen IMO. Its the usual nonsense.

Brexit stuff absolutely unnecessary.

To be fair far more detail than he has ever given before IMO.

Two things strike me as new.

1. Can't remember him ever mentioning Kabela before. If Kabela are the other side, he should have won by now he's been out of favour for a long while.

2. First mention of supreme Court again strange. He says its strategic seems late to think about that one. Why not Supreme Court earlier.

More positive than usual and probably his best ever broadcast [ it's called balance ].

However in getting to this point, he sold out the company into £4m of CLNs and the gain will almost entirely accrue to the lenders.

To get a judgement is one thing repatriation of £ is another. That could be lengthy !!

1. Gold price doing well.

2. RRR is in a good place

3. Good things come to those who wait.

4. All of this ascribed to our very own, larger than life, inside Investment Advisor.

Orslega / Mikey / Dicko / maidit / Nike chasing losses ?

Liquid silver who has made multiples of his original investment trading :)

Good luck all.

My guess is share issue imminent. After hours tommorrow ?.

Clearly they thought they better rush out an RNS before the issue out of courtesy.

RNS shows zero progress in my opinion.

FASO production in two months and the due diligence is nonsense.

Remember they said in October and November 2024 FASO and COTE production by 31st Dec 24 and failed and never explained why.

Remember they have allready tried the FASO transaction or [s] line !!

Meaningless RNS no progress and just a courtesy to pave the way for a share issue.

Sadly RRR is all too predictable.

No can't issue at less than 0.01p.

Bell got caught out in 2016 as he set the nominal price at 0.1p thinking it would never be hit.

The irony when he did the 2016, 25 to 1 consolidation he set the nominal value at 0.01p !!

We are approaching it. There is no limit to this companies failure.

Only good news is it limits the CLN conversion £4m is outstanding to 40billion shares. Justv40 billion.

Uninvestable.

Good things come to those who wait Stephen said !! We all know what he meant.

Bless Maidit you provide a direct link into another spectacular RRR failure.

George and Prem have never had a share consolidation.

RRR had a 25 to 1 consolidation in circa 2016.

So on a comparable basis RRR has issued 7.15bn shares today. Adjust for 25.1 and that's 177bn shares.

George with just 70bn is doing well by comparison.

Whatever the metric RRR is normally a record breaker for all the wrong reasons.

The guidance is clear Y3 Y4 Y5 year z.

Goes as I say through reserves.

Just two years statements side by side

Targa a quick review of your posts through Grok says rude opinionated know all who thinks he knows better :)

All I can say Helpful is with Investment advice like that ...Only interested in opportunities and unwilling to consider risk [ debt finance charges cash burn] you have to be the worse Investment Advisor in the world !!

Remind me six years ago when you began ramping RRR it was a penny what is it now ?.

Don't tell me the Lundy approach to Investments

" good things come to those who wait":.

Come on Stephen you are a laughing stock bit like RRR.

Sorry $3m that touches the sides even less.

It's over Helpful.

You are flogging a dead horse.

Does a £3m royalty over three years touch the sides of RRR cash burn ? Answer YES or NO.

Great Post by Old and bald.

He's watched this for years [ beware the name ] but is never wrong.

In his case Stephen less is more and perhaps both you and I could learn something as we post to oftern ?.

Two defining events for RRR in 2025.

1. AGM - possibility DRC but IMO very remote. More likely a 40bn share debt equity swap.

2. Full year accounts due 31st December. The auditors will tease out all the CLNs , userous interest rates and everything else the company hides from SHs.

Until one or the other we IMO sit and wait !!

Read the standard Targa IAS 8

Heavy weather and a cure for insomnia.

Kando

I believe the requirements are covered by the accounting standard for prior year adjustments.

The historic accounts won't be re published.

What happens is all in the 2024 accounts and includes.

1. 2024 SOFP and P&L accounts.

2. Restated 2023 comparatives reflecting new information. Laid alongside 2024 figures both on a comparable basis.

3. Clear statement reconciling published 2023 accounts to restated 2023 comparatives at point 2.

4. Any adjustments relating to 31st Dec 22 and earlier are recorded as a prior year adjustment through reserves on the face of the 2023 and 2024 accounts.

Lots of work but all in a single annual report and accounts for 2024.