We would love to hear your thoughts about our site and services, please take our survey 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.
Price on the way back up on the 7 day chart.
https://goldprice.org/
Hidden in the depths of the Red Rock website and interesting
'we await inflows, potentially large in relation to the size of the company'
Also refers to the listing of Elephant Oil, its been a while since this was talked about but Bell has referred to a value (to RRR) circa £2m if I recall.
https://www.rrrplc.com/wp-content/uploads/2022/07/2022.07.25-RRR_GM_Chairmans_Letter-WEB.pdf
Regardless of the in's and out's of the monetary outcome in Congo I have noticed that some entity or entities are buying any loose stock that comes onto the market, I see this as a positive .
What is obvious is that information leaks out, what is clear is that some individuals have more intimate knowledge of events in the Congo than us morsels on this bulletin board and are probably taking advantage in a stealthy manner.
If as Bell suggests the licence was sold for $430m soon after it was stolen from Red Rock the stakes are VERY high indeed, at £7m m/cap Red Rock equity is stupid cheap.
still waiting on NOMAD to translate documents and the news conference which were so 'helpfully' posted on this board
NB - I am long on RRR and believe in its future. My opinions are just that opinions. I try very hard to make a difference between my opinion and facts.
If you do not believe that it is possible to lose in arbitration then you have no experience in business or finance.
I am not saying it is likely or probable but no matter how remote in your opinion you should be able to admit that it is a risk
Particularly in this case when we dont even know what was being arbitrated (at least there is no public record) but then you are only 'helpful' when it suits your purpose
In your opinion.
Helpful - you are mistaken the minimum award is not $215M but -0-
but I repeat there is no disclosure regarding arbitration-who are the parties and what is being arbitrated
for all we know the pending arbitration is about the venue for the next proceeding
Did wriggly VUP agree to arbitration and agree to abide by the arbitration decision?
Did Gecamines agree to abitration and agree to abide by the arbitration decision?
What specifically is the arbitration about?
The RNS didn't go into any detail about the arbitration.
Specinvestors question was a perfectly reasonable question yesterday.
"Once again I ask What is being arbitrated and who are the parties?"
I was hoping for a fireside chat with champagne at least considering the millions he is going to get us or was it trillions?
Well that is another shaggy dog story but one that might result in more upside for RRR if the dice fall favourably. I will let AB keep it to tell everyone in due course as a fireside chat over whiskey video.
I see that Bring Mineral was the other party to the JV. Was it party to the fraudulent sale or is it also trying to recover funds owed to it.
Originally, it was 1620 Capital which became Bring Minerals. My understanding is that BM is now in administration but I could be wrong.
Who owns the remaining 24.9% of the JV? Mr Bell said RRR owns 50.1% and the party (VUP?) that fraudulently sold the asset owns 25%.
The $430million the asset was sold on for is a staggering amount and Bell said he would fit for every cent that is rightful owed to RRR shareholders
So I waited to see if anyone picked up on the important new information in that interview and no one did.
$430mil v $250mil: that is a material and precise variation. It could be that AB mis-spoke as the Americans like to say. I checked, it seems he did not.
So the minimum award that RRR should get moves up to $215mil ish less whatever is the final number that it receives from VUP/Gecamines plus damages and plus costs.
So that ends up being quite a substantial amount. The maximum settlement is obviously much larger and what RRR might settle for is another number again.
It may be about to get interesting around here. Once VUP/Gecamines is sorted, then it is on to Big G.
His comment about being worth hundreds of millions of pounds shows where his mind is.
DYOR
My original comment was on not reading too much into the CLN announcement as a show of strength / confidence. They will get looked after either way.
Not talking about missed opportunities or pointing fingers - calm down, breathe, relax.
*didn't take advantage.
You don't know when the deal was agreed and what the share price was then. There was nothing to stop you and others buying at 0.35p ish: I did.
There has been plenty of buying opportunities in the last 6 months. Anyone who take advantage can't point fingers now. AB has been very clear what he was up to.
Soon Rodney, soon.
Free as in they're just tacked on to sweeten the deal to the CLN holders. Yes it'll bring in some cashflow but it's risk free for them. The CLN holders already have a sweet deal with the high interest payment + they will most likely be able to roll over / adjust down the conversion as we've seen before.
If there's that much confidence that the share price is so undervalued (apparently talking multiples and the warrants expire in roughly 3 years) then why not set the warrants to be materially higher? It's all a very cushy deal for those close to the company.
Kimi, could you explain “the free warrants” to me”?
I thought the warrant holders actually paid money directly into the company following a 200% gamble that they would have any value at all !?!
Ironically - Could also be viewed that normal shareholders (other than IPO shareholders) actually contribute nothing to the company by way of funding or helping the company to grow?
Just thinking out loud
Thanks Hawaii for your balanced 18.11 post
A very good reflection of what been going on behind the scene - RRR needs to deliver on the DRC court case, a further International court case in Switzerland or London, the IPO of RRRAL and continue the build of RRR ALR for sale and ongoing royalties while looking to sell surplus assets
That is where the short, medium and long term shareholder value is .
Years ago I believed RRR could bring an asset into production but I’ve now realised the company is just a stepping stone between land owners with mineral rights and increased value due to survey activities - the problem has been we never released the value built up in the asset to create value.
Re “Bell is on thin ice” he’s not ….. he’s latterly been doing a good job and went well above and beyond with the 6 week stay in DRC. When the court settles (and the cash is in escrow, and will be paid direct to RRR) the market cap doubles and hopefully the shape price increases even more.
Jam tomorrow interview.
TDT
https://twitter.com/i/broadcasts/1ypJdEkLBEqxW?t=96qXSt4mqCnFfHAYx2wkEw&s=09
https://twitter.com/TereaAfrica007/status/1552154008579706881?t=srnrEXs0ozFD8svLF5KoUQ&s=19
"They told Bell to extract value from the existing portfolio and cease acquiring the next 'must do' projects"
haha yeah that really worked well... Côte d'Ivoire, Burkina Faso, Zimbabwe anyone?
You're also being incredibly naive thinking that these CLNs (and free warrants) are somehow a show of confidence or strength. Forget the eye-watering 12% interest which is probably calculated on a monthly basis if like in the past.
I suspect timelines on actually getting any cash in the bank from DRC is much much longer than some think. Anyway, in the meantime that Elephant Oil IPO will save the day surely?
Shambles.