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Re. 09:18: "we shall aim to sell product before arrival at port" so probably arrived at port withiout being sold - maybe 20 tonnes or so if it was just one equivalent truck load that left the country. The 11/12/23 RNS seems to me to be continually relevant as well as 28/03/24 following 15/11/23.

In the meantime, will not Faso forget.

Aah yeah, it was a quite a clever consideration at 20:51 over there. I forgot the "other sums", though we don't know how much yet; was slightly slow on a check.

Acknowledging 20:51 Noirua, who does occasionally post here as well: re. January 20th... 24th, it's 50k.

Total equity figure re. 19:07... £13,469,000 - company statement of financial position june 30th, from annual report 13/12/24.

Agreed that the debt proportion has gone up since june 30th 2023 but the total equity is still a fair bit more than current liabilities as of june 30th 2024, even allowing for subseqent increase and if someone chooses to combine current with non-current liabilities, the figure that has been suggested at 07:24 for end of calendar year is still substantially less than the total equity figure. The difference I outlined could narrow further, alternatively - RRR might be able to do something with one or more of it's gold assets.

Re. 07:24:

As of June 30th 2024, the company statement of financial position was current liabilities: £748,000 with non-current liabilities at £756,000. The total equity as of that date was £13,649000. I appreciating in the post reporting period some debt may have increased but think Banbury is still combining current and non-current liabilities to maximise the negative spin; even if the debt figure he predicts for the end of the year trends towards being approximately so, it remains the case: the company has more equity than debt.

I await to see what RRR can do with any and some of its' gold assets.

The substantial late fish and chips I had, perhaps 700 grammes - feels like it's been burnt off. Obviously it's been eaten but just because it feels like the calories have disappeared - doesn't mean they have.

Correction of 16:18...

Following on from 03:15 and 03:55 - the latter being on the correct thread.

Re. the annual report of 13/12/24: Acknowledging Section 13 is "Exploration Assets and Mineral Tenements".

Section 6 is "Project Development and Other Project Costs".

Following on from 03:15 and 03:56 - the latter being on the correct thread.

I see I ended up on a slighly different thread after checking back the 13/12/24 annual report - to be fair there is ovelap of the topics on that thread, will try and be quicker than the full response to 10:06 at 03:15.

Banburys's quote from the auditors is in relation to section 13 - Mineral Exploration and Tenement Costs. It is not representative of the whole reality of RRR - Zimbawe Lithium, in my opinion.

The auditors mention - think it's section 2, that the group use Segmental Analysis. Mineral Exploration Costs and Mining Costs are treated seperetely, categoised seperetely - I assume.

Banbury has ignored section 6 or overlooked it - Project Development and Other Costs: £107,000 up to june 30th for Zimbabwe Lithium compared to approximately £65000 up to june 30th 2023 - two annual periods. Greater costs, 23/24 period, makes sense bearing in mind RRR RNS' and interviews relating to Zimbawe lithium, latter part of 2023, perhaps early 2024.

The RNS of 11/12/23 - some of the content of that - overlapped with what the auditors mentioned within the annual report - refes to approximately £58000 out of a £110,000 issue of shares being relevant to costs that helped to establish a lithium export pipeline and a sudden increase in costs to do with that project - that increase in costs, to my mind, may have involved the need to facilitate and pay for storage. The storage of lithium would seem to me, to relate to a mining cost and not an exploration cost and so coud be relevant to section 6, £107000 for project development, Zimbabwe Lithium.

Even if the lithium had been originally mined by suppliers to RRR / ALR and they paid for it as part of a trade operation, I think any expense on that would still be closer to a mining cost than an exploration costs - so still seems to me, closer to Project Development and Other Costs: Section 6... Zimbabwe Lithium, £107,000: 30th June 2023 - 30th June 2024.

Reading the RNS of 15/11/23 and 28/03/24, it would seem to me the smaller part of 200 tonnes is in Harare, the larger part of 200 tonnes is in Beira - two seperate amounts adding up to, I presume... approximately 200 tonnes.

Resonding to 10:06:

Banbury you quoted Bell's comment on Zimbabwe lithium project from his comments at the start of the annual report 13/12/06.

You then quoted the auditors comment on impairment of the project that year, you said that there was no value recorded for lithium exported or stored (I am paraphrasing). You presented the section you quoted as if was the sole reality and somehow contradicting or at at least alternative and meaningfully so to what Bell said. But really what you quoted from the auditors was relevant to section 13: Minneral Explanation and Tenement Costs.

There was an earlier part, section 6: Project Development and Other Costs and that section detailed £107000 spent this year compared to appeoximately £65000 the year before - each year ending June 30th - reporting period. I think the higher develoment cost: june 30th 2023 - june 2024 is in keeping with RRR RNS and video intervies at the time pertaining to their lithium project.

