Member Info for Banburyboy

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 !!

27th Feb RNS

" in parallel Riverstone will deliver the machinery needed for exploration much of which is held by them in stock, which will be imported by air and sea with a transport time of 6 -8 weeks"

15 weeks later RNS 10th June

" Gold testing and production equipment loaded on a container on way to sale to FASO.

Really awkward wording FASO is landlocked and wording looks to me school boyish and an afterthought.

It all reminds me of the first truck crossing the border on 15th November 23. That trucks still missing and we are unable to judge Mr Bell by his exports.

Let's hope we do better here !!!

He's being awkward Pumpky.

Trucks are being shipped from GB

Machinery from South Africa.

Of course none of this will result in production in mid July.

Helpful knows that

Dukey the CLN balance was 689k. We don't pay the interest which is 12% its just accrued so 750k to pay in cash mid July.

As you say warrants fell from 0.6p to 0.2p which shows how poorly we have performed.

What price will holders [ including Lundy] extract for warrents on a rollover ? 750k at 0.05p ?. 30% dilution if exercised and that's before we have repaid anything !!

Fascinating to see how this plays out. But it looks a tight spot to me.

Never mind I can guess a few FASO figures ! 1.5kg at $750 cost and we should be fine.

It's hardly an investment strategy !!

Most companies would be up front with the terms of the FASO carry so as an example:

"Pay for all set up costs up to $5m for a 40% share in company"

"Pay for all set up costs up to $5m for a 20% interest loan secured on RRR assets"

None of this is commercial in confidence its information SHs have a basic right to know.

Without such basic information the modeling Helpful is so keen for us to do us the equivalent of pi**ing in the wind.

As with everything RRR something that is not good is hidden.

All arrangements up to 30th June will be highlighted by the auditors in the accounts due by 31st Dec so all will be revealed.

The fundamental question is why does it have to be like this ? Why can't the company be honest about the gentlemans agreement and short term funding ?

Or Dukey they have an undisclosed loan agreement ( how else are they funded ) . The question is why the secrecy on funding?

Like blueboy says the fm"few" spring to mind and any benefit to SHs is problematic.

Nike - you conflate the main issue IMO - which is Helpfuls presence and track record.

It's truly appalling.

Poster Kemeche on the other board has dug out a sample of his posts covering the last seven years .

It's the same story except FASO is replaced by Tin Hill or Elephant or Steelmin or Migori or Germines

The share price will be determined by other matters.

What we can say with absolute certainty is Helpful has never got anything right period. He latches onto whatever Bells next project is and ramps it to death. That's his role and job. Forget objectivity and balance that's not relevant.

I know you are a nice guy but you are defending the undefendable on Helpful in my opinion.

0.5kg is demanding if no kit in place or trucks or personnel on site. Also what % do we own ? As Richy said fundamental

Even by your standards mid July is ridiculous.

Then again you said April then June.

It's not modelling or ranging its just making up nonsense.stop kidding yourself.

Maidit from what I can make of the last post it saying but for the Nomads RRR SP would flying high ?

New theory to add to the boiler room and shorters one championed by HSO.

A more simple explanation is absolute failure to deliver anything at all for years plus an absolute gap in disclosure on where our cash comes from.

Richy bang on. Red rock is run by the few for the few.

Until they come clean on whose funding 200k a month burn and under what terms this is a huge risk.

Worst case scenario is an asset backed loan. I keep reviewing CH for new charges but nothing.

Can't beleive anyone would lend without security given RRRs balance sheet.

Clarification urgently needed.

Helpfuls stuff is nonsense this and the terms of the gentlemans agreement are key.

Helpful my favourite reseach note who can forget it.

A target price of 2.8p less than eighteen months ago.

They were out by nearly a factor of a hundred . Its Guinness book of record stuff.

I presume they are too embarrassed to provide an update?

You've also moved away from 1,100 tonnes per hour throughput and 5,000 ounces net to RRR soon. Oh dear. Hang up those boots.

To be fair this is the same Helpful who said Tin Hill was worth £100m plus and production 1-5mt less than a year ago.

The same Helpful who said FASO April then June now July ( zero chance)

His $700 pt costs are up from his previous estimate of $300-$450 which I said was ridiculous.

He negates to mention what Riverstones share is ? Pretty critical and attributes it all to RRR.

I think his modelling needs some rework.

Even a poor accountant can run rings around any of Helpfuls numbers.

Thanks Nike respectfully i feel you are spliting hairs. It was

Five years plus Helpful has been posting relentless positive spin. So I used that term generically but it sums up his view over a full five yearsperfectly.

That's why I and many others post as we perceive him being an insider.

You an I can disagree on him being an insider. I won't go over the rationale again.

What makes it all the more gauling is his refusing to reflect on how wrong he has been year in year out and the man's an Investment advisor !

Let's just agree to disagree on this ?

Enjoy your day.