Member Info for Banburyboy

Mikey - you are one of a long line of posters who have had their head turned.

It will soon pass.

Let's see what happen next week :)

Drilling we had six months of News an uber positive ramper who only left recently. He made me look a minor poster :).

Mikey you miss the point.

DRC has been around for three years 20 months ago Bell said it was imminent !! You were not around and sorry you IMO will be dissapointed.

They don't have the cash to do anything, they promised asset sales ( no one interested).

Without DRC Bell has run out of road.

1 bn shares buys us 300k. That's all.

Debtors want repaying - curtains.

The reward is all ifs buts maybes and conjecture. The risk is real and now. Hence the SP. Its called weighted risk analysis.

Last accounts were 31st Dec 23.

Assets- cash 82k.

Trade creditors - 2551k

Debt - 2771k.

[ receivables all on Soma but long dated]

31st Dec 23 debt - £5.204m.

Cash burn from half year report 1.273m

9 months to 30th September = circa 2m

Payments and debt to POW - 750k

Less fund raise 11th April 260k.

Minimum debt at 30 /09/24 around 7.75m.

This is conservative as cash flow assumption has no investing activity.

Company cash strapped, borrowing money from major shareholders. Debt equity swap/ default not impossible.

High reward / risk investment ?

Risk is plain to see. Reward needs DRC. Will Bell deliver ?

Mikey to add around this time last year the same AB was spinning a yarn and this is unbelievable but true about an RRR lithium task force meeting 5 Chinese buyers in Dubai and Helpful was telling us all ALR was worth 100's of millions.

Look at all the FASO nonsense.

Unfortunately a huge trust issue here and were there any real progress in DRC the SP would be higher as mates in the know were let in IMO.

I know you don't like the negatively but there is a very strong past case of evidence to support it.

Mikey we have been here for three years.

Bell has said this is over the line countless times. He has visited DRC many times. Listening to the interview as others have posted this looks less the arbitration more other opportunities and presidency could mean anything ?

For me timing is everything and the timing here is just to get some traction to increase the SP for a placing.

As I said if he gets £4m or over or if the share price is over 0.12p. I'm off.

So IMO the meeting is happening but of limited relevance and spun for a reason.

We will find out soon.

Lovely post and the irony will go over the heads of the beleivers.

DRC meeting is just clap trap IMO to boost SP for placing.

Being objective I thought Elephant this morning sounded the most interesting of the spinning plates. But a longvterm one.

No other company on AIM or in the world like RRR.

So nothing was happening in six months of FASO and the only feedback we had was re two sick personal. Classic Bell. Mike Billings now on the case :)

From the SP Helpful know one is buying the hype. You must try harder.

Bet you have sold your CLN interest shares ?

Tell posters on here one thing and do the opposite for personal gain :)

Orslega

I concur your 6.58 find is interesting. Bit sloppy RRR website make no mention of the Namibia [ which Helpful raves about] aasers, and these new assets accepting they are new.

I don't mean this derogatory but Tullow / Cairn divested themselves for quiet a few bucks. Presumably the assets no one would buy were "gifted" to Elephant ?

Not knocking it but they will be more uncertain unproved than other assets and will need deep pockets.

Helpful did say [ and remember he owns 8%] that it was in his opinion it was RRRs best asset.

He's now quiet. How ironic if it our best asset he's quite on that and bullish on all the other stuff that's struggled.

I do like you, and I think you realise I am one of many that has a "hurtful" experience here.

Your biggest issue is they can stay afloat medium term to pursue these assets. Bell does need DRC this year if not a lot of dilution awaits.

Helpful owns more of EO than RRR.

If anyone was informed it would be him.

Oil drilling is an expensive business with no guarantees can't see value myself but could be wrong.

Just dont see that level of value. Bell would have sold it.

Orslega sorry point taken

Just popped by.

Alnwick Bat and Rogue. !

You three deserve a long service award for displaying resilience par excellence.

When this thing moves it really moves. Did it not hit nearly £4 ?

I sort of listened to the interview. I liked the bit where the profit from commisions was going to be more than we earn now ? The unwinding sounded pretty ominous re the £80m. Didn't quite understand it but seemed to suggest it might not reduce debt but sounded complicated.

My mums ISA is up 24%. I'm on the sidelines !

I don't like he lives in a fantasy land.

Also the fact the auditors place no reliance on his representations as they are never right, could equally apply to his interviews and RNSs.

I,m stunned some on here buy it.

Spec - agreed.

I just don't it list that he lives in fantasy land. Elephant and Asset sales.

Despite the price of gold Hapless reminds off almost daily no one wants our assets.

A Jaye my apologies there is a limit S551 CA but it's five years unless otherwise stated.

Chance would be a fine thing RRR apply for and not issuing shares after 5 years.

4.9bn headroom it is !!

A Jaye none other than Helpful said I was correct !

100% confident they have authority for 4.9bn.

The authority lasts indefinitely.

Logically no DRC by year end [ different views] they need that and more.

Looks like you had my post removed Nike ?

You remind me of the boy who had his finger in the Dyke in the fairytale. Chasing a lost cause.

Bell says we need a plan B and C for the auditors !!

That's why he needs 2.5bn share authority.

Completely ignores the fact he allready has 2.4bn authority !!.

Last year end he told Littlejohns we would sell an asset and float Elephant. None of it happened.

He needs DRC desperately and that interview indicated to me it was not close.

Accounts deadline is 31st December. If he has no DRC by then I wonder if for the third year in a row he will peddle DRC / asset sale / Elephant to the auditors. Its desperate.

A year ago I said I would not post again evet if this hit 0.2p again.

I will revise that down to 0.12p.

Also if they receive more than $4m from DRC before they issue 1.5bn shares I will never post again [ validated money not lost in Cyprus]

Sadly I fear you are stuck with me for a long time.

Interestingly RRR followers will recollect with great fanfare Bell told us Riverstone Sam had great expertise in Africa and was funding FASO. RRR outlay no more than 200k. Its now from the interview Sam leasing the equipment and all to expensive for RRR.

Nike is a fool the story changes relentlessly.

With Mike we have to buy the equipment.

God knows what short term debt is and how indebted we are to Bothero who is likely stumping up the cash.

Nike we would expect no less than you defending the undefendable.

For once no conflation or word salad.

Mikey it's nonsense sorry. Been here since Greenland 2010.

It never changes as others will tell you.

Mega dilution first

Good luck though.