Member Info for Banburyboy

The downside of the deal is dilution.

The HoTs specify a benchmark of the next placing over 200k.

That tells us a lot about what happens next.

If the placing is 0.75p its a lot of dilution if its 0.15p its a lot less.

Will the man with the minus touch suddenly be the man with the midas touch with a 0.15p or thereabouts placing.

We can all live in hope.

I was quite vocal about DRC being dead as many on here will know in the spring summer of 23.

My tone may have been a bit industrial as I think this company has a lot of governance and performance issues.

At the risk of being told to lawyer up ( which is not pleasent) i have moderated but i do find the timing of this and dilution incredibly odd.

It's makes me suspect the chance of DRC landing soon is far more remote than any here are hoping. Why would you arrange the deal this way if DRC was imminent ?

We raise funds relentlessly quoting DRC procceds soon , convince auditors we are a going concern because of DRC proceeds are soon . Why can't we structure this deal around DRC proceeds or enter it when cash is actually received ? Instead of more dilution.

Just feel and my opinion only they are rolling dice as DRC is far further out than many think. 2025 perhaps.

Should reD POW have a share of any profit RRR make on subsequent sale / listing.

Poor lads don't know if it's a Reach or proper RNS. Any dicking around is by the company :)

For once I agree with H50.

What will interest holders is share dilution.

3.55bn in issue now.

Current authority 1.3bn. Assuming they will seek more.

213m due to 19th Oct CLN holders at 0.11p

167m to POW tranch 1 consideration.

400m to POW tranch 2 consideration assuming issue at o.07p

700m at next placing for running the company.

The pricing of the next placing is critical if its the current SP they are diluting current holders by 40% for taking 50% of Victoria goldfields. PoW consideration is determined by that placing.

Others can do the maths but it would need to be worth $10m plus for that type of dilution and remember POW have a share of any dilution / listing available in HoT.

Incredibly high risk and does suggest to me DRC is a long way off. A final roll of the dice but potentially a better one than all the usual nonsense.

See what Helpfuls spin is or have they blind sided him :)

Just digesting this.

I would like to think RRR has got a buyer / funding JV party lined up.

If they have and the terms are good it may be a good move.

As ever with RRR the trust issue will kick in rumours on X spikes, placings and the death spiral.

This is actually the only major transaction I can remember RRR doing with no leaks / hyperbole. They should learn from it.

Interesting day today. RRR RNS on next steps could lift the SP.

Good luck all.

Bit like Lithium photos RRR scrambling now to issue RNS. Keystone cops again.

Yet another spinning plate. So much for getting cash in.

Payable in shares gulp that's 1.2bn gone.

Shares at what price.

Shocking no RNS on here. Normal rubbish corporate governance.

Two fingers up to DRC shareholders .

Pedal harder Helpful.

SP reflects too many false dawns on DRC , a lack of trust on anything else getting across the line and concerns over dilution.

If they have got a loan which cash burn indicates I think they should disclose.

A simple RNS disclosing the loan and saying they have enough cash to not dilute until 1st June and this would fly.

This leave RRR in the ultimate fix as there's a school of thought that says they won't do that as its all about Major PIs making a profit from placings . Damned if you do damned if you dont. IMO and DYOR.

Lmc - Bell and Helpful think this is a £100m business in the making with a viable claim to $400m against Glencore.

The market and many on here think it's a sorry tale of squandered cash and missed opportunity.

I think there is some light at the end of the tunnel but they are so cash strapped and diluted it's a race against time which they lost in 2023 and so far what has expired in 2024.

Yes Helpful but they are successfully producing and this is about them expanding.

RRR have never yet in a decade got anything off the ground from scratch so have something to prove.

You are a terrible advisor and rather rose tinted when it comes to this company.

Blue based on what normally happens with RRR. Mr Bell in DRC soon. Spike and share issue to those mercurial major PIs to sell into next rise.

Bringing balance all that would change if he got DRC over the line and the readies so fingers crossed.

On FASO speculative good to note cash flow by June. Interesting to note the sensitivity analysis ranged from 1.5tph to 6tph hour processed and gold produced from 18g to 768g per day.

The world worst Investment Advisor was quoting 3 to 19 tonnes per minute !! And tens of millions. It really is outrageous commentary and not even in line with the companies own releases. Lundy is Walter Mitty.

Laughing at ORR board H5O complaint about dirty deeds and conspiracies. He's priceless.

Lmc - more a question for the rampers so News or Helpful.

In my opinion the companies most immediate need is survival and cash.

Bell said in the half year report on 29th April 2022.

" A further development has been the planned IPO in the USA of Elephant Oil Corporation, where we have just under 400,000 shares including 35,555 subscribed for in pre listing placements at $2.25 a share. We had hoped to have seen this happen by now as on a float this would be significant value to us "

I had not realised RRR was paying for each of the failed floats !! Talk about throwing good money after bad.

A certain Mr Lundy is a significant holder in Elephant and no doubt is singing its virtues to our Board.

It's a dog and a listing has been threatened for neatly five years now. DYOR and IMO only.

Helpful every asset so Mr Bell has told us have been for sale for three years plus.

Not one offer however small.

Your the investment advisor and call everyone else an idiot but does that not indicate RRR assets are NOT worth multiples of DRC.

It's blindingly obvious you are ramping

More nonsense -FASO in weeks 19tonnes per minute, $40m Kenya $100m ALR its comedy gold.

Dukey

Banbury boy or Zumore, over any period we would win vs Lundy on SP performance.

Let's be careful not to conflate the ordinary share holders interest with Helpful interest.

As he has said he has never lost on RRR Unfortunately to answer talkin IMO it will allways be a lifestyle company with the objective of transferring wealth from the many to the few and Helpful is one of the few.

The rinse and repeat where shares are issued low to the preffered few participating in placings who sell on a spike has gone on for years.

No gains here for the ordinary Jo as evidenced by the SP. Significant gains for the few as evidenced by less than transparent information on placings and selling into a rise and Helpful saying he has never lost. All IMO and DYOR.

Still production in 16 days from FASO and rising to 19 tonnes processed a minute !! It comical.

Zumore - Helpful claims he wasn't around back then. But now he was. He also claims to be a shareholder that has never lost on RRR. That's nearly impossible. A cynic might suggest and lets say his name Stephen Paul Lundy is one of the favoured few who participate in placings at 0.07p and sell into a ramped reach RNS.

I think he's been asked this but did not respond.

Zumore Mr Magic was right. Let's continue his story.

When he signed of in 2019 RRR had 676m shares.

It had 1.22bn when Mr Bell said DRC was imminent 2 years ago (patently false)

It's got 3.55bn now.

News has got some real neck suggesting the companies failing are isolated.

They are systemic what have they achieved in the period since Magic stopped posting ?.

The only good news is dilution would have been greater but for selling Jupiter shares but the constant is squandering Jupiter proceeds on admin as opposed to exploration assets.

Let's hope he delivers something soon before we get more of the same.

Robins News thinks the failings are isolated bless. I could make a list as long as your arm.

So News what is it (1) all 200 tonnes of Lithium in Zimbabwe as Bell said or (2) a truck load in Mozambique as Helpful says Bell was inprecise.

Only one can be right and either outcome makes a mockery of judge us by our exports and the export RNS which was arguably misleading.

These issues are not isolated they seem systematic failings that the whole point.

So Chinese buyers / those photos I'm not getting this is isolated at all. Nor are most investers

You have been saying that fairly frequently on the fall from 1p HS0.

Yes it might happen but your track record is not great and a lot more shares than when we were 1p.