Member Info for Banburyboy

Https://www.lse.co.uk/rns/RRR/licences-obtained-at-bilbale-and-boulon-9vil2bnurpmn1uw.html

RRR licences were acquired Jan 2022. See RNS.

It does seem the vendor retains a 20% interest on production plus FASO government 20% plus Sam and Riverstone for funding x%.

The company have kept the terms of the FASO agreement hidden from SHs.

Based on this its not unreasonable to expect RRRs share to be just 30%.

Clear communications from the company would clear this up but don't hold your breath :)

Nike - you routinely conflate different issues. So I'm not talking to you on this one so no need to be involved.

For others.

Helpful threatened to upset me more than I've ever been upset before [ despite what Nike says]. He also posted to me "Peter and his two mates will get nothing Mbele"

Either he's playing silly buggers we'll possible or he is mistakingly identifying me as a freind of Peter [ I'm not] who is clearly got some claim on RRR.

We all know he's an insider and this is yet more evidence. The unnamed Peter has no connection to me but has clearly riled RRR. Helpful using the word Mbele oftern implies a Congo connection.

Possibly Peter and his mates have inserted themselves in the DRC process ?

If they have Bell is in DRC fighting ownership as opposed to collecting the money as Liquid Silver thinks.

Littlejohns London - are NBGC auditors.

I doubt there is a problem merely RRR does not want to file. I wonder why ?

How's Bell getting on in DRC with Peter and his two mates ? Issue with ownership of our DRC claim ? Oh dear

Yes Dogs - New Ballarat accounts approaching six months late.

Only Bell and RRR could buy a company and then deprive shareholders of what is a legal requirement that is file the September 23 on time so we can see what we have brought :)

FFS Nike -its like spoon feeding a baby. 19.13 post yesterday. Peter

I exaggerate - look at Helpfuls comments on FASO raised by AIM just now. Production Aprl June July 5,000 ounces etc etc.

Enjoy your brunch don't let it choke you :)

You are clearly his mate. Goodbye

Nike your defence of the undefendable is waring thin. Helpful is a bully and insults everyone daily you never criticise him. Ever.

Please refer to Helpfuls post 17.44 16th July.

The exact words were.

" He is on filter and can stay on filter till I am ready to tell him something that will really upset him so much so that he is uncapable of understanding how upset he can be "

I then am told Peter and his two mates are going to get nothing at all Mbele.

Mistaken identity I'm afraid.

But he clearly thinks I'm something to do with DRC and the negotiations and has demonstrated by these posts yet again if there was any doubt he's a privileged insider.

That's pretty clear to most posters except you Nike.

So Helpful - a month ago you said you knew who I was and I was in for a very unpleasant surprise.

Now you are telling me Peter and his two mates going to get nothing ?

A case of mistaken identity I'm afraid. I have not a clue what you mean.

Of more interest Helpful who is Peter and his two mates ? Sounds like somone is inserting themselves into the DRC claim ?

Perhaps that's why Bell is there? Clearly progress is stalled as a dispute on who the recipient of the DRC damages is taking place ? So no settlement on DRC soon ? Years more to wait ?

You are not only a clear insider but a prize chump. Bell won't be happy that's out in the open and the only one to blame is you Helpful. Oh dear.

Unless of course you clarify who are Peter and his mates ?

Let's see Nike :)

Https://www.macaubusiness.com/burkina-faso-repression-silences-population/

Foreign office don't travel advice.

We really should not be sending ex pats here. Perhaps that's why no progress !

Zumore his biggest stake is in Elephant. With all his investment expertise he's had four failed attempts at an IPO. ! Stephen Paul Lundy dishes it out all too oftern but should reflect on his poor decision making. 97% down what s mug.

Correct zumore - they are mediocre prospects and no one is interested in either a JV or an outright sale. That's why RRR share price does not respond to gold price its irrelevant.

I still think silence is crunch meetings on funding. No news on CLN and POW 250k due 19th August wages to be paid, limited authority to issue shares, lenders growing restless, 200 tonnes in limbo, FASO stalled.

Last chance saloon on DRC and its now $15m not $7.5m

RRR is in a good place Helpful says :)

Not that anybody here is aware. Another case of you know everything or nothing ?

Not particularly professional or nice thing to do.

But its who you are.

Sorry risk weighted outcome of not a lot ( not Nil).

I think FASO may have gone the same way as the 200 tones of Lithium but they are afraid to say. We will see.

Soma chances nil as quarterly in arrears. FASO is a long way off. The intelligent layman would apply a risk weighted percent to your "outcome" as nil.

No amount of evidence will move you off the fence in my opinion but time will tell.

Nike its not a projection its a broadly true statement based on two years of actual accounts and events.

The layman will realise it reflects

30 months of imminent

Absolutely nothing else delivered .

A burn of circa 2.5m - 3m a year.

Agreed if an asset sale delivers many millions tommorrow that changes. But that's where we are today and why the SP has crashed over the last 30 months

AiM - I have to pinch myself !

30 months after $7.5m was imminent its now $15m.

Helpful is comical gold the gift that never stops giving. Him being an Investment Advisor and all

Fair point Nike so let's add another six weeks to my conclusion so Jan 25 we would have spent $7.5m since imminent announcement

Not intententional but at a strategic level how could anyone say RRR is in a good place. Don't want to nit pick with you but my conclusion is broadly right backed up by evidence.

You asked my view Helpful

$15m nearly the same as Greeland and we know what happened to that ? Lost in a Cypriot bank maybe that's where the Lithium is.

I'm so confident on RRR that over a year ago I said I would end posting if we got the full $7m. Now it's $15m you might see the back of me sooner rather than later and we'll done shareholders.

When Bell said in Jan 22 $7m was imminent has he blown the full amount which is £5.5m while we wait ?

Answer nearly . Why?

1. Increase in recorded assets.

December 21 Asset value in the accounts £18.912m. December 23 balance sheet £19.105m. Twenty-four-month cash turned into assets £0.195m (£0.2m)

2. Increase in recorded debt.

Dec 21 creditors and loans £4.751m December 23 £5.288m. Twenty-four months increase in payables £0.537m (£0.5m)

3. Dilution from share issues

Dec 21 1.222bn shares in issue today 4.785bn . Anyone investing for DRC has experienced a four-fold dilution in there holding.

4. Proceeds from share issue.

2024 - 260k cash 216k debt repayments (ignoring POW as its asset backed)

2023 - 1656k cash 600k debt repayments

2022 - Zero cash 108k debt repayments

Summary position 1916k cash 924k debt repayments = Grand total of £2.84m.

5. 31st December 23 to 31st August 24. We know debt was £5.288m at 31st December and we know from accounts RRR burn 250 k a month - requirment £2m (less raised by share issues in 2024 476k) = assumed growth in debt for 2024 to 31st August say £1.5m

End of term report

Asset increase £0.2m (this is a positive) , increase in debt from accounts £0.5m, shares issued and resultant dilution £2.84m assumed increase in debt due to share count being so high we can issue (based on historical burn) £1.5m . Loss in value £4.64m as at 31st August 2024. By 31st December 24 = £5.64m

By my calculations $7m is £5.5m

Imminent was Jan 22.

Since then RRR has blown £4.64m in increased debt [ offset by small increase exploration assets] and proceeds from shares issues.

By Dec 24 we would have blown the full proceeds in advance of its receipt.

Workings to follow