Member Info for specinvestor99

Banbury re suspension

1) Auditors last years audit had footnote for "Material Uncertainty Related to Going Concern"

2) Creditor action-agreed this is always a possibility The AIM only requires financial information every 6 months whereas Canada/US requires every quarter

Thank you for pointing out IOG, it made for interesting reading

Hopefully something positive will occur in Zimbabwe

Dvharrison- re Suspension What triggers a suspension for an AIM company? In Canada/US a failure to file reports after a period time (meaning its not immediately the day a report is late). the initial effect is insiders can not trade the shares for 6 months, then a hearing for possible reasons and an opportunity to cure default and finally a cease trade order

RRR next report (the annual) is due at the end of December so I would guess the earliest possible suspension would be perhaps March 2024. Personally I just dont think that it even remotely likely.

creditors or loan holders could perhaps trigger bankruptcy/insolvency but in Canada/US the shares would continue to trade. What happens in the UK if that happens?

Thanks for link to article which contains comments on

'what is high grade lithium' a subject which has come up on this board

From the article

"What exactly a high grade of lithium is can be hard to pin down. Generally, assay results of lithium oxide of more than 1.5 per cent per sample – whether that be in rock chips, aircore drill results, or diamond drill cores – is around where ‘high grade’ starts.

Of course, some lithium projects boast grades in the range of 3-4 per cent, which is definitely high-grade territory by anyone’s metric.

Worth considering is that lower grades can be equally desirable if there’s enough ore to go around."

Maidit- I agree with your reasoning (RRR has done small cash raises to keep the company going short term)

Short term this keeps constant pressure on the share price because everyone anticipates another fund raise, mid to long term plans can not be implemented due to lack of funding. How long is this a viable strategy? I am familiar with small cap space in Canada which is also risky but there is more clarity on what is actually happening or what might happen

Maidit Yes AB has shown excitement about RRR reeving money from the Congo (me too!). No doubt RRR in country people are saying the same thing. But given the lapse of time AB needs to have a reality check-is it still true? or are the onsite people saying that because they want to get paid? Is there an implied threat that RRR does not pay the local people then it goes away? AB has been to Congo multiple times and is now waiting for presumably the final step so he go to the bank and wire funds back to the UK. How long does he wait? Its already been weeks.

On the positive side the RRR shares are stronger. Lithium sample results are above export grade and the ELEP IPO appears to be close

Re-Congo- Unfortunately the longer Congo cash is 'imminent' without a meaningful/substantial explanation I must conclude that it is not an accurate statement. Unless something is forthcoming it should be replaced with:

uncertain/unknown/ no set time frame for resolution

AB needs to do a reality check on the Congo cash situation and release an RNS

RRR's 100K burn rate is just to keep the lights on and the various properties in good standing. Keep in mind that on every single one that there is an obligation to spend money. For ALR where they are actually trying to advance the project that cash cost is even higher.

The absence of news from RRR is just terrible. The posts about copper or lithium prices is just distracting, the El Limon news is really meaningless given the monetary impact

In Canada/US companies typically use an annual news service to distribute news releases so each news release cost between $150-$350. What does it cost in the UK? Is this a big cost? I just dont understand why RRR does not issue more news, particularly given the array of different projects, different counties and different commodities.

Banbury I mostly agree except for 'a lot of holes have been drilled" Mostly its activity that does not cost very much and does not add value with the exception of ALR whereby someone else paid the bills

'

12,000 oz of gold from E Limon Soma Gold has a power point presentation at https://www.somagoldcorp.com/_files/ugd/538e5b_8cc120c0c75a4a4c8901d6097a71f5a8.pdf

That "imminent" comment from April has not aged well

Mtd Ida is nice but does nothing for RRR right now. RRR will rise or fall based on ALR/Lithium and Congo

If those events do not happen then RRR will be forced to issue more and more shares which will result in a reverse stock split AB is not a buy and develop type manager. He goes for a quick hit and then moves on (burning more cash in the process). Making it even worse are the projects he hangs onto which burn even more cash

Yes multiple assets are nice-but negative cash is not RRR has been cash starved for years. Even if no work is being done on those 'multiple assets' they still burn cash.

now RRR has a plan for cash (Congo) and cash flow (lithium) ELEP appears to be going forward next week (we have heard that before but here they go again)

AB job performance--I wont engage in AB job performance for year 1-13- give him an F

personally I only invested last year and even last year quite frankly I would have focused on Congo to the exclusion of everything else (meaning no new projects) instead AB was spending money like a drunken sailor on shore leave

you can ALR luck if you want

Minority vs majority

yes 47% is less than the majority but how many other shareholders represent that 53% one or more than one

if it is more than one then does that 'group" have a voting agreement whereby they vote as a block?

What is does the actual ALR documents say about voting?

There is much that the outsiders do not know. What is positive for RRR current shareholders is that there is now an actual discussion about how much ALR is worth. good job to AB

LOL no luck changing the topic. You stated 25% (inside information) which is different from what RRR has disclosed

I believe you it probably is closer to 25% (as an insider you know have access to this information)

Helpful -yes I read that RNS. Presumably you are referring to this part which states:

"At the conclusion of this funding round, the Company's ownership of ALR is expected to be about 50% ."

I call your attention that this is a forward looking event to which non insiders do not any knowledge whether or not that event actually happened. However as I pointed out you as an insider would have knowledge IF that event actually happened which I was accepted your insider knowledge.

for the record I will not be trading on the insider information provided by Helpful

Yet another ELEP SEC filing was made yesteday (I just saw it). This one updates the registration statement with the June 30th financial statements so now ELEP is current and presumably ready to go public (next week?) subject to the final review of the book from NASDAQ

Hoping this is last week is to get cheap RRR shares

Helpful RRR has disclosed ownership is 75/25 however you disagree. Since you state you are an owner in ALR i have no reason to disagree with your statement however it again highlights your insider status on potential very significant information .

RRR ownership interest in each project should be referenced in the relevant RNS

The longer I am involved with RRR the more it highlights that the AIM is really not a good exchange for investors.

The Canadian exchanges have very good disclosure requirements for mining companies which could be easily implemented on the AIM exchange.

Perhaps it is just a matter of personal preference or what an investor is used to.

I still like RRR for the risk vs reward. To me no news on Congo means that RRR must get cash financing from other sources which probably accounts for increased trading volume which seems to occur prior to such events (not unusual in Canada. either)

IMO part of the problem is how AB (or others) allocate time. PR needs regular attention-say 2-3 RNS per month. Each project needs to be mentioned as to what the next activity will be , even if that is waiting for elections or waiting for licenses to be renewed, planning for exploration or waiting for funds to do that exploration

For example in the most recent RNS even if the results were just received. RRR could have announced samples were in fact taken and were in fact sent to the lab. This shows activity, results, builds anticipation and thus excitiment

Even in the most recent RNS could have been expanded by stating these results are export worthy which is WHY they are inc communication with potential customers to get a sales order/contract

RRR needs to connect the dots and not leave for someone to explain since IMO most potential investors wont take the time to DYOR

Helpful is correct in stating that NASDAQ has a last minute review of the 'book"

However here is what I believe is the correct takeaway

1) SEC will accept filings to go public

2) money can be raised to complete offering.

3) NASDAQ has reviewed "book' did not accept it and explained why

Now what

ELEP/Spartan now know what to change and why

The IPO process in the US is time consuming but I believe ELEP is near the end and it will be completed

ELEP in its SEC filings is stating completion in October so not too far away