I say next week we convince someone like Briarbank to contact RRR and let them know this is what we intend to do if our demands (which we can all discuss this week) are not met. There's no need to actually go ahead with this as long as the bod take this seriously. This could all be pointless if we do get news this week lol, and il be the first to apologise if the sp goes over 3p, but as of right now there does not seem to be any light at the end of the tunnel. We could easily go the end of the year before we get the money at this rate.
if RRR gave us shareholders an RNS explanation to explain exactly why their as been a delay in Greenland, not around the bush vague details but EXACTLY why the delay, then if the explanation was good enough this share price could easily be over 1p next week.
Surely the top brass at Red Rock realise that vague unclear details kills a share price.
Is reading this, then I've just got a simple request. Give us more information. All of us want to know why GL has been delayed and what needs to be done to get it completed. If there is a delay that could still go on for several more months we should be told about it instead of all the previous RNS's that are hazy to the point where the optimistic bunch view it as tomorrow and the pessimistic as never and the rest just have a chuckle and carry on waiting. This all needs to stop. And for Colombia as far as I'm aware we have spent the last few months reinvesting profits into further exploration which has led to increases production. Now is the time to announce what will be done with generated profits from el Limon if it is now an investment that we can keep instead of selling. Just 2 positive RNS's- one from GL and the other from Colombia and the sp will explode. That's why I'm still in and that's why I think it's time maybe for AB to go and for someone else to come in and get the job done.
Yes sorry for suggesting kissing AB's feet i was just trying to be optimistic.
And i agree with you about AB. From reading different share forums these past 7 months the stumbling block for people investing in RRR always seems to be AB and the trust issues they have with him, so if somebody new took over, who isn't currently with RRR, then i'm sure confidence would be restored in RRR and then new investors would relish investing in RRR .
Or will kiss his feet. End of the day it's his job to make us money for which we pay him well. And considering for long term holders most of whom now need a 10-15 bagger just to break even then I can't recall a grovelling apology from AB for not getting the job done that we expected him to do. I'm "only" down 60% and after the last RNS have decided not to topup unless it goes to a silly price like 0.3. I've got a big holding here compared to my overall portfolio and am now getting to the point where I feel I something needs to be done. There is a difference between RRR and AB. I still believe in RRR and its potential. It could easily be £30m mcap next week, £50m in 3 months and £100m in a year. I just now strongly feel we need someone new in charge and if that needs to be done then time is money so better to get it done while we are still under 2bn shares issued.
Shareholders representing at least 5% of the company’s voting rights can require the board to call a general meeting of the shareholders to consider a resolution to dismiss a director. To be effective, the resolution must be passed at the meeting by more than 50% of the votes cast. The director is entitled to be given special notice of the meeting and to present his or her case, both by written representations to the members beforehand, and at the meeting (which means that the resolution cannot be passed using a written resolution in lieu of a meeting – there must be an actual meeting).
The Companies Act 2006 says a director can be removed in this way irrespective of anything to the contrary in their contract of employment, or in the company’s articles of association. However, directors who are also shareholders sometimes have special voting rights on resolutions to remove them, set out in the company’s articles. Despite what it says in the Act, these are effective, because they mean the necessary majority vote cannot be obtained to pass the resolution.
Clearly, the procedure is complex - and strict time limits apply when calculating when to give special notice to the director, notice of meeting to the shareholders, etc - so specialist legal advice is strongly recommended. Note the employment law consequences of removing a director who is also an employee (see 16).
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16. How can the board of directors dismiss a director?
Shareholder approval is required to dismiss a director. (The directors themselves can remove a director from the position of managing director or chairman — but he or she will still be a director.) The board would therefore need to call a general meeting (see 15). If the director is also an employee of the company, the directors will need to ensure that the dismissal respects his or her employment rights - in particular their notice period under their contract or as specified by law, and their right not to be unfairly dismissed – or they may be entitled to claim compensation for breach of those rights.
In practice, it is more common for directors to be encouraged to resign rather than actively forced out of office. In such circumstances a compromise agreement will often be drawn up, to cover future claims and possibly the departing director's involvement in competing businesses."
Could be an option. We just need enough investors to have 85m shares and at the meeting more than 50% vote and bobs your uncle.
who been sl*gging off AB will be kissing his feet in a year or two and doing a grovelling Apology to him...because the gold grades that are discovered in the Ivory Coast will be the most stunning high grades that in turn sends the Red Rock share price to dizzying heights that's never been seen before. :))))))))
To be fair if GL completes then 75% of them targets listed could be achieved in a couple of days trading. Just getting frustrated like everyone else that its been so long without any GL news and know we get all this Ivory Coast and early exploration bs. How can issuing more share at under 0.5p be considered a good idea. All of RRR's energy should be directed towards existing projects. If these can be progressed within an agreeable timeframe then its ok to start a new project. But when we have one project that we are waiting to complete without any end in sight, another goldmine which is also stuck at the discussion stage and then Kenya which itself is at the feasability stage, then why take on another project. This to me reeks of an excuse to raise more money in the future as GL is not expected to complete soon. Hope I'm wrong and we get GL news this month. But of we don't then come April we could be in the 0.3's again.
hopefully the RRR share price will be over 0.55p by next Friday. Then if it reached 0.55p then 0.70p wouldn't be far away. Then if it reached 0.70p then 0.90p wouldn't be far away. Then if it reached 0.90p then 1.10p wouldn't be far away. Then if it reached 1.10p then 1.35p wouldn't be far away. Then if it reached 1.35p then 1.70p wouldn't be far away. Then if it reached 1.70p then 2.10p wouldn't be far away. Then if it reached 2.10p then 2.50p wouldn't be far away. Then if it reached 2.50p then 3p wouldn't be far away. Then if it reached 3p then 4p wouldn't be far away. Then if it reached 4p then 5p wouldn't be far away. Then if it reached 5p then 7p wouldn't be far away. Then if it reached 7p then 10p wouldn't be far away. Then if it reached 10p then 13p wouldn't be far away. Then if it reached 13p then 17p wouldn't be far away. Then if it reached 17p then 20p wouldn't be far away.
So hopefully at least 0.55p by next Friday then we can build from there. :)
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