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Lol Helpful
Keep ramping old son and keep clinging to those Convertible Loan Notes you have which can't be converted unless the SP goes over 0.8p. The "ex-wives" club as you call them know the score here all too well as it seems do the markets. The Annual Report contained all the revealing and rather dire facts so no-one needs to make anything up:
Greenland project now sold off for just £1
Shoats Creek project now being written off
Steelmin project a bust, can't operate at a profit
Loans and investment in Amulet Diamonds way back in July 2018 that this BOD failed to report to the markets via RNS
In fact USD401,961 of shareholder loans which are "unsecured, non-interest bearing and have no fixed maturity or repayment date" !! Just great !
Current Liabilities of £2.6m
Cash in the bank £2.2m
but that's quickly burned through when this BOD expends around £850,000 a year just on ADMIN !!
Money from Jupiter dividends going into RRR coffers, not a single penny being passed onto RRR shareholders.
Value of the Jupiter shares here has tanked since they relisted last year.
Top it off with the fact that this BOD at the recent AGM requested and were granted authority to issue up to 400m more shares here and the usual picture is complete.
And all you have to ramp with is the usual "jam tomorrow" crapola for whatever the "new kid on the block" project happens to be. When that goes the same way as all the other projects you'll move onto the next new project, rinse, repeat ad-infinitum.
Definitely DYOR.
Funny guy! I don't give advice on here and anyone who would take any notice of any advice that was offered on here is heading for a fall.
If you have a look you will see that I mostly post links with information. Unlike our friends in the ex-Wives Club I like to keep it to the facts.
It isn't me that creates analysis that shows that the copper market is tightening and the price rising; it is out there whether I post it on here or not. Same with the analysis relating to takeovers in the copper sector. Sandfire looking to take over MOD Resources is just a particular example of a more general trend.
I do expect that once RRR publishes its JORC report that there will be some interest in it from other companies.
In the oil sector the market goes through phases where it is cheaper to buy oil on the stock market than to explore for it or do trade deals or buy it in the commodity markets. The same will apply in respect of copper. Right now AB has made it clear what he thinks he has at Musonoi but he can't back it up with a JORC resource report but he will be able to do so in a few weeks. At that point it will be clear what RRR has and what it is worth.
DYOR
As I said..
https://twitter.com/proactive_UK/status/1097446384674979841?s=19
Attaching a link to analysis that says that the price of copper is due rise is ramping?
Haha. Helpful the habitual ramper and Mr.M the habitual deramper and so the saga continues! Lol
Helpful - "Hey don't believe what I say"
Thanks. I don't, not a single word. You've shown yourself to be an habitual ramper of absolutely dire shares.
You ramped Mayan Energy for years despite the despicable behaviours of the BOD. A company that just kept issuing billions and billions of shares and then had to do a colossal 400-1 consolidation. Yes you read that right, 400-1 consolidation. The SP there was utterly destroyed by the BOD who spent millions in Admin whilst destroying shareholder value.
Your constant attempts to ramp RRR here are as useless as they were on Mayan. The Mayan board has seen some heavy exchanges with you and the other rampers who have been pulled up time and time again.
The "Jam tomorrow" billy BS doesn't work any more. Everyone knows how AB rolls both here and at RGM.
You need to get your money back from the Convertible Loan Notes you bought here. They are convertible at 0.8p.
People should be aware. Currently you haven't a rats chance in hell of converting them, just has you had no chance of converting them last year. Their term was extended for another year so here you are still trying to ramp the SP above 0.8p to make use of them. It's clearly not working.
SP is only going one way after that imo disastrous Annual Report. I can not imagine that any large investor would have been pleased to read what was revealed in there:
Greenland project sold off for £1
Shoats Creek Project being written off
Steelmin ceased operations because it can't operate at a profit
Investment and loans to Amulet Diamonds back in July 2018 that were not declared to markets via RNS
Current Liabilities of £2.6m
Admin Expenses of circa £850,000
Other Project Costs of £306,666
and so on
Now we have large (10%) holder Peter Gyllenhammar shedding shares
Like I said, SP is only going one way
Hey don't believe what I say, do some research. As I said, I think they will start some "test" mining shortly alongside the preparation of the JORC report.
One of the reasons for doing the JORC report is to deal with the "it can't be true because..... Andrew Bell" issues.
We will see what it says soon enough.
DYOR
Same poster (d_s_) said the following:
"After holding RRR shares for a considerable number of years and seeing my holding drop from over 13% to under 2% and value drop by over 90% due to the constant “fund raising” and issuing of new shares; I have finally had enough and sold all my shares.
