Member Info for Banburyboy

Https://www.lse.co.uk/rns/RRR/central-and-west-african-assets-syfu3g9zkshfppl.html

Nike I think you were referring to this approach by third parties.

So confounded in short you have opened your mouth and look the fool you suggest.

News / Nike and Helpful dominate this board. I match them on posts but FUDs are a distinct minority in quantity of posts.

In terms of poster counts over 20 Fudders but most are infrequent.

We all look foolish sometimes including me so nothing lost.

16th August we announce part 2 of the consideration is delayed [ we don't have the cash].

23rd August we announce we have had an offer for RRAL.

The logic and sane approach would be to aquire the asset in full before engaging in a sale.

It has distressed sale, low ball opportunist approach written all over it.

The clue is in the recent we have no cash RNSs where we are funding interest.

Confounded News Helpful and Nike have posted more collectively over the last three months than all of what you described as FUDs combined.

As ever I was right on RRR. An Accountants eye :)

Should read RRAL on a cheeky distressed bid.

Thanks Orslega - it looks like you got in really recently so for you yes the risk reward may look appealing.

However for twenty years this has been a car crash and my strong advice is don't count your chickens.

I'm not convinced CLNs rank pari pasu above the other loans which are sizable the company has. If that's the case rollover interest is not attractive. Cash is not an option therefore default is shares.

I take November 24 extension as they have had enough and want there money back. You will be taking it as a cash defining event.

FASO is clearly too late. DRC would you really have confidence in that ? Which leaves an unproven RRR on what looks like a cheeky distressed bid.

Time will tell but this is RRR.

My bet is more uses of shares to pay down debt and closing in on 7bn by year end.

That won't do a newbie like you much good.

This is really important.

The company is clearly "distressed" the 20k issue on 16th August turned the the warnings signs red.

The CLN where 93% of holders chose to not to roll over interest but take shares , either showed huge confidence or real concern on payment. The fact we could not pay in cash is to me telling.

Outside chance the promised finance update could utilise the 2.42bn headroom on a formal debt for equity swap !!

It will of course be recommended by the Board based on jam tomorrow DRC, Faso, RRAL.

RRR doesnt feel in a good place !!

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 4.960bn Headroom = 2.42bn

Two observations from today’s research

1 - RRR consolidation was November 2015 and was a 25 :1 reduction not 15:1. Unsurprisingly this makes its performance compared to PREM since inception - over one hundred times worse. Despite what Helpful says. Benchmarking terrible against comparable juniors.

2 - In November 15. RRR had 6.033bn shares which reduced to 241m with a 25:1 consolidation. Today we have 4.960bn shares. If we would not have had the consolidation, we would have 6.033bn + (4.960 -241) *25 = 117.975bn plus 6,033bn. A grand total of 124.008 Billion shares

As Roy Castle would say a record breaker.

Nike your in denial everybody knows Helpful said it.

Not you that said it. Not the company. But Helpful. You know the Lundy chap

You seem to have a blockage where that man is concerned and could argue the earth is flat in his defence.

Each to his own.

Dukey I stick with cruel.

Nike Your posting is verging on ridiculous.

Helpful has told us he privately owns a share of FASO.

He then posts complete lies about production dates and amounts.

Take a deep breath, go off for that cup of tea you prattle on about. Don't overthink it and consider is he cruel.

Dukey is using more colourful language but let's leave it at cruel.

Goes without saying none of us will know as Oxford says until an annoucement.

The SP seems worrying low to me and seems to factor in a greater probability of failure or a lack of appetite for risk.

Before the last annoucement there was clearly a leak and a sell off. I keep looking and watching this time round and there is nothing obvious.

Onwards and upwards and good luck all SHs.

One question is the flare still burning ? Anyone know ?

Speculative - RRR does this to a lot of Investors absolute comedy gold month in month out.

Given Helpful has told us [ i think Zumore posted ] he is a SH in FASO his postings about production in April June and July and all the ridiculous numbers are really cruel.

What type of poster does that ?

News and Nike just don't get what Helpful is.

Staggeringly the share count has gone from 4m to 5m just from paying interest on loans / CLNs

It's just not sustainable.

Writing has been on the wall for a long time.

Agreed two sides of the same coin. £10m is 4p on the divy. We only have circa 250m shares.

That's makes the div a chunky 15p and relatively safe. To me it supports a higher SP particularly as interest rates go down.

Good day for WIX today - possible 12 months high !!

Targa that's naughty !

A$ 2.5m = US$1.7m.

15% share of proceeds to POW = 250k

Less cost of purchase from POW $1.5m

Leaving net proceeds to RRR of nil and an impairment of NBGC in the accounts.

I'm pretty sure it is a distressed sale but anything below $A5m is really poor.

$10m and above good outcome but I fear not.

Half year results are early September.

That's where we should find more on the capital allocation strategy.

Personally I think 3p on the dive as opposed to £10m buy backs will push the SP higher.

Doesn't seem in the finest of fettle today and grumpy.

Guess he took his interest in shares like most. Will he hold or sell ?

Dogs I don't think we could contain the excitement.

On target on the other space said "If the offer was material and serious and could pay POW and clear debts we would be shouting it from the roof "

My view is financially we are in a hole [ you can't say we have not said that for months] Bell is under huge pressure and distressed and the offer is cheeky and low ball to take advantage of that.

Unless DRC and FASO are close Bell has few options.

I have suggested on here numerous times Bell forward sell the Limon royalty at a discount to avoid more dilution but that bird has flow. Share count now rounded up to 5bn it was 1.2bn when we told DRC was imminent.

I can't see this being a good place but time will tell.

Kemche at his brilliant best on the other site disecting the RNS.

RRR never disappoints- not the promised Financial and Operational update but a curve ball on NBGC and the CLNs !

Can't wait for the next installment.