Member Info for Banburyboy

So Monday 16th September RNS says an update in the coming week ( not weeks as Nike reminds us).

So 7am today nothing.

So another missed deadline ? Somone must of got ill or the Nomad checks on accuracy were too zealous?

Anyone think SHs will get an update this week ?

Whats the catch ?

- 150 ounce a day very ambitious.

- costs of $300 - $500 rubbish. $900 possible but note Helpful says marginal so not necessarily linked to cash flow.

- we know FASO government and communities project own 15%, licence holder 10%, Helpful and his mates x% Riverstone y%. I think RRRs share could be down to 25%.

- No details of the MOU with Riverstone.

- No promised update on camp or equipment deliveries.

- Horrible place to do business- best mates with Iran and China and unsafe.

- Riverstone on ground hold all the aces.

My biggest worry is Helpful has gone from gung ho to throwing out not unreasonable numbers. IMO that indicates all is not well.

Let's see what update says :)

I wish I was Robins to.

Helpful incredibly subdued and that interview was absolute pants [ Bell is not the best in interviews but that takes the biscuit].

Short term financing squeeze has caught up with them, which I have been warning about for a whole. Unfortunately I feel this one will be poorer than usual.

Let's hope and pray I'm wrong.

Crew - the last view we had from Helpful in July 24 was 5,000 ounces net to RRR, and costs of $550 per ounce. He also predicted production in April 24 then June then July.

You are very wise not holding him to anything. It's rubbish.

Pretty obvious things are going badly at FASO. Still the mercurial update due in the coming week [ stated last Monday] will tell you more. Be prepared :) This is RRR

Nike - Page 5 Chairmans statement signed by Bell. CONCLUSION

" We expect to generate cash fron sales of assets and court and arbitration awards over the next few months".

Is your only point in life to pick fights with me ?

So NOT FALSE !!

Helpful we have had the suggestion of multiple approaches for years.

We are also on notice since the Annual Report 2023 of an asset sale to stop dilution.

Nothings happening despite gold price rising because our assets pari passu to others are not very good.

I've been telling you this since $2,000 dollar gold and have been right. Sadly the fundamentals of our gold assets and gold price are not aligned. If we produced from FASO that may change.

You say you independently own a stake of FASO with mates. You said in June production would happen then repeated it in July. You have been quiet since so doesn't omen well for FASO. Interesting to see what happens :)

Lots of ifs, maybes and conjecture in those posts Nike. When others do that you give it the indignant "large".

Only just picked up on Helpfuls point about different partner. The reference makes sense at one level but I do wonder if it implies all is not well between Riverstone Sam and RRR.l in FASO ?

It was pointed out numerous times the lack of even a rudimentary agreement between the two parties might come back to bite.

Frustrating for Riverstone as RRR get a free carry through delays . Wonder what price they have extracted from RRR and if we will find out ? Maybe why a news blackout after all the Helpful hyperbole re production in June !!! My opinion only and DYOR.

And he mentioned the Nomads in the interview - so all bases covered. It's NOMAD fault the company can't say anything :)

On Lithium and the mercurial 200 tonnes [ wonder where that is] they used commercial in confidence to set the scene for non communication. Its never been seen since.

Can't work out if RRR watching is an art or a science but absorbing.

16th August RRR said in an RNS.

It had reset the POW payment to 13th September and “we intend to report an operational and financial update in the coming days”.

Deadline for POW payment is a week past and remember they already got a month’s extension.

Coming days !! Five weeks has elapsed.

16th September RNS

RRR “will provide an update across the spectrum of activity in the coming weeks”.

You must give them credit for realising days was a bit of a stetch so good we have replaced it with weeks in the latest RNS.

This is RRR different currency to anywhere else :

imminent = years.

Days = weeks.

Weeks = Month

Tough to get to grips with at first but once you’ve been here a while it gets easier.

Dicko - the point is as gold prices rise assets which were close to the stop /go NPV hurdle rate come into play. Agreed They attract the money.

Kenya is nowhere close on stop go IMO and has implementation issues re licence.

Balance is important RRAL and FASO are more attractive than Kenya but we need to beleive Bells words on progress. When it comes to Bell I'm skeptical and you never mention it but the ecent interview was appalling.

Hes Arthur Daly without the charisma and personality in my view

To add Kenyas been for sale for 15 years plus.

Zumore knows more but I recollect the licence has expired and we owe Migori $1m.

Pari Pasu gold assets in other places ( in a time of rising prices) RRR Kenya it is comparatively unattractive.

On a positive note the one saleable asset we have in the Soma Royalty of $3m. As its due to kick in fairly soon.

I'm sure the company has tried this as it's relatively easy but for what ever reason the operator is not interested.

Desperate times IMO.

Dicko

We were promised an asset disposal since the annual accounts [ late Dec 23] . Ignoring RRAL no interest In Nov 23 RNS they said they had interest in IC licences. We found out recently that interest 10k for consultancy advice that's AB salary for a month. WoW.

Ain't going to happen IMO.

You will be hugely unwhelmed by the next RNS. I think the interview was the give away.

Notional value 0.01p so 40k authority = 400m shares etc.

Correct typo I refreshed issued and meant to put 5bn and accidentally put 4bn.

Conclusion the same 2.4bn shares authority so need for AGM or EGM for major raise.

Share Authority

A lot of have guessed on this and its not a figure that is routinely updated and published.

Going back to November 2015 we had the consolidation of 25:1 and 6.033bn shares became 241m.

At companies house the authorised share capital was 750m shares

Since then, the following authorities have been granted at AGMs.

30th Dec 16 - 50k

22nd Dec 17 -50k

19th Dec 2018 - 40k

29th Jan 20 - 40k

12 Feb 21 - 40k

19th March 21 - 20k

31st March 22 - 20k

15th August 22 - 20k

8th Dec 22 - 25k

10th Feb 23- 50k

15th June 23 58.648k

17th Nov 23 - 100k

16th Feb - 24 - 150k

Grand total as at now 7.38bn - issued 4.00bn Headroom = 2.38bn

Orslega

The headroom is a whopping 2.4 bn shares.

I worked it out through all the AGM approvals from the consolidation in 2015.

Helpful actually agreed it.

Happy to post the workings but plenty of headroom.

DYOR

I have twenty years of experience like Dukey and share his opinions.

Mikey the DRC was allways low risk as the facts are on the RRRs side. In fact they won the judgement. Getting redress through the DRC court system is almost impossible , and a completely different issue.

Do your research Bell is stating the blindingly obvious to keep the plates spinning.

There will be a new generation of Mikeys this time next year [ if RRR is around] talking about DRC.

Hope I'm wrong for long suffering holders.

Orslega - I doubt this time tommorrow if we follow form. It will be cringe worthy as ever. Helpfuls silence and that awful interview are the clues.

Good luck though long suffering SHs deserve it.

Dicko - Lithium you will know we have 200 tonnes of Lithium where we sent our first truck across the border in November 23. Big funfair first exports.

It's been missing in action ever since.

You don't need to work overtime on this company its got more holes than a kitchen seive