Member Info for Banburyboy

John Terry - shows up for the first time and knows everything.

FACT - we have been waiting for DRC for nearly three years.

FACT - the company wheel out this nonsense everything they want to get a placing away.

FACT - GM last Thursday approved 2.5bn shares to be alloted.

FACT - They allready have 2.4bn share headroom so why get more ?

FACT - huge amounts of options kick in as SP rises.

Next action will be mega dilution as the major PIs sell into the rise.

John Terry lol

Mikey many who have been here years think RRR use Reach as the Nomad has lost confidence in the veracity of their statements.

The tale of Lithium is probably why.

Bell did interviews made promises and with great fanfare announced our first exports from a 200 tonne stockpile. No income and the 200 tonnes has gone AWOL !! Never to be seen again.

FASO claimed progress over a four month period. Recent admission no progress. Huge trust issues.

Fact - Helpful is an insider.

Fact - he owns part of ALR, Elephant, FASO and RRR CLNs

In June - August he was on here day and night re FASO production in a few weeks. 5,000 ounces to RRR soon, $350 all in costs.

The reality is it was all lies but idiots on here took him at face value because he's an insider.

If you wish to make a compliant his name is Stephen Paul Lundy and he has provided us with his solicitors name and company. Just shout.

I find it appalling and distasteful that he's an insider and has list many a fortune in here yet he still posts. Horrible behaviour for a supposed financial professional.

Helpful let's hope after 7 years of calling this wrong ( more horrifically as a privileged insider) you are actual right for a change ?

Mikey this is last chance saloon and Bell is conflating IMO the DRC settlement ( remote possibility this will happen ) with a likely meeting headed up by Michael Billings re opportunities for RRR in DRC.

You are one of a long list of investers who have been sucked in by Bell.

Let's just hope you are a winner.

Personally I see just mega dilution with this as a last attempt to give the SP a boost

Major trust issues ( FASO / Lithium rubbish) and no one buys it anymore.

"The last two RNS have been cleared by the Nomad so there is a clear positive"

But the last two RNSs said nothing.

If there was anything of substance in the invite to the presidents office they would have RNS it.

Be very careful here.

But we've exported Lithium Spec :).

No proceeds from any of it like :)

Helpful you disgust me.

You've conned people for five years with this rotten company and you are now having fun at their expense.

You really are the lowest form of life.

Speculative - you need to be Sherlock Holmes to follow this.

So if 200 tonnes exists its in the books of ALR.

ALRs year end is 31st July so the 31st July 24 accounts due nine months later March 25 will show it.

ALR is 47% held by RRR so not consolidated so we have to wait until the ALR filing by 31st March 25.

However RRR have no interest in proper filing. A company called New Ballarat Gold Corporation own RRAL. The last accounts were filed in 2022 and the 2023 accounts were due over 9 months ago. So eighteen months since year end. As RRR don't want shareholders to know what we have acquired from POW for $1.5m they stick two fingers up to company law and don't publish accounts for NBGC / RRAL

No doubt a similer trick will be played with ALR and Lithium. Absolutely rotten. I would be amazed if the Lithium exists, and the company won't update.

Paul Scott does not sound much of an accountant.

The £80m is booked as an exceptional profit.

There is no profit the consideration = the goodwill.

The £80m will impact cash flow on completion.

The complication is the recognition of the commision payments these will need to be matched over the life of the policy.

Zccax - they will be material by nature so 10% on 300m is £30m.

I suspect commision will be more than 10%.

Key issue is what are costs to Saga of generating referral.

I don't think there's anything sinister they will be working through the detail.

Franco - possibly but the Pensions measures are hidden and effect future pensioners not todays ( so employers NI on pension contributions), reducing 45% and 40% tax releif and capping lump sums.

For me the big catalyst is the structure of insurance commisions. That could generate significant income and once know push SAGA into the higher tier you suggest.

AIM Helpful has told us his Solicitor is Stephen Fox at Ralli Manchester.

This was in relation to accusations that he should not post as an insider.

I know there advice to him would be to exercise abundant caution and not post. Unfortunately his ego is too big.

I'm pretty confident 200 tonnes does not exist.

As for DRC I'm confident it happened but what we don't know is are we just spinning it out to continue fund raising. I would hope Littlejohns our auditors ask him some searching questions as part of accounts sign off.

Still think proceeds will be netted off against some future DRC escapade with his new mate Mike.

Interesting.

Possibly Rogue but I think that's it.

In the accountancy textbooks goodwill is an intangable asset that doesn't have a value.

An impairment review is required based on expected future cash flows. As insurance has been battered so the impairment has grown.

This draws a line under it as it values the residual goodwill at the value of the offer [ they could gave gone higher IMO based on commusions].

At this year end all going well goodwill will be nil. Not because its written down but reclassified as assets held for sale [ a tangible].

Yes York ( not Leeds] Station here we come :)

Matt M - pretty ill informed update.

The reason the accounts were delayed was to finalise the deal the value of which would equate to carrying value of goodwill in the balance sheet.

Your source has zero knowledge of accouts and has failed to make the connection between the two RNSs IMO.

Glow - disagree this takes £147m out of debt next year and potentially £30m the year after. That's probably £10m in interest savings added to debt paid down as you suggest every year.

I think this gives the board options on cruise to get a deal on the terms they want.

Billybob the smelt rat is 20 years of risk free commisions earned by SAGA.

How much that is unknown as we don't know the commission % but with risked margins only circa £50 on the current model it would not have to be much.

The trick for SAGA is to minimise costs of referrals. I think with there world class data base they are well placed.

Think this is a good deal.

Rogue spot on.

And note that is the written down value of goodwill £206m.

Don't forget they also earn a risk free commission on sales.

Been a long time coming but excellent deal for SAGA in my opinion.

Well said Bonker.

The video was from May 24.

What is relevant is despite promises to have production in June July, kit delivered camp set up , equipment delivered by air and sea from S Africa Barnsley and Scotland and 60 Indians on the ground. We have Nothing, zero diddly squat.

Despite all the bullsh*t over the last six months he tells us the contractor [ Sam and Riverstone] are sacked and we have a new cowboy outfit whos specialism is security. They sound worse not better.

The asset may be good I would not dispute, but a blind man can see ( Nike and News accepted) its in a horrendous geo- political location and RRR does not have the skills, critical mass, expertise and financing to pull it off.

Bell likes to talk about firepower despite the fact he's been firing blanks for twenty years.

Sorry for the rant but it's what Helpful drives people to.

If we can have it now it must be a huge neartime boost to the SP and presumably it supports why the lender is prepared to take the risk.

Could be commercial in confidence to the funding negotiations until its binding.

All these educated guesses but appreciate the view of more seasoned investors.

Northern I asked an idiot question yesterday.

Is the CPR dependent on the 5,000 ft lateral or can we have it on the data we have now ?

No one answered. You seem to imply we can have it now ? Good to confirm. Many thanks