Member Info for Banburyboy

Ice cool - Cold Spy is right.

Get real £2 is fantasy.

I'm very comfortable here it's 70p to £1 with I think a high probability of happening.

You have some good posts but need to slightly adjust your settings in my opinion.

I would love you to be right but zero chance.

The good news is the headline debt at 31st December 2024 was £7.636m (trade creditors and loans). Up from £6.631m in the audit. (But not my £10m but that's for March 25 ). Its called balance Stephen. Was i wrong or is there something else !!

My worry is over a few items that could be better drawn out :

1 - arrangement fees on loans - no evidence these have been included.

2 - RRAL - running costs are about 120k a month and they have four staff. RRR have acquired 50% of this which should increase costs against the comparatives for a perfectly valid reason 100% of a new chunky subsidiary !! The note also says subsidiary admin costs have gone down (end of Note 4) from 168k in 2023 to 108k in 2024. Again indicating no RRAL in these numbers for some reason

3 - whilst it says POW are owed 644k and that's included in liabilities it difficult to see where its not in loans and the only other place is trade creditors which has remained broadly flat 2838k in June down to 2800k in December. Which i cant stack up with cash flow and its a huge number.

Confirmation of the accounting treatment here and the addition of three months would bring this close to my £10m estimate. But the next audit will inform, and purely professional skepticism from the board accounting clerk :) (just for you Stephen). One to wait and see on.

They have clearly taken the axe to project development and exploration down from 670k in comparatives to 152k in the current six months. Far too late Speculative as you have been saying for years

They needed to do this to fund finance charges which are an eye watering 804k up from 293k for the six month period.

On period end debt of £4.756m. Interest charges of 804k represents 33% blended interest rate on debt and is now costing the company 132k a month (5k a day) and rising.

Great to see some information to actually discuss on the board.

Another absolute key takeaway is how the the 644k owed to POW ties in with the 11th December 24 RNS. Tray and the other POW guys will i am sure be all over this.

A very fair point Speculative.

No need to go to the wire like this

The company gives us so little information on anything its nice to have something substantive.

The Chairman's words one take away for me ! Any equipment is still in customs. Makes an RNS in November 24 claiming production and sale in 2024 look very stupid !!

Great stuff some information to review !!

No practical reason why they can't publish and need to go to the wire they are historic numbers to 31st Dec 24 very limited disclosure and not audited.

Given the debt position I wonder whether its preferable to go into suspension on a technical default rather than announce a suspension.

Absolute conjecture on my part completely. But that's what I understand happens if nothing by 7am tommorrow. We will soon find out.

There making us holders sweat Dukey.

Lots going on behind the scenes here. We've been saying it for years but I feel Bell does really need DRC imminently.

Helpful will be in thick of the action messaging / phoning as his interest is more than most :)

Reccomended that one is held at least every year and within six months of accouting reference date.

Last AGM was 16th Feb 24

Accounting reference date 30th June.

21 days notice required between annoucement and date of meeting.

Very very late this year.

Helpful no doubt trying to contact AB re half year accounts. Can you add AGM to your discussion list please Stephen ? All IMO and DYOR.

Helpful Stephen - spelling is not my strong point I would be the first to admit.

Investment Advice is not your strong point judging by your record on RRR.

We have common ground and a weakness each.

Something to celebrate ?

Https://www.lse.co.uk/rns/RRR/lithium-update-exports-4d3l4ugo6mrue3g.html

It all started from here and from day one 18 months ago we were debating the wording - first truck , left but never arrived a RNS before that said they could not release information asit was commercial.in confidence !!

They were unlucky with a change in the regulations at Tin Hill. I think this was an aspirational fall back with endless loose ends and a lack of evidence it happened as described.

All IMO but 200 tonnes would be jolly useful for a xompany paying 0.5% per day interest.

Don't need to Dogs reasonable question.

Helpful was suggesting 200 tonnes of perfectly salable Lithium was impaired. Even though its not Exploration and Development expenditure and there is an open market. That's nonsense.

He then pivoted to its in ALRs accounts and now when I have explained the accouting policy re subsidiarys and minority interests has decided to pick up on my spelling of subsidiary !!

He's so out of his depth. I just would like to know where the 200 tonnes is on the accounts.

Helpful stick to the point old bean.

You deflect and detract. As a 10% ALR holder you know the sad story behind the 200 tonnes.

No evidence in the numbers it exists.

Bells statement in the report [ [ half year to 31st Dec 23 ] was not subject to audit. So just words.

One thing for sure he won't mention 200 Tonnes or Chinese sales in this up and coming imminent half year report as he wants it dead and buried. Fake photos and no evidence of existence in accounts. Pretty damning in my opinion but DYOR.

Suspension is a technical issue linked to the publication of the accounts and won't be until 30th April.

If you beleive Sidara will make an offer this is a great buy in price. The company is not going bust.

Typically to the wire RRR governance though Stephen ?

Do you understand the basis of group accounting for subsiduarys now ? . ALR clearly part of the RRR group ?

Of course you do but trying to detract and deflect from the issue in question where is the 200 tonnes ?

Fair point Taverham given context.

Hopefully Sidera have had a bid accepted by then.

Bodicote nice place.

Taverham - the suspension is non news no business consequences. Sorry you are wrong. IMO the rest is debatable but not that.

For me the key statement is no cash flow impacts.

In a nut shell what this is about is the company has recognised profit too quickly and before the unusual recognition date. This means past profits will be reduced in the accounts [ prior year adjustment] and retained earnings will fall.

This will reduce the enterprise value of the company.

This is all part of clearing the decks and a clean slate for the aquirer. Sidara will be the key driving force behind this embarrassing as it is to the Board.

It clearly shows Sidara are in the driving seat to me and very interested. Offer might be lower than some think but offer there will certainly be.

The suspension is a technical issue only and statement of fact re laying the accouts. They have a duty to release that.

Having considered it a few times I think this is good news and will buy on any big drops.

They went to the wire in 2023 so filing was 7am on 3rd April. [ this was a Monday first working day to avoid suspension]

So I guess they might do it again ?

Suspension is automatic if they don't publish accounts by 30th April [ four month period by law].

They are warming us up to that possibility.

Helpful you are a tad grumpy.

Not surprised you are making an absolute fool of yourself and not for the first time.

Hang up those boots or post some meaningless gold price links to cheer yourself up.

Half year accounts tommorrow. Bells words will be interesting. I'm guessing we are drawing in asset sales and NDAs , gold production next week and DRC money by Friday ? He's an optimist bless.

Oh dear oh dear - you really don't get accounts do you.

Note 1.3 explains

These consolidated financial statements combine those of the company with its subsidiaries. It then goes on to list the subsidiaries one of which drum roll is African Lithium Resouces.

The minority interest is shown separately.

RRR has fully impaired capitalised expenditure in ALR [ read Note 13].