Member Info for panda1

Your posts will only serve to encourage him to post more here.

He has called it right so far so it would be foolish to ignore what he has to say

He brings balance to the discussion and it's good for potential investors to hear both sides of the debate before making an investment decision. He is clearly a knowledgeable person with professional accountancy experience. Given the share price history there must be quite a few people that are grateful for his contributions to the debate to help them avoid painful losses.

It does make sense for the company to release an RNS to generate high liquidity to allow the placees to sell out at a profit so they can reload in the next fundraise

A regulatory RNS will be issued once the arbitration judgement is released

So just to recap: RRR's 50.1% owned licence was sold for $20million to Gecamines, one of the largest mining companies in Africa. RRR is owed $10million for its share of the licence plus the court has awarded RRR damages of $2million plus legal costs against VUP the JV partner. VUP has already been paid $5million and is owed a further $5million but potentially the damages owed will be deducted from this.

The payment is owed by the state owned company Gecamines. Bell has always maintained that Gecamines is ready to release the $15million payment as soon as the arbitration process has been finalised.

Once this payment has been settled Bell has said he will commence a much larger legal claim for damages due on the amount by which RRR has lost out after the licence was resold to Glencore for around $400million

Well done to those that are holding 👏

I voted no on 40,000 shares

It doesn't bring any new cash into the company as it's just restructuring an old loan.

BMN has to repay $7.1million in June which is going to be a struggle given recent performance

This is just confirmation of the refinancing announced on 27 November

I just received an email from IG about the takeover. I voted my shares against the offer

The chairman's letter to shareholders last week outlined the plan. Note the last sentence:

'After a 2023 which moved far too slowly as a result of the delay of these anticipated cash generation events and the gradual slide in lithium prices, we must move forward independently of the progress of matters whose timing we cannot control. With this in view, we have started working with a team of experienced mining and processing experts to put our trial gold project for alluvial free gold from Burkina Faso into early operation. This project is now advancing faster than we had anticipated, and we have reached the stage where in order to utilise cost-effectively the people brought in to implement the project, we must import and install key pieces of plant and equipment. We are in addition conducting diligence inquiries with our expert advisers on other projects that potentially offer access to prompt cash flow. Any funds raised at this stage will be put to good use.'

So he admitted in the interview that they will take a hit on the lithium sales and sell at a loss - so much for 'judge me on lithium sales' which he said previously. Another bait and switch and pivot from the lithium story to gold.

Next step is likely to be to raise capital for the next excapade at trying to produce gold from an alluvial material in Burkina Faso. I've seen plenty of AIM listed companies attempt alluvial mining and the revenues are usually tiny and not worth the dilution for shareholders.

Of course the DRC funds are imminent as he has been saying for the last couple of years. It reminds me of the story Vast uses about diamonds in Zimbabwe to get countless placings away.

I remember him saying in the last interview to judge him on the lithium sales

Agree, excellent RNS.

The company has great backing now and everything is now in place for the asset to start fulfilling its potential

What price do you think they will have to offer to get another placing away?

Fantastic news for the company. Looks like ORR has one of the best JV deals out of all explorers on AIM

I very much doubt there would be a stop loss on such a big position.

Kamran probably sold out whilst he stil is able to salvage some if his investment as he doesn't think BMN will receive the funds

Looks like Kamran is dumping some shares to punish shareholders

It doesn't look like Heid will be getting a job after all 😭

I think the objective is to try and get the share price up for another huge placing as has been fone many times before.

I note the company was recently saying project launch would be in Q42023 and today's RNS has pushed that out again to H12024. Who is actually going to provide the equity to build the mine and at what price?