The auditors explained that the group use segmental analysis so mineral exlploration costs and mining costs are treated seperately, seems to me that even if RRR / ALR bought mined lithium from other suppliers that expense is still a mining cost, it is not an exploration cost, subsequent storage of mined lithium still wouldn't be an explorstion or tenement cost, I think it is more likely to be cliser to a mining cost.

Notably there were other sections between the two I mentioned which had nothing to do with Zimbabwe lithium, which leads me to think your quote from the auditors is misrepresentative towards the whole of RRR - Zimbabwe lithium rather than just section 13 to which it does represent.

The auditors, within the report, mentioned a placing of £110000 in respect of someone who had helped RRR with costs in Zimbawe and Burkina Faso - the 11/12/23 RNS is relevant to that and it nentions appoximately £58000 was covering Zimbabwe lithium costs and a sudden increase of costs or sudden extra costs - at the time - to my mind that could have covered storage and that may well be relevant both to Harare - probably a small amount of the 200 tonnes and Beira probably - a larger proprtion of the 200 tonnes - presuming that as the approximately correct overall amount relevant to 15/11/23 then 28/03/24.

Blueboy1975, I know some of the context for the word but when I looked it up I found there was an aspect I had either forgotten or never really known - so given that a sycophant might heap praise (not necessarily genuine praise) on someone in order to try and gain some advantage and that might be towards someone powerful or considered to have more knowledge than themselves - perhaps yesterday, when you said, "two sycophants", boosting ego, you were thinking of Aimdogs and Banbury?

Re. (battery was going to.sleep) 21:43:

With regard to Bell's comments within the annual report, I meant that quite loosely i.e. as part of the conversation between tbe company and the auditors re. statements - financial aspects, the auditors then wrote up their report.

Early on in the write up by the auditors within the annual report, they referred to "Other Information"... e.g. comments by directors beyond financual statements. The finanicial statements and information provided by the company will have been what is relevent to the audited report but comments beyond / outside that e.g. Bell's write up at the start won't have been part of the auditors report, as I understand it. I think that part of the RNS will have been checked by the nomad for if it was reasonable comment and if so I still regard that as, not a guarantee of perceived reality at the time but still a strong check, so when I read it, I can then think I am reading a reasonable comment to the present with the future generally unknown.

By trivial contrast: I will be offline most of the day. Have a good weekend everyone. : )

Blueboy1975, you had a go at Helpful for not posting following the publication of the annual report, then you had more of a go when he did post.

Bell commented within the annual report, the annual report was audited which doesn't guarantee accuracy at the time of writing but it is a strong check. The strength of your sentiment expressed does not guarantee what you write is accurate.

Re. 20:29: the last sentence is not relevant to the convertible loan notes.

Re. 20:13: yep, have remembered that well enough: annual interest rates for two loans of 20% interest rate and convertible loan note at 12% annual interest rate by contrast to the two smaller loans at 0.5% daily rate in respect to £50,000 and £150,000 which can be settled early with a 30% bonus for the smaller one and a 25% bonus for the larger one. The larger loan amounts can also be settled early with bonus percentages which are less than the two detailed.

Re. 17:02: The 0.5% daily interest referred to in today's annual report was for a loan of £50000 and loan of a £150000 with a possibility of 30% and 25% bonus for early repayments. This is not representative of the majority of loans to RRR. There were larger loans with interest rates of 12% and 20% (by way of example) and these rates were not daily, so spread over a longer time period regarding interest to be paid, it seems to me (which I have assumed to be annual) as I read the full year report of 13/12/24.

Re. 15:42:

Zimbabwe lithium asset - £107,00 development costs as detailed by the auditor in 13/12/24 annual report, no income detailed for lithium asset. Bell explained in Other Assets section of his write up (I paraphrase...) the royalty agreement was done at a higher commodity price to where it is now and though the lithium export pipeline has been established, it is not profitable to conclude sales.

15/11/23 - first truck was prepared for export to Harare, a truck might carry approximately 20 tonnes.

180 tonnes could have remained in Zimbabwe, perhaps stored in Beira.

Lithium stockpile is split beween Beira and Harare according to half-year report of 28/03/24.

11/12/23 RNS - £110,00 raised by the issue of shares to a high net worth investor who had helped with establishing a lithium export pipeline - approximately £58000 of that larger amount was relevant to helping with lithium project costs and costs that had recently occurred, that could have included storage costs.

The above is summary from memory and research which is hopefully close enough in accuracy to be a reasonable pointer to relevant RNS' and aspects.

No I didn't miss it, nor what might be two aspects of irony at 1:33pm.

I'm your "audience" too Aimdogs and I believe 0.25 is your thing whereas 0.2 might have been mentioned, clearly as part of a thought experiment, on july 31st at 06:46 as a rhetorical musing. If 0.25 is just your thing, perhaps you're musing too.