Member Info for zumore

We can at present ignore anything about Kenya licenses because the 3 year licenses expired 2nd August 2023.

So that is over a year ago and Kenyan government have not yet renewed licenses.

Will they ever renew them? I would say doubtful.

According to the internet the 16th failed assassination attempt on Burkina Faso President Captain Ibrahim Traoré recently happened.

Here's an unconnected/connected extract from Ibrahim Traoré and also a very short video clip of an America Senator speaking out aloud what was only meant for thinking.

https://www.thecanary.co/global/world-analysis/2024/08/02/africa-exploited-todd-young/

Orslega thanks for replying. 👍

I'm sure you made a wise decision not befriending him. 👍

I don't know whether Helpful got things right back in the days when you were both at Mayan but in all the years I've seen him on this thread I can never recall him predicting anything correct. So I think you can with confidence disregard anything he says on this thread. 👍

Good luck. 👍

Orslega do you consider the poster Helpful a friend?

Maidit, remember 60 days after 19 June 2024, so that'll be Saturday 18th August 2024, Red Rock need to pay Power Metal £250,000 in cash.

So you would think by Friday 17th August Red Rock will have either done a fundraise for this money or Andrew Bell would have tapped up the RRR major shareholders to lend this money.

To me the major RRR shareholders are in an awful place at Red Rock because if they don't lend RRR the money then RRR are highly likely to do a hugely discounted placing to raise the money to pay the £250,000 to Power metals.

That poster "helpful" had previously said that he has a direct stake in the Burkina Faso "FASO" subsidiary and yet he's now ramping other RRR assets tells me the Burkina Faso project is not in a good place.

Also seeing poster Orslega posting makes me uncomfortable because Orslega and Helpful know each other and are good friends. Back in the Northcoate/Mayan days they used to be like a double act (like Little and Large) on that LSE thread.

So seeing him turn up to help out his buddy Lundy/Helpful out gives me a sense of foreboding about Red Rock.

As you can see when the El Limon sale was first announced the structure of payments of the $5 million deal were pretty good = (1) $2,5 million first payment. (2) $1.5 promissory payment. (3) $1 million royalty payments.

https://www.lse.co.uk/rns/RRR/proposed-sale-of-colombian-interests-fvoayqe3yz77sd5.html

However as the year went on the $5 million sale may have stayed the same but the payment structure got weaker and weaker with smaller spread out cash payments, a $1 million promissory note, then it became $3 million in royalty payments.

https://www.lse.co.uk/rns/RRR/columbian-gold-assets-sale-agreement-17tfyzyzwaye5et.html

Then Red Rock got into a long dispute over the unpaid $1 million promissory note payment. Then they resolved it and RRR as part of payment took CAN$500,000 or 2.500,000 shares in PARA (or Soma).

https://www.lse.co.uk/rns/RRR/colombia-update-vr2fxk3dfoy2uhi.html

Some may ask what happened to those 2.500,000 PARA or SOMA shares? Well buried away in the 2020 Final results RNS it said:

"Soma Gold Corp. (formerly Para Resources Inc.)

"In July 2019, the Company transferred 2,225,000 shares in Para Resources Inc. and 175,000 warrants in Para Resources Inc. (note 15) to its creditor Cartwright Drilling Inc. to settle part of outstanding liability. Loss on disposal of these shares recognised in the Statement of Other Comprehensive Income amounted to £70,545."

.......

Looking at old RRR rns's royalty payments have been around $13,000 a quarter. Another occasion around $5,000 a quarter.

I always remember the Colombian sale as an atrocious deal because from sale announcement to sale completion (just over a year) the RRR share price quartered during that year.

Sorry I take that back. I read your post incorrectly.

Ok snitch.

So two of my posts have been removed.

I would say Nikeair reported and got my last evening's "Helpful's" sharepr*phets post removed?

Also removed was my last post to "news" when I asked him to please stop responding to my earlier n*y n*y n*ysayer post. So I suspect "news" asked lse admin if those words were indeed bannable words and then lse admin removed my very last post talking about it.

