Member Info for Banburyboy

Saxman - my expectations are lower but I remain hopeful.

I think if it hits 6p I would top slice half my investment [ average just below 3].

- Willaston is for the future. ZPHRs earn in does not kick in until a defined level of production. Yes it's a free carry but scant detail and years in the future.

- Paradox for me it's about the $7.5m invester. We know Colins view what is there's ? Are they dissapointed with 800k -1.2mbopd ? Mostly liquid ? We honestly don't know and it's a hard slog without their buy in.

- December accounts. We know from an earlier RNS revenue is about 3% down in 2024 [ increased production/ hedges offsetting commodity prices ]. I fully expect debt to be paid down as Cap ex is lower [ combination of insurance proceeds and partner fronting $7.5m. This will continue into 2025.

I don't get why these accounts go to the wire every year but I'm hoping they highlight in commentary net debt at 31st Dec 2024 lower than 31st Dec 23. And in the forward commentary May 25 net debt lower than Dec 24.

This is probably the next timetabled event as it has to published before 30th June and will prove ZPHR can pay for itself and silence the bashers on the other board.

Come on Colin you like a Thursday RNS. Let's pull a rabbit out of the bag

Just my thoughts but for this to be true the only way they could push it through at that pace is if they have lined up all the big SHs who all agree.

On governance I'm assuming if the big PIs confirmed it was a yes to 35p and were 75% of issued shares that it a done deal. With no need for formal paperwork or a vote for minnows like us ?

Anything else would takes ages.

I'm really happy with my WG holding and things are picking up but I just can't see WG Board wrapping up 35p unless the above happens.

For the record I'm skeptical and think the institutions are either sounding out rival bidders or assisting in some sort of arrangement to satisfy lenders as they see more value than 35p

Super interesting.

Rag and Robert thanks.

So the bottom line value to WG is $400m less expenses and the wages of the 500 boots on the grounds the RNS mentions.

In simple terms of course.

Despite acquiring supposedly 200 tonnes in November 23. No sign of any stock or Lithium asset or sales in ALRs accounts 31st July 24 or RRR.

Yes they fully impaired the investment in the site and licences in these accounts. But the Lithium had value probably 200k.

Sorry but there is very limited evidence in the companies books and records the 200 tonnes ever existed.

To be fair when they said the first truck ( just the one) had crossed the border to Mozambique and called that " first exports" , when it was really in transit (Nov 23) I was really suspicious.

My opinion only but with hindsight I think I was correct.

https://find-and-update.company-information.service.gov.uk/company/14231987/filing-history

To be honest, I think it went downhill from Lithium.

1.. They got unlucky with price collapse and the change of regime in Zimbabwe. But crumbs did they milk it. Task force five Chinese buyers for the inevitable raise. I have seen no evidence on the transaction to buy 200 tonnes from a third party and sell. I honestly believe they made that up. ALRs accouts indicate nothing happened.

2. FASO was utter nonsense on machinery and production. Again, look at FML accounts. He now concedes that in March 25, the kit is in customs despite promising production by Dec 24.

3. Termites 18th October RNS. Fast tracked payment according to RNS. No further announcement. I think they thought better of embellishing more nonsense.

4. RRAL - Bell knew DRC was a long shot. The cupboard was bare it was his last desperate gamble. Completely quiet.

Still fear not we are told by the man in the know despite six years of ramping " good things come to those who wait".

Let's hope at long last he gets something right.

Raghusn - appreciate your experience here.

Can you advise.

1. What's the difference between the $2.8bn contract and the $400m pass through ? I feel like I should know but don't.

2. You mention consortium as risk mitigation. Any evidence this is a consortium contract or is it just WG.?

Many thanks

BB

Robins, three years ago, Bell said the board would consider forgoing salaries if no cash was forthcoming from DRC, asset sales, and EO IPO.

Guess what ?

No cash forthcoming and no salary reductions.

Bell is as true to his word as ever.

Still, the rather pathetic board Insider says, "Good things come to those who wait," so perhaps light at the end of this very long tunnel.

Agreed two jokes !!

Go Wood go

It was Irony ICE.

Self praise is no reccomendation.

I read a lot of posts.

You talk a lot of sense but are fixated with blaming the board for everything and without evidence repeatedly suggesting Wood can go it alone.

You may indeed be right but your opinions and arguments lack balance in my view. All to often your heart rules your head. Just my opinion but hey what do I know [it's called self awareness Ice].

JO is far more convincing a poster but you are OK.

Moving on it feels like a 35p bottom / safety net / guardrail is definitely in place here.

I'm sure all posters will hope for more.

Says the man who completely missed the contract RNS an hour ago.

