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Banbury, you should not be posting because you embarrass yourself each time.

Just look at your post: in one line you are saying that the DRC settlement is imminent and then it will be a miracle if we get the settlement. It cannot be both.

AB has said several times that the Arbitration is agreed and he is waiting on the paperwork. I said no matter how close it is, it ain't done till it is done. He has even signed the Arbitration paperwork at least once. How close is it when he signs the paperwork, flies back and says it is done only to find out that it is not?

The issue in DRC is not getting agreement or the award; that appears to have been in place for some time but for whatever reason the required paperwork has not, to date, been forthcoming. Regardless of what anyone says or does, until RRR has the Arbitration Court award paperwork in its possession, signed, notarised and recorded as a Government document then it ain't done. For instance, it being signed and on the Chief of Staff's is no use to RRR.

You have severe cognitive dissonance. I suggest you go get a cup of tea and have a lie down.

xx

Lomax is a nut case who makes stuff up.

Maybe the DRC money is not mentioned because it is price sensitive? AB has said for weeks that it is imminent and that he is just waiting on the paperwork, what more do you want? He can't announce anything till he has the paperwork and regardless of how close it is, until he actually has the document(s) nothing has changed.

He is also a misery guts socialist.

DYOR

Amadan, and your number would be?

*potential JV partner

Lomax you are a pl*nker; you have nothing useful to say.

If you bothered to switch your brain on, you would realise I stand to make far more on ALR than I do in RRR. IMHO ALR is worth a multiple of RRR's market cap, why would I want to sell RRR at 0.2p?

You keep on worrying about deramping so you can get your entry price and trade for your 15% upside on £2k. I am here for different numbers.

This potential JV partner sent a senior geologist over for site visits: so ALR will now have a second opinion on the lithium ore in place. The JV should have the sample results back about now. So ALR will have the results from its own sampling and the new sampling.

Maybe ALR is getting closer to being able to say what it thinks it has?

Good luck with your 15%. £300 probably goes a long way in Glasgow.

DYOR

Points to be taken from the RNS

"procuring of export licences, and establishment of sales channels"

This can only mean that ALR now intends to establish an Approved Processing Plant (APP).

The law in Zim now requires that miners only sell to an APP and only an APP can sell into the wider market, includng export.

Having an APP opens up new opportunities: the first one is buying supply from miners who don't have an APP and then taking a turn on selling the supply on; the second is that not having an APP means reduced revenues for a miner and it might be that they want to sell out; thirdly, some miners with licences not brought into production will to sell them on rather than go to the trouble of procuring and operating an APP; fourthly, it should reduce the illegal miners.

"a potential contract miner/partner has sent an experienced South African consultant geologist who from 10th to 14th August with ALR personnel conducted due diligence at ALR's locations in Zimbabwe."

1. As I have said, multiple sites not just one.

2. Why would a potential contract miner/partner go to the trouble of sending a senior geologist to look at our sites?

3. Why would Chinese agents want to talk about 5k tonnes pm of 2% spodumene? Surely that quantum is de minimis and not worth talking about?

4. Presumably, we wouldn't be in discussions if the "senior geologist" thought what we had was dross.

RRR has previously disclosed that NDAs (plural) had been signed with third parties. That was a while back; it appears that this potential partner is new. Could it be that RRR/ALR has something worth looking at?

Options:

1. Newco comes in and does the contract mining

2. Newco comes in does the contract mining and invests in ALR

3. Newco comes into a full JV, funds any CAPEX and operates the sites for ALR

Issues

So the plan is now multiple sites in production likely with Newco doing the contract mining maybe as a partner or maybe not with the product going for export.

What will the JV deal value ALR at? $10m/$20m/$30mil? How much will existing investors get diluted? Any deal gives a read across for the valuation of RRR's holding.

Maybe a good time to go back and reread the First Equity report about ALR? Maybe apply FEQ's modelling across the multiple sites instead of just one site.

I expect more announcements will result from the site visits in due course.

DYOR

On the pop or do we have to wait for your inebriated pearls?

When are doing this beer thing?

xx

Https://www.vastplc.com/wp-content/uploads/2019/03/admission_document1.pdf

Dirk Benade, Senior Geologist, aged 57 Dirk Benade has 33 years’ mining geology experience on 49 mines in Zimbabwe in both underground and open pit operations mining or exploring for copper, gold, chrome and tungsten. Dirk Benade also has three years’ experience in Australia exploring for copper, gold, uranium, tungsten and coal. As a partner in a private company he was instrumental in building a wellestablished analytical laboratory in the Midlands area of Zimbabwe. He has worked for, among others, Utah Development

Company (now BHP-Utah ) Anglo American, Messina Transvaal Development and Falcon Mines, and latterly spent ten years PROOF 6: DATED 26.05.06

21

AFRICAN CONSOLIDATED RESOURCES PLC

with AIM-listed African Gold plc, rising to Managing Director. He is fluent in the indigenous languages of Zimbabwe. He currently acts as senior geologist for the Group.

Cue all the trolls claiming he is a school boy and an idiot.

DYOR

ALR is a business and things change. It has to move and adapt when the real environment changes.

Chinese offtake. A Chinese offtaker is not interested in 2% grade spodumene at 5k tonnes per months. They want a bigger operation.