Just like "news" I had an 100% 11 year clean lse record as well. ☹️ Though unlike "news" I have never won Solgold top poster award. ☹️

Yes Banbury Helpful/Lundy is very dangerous to the unsuspecting investor because he tries to make every RRR asset seem wonderful. When the reality is most are not.

Regarding Kenya, from the 17 August 2020 RRR RNS it said the 3 year prospecting licenses had been renewed on 2 August 2020. So although Helpful/Lundy sometimes tries to hype up Migori/Kenya the facts are Red Rock do not at present have the Kenyan licenses because the 3 years prospecting licenses ended just over a year ago.

....

Helpful/Lundy earlier last year was doing numerous posts on how Tin hill asset/Zimbabwe would within weeks be producing and raking in many £hundreds of thousand of profits a month. Then he suddenly switched to it wasn't about production but "it was all about the acreage". Then later last year he tried to hype up the pathetic 200 tonnes.

From my last post you can question what actually exists in Zimbabwe. Yet today Lundy is now hyping up Zimbabwe.

...

That he is hyping up Zimbabwe tells me Faso isn't going well. Burkina Faso is rife with terrorism and the Military President Ibrahim Traore has warned that licenses may be removed from Foreign companies. So I do not see much of a future for Red Rock in Burkina Faso.

..

I'm really boring myself while i'm typing this so I'll stop. But yes I agree Red Rock behind the scenes are no doubt racking up lots of debt and not yet letting on to the ordinary investor

So overall it certainly doesn't look good at Red Rock.

If you read paragraphs 2 and 3 from the 3 July 2023 RRR RNS you could reasonably question what RRR actually still have left in Zimbabwe.

https://www.lse.co.uk/rns/RRR/lithium-update-zimbabwe-aqq6g7j3p31y93s.html

Even more so when you read below what was taken from a PDF "Procedures and requirements of acquiring mining title in Zimbabwe":

.....

"A Mining Title is a mining grant under laws and mining regulations to a person or group of approved persons of the right to develop and exploit a properly delineated area for its mineral wealth.

In Zimbabwe, Mining Titles are issued by the Ministry of Mines and Mining Development. Applications are submitted at eight provincial offices across the country.

The following are the procedures and requirements of acquiring a Mining title in Zimbabwe: The Agent is required to physically peg the area by marking the deposit with a discovery peg. She should also post Prospecting, Discovery, and Registration notices on the ground. The notices must be posted in a conspicuous manner to alert other prospectors.

Before posting these notices the agent is required to inform or seek consent from the landowner of his intention to prospect. Note consent is only sought from the landowner if prospecting on a farm less than 100 hectares, otherwise, the prospector is only required to inform the farm/landowner in writing either by registered mail or by hand delivery.

All areas classified as not open to prospecting and pegging or reserved against prospecting and pegging cannot be pegged eg. cultivated land /arable lands, dip tanks, dams.

Each prospecting license can peg up to a maximum of 10 claims of 1 hectare each.

An application for registration must be submitted to the Ministry of Mines and Mining Development offices. The application must have copies of the following attachments:

1. Prospecting license

2. Prospecting Notice

3. Discovery Notice (Base Minerals)

4. Notification of intention to prospect to the landowner

5. A map in triplicate to the scale of 1:25 000

If the Provincial Mining Director is satisfied that all pegging procedures have been followed he shall issue a certificate of registration upon payment of the gazetted fee. This allows the holder to start mining operations subject to meeting other obligations like Environmental Impact Assessment (EIA).

Within 3 months from the date of registration, the miner is required to obtain a renewal of title. Claims have a 12-month tenure after which they shall expire or be renewed.

Failure to renew the title will result in the forfeiture of a mining claim. Furthermore, loss of a title can be through cancellation or abandonment."

