Member Info for Parfett123

Hey guys, check out this is 5 years old and full of outdated information that just yet again shows the failure of the BOD.

Where is the progression?

Where are all these cash flow streams that are mentioned?

AJB has taken out circa £600k+ over this period with shareholders down 82%.

£250k overdue to POW, yet another unmet agreed payment by RRR under the NBGC agreement.

Question is, how will they settle it without funding.....

Careful, it will be worth £3 shortly, then £1.50, then 75p

But dont worry, they will keep the lights on.

🤣 sorry, its just sometimes it just astounds me that Mr Bell is taking home circa £160k+ whilst absolutely rinsing shareholders.

Worst thing is, most are likely trapped here because of the lack of liquidity to exit.

I truly hope for holders involved that he pulls off a miracle, but even then I dont think I would trust the BOD to deploy any influx of capital successfully, where is the track record to prove they can 🤷

Clutching* silly auto correct! I have no doubt I will be bitten back over it to detract from defending the investment case.

I can't fathom spamming the board with the gold price, being asked to clarify the investment case, then throws out an old oil play from years ago.

Clothing at straws here.

Is that the same Elephant Oil that was due to IPO in 22/23 and never did.

See prior news coverage below - happy to be proven wrong here Helpful, again giving you every chance to defend it.

'The company also dabbled with becoming an oil baron in 2015, through a GBP275,000 investment for a 4.76% stake in Elephant Oil, a privately-held oil exploration company exploring onshore Benin, West Africa. The company is hoping that Elephant will IPO, and for sure Elephant Oil was preparing a USD7m listing, according to an S-1/A registration statement of 1.6 million shares at a proposed price of between USD4 and USD5 per share. However, Elephant’s exploration period for its onshore licence, in tropical forest in Benin, has terminated, and the oil company’s management is in negotiations for an extension of the expired license. As of end-December 2022, Elephant Oil had USD25,436 in cash and USD4.4m in total liabilities.'

Why would I cry over Haneti? Bigger fish to fry thanks to a BOD at POW that wants to push their company forward.

But nice to know you can't communicate a simple investment thesis for RRR yet you defend it so profusely with false statements about JORCs without liscense, JVs without funding and a business that should have gone under years ago.

Perhaps if you put more time in elsewhere you wouldn't be stuck defending such a lame duck

All I would like to know from Helpful is his investment case based on facts right now.

Should not be hard to do for someone so willing to defend the company.

Most recent stockbox interview he said he was staying until the arbitration was completed.

As it hasn't been, I can only assume he is.

Given the NBGC assets are also known to be notoriously difficult to develop given their insitu minerlasation type, I dont think POW want the overhang of taking them within a settlement, and they 100% won't want more worthless warrants & shares.

Lose lose for POW unless its the agreed cash amount, at least they have cut all operational ties with RRR so as not to be bogged down with them on non progressive projects.

I do not retract what I said but perhaps a reframing for you would be better.

RRR have a jorc complaint resource they cannot touch, fund or develop and therefore the rise in gold price does not add value to a liability. $3000 of 0 = 0.

But please how about elaborating on the following;

- pitful cash reserves

- alleged lithium production being shown to the public via a stolen photo.

- the CEO currently in the DRC for 2 months being paid for by the company.

- 250k owed to POW TODAY that they cannot fund.

- JVs that they cannot fund.

- 14 raises in the last 12 months.

Please elaborate on your investment thesis rather than nit picking others. If you have one, tell us, there is no reason you would not disclose this if there is provable value drivers. And no, the arbitration is not provable, it was only a week away 3 times 12 months ago.

Great an updated JORC on an assets the company has done and can continue to do nothing with, what a great value add to hang your hat on.

Anyway, I shall leave you on this hill of RRR that you want to defend whilst the rest of the market await the next fund raise, it should be a doozy.

Actually is AB still on his company funded holiday in the DRC, must be coming up to 2 months by now. Not to worry, he can always dilute shareholders to settle the hotel bill.

You mean the Copper Cobalt JV that RRR have 51% of which they cannot fund any further action on.

Or the NBGC JV that they have 'bought' POW out of yet dont have the funds to actually complete the deal nor do anything with after.

Or the Jupiter 0.95% holding since 2018 that is yet to show any return to shareholders.

Or that 1.2m JORC made up of 5 seperate ore bodies that RRR cannot fund any further development on, that has been in arbitration for years that gets wheeled out once in a while when RRR need funds.

But again, please elaborate where this proposed value is hidden as currently is looks like a load of liability on the balance sheet with 0 forward looking potential without yet further massive dilution just to keep the lights on....

Have a missed anything or do you want to defect again with anything else I have bought up as you have no response....

Amazingly still no update on those 1 ton bags of lithium that was a stolen photo from a Japanese company, or are you not allowed to bring that up.

All absolutely irrelevant with the current state of RRR management and funding.

Ahh yes those assets on the balance sheet that you would like everyone to focus on, meanwhile the company has raised circa 14 times in the last 12 months adding nearly 2 billion shares in dilution with 0 realised progress for retuning any value to shareholders.

14 times.

Shocking behaviour.

But please continue to pretend like there is shareholder value to be gained here whilst it holders get diluted to nothing

Thank you for proving my point.

Gold in the ground means absolutely nothing when the business has no plan, no funding, no exploration programme, no management team driving the project forward & owes circa 10% of their market cap to POW following a struggle to raise £25k which has to be loaned via an existing shareholder.

Ive watched RRR for 5 years after early exposure via POW and in that time I can truly say I have never seen a more blatant leisure vehicle used to keep the BOD comfortable.

So again I ask. What is your investment case for RRR to counter my view other than just being silly.

I truly hope others see this because I would advise anyone to look elsewhere to put their money if your the only bastion of defence the business has.

236 in 30 days.

That's a payment per post if ever I've seen one.

If not, please clarify your investment case for RRR so we can understand your point of view, as currently it just looks a baseless.

'Helpful'

Congrats on breaking through 15000 comments since 2013 all on the RRR board. During that period gold has gone from circa $1400 to $3000+ with RRR shareholders down 99%+.

I almost admire the commitment. Perhaps you should have followed your own advice and just bought physical gold.

DYOR would lead to the only plausible conclusion that this listed vehicle has serviced no one but those on the payroll & AB. Many may be hooked by the possibility of the £5m but notice how it all of a sudden is bought up just before each raise!

DYOR and look elsewhere

That only matters when you have provable ounces in tbe ground that can reflect the price rise.

$3000+ of 0 = 0 currently for RRR