Member Info for briarbank

RRR running on magic/fairy dust. You counter claimned that AB was selling assests JMS, POW ETC to avoid share dilution......You don't nor do I. But any assest can only be sold once............Migori ; You said AB got a JV lined up. He has said that many times about other projects, eg Greenland, Which turned out to be a fairy tail.

Helpful.................Sad really that I am still lingering/watching.
But I made an important point, ca. RRR HAS TO GENERATE CASH TO SURVIVE
BY BORROWING, ISSUING MORE SHARES ETC................
BUT ITS NOT. anyway not for a long time. Actually 11 MAY , AND THAT WAS FREE SHARES FOR RRR STAFF/BOARD. Renewal of CLN's Nov. 2019....So Helpul apart from the JMS DIVI.....................HOW? It's MAGIC..............

AB 's Performance option award. Thats more like AB's track record. THis is a first, he usually only awards the directors and staff more "incentive" free shares every April.
When I saw a new RNS TODAY................I assumed it would announce further equity raising. It did but only for the Board members.

AB is running RRR (Admin, wages, court and solicitor/barrister fees, licence app fees,CFD'S interest etc.) on MAGIC, Fairy dust etc
Why can In write that flippant/silly remark above?

Because for years now, he has issued more shares (dilution) every few weeks without exception. Or he borrows cash from various City institutions at really really high interest rates. eg. 14% + . Or selling JMS shares. AB had > 4% now less than 0.85%
It got so bad that AB DID A CONSOLIDATION
Giving 1 "new" share for every 25 held.

Yes zumore, I sold two soon. Of course I regret it. But knowing RRR very well, I am surprised the SP is as high as it is now.
Knowing or should I say the inevitable share dilution to raise cash.

JMS divi's are useful income. BUT thats it, does not cover Admin. costs even.

EL Limon royalty's have been poor for 3 years now despite change in owners Soma from Para.

AB cash for Admin/wages Ca. £48k monthly.
NOW further Migori exploration with or without a JV. 3yr licence costs. ca. £3.5m to pay out previous owner MMM
Within weeks before first drill hole.
What RRR really really want is a mining license. But to build a mine from scratch costs £m's even with a JV.

Australia Licences applied for. May even get them, but licence app. and geting them costs cash.
DRC exploration needs cash................

RRR owes bond holders, paying 12%pa. In the 3rd year of rollover.................and warrants to buy 20% share capital at 0.6p
RRR PAYS 1% CASH EVERY MONTH.................

All in all, if any body disputes that RRR MUST RAISE £m's Creates more shares at a discount . He won't want to borrow cash from banks. Too expensive. I mean who is having to pay 12% interest , with bank rate at 0.25%
For eample my son just renewed his £350k mortgage at 1.55% fixed for 5 years with LLoyds.

CASH NEEDED...................GUESS WHO PAYS THE PIPER.

i note ref. RNS 17Aug that these Exploration licences are only for 3 years. This means having to pay all legal fees and previous partner MMM £2.5m and more . Another £1m more .(not sure exactly how much 2nd payment. BUT RRR dont really need to just spend more on exploration. RRR have already spent over £10m on exploration to JORC. standard.
Becoming a income producing mine, should be the priority, at Nyanza or extracting gold from Macalder tailings. BUT THIS IS GOING TO COST £Millions to build extraction infrastructure, with or without a JV. RRR paid $5.5m to get a 50.1% stake in El limon, and more. Another disaster even after building a 7th tunnel. At least Nyanza could be open cast. AND MORE IMPORTANTLY, NO MINING LICENSE HAS BEEN OBTAINED.
So Migori exxpenditure only...................no income.

There was doubt if there was ever a oligach. AB'imagination. As never any details of who it was. Just offshore company's, from Caribbean.

Cypriot bank cash? Greenland sale cash from east european oligarch.
I t was never RRR's cash, until sale finalised. IT NEVER WAS

I think on reflection that RRR didn't renew licences and ALBA bought them. I could be wrong about ALBA but it definately was another AIM Co. which bought exploration licencs and RRR inerests. Just think of the costs involved for a "camp clean up" in environmental sensitive area.

RRR has no interest now in Melville Bugt..............sold for £1. This included mothballed camp, tents and all exploration infrastructure . RRR was on site for 2 seasons. AB tried to sell part interest to a east european oligarch. Another AIM Co has the rights to all data including a JORC.

Magic you infer Covid helped RRR 's SP. I o not see the connection myself.

Any way this share chat has Migori licenses being returned. But because of Config, Gold miners working in Migori regon are shut down, by Kenyan Gov. All on a Care and maintainance. eg. Kilimapesa

As a new share holder, I am finding it's very quiet for GDP chat. Any reason for this?

As a very long time holder of RRR, AND NOW OUT. I only left because apart from Jupiter's and POW , both of which he is a dirctor in both, so conflict of interest. The only way is SP dilution, AB is a past master of that.
Migori is a lost cause, Victoria permits probable, but £m's have to be raised/spent doing exploration to JORC,next build the infrastructure...................El limon comes to mind, and that was £m's to update/build another tunnel............extraction, filtration tanks etc.

So please someone tell me the facts/logic/reasoning , why SP has gone up 5x since march?

Ballarat gold mine despite prod. 40k oz Au per year. It still needs to raise equity by stock dilution

https://www.bing.com/search?q=cgt+asx+shares&cvid=170761ce58874b3ba76622ed929a8f3d&pglt=299&FORM=ANNTA1&PC=U531

MAGIC , although you have stalked RRR , factually i CAN'T FAULT YOU. ref. your 12.35 post I really really wish I had taken your advice years ago and jumped the RRR ship. To be fair to AB he has really tried his best, but whatever he touches has ended in disaster. Just bad luck.
And as far as raising cash, without raising equity (on top of warrents) he is a director of JMS and POW, so highly unlikely to sell more of JMS. He has sold ca. 80% of JMS stock, 14m of stock sold for just 7c. to raise cash for Office costs RNS 17 Oct. 2012.

Thanks Magic, I to have never seen a RRR spelling ou clearly that Exploration or MINING had been granted to RRR, since it was revocked in 2015.
As said it was and is politics that pulled the plug. The local MP took a dislike to AB . The locals were doing their own illegal mining. Blind eye and all that.

Macalder tailings licences? Helpful ;- I don't remember seeing the licenses for exploration and mining being RE-issued.
Please show me the relevant RNS.

Macalder tailings...................5 years on, still waitng

https://www.miningreview.com/gold/goldplat-signs-binding-term-sheet-for-sale-of-kilimapesa/

I am new here. So old news for you'
I am from RRR , SP up but no tangible assets there except JMS Mn miner in SA.
You have 2 profitable mines. Your Kenyan mine was a drag on overall profitability.

http://www.goldplat.com/projects/kilimapesa-gold-kenya-core-and-maintenance