Member Info for Banburyboy

Helpful

Until recently RRR did the right thing and gave detailed SH information on the roughly 600k of CLNs it had. See the attached RNS.

Surreptitiously IMO and with no RNS they converted a further £3m to CLNs. Its probably closer to £5m now based on accrued interest.

How do we know ? It's in the Half year report Note 11.

They left it IMO until the auditors left as they were never going to reveal the terms which the auditors would have made them do.

Why the secrecy and lack of transparency ?

Could it be the terms are onerous ? 34% blended rate is better than the 12% you got a year ago in this RNS

!!Just like the 0.5% interest per day is onerous [ again facts in the accounts]

So with likely onerous terms and with a financial advantage to holders to convert low or do nothing you tell us they want to convert at higher prices !!

Give that little Mancunian head a wobble fella.

https://www.lse.co.uk/rns/RRR/convertible-loan-note-issue-first-tranche-closing-qzek6lc9l9n9n0d.html

Hapless

" if the holders of the loans want repaying why have they not done anything about it"

Answer.

- RRR has no money

- HNW, are converting accrued interest at a rate of knots [ implied interest rate [ from Note 11 half year reporg ] is 34%. 430k interest added to CLNs in six months !! Why would they !

- it does not suit their purposes

You said they wanted to convert at a higher price.

You can't possibly know that.

It's a fact that the lower the price they convert the more of the company they control and remember its your words RRR is worth telephone numbers.

You are good at dishing it out but you have just made up a a statement CLN holders want to convert at a higher price !!

Why in my opinion because you are an insider who does not want the gravy train to end for you or your clients. That is a personal view but you have told us you are a CLN holder and you really should not be posting as you have an inside interest.

Even more of a beauty as Hapless made the mistake of copying it here

" and why would an Australian company be transferring cash to RRR".

He posted alongside.

Hapless " You are a CLN holder and you have just stated on the board " repayment of loans is the last thing CLN holders want"

Very injudiciuos statement and probably market sensitive if anyone took it literally and believed it

Have a natter with Foxy at Ralli [ that's his solicitor] . I think he would say Banbury has a point.

So back to basics Helpful.

It's a fact we had nearly £4m of CLNs at 31st December. It's in the accounts or have I made it up ?

You said [ don't detract to Brave Mark] " repayment of loans is the last thing wealthy individuals want. In making that statement were you speaking

1 - for yourself as a CLN holder ?

2 - your clients ?

3 - other or all CLN holders ?

I suspect possibly (1) but the rest you just made it up.

Imagine if I did that lieing. You know how aireated you would get !

Anyway my little cute Mancunian places to go people to see.

It's hardly waterboarding. Just a simple question to hold you to account as you do get carried away far too often.

Zzzzzz

Amongst all the normal dross two illuminating comments today from the Big bulls Brave Mark [ 10.24) and Hapless [10.37]

Mark - "this company is supported by very wealthy individuals who want serious returns, not 10% returns."

I could not agree more with Mark

Hapless " As to the wealthier individuals, repayment of loans is the last thing they want. They want to convert when the price is much higher. "

Let's disect that.

Hapless is a CLN holder in his own right and has in the past represented Mr Topham. He may well still do. He has told us this Is Hapless talking for himself , his clients or all CLN holders ? That's why many including I think he's an insider.

If the company is that good why wait why not convert now at the low price and take the whole company ?

. Sadly we don't know the terms of the CLNs as the company has not had the courtesy or transparency to RNS it. All we know is there were nearly £4m of CLNs at 31st December 24 as its in the half year accounts.

None of us me Helpful Brave Mark Blue Dukey can guess what will happen next.

The simple fact is that Bell with zero or no transparency has borrowed from major share holders and converted in a rather underhand way [IMO] that debt to CLN has put RRR at great risk of reverting to the lenders in a debt for equity swap.

New investors need to balance that risk against the fact wealthy investor will act fair and continue to have faith in the company as Hapless suggests

Some will take Hapless,s word others will take a more street savy view like me.

An interesting dilemma but one all SHs should consider with a very open mind.

Blue - He's on permanent filter, but I'm astonished. Nike is suggesting anyone on RRR has made a profit.

If that was anyone else, the thought police would be ranting LIAR. LIAR.

So Nike, anyone holding 1 million shares in 2015 would only have 25,000 shares now.

It's not difficult, but when the entire purpose of your life is to contort yourself to show RRR in a positive light, you are attempting the impossible.

You should know that by now.

Conjecture on my part Dogs [ as the thought police are out in force ] but they could have mitigated their losses by selling into the rises and picking up the many placings RRR does at a much lower SP.

Perish the thought !!!

