Member Info for Banburyboy

Selective memory from Helpful as ever.

For balance as long term holders will remember.

$1M of the $5m total.consideration money a promissory note was in a litigated dispute for two years after the sale. I'm not sure we ever got it. We certainly pick our partners. Can we trust these guys now to pay the royalty ?

The plant needs to process 100 tonnes a day for 30 consecutive days. So the conditionality is not on gold production as Helpful.said but on ore processed. Different things.

Not like Helpful to let the truth get in the way of an RRR pump. Then again he's an insider :)

Spec the point I'm making is 7 trucks should have reached Beira by now. If the first went 15 days ago and its a 12 hour journey. Shipment you would think would be imminent. The radio silence is deafening. I've followed this company for ten years. I genuinely beleive the commercial in confidence statement re updates was a cover for absolutely nothing is happening. Sorry they pivoted from Plan A to B and then C and the export stuff was a desperate face saving measure words rather than substance . Genuinely hope I'm wrong. I would love this company to give you some good news

No Robins it's buttons and fixed in nature so related to production not gold price that Helpful is fixated with. Riversfort overdraft covering the big man's salary unless five Chinese buyers are using him on a consultancy basis. That would help

It was supposed to list on 26th Maidit was creaming himself.

18 months this listing has dragged on. Just behind DRC which will be two years in Feb.

Has RRR ever delivered good news ? They got lucky with Jupiter but sold the goldon goose. All downhill since 2019. Accounts if they dont suspend will be interesting.

He however can comment on Elephant and knows its a dud :) Ignored Robins question.

They are maxing out on the Riversfort overdraft

No news on 200 tonnes seven trucks reaching Beira after 15 days. Maybe we've all been had

No update on our one truck Spec. 16 days would have thought 7 trucks might have made journey to Beira by now. I find no update surprising.

Also Elephant must be a dud Helpful would be shouting it from the rooftops.

Over two weeks since "The company has 200 tonnes prepared for export and the first truck has now left Harare for the Mozambique port of Beira"

So six trucks 10 hour drive - surely we would have a reasonable expectation 200 tonnes and six trucks would have arrived in Beira ? 16 days !!

That,s not commercial in confidence.

Personally i think ALR could be a dud and it was a desperate face saving measure to show some progress , pivot to judge us by our exports followed by we cant tell you anything as its commercial in confidence.

I may be wrong but the company should update on the 200 tones ? Confirming they have arrived would at least be re-assuring the plan is on track.

No squawking from Helpful yet who owns a share of the company.

It's the only asset of RRRs that he has not waxed lyrical on for the last month. Presumably the IPO didn't happen ? Can someone who he has not got on block ask him.

Zumore where are you your two weeks is up !!

There's still time Amadan.

Lots of mid Friday RNS including the speeding ticket one following all the X bulls**t.

Never seen an RRR RNS which is not proceeded by unusually large buy activity. The company let's the "few" in first. Spike then sell off can't see that changing.

Recent negative publicity has definitely clipped Bells wings, they are leaving out the X rubbish and instead hiding behind a commercial in confidence excuse (this may be true but IMO means not a lot of news due from ALR).

December today 31 days until accounts

Cgull - I agree four times in five RRR has an RNS on Friday.

There is normally large buying and double digirt trades shortlh before the RNS as the privileged " few" buy in before an RNS to sell out later.

The gravy train has ended and trust is poor - I could not even see this reaching much over 0.2p on DRC news. To many false dawns, jam tommorrow, exaggerated expectations have caught up with AB.

The 20m trade at close doesn't fit the RRR pattern.

I think he would have bigged it up by now if the news is good. Certainly more relevant than most of his posts.

Maidit - why don't you ask Helpful. Stephen Lundy he holds a fair chunk of Elephant in his own right. He will know and none of its commercial in confidence.

Sadly - some shareholders were sucked in by Helpfuls Walter Mitty exaggeration on ALR.