It has been obvious for a while but the people who know everything because they lost money 10 years ago know better.

Dirk Benade is not involved for 5k tonnes pm of 2% spodumene.

Look up diamonds, Vast Resources and Benade: interesting.

DYOR

It is to do with physicality. Look at what Prem is looking to do. Prem have got themselves into a situation where it is less about mining and more about engineering. They are not the only ones. Different skill sets. Large volumes on one site involve multiple feed trains and transportation theory. Look it up. As you increase volume on one site it becomes less and less about mining and more about engineering and operations.

IMHO not skill sets that RRR/ALR have: they need to do a deal with someone who those skill sets.

So the choice is low volume, low skill sets or ramp it up like Prem and the others. My choice is something intermediate but not my call.

My choice would be just get it up and running and the have a look at it again.

DYOR

It is from the First Equity Report

Indeedy.

Tin Hill

"ALR has acquired 51 ha of lithium claims 29 km NW of Bikita in SE Zimbabwe at Tin Hill, and is in the process of transferring title."

"A new 125 ha application near Arcturus, a mining site 32km E of Harare in Zimbabwe has been approved for grant with a further application nearby in process"

"A 107 ha application near Bikita has been made and another property with high grades from our sampling has been identified for purchase."

Those are in addition to the other grants. It is not hard really.

DYOR

The First Equity valuation is based solely on Tin Hill, it acknowledges the other applications/transfers but includes them at zero. Until recently Tin Hill was the only license that was granted and in our name.

So all of FEQ's numbers were based on Tin Hill at 51 hectares. So to be 6x on the valuation then we would need 6x51 hectares of broadly similar ground. 6X51hectares is 306 hectares.

If you read the RNSs we have well over 306 hectares.

DYOR

And you are a demonstrated moron.

In the posts, I linked the relevant RNSs and I cut and pasted the relevant parts that give the acreages (hectares being a SI unit of acreage). Those RNSs exclude Beatrice.

You quite obviously don't read anything or you do and don't understand what you are reading.

The FEQ valuation of ALR was based solely on Tin Hill and selling 2% ore to the local market.

That RNS now states that they are going to ignore the local market and go solely for export. Another value add to the valuation model.

DYOR

Decent update.

Suck on that trolls.

PS

So the FEQ analysis was based on 51 hectares at Tin Hill only. 6x would would 306 hectares in total. Read the RNS's those two RNSs exclude Beatrice.

DYOR

Speccy, maybe you have english as a second language?

Commenting on ALR is exactly that, commenting on ALR. RRR has a holding in ALR. That holding is most likely worth a multiple of RRR's MC. The analysis was all to do with ALR.

As to the acreage, trying reading the f**king RNSs, genius.

https://www.londonstockexchange.com/news-article/RRR/lithium-update-zimbabwe/16025330

"A Certificate of Registration was last week issued in relation to the Company's application through its local subsidiary for a new lithium licence near Bikita, giving the Company a licence covering 94 hectares. Certificates for two small extension applications adding 45 hectares to the core licence in this area were also recently granted. Also near Bikita, adjacent to a purchased area where transfer is in process, registration of two small extension licence areas of 21 ha and 22 ha was recently granted."

Also listen to the various interviews he has given.

Squawking about inside information is ridiculous, when really what you mean is; someone (me most likely) has pointed out something you didn't know or are ignorant about.

https://www.londonstockexchange.com/news-article/RRR/lithium-subsidiary-established-assets-acquired/15392785

"ALR has acquired 51 ha of lithium claims 29 km NW of Bikita in SE Zimbabwe at Tin Hill, and is in the process of transferring title."

Maybe, if like me, you took the trouble to read stuff and remember it you might make less of a fool of yourself.

Too many people on here think they know everything without having to read anything. Time and again I back my comments up because I take the trouble to read stuff and my memory is a bit better than a goldfish's. If someone says something that I think is material and not quite right, I go and check up on it: recommended action for everyone.

DYOR

Come to Manchester. I will even buy you a beer back.

And it is not uber positive, it is called cold analysis. My analysis of the First Equity report was exactly that: I pointed out that I didn't think their report was on the nail but when you are doing analysis you have to start from somewhere.

My main point is that ALR with or without production and sales is worth a multiple of RRR's current MC. What that multiple might be is open to discussion and it will change over time.

At the end of the day the only way to find out what it is worth is to test the market and put it up for sale. However, in pretty much all of these cases, you see a valuation disparity between what private investors via market like AIM value them at and what trade buyers will pay. Naturally, a trade buyer will pay more because of more certainty through superior knowledge and understanding.

However, if you take their report as the starting point, ALR now has about 6x the acreage. RRR has stated that all the sites under application or transfer have pegmatites at or near surface and have been sampled. So it is a reasonable assumption to make to say that the acreage is broadly similar and that whatever valuation is put on it now it is 6x what FEQ put on it.

There is more acreage getting licenced/transferred. I don't know but ALR might end up somewhere are 10x on the acreage. Even if you assume FEQ is 50% too high, you still end up with a high multiple of RRR's current market capitalisation. Note that FEQ had already put -35% derisking factor in its analysis. I would also say that FEQ is assuming only 300,000 tonnes of 2% ore in place at Tin Hill and a five year production life. IMHO FEQ is tending towards the uber low side but until more work is done, no one knows for deffo.

DYOR