Thank you for this article vbeckers. I didn't realise the iron ore price had gone up this much, 26% from the low is a very good sign. I've also noticed oil rallying at the end of the week to see Brent over $50 even with dollar strength on the same days. Hopefully for RRR this will signal the bottom for commodities and the start of an upward trend and RRR assets can come back into play and go back up in value. If that does happen, you might even make a nice profit on your 0.2p buy in price :)
Commodity prices can be hugely volatile and who knows where they will be in the next few months let alone this time next year. I do feel they are oversold, especially oil - everyone seems to be saying oil will go down further, that's usually a sign its about to rally ime!
and more recently and yes, your shareholders are listening to the positives.
"The significance of the trend of price recovery in commodities and resumption of strong growth in the developed world and China for us is considerable.
At a time when our market capitalisation is £1.3m and the value at NAV of our stake in Jupiter Mines alone is £2.7m (we would argue the enterprise value to be considerably higher), confidence in that value and in the future of Jupiter will be greater when manganese prices are higher. No matter that Jupiter’s Tshipi has accumulated profits over two years; no matter that it shipped 1 million tonnes of manganese in its first year and over 2 million tonnes in its second, with a life of many decades before it; no matter that it is the cheapest or about the cheapest producer; while sentiment is depressed people do not listen to any positives.
The improving situation for demand and prices will bring a recognition of the value of both this asset, with its growth and dividend prospects, as well as our other assets."
" the growing presence of Tshipi in the manganese market is making this company a blue chip producer that we are confident will go from strength to strength. In time, the gap between Red Rock's carrying value of its Jupiter shares and their net asset value is one we expect will reduce."
I would love to help you out but unfortunately i don't have a twitter account but in regards to your question i don't think Mr Bell would tell you anyway.
Like you i have some burning questions that i would like Mr Bell to answer. Like did Mr Bell, other RRR directors and RRR workers get a monetary bonus when the Colombian El Limon sale completed? My suspicious mnd says they did and my suspicious mind says their bonus was based on getting a percentage of the $5 million sale and so that was the reason the first tranche got watered and watered down because all that mattered to them was getting the sale completed and then sharing out all their bonuses amongst themselves. Of course this is all a wild guess by me and it may not be true but if a placing were soon to happen then i think it may be true because Mikg the other day worked out at the moment Red Rock should have around £400,000 cash and his figures looked ok to me.
And this recent £26,000 of Mr Bell's own personal money that he recently invested into Red Rock may not have been that generous if he did get a whopping bonus when the Colombian sale completed. But again i'd like to restate that i may be well off the mark with this bonus.
Given RRR held a significant 6% + shareholding in Jupiter prior to Jupiter delisting and RRR now own a measly 1.2% I would have thought it reasonable for A Bell to disclose what his current holding is in Jupiter given he is a "significant" shareholder?
Hi vin.thought my ears were burning.lol.me I been working lad.I post about once every few days .full on with my work .if I post more than a couple of times a day it means either I am at home or have wifi at work.I havnt posted much for ages.what exactly is so odd about that.what is odd is that after the share price collapsing from pennies to 1/40th of a penny you seriously are still labelling people that are not impressed.that does appear ODD agenda ?.Hope the golf is going ok.
Do some research - We had a lot more shares in Jupiter than we have now when they were worth circa $0.80 Auzzie dollars. . . . AB could have sold some and brought in Millions but no only once they had crashed did he sell out at fraction of the price. I always thought AB knows best. . . Pffffft Best to line his own pockets. . Yes. All IMO of course.
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