Member Info for Banburyboy

It's a loss leader and they are going through the motions to get the placing away. I think it will just sit in the port at Beira and we will hear no more. The market knows RRR well and no one will be fooled by this.

That was Zumore who did a bet. He also I think said a certain threshold. You know full well its all smoke and mirrors and you won't reach critical mass. No Chinese buyers or offtake agreement then !!

Atlantic Lithium prospect in Ghana. Much bigger scale than RRR at 350k tonnes a year. RRR targeting 60k tonnes again their own figures.

ALL up front investment is $185m and they have a partner with deep pockets offering a free carry on first $70m and 50% thereafter. RRR will need many millions.

ALR is 47% RRR owned. Helpful is a 10% owner. As well as Helpful has done he is not that deep pocketed. He spends his life on here FFS.

The original plan local sales was good but they have tried to turn the fact the original plan went wrong into a success. Unfortunately its developed a life of its own and they will need a managed exit from the ridiculous hype. Nothing burger and so typical of RRR and AB.

Market not impressed Maidit.

The boost you suggested this morning not happened. Next event is share issue I'm afraid.

Maidit it's not huge news. It just means the stockpile is 200 tonnes that we were shown pictures of six months ago. Progress = zero

Nothing else was released in the RNS.

Yes correction on trucks it is six trucks.

Question wheres the money coming from to scale up as Helpful suggests. We will be bust by then and margins simply not there.

Terribly over blown hype on Lithium here.

More shares soon :)

Lithium ore prices about $500 a ton. So $80,000 the whole 200 tonnes

Only 47% of that is RRR's as we only own 47% of ALR

Margins based on First Equity figures are $50 a tonne ( £3m divided by 60,000 tones) so its worth $5,000 to RRR.

Also we have not reached critical mass to mean it makes a profit (fixed costs very high)

These are RRR's own figures re profitibility per tonne.

200 tonnes is a nothing burger

Just over a days production based on RRR's original plan on Page 2.

Since these NPV Lithium price is down 70%

Sorry but this is all smoke and mirrors and Helpful knows it - hence pivot to Bukino Faso

https://www.rrrplc.com/wp-content/uploads/2023/01/FEQ-Red-Rock-Resources-19-01-23-Buy-Note.pdf

Professor - The risked value of lithium ( risked being representing RRR share and mining transport port fees expenses etc) was £3m a year over 5 years for 60,0000 tonnes a year.

200 Tonnes is just over a day of planned production. The figures are RRRs own through there broker first equity ( I have posted many times) and since then prices have fallen. The 200 tonnes is a giveaway - no progress made. Remember this is ore not Lithium so sales price is 50 fold less than your quote. Awful RNS

200 tonnes is nothing. The original RRR broker plan for ALR for sale to local markets was 60,000 tonnes a year. 164 Tonnes a day !! EVEN THAT was only woth €3m a year with higher lithium prices.

The RNS is proof the stockpile is small 200 tonnes and no progress has been made. Its three trucks.

Speculative that's the sixth time the IPO has been threatened but never happened.

The reality is the asset is more or less worthless. They can neither sell it or persuade anyone to take a stake for an investment.

It's part of a rag bag of assets known with a degree of irony as steptoes yard.

You and Helpful like "it's not done until its done"

A far better slogan for RRR is "run by the few for the few". Watch out for the name Riversfort moving forward a key player in the "few" team.

Thanks Spec I think 0.12p which means to raise 500k. We will need to issue around 420m shares.

The latest CLN will kick in at a discount of 15% [ in the agreement terms ] so 225k to repay with interest = 230m shares. That is just repaying a loan not new cash . These guys have warrants of another 230m shares at 0.18p share in this example . So all headroom gone and 38% more shares for what ? half a million. The rollover CLNs will need another billion shares to settle them.

Bell has created a death spiral. History repeats itself. God knows what debt he's added through non disclosed loans but accounts will reveal all. Awful day for shareholders if that is all they have. No end to the dilution spiral only DRC will change that but wording between March and November asset review indicates no progress. Still it's all about Burkino Faso now the pivot is being worked.

Spec two issues. The placing price. I reckon .12p But the CLN guys get a 15% discount if they want it and can just take the cash. Accounts will reveal all but IMO the placing will be to Riversfort and they also happen to own the CLN and an asset charge. Very interesting few weeks. They need DRC desperately as ALR is I still can't beleive it 200 tonnes. Three trucks.

Spec change of language !!!

8th March 23 asset review. "The decision of the arbitrator has been received in draft and finalisation and a signature is awaited"

14th Nov " The release of the arbitration is now anticipated"

Twenty months ago it was imminent !!

No progress here.

This is it the final desperate hand has been revealed just to get away the share issue.

The bashers have called this every step of the way.

Shame it's in Burkino Faso where 100 people were killed last week and all diplomatic advice is not to travel. RRR and Helpful don't worry about trials like that. 8kg of samples and 200 ton stockpile that's all the dreams on ALR are about.

We will get an export licence all part of the ruse and then pivot away from ALR as fast as they can

200 tonnes - so we now know the size of the stockpile that has been kept from us.

In the broker note of 15th January we told First Equity our plan was to mine 60,000 tones per annum. 164 tonnes per day. This RNS is truly pathetic on ALR. 200 tonnes.

The better news is DRC which seems more promising in terms of language but Bell has been less than exact on his words many times. We know for sure ALR has been ramped out of all proportion. 200 tonne stockpile !!!

Burkino Faso is too dangerous to travel to so never mind speeding ticket RRR could be on a corporate manslaughter charge.

We have the name of Helpfuls solicitor. He told us. It's absolutely astonishing he's encouraging people on here. We all know if the news was any good it would be out by now in an RNS. Also he would not need to do the ramps so it's pants. The best they have is an export licence actually exporting is the problem. RRR smoke and mirrors. Helpful is bigging this up to get the next placing away. 38% more shares over a billion all to be issued soon to pay the debt ( that Helpful claims we don't have) known as CLNs.

Helpful needs to be really careful as an insider bigging up ALR.

I nearly chocked on my tea. No debt !!!

Only because no conventional bank will lend to us. We have £1.5m in CLNs that's debt and our secret arrangement with Riversfort through RRR coal secured on our assets which the annual accounting exercise reveals every year. No debt what a laugh. Helpful as ever is twisting ALR have no debt but RRR do.

Spec as an auditor myself.

In November 22 he told the Auditors RRR was a going concern as he would get Elephant and DRC money in the year to June 23.

In Nov 23 with Bell taking the same speil they have a duty of care to shareholders to seek lots more evidence. Elephant is immaterial and not sellable in six months. He will need to demonstrate DRC has moved on. You beleive it has I think it's dead and just like Greenland he's to embarrassed to admit it or it suits him not to. Nothing wrong here but a proven Bell characteristic. I'm very interested in how he handles the going concern representation this time. If the auditors qualify I think it could be used as a reason to suspend. The structure of RRR mean only the few gain on suspension which has allways been my point. Time will tell

Page 32 Spec Going concern exactly as I stated re board salaries and expected cash flow

Spec read the accounts properly . None so blind as those who don't want to see. Post page number later. You know I don't get the basics wrong.