Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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So on further reading, it looks like Ajax/Daylesford and Berringa are the two stars in the portfolio (so far). Mt Bute is interesting but nothing fantastic: maybe it needs more work on it decide where the gold actually is.
DYOR
Well that reads okay.
No I don't think so, maybe you know better being an expert and all that good stuff?
Another dart at the dart board.
He should give up and try tiddlywinks instead.
TDT
So AB saying he won't come back without a deal and the proactive interview saying it's done 2 weeks ago was not wild and false comments ?
No. It was already done.
Next wild, false accusation.
Still no news from the Congo. 2 weeks after the proactive interview where he said he got everything he was after.
Did he put fake news out in the interview to get the recent funding completed ?
specinvestor99
You clearly don't understand junior explorers MO. They don't aim to bring projects into production. Their objective is to prove up then punt on to somebody with deeper pockets and greater expertise.
Irrespective of whether less than 1% make it into production or not who else on AIM has had as many throws at the dart board as Bell? If he keeps throwing and keeps on missing what does that tell you (apart from the fact that he's zhit at darts)?
TDT
Please google the % of exploration projects which becomes a mine
Answer less than 1%
In any IMO the future is why I am here not the prior results.
"AB says all projects are good (no surprise there as every company does not that."
Ignoring the English and assuming I've understood what you are saying namely ".......every company does that." I'm hard pushed to find any CEO on AIM with such a large back catalogue of abject failures. When you add Regency Mines into the mix then all the duffers here a Red Rock its and absolutely staggering number of ventures presented as the next best thing only to end up dead and buried.
I think Bell is the go to mug that anybody with a worthless piece dirt in the mining industry goes to if he wants to pass it on.
TDT
Banbury- I am assuming we are all native english language speakers and as such Kimi did not make the points you are now making. and I agree
-AB says all projects are good (no surprise there as every company does not that. I would be shocked if you could find any CEO anywhere who has said we just got this project and its a piece of Shxx
more to the point AB/RRR like every other public company do have the capacity nor the regulatory authority to state what 'value' to place on a project. More importantly even if they did would any one have believed AB if he had said 2 years the VUP properties were worth $200m +
-AB/RRR has a history of acquiring multiple projects far beyond the capability of a mid size company to handle much less a a very small one
'Even a blink squirrel finds an acorn every once in a while'
However despite those valid points RRR/AB is at this point in history with a pending very potentially arbitration award pending.
You have to be brain dead or completely uninformed to think he has ignored this asset.
Specinvestor - most on here get Kimis point.
Bell is an opportunist and would present a t**d as a golden apple. The fact he has ignored this most valuable asset for so long rather than screaming from the hills about its value is highly suspicious and not Bellesque at all.
Kimis point is around the nature and character of the CEO. Agree that's not absolute fact and opinion but Bell has a long form line which timeform would describe him as "poor and ungenuine platter" It would read F.F.PU.F.F.Rfused.F.F.F.F. Not to say he won't win or be placed this time but a long shot based on a long record. To be fair I'm sure Andrew and his immediate family are doing well but that's not relevant to RRR and its form book.
I genuinely hope it does come good for you all and I will be the first on here to say we'll done.
Kimi LOL I covered all your points and then some. You just dont want to engage on actual facts.
The reality is RRR was doing work in the Congo IMO not much but some. RRR was in fact focused on activities such as Elephant or Australia or even Kenya but is that really surprising given the amount of funding RRR had to work?
Each project has its own set of unique obligations which have to be balanced at the RRR corporate level to keep them all going. It could be justifiable to say RRR had too many projects given its funding capabilities but outsiders dont have the same level of information that management does.
The reality is now facing RRR shareholders. The Congo award (no matter RRR got it here) is potentially very significant
https://m.youtube.com/watch?v=4dok4erOvig
In the first minute of this video he looks very pleased that the JV was now watertight.
I’m sure I read or heard the content of an interview that AB was kicking himself for being too vocal about what he had said and documented.
His thinking was that he told too many people how good the asset was and consequently …..it was nicked !!!
Have a good weekend
totally missing the point Spec, as usual, but OK.
Kimi your points are made with a total disregard for facts. Congo is in fact mentioned in the 20221 chairman's letter and is in referenced in all the prior half and annuals reports. Details on Congo are also on RRR's website
This all just misdirection and not relevant to the very specific issue RRR's shareholders are dealing with--a pending decision from an arbitrator
No one seriously thinks the arbitrator will look at RRR's annual report and think OMG
AB only mentioned in Congo in 2 or 3 lines so therefore I am going to cancel the prior court judgements or AB did not talk about Congo enough or how dare AB discuss Kenya or Australia or Elephant Oil
This is pathetic
I guess thefts must not be very common in the UK. Unfortunately for the rest of us in the world they are far too common.
By definitions any discovery of a theft happens AFTER it happens. otherwise it would attempted theft.
