Our live Investing Matters Podcast Special which took place at the Master Investor Show discussing 'How undervalued is the UK stock market?', has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
As I said non-shareholder who sold out a couple of weeks ago on the basis that there would be an immediate placing and he could back in cheaper. Since then, practically non-stop deramping to get that lower buy back in price.
Since you want me to pick holes and I am good at it. Who said lucrative? What the gold price being higher is about, is marginality.
Gold production is a largely fixed cost activity: a well know feature of the listed gold company investment market is the marginal cost of production. If your marginal cost of production is $1.200 an oz and the price is $1,300 then it probably isn't worth producing. If the price moves to $2,000 then there is $700 an oz margin to be had and therefore worth producing. A big chunk of the marginal cost of production function is grade. Lower grade miners with a high marginal cost of production go from being unprofitable over night when the gold price rises. This is all about a DCF in the first case where the margin is zero or minimal and in the second case high profitability.
This has a number of effects: the high marginal cost producers are suddenly valued more highly, M&A activity picks up, financing for operations becomes easier and the retail investors start paying attention. But mainly, gold in the ground becomes more highly valued, partly because it becomes more likely it will be developed.
All that means is that suddenly RRR will have more people wanting to get their sweaty mitts on its gold assets. RRR has already confirmed it has signed NDAs in respect of its CDI gold assets.
But obviously, this like teaching my granny to suck eggs, what you with you being an expert on investment analysis. I realise you probably already know all of this and are just pretending to not understand because, you know that lower buy back in price ain't going to work without some help.
And since we are talking gold price: it is currently $2,097.75 but again you know this don't you? Gold was $1,925 6 months ago. That is a change of $200.
DYOR
Spec - I like you but that's a very generous interpretation of success. I think the market says otherwise.
As opposed to a non-shareholder pretending to be a shareholder posting links to gold prices and making outprices over $2,000 will be lucrative for RRR shareholders...or making statements like 'RRR is in a good place'
Even more pathetic.
Pick holes in my statement helpless or get back in your box.
Non shareholder sold out a couple of weeks ago hoping for a placing and being able to buy back in cheaper.
Pathetic.
Statement on 14/02/24:
We have been in constant communication with our country representative, our lawyer, and our local partner and matters to resolve the above are progressing. We hope for a further update by the end of this week or early next week.
Extract END
Any reason there has been no update or holding REACH from RRR in the last week or so on DRC...focus has simply moved on to the next shiny thing.
Lest we forget AB also stated 'days away' weeks ago.
At what point do these types of misleading statements become considered as fraudulent misrepresentation?
It looks like the market is calling BS and pricing this to fail with yet another new low share price spread today with some sells under 0.07.
It seems people only want to know when AB flies to Congo to p[ick up the elusive cash he's been talking about for ages... everything else is just more expense to RRR chasing the jam tomorrow dream.
Wouldn't they have been better spending additional money on a stronger legal team that can get results in the Congo and help Barry out with 'meetings'?
Banbury lots of positive outcomes but not the one I am hoping for (cash from Congo)
-Kenya licenses successfully re obtained
-multiple licenses granted in different countries
-multiple permits obtained in different countries for different exploration programs
-successful litigation in DRC for $2.5 million
-conclusion of arbitration hearings in DRC which now await the issuance of the decision
In sales meeting I heard that it took a 100 leads to make just one sale. Of course that mean failure occurred 99 times.
If any one knew the 1 success then all those failure would be eliminated but of course no one know before hand where the success might come from
I disagree with what RRR has been doing (better to have waited the past 2 years than get into new projects) but I understand the approach
Nothing to do with the renewal of the Migori licences then? And if you are going to CDI to meet other companies, why would you not stop in Kenya to pick up the connecting flight and deal with whatever needs dealing with in Kenya?
A lifestyle business is a business set up and run by its founders primarily with the aim of living or maintaining a certain lifestyle .RRR Has this written all over it
I recall he used to splash the cash in Kenya through various sponsorships which came to nothing.
