Member Info for Banburyboy

Rate looks high - 18% APR including set up plus 18m warrents at 3.75p.

Lender can also convert loan at 3.75p.

I think we would all love conversion as it means SP well past 4p.

My calculations are full conversion would mean

£682k to the company as warrents on 18m exercised.

Dilution of just shy of 3% on shares in issue of 2.1bn. [ 56. 6m new shares] That is both from warrents AND $2m loan converted.

Small beer in the greater scheme of things so at face value expensive but impact seems minimal.

Just would not want this type of lending to become a habit !!

Seriously Helpful.

You may be right on ZPHR. Others might appreciate your insight on there as you have company knowledge from Rose days.

In some ways the risk reward is similer to RRR. Here it's Arbitration [ sorry don't buy housing] there its gas sales from Paradox.

Tom Winaforth has repeated his 20p target this morning. That's the equivalent of 0.4p here.

I'm with Tom and am happy with the balance of my portfolio between RRR and ZPHR :)

Pot calling the kettle black.

16,000 plus posts on a company you have called wrong since the day you arrived.

As I have told you for years. Whether you agree or not many on here percieve you do be an insider with conflicted interests.

It's held to a higher standard but at my audit committee as Chair I stood down officer's / members / officials for perceived as well as actual conflicts of interest. Its guided in the mandatory training for all senior officials, a standing item in the minutes [ in fact before the meetings to avoid embarrassing conflicts at meetings leaving the room] and in the AC handbook.

I have never come across anyone who so openly boasts of his interests in a company and so blatantly disregards the minimum requirements.

The onus is on RRR to warn you and Bell is allways keen to lawyer up. Perhaps he should start with you as if you "got it'" I for one would quit posting.

Yes I saw that Dogs.

The market not as impressed with the new CEO as our resident used car salesman.

Threats Hapless just a little bit of ironic humour.

I can't be boring all the time.

Water off a ducks back to an old slugger like you ? Anyway what do you make of blueboys enquiries ? Looks like i am the world's worst part qualified and you are a used car salesman who has fallen from grace . Well I never !!

Ask him if he's found the Lithium to ?

If this goes pear shaped we should perhaps have a pub group meeting in Manchester. Up for it Stephen ?

Papa - you really pee me off.

Ignore the noise and nonsense spouted on here !

The biggest spouter of noise by far on this board is you.

You are ruled by the moon. One day knocking six bells out of the company yourself. The next knocking six bells out of anyone else that does the same as you and queries the companies performance.

One rule for Papa one for everyone else.

I've stuck you on filter as I dont want the board to be clogged up but just try a little introspection please ?

The astute will have noticed the half year accounts RNS 30th September 25 said under the heading Balance Sheet.

On 23rd Sept 2025 FIBT completed its review of the non operated portfolio and reconfirmed the borrowing base as $22.1m.

This is actually very old news discussed in more detail.

Clearly was struggling on what to release.

I don't mean that negatively

It's not just documentation it's Paradox production .

I don't get why they can't update on the infrastructure that's not commercial in confidence.

So all wells linked to pipeline. Anticipated flow rates xxx. Now all they need regulatory approval documentation off take agreement etc.

I would love to know the position on infrastructure which is within their hands !

Helpful does that include the trucks from Falkirk and Barnsley [ who can forget that] the ship that sailed from South Africa !!

At best it's the spectrum gun which you and I had a debate about. And guess what that's not on FML balance sheet either

The camp the Indians all a distant mirage.

The company has abandoned Bibale IMO.

All the noise on Boulon has subsided to amid the great fanfare.

Remember how excited you got.

Hapless the used car salesman [ thanks Blue] reduced to Soma warrents and hits to the proactive interview.

Pickings are very slim

They have maxed out on RBL and the $2m new loan is not particularly attractive in terms of interest rate set up fees warrants and secured on inter company balances.

Anyone know what needs to happen to add Paradox to the borrowing base. I thought the CPR would be enough but clearly not.

I was absolutely bang on the money about the RBL.

CH at an interview back in May / June lied IMO through the pearly whites that the impairment was nothing to do with RBL but an accounting issue.

Sadly falling oil prices which triggered the impairment also hit the RBL criteria and but for the aquisition [ adding reserves] would have been in breach.

Far quicker to tell the truth in explaining the raise rather and use it soely to pay down debt. than the aquisition which is why everything is so badly delayed. They say the aquistion exceeds estimates but no numbers or context !

They messed up IMO and my confidence in their ability is quite badly shaken.

The less said about the $100m the better.

Looks like some promising news here and hopefully no more mistakes / missteps.

But have to say it as it is.

You would like to think it works that way Helpful.

Unfortunately you can only audit what is put in front of you. Bit like the Epstein stuff [ your mate Trump]

In addition this is RRR. All the lies about kit and productionn at Bilbale last year !!

ALR accounts are not audited as you know and have never included 200 tonnes of Lithium.

If it existed it would and should have been sold.

Bell would have told me and Dukey he would sue the both of us. Sadly the best he could do was say he would make enquiries and sue if had gone missing. Dukey should ask him if he's found it yet. That would be funny !!

That will be Black Dukey. The one who we were told by Helpful would be out in a few days a month or so back.

Be a year for the Estate of Black to exit at current rate.

Nothing to audit Hapless as you well know.

Not in the trial balance extended trial balance or SoFP.

It doesn't exist IMO. Really a matter for the company AC or independent Chairman. Whoops Calamity is all embracing poacher and gamekeeper on governance.

You tell me where it is in either ALRs or RRRs accounts ?

Calamity did himself no favours by suggesting to Dukey it did.

But you know all this. No one else is interested but you know its what and who RRR are !

Audits not so bad you get a sense of something not quite right.

Enjoy your evening.

I know about storage economics so backwardation and contango.

Very relevant to 200 tonnes of Lithium.

Wonder if Andrews established if its still in storage or if we are suing ?

Don't take this the wrong way ICE. But when you speak with your usual confidence and authority on something its usually wrong

I feel a little less comfortable with you on board and championing the no risk to 30p theory, but hope you are right this time.

Current Value minus 37 cents Hapless.

RRR would likely have no money to exercise them.

The clever money is on they didn't pay POW last Friday but I reckon you know that anyway as a CLN holder and company lender.

Blue Hapless has me down as chief liar.

Yet another example of the narcissists Trump wannabe deflection skills.