Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video 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.
AB says we may leapfrog into a different orbit. Just hope it is into a better place than he has led us to before.
Agreed - good synopsis of where the company is up to and a good route map for 2022
It looks like things are finally starting to move and there should be enough good monthly news to maintain or drive ourShare price forward
“Do we have enough capital to drive all projects forward?" - let’s see how the court case goes next week - we’re apparently suing for our current market cap and that’s just the start…… does that not double the SP in one go if we can get settlement?
"Investors will be Materially Rewarded"
https://twitter.com/StockBoxMedia/status/1476821679401848842?s=20
If it gets to a penny more people will be happy! Fair value has to be higher than that, it will be an interesting few weeks.
Penny beginning to drop.
'the other are NEDs. What being an NED means, is that they pretty much don't get involved'....
I would like to see these NED's buy stock on market. They are not inside like AB or could make themselves not inside. Yes corporate governance but there are a lot of NED's that can fill a board and actually buy their own company or give more in terms of market promotion.
The board should support the shareholders and become significant or major shareholders themselves. They take significant salaries and not just the usual NED salary yet do not buy stock like the average retail shareholder. Support the share price and build a position like the Directors hope others will and maybe more retail investors will believe and buy themselves. Not rocket science.
There is a squeeze on the share price at 0.5 - very hard to buy and being soaked up when sells come through. Let's hope AB does not kill any momentum.
Helpful O.K if I look at AB fees and bonus they have gone up 25% from 85k to 105k. He does look after himself in my opinion.
Read the report, it shows clearly that they have taken on a new employee. AB has referred to him multiple times. He is the data manager for all the exploration data that they are building up.
Helpful you are right AB needs to stay a little longer to see things through though I hate to say it.
No Helpful they have all looked after themselves. I also do not think a bonus is in order. If things do go very well next year then maybe. They also benefit in the company share scheme I think. I have been a shareholder here for years and AB always hypes up things including his salary.
You need your head examined not the major shareholders.
NBGC/RRAL is about to list. That needs doing; AB will be an NED. Nothing must get in the way of that being completed. He is the one that is pushing it through the system not Paul Johnson.
Migori is getting to the stage where we have a decent amount of drilling done and we should end up with an upgraded JORC. Migori is looking better for some corporate action: either selling it, JVing it or spinning it out. Again, AB is critical to that process. Whether AB likes it or not Migori is getting to the stage that it is too big for RRR to progress on its own. He thinks that there is up to 10mil ounces of gold at Migori: that will cost more than RRR can afford now or in the future. And that is regardless of Elephant Oil and NBGC/RRAL listing. Even if he sold the whole holding in Elephant and NBGC it still wouldn't fund the work at Migori. On top of that he has other stuff that needs funding.
But most important are the legals in DRC. AB has to stay in place to guide that through the DRC court system in respect of the VUP case and then deal with the Glencore case in due course. IMHO the likely outcome from these two cases for Red Rock is a multiple of the current market capitalisation. The next hearing in the VUP case is not far off. At the very least RRR should be due 50.1% of $20mil. However......
Is that the $20mil the full amount paid over by Glencore? Why would Gecamines get involved with a backdoor deal for VUP to benefit by $20mil? If Glencore was willing to pay $20mil via the backdoor what would they have been willing to pay via the front door?
Getting rid of AB now or in the short term is a recipe for the destruction of RRR's value. If we binned AB, who else is going to pick it up and make sure we come up with a decent result in DRC? AB is the one who has all the relationships, speaks French, knows all the parties involved, including the advisers, and was intimately involved with the JV discussions: the other are NEDs. What being an NED means, is that they pretty much don't get involved.
DYOR
They have taken on a data manager for the mining exploration. If you look at the note below Staff Costs, it gives the number of employees.
'We expect investors to be materially rewarded for their support over the course of 2022'
The above statement is made under 'Outlook' in the RNS, let us see, is this another Bell 'promise' that never materialises along the lines of the statement he made in Q2 this year when he said this would be the year for a material re-rate of Red Rock.
Trust is a major issue with this company, I am no longer prepared to support Bell in anycase and will be voting for his removal at the AGM UNLESS something material happens before then.
It is worth noting that only around 20% of the issued capital was voted during the General Meeting in March so small investor votes can easily sway things.
If the major shareholders keep Bell in power they really do need their heads examined, he promises so much but NEVER delivers
It is mentioned in the notes that funding will be required or disposal of investments. Also mentions the possibility of directors reducing or foregoing their salaries. In the last year the board have increased their salaries including bonuses by 21% so do not think the board will tighten their belts anytime soon.
With 62k in the bank it looks like the rest of the Jupiter mines stock will be sold down. If elephant oil lists soon I would expect that to go as well as non core. I can’t see POW shares being traded just yet with potential upside in Australia but could be wrong. With 1.6 million in liquid assets it’s not looking too bad.
The drilling is obviously munching up the cash but I’m pretty relaxed that Kenya is still worth more than the companies mcap. NBGC might be as well. As always though my feelings are will any of these territories going to come into production or should they be sold off to concentrate on Australia?
Some interesting tidbits in there.
Not sure anyone today would worry about warrants if it hit 3.4p like POW did! Bring on the DRC assays and as stated on the 16th November:
Other
-- Red Rock is researching lithium opportunities in the DRC pursuant to co-operation agreements with US-based third parties
I read the New York Times article:
Who Are Congo's Cobalt Entrepreneurs?
Dionne Searcey and Eric Lipton
• Reporting from Democratic Republic of
Congo
I will be happy with any good news with this share. It will be interesting to see if AB can get any joy out of the DRC saga. He talks a good job but we shall see if he can ever deliver.
There is some significant debate over on the POW bulletin board about the stifling effect their low price warrants are having on the share price, at the start of the year they had over 250m warrants priced around .70p compared to the high of 3.4p - the shares have fallen to 1.3p as conversion after conversion occurred with underlying stock being sold in the market.
I took a look at Red Rock warrant situation and it is very good in comparison.
137m @ 1.2p conversion
50m @ 2p conversion
56m @.90p conversion
71m@.70p conversion
All the above are well dated with expiry between 12 and 24 months, current RRR share price .45p
So when the share price starts to recover we do not have to worry about warrant conversion and forward selling of the equity.
Good news.
I was hoping Andrew Bell might actually pull something out of the hat but not surprised he hasn’t.
Hopefully January should be better for news flow.
Bell is up to something which may be material in Kenya, during a recent interview he mentioned they are seeking a mining licence and implied that news would be forthcoming as to why. It does look like some form of early revenue could be coming from Kenya or maybe a deal with a partner.
It is interesting that Caracal Gold and Red Rock management have distanced themselves recently despite strong rumours something was cooking a few months ago.
Yes I'm pretty sure that $1 million prom note is still outstanding.
This 2018 rns outlined what would need paying to Kansas if licenses were renewed.
https://www.lse.co.uk/rns/RRR/progress-report-african-exploration-assets-5s1il4w8nfrg1yr.html
In 1st March 2021 RNS rrr paid Kansai the $2.5 million in cash. So come Feb 2022 let's hope RRR have saved $1 million to pay Kansai.
So RRR has to pay $1million in February - is this debt still outstanding?
Are you suggesting now RRR have 100% interest in Kenya it is easier to obtain a JV after the drilling results are complete?
Hopefully this is the reason the board appointed Alex, or maybe any new board member is Kenyan related and can attract a JV partner?