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Red Rock Resources tweet:
"Open for biz: Our near neighbour showing our area still has EYE-WATERING DISCOVERIES
to be made. We have PART of old MUSONOI SUPER-PIT PRESSED UP A G A I N S T
G L E N C O R E."- 1 Feb 2019
RRR embedded a Ivanhoe RNS for Kamoa-Kakula - article stated Kamoa-Kakula is "TIER 1" and that drilling showed the highest grade of copper etc.
https://twitter.com/RRR_RedRock/status/1091402323564343298
--
Shows that RRR's 50.1% MUSONOI is in a huge asset.
As I posted from info [ref: article] that RRR's 50.1% was sold without their knowledge to a businessman who then sold it to an international co. Latest news from Congo: "CONGO RECOVERS MINING AND OIL ASSETS FROM ISR...BILLIONAIRE."- REUTERS, 25 Feb 2022.
2 sides have agreed ie CONGO GOVT COMMISSION & BUSINESSMAN to return the assets.
----This appears good news given this same businessman is the one who bought
and sold RRR's 50.1% on to an international co.-------------
News, Sun, 1 May 2022.
This puts Andrew Bell, CEO of RRR in a better position given the govt commission has also taken back their own mining and oil assets from this same businessman - so it is now so well known that it is in the "Paradise Papers" [congo assets taken and sold].
SI Capital Note on RRR, 7 Aug 2022.
https://www.rrrplc.com/wp-content/uploads/2020/08/RRR_BrokerResearch_06-08-20_Final.pdf
"KENYA-MIGORI"
"JORC 1.2moz gold."
" M I G O R I ---SKY BLUE POTENTIAL.----
This does not even include near term production at the small MACALDER tailings project."
---Does anyone know if A. BELL is currently in the CONGO? Most pi's know where their CEO's are located at the minute? Thanks.----
Interestingly, SI Capital said that the Migori licence was also in litigation and RRR got it back.
Sun, 1 May 2022. Posting as a broker knows more than pi's on Migori.
darientaylor
We will speak again in the year 2023 of 1 May and 2024 of 1 May.
See you and we have to see what history says. 2 years is more than enough time for
the projects to reveal itself in RNS's but hopefully sooner.
Specinvestor99 is hoping that the para STATE will settle when A.Bell flies out to Congo, not only the $5m but the $15m plus the $250 Million [all US$] and 51% to RRR for MUSONOI.
Hence, why Bell said on the Fri, 29.4.22 interview after the Interims that he will
ask for "EQUAL LICENCES/SPLIT PROPERTIES."
I personally dont care if there is some cash and THE $250M +$15M [51% to RRR] comes in a DRC "EQUAL LICENCE/SPLIT PROPERTIES" AS MUSONOI.
MAJORS ARE CLAMBERING FOR DRC, KOLWEZI COPPER AND COBALT. BHP IS IN EARLY TALKS TO BUY KAMOA-KAKULA' S NEXT DOOR AT WESTERN FORELAND. MUSONOI IS ALSO IN KOLWEZI AS IS KAMOA-KAKULA & W. FORELAND.
Kamoa-Kakula- Friedland of Ivanhoe sold 50% to ZIJIN FOR US$400 MILLION SOME YEAR AGO and with prices of copper and cobalt up, prices are good.
Majors are interested - look at all the big boys in mining next to and near MUSONOI.
Maybe, you havent been reading so repeating for you.
See you on 1 May 2023 and 1 May 2024 and the position then. HISTORY PROVES MANY THING.
News, Sun, 1 May 2022.
LoL , you flew over from your other forums and a/c to your history, you have not posted on RRR?
29 other projects? Helpful if you could name them? We are in in 2022, and the projects are in the books at £13m/£17m vs £4.2m mkt cap @0.35p.
The MUSONOI, KOLWEZI, DRC IS IN SITU FOR US$125 BILLION.
Just 51% RRR STAKE is a legal claim for US$250 Million from a state govt mining co.
So, 100% of MUSONOI is worth US$500 Million. [51% RRR and 49% someone else].
