Member Info for Banburyboy

Raised 210k at interest of 6% up front plus 0.5% per month

The issue on 14th Dec triggered either a conversion (15% discounted) or repayment with 7 days.

As RRR did not have headroom to issue share penalty interest kicked in of 10% plus 1% a month.

RRR got headroom from AGM on 14th Feb and holders of £134,820 including interest chose to covert at 0.06375 which was 211m shares and one to one warrants issue able at 50% above 0.075 placing [ 0.1125p]

So RRR benefited from 110k for a period from 19th October 23 to 14th Feb 24.

- It paid £24,820 interest compounded by my calculations. [ over 100% APR]

- they got a 15% placing discount at 0.06375. 211m shares.

- they got 211m warrants at 0.1125

- the broker gets 15m warrants at the same price.

As a single dilluative event its probably the worst pound for pound issue Mr Bell has done.

It was deliciously ironic that at issue on 19th October he described the CLN as a novel instrument to protect shareholders from dilution.

Draw your own conclusions but maybe they need Scott Kaintz as Finance Director

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To add a bit more balance any merit that the claim may have has been undermined my some of the most ridiculous positioning on success I've ever.seen.

It's why many have lost confidence. Time will tell.

Blueboy - it's undefendable tosh. News needs to consider all these FCA rules.

Mr Bell said two years ago it was imminent. He stated in last two accounts no dillution issues as he would get funds. In December it was so close he prepared alternative accounts. It was days then soon.

News insults the intelligence of investors on here.

You can only cry wolf so many times.

Spec - you know I'm the only paid poster on here :)

H5O before you start its a type of humour known as "irony".

We all need to see the funny side investing here.

Talkin - DRC and Lithium are on a slow walked back-burner.

Sadly the company has a track record of moving on too quickly, spinning o many plates and over reaching / commiting.

Your point on gentlemans agreement / SLA lack of clearly defined governance on Faso is well made.

It was rushed into as they are failing in DRC and Lithium I suspect. I also suspect some type of debt finance is in place as shares have not been issued

I just hope they don't rush into something similer on oil in South America.

This is all speculation on my part but having watched this for over ten years it's my considered judgement. DYOR and IMO only.

Good luck to all holders.

I would be massively delighted for DRC to be delivered as some great posters on here.

I'm seriously not sure why he posts as he's just a figure of fun.

Personally I would seldom pop in ( and the company blames me unfairly for a bit of the negative settiment).

Gag Helpful and his ridiculous hyperbole and the company would get some respite from the bashers.

If Helpful could read he would realise evidenced by charts for the last year as gold has risen RRR share price has fallen.

Helpfuls in denial unfortunately the markets perception is whatever the price of gold RRR delivers zero so its not relevant.

"RRR is in a good place" and we cant read. Our Helpful is the worst Investment Advisor in the world and misses the basics of Investment - RRR has an appaling track record that's why Andrew was called ironically the man with minus touch. Sentiment is everything and RRR is I would beg to differ from the expert. Not in a good place.

Dukey - I have news on filter but a huge amount of green indicates he's busy.

He calls me the "resident " looks like he's taking over the nest.

I like to post early and add fuel to the fire of News and that other long termer H50 ( the conspiracy nut job ).

The fundamental premise of the conspiracy is we are paid by brokers and connected to manipulate the SP . For the umpteenth time i am not.

As you say we've all been here ten years plus. I only found out today you were Mark.

I'm struggling with how any rational sane and normal person could reach the conspiracy, they even got Bell at it now.

I have also refuted that umpteenth times. Perhaps others need to lawyer up :).

Dogs its really smacks of a CEO who is in denial on how poor his performance has and continues to be.

Never mind complaining about posters on here blaming shorts or threatening posters with legal action.

The Reach RNS showed there are many on here who will buy in at the sniff of good news. The more false dawns the less the appetite to invest and the greater the noise from bashers.

He is the one who said imminent then days then weeks then judge us by our exports no one else said that. He created that expectation he has to live with it.

Bottom line is company has over promised on Lithium and DRC and delivered nothing.

