Member Info for specinvestor99

Highlights:

o RRR expects the most important near-term developments to be:

o Announcement of first shipments of Lithium Ore

o Release of arbitration result in the DRC

o An update on how to progress New Ballarat Gold Corporation

o RRR expects to initiate activity this month on its lead Burkina Faso project with a view to possible short term production of alluvial Gold

***

observations

1) ELEP was NOT listed as important short term development

All SEC filings are available on EDGAR, Nothing new is on file since the ELEP S1 Amendment filed on Nov 6th

Helpful that not responsive to my message but I will comment on yours

1) I agree with approach (buy, use stockpile or produce) and then export the 3%. It is lower risk and significantly lower CAPEX.

2) Everyone is impacted by the new rules including RRR/ALR however the difference is the approach to mitigate that risk (see point 1) which others because of their historical approach and sunk costs will find it at best very difficult if not impossible

I already posted that I thought this was a good approach which can generate positive cash flow

This one caught my eye so I started watching it today. I havent done much on AIM and I am not really sure I like the disclosure rules (or lack thereof) I am used to the Canadian rules and I find it more challenging to a risk assessment given the lack of information

Helpful

I would appreciate your thought on my comments/observations

In listening to the interview I got the impression that AB is supremely confident that there are/or will be positive development for cash not contingent on an immediate stock placement. The naysayers were posting that share would be placed immediately after the GM approval. That has not happened nor has there been a second tranche announced after the first tranche of a convertible announced on Oct 19th

Perhaps wishful thinking on my part but I suspect AB is trying to get a significant investment from a 3rd party (Chinese?)

Any feedback?

Why goodbye ALR?

So plans have to be submitted, then government reviews, modifies etc (all taking time), then the plants still have to be build (more time)

Meanwhile exports of concentrates will continue because the government collects taxes.

Personally I dont the government will require every miner to build their own individual refinery operation. This also eliminates the small miners which will complain to government which will then force a refinery to purchase ore from other miners (this happens in other countries with other metals such gold, silver or copper).

This is clearly the direction Zimbabwe is moving towards but it will not all be resolved by April 2024. Export will continue past the date

Banbury -your comment about directors not getting paid is taken out of context which is on page 12 which states in part

"which includes the possibility of Directors reducing or foregoing their salaries if required" This same section made reference to both ELEPs IPO and cash from Congo , neither of which happened.

Now its 12 months later and despite those non events RRR is still in business and it was not necessary for Directors to forego payment (assuming this Directors did in fact get paid)

ELEP's IPO is outside the control of RRR as well as the timing of the arbitral award so continued comments that AB or directors should not get paid is nonsensical. They (or anyone else replacing them) will want to get paid.

Now having written that it is 12 months and IMO there should be more disclosure about is the delay about the arbitral award. Are there any rules, guidance or requirement as to when the decision is finalized or is it totally arbitrarily and or capricious as to timing. Justice delayed is justice denied.

Presumably arbitration was the alternative to litigation in the court system. Now its Dec 2023 what is the plan of action (or inaction if nothing can be done)?

So far no one has offered to work for free. I suppose just easier to complain, which is also free.

Helpful that $400K annual costs is comparable for public companies in US and Canada as well. On top of that cost is the minimum annual project cost for each property, then the cost per country- It all adds up.

The comments that since shareholders are suffering that those costs should be free or waived are simply ignorant.

RRR can cut substantially cut costs by finding a CEO who works for free

Job qualifications

Position requires a tolerance for accepting both written and verbal abuse, false and damaging statements and comments about family members.

Prior history of working with public companies preferred with a track record of achieving a 3x+ return for shareholders in less than 6 months.

Positive results need to be achieved without issuing more shares or increasing debt

***

who wants to set up a new email address to sort out the inquiries?

RUNUTZ@gmail.com or something similar could be used.

Theeeeduke/Capt_kurt AB fees went from a total of 144k (2021) to a total of 164 (2022) a 14% increase

Of that 20K increase Pension and social security accounted for 8K which presumably are mandated by your government so AB net to himself had a 4% increase

IMO the total is better representation than selecting isolated numbers but if someone is inclined to do that then one could say the consultancy fee had no increase or AB reduced his discretionary fee to ZERO.

Correction

"We will KNOW BY the end of December either way.

