Member Info for Banburyboy

Maid it your not the sharpest knife in the block but even Help will tell you the consideration is capped at $3m.

That's been discussed on here dozens of time

Maidit you really must be away with the fairies

"HP you can allways be relied upon for the correct information"

Hes in denial - the moral equivalent of drugs / smoking and drinking is good for your health :)

Soma gold - a bit of balance.

RRR had a long legal dispute with the buyer on terms - this lasted nearly 2 years with a lot of acrimony.

Suspect it will be very hard to extract the royalty. AB has poor form on legal issues.

Let's hope it's not an issue.

Passage nearly but not quite.

The bank have allready supported the restructuring and contributed via a write off which leaves SH with an SP of today 1.5.

They would prefer all there money back from a sale and quiet a few party's are interested.

Fundamental difference is bank is 100% supportive of company continuing.

Question is will that be

- a bid and hopefully more than 1.5p

- the existing restructuring and CVA which guarantees the funding if you read the terms for two years.

So wipe out definitely won't happen.

To add AS it will be Echew pending the concusion of the outright sale.

Ian - I agree £50 if they then go straight to admin not out of the question.

as - I'm assuming the money for the raise is returned with or without interest.

Can see how they could participate.

Absolutely convinced a good bid 4-5p would be voted down.

So my view private equity has to

1 - pay off bank in full £28m

2 - offer shareholders something meaningful say 5p = £14m

£42m gets the company and they send it straight through restructuring but the gain not our top three.

Personally I think we could see some strange behaviour here and the big SH vote against 5p as there is more value TO THEM in the restructuring which massively increases there stake and gives them control.

If we get an offer and the SP moves anywhere close to the offer price I'm out. Got about 160k shares at an average of something like 3.5p. Happy to escape with a haircut but feel sorry for LTHs

OK- but the decision to accept or reject any counter proposal must only be determined by the holders of the 280m pre annoucment shares.

My understanding is the 12.5m raised is in trust until the board votes on approval.

I think if someone bids 5p now it goes to a vote of the 280m. If its rejected it reverts to the scheme of arrangement.

At least we are not going bust :)

Ian - the new shares don't participate in the vote

The three main SHs have a huge conflict of interest !

Accept a bid of say 4p which would be better for you and I OR

Reject it as the open offer gives them a much greater share of the company.

Any offer will have to get the support of the bank and even if it looks on the face of better than restructuring I think it will be voted down

The radio silence on the 200 tonnes is massively telling.

Trust in the company was allready low but the rubbish on Chinesez buyers, 200 tonnes and judge us by our exports !! Took it to a new level.

Even if they received $7.5m after Greenland the Nomad would want I suspect independent validation. Beware the DRC Reach RNS it is NOT accompanied by no independent assurance.

Great link Helpful.

I think RRR had a Lithium operation. You also own 10% of it. Its called ALR

In the summer 23 you said 1-5m tonnes production.

First exports of measly 200 tonnes ( November 23)

Unfortunately no exports were made and RRR have lost track of 200 tonnes.

Against that backdrop why would posters think that Lithium prices are relevant. We are actually a laughing stock in the financial press " Blue Air Resouces"

RRR has only shown abject failure to date.

Please post something more relevant :)

Maidit you have predicted a movement North at least twice a week since you joined the board in the summer of 23.

The law of averages means you will be right one day.

But never has the saying one swallow does not make a summer been more apt than for RRR.

News

Helpful provided what they call in the commercial world a rough modelling"

Rough is the biggest overstatement in the world.

He is on record as stating

- $350 - $500 per ounce cost. That's Rubbish. He's doubled that but still light

- 1,100 tonnes per hour throughput. That's rubbish He's revised that down to 100 tonnes still way over but better.

- Production mid April 24 - Rubbish.

This is not rough modeling it's garbage.

What makes it criminal is as blueboy has alluded to he is a company insider who IMO is deliberately trying to mislead.

Take your blinkers off and look at who he is.

Most on here have far more of a problem with Lundy than RRR.

We're he to quit posting you would see a far better board.

-

Here's Helpful.

The one man share destruction outfit.

More neighbours nonsense. YAWN

Wheres the 200 tonnes ? Surely we've not be lied to ?

700m share headroom.

Last placing 0.051p including we assume our gold costings expert!!!

Placees Unable to get a spike for an escape.

Unlikely to want to participate unless at bargain basement price.

I reckon 0.04p .

700m shares = 280k. Less commision as evidenced from accounts say 250k.

Giving away 17% of a company Mr Lundy tells us is worth hundreds of millions for 250k.

I think our gold costing expert Mr Lundy might be wrong again.

Due diligence according to RNS ended on 19th April.

First condition of sale was at end of due diligence the report confirming RRR was sufficiently capitalised to proceed.

Interesting DYOR

Yes Nike that's what the accounts for the last three years also say. I do my reseach.

You and I both know FASO government must be given ten or fifteen percent so that's 90 or 85% max to RRR

The company gave away a share of ALR for funding 27% . Highly likely they will do the same with Riverstone.

They will not tell you anything other than what's in the public domain which I allready knew.

They have no obligation to RNS it.

Watch listen and learn. December accounts will reveal all. If it does not get released before then

I picked up just by the wording on the Lithium export RNS it was rubbish. One truck across a border. The 200 tonnes has gone forgotton buried.

I have said if this hits 0.2p again. I will quit posting.

I will add if in the Dec accounts we own 85% plus of Greenstone I will also stop posting.

Shame Helpful doesn't have the courage to similarly back up his convictions.

Yes Spec . I agree and have said that a lot.

I think the company got badly stung by hyping Lithium and the criticism in the financial press " blue sky resources".

They have rightly been more circumspect on FASO albeit with a few own goals on wash plant and report.

Poster Helpful does them no favours as an insider and blurs the boundary between what is fact and fiction.

Yes Robins both comments were strange to say the least.

Riverstone are not doing this for fun and I think will gain a significant equity stake. RRR are allways skint and gave away 28% of ALR [ 75% to 47% ] for buttons. Riverstone have RRR over a barrel.

All will be revealed but two considerations [1] will Faso deliver to time and live up to the ridiculous hype ? [2] what's RRR share ?

Great Post Spec and I really wish it was different.

Absolute record low buys of 0.053p and sells at 0.048p. No one is buying into the FASO stuff unfortunately.

My fear is even if it comes good to secure financing RRR has given away a very large percentage of the holding company FASO Greenstone limited.

FASo government gets 15%. I think Sam will be pushing for 51%.

Even if it was a 34% holding that's great but I fear that will be best case. We of course await the company telling us and beware Reach RNSs presenting gross figures rather than Net to RRR.

Why might they do that ?

To let placing mates sell at a maximum profit ?

Remember DRC after the election, Chinese buyers , first Lithium exports. All spikes as the herd rushes in followed by chunky selling by the "few"

Unfortunately no Herd shows up anymore after any RRR RNS. We had one lad this time who only lasted a day.

It's just an echo chamber of old timers now :)