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The royalty relating to any lithhium that RRR / ALR sold had been set at a fixed price when the commidity was higher that and softness in the destination market (perhaps not a reliable solid price) meant that in spite of the low cost of production (RRR / ALR not having to pay a high price for what had been produced by external suppliers) the project was halted because it was not able to be profitable at the time - as per Chairman's Statement - annual report, 1e/12/24.

... 26/02/25 08:57on the Faso tbread- blagging by Banbury and false comments.

18:14 today on tbe Lithium thread - alternative history by Banbury with a "bottom line" where he is erroneously chasing his own tale - presuming that relevant RNS', half-year report and audited annual report are more precise and factual than some of his spewing posts.

So Banbury, how do you explain section 24 of the 13/12/24 annual report? - an audited section of that report where it details £110,000 worth issue of shares transaction - how it was consistent with 11/12/23 RNS which followed on from the 15/11/23 RNS - the one which said itthe first.truck had left Harare - for the Mozambique port of Beira. Perhaps you think it was just a truck that had been exported? after all Bell did go to Barnsley and Scotland to look at some trucks acocording to his tweets. Maybe RRR diversified in to lorries.

Back to reality... perhaps it is more likely that you disregard parts of annual reports which din't fit your negative agenda. You like to talk about debt without distinguishing between, cuurent liabilities and non-current liabilities, perhaps to add a sense of urgency, you tend to ignore asset valuations from tbe annual reports and you ignored profits and facts of history when earlier this year you said RRR did well for shareholders for a brief period 18 years ago... but its been downhill for the last 18 years.

Profits (overall profits to RRR) ranginging from thousands of pounds to millions can be found by reading the annual reprts of 2008, 2010, 2011, 2018 and 2020 - those profits won't go missing if all of the annual reporrts from 2005 through to 2024 are read.

Spec' my original instinct relating to one of two scenarios has been boosted and recovered by your reasoning this afternoon. Good morning 🌟

It is possible a high net worth investor could have paid the costs for lithium to be stored in quick time as circumstances and plans changed. It seems to be a cost part of which might have been regarding storage that RRR might have paid the investor back by relevant proportion of £110,000 worth of shares as detailed in the most recent annual report - section 24. Even if storage pertained to an aspect of section 24 and the RNS of 11/12/23, the full impairment for one year (so far) might not have needed to be mentioned in that section as transactional value regarding issue of shares in satisfaction of costs that had already been paid had been officially noted.

Have a good weekend...

And everyone else.

Cheers : )

If I was to say, let 5k become 50p, I would thank myself if there was reason for that. Cheers

11:55: 🐯, 😺😺.

11:13: non sequiter 😺

10:55 etc: I never said you did - moot moot.

Re. 10:30: Chat rule 5d...

10:23 ... some of the value of the £110,00 shares issued was in satisfaction of those costs (approoximately £58k).

06:40 post - acknowledged Banbury and on re-reading sectoon 13 of 2024 annual rort - it said from memory flowing re-check amounts related to acquisition of mineral rights for Zimbwe Lothium... Amounts for Zimbawe Lithium are fully impaired for the current year.

It remains the case that the 11/12/23 RNS said (am paraphrasing - approximately....) costs had been paid byba high net worth investor in advance relating to the Zimbawe Lithium project which involved bringing in wprkers and estaablushing an export pipeline for 200 tonnes of lithiim. Additional costs had come up which had to be paulid with urgency, the investor paid these additional costs on behalf of the company. Some of the value of the shares issued were in payment of those costs. Section 24 of thel 2024 annual report confirmed that £110,000 worth of shares had been issued - part of which had been to satisfy costs relating to the Zimbawe Lothium project.

Perhaps it is 13/12/23 RNS and section 24 of the most reecent annnual report confirming aspects of that RNS which are a reasons to understand inventory costs not showing in the annual report re. Zinmabwe Lothium - I have always regarded that and full impairment for a year (so far) as explanaions - I remain of the belief that the 11/12/23 RNS - "additional costs" might relate to storage costs as part of that.

Further... section 24 which was an audited part of the 13/12/24 annual report and which acknowledged the issue of shares - part of which was satisfaction of costs relating to the Zimbabwe lithium project which had been paid by a high net worth investor.

The above details are consistent with content from the 11/12/23 RNS which may have made the storage of lithium in Beira and Harare, as detailed in the 28/03/24 half-year report, possible.

23:44: I agree with the impairment (for a year so far) and thus inventory not showing up in the annual report's financial statement which is therefore not an issue. It remaims the case as per 11/12/23 RNS that shares were issued in satisfaction of costs which had been paid by a high net worth investor - this was partly to do with facilitating export of lithium and unexpected costs - which might have been storage costs for the stockpile of lithium split between Beira and Harare and stored in those two places as detailed in the half-year report of 28/03/24.

15/11/23 RNS, 11/12/23 RNS , 28/03/24 Half Year Report and 13/12/24 Full Year Report all seem quite harmonious to me and instinctively more believable than the start of some posts.

Or to put it better... section 24 of the most recent annual report referred to content that was also in the 11/12/23 RNS - confirming there had been a placement of shares to satisfy the costs that a high net worth invester had covered - part of which was with regard to the Zimbabwe Lithium project.

Yep and section 13 of the 2024 annual report detailed full impairment "for the current year" regarding Zimbawe Lithium; Section 24 referred to content from the 11/12/23 RNS confirmimg shares had been issued in relation some costs covered by an individual regarding Zimbawe Lithium.

11/12/23 RNS - issue of shares in relation to additional costs, lithium project in Zimbabwe was mentioned within this RNS.

28/03/24 Half-year report detailed that the lithium stockpile was being stored in Beira and Harare.

Regarding 26/02/25 08:57: Banbury was just making it up... The best share price upside was noted in the 2010 annual report which is in the 14/15 years time range back from now and it referrred to the second half of the calendar year via the Chairman' statement. 2010 and 2011 were strong years for the comany in terms of profit. 2018 was a profitable year and so was 2020, 2008 was also a profitable year but that was 16 - 17 years ago and not on the same scale as 2010/11 in terms of profits. 2010, 2011 and 2020 accrued millions in profit and the 2018 annual report detailed a good recovery year with modest profits but it was a recovery at the time so for Banbury to have said it had been downhill for the last 18 years is very innacurate and was either ignorance or a choice to ignore the annual reports.

Not that much sign you are a balanced and comprehending reader of annual reports Banbury...

... that being the 21/07/25 RNS.