PS -as an additional side note, there several posters who thought that RRR would complete a financing right after the GM granting that approval. I did not make such a post but I did think a financing would have been announced by now. I suspect AB has been putting it off as long as possible in the hopes of receiving materially positive news (or perhaps this is my wishful thinking and no one want to finance RRR even at toxic levels)

Banbury

My take is a similarly qualified opinion which in 2022 stated

"Material Uncertainty Related to Going Concern

We draw attention to note 1.2 in the Financial Statements, which indicates that the Group is required to raise funds within the going concern period. As stated in note 1.2, these events or conditions, along with the other matters as set forth in note 1.2, indicate that a material uncertainty exists that may cast significant doubt on the Group’s and Parent Company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

In auditing the Financial Statements, we have concluded that the Director’s use of the going concern basis of accounting in the preparation of the Financial Statements is appropriate. Our evaluation of the Directors’ assessment of the Group’s and Company’s ability to continue to adopt the going concern basis of accounting included:

• Challenging the forecasts prepared by the Directors in their assessment of the Group’s and Parent Company’s ability to meet their financial obligations as they fall due for a period of at least 12 months from the date of approval of the Financial Statements.

The forecasts demonstrated that the Group and Parent Company will require additional funding, or will need to dispose of investments, to meet their liabilities as and when they fall due.

• The forecasts also indicated that the current funding will not be sufficient to meet the planned additional investments and exploration activities.

Our responsibilities and the responsibilities of the Directors, with respect to going concern, are described in the relevant sections of this report."

reality check RRR survived one year without either ELEP or cash from Congo. The auditors will most likely believe that survival will continue. They may want to see documentation of any financing offers, settlement proposal on Congo, export details and payment for the lithium. This last part is particularly significant since the auditors do not want to look like fools if exports are made and profitable but then say in their opinion the company can not survive

We will be the end of December either way

Now at $2040

Banbury-for 2022 and 2021 these were completed and issued at the end of Dec, I see nothing to suggest that they will not be completed.

I do find it interesting that despite having a GM to issue more shares that it has not yet taken place, Could there be a problem raising money or is AB/RRR waiting for something? For now I think he is waiting for something since in prior years even toxic debt was available to keep going (see financing announced on Dec 15, 2022.

I hope RRR can complete a deal on the newly licensed areas as the RNS stated "We have already received an expression of interest from a company wishing to discuss co-operation or a transaction, and expect further interest."

Eventually this will impact junior gold exploration companies

Banbury In Canada warrants typcailly do not get exercised until the share price siginicantly higher than exercise price (say 50%+) with a lessor premium the closer the warrants expire.

Yes warrants exercising would drag on the share price but the flip side is RRR would have more cash. Plus for any of that to actually happen the share price would be higher than .20.

I agree too many plates spinning and too many things set into motion last year before the cash was actually received.

Hindsight is always 20/20

New Property in yet another country. There are lots of areas in the world which have interesting/potential gold exploration potential. This new one, like any other, requires money to be spent.

Its easy to spend money in the gold business but much harder to make money. Everyone can do the first but few can do the second.

What is RRR's business model (future plans for the property)? The prospector model is well known in Canada. A company aqquires a property, does a little bit of work and then JV's the property to someone else to spend lots of money. RRR/AB has not shown an ability to do that.

Nothing wrong with having multiple properties but as shown in this RNS there is always a cost.

This started last year in anticipation that cash from the Congo would come in and now the annual obligations start to increase.

Despite higher gold prices I dont see money flowing to junior companies or in general their share prices increasing.

In other words there is not (for now) a bull market in junior gold exploration companies. If it does happen then RRR will be well positioned.

Overall I am indifferent to this RNS since I bought for the cash from the Congo

Banbury be a bit more objective in your complaints. Any third party most likely would have been paid upon delivery of the lithium to ALR/RRR. Those sellers, possibly illegal miners, earn their living by mining this material. They do not give it away nor would they accept payment on some future date based on an export. They have families to feed.

Is this type of business profitable? Most certainly IF the price paid by ALR/RRR for the material and all related costs is lower than the price paid. This should have a very robust profit margin and it would a prime reason why RRR/AB do not want to disclose details which might incentivize competition.

But at this point all we know for certain is that the first truck left. It is implied but not stated that additional ore would be sent

Helpful I merely stated that the public information is one truck. Please let me know the information (one truck) is not correct. See RNS dated Nov 15th

"The Company has 200 tons of lithium ore prepared for export and the first truck has now left Harare for the Mozambican port of Beira."

There is no information about additional trucks, date of export or future plans which is exactly why I stated the lack of information is negative for RRR's shareholders.

To answer your question re: additional RNS for each truck. My answer is NO but information on the export, delivery of 200 tonnes, or arrival details on shipment, next steps with sellers etc would be very information and IMO beneficial for the RRR share price.

All of the above is based on an understanding that RRR/ALR knows what the planned next steps are.