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This is probably the only company I have ever had to really fine tooth comb every word of a release with to look for the caveat and clever wording.
Quote:
We are in constant communication with our country representative, our lawyer, and our local partner and expect senior management to be in the DRC this week or next with a view to finalisation.
END Quote:
The only word that needs focus in this statement is 'expect'... once again it delivers a nice shiny promise on the face but the detail says we may or we may not (expect to) get on a plane some time in the next two weeks.
Hence why this is just a REACH and not an RNS.
DYOR.
"From grass-roots exploration through to mine closure, our expertise in project management, property valuations, Mineral Resource and Reserve estimates, NI 43-101 and JORC technical reports, and due diligence reviews has distinguished WGM as the most trusted name in exploration and mining since 1962."
It seems having these people showing our CDI assets around Toronto PDAC is a bit of a coup. We have already had a number of people approaching RRR but this will now put RRR's CDI assets front and centre. Maybe we will get a bit of an auction going.
As I keep showing CDI is a very active jurisdiction for deals.
Fingers crossed
DYOR
Have to laugh when the plums say they have checked this and that site and it is not showing a short position, no of course not, the short positions (including forward selling of equity raises) are held by market makers and brokers who cannot resist a turn and do not declare.
OK here is a scenario, you are the company broker and the CEO says he needs to raise cash, if the share price is £1 they (the broker) starts selling as many shares as they can at £1/90p/80p etc and then tell the CEO they can get a placing away at 75p, they then close their positions in the placing, it happens all the time.
Now the best way to screw the broker/market maker is for the CEO to suggest they may need to raise money so the above process starts but then secure the cash elsewhere leaving the broker/market makers in the deep dung, they need to close their forward sold shares in the market.
Unfortunately many CEO's do not have a clue as to what goes on and even if they do they are afraid to 'upset' their advisors, Bell has openly suggested he believes there are short positions ongoing here, he needs to go elsewhere for cash.
Of course if the DRC money comes in all well and good but, of course, who would know first, the broker and their market making chums, the system is corrupt and it has got worse over the last 3 to 4 years.
Http://www.wgm.ca/
These are the consultants.
DYOR
Should add 211m we're added to the market on 16th February 2024
These guys made a nice 20% over 4 months interest and will make a tidy profit on the 0.0637p issue price with 211m more warrants at 0.11p.
Mr Bell described the CLN as a novel instrument to avoid dilution.
It's actually in term of money raised the single worst dilting event I've ever seen.
Watch it end up in the red by close , and the 2k plus buyers realize they've been dry bummed again
There are no shorts open on Spreadex or IG do they still have a CLN here?
None price sensitive.
They are the equivalent of a news letter.
RRR first started using them a month ago and it's now become a habit.
Nothing to really see here which we were not allready aware of.
No sign any joint venture or cash releasing event is close. They have been pursuing this for a couple of years. No success.
Yes commodity prices are up but that impacts as even helpful says "everyone".
Any evidence our assets are better para passu yo others that would make us a stand out ? Not that I've seen.
Good luck all this company as even H5O says owes shareholders just to get something over the line.
Another placing is a killer and should be avoided.
Https://twitter.com/RRR_RedRock/status/1765301967956406395?t=66fHZMUmZSrf4J__fOVdEw&s=19
DYOR
Yep, another mug punter bagging a loss of £250 in 20 minutes. When will folks learn that this is a company to avoid!
Mr 6246250 learnt a quick lesson ….lol
H5O, RRR has a lot of gold assets. The one prime for sale is the Macalder Tailings; just need to get the renewal finished.
Migori needs a bit of drilling to reinstate the previous 1m+ Oz JORC at which point a JV can be done.
DYOR
Bell has implied that there is a short position in this stock and I fully believe the same, I really, truly, hope they get caught on the wrong side of the trade.
Yes the DRC situation has been going on forever and an age but the money sits there, getting it paid is purely down to arbitration result, worth noting RRR has already won the in a similar process in country.
The gold assets are obviously more valuable and now potentially saleable, finally the market could re-rate this company, they just need to deliver on ONE promise.
Looking like less than £200k remaining in the coffers.
Andrew Madoff Bell playing his games again to get another placing out
DRC funding dropping tomorrow?
After hours placing is the betting after this pump and dump
The wording around DRC is getting softer. What an absolute mess of a company with one of the worst CEO's at the helm.
Must be getting close to a SAG being formed here? 🤣
Just a view on the current situation which seems incredible promising.
Ha ha the sceptic in me saying a few small buys after bell fry and lure in the crowd, doesn’t look like it’s working - Once bitten twice shy and all that - Or in RRR’s case 20 times bitten ……lol.
Any selling and and could well see trades below 0.06 today ! If there is a placing going to land dread to think what price it might be at 🙈🙈🙈🙈
“About Reach announcements”
They’re a load of bull zhit.
TDT
RNS reach. Any buying will be sold into
"We are in constant communication with our country representative, our lawyer, and our local partner and expect senior management to be in the DRC this week or next with a view to finalisation."
Senior management =Bell?
Will Bell pull it off? 0.25p on relieving award?? 3bag??? Then litigation for the BIG prize, $400,000??? 1p???? 10 bag?????
Sign me up fir the rampers club...
Not sure that will suck anyone in.
It's a Reach RNS as nothing not allready said.
I think they have a loan so not convinced on an placing.
No doubt the shorters will be out :) [ that is irony News and H5O]
They must be down to the last £200k from the last placing. Andrew Madoff Bell needs the SP higher to get the placing away