Can you name 1 CO with a mkt cap of £4.2 Million @0.35p that has US$250 Million potentially due INCLUDING $5+$15m also due [51% RRR]?
ISNT THAT CALLED A.BELL GOT ANOTHER TIER 1 BESIDES JUPITER MINE?
---Facts- AN INTERNATIONAL CO LISTED AT HK$12.8 BILLION IN HK NOW HAS MUSONOI.---
[2] 2ND BITE AT JUPITER.
At Jupiter, the manganese produced the printing machine and at one time, Jupiter was almost DOUBLE of its MKT CAP AT A$470 Million currently, so close to a A$1bn co.
NOW, MT IDA FROM JUPITER HAS GONE INTO JUNO. Juno has a HIGH GRADE HEMATITE IRON ORE PROJECT THAT IS AT DEVELOPMENT STAGE IE FINAL INVESTMENT DECISION at MOUNT M A S O N . Australia's RICHEST IRON ORE BILLIONAIRE, GINA RINEHART HAS JUST BOUGHT 9% NEXT DOOR TO JUNO'S MT MASON CALLED MT BEVAN.
MT BEVAN IS NOT AS BIG AS MT IDA.
RRR WILL RECEIVED ROYALTY FROM MT IDA [left with 1/2 of 1.5% royalty after selling the other 1/2 in 2012 for US$14m or £8.8 million].
OVER THE YEARS, RRR RECEIVED DIVIDEND FROM JUPITER. A.B SAYS THEY ARE DOING IT ALL OVER AGAIN AT JUNO GIVEN THE SAME TEAM. CFO at Juno just appointed days ago and formerly from FIRST QUANTUM, WESFARMERS. Wesfarmers is a BILLIONS $ CO in Australia. Big hitters onboard.
LOTS MORE TO COME FROM EL LIMON ROYALTY, ZIMBABWE LITHIUM JV, KENYA MIGORI, DRC COPPER AT LUAMBISHI etc + CONGO LITIGATION SETTLEMENT OF US$250M +$5M+$15M.
You are talking of yester year, now its new ones. AAAAAH, TIER 1's AT MUSONOI JV 51%, MT IDA TIER 1 ROYALTY BALANCE, JUNO up and coming with Gina's options to take 51% operator ship at Mt Bevan. What Gina does is hot news in the industry and Stockhead.com.au said in their article she is BETTING BIG IN IRON ORE ----------ah, next door to Juno.
News, 1 May 2022.
Bell just got lucky for once with Jupiter, unfortunately he has got it spectacularly wrong on 29 other ventures. His story telling is the only positjve thing i can think of.
------------------------Andrew Bell,RRR-------------------------
C.V.
--Per a poster on the other RRR forum and from the link: A.Bell bought some land in Oz and it produced £11m /£14m royalties from Jupiter. Jupiter was a ASX 300 co.
Bell got the former CEO of BHP to inject his manganese project into Jupiter and it became world class and became a "PRINTING MACHINE" [A.B said] and thru DIVIDENDS.
Markets dont like manganese and iron ore in 1 co so Jupiter took the studies to FS, increase the resource and spun it out to JUNO MINERALS. Juno had Mt Mason, a high grade hematite iron ore project due to go into production as it is now at investment decision stage.
A.Bell said Juno is going to follow the same Jupiter pattern of divis. However, they have to keep $ for Mt Ida as the MD of Juno said in the said presentation.
MT IDA is a TIER 1 IRON ORE RESOURCE. [now in Juno and increased resource of 3.4X more]
MT MASON, JUNO
Amazing that Gina, the Iron Ore Queen of Australia is betting big in IRON ORE and going next door to MT MASON, JUNO MINERALS. Isnt that FORESIGHT OF JUNO TO GET THERE FIRST? Mather complained that
Gina got all the LICENCES SURROUNDING CASCABEL LoL. Yes, she is quick on her feet.
[2] RRR WENT FROM 1P TO 20P PER FIRST EQUITY VIA THE JUPITER EVENT.
