Member Info for Banburyboy

Nearly 2.5 years since DRC was imminent.

Five months ago that it was so nearly over the line Mr Bell wrote two versions of the Chairmans statement. !!!

Interesting to see what the next twist and turns are ? DRC /200 tonnes are shelved all our eggs are in the geo political hothouse of FASO with a gentlemans agreement with our supportive partner [ there will be news on this eventually and it's that Net to RRR that is all important]

$3.5m a month to RRR from June 24 - do the maths he said :)

So Blue was right and Helpful whose head can't get through a kitchen door was wrong.

Unfortunately Nike none of thos matters we are 0.045p for a reason.

Lack of trust in anything the company does, a desperate balance sheet, years of over promising and under delivering and FASO being a desperately difficult place to do business and an unclear and murky relationship with our partner Riverstone.

Onwards to June when Helpful will be wrong again.

Blue he started with 83m shares and started blowing them in 2012. Not that it really matters.

Helpful would be well advised to act with the humility you have.

He is almost allways wrong yet has not one element of contrition or self reflection.

Never-say-shell. I really hope you are not tempting fate but share your sentiment.

I've held about eighteen months and to be fair have never seen a poor update. The finals had production for Jan &Feb 24 and I recollect it was well above guidance. Fingers and toes crossed for tommorrow.

The intellectual collusas that is Stephen Paul Lundy speaks with authority on other posters.

Hes been wrong on RRR for five solid years.

He lives in a fantasy world of commodity prices and scouring the net for neighbouring tenements.

He's got a ridiculously self inflated opinion of his own knowledge and abilities, is seldom right and does both holders of this share and the company no favours by posting.

We await his gold projections 1,100 tonnes throughput, $350 -500 per ounce costs. 5,000 ounces soon, $3.5m per month to RRR from June. The man is a fool.

Nike are you old enough to remember Viv Nicholson who won the pools and had a book spend spend spend. I'm not but my Dad quoted it a lot.

At best Jupiter was a lucky windfall but Bell blew the lot on outfits like Candy Crush and Steelmin. There was nothing tangable to show.

Not sure a gain is a gain unless you have something to show for it not in my eyes anyway.

Nike I go back to 2010 and Greenland.

Jupiter was a disaster. RRR had 83.7m shares in 2010 by virtue of a holding in Australia.

Bell frittered the lot between 2010 -2019. Despite the dividends being excellent and saying he would not.

The price on the ASX for a share last night is slightly over 30 Australia cents so 15p. Shares today would have a value of £8m plus.

Current market value of RRR is £2m probably £4-5m of debt so the market is placing a valuation of £7m on the assets.

A year ago those figures were £5m and £2m.

So Bell is destroying value by replacing equity in the EV with debt in the past year.

It's another angle on the death spiral.

Memory test Nike

The Limon I think in 2017 and then a long contractual debate on terms. Not aware of anything since. Enlighten me ?

Jupiter were shares so don't count and have recently gone through the roof. Last sale 2019 still a success on the website now !!

Greenland 2010. In everybody's top five of RRR capers. Sold for $20m cash received and then lost in the Cypriot banking system not to re-appear.

We are still paying 180k a year in remediation costs on Greenland in the last accounts to 31st Dec 23. That was a disaster.

What's missing on the list of asset sales ? Feels like a complete set to me.

Maidit - "we have assets to die for !!"

Bell has had the for sale notice over all our assets for years. No takers tells you everything.

Maidit for the avoidance of doubt the NOMAD is doing the right thing and verifying the company's releases having been badly stung.

Long may it continue - we agree Reach RNSs are not much use.

Talkinto it's compulsive watching.

There is no company I have ever seen as badly run as RRR and with so many twists and turns. Keystone cops in Steptoes yard spinning plates !!

Good post bigbad.

Agree most of it except you point on the board. Pitcher and crews salary is obsence for such a small cap. His salary is more material than his shareholding and they are all conflicted.

I hope they do the right thing and recommend anything over 3p as opposed to the recovery plan.

Hope you are right and sell order gone.

Interesting one

Wheres Lundy ?

Moods a bit grim some links to commodity prices or neighbours is just the tonic we need.

Even a 50% rise only gets us to 0.07p. !!

The big Lithium spike in June 23 with all the five Chinese buyers nonsense got us to 0.25p and impailed the unwary.

Getting to that is a 530% rise.

Strange some die hards on here suggest " RRR is in a good place"

If that's the type of financial advice he provides I'm surprised he's in work.

This is a fascinating situation.

I'm not a fan of the restructuring proposal and did not take up the rights as (1) it keeps highly paid board in place (2) mega dilution as 1.2bn shares most in three major investors hands.

On the positive it gets rid of the poor bars at limited cost and has a bank write down.

Any bidder would have to settle bank debt.

- Peach standalone is worth bank debt which means the rest could be had for a relatively low sum so 280m shares 5p a share £14m. Debt free synagies from another pub group seem reasonable to me. Soreally hopeful of a better offer.

HOWEVER - the big deal is the potential vote on what offer to take. At present the big PIs will vote for a restructure [ they get a greater share of the pie] not a 5p offer which is better for small fry.

What I'm not sue is who makes that decision so how could the board tell me a 5p offer was not as good as their restructuring.

The interest is amazing and I removed by 2.99p sell order for my 175k of shares ( number not value). Average 3p

The restructuring plan is a good backstop but hoping for more

Basic maths says it would Nike

200 tonnes at say 1k a tonne = 200k.

The equivalent fund raise would be 500m shares at 0.04p or 12.5% dilution

So what if RRR miss out on marginally higher lithium prices. Its called selling an asset to avoid dilution something AB tells us he wants to do relentlessly

Unless of course the 200 tonnes is as fake as its pictures.

Bottom line is trust again. Very few IMO beleive in the 200 tones too many were burnt in the hyperbole RRR created on Lithium and that's why FASO can't gain traction.

Time will tell.

That's just the wordy bit Nike.

Nothing on the balance sheet to indicate any asset holding that classification- goods held for resale or stock and nothing going through cash flow statement.

I'm not a forensic accountant but know a bit about accounts.

Sorry lots of questions to answer for me and many others on the mercurial 200 tonnes.

The year end accounts are audited and in far more detail so should reveal a lot.

Of course selling a stockpile now even at a loss would be better than a fund raise :)

Nike - I'm the accountant!

It would be stock for resale. Nothing of the sort in the half year accounts.

RRR own 47% of ALR and its probably more appropriate to their acounts re consolidation . I've reviewed ALRs accouts at CH and they pre date the period so can't draw any conclusions.

Needs a clear statement of whereabouts IMO. No evidence through accounts

Three of note

Mid June 23 0.13p to 0.25p

Licence at Tin Hill

October 6th ish 2023 0.1p to 0.16p

Involvement of Sam in Zimbabwe.

End of Jan 24 0.0715p to 0.11p

Lenigas appointment.

All of them damp squibs.

Trust a real issue and struggling to convince the market on FASO.

We have had months of [1] commodity prices on the up [2] junior minors turning [3] theories about investment cycles.

That might be true for other companies but this is RRR.

We are oftern asked why are there so many bashers on such a small cap company. Simple answer no conspiracies just a huge trust issue.

Over a very long period Helpful and the company have over promised under delivered and arguably misled a lot of us.

What holds good for the market will allways bypass RRR. They need to ACTUALLY deliver something not just promise. Until that happens we won't mirror the market.