· "Pursuant to the terms of the Promissory Note which was issued by Columbia Mining Limited ("CML") and following recent announcements by Para Resources Inc. (TSXV:PBR) ("Para") in relation to its purchases of shares in CML, Red Rock has notified CML and Para that it considers the conversion of its $1,000,000 Promissory Note into ordinary shares of Para has been triggered, at a price per Para share of 12.5c.
CML and Para have now informed Red Rock that they do not agree that the conversion has been triggered on the grounds that it is not CML itself which has been listed" ........
Well if that's CML & PARA's reason, then to me it looks very diffcult for Red Rock to get their hands on that $1m prommisory note money. So could be a lengthy and costly legal battle.
that i say this, but now Mr Bell is on the GRL board i personally now value Red Rock's original £112,500 GRL investment as pretty worthless.
I say this because when he wasn't on the GRL board i saw Red Rock's GRL investment as a liquid investment that could've easily been quickly sold and turned into money; however now he's plonked himself on the GRL board let's be honest he won't be selling Red Rock's GRL shares anytime soon: he'll now sit on the GRL board for years on end raking in the fees for himself.
And i agree with what people have said in the past, that Bell often gets a place on a board because Red Rock have made an investment in that company, in other words he is Red Rock's mouthpiece so therefore he gets a place on that board. Now i agree with others who've said that the fees he gets while sitting on these boards (as Red Rock's representitive) shouldn't be pocketed for himself but should instead be given to Red Rock because the sole reason he's in those board meetings and sat on the board is because he is working for Red Rock. But when he pockets the fees for himself it's like he's got a new wage a new job, so of course he's very reluctant to ever give them up.
So it's NOT good he's got a place on the GRL board today.
GoldStone (AIM: GRL), the AIM quoted company focused on gold in West and Central Africa, is pleased to announce the appointments of Emma Priestley, current interim Chief Executive Officer, as Executive Director and Chief Executive Officer and Andrew Bell as a Non-executive Director of the Company with immediate effect.
Emma Priestley specialises in Africa and emerging market sectors, developing and advising companies. Emma is currently a director of Stratex International Plc (AIM: STI) as business development and market liaison, in conjunction with which she is an adviser with African Resource Capital focussed on investments on the African Continent. Previously, in this capacity, until its successful takeover, she was an Executive Director of Lonrho Plc, focussing on opportunities in agriculture, infrastructure, logistics, and natural resources, and attracting investors to them, both in equity and structured finance. Emma has worked with GVA Grimley and IMC Mackay & Schnellmann, investment bank CSFB and advisers VSA Resources and Ambrian Partners, where she worked as a corporate broker and financial adviser. Emma is a graduate of Camborne School of Mines, is a chartered Mining Engineer and Chartered Mineral Surveyor.
Andrew Bell began his business career as an investment analyst at Morgan Grenfell & Co Ltd specialising in the mining and oil and gas sectors. After experience as a Far Eastern unit trust manager and pension fund manager at Grieveson Grant & Co and elsewhere, he held various positions in corporate finance and in trading and property development companies. Since 2004, he has served as Executive Chairman of Regency Mines plc (AIM: RGM), since 2005 as Chairman and CEO of Red Rock Resources plc (AIM: RRR) and since 2006 as Chairman of Greatland Gold plc (AIM: GGP).
Goldstone Chairman, Christopher Hall, commented:
"We are very pleased that Emma and Andrew are joining the Goldstone Board and look forward to their input in helping to drive the Company forward as we seek to advance the Company's assets."
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