Ice cool you level of self awareness is zero.

No poster wears blinkers quite as tightly as you.

Helpful - I'm not suggesting violence at all. Nor have I ever.

You strike me as thick skinned enough to cope with the banter here.

If you are sensative as the root cause of shall we say "upset" to many posters on here as we think you are Insider you could hang up your boots. As I've told you many times talk to Mr Fox your solicitor [ that's also a permanent record].

He would advise you given your interests in RRR to stop posting out of an abudence of caution. Thats really is good advice.

If you insist on posting tell us what went wrong with your FASO predictions.

I'm all ears.

How he can say on 31st March 25 he will update Shareholders in April and provide nothing [by the 6th June] whilst at the same post personal messages on X non stop is breathtaking.

In a normal company the Chairman would haul the CEO over the coals.

But hey Bell is both the Chairman and CEO.

No transparency, no accountability, no communication and shockingly poor governance.

RRR is an awful company. How anyone can defend this shocks me.

Correct Pupil Dogs .

Teacher Helpful just like Investment Advisor Helpful would be shown to be a fibber.

For homework consider these two questions.

1 -the ethical and morality issues this highlights with subject matter Teacher Helpful being a clearly evidenced RRR insider ?

2. IF RRR goes bust what redress could investors who have been misled by Helpful have for remediation. ? Please use blue sky thinking. So a range from a knock on the door in Manchester by pupil Dukey to more conventional redress ?

It's amazing to think back at the ridiculous ramping Helpful did on FASO.

Production April then May the July 2024. His words.

5,000 ounces net to RRR .

$450 all in costs.

1200 tonnes per hour throughput.

Yes Stephen you said all that. You knew full well nothing was going on at all in FASO !!

If I'm sad what does that make you ?

You don't know they lose there money Davel it's called a breakpoint.

They would have secured there $7.5m in the paperwork against any future production. And ZPHR is as I say between a rock and a hard place.

I think some posters are assuming the invester is commercially wet behind the ears.

Unfortunately they call a lot of shots.

Yes it's commercial but 800k - 1.2mpod not the 2m targeted and more gas than expected

As I say invested but nervous about how our partner perceives the result.

Took you a while with that one Stephen dated 29th May.

So if we are the class you can be the teacher.

Teacher Stephen - Will Limon royalty be enough to pay RRRs 7k a day burn on finance charges ?

What month will the first Material royalty - July - September quarter be received ?

Over to you teacher Stephen.

Sorry Cruithe.

Completely disagree.

If it was a duster would they be compelled to proceed. ? They would on your terms.

Our partner would have done due diligence and as part of that would have safeguared themselves re stage 2 further financial commitments and production. By a pause reflection point.

They might decline to further participate. After all they still get their $7.5m back if ZPHR decide to go it alone. That's leaves ZPHR torn between a rock and a hard place re funding !

The answer is we don't know our partners intentions. The SP would be higher and I would be happier if we did.

Heavily invested and would love for you to be right.

I have to say Helpful very quiet.

He is front and centre of everything that goes on so is Bell in last chance saloon with the lenders ?

Next AGM debt for equity swap would be my call? That's why they have repositioned £4m of debt as CLNs.

Dukey as to your question has Helpful and his mates made money ?

Remember they all filled their boots at the Lithium nonsense. Five Chinese buyers and first exports rubbish. Pretty big spike up to 0.15p and a few spikes.

It's happened a few times but they were rumbled last year on the FASO nonsense ( no one fell for it]

So they made money trading on Lithium but it dried up on FASO.

They also get the assets Soma Royalty / 51% of NBGC etc.

Don't think they have lost too heavily.

Problem is trust. I genuinely think unless Bell has an independently verified bankers draft no one would take receiving the DRC cash in an RNS as true or at face value.

We shall see.

Careful Blissful !

Much of this board consider any active questioning as sacrilege IMO.

I would like to see ASAP the invester who has ploughed $7.5m in the hole say through the company they are committed to develop it.

Pretty innocuous and not much to ask.

Might be slightly early yet and it might not be possible until the CPR. But would in my view help the SP.

I'm definitely not as confident as I was and still think Williston whilst good is secondary to Paradox in getting the SP up.

Fair summary David.

Bell did say he was awaiting publication of the award. To add to your other points.

I think you are spot on. He's been given the runaround. At one point he was implying he had the presidents ear to expedite this. That all fell flat on the 20th Jan 2025.

I actually think 20th Jan went spectacularly wrong. Bell misread it and i think we are as far away as ever. He can hardly admit that as DRC is his only realistic spinning plate.

How far he is away from DRC is just guess work.