Member Info for Banburyboy

Speculative - that was a really excellent post. I know you and others are bullish and you may be right but a strategy and plan are absent.

If the Congo does come good it's so important Bell uses it wisely. He squandered all of our Jupiter shares which he said he would retain for the income. Still think DRC is dead but would be genuinely delighted for investorsand you if I'm wrong.

Thanks Mick. I thought like for like was a volume not a value measure. So inflation factored out.

Porridge - nice post Helpful is in denial of how much this has lost since he started tipping this. That's a very different thing to Speculative and Trader who see value at the bottom and are new . I call it / him shameless. He's pulling out Mount Mason and IDA too. If any of these old dogs had value they would have been sold my now.

Meanwhile we patiently await update on Zimbabwe and Tin Hill

Looks good to me.

Divi maintained and £25 buy back about 7% of company shares

At theses prices a forward looking return of over 15% per annum as we move into a period where interest rates and inflation move downwards. Happy with update and my holding.

Feels like 10% plus today

I'm about 15% down on my buy in price.

They look steady albeit unspectacular no debt and good divies.

I think the extra £10m on utility bills stuck out in the last update and I'm hoping they reveal costs were a fair bit less. Fingers crossed

Early Jan they guided EBITD at lower end of £6.7m to £10.5m.

The Market value is only £13m.

Anything to the mid higher end will support quick payment of debt and some handsome returns.

Key here is paying debt and avoiding share issues . If it can do both no reason why it can't hit the 20p share issue during covid in the future

Trade I may have missed it but do we know they are rolled over ?

Interest rate is reasonable at 12%.

If they are rolled I guess it's a vote of confidence by holders.

Yes Number 1.

I was surprised they announced they have not done it before and any bad news re covenants would have been released by now.

All competitors announcing good results City Spoons etc.

Peach is strong. If the core business does well debt is being paid down this will fly.

Strangely 40% [8p]from here only adds £6m to the market cap. Which would be supported by a £1m increase in EBIT&D.

I really think this is a good buy. Find out Wednesday.

Helpful you were posting the same about Mt Mason and Ida for the last ten years. Limon as well. Plates spinning jam tommorrow are you AB ?

Interest is in Zimbabwe and DRC I'm afraid.

Thanks trade my wording was clumsy. As you say not fund raises but 17 separately defined events / annoucments which increased the share count. No events like a buy back that reduced it.

Time will tell what comes first more shares or some income. Glad you are happy with the risk.

Trade there is a great recent article by the Armchair trader. Entitled is RRR confusing activity with productivity ?

Some snippets

Loss for Year end 30th June 22 £2.8m and 30th June 21 £1.7m.

Bell did remind shareholders " the nature of red rocks business currently as a company not generatingrevenue from operations means profit and loss is a metric of less utility than other business"

31st Dec 22 half year he said. "The figures are not materially changed from the previous year OTHER than an increase in current liabilities as the company sought to avoid dilution.

Two observations

- cash burn is huge.

- limited disclosure in interim accounts but a hugely chunky liabilities figure. No way has it all gone.

End game I'm afraid is unless we get income soon - dilution and fund raise during August early September.

Zumore the short version of your research concludes like me. "Congo claim is dead !!"

Possibly AB is in DRC for RRR other interests but keeping claim spinning suits the narrative

Yes the hype boosts SP for those in the know to escape leaving the likes of poor old Maqsood out of pocket. Bless him the blinkers are on tightly.

Interesting if Helpful is who others say he is as well as holding 10% of ALR he also has a significant shareholding in EO. Surprised he is not bigging up our £1 -2m stake in EO which I felt could be "hocked" to avoid a fund raise.

I genuinely thought we would have near term income from Zimb to fund ABs wages flights and development of Lth asset. I'm really not sure now.

The moral case is clear and a hugely valuable asset woth $400m has slipped through RRRs hands.

I don't think I can criticise AB for that as it was hard to forsee. But there is a delicious irony of him of Greenland / Eschew / Cyprus dodgy dealings getting a dose of his own medicine.

With DRC dead, Elephant and Limon way down the road. Without income from Lithium as promised a fund raise seems inevitable

Duke strangely what you see as optimism I used a while ago to conclude DRC is dead.

The company with the money Gecamines are Congo government owned and are waiting for the courts in the same Congo to tell them who to pay. !!! The presidence has been set by the court ruling on the $5m so it's a 50 : 50 split. The inability to either proceed with enforcement on the $5m or more importantly applying the same 50 : 50 terms on the $15m 18 months after it was described as imminent should send alarm bells to all holders. The longer this continues the less interested any players are. This is just lined up for Gemacines the DRC government to keep the $15m . The $5m case involved money paid to VUP and DRC have no fiduciary interest.

Sorry but all sounds Orwellian and dead to me. Andrew is keeping it spinning to periodically boost the SP.

What's your feeling for Tuesday Culpepper ?

Pumpky no room in escrow it's full to the rafters with Greenland cash.

To be fair JR give it a week or until AB leaves.

He will spin any peice of news as significant progress if he can. If no update I do think it confirms game over re DRC.

In the interest of balance the company might do well on Lithium in Zimbabwe . The mood music of some of the company's supporters is not great on DRC. Only maqsood ( bless) sees DRC as a golden ticket. But never say never and let's see what his visit brings

Love it Zumore.

Clearly leading the high life off an 80 fold reduction in his companies value.

Trade as I say many times you may be right. What is dead as I've said for six months is DRC. It's the Cyprus Bank of the 2020s.

For those that don't know Andrew sold an investment in Greenland for a significant sum. The cash got lot in the Cypriot banking system. The stuff of legends. No official paperwork or third party evidence of anything re RRR in DRC. I worry for SH on the plus side you have got in low so we'll done

Trade - they've done 17 raises in the last year. With respect there may be lots in the Zimbabwe assets but Andrew is profligate with SH funds.

With no promised Tin Hill income, DRC in my opinion remote but kept spinning to excite young Maqsood. A fund raise is due.

Bell hides liabilities for a living. The full year accounts year end 30th June will reveal all and if I'm right ( DRC is dead and Zimb jam tommorrow) they will be delayed as long as possible to hide the balance sheet notes ( the meat)

I could of course be wrong and DRC will land tommorrow. If there was any chance of that the claim would have been sold / factored long ago. Andrews in Congo IMO on something else as we have other assets. He returns soon. No news soon will tell us all what we need on DRC.

The Zimbabwe assets sound good but wrong leader at the helm as even Helpful has conceded the Bell effect.