Member Info for Banburyboy

Not forgetting its an all of nothing deal. So we take all the assets [ excluding Russia].

In time some of these that are not a great strategic fit and none core will be sold and help reduce debt very quickly.

As said earlier only thing that worries me is BASF being an unwilling SH. Solve that and a good deal becomes a perfect one. Any ideas ?

Sekforde - is that a plug for them to aquire ENQ which I know you are mega keen on. If might still happen.

Pluses for me are :

- huge message to RS &JH and Labour that current EPL is pushing companies out of NS. Hopefully this is noted.

- most of debt at token rate 2.4% with four year maturity.

- cash paid from 1st July 2023 operations of Pro forma company [ that's a deal breaker]

One big concern and for me it is big. BASF wants out very nervous on the future impact on SP. Would prefer a passive partner like a pension fund or later in the process a debt for equity swap to take BASF out the equation.

Today should be interesting. Don't think it will go down. I think 320 Xmas close.

Spec - uk tax years are from 6th April to 5th April annually so the rush is the end of March early April.

NKOTB - sold out on SQZ but heavily in HBR and delighted.

Hope SQZ can pull off something. Still don't get the TWND deal.

Let's hope they can do something similer

Yes Dukey finance cost in 2024 will dwarf the 613k in 2023.

I think it must be 80k a month now.

The 19th October CLN was overdue from yesterday so the bill just for yesterday was 23k as a 10% penalty charge kicked in.

It's mind bending and Lundy posts copper prices !!

I genuinely beleive if no DRC by March it is curtains it horrible even by RRR standards.

In 2022 they spent 676k on developing sites. 1225k on admin costs and 209k on finance cost. 32% of costs were useful. The rest wasted.

In 2023 they spent 250k on developing sites, 1380k on admin costs and 613k on Finance cost 11% of costs were useful. The rest wasted.

Seriously RRR gives the word lifestyle company a bad name.

It is absolutely shameless that for five years Lundy has ramped this dog whilst being an insider.

Don't know about suing people on this BB. If this goes belly up I would happily spend time pulling together evidence for an ethics complaint against Lundy for anyone that has lost money because of him. You won't get your money back but we know his name office's other interests the name of his solicotor and a contact he gave us should we be unhappy. Reputationally it might be less than helpful for him !!!

Just by way of balance :

Bell had a two year legal dispute with the buyers of Limon. So receipt should not be taken as read.

The company in its accounts has started booking receivables for this as income. Very telling no cash has been received.

Do you think if Bell could have sold the royalty to avoid the 666m shares being issued he would have done ? The fact he did not tells you its far from certain and as ever with Bell we have to sue to get it.

Spec - Lundy is a major shareholder in Elephant.

Many on here know him as loose lips Lundy. He told us RRR only owned 47% of ALR. If Elephant was looking good we would know.

Spookily the drafting error in this years accounts is Note 11 Investments in Subsiduarys it is still years 2021 and 2022. They have negated to update it for this year. I will let Littlejohns know. So I still don't know if its 47%.

£2.5M on balance sheet

£2.1M off balance sheet arranged through RRR coal

£2.0M owed on CLNs

No wonder we spend 700k a year on finance charges.

DRC if it ever happens unfortunately has been blown. Still 10k bonus for AB - great year.

Two years ago Bell said. Profit is not a measure relevant to RRR as we develop assets and sell them on we are not a producer.

Two years later we are a Lithium producer.

He should be run out of town not paid. He lurches from one calamity to the next. This is a lifestyle company not an investment.

Finance cost double. They will treble soon. 19th October CLN went into default today. 7 days after share issue. 10% penalty 23k pis**d against the wall. Bell needs sacking.

$2.25 a share half of what the embellisher in chief Lundy says. Another reveal from the accounts.

More Lundy rubbish" should be worth about $300k to RRR in 2024."

The accounts have it as £171k in current receivables note 17.

Interestingly they have credited 228k allready for a set of accounts ending 30th June 2023.

They have received NOTHING . It's got dispute written all over it and we had disputes on the initial consideration back in 2017. As Zumore says dogs dinner and no guarantee at all we will be paid. The normal appalling RRR arrangement

Page 13 Andrew Bells going concern statement ends.

"In particular, if proceeds are not received from the DRC arbitration early in the New Year then, in the absence of adequate asset sales another fun raising would be required"

They won't sell assets anytime soon its a fund raise end of.

Robin still working my way through but .....note 9. They all got a bonus in 2023 [ nil 2022] Bell got 10k.

I also laughed as we spend 319k on Directors and only 655k ( including that 319k) on proper staff. The Directors are half the total wage bill.

They can't even tell the truth in the front of the accounts on what they are paid.

Elephant has also Page 69 been revalued down to $2.25 a share. Half what was asked for on recent IPO clearly no interest.

Culpepper my first buy was £1.55 but brought 4 times as many at £1.29 so into the blue. You know I'm really bullish on this one.

Cash position at 31st Dec will be interesting. I think there could be a case for a special.

Even without it with inflation at 3.9% and falling the yield looks good.

I'm holding

Freeze on executive and no executive pay in year.

Material uncertainty in regard to going concern.

DRC quoted as £6.77m gross (less fees and costs)

This statement by the Directors appears twice

"In particular, if proceeds are not received from DRC arbitration early in the new year, then in the absence of adequate asset sales another fund raising would be required"

To do that they will need authority from a GM and the prudent approach would to be to announce GM now as it takes a while to arrange (that's not a critisism but precautionary)

Busy today but will work through SoFP debt later.

Not read them in detail.

I was wrong about suspension so hands up. Bell sounds very upbeat.

The 19th October CLN - 225k is due today. Either a placing at 0.006375 (Co does not have authority for that many shares) or cash. The non payment terms add another 10% to the 225k total.

Nothing has fundimentally changed he needs DRC

Gold up Copper up. AB bullish about Lithium next year.

This Stephen Lundy fella has to be the best mist informed poster on LSE.

Strong buy for me.

Lundy posts plenty of links to our neighbours doing well. Not once to my knowledge has it rubbed off on or benefitted RRR

And the link between that post and RRR is as ever massively tenuous.

Great to see him back and I'm waiting expectantly for the all important gold price link. That's what really matters