Member Info for Banburyboy

Stephano !

What do you make of Bells £1.5m offer for 49% of NBGC ?

Both at the time and in hindsight ?

Just interested.

Hapless the examples of RRR failure are the stuff of legends.

- 190bn shares adjusting for 25 to 1 consolidation.

- Still £4m of CLNs even against that back drop.

- some loans at 0.5% a day interest plus 25% arrangement fee.

- Lithium exports the less said the better.

- Faso nonsense all through 2024. We now find they had no equipment to deliver any of the promised targets.

- imminent new definition at DRC.

- the continued presence of a resident insider.

- POW deal shocking timing and questionable value.

You will not debate one of these company specific comments but thrust Soma links plus neighbours and Commodity prices relentlessly down everyone's throat.

You now say I'm woke !!

Stephen you are in denial about your own and the companies dismal RRRs track record.

Bolitho and Topham must be laughing every time they see you.

There can be no worst investment advisor in the country.

Https://www.lse.co.uk/rns/ZPHR/new-strategic-partnership-to-provide-up-to-us100m-1uvq01wbz0uphlw.html

My mistake we are exactly 3 months through the 6 month window during which value added opportunities will be presented to Investors.

I share manys sentiment here.

News / progress is well overdue.

They over extended on debt and falling POO forced there hand on Reserve Based lending.

That led to a placing and aquisition which IMO was not a strategy but a reaction to over extending on debt.

I seem to recollect a 3 month deadline on the fabled $100m. The $100m no one really understands.

Remain invested and hopeful but don't get the rose tinted postings on here.

Https://www.lse.co.uk/rns/RRR/conditional-agreement-australian-gold-subsidiary-1u4vtuo5srgt5yb.html

On 13th March 24. When RRR had 3.5bn shares in issue , I think it's fair to say Bell shocked shareholders by offering £1.5m for a 49% minority interest in NBGC.

£500k of the consideration was back ended on JORC etc but where would he get the 900k from ?

DRC he said.

That did not turn out well !!

Now we are subject to a winding up petition if he does not pay what he can't.

How will he pay ? Soma royalties not available by then. Cote sale very risky and not on time.

Most likely circa 2billion shares at 0.02p.

Please note when he announced this ridiculous deal the share count was 3.5bn.

Issuing 2bn of shares for 200k of 1.5m sale [14%] of total consideration is the equivalent of giving away 50% of all of all pre transaction RRR for just 14% of the 49% of NBGC we don't own.

Complicated but do the maths.

The deal was poorly timed and executed and compounded the serious funding issues RRR allready has.

IMO but really is uninvestable.

Dogs Hapless doesn't do accurate predictions.

Big week this week.

He's called Soma production start weekly since May.

Https://find-and-update.company-information.service.gov.uk/company/14231987/filing-history

African Lithium Resources Accounts posted April 25 for period 1st August 23 to 31st July 24.

Some detail provided.

But guess what ?

No purchase of Lithium shown.

The Lithium purchased in late 23 and exported in November 23. Five Chinese buyers lined up. Bell set up the task force.

Nothing in stock. Nothing in assets held for resale.

Only buildings and intangible licences purchased in the year for circa 180k.

Looks like Bell and 10% ALR holder Hapless have lost 200 tonnes. Incredulous !!

Still Bell says he is checking the inventory and will sue if its missing.

Hapless I'm sure will check to.

Now that Hapless is comedy gold.

He posts every link imaginable here.

Sadly he ignores debt finance charges and CLNs £4m as it doesn't fit his ramping narrative.

Looks like Hapless will be at the helm when RRR is a thing of the past.

For the sake of LTHs I would love him to right just the once on a company changing announcement / news. Preferably an SP of 0.08p and /or £4m from DRC.

I can then hang up my boots and say I was wrong.

Hapless Stephen could anything happen where you concede you really called it wrong ? Or are you here to the very end ?.

Same today as before 5th August RNS.

Looks like ramp failed.

Market wants to see the company ACTUALLY deliver something / anything rather than threatening or planning delivery.

Confidence / trust very low / zero IMO

Time we sold our 200 tonnes of Lithium Hapless.

Purchased at great expense on the open market.

