The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Hahaha Recon Energy... Yes DYOR indeed. Viceroy's research reports make for enlightening reading.
A bubble that is ready to pop but thank goodness that EOP is right next door. Whatever "Helpful", keep pumping these ****e investments!
EOC has a block adjacent to Recon Energy:
https://reconafrica.com/
Market Cap CAD752mil
https://money.tmx.com/en/quote/RECO
DYOR
"good news or bad news will have an impact on that share price" - no **** Mr. Buffett
LOL What if Elephant Oil actually finds oil? $7 million will create more information. good news or bad news will have an impact on that share price
Elephant Oil IPO is being well received then... IPO documents state that it was looking to raise $20m in March. Then down to $15m in Aug and now only $10m in the latest filing in Oct.
The management estimate net proceeds of only $7m resulting in a 40% reduction in proceeds outlined for exploration and paying licence fees.
So either everything has got a lot cheaper (ha!) or the sounding out process has been poor and now management are praying to get it away for much less. $7m will get spunked straight away and the company will be back for a discounted raise in short order. If AB has absolutely any sense at all he will dump the lot on IPO (if no lock in!), the shares will only go one direction and it isn't up. Par for the course when it comes to RRR.
The last Bell Tweet was 15 hours ago, does that mean he is on his way home ?
As mentioned before not a whimper from him concerning RRR business on this trip to the Congo, one or two larger trades have been going through the market over recent days however, they look like buys as the bid has been gaining strength.
It is one big guessing game, will Bell deliver the $7.5m cash this time around ?
RRR's indicators are trending upwards and volume is up today, someone seems to be accumulating, hopefully one or other of the Elephant shares or Congo cash will come in soon, if not both which would give a nice lift to the sp and value of RRR.
Picking up today. Is AB going to finally deliver for shareholders?
I don't suppose he will be using that imminent word for a while. But there again you never know with AB.
Bell is still tweeting away furiously on his private account, one can only conclude he is still in the Congo bored in a hotel room, what should have been a 2 day visit has, once again, extended significantly, now 2 weeks.
The significance of this is unknown, interestingly there has been nothing from him this time around, no photos or hints of progress concerning business matters, his colleague in country Barry Kazadi has also remained quiet on Twitter.
Who knows if progress is being made, is that $7.5m - $9m any closer to the Red Rock bank account one wonders.
The S1 and presentation is on the SEC website. Just keep an eye on it there.
'very, very soon'.... Heard this morning Spartan Capital have started marketing and raising capital for Elephant Oil and the IPO should be next week or latest second week in November. Not sure of the IPO price but have raised a substantial amount.
Helpful, can you confirm this to be true?
RRR benefit - IPO price range:
397,873 x $4.15 = $1,651,172
397,873 x $5.15 = $2,049,045
see https://twitter.com/RRR_RedRock/status/1584824340234833921/photo/1
Can positive news be coming soon?
AB confirms he is still in the DRC…notice his first tweet on Copper in a while.
https://twitter.com/abell2019/status/1584519656605618177?s=46&t=vqWz1WPMH2mPG-jUunrd6A
Noticed the tick up with just 400k shares.
How much stock is available under 0.5?
I concur with the post below and have added to my position at current levels, also noted there appears to be a constant buyer of RRR if any material stock comes onto the market.
There does appear to be some positivity around the retail space that the junior resource sector has bottomed out, hardly surprising when some stocks are down 90% from their Q1 2021 highs, combined with upcoming news-flow across 3 or maybe 4 areas of RRR's portfolio positive sentiment could return quickly.
Also worth noting, over a number of years, buys of Red Rock below .40p have offered good returns, buy low sell high !
In my opinion we've heard a couple of times from AB in StockBox interviews over the last couple of months that the arbitration has been won (stated the other side 'lost').
His last interview which is worth listening too states he's in the Congo until its 'finished'.
The other party needed to sign a paper which when that happens there will be a regulatory requirement to announce. AB's silence for once maybe a good thing rather than a bad one. Being in the Congo everything will be achieved and the longer it goes on the closer to news.
It is obviously how people perceive and past performance isn't great but if it is signed and RRR get that amount of non-dilutive money you won't see 0.4-0.5 again.
RRR also have assays to come from BF and an update on Elephant Oil which cannot be far away now and worth a couple of million US$ to the company.
https://twitter.com/StockBoxMedia/status/1578387305118695429?s=20&t=XmI1U6qwIffrPScZQ6juaw
It is also notable that any large sells under 0.4 are being bought very quickly and the share price moved to 0.6+ very easily last time AB was in the Congo. Just imagine what price it will be on a positive RNS.
Risk/Reward is in the Reward box for me, GL.
what is going on? AB has been in Comgo for what? a week? no news. this is frustrating The last update on Congo was August 5th
"The arbitral award, when and if made, and we hope it may be soon, will not now reflect a consensus arising from the negotiation of the parties, but the decision of the arbitrators. As we await it, we must consider a range of possible outcomes, and uncertainties of timing, but continue to press for a just solution which includes a resolution of the earlier court proceedings."
https://www.junominerals.com.au/investor-relations/announcements
I hope he is keeping quiet because there is imminent news, but I suspect he may have got his knuckles wrapped for his communications fiasco around his last trip and perhaps realised that it made him look a little naive thinking that he would get a wodge of cash in such a short time - these things take time - months at best.
Bell is still tweeting and re-tweeting furiously so one can only conclude he is still stuck in a Congo hotel awaiting meetings and has time to kill.
One thing that remains, he is deadly quiet concerning affairs in the Congo (seeking RRR cash payout of $7.5m to $9m) so is that meaningful or not ?
Thanks ECR is up 15% on that news see https://www.lse.co.uk/rns/ECR/re-assay-of-creswick-diamond-drill-core-reveals-high-grade-results-including-07m-4775-gt-au-thi1wmeokdaheaj.html
hopefully we get news on the Australian iPO
https://twitter.com/nbgoldcorp/status/1582697642127081472?s=20&t=jYpRz6ALvpPQZCHp0QA4_Q
Check out the ECR Creswick RNS. We have land that abuts it.
Huge spread on the L2. Two MMs sitting on both the offer and the bid. I don't think I have ever seen that before. Looks like some of them don't want to make a market.