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This part of the RNS is very significant: 'NPC and CRCL also agree to work together to identify and secure the funding required to move the Mambare and Wo Wo Gap projects to production'.

If you want to read the article follow the link in the post below and then type 'Stinky Pete scandal' into the search box

Tom Winnifrith leaked the UJO placing via his ************* blog which cost shareholders by lowering the placing price and increasing the dilution so it seems justified that the outfit was investigated. TW now has a Vendetta so is trying to discredit the company. He should put his own house in order before trying to take the moral high ground. Read this for example https://www.guerillainvesting.co.uk/2020/09/22/*************-the-stinky-pete-scandal/

Looking like there could be some forward selling in anticipation of a fundraise to pay for further drilling

Surescreen built a new facility at the Sherwood Business Park in Nottingham. I think that is what is being referred to
https://www.google.com/amp/s/www.business-live.co.uk/manufacturing/first-rapid-covid-19-tests-21644413.amp

According to this website Openbox Ventures Inc was only set up 3 months ago - surely that can't be right?
https://www.bizapedia.com/de/openbox-ventures-inc.html
I also checked out the website https://openboxventures.com/ and wasn't very impressed.

What has been impressive though is the recent rise in the share price. I hope the numbers mentioned in the RNSs are realistic

'The well encountered 62.3ft of good-quality, net oil pay sandstone, with an average porosity of 21.3% in the Asl Formation'
Sounds very promising, possibly better than expected. I'd like to buy some but market makers have closed up shop

I think this makes a JV or even full takeover far more likely.
The interested counterparty would want to see a full feasibility study including the benefit from the TIO2 which is very high grade

Lanstead makes 25% on its share sales i.e for every £1000 of shares sold it only gives £750 to IMM so it's a very expensive way to finance a company. Also Lanstead was given twice the number of placing shares in warrants which is very unusual plus some 'value' shares for free.

It's a bit of a spoof fundraise given the sharing agreement and the huge number of warrants issued
'Notwithstanding the Subscription Price of 11 pence, shareholders should note that the share price of the Company needs to be on average over the 24 months of the Sharing Agreement at or above the Benchmark Price of 14.6667 pence per share for the Company to receive at least, or more than, the gross Subscription of £2.2 million.'

The placers will be very keen to offload the shares at any price and just keep the warrants.

So RRR has to pay $1million in February - is this debt still outstanding?

55m at 35.72 g/t from 77m (KRCD1729A)
including an interval zone of 20.75m at 91.98 g/t

That's about as good as it gets! You don't often see such a long and high grade intercept

Starting to suspect it's being groomed for a cheap takeover or will be taken privately.
If Yanfolila was operating normally, the market cap should be around 3 to 4 times the current level given a low cost second mine has been financed plus 50% of a very large project taken to DFS

I'm surprised they are having problems with the mining equipment as it's only 4 years old

For other more recent examples it's also worth looking at how the share prices of KEFI, VRS and IMM performed following the announcement of placings with Lanstead sharing agreements. There's also several companies that have taken placings with share arrangements with another provider YA/Riverfort

No, Lanstead make the same margin no matter what the share price is.
The business model is to make money without taking risk not speculating on the share price of tiny AIM listed companies

The reason is that Lanstead makes money on these finance facilities without taking any risk.
If it doesn't keep its book neutral then it risks losing money if the share price falls

I think an example with figures will make it easier for you to understand how the monthly payments work.

At the current 1.2p share price Lanstead sells 5.5million shares and receives £66,000 but it only has to pay NFX £49,500 (5.5million x £0.015) x 1.2p/2p. In this case NFX receives the monthly payment less a 25% discount which is Lanstead's fee.

If the share price rises to 2p then Lanstead receives £110,000 but it only has to pay NFX £82,500 i.e. 5.5million share @ £0.015 x 2p/2p. In this case NFX receives the monthly payment less a 25 % discount which is Lanstead's fee.

As you can see the 25% cost of the facility is very expensive, plus Lanstead have also been gifted 7.7million free shares.

If the company was expecting very positive news in the coming months is it likely it would have taken out such an expensive financing facility? Surely it would have been better to wait for the news to increase the share price first and then raise funds on more favourable terms.

I see some of you still don't understand how the placing works.

'its placing but the placing is priced at 1.5p. sp now way too low below that.' - It is not a 1.5p pricing. It is a placing for 110million shares (plus 7.7million freebie shares to Lanstead). The pricing of the placing isn't fixed as the monthly payments paid to NFX are dependent on the prevailing share price level. Lanstead sell 5.5million shares each month and part of the proceeds are paid to NFX. Unless there is constant buying pressure the Lanstead share sales will put the share price under pressure.

'Lanstead would not go for " A no hope' - Lanstead isn't investing anything into NFX so it doesn't care about the prospects of the company. Lanstead is being given 110million shares and it has to sell these shares into the market over a 20 period and pay part of the proceeds to NFX

That should read '35% less'