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Helpful I appreciate the figures cos they are big! But what are the chances of AB seriously making us any money. It has not happened before and we thought Greenland or Kenya were good things. We shall see.
Just read it through: all the elements necessary for a successful claim are in place.
As Winnifroth said on Saturday, "But it would also open the way to a much larger claim against Glencore which one assumes would settle out of court relatively soon."
It depends but someone would have to advise RRR as to the quantum of the claim and then be able to stand up in court and defend that advice but...
The minimum claim should be 50.1% x $420mil less the $20mil we are currently divvying up plus interest and the maximum is the discounted cashflow less finance and operating costs for Musonoi plus something for the other two licences. How much is the DCF claim? Well both RRR and Gecamines reckon that there was 400k tonnes of copper at Musonoi plus 24k tonnes of cobalt. So a big number.
DYOR
Presumably Helpful you think we have a claim against G if we can challenge them. All come out in the wash.
For those interested....
Tortious Interference
https://uk.practicallaw.thomsonreuters.com/5-382-9829?transitionType=Default&contextData=(sc.Default)&firstPage=true#:~:text=Tortious%20interference%20with%20contract%20arises,in%20damages%20to%20the%20plaintiff.
DYOR
And maybe we might get an update on other things too. Wishful thinking?
I know all the excitement is currently about DRC and EOC but the one that has the real upside for RRR is African Lithium Resources.
With a bit of luck ALR should be in production by the end of the month.
Maybe we should get a bit of an update on timings soon.
DYOR
We should be back over 0.06p the current price shows nothing for ELEP oil a lot of news flow is due apart from DRC. Dyor
For what is worth I think RRR is on for a decent move up, it seems many juniors are re-rating even without news, we know there is a significant amount of news in the bank at Red Rock, the shares were trading around 0.70p this time last year and 1.3p in February 2021.
Another big volume day. L2 bid just moved up.
Vast did 300% in afew days after receiving cash
EOC only got the nod from the SEC on 18th Jan and Spartan went live on the Friday 20th. Spartan started circulating emails on the 20th. So they have only delayed it once.
Hopefully, it is done but I don't know.
There is a process to go through with NASDAQ: once you have got your book together, NASDAQ want to inspect it for money laundering, PEPs, sanctioned parties and other dodgy types. Once they give the nod then that is it!!!!
DYOR
No-one knows where Bell is except Helpful and his chums, by the look of his numerous tweets I still suggest he is abroad, what we know is he will be attending the AGM on Friday, if so and he is abroad, then there must be some announcement due on the Congo situation beforehand.
It remains to be seen if Elephant Oil will IPO on the 9th as telegraphed, it has been continually delayed, maybe this time it will actually happen, the fact the company has been added to the Nasdaq website is promising.
https://www.nasdaq.com/market-activity/ipos/overview?dealId=1164147-102522
Trading is the stock seems irregular, with larger trades going through and reported late over a number of sessions now.
Lots of Auction happening today.
Suspect we have a large buyer wanting shares, but the MM size is only 150k shares
Buyers will be lining up on Monday following TW's comments this weekend
Patrick7- the article from 'seekingalpha.com' is dated March 2022 so it is 11 months old
Looks like there will be news before Friday
We await the RRR AGM next week?
************* piece on RRR today.
Rumour of both DRC and elephant oil coming good
Sorry that should have read "Peace in Our Time" Blame the hangover and fat fingers.
I understand he intends to appear triumphantly on stage waving a piece of paper (Like Chamberlain) proclaiming "Peace in out time" or " A piece of Gecamines and oodles of cash". No sorry that was a daydream. But we may see something similar next week?!
Red Rock's AGM is next Friday afternoon. So i will assume he will need to return for that.
It says it looks like Elephant is listing in the next week or so and its says Bell is likely on his way back from DRC. Speculates about him getting the $7.5mil and points out that this opens the door to the larger claim against Big G: says it will likely be settled out of court pretty quickly.
So nothing that the avid followers on here are not aware of. No comment on the Victoria gold assay results which must be due now and/or African Lithium Resources.
In my view this likely moves RRR up further on Monday but as always, WTFK?
DYOR
Winnifroth has written a piece today on Red Rock, it seems he never sold his shares after all. The suggestion is waht we know already, I do not have access but I bet the 'rumours' he refers to are money from the Congo and the Elephant Oil listing bout to come to fruition in one way or another.
https://tinyurl.com/yc4pshzt
The other possible share price driver is the Lithium project which is designed to deliver cash in the RRR coffers.
There have been a number of re-rates of what one would call 'dog' stocks recently, the most obvious being VAST, up 350%, maybe RRR is next - the key is RRR starts from a very low base (£3.5m m/cap) so the % gain could be strong IF something materialises.
BTW Bell has gone quiet on Twitter.
Well something has lit a fuse!
Well the market just took sells of about 4m shares across 3 trades and didn't blink. Must be strong demand out there