Then, next , A.Bell gets MUSONOI , DRC in the KOLWEZI mining district where KAMOA-KAKULA is situation [Robert Friedland's 3rd fortune after nickel and copper at Oyu Tolgoi, Mongolia]. Mr Friedland sold 50% to Zjin for $400 Million [USD].
Certainly, MUSONOI is Tier 1 at SITU IN VALUE IN THE GROUND AT US$125 BILLION [RRR's Geo's on 83 hole assays+750 pages of reports + historical data].
Today, JINCHUAN, $12.8 billion HK , listed on the HK Stock Exchange had begun construction in 2020 and at near end of 2021, applied for a loan of US350 Million to DEVELOP MUSONOI.
So, Jinchuan is a major and from their own words via their website this would provide further GROWTH for their co. So, turns the needle being Tier 1.
UNLOCK VALUE.
From all the research posted, quite a bit of $$$ to unlock from ROYALTY AT MT IDA [got £8.8 million in 2012 selling 50% of their 1.5% royalty when Mt Ida was not yet developed and 3.4X smaller than now] hopefully, RRR can keep the JUNO shares or buy a bit more if able, BIG POTENTIAL LITIGATION SETTLEMENT and other assets on the books. I have listed the bigger ones.
With that, thank you to Mr Bell for his very nice and informative interview on Fri, 1 May 2022.
Oh, A.Bell said "OFFER FOR OUR ASSETS" [plural] so maybe he is going to surprise us?
Got to see.
News, Sun, 1 May 2022.
No more work to do - just wait for Mr Bell's next news/RNS etc and hope for the best.
RRR 0.35p, Mkt Cap £4.2m.
-------------------2 TIER 1's AT MT IDA [NO MORE SHARES BUT 1/2 OF 1.5% ROYALTY LEFT AND MUSONOI [50.1% JV]-------------
and Mt Ida can only come AFTER MT MASON comes on stream as the CEO, Greg Durack said in the said presentation, Juno. A.Bell said SAME TEAM as in Jupiter - DIVIDEND- same at Juno and PRODUCTION NEXT YR plus longer term at MT IDA, 2-3 BN TONNES.
QUESTION- WILL THE OTHER 50% ROYALTY OF 1.5% NOT BE WORTH MORE THAN US$14 [£8.8 Million] NOW THAT THE MT IDA RESOURCE IS 3.49 TIMES BIGGER ?
GINA RINEHART-THE IRON ORE QUEEN OF AUSTRALIA [Billionaire]
Stockhead.com.au: "BULK BUYS: GINA GETS INTO MAGNETITE WITH IRON ORE DEAL."-17 Nov 2021.
"Han ....**** is making a BIG MOVE INTO MAGNETITE, inking an initial $9m deal to FARM INTO MT BEVAN, Western Australia with Legacy and Hawthorn, ASX listed." Gina has the option to take this 9% stake to 51% [operator].
Gina Rinehart owns the huge, massive ROY HILL iron ore project in W.Australia which produces 60Mt a year for export.
MT BEVAN
Indicated and Inferred: 1.17 BILLION TONNES @34% FE. --Juno's Mt Mason EXTENDS TO MT BEVAN.----- However, there are TWO PROJECTS AT MR BEVAN.
Comment: Mt Ida is HUGE [TIER 1] AT 1.85BN VS MT BEVAN 1.17 BILLION.
[BIG MONEY HERE WITH A TIER 1 AT JUNO'S MT IDA -RRR ROYALTY 50% of 1.5% left]
[Has to be MORE THAN £8.8 MILLION in 2012 now].
--
MANAGEMENT OF JUNO:
-GREG DURACK, M.D.
He did the 2 FEASIBLITY STUDIES FOR MT IDA AND MT MASON.
Study Manager for PILBARA MINERALS [mkt cap billions$]-PILGANGOORA LITHIUM/TAN. +metallurgical work.
-DAVID MORGONEY
Just appointed. Independent Chair, NED.
formerly CFO, FIRST QUANTUM, AURORA AND WESFARMERS.