In any event I know of now known timeline of when it happened, the date of discovery, or when RRR started action
Nor is RRR the sole decider of the 'facts' RRR will obviously want to place a high value both publicly and in arbitration.
A JV asset was sold and a partner took the first 5 million, until decided by the court the payment could have for payment of a debt or in accordance with the JV agreement. Creditors should always get paid even if those creditors are also owners/ equity holds.
NO ONE can prevent theft or fraud from happening. without a doubt I suspect some level of theft exists at all companies of any significant size. Even if it is just for a pencil
IMO AB has done a fantastic job on this. Even though I have been critical of misinformation (NOMAD translations, news conference) and the lack of details on the arbitration etc.
All here and all RRR shareholders should give AB credit where credit is obviously due and owing
I stand by my comments. If he knew how valuable it was then why do nothing with the asset in the last 3 years? Hardly any mention of it in any of the half or annual reports since mid 2019. Then all of a sudden it's the most valuable main asset for RRR. But not once mentioned in any detail in his Chairman's statemtent (waffle). Total bull****.
p.s. It's not a good quality turning into an unpleasant character whenever someone disagrees with you on the internet. It happens time and time again with you. Unfortunately all the hallmarks of someone who is overextended in a share. Truly sad to see, but I hope the stock does turn around for you if that's the case.
You obviously have issues and need help.
This is a quote from your earlier post:
"I put it to you that he had absolutely no idea how valuable the asset was until all of this shady dealing took place."
I have just posted two videos that showed he did know that he had something valuable. He directly quotes the Nzurri Copper/Chengtun deal for the Kalongwe asset: https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/chengtun-mining-subsidiary-s-takeover-of-congo-focused-nzuri-copper-takes-effect-57528590
Chengtun paid $110mil for 85% of the Kalongwe asset and he explicitly says that RRR had something better in Musonoi (there were two further licences on top).
The Gecamines/Glencore/VUP deal was a corrupt transaction where the parties went to great lengths to obscure what had happened. Gecamines is the DRC para-Statal/Regulator of the assets. If Gecamines wants to obscure what had happened, how exactly is RRR supposed to know. All it knew what was that suddenly it had no access to the assets and it was being fobbed off by both Gecamines and VUP. Until the court case there was nothing in the public domain that RRR could access. For instance the transfer of the assets had not been registered on the Cadastre (look it up).
So instead of trying to change the subject, why not just acknowledge that your accusation against AB and RRR was a complete and utter misrepresentation and that if you had done any (ANY) research you would know that.
Anyway, I have better things to do that deal with you. I suspect that by the end of next week you will be shut once and for all.
DYOR
Sorry what licence hasn't he said he's "very excited" about and described as an "excellent" asset? Doesn't mean anything if you keep repeating it for everything acquired in the past 17 years (happy 17th listing anniversary btw - still a tiddler on AIM, so much growth!).
"He might not have known what the price on the crooked transaction was but why would he?"
ermm because he could calculate the asset value and look at similar deals and ventures over the past 3/4 years. Pretty stupid question, Helpful. It's potentially a company maker and he didn't protect it at all costs. He found out about the sale through a third party. It is comical.
Interview from February 2019
https://www.proactiveinvestors.co.uk/companies/news/312125/red-rock-resources-delighted-as-work-towards-jorc-resource-at-musonoi-mine-advances-12125.html
First line confirms exactly what he thought of Musonoi in 2019.
On the core in the Gecamines Core Shed he had a team of 12 finding and sorting the core and prepping it for sampling. Then suddenly we we denied access with no explanation; we now know the reason.
From March 2019
https://www.proactiveinvestors.co.uk/companies/news/215920/red-rock-resources-says-cobaltcopper-joint-venture-in-the-democratic-republic-of-congo-now-fully-effective-215920.html
Famous last words on this one but "we have something immense"
If you watch both of those videos you will see that AB knew exactly what he had. There is another earlier video from when we got the licences where he is more explicit and precise about what is there but I can't find it. In it he explains how RRR got the licences and what he was promised was there: at least 400,000 tonnes of copper and 24,000 tonnes of cobalt.
So for some know everything person who doesn't check anything to say he didn't know what it was worth is ludicrous.
He might not have known what the price on the crooked transaction was but why would he?
DYOR
Step by step …. Let’s first judge AB against the 51% of the $15- $20,000,000 that was allegedly paid to our partner (VUP) get the illegal sale done - then he can chase the rest (it will take years) after getting RRRs more immediate projects up and running.
I’m sure there will be costs and % giveaways to get the deal done so anything above $6 million should be viewed as a good result in my mind.
If it’s $8.3mm then the company value doubles and the share price should be a multiple of that as AB now has the working capital to complete value driving projects.
Please remember this company has no income, is propped up by regular loans and share issues so if you don’t like the way it’s run then I’d pray for a share price jump and then exit leaving the rest of us to get on with things
Fingers crossed for something early next week and best of luck to everyone.