To be fair he has had lots of visits to Africa over the last five years posing with waistcoats etc.
I'm not aware of any single defining event that resulted from these visits ( agreements contracts material progression of on- going projects).
I stand to be corrected. Can any else remember a positive event resulting from a visit ?
Https://twitter.com/Ole_S_Hansen/status/1764570342134009984?t=gbYn0vPSihvh7WyIZGR09A&s=19
DYOR
Https://twitter.com/ABell2019/status/1764565849082405377?t=23GVPoGwxBbIrDEWrrj0gQ&s=19
CDI to discuss JVs and alluvial would good. Burkina Faso to get things moving on the site works and bore holes is a must. They can't move the heavy kit in till they know they have a site with security.
DYOR
D
Looks like Bell is in Kenya and one wonders where else he may be heading
https://x.com/ABell2019/status/1764565703204483476?s=20
I honestly don't beleive shorters would be interested in a small outfit like this.
But I'm no expert.
I think it's just a trust issue. That will change when RRR finally get something over the line.
Honestly beleive shorters is the latest detract and deflect tactic.
All in my opinion and do your own research.
As AB sells all new issues to unnamed PI, which must change holdings % and does not enforce the holdings disclosure [ which is not I understand mandatory], he is not immune to a little jiggery pokery on the share front himself.
Https://twitter.com/jczuleta/status/1764529717204426998?t=jZn0DtQyNxMXODD3zUe9qA&s=19
DYOR
Shorters prey on weak companies. Its the nature of the market.
RRR is weak because of AB's history of misinformation and his constant printing of confetti shares.
The market is dubious with his track record that the Congo payment is not as he portrays.
How about some official paperwork Andrew Bell to back up your claims that the Congo situation is as you report???
AB reporting that shorters onto rrr? Not good. Bad. Real bad.
A cynic might suggest the 5th Feb Reach RNS which indicated payment was within touching distance was to enable the 666m shares issued pre Xmas to major PIs at 0.075p to escape with a profit.
Excitement on here was quite high.
The placing many suspected would happen was not forthcoming. We all know estimated cash burn.
I suspect an alternative source of debt financing has been secured. I find it weird the CEO came on here and said the relationship with Prime Resources Gibraltar had ended (the previous source of debt funding ). To me that suggests a new debt financing arrangement coupled with RRR will clearly we will be short of cash.
We are now all in on Burkino Faso. The gentlemans agreement with Riverside and my suspicion is RRR has some defered payments or loan as part of that deal ( as nothing in the world is free)
David Lenigas is a strange one little or no involvement (yet) and no follow through on the South American oil prospect. Conjecture but some disagreement on approach ?
ALR all on hold and the full 200 tonnes all now in Zimbabwe. Judge us by our exports has time to run. The RNS on the first truck leaving feels disingenuous but we are led to beleive from Helpful that was imprecise. So it's either one truck in Beira or none. Very slow start.
Posting on other board Elephant not on the next list for IPO.
No sign of or proceeds from Limon royalty.
No indication of asset sales or management taking salary cuts ( they said they would do that in the 2022 accounts if no cash releasing event).
So in terms of the here and now and company specific events (rather than links to gold price and neighbouring prospects) it boils down to IMO - DRC coming good or significant gold sales from Faso in the next few months.
My opinion only but still feels high risk and little progress made in two years since DRC was imminent excepting significantly more shares and debt which "dissipates" the ultimate DRC prize for LTHs.
Hoping for a good week for all holders.
Dukey, I am not the one making promises and then breaking them..
Https://twitter.com/KoboResources/status/1764322255645896715?t=u08IsOu_fZP9hDJPP02M4Q&s=19
Neighbours in CDI.
DYOR
DYOR
There is little doubt now, that if things continue, then Mr Andrew McMillan Bell, Chairman of Red Rock Resources will have to consult with the London Stock Exchange, the Nomad etc as to how to proceed next. At DL's co, everything stopped but I am sure SHAREHOLDERS informed the CEO of REM plc, who was no longer DL. News, Sun, 3 Mar 2024.
