Member Info for Banburyboy

" i get deals across my desk like this all the time"

Arrogance oozing out of every Lundy pore as ever.

You are also a major SH in Elephant. You personally advise on that IPO. You've been bigging Elephant IPO for five years just like you have bigged RRR up. Your track record is appalling.

You look like you enjoyed yesterday's love in with your new mate Nike ? bull**** is in full flow into the late evening.

If and its a big if FASO revenue occurs holders want short term debt paid off immediately not you chasing rainbows.

"I will follow this up with opportunities for RRR once casflow has started from BF."

As we don't know the terms of the "gentlemans agreement" no modelling is possible.

Paying off £5.5m of short term debt ( including your CLN) and all the other debt at userous rates might be a good start.

Opportunities come later - you really are getting carried away with the ramping. Look in the mirror at your track record ? It's a shocker.

How he has the "neck" to act like an investment guru when he has relentlessly hyped this from all prices down from 1p to 0.04p is criminal.

He has no shame and is an absolute charlatan.

Nike with greatest of respect you have not had seven solid years of Lundy relentlessly plugging every aspect of RRRs performance as the next big thing.

Not one has come to fruition and the collapse in the SP is prodigious.

Kemeche on the other board posted some brilliant examples from those times yesterday.

I will repost so those in this board can judge for themselves.

There you have it

" when I bank $10m plus from RRR I will leave you to it"

Lundy has allways been one of the "few". When Andrew over extends as he is doing now, one of the "few" will pull the plug and the carcus will be divided.

Nothing of value for ordinary Joe's.

I call un- informed as someone who says :

- production in April then when that's wrong June now July.

- somone who seriously says costs of production $300-450 an ounce !. He's upped it to $750 which is better but he's just guessing.

- somone who says throughput 1,100 tonnes per hour !

- somone who says 5,000 ounces net to RRR soon.

- someone who says do the modelling bandwidth blah blah blah with no idea what % of FASO we own or what the terms of the MOU.

-someone who says look at the model Tin Hill 1-5m tonnes per year.

- Someone who says RRR is in a good place !!

That's what real un-informed is unless they are trying to deliberately mislead ?

Helpful - just hang up the boots and move on.

Your posts are laughable

It's commercial in confidence like the explanation for no lithium updates.

Honestly I think all of there updates are aspiration based rather than factual.

Odd on 31st July no staff no kit no trucks no production no sales.

That might sound cruel but they have never ever delivered anything. They will need a lot of luck for that to change.

Talkinto debt must now be over £5m (at horrible rates based on last accounts).

Add to that major PI 's funding POW to avoid mega dilution and we have a company with no income or any short term prospect (FASO ?) funding £6m plus of debt, gowing at 250k a month plus accrued interest.

Its unsustainable and it only takes one default and all these valuable assets are gone and SH's wiped out.

That's not to say there is not value there, but Bell is playing Russian roulette and is very economical on updates (particulary financing).

News forget investigating me you are getting yourself in a real tizz over nothing. I am an Accountant but modest and no expert on certain aspects.

Let's move on. The said broker report of 18

months ago had an SP target of 2.8p. Out by a factor of one hundred compared to today.

Pretty poor YES /NO ? Sorry I could not resist.

As such not many researchers ( that's what you call yourself) would place reliance on it or if they did it would be heavily caveated.

Helpful you have adopted the same smug talking down to posters attitude for seven years.

Unfortunately you have never been proven right once.

Self reflection and you are poor bed fellows and you have more neck than Bernard Mathews.

Apart from you and our resident "researcher :)" no one is buying it.

Same broker note that had an SP target of 2.8p less than 18 months ago. They were out by a factor of 100 with the SP now at o.04p . Guiness book of records stuff. Never has a report been more wrong. No wonder they now steer clear.

All they did was extracted costs from the accounts and accepted management declaration it was an area of interest.

Shoddy work of epic proportions.

You are defending the undefendable !!

News you research on Kenya is very superficial.

The £13m or so they have spent in Kenya not a valuation.

The accounting policy is clearly documented in Note 1.4.8 of the accounts.

" The group adopts the "area of interest " method of accounting whereby all exploration and development costs, relating to an area of interest are capitalised and carried forward until abandoned. In the event that an area of interest is abandoned, or if the Directors consider the exploration as of no value, accumulated expenditure costs are written off in the year the decision is made"

RRR auditors Littlejohn's would take exception that you are using what is quite clearly a cost recording in the accounts as a valuation.

Not even RRR are saying its worth £13m that are saying they are not abandoning it at the present time. It could be worth anything from zero to one hundred million.

Were the auditors apply the going concern basis it would need to be revalued.

IMO If it was worth more than a £1m it would and should have been sold by now. The SP also seems to correctly reflect a very low value (far less than £13m) for it as no progress has been made for nearly twenty years.

Readers can either take the word of News or the published accounts.

Good to see you back i can endure more of you telling me i'm not an Accountant and of Congolese origin. ?

Sadly i am the said accountant, ethnic white and nothing to do with DRC. I would reccommend you stick to evidence based research rather than generalities when defining research.

To be fair Helpful on 27th Feb RRR said the equipment was in stock and would take 6- 8 weeks to arrive in FASO.

Only taken four months to move from stock to port !!

Mid July production is ridiculous. RRR know that andcso do you.

Noted its Reach and just an update. No mention of DRC ( what you say !!) or Lithium trucks.

We have to take them at there word re FASO but as ever it lacks specifics on timeliness and ports etc.

Looks like Bell brought some trucks in Barnsley using Riverstones cash !!

Nothing here to move SP

" our local representative in the DRC has now received a call from Kinshasa advising him to stand by and be ready for the matter to be concluded"

A long time ago now.

At home in Wandon Place Fulham supping a beer and entertaining his local Reform Party bigwigs.

Might be flicking through auto trader for trucks to.

Helpful very subdued he never wants to be seen as the guy flogging a dead horse but he's tetchy today.

Refusing to reflect on his past performance though or hang up his boots. He's in for the long haul or the bitter end.

All in here and remain content with progress.

One point I thought would be picked up is the statement that reducing blended interest rates from 10% [ annularised] to 9.5% reduces annual interest on the debt by $579k.

On a debt of $29.3m half a percent annularised is $146k !. The figure presented $579k is analogous to a reduction in blended rates of 2% not 0.5%.

Feels like an error or very poorly articulated.

Spookily TND RNS confirmed today confirmed shipping rates have trebled in the last quarter.

The last RNS said we were sending it by ship rather than air as promised as shipping was CHEAPER . Air Fright index is static over the last year.

The reality is from what we understand there are customs issues with air which make it not viable.

Yet RRR see fit to blame costs for their own assumptions being wrong. Just tell the truth plan A air did not work so plan B is shipping. !!

It's why I love RRR it's a proforma on how to run a company badly and Helpful just adds to the intrigue.

One day Rodney the coun will fall correctly but with RRR their will be undisclosed vultures on the sidelines to snatch defeat from the jaws of victory. Time will tell.

If the freind lives in Barnsley or Scotland all the better.

In a sort of way of all the priceless RRR moments that tweet was up there. Keystone cops / comedy gold.

What's AB doing viewing trucks ? I sort of have this vision of a Northern Arthur Daly selling him a few insurance write offs. Sadly no tax releif as we don't make any profit to offset it !!