Until they prove they can get something over the line the SP will remain subdued.

I'm still pretty shocked AB attributes SP issues to market manipulation. That's what others reported from X. For me it's sentiment and trust. To many false dawns. One day this share might have its day but for me it's DRC or bust.

Yes Dukey not a good time for a share issue.

If the company has found funding from elsewhere ( asset loan) its preferable.

The burn on projects is worrying. If they get money from Faso in three months brilliant. But many not convinced. DYOR and IMO

They could pay someone like Burford to assess the recoverability of the claim ?

Those fools at first equity when producing my favourite 2.8p broker note in Jan 23 clasified recoverability as the full $7.5m and as "soon" [ within three months ] Helpless was in his element posting the broker note.

I chuckled when he posted it again last week for AIM dogs as a link to the many assets we have which are not DRC. Every timeline on every asset stared by the broker missed and he says we can't read :)

Yes Speculative sounds very resource intensive.

God forbid they wheel out the South America oil update and more expenditure to.

Logic suggests asset sales cost cutting and await DRC as the simplest and most effective strategy. That's what the Chairmans statement said and the accounts.

I was on record for a long part of last year as wondering if DRC was dead. I can't prove that but my hunch on trucks 2 -7 seems to have been accurate.

Does any one know if their is any independently verifiable evidence of progress on DRC. I know the auditors allowed some expense to be capitalised on the basis it was related to the outcome of recovery - but the test there I beleive is a relatively low bar.

The ultimate worry is if the likelehood of DRC success has reduced what incentive is there to the Company to disclose. ? I would add there's absolutely no legal requirement to update I'm not suggesting wrong doing ( it's more the human nature angle )

Just like Greenland we could sit here fifteen years later and be none the wiser as to why despite proceeds deposited in a Cypriot bank a deal was ultimately not done.

Some good posts yesterday and an informed debate.

Take your point Spec but 19 tonnes [ Helpfuls upper end] per Minute 24 /7.

The conveyer belt would have to be five metres wide and move at a serious rate of knots and the poor person chucking the stuff on.

I get high volume but that feels insane.

Helpful seriously does not help the company.

Yes lots of risks and not a safe jurisdiction.

Yes Zumore little did the Chinese know it was 200 tonnes !!!

Dukey my guess is Riverstone have a charge over the assets and are funding. Pure speculation but RRR did similer with Riversfort and Prime Resouces Ltd so do use debt finance.

Probably better than placing at current SP.

Gives Bell three months or so to get DRC.

I'm really not buying they will ever reach critical mass on cash flow in Burkino Faso in the period described. RRR does not movevquick except on placings .

I can't beleive Helpfull has suggested little RRR can process 19 tonnes per minute of alluvial ( his figures). Per minute

From a company that can't export 200 tonnes of Lithium [ just over ten minutes worth]

It should be illegal to post ridiculous hyperbole like that

He said do the maths Dukey put it through the first equity model. Tens of millions much better than Premier.

We laughed at him then. I can't beleive he's got the audacity to put $1.5m a day. It's absolutely obsence.

Even by his ramping standards he's lost it.

We've debated this a lot but Helpful hinders the company.

If Bell gagged him I for one would agree not to post.

You all know the reasons but they boil down to him being an insider.

It's mindless and drivel and in no one's interest.

As Spec points out no risk or balance

Mr Bell please gag him.

JFK8 I'm sure Helpful has said on here he's never lost on this.

I speculated as to whether he was one of the big PIs who participated in placings.

I don't know at all but that would explain never losing.

That post was removed I'm not sure why as he is on record as owning part of ALR and some of the CLNs so would seem logical.

Bet he's not advertising his Lithium spreadsheet.

He was saying tens of millionson that six months ago !@

Where are we ? 200 tonnes but not our own and gathering dust in Zimbabwe.

I prefer keystone cops to Jackanory.

Something on the other board made me laugh.

Apparently a decision has been made not to IPO Elephant to protect its accouts carrying value. Its tounge in cheek. But Elephant really is of limited use.