Its very regrettable but articles do inform that this is not unusual ie shorters etc. Mr Bell has tweeted that shorters are onto to Red Rock Resources Plc in recent days on Twitter.
On ADVFN RRR, "steveberyl, post 17425, Sun, 3 Mar 16:34 stated: "For more Kemche, LSE under nickname NEWS."
I confirm, steveberyl, that the ADVFN "Kemche" is NOT me. He copies my posts on the London South East in part/s, etc for reasons unknown to me. I do NOT post on ADVFN RRR for a considerable time now nor on Twitter re: RRR.
"Noirua" of ADVFN RRR, 2 Mar 2024, post 17421, 12:12 appears to have taken a dislike to the RRR DRC Arbitration discussion on here and issued the said "Medusae Fossae" which I have already REPLIED to. I checked "Noirua", also a poster on London South East and I found the following: "Noirua", LSE history shows, he went to RRR.L [a dead site on LSE] and posted about CLN,Placing etc of the "BANBURYBOY" of London South East school of thought but unfortunately, RRR has NOT issued any placing even tho the RRR AGM, 16 Feb 2024 in London, Article/Resolution 4 was passed on show of hands ie "Authority to Issue" [but NOT issued]. "Noirua" has also asked for the "Chief of AIM" [para phrased] to become the Executive Director of RRR [wonder if there is a conflict of interest here given the article/s written not in favour [British under-statement] of RRR?] and Noirua also mentioned one of the famous "shorters" [duo, one of which was dubbed most feared shorter but these days, post the Solgold short and nothing happened, no interest even if...?
DAVID LENGIAS
RRR has appointed Mr Lenigas to be a Strategic Advisor [Reach RNS] recently. In one of Mr Lenigas's co, long after he left, one blogger wrote an article, turned up on that LSE forum and told them that they are going to "close" down [para phrase] because he said to one poster there, they cannot sell their EMH shares as it was too large to go thru. Fast forward, Mr Lenigas former co of REM fame , not only exists today but has filed and engaged Clifford Chance, the leading international counsel to engage with the Mexican govt in relation to their losing SONORA, of which the Mexican Treasury has given a "official valuation of up to $600bn USD." One of the posters, a pensioner type [maybe not yet pensioned but a mature person] GOT A VISIT by one poster who was very against REM. This poster worked for a UK govt agency ie Tourism and told us the story via the forum but what happened then, no one knows.
IRONY
Once, both Lenigas & Mr Bell were the favourite and friends of .....but now, maybe Lenigas & Mr Bell in RRR may be not to the like of ...., hence like 101 on shorters, those who support RRR may also earn the "not liked" status. Even Mr Bell's private residence has come under discussion by "Banburyboy" of the LSE. Oh, there is a "Deputy AIM " as well but I do not know the name except he is an accountant from what I read?
Let's hope like DL's co, it can go on to success [they bought a iron ore project from Anglo] here at RRR. I have read an article about stock shorters and their last resort is like what I stated above. All well known.
As soon as you do helpful ?
P.S I have now made my point to Mr Bell and there is no need for further posting on the DRC arbitration from me. Other shareholders could not also attend the RRR AGM in London on 16 Feb 2024. I am sure Mr Bell will take in our positive comments going forward as we, shareholders would like to see this co do well and obtain the initial arbitration award in the DRC. On Genesis 12:3 as my final defence to "Medusae Forssae" [& the rest] on the other forum as said about what was posted on this forum about RRR DRC litigation, there was NO choice left. I waited for the poster to delete the post in 24 hrs but he did not do so. Yes, Genesis 12.3 is a privilege of which my Gramps said: Heaven has eyes. I am not sure why this was pronounced on me as it has NOTHING to do with anyone re: RRR 's DRC litigation unless it does not suit the shorters as Mr Bell tweeted re: shorters [Mr Bell in recent days said there were shorters onto RRR?].
Sun, 3.3.24. With that, I can now take my leave.
Well Dukey, no knows more about departing than you! How many times have you promised to wind your neck in and stop posting?