Irony from Kemche7 Oct 2024 10:55
We have been held back by a lack of the expected capital, as well as dealing with accumulated liabilities"
How truly shocking!
But otherwise it's all go. Equipment from Barnsley and Scotland en-route now. Ususal slight delays but otherwise firing on all cylinders - as is the way with Ettie.
"As of today there has been no recovery by Red Rock and there is no certainty that there will be until documents are executed and released. Also, Red Rock will seek further advice on remedies that may be available through further actions, including in other jurisdictions."
Usual minor delays as is expected.
"The payment of £250,000 due under para 5(c) of the Heads of Terms as previously announced ("Terms") has not been made by Red Rock by 18 September 2024 as required, and therefore the provisions of para 6(b)(3) of the Terms apply, by which a 60 day cure period is allowed for the payment to be made, in default of which the vendor may reacquire its sold interest for $1 plus a Note for any cash consideration paid."
Usual minor delays as is expected.
"Red Rock's intention is to place equity sufficient to enable it to fulfil the payment within the cure period."
No one expected anything less.
"The Company has been engaging with brokers and listed companies in Australia to discuss possibilities for achieving a listing for the assets but has no binding commitments to report at this stage."
But no doubt there are still a number of NDAs in place because of Sunday Creek, Antimony and stuff.
"The consultant referred to in the announcement of 27th February 2024, whose brief report was announced on 29th April 2024, has been unable to provide equipment on site according to the original and revised timetables, and has continuing delays resulting principally from the length, cost and complexity of the bureaucratic procedures required for permitting the Indian workforce intended to operate the consultant's concentrators and equipment on site."
Of course.
"Red Rock has engaged lawyers to ensure the integrity of the process of licence renewal, which continues."
Good to know Ettie has lawyered up.
"Plans for an early listing have been dropped"
How shocking!
"Although there are signs of improvement in the lithium market, it is too early to recommence operations and therefore no production is expected until otherwise advised."
As long as the guards are being paid, our Lithium stock is in safe storage and the 5 Chinese buyers still ready then all is well.
"Soma Gold Corporation, the owner of the El Limon mine, has announced the intention to restart gold processing in this quarter."
As long as the intentions are there all is well.
As utterly believable as any RNS I have seen from Ettie. If not more so.
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