As a 10% holder he has a higher duty of care to post factually. I have no inside interest and can say it as it is. Helpful is an absolute charlatan who has absolutely no professional or moral ethics. RRR at record lows despite 5 years of misleading rubbish from him.

"Points to be taken from the RNS

"procuring of export licences, and establishment of sales channels"

This can only mean that ALR now intends to establish an Approved Processing Plant (APP).

The law in Zim now requires that miners only sell to an APP and only an APP can sell into the wider market, includng export.

Having an APP opens up new opportunities: the first one is buying supply from miners who don't have an APP and then taking a turn on selling the supply on; the second is that not having an APP means reduced revenues for a miner and it might be that they want to sell out; thirdly, some miners with licences not brought into production will to sell them on rather than go to the trouble of procuring and operating an APP; fourthly, it should reduce the illegal miners.

"a potential contract miner/partner has sent an experienced South African consultant geologist who from 10th to 14th August with ALR personnel conducted due diligence at ALR's locations in Zimbabwe."

1. As I have said, multiple sites not just one.

2. Why would a potential contract miner/partner go to the trouble of sending a senior geologist to look at our sites?

3. Why would Chinese agents want to talk about 5k tonnes pm of 2% spodumene? Surely that quantum is de minimis and not worth talking about?

4. Presumably, we wouldn't be in discussions if the "senior geologist" thought what we had was dross.

RRR has previously disclosed that NDAs (plural) had been signed with third parties. That was a while back; it appears that this potential partner is new. Could it be that RRR/ALR has something worth looking at?

Options:

1. Newco comes in and does the contract mining

2. Newco comes in does the contract mining and invests in ALR

3. Newco comes into a full JV, funds any CAPEX and operates the sites for ALR

Issues

So the plan is now multiple sites in production likely with Newco doing the contract mining maybe as a partner or maybe not with the product going for export.

What will the JV deal value ALR at? $10m/$20m/$30mil? How much will existing investors get diluted? Any deal gives a read across for the valuation of RRR's holding.

Maybe a good time to go back and reread the First Equity report about ALR? Maybe apply FEQ's modelling across the multiple sites instead of just one site.

I expect more announcements will result from the site visits in due course.

DYOR"

To be fair Spec I wasn't asking anyone but Bell to work for free.

Read the auditors statement if DRC Elephant or asset sales were not forthcoming in 2023 he presented a scenario where Directors did not get paid.

None have been delivered and AB is still being paid ! Cometh the hour cometh the man !! Nothing he says is true or carried through as many on here will vouch.

You turned my post on AB not being paid into something else. A decent replacement should of course be paid a fair wage.

Helpful says listing is 400k. Watch out the "few " might be looking at delisting now they can't raise cash. It would probably kill off the issue of billions of warrants to. Advantageous to the "few"

Helpfuls lost interest in Lithium. 3 months ago ALR was the next big thing - crunch the numbers through first equity model. Deflect and distract Lundy

RRR spends £2.5m a year.

Last accounts we have are interims to 31st Dec 2022.

Since 1st Jan share issues have generated £1.05m cash ( some others pay off debt). New CLN generated 210k.

That leaves £1.3m of new debt funding.

With rollover CLNs and loads of debt a fair chunk of DRC proceeds will be gone immediately.

Unfortunately RRR needs DRC just to survive let alone grow. Time Bell worked for free

Targa our resident Insider Helpful - Stephen Lundy owns a fair chunk in his own right. He probably was responsible for RRR investing !! Does he call anything right. If it went well I suspect he would have told us

Anyone know what happened ? I know Lundy holds a stake so if it went successfully would have thought he would have posted. Fingers crossed

Spec - he kept the £1m rockfort facility open . Would make more sense to use that than issue shares. The concern is the debt spiral catches up with him. He does need DRC.

I think his wings are well and truely clipped on bulls**t news to get away shares on a spike. All the reputational damage doesn't help. A new CEO with less baggage would.