If you would like to ask our webinar guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them 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.
why dont the shareholders help out and give money to RRR? This would certainly help out the company
Someone suggested AB might want to not claim his salary for a while to help things along but I do not expect him to reply to that suggestion. Perhaps he could help us with a loan?
my observations
1) AB/RRR have consistently been optimistic about timing. Part of the problem is a-nature of personality b) too many projects c) there are almost always delays on anything new-since its never been done there is no reliable benchmark
2) ELEP- there has been no update on the IPO which is very surprising to me since previously multiple web sites had posted that it would soon happen. At this point I would guess that their SEC prospectus will have to be updated with more current financial information.
3) Congo- still well within my original estimated time frame of 3 years and am still convinced this will happen. The problem of course is RRR is underfunded with too many other financial committments
4)Lithium-this project still has the potential to solve RRR short term cash flow with any Congo happening
my guess would be a comprehensive update from RRR on their activities within the next week unless their an RNS on something specific
soon is relative- I worked in Mexico and other places where 'soon' meant sometime in the next 3-6 months. Never underestimate language and cultural differences
AB on telegram saying DRC
Soon
Lol
AB on telegram saying DRC
Soon
Lol
KimiR the man has me speechless to be honest.
How can you not be concerned already? You have the weight of a death spiral with no hint of cash flowing into the coffers. What happened to the EIA for Zim which was expected by early Feb? Surely not a case of AB talking out of his **** again!
robins
Same old, same old then!
TDT
Anyone know if any progress with Elephant Oil? And anyone getting concerned that the Congo money is taking too long? Has AB been talking anywhere? All seems very quiet.
thank you for the explanation. I misunderstood your post.
Spec, you have totally got the wrong end of the stick here. The Gold bit refers to the asset that was being reversed into a cash shell (the RTO): it is a gold asset. Absolutely nothing to do with RRR except that they placing a post money valuation of £6m on something that is nowhere near as good as Migori or Victoria. It demonstrates how undervalued Migori and Victoria are.
DYOR
He's not talking about an RTO which has a connection to RRR. It's a read-across in asset & listing valuation.
I heard of an "RTO" but that was not what was posted.
It was "Gold RTO" So basically he is suggesting starting a new company then pump up its share price and then take over RRR? LOL this would require a fairness opinion before it was submitted to the exchange, which most likely never approve such a thing. It would require RRR shareholder approval and any material RTO shareholders would not be permitted to vote as RRR shareholders.
I suppose by calling it "GOLD" it somehow conveys that it has real value as oppose to a scheme to deprive long suffering RRR shareholders value from their own assets. No wonder there is so much negativity about AB the crooked group wants to step in. Put up $2 million cash, some flaky assets and take control of 10+ million cash plus tens of millions of other assets
what a scam
PS it is a gold asset.
"worked for major brokerage company and have over 40 years experience in finance" but has never heard of a ****ing RTO. Blimey!
When are we going to see money coming in? It just never seems to happen with AB.
RTO stands for Reverse Take Over.
It is where you have a shell or cash shell listed on AIM or another market where the shell enters into a takeover of another company or business. If the existing shareholders end up with less than 50% of the merged companies or it is a material change in the shell's business it is referred to as an RTO.
They have to issue a new listing document which takes about 3/4 months to put together and costs £200k/£350k to put together; so an expensive process.
This deal was £2mil pre-money for the shell, £2mil in shares for the asset and £2mil new money. So post raise, £6mil capitalisation.
DYOR
What is a "Gold RTO"? never heard of it? is this a British expression?
Just been sent a gold RTO; £6mil post money capitalisation. If they manage to get that away then Migori has got to be £30mil plus and NBGC £10mil plus.
DYOR
Is there a better time?
I doubt the: DRC - 'Mr B .has his cheque for 51% of $15mm' will be a 7am RNS
Like you Robins, I thought today was going to be good news day?
It’s not like there isn’t a lot to say:
ALR - waiting for second Environment permission - then simple dig and sell production can begin
DRC - Mr B .has his cheque for 51% of $15mm
Expensive funding agreed in Dec not completely needed
Joint venture on another asset announced
Case against the mighty G commenced
3p takeover bid for all of RRR assets
Then the alarm clock went off and it was a “silent Monday morning” !
Fingers crossed for later in the day, week or maybe year
If that late £35k trade on Friday was a buy dare we expect good news on Monday?
So 15th Dec they raised $500k
Before raise 1.322bn shares
On 15th they issued 45m shares with 17m as a fee.
Today it's another28m
Plus $274k at same price and $78k fee. Say that's £290k at.25p price = 116m shares
So the fund raise of $500k has cost 187m shares
Dilution = 187 m new shares on 1,322m base -= So 14% dilution. Very expensive and more to come as were blown trache 1.
buy price is below mid, I just picked up 100k @0.345p