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Why sell any AB ? IS the salary for 15 years of failure not enough ?
To me there is a difference between words and actions. In this case AB bought RRR shares in his pension account both the buying and the buying in his pension account are very strong actions.
"Just shows how little trust there is what AB says anymore."
You'd have to go back a long way to find what little trust there has been in AB and even that wasn't around for very long.
TDT
Even with AB buying shares we do not have lots of people buying here. Just shows how little trust there is what AB says anymore.
AB purchase of RRR shares is consistent with the last RRR RNS and upcoming arbitral award .
An award at least equal to current market cap should double the current share price with more awards/litigation to come of 10x? (or is that my wishful thinking?)
Andrew Bell purchasing a net 8.5m shares around 0.52p must send a positive signal, AIM executives rarely throw their own money down the drain, must feel positive concerning upcoming events.
https://www.investegate.co.uk/red-rock-resources--rrr-/rns/director-pdmr-shareholding/202208081017172508V/
Thanks Pizzagate, it made me smile as I was close to tears after watching the interview.
Thanks for that PizzaGate, I ended up watching several compilations of old UK and American Adverts and then old TV show intro's after the Um Bongo advert. Nostalgia, great stuff hard to stop once started.
"quaffing the finest bubbly".... drinking Um Bongo more like!
https://www.youtube.com/watch?v=wYj5o4kQsXs&ab_channel=TheUmBongo
Yes the Congolgese court judgment would be enforceable but the real question: "Is it collectible" IMO those funds are long gone. Hence AB/RRR have been focused on going after where the $15 million cash is held by the purchaser who has the funds and is ready to pay BUT they dont want to be dragged into this mess so they want binding instructions on how to pay (which would the goal of the arbitral award)
Arbitraton issue- AB said Presidency. I am not sure of the reasoning behind the process Perhaps its because it is a governmental quasi controlled company
Reading past RNS.s.
Jan 22 - the Congelese courts awarded RRR $4.5m against our ex JV partner. I'm assuming not enforceable ?
The asset was sold for $20m and the buyer has retained $15m pending arbitration. I guess the fact the buyer has this money is a least a small positive.
It was probably the president of the champagne club where Bell was quaffing the finest bubbly at shareholders expense for 6 weeks.
Wriggly people eh? None more than our glorious leader and his spickel litte Helful. Nevermind, I'm sure we will be hearing that it was always about the gold and that will be getting shoved down our throats till the next fund raise, I'm guessing DEC.
Specinvestor - yes me to.
Presumably the process was run by the Congolese Courts or Government - but not sure the Presidancy would be involved.
Helpful may be able to clarify ?
I found it interesting that AB stated that the arbitration hearings were conducted by the Presidency. I have no experience in the Congo but I would think that would be unusual.
I am as impatient as every RRR shareholder but imminent does not mean SOON. It means "likely to occur at any moment"
The hearings have been held and RRR awaits the arbitrator decision. It could be today or months from now. The exact timing is unknown. Of course AB is positive and believes/hopes it will be soon. IMO AB is his own worst enemy in setting expectations.
These are high stakes negotiations with the other side clearly pushing for their own interest. A discount was proposed, presumably accepted, but the other party decided to go for a bigger discount. Perhaps not handled in best manner but such tactics (although frowned upon) are unfortunately not uncommon.
"I imagine........" so I don't know anything but let me make something up.
AB is a grade one pl**ker still making rookie mistakes. There was no way there would be a settlement without almost giving RRR position away not far short of free. Plus arbitration with already difficult parties is always protracted. I imagine the other side thought that RRR was on the ropes financially and attempted to take advantage but failed, so on this count, at least AB did not roll over and we live to fight another day or at least another six months before AB puts his hand out again. The one thing I will give AB credit for is that he is a good serial story teller and just maybe there will be a happy ending as was the case with Jupiter.
https://twitter.com/RRR_RedRock/status/1555467919907241985?t=CDGRGp4D8XAaDkctmcD4MA&s=19
He didn't need to put something out, sometimes it is better to say nothing at all prior to big news and momentum has been built up pending the outcome. Was a poor RNS and feeds to peoples opinion of Andrew which then kills the momentum.....but that said it does give an opportunity and I've bought and will continue to do so into selling.
The company is now funded for 6 months (maybe) and the result will come reading between all the lines
GL
What a clown. Successful trip and imminent arbitration ruling turns into this pathetic update. The company cheerleader keeps mentioning wriggly people - I guess he must be referring to AB. He didn't even know who he was negotiating with, doesn't know if he has the authority or changed his mind! How has this man kept his job for 17 years?
Well at least now everyone on this BB can see that AB has zero credibility if they didn't know already, same goes for his little lackey "Helpful".
"it cannot be assumed that an award will be made" - don't worry Andrew, anyone with half a brain wouldn't make that assumption.
Why is it you always live up to my expectations?
"Keystone cops stuff"
Not really. The Keystone cops are funny, this is not funny, it's tragic.
"Helpful on the phone to Andrew Bell giving him another earful"
I doubt that. I think he'll be asking AB to lube up properly next time. It can't be pleasant have AB's hand up your arze working you like a glove puppet all the time.
TDT
Kurt - the fact Helpful is even posting given his closeness to AB is seriously worrying. Please reccomend this post if you wish to reccomend Helpful moves on from the bulletin board.