Has Bell checked the inventory yet.

Someone ought to check in with the auditors. Thus snd the £1.5m Greenland creditor that come out the blue a few weeks back !!!

Dukey the filter button is made for Nike who will go down with the ship.

DRC getting quieter. No mention of our best mates the President snd his Mum. Looked like out of desperation AB has brought a number of bum steers from DRC.

No slithering will go down in folklore !!

Lundy xnd Bell heading for the rocks :)

The whole point is FASO is not a listed company.

You hold unlisted shares in your own name in material amounts

That's a completely different thing to RRR shareholders like Nike owning FML.indirectly through their listed investment in RRR.

Now we are getting to the point !!!

FML has two shares.

Lundy owns one and RRR the other.

Or you tell us ?

Https://find-and-update.company-information.service.gov.uk/company/13470424/filing-history

FASO minerals limited has two issued shares.

Do you own 50% or 100% Stephen ?

Dangerous game hyping shares you so obviously have an interest in.

Hapless sweating !!

Nervous about being found pre announcing market sensitive information.

Him being a shareholder in FASO.

BUMIGEB Hapless ?

Cote production in 2024. Even you fell off your chair when I presented that back to you:) . You know. So much nonsense you can't keep up.

You were bigging up Cote well before the 21st July.

A cynic might suggest you were front and centre of the communication ?

If you refrained from posting RRR would be far better off.

Most on here consider you an insider and post because you do.

It's over two years since I concluded DRC was dead despite all the rhetoric.

Sounds like all our eggs are in a supreme Court judgment and publication basket now.

Even if we achieve that, I can't help thinking the process after that to award and remittance / repatriation will be lengthy.

The Soma production has still not been announced and the November payment - based on a royalty from production to 30th September is getting smaller and smaller [ Hapless does not tell you this ].

The quarter to Dec 31st is due February.

So six - seven months of burning 250k cash a month. Source accounts. Means two thirds of the TOTAL royalty is needed to stand still.

Do the maths Hapless feels to little to late to me .

PS no slithering .

Spec in Jan 24 gold was less than €2,000. They said this re third parties and buyer interest then in Jan 24.

Not a peek out of Cote in the next 18months barring a missing Termite sample and fast tracked payment [ RNS 18th October].

Oh stupid me we announced in October and again in November 24 we would produce gold from Cote by the end of 2024 !! In hindsight how was that possible ?

FASO is just nonsense and discredited evidenced by a load of ridiculous failed RNSs.

Threatened sale of FASO never happened and was rapidly losing its gloss.

Cue Hapless ramping about DCI being hot !! Cue him saying a licence sale and hey presto guess what.

It might happen and I could be wrong.

But seriously has anything this company has said in the time you have been posting actually happened ?

The form book and evidence says keep your glass half empty with this one.

Worryingly DRC quiet.

Supreme Court judge still.on his holidays

Https://www.lse.co.uk/rns/RRR/central-and-west-african-assets-syfu3g9zkshfppl.html

You are completely right Dukey. They were selling Cote licences in Jan 24. Same time as Lithium ramping up.

They have promised a sale or production at every location for years now.

As you say they have cried wolf so many times no one IMO believes it.

Hapless.

That boom has passed RRR by.

Company specific reasons.

Too much debt, interest charges and CLNs and a particularly poor record of delivery and too many failures.

But others can DYOR and IMO.

Strong Sell IMO

Dogs it's keystone cops.

1- original photos were of two guys with picks. At the time we were saying how unprofessional it all was.

2. The insider let's the cat out of the bag with BUMIGEB before the last RNS.

3. The company now covering its tracks with BUMIGEB staff photos after the event.

Is there nothing this company can ever get right it's mind boggling.

Remember all the hype / nonsense last year was at BIBALLE.

That's all been forgotten. A cynic would suggest nothing happened, there and it's all about BOULON now.

Forgotten too is lots of RNS interest in FASO. Famously transaction or transactions. Again all forgotten.

And of course a pivot to somewhere else. Not one not two but three buyers competing over RRR COTE licence. Perhaps three of the five Lithium buyers have come forward ?

DRC looks like it's in the long grass.

No slithering Hapless, another failed ramp you are front and centre to :)