Let’s be honest - doesn’t matter how much money RRR receives it will always disappear paying "misc. expenses", directors salaries and investing in white elephants; sorry I meant Elephant Oil and various other ridiculous investments. I simply can’t understand how a business manages to plough through so much money with so little to show for it."
See here:
http://www.lse.co.uk/member-info.asp?nick=d_s_
No need to take my word for it either. Here are the last posts of one Daniel Sklan, a former large holder (13%+) who also has a royalty deal with RRR for the Ivory Coast project. Referring to the Jupiter divi here he said:
"£500k...... how long will that last with RRR's over heads. Come on. Be realistic. There is no spike because investors have lost faith in AB / the board.
Jupiter has returned a huge amount more then this over the past 18 months. I have quite a substantial holding in JMS and have be in receipt of these.
What has RRR done with it? Who knows. It is a bottomless pit.
When did RRR last return money to shareholders? When did RRR last do a share buy back?
Despite various income streams and share dilution no share holder has received a penny and really dont see this changing"
Same old pithy "jam tomorrow" rhetoric from Helpful, a guy who has ramped Mayan energy for years despite it's utterly crippling and devastating relentless dilution that has catastrophically destroyed the share price.
The problem with the "theory" that a boost in metals prices should help even incompetent management is that it fails to take account of the spending habits of that management.
Jupiter Mines, an outfit with a huge share of the world class Tshipi mine which is throwing off millions in cash dividends, expended just ZAR 5.6m on Admin last year or in real money about £300k.
RRR, a pretty much failed AIM tiddler with a terrible history of dilution and questionable management, managed to burn through approx £850,000 on Admin plus a further £306k on "Other project costs".
This is a primary reason imo why there is seldom anything here for shareholders. Precious funds always get rinsed through this crazy expenditure nonsense. Jupiter paid approx. a £500k divi to Red Rock last Sept and will presumably pay another one shortly. When that kind of money is spunked away on Admin, you have to ask yourself what's really happening here.
For me, it's nothing but a pure lifestyle venture for the BOD and will remain that way until larger investors boot them out. Until then, nothing will change imo. The same tired old rampers will continue to try and pump the share for their own ends with the same old "jam tomorrow" BS. Thankfully I am immune to it by now. Buy, hold or sell but be sure to DYOR.
You need to check out the history of Musonoi. No you don't need deep pockets in this case, though it might be helpful.
1. It is an existing mine down to about 100m and is open pit
2. The mine workings are still there and can be reactivated
3. Gecamine has already done drilling on the site
4. It is likely that some more drilling might be needed because the full extent of the resource hasn't been defined.
5. They already have a 3D model of the resource built from the Gecamine records.
6. They know what has been extracted and what is left.
7. In my view the next step is some test mining whilst the JORC is prepared.
8. There is no need for infrastructure it is all there .
9. There are off-takers who have spare processing capacity nearby.
10. I expect the Migori license back shortly and that will fund the further work needed on the licenses.
11. Test mining will generate income in the short term.
12. The licenses are on the DRC Mining Cadestre if you want to check them out.
13. You might want to speculate if they exist: I have copy contracts, signed, dated and notarised plus the coordinates.
14. The John Boardman tweet gives you the location of Musonoi but RRR has six in total
DYOR
In mining and minerals a lot is about timing. It does look like copper, cobalt, nickel, vanadium and so on are about to have an upswing due to EVs. A 30% increase in the metals prices makes a huge difference; most but not all of that falls straight to the bottom line. Just as gold mining companies are a geared play on the gold price, the same applies to other miners and other metals.
If copper and cobalt move up over the next two years, as it looks like they will, then even incompetent management will get a result. Regardless, it looks like RRR has landed on its feet with the DRC licenses: it is probably a complete fluke etc but nonetheless they have them. This tweet shows you where the Musonoi license is physically located.
https://twitter.com/Boardo65/status/1094816758546845696
These licenses are 10 x better than the tailings projects RRR was after.
We should know in 8/12 weeks what the JORC resource says. AB has said he thinks around 200k tonnes of copper and round 20k/30k tonnes of cobalt. Regardless of who owns the asset that license becomes worth serious money once the JORC report confirms anything near what AB reckons is there.
DYOR
You have to feel for those shareholders. First failing as SULA (5 years ago their sp was 350p), then failing as ABM (a year ago their sp was 6p) now facing a double whammy of a massively discounted placing (0.5p) and two of the worst company directors on AIM.
Deal agreed at #ABM https://twitter.com/RRR_RedRock/status/1096369121338556417?s=19