Helpful quick pivot from liar to hypocrisy.

Could it be that every statement I made is a fact backed up by RRRs own accounts ?

That's incorrect Mark

The risks I raise are live and relevant.

I long for the day this company succeeds and I have never said otherwise.

I have even said I will not post again if

1 - the company gets more than £4m from DRC.

2 - it's share price hits 0.08p for three days in a row lowered from 0.12p.

I said that nearly two years ago and stand by it.

Do I want it to succeed yes.

Do I think it will succeed No.

The Bullying here is getting quite bad. Helpful bringing up Gary Carp etc.

Dukey seems to have bitten the dust which surprises me.

Anyway let's hope you and Dicko are right about the news rich period.

Helpful

"As for wealthy individuals repayment of loans is the last thing they want. They want to convert when the price is much higher".

Agreed

Why convert when some of the interest is 0.5% per day with a 25% arrangement fee [ source annual accounts]

Also the composite APR on £4m of CLNs is around 34%. [Source half year report]

Most conversions to date are lower than the SP and involve one to one warrants [ source RNS from the company].

As previous an Investor would need to be pretty sure our rich investors objectives align with the small guys.

Looks like Dukey has dissapeared. I wonder why ?

Brave Mark

This company is supported by very wealthy individuals !

Agreed I have allways refered to them as the few.

I do worry about transparency of those individuals like holdings RNSs for frequent share issues or , CLN terms as the accounts show a huge increase in CLNs but with no RNS.

Let's hope the rich individuals who hold the majority of shares and debt have objectives that are fully aligned to long suffering small shareholders.

The risk is they put there own interests first ?

I would rate that risk as quite high.

Cash burn is 300k a month and 134k of that finance charges [ source half year accounts] on top of the PoW money means 500k plus needed for September.

Given authority was given for additional shares at the AGM would you consider a risk of additional shares being issued ?

Mark

This is not waterboarding as described by some on here but factual context.

- Soma royalties are not due until November. Ultimately they could forward sell the entire receivable but are they cutting it fine ?

- The last update from Bell was Thursday 4th September morning a payment was stuck at ANZ.

Let's hope its sufficient and in time to avoid a placing and default.

All the best.

Dicko80 - Despite using a thread entitled "information from the AGM" with a list as long as your arm of ifs and maybes all positive still refuses to say if he was at the AGM.

Draw your own conclusions.

I prefer real facts based on the company and its accounts / RNSs

1 - £10-12m of debt and trade creditors.

2 134k a month of finance charges. Some of the debt has a DAILY interest rate of 0.5%.

3. Nearly £4m of CLNs. £3m of which the company has never got round to telling us about.

4- ten years of relentless share decline. 7 billion shares in issue and a poor record of getting anything over the line. No promised Lithium exports, gold production at faso, DRC arbitration resolution or as yet asset sales which will address debt or finance charges.

Any news flow would have to be very rich to mitigate the risks above.

So Dicko you say news today. Let's hope its good.

DYOR

Thank you Mikey.

That's good enough for me.

Good luck with the imminent news

Small correction my problem which I think you will gather is the resident insider.

Maybe if he was encouraged not to post the board would be quieter:)

Helpful, how could you know that?

You don't know me at all.

Do you not think I get bored correcting and warning about the "scum" that is you. I'm sorry but that is who and what you are. Insider spent seven years encouraging posters to lose money.

Nothing can change what the outturn is here one of us will be right, but most who have invested on your ramping will never get their money back.

You are a disgrace.

Sadly you don't care and this post will be water off a ducks back.

Is it coincidence PoW money due next week and rampers out in force this week ?

My opinion only buy the higher they can ramp the price the higher the placing.

I truly hope I'm wrong. The £7m arbitration or any asset sale of any magnitude with a clear unambiguous statement that cash has been received will make me look pretty stupid.

The normal fluff and ambiguity with make Hapless / Dicko look similar.

Let's hope for all holders I look stupid.

Looks like another ramp

The sad reality is we're there any news of substance the few [ CLN holders] would buy in droves and push this up to say 0.05p to covert at 0.035p.

There is no news or it will be underwhelming so Hapless and Dicko [ not sure they need a tandem !!!] peddling to short change a few newbies here.

Bring on tommorrows and the underwhelming news

Stephen - deflecting again.

1 - I have always thought you were Dicko. I'm now convinced.

2 - I thought you could be Bravemark - juries out on that.

Exaggerating as per usual. That's the sum of Haplass aliases.

It's pretty clear you will go to any length to promote this dog.

It's funny when you mess up like posting Bells tweet on ANZ or revealing you are Dicko

News rich period !!

As ever we wait.

It will be the normal nonsense, and sadly you know it.