I can't be the only one that's noticed that you are very anti Canadian and very condescending towards our favourite Canadian poster on this thread. It's a bit like "ooh you do not understand the British ways"

Being a British person you certainly do not speak on my behalf. I can't believe you are a Canadianist. 😔 So you could eventually get banned for that. 😔

I've also noticed you use abusive language by calling some posters "naysayers" and "nay nays". 😳 So it goes without saying you could get banned for that as well. 😞

Bell posted this photo of himself in the Burkina Faso capital on 17th May.

https://twitter.com/ABell2019/status/1791413656359460920

Some may have then expected some progress photos on site, but no other photos.

8 days later on the 25th May Bell regurgitated the same old photo.

https://twitter.com/ABell2019/status/1794355988570726429

Then 17th June he posted a pointless photo of a dark road and saying he was going to be seeing some 9t + 30t trucks.

https://twitter.com/ABell2019/status/1802633448730821028

Again some may have then expected photos of the trucks but no all you got was that one photo of that boring dark road.

Then 28th July Bell posted this boring photo:

https://twitter.com/ABell2019/status/1817644598329741788

I know some have seen wonderful things in the above photo but I believe the reality is that it is just a boring meaningless photo by Andrew that is a woeful ramp attempt by Andrew.

I won't even go into all those lithium hoax photos that were posted last year.

Correction: 9 months after 19 June 2024 would be 19 March 2025.

The Red Rock 19 June said that Red Rock had completed the 100% purchase of the joint venture Australian assets they had with Power metals.

So according to previous RNS"s here are some of the payments Red Rock must make to Power Metals.

(1) 60 days after the deal completed Red Rock must make a £250,000 cash payment to Power Metals.

So because 60 days coincides with the weekend I calculate by Friday 17 August Red Rock must make that £250,000 cash payment to Power Metals.

(2). On purchase completion on the 19 June 2024 Red Rock gave £250,000 in convertible loan notes to Power Metals. The price of these loan notes would be the same share price of any Red Rock fundraise over £200,000. Regardless of any fundraise those convertible loan notes are only for 6 months, so they will expire around 19th December 2024.

So if no loan note conversion by 19 December then the convertible loan note period will have ended and therefore Red Rock will have to make a further £250,000 + interest cash payment to Power Metals.

(3) 9 months after the purchase completion Red Rock must make a further £250,000 cash payment to Power metals.

So around 19th February 2025 Red Rock will have to make a further £250,000 cash payment to Power Metals.

(4) On purchase completion Red Rock also gave 166,666,667 in Red Rock shares to Power Metals. In the terms of the original March 2024 purchase agreement the RNS said those 166,666,667 shares would be 0.15p shares and those 166,666,667 Red Rock shares would be equal to a £250,000 payment in shares to Power Metals.

However in later Red Rock and Power metal RNS's it didn't say if 166,666,667 Red Rock shares would still be priced at 0.15p and would still also be equal to a £250,000 payment to Power Metals. So I guess at a later date we will all find out.

In the 12th June RRR chairman Andrew Bell said of these payments:

"We have the backing of major shareholders for our cash commitments under this transaction including the first cash payment of £250,000 due two months after Completion"

Now you can look at the above Andrew Bell statement in two ways.

(a) . Major Red Rock shareholders will lend Red Rock the money to make these payments to Power Metals.

or

(b). Major Red Rock shareholders fully support Red Rock in raising money to make those payments to Power metals.

I guess quite soon we will all find out.

Correction to my last post.

................

Helpful says:. "News, let them stress themselves out. I haven't traded"

You talk like a new RRR shareholder who could make a profit selling shares at these prices?

Helpful says:. "News, let them stress themselves out. I haven't traded"

You talk like a new RRR shareholders who could make a profit selling shares at these prices?

Look out for a photo of a golf ball because if you get a photo of one he'll be out in Kenya.

He could be in Kenya.

Why?

Because Red Rock's three year Kenyan prospecting license ended around 2nd August 2023. So coming up to the year mark he could be out in Kenya to enquire why they won't renew the license.