[Accountant].
-PATRICK MURPHY, NED.
MD AMCI. Substantial holder of Juno. 15 years at AMCI & MACQUARIES.
NED at Jupiter.
-NAM LEE, PROJECT MGR, POSCO AUSTRALIA [coking coal and iron ore].
If I recall correctly, POSCO was one of the financiers for GINA's Roy Hill. Gina's is the highest tax payer in Australia - she paid $6 billion in taxes and biggest exporter.
-------------------ANDREW BELLS'S TIER 1, MT IDA---------
This was what sent RRR from 1p to 20p and made PAUL JOHNSON'S FORTUNE believed to be £750k to £1m - it was said recently by one poster that PJ bought in 2010 heavily. PJ only had £7,500 in savings. So, depends when one gets in and if THERE IS A LURKING TIER 1.
First Equity said it was due to JUPITER MINES [manganese and iron ore at Mt Ida]. PJ bought at 2p and sold at 17p.
News, Sun, 1 May 2022.
I have only a very modest sum in RRR. I post research and give everyone the SAME CHANCE as myself at the same price which holds for a time. I dont join any groups or share research later. What I find I post. I dont buy ahead of research. As HawaiiFiveO said, he notices when the "STREAM" OF RESEARCH COMES ON FROM ME, he noted that at XTR!!! LoL. DYOR.
I CANT GUARANTEE ANYTHING SO DYOR.
Jupiter Mines owned Mt Ida, W.Australia. However, as A.Bell said Jupiter was a "printing machine" and they paid out dividends. A.B got the former CEO of BHP to inject his manganese project into Jupiter which was world class. So, with the prices of iron ore at the time, Jupiter decided to wait for a more opportune time for Mt. Ida whilst they did some technical work on it etc. In May 2021, Jupiter listed on the ASX DE-MERGED Mt Ida into
J U N O MINERALS, WHICH LISTED ON THE ASX IN MAY 2021.
Jupiter holders including RRR got FREE SHARES in Juno.
----------------RRR - JUNO MINERALS---------
RRR got 800,000 shares FREE due to their holding in Jupiter Mines and they applied for more at the same time so that their total Juno shares stand at 1 . 4 MILLION.
The team at JUNO are the same as Jupiter per A.Bell. Mr Bell also said they have a 5% CHINESE INVESTOR - I found out it is POSCO, the huge major.
JUNO MINERALS - MT IDA & MT MASON
Juno has just issued an ANN that they are at the stage of making an investment decision relating to Mt Mason ie production of HEMATITE IRON ORE,Western Australia. MT MASON IS HIGH GRADE at 5.9Mt @60.1% FE. [Ref: Juno presentation 16 Nov 2021 AGM at https://www.junominerals.com.au/cproot/1063/3/2301061.pdf ].
MT IDA - JUNO
From the said presentation, "MT IDA --------1.85 BILLION @29.48% FE------------
Large project, Benefication. They will use a ALTERNATE FLOW sheet - lower CAPITAL than current operating mines in W.Australia. ADVANCED STAGE.
P O T E N T I A L L Y T I E R 1."
MOUNT MASON
Per same presentation: "MT MASON WILL BE FAST-TRACKED . ONCE THE OP IS RUNNING IN STEADY STATE, THEN MT I D A WILL HAVE THE DUST BLOWN OFF IT."
Juno came to market on the ASX at A$20m. A.Bell said that COMPARATOR is A$150M.
---------------RRR AND MT IDA ROYALTY----------------
RRR'S ANNUAL REPORT 30.12.21 MENTIONED MT IDA ROYALTY so it is present still.
----------RRR SOLD MT IDA ROYALTY [1/2 of 1.5%]---------
"RRR sells Mt Ida slice."-City AM, 6 Feb 2012.
"RRR said yesterday it had sold a 50% stake in MT IDA ROYALTY ------FOR $14 MILLION[£8.8 MILLION]. FTSE 250 listed ANGLO-PACIFIC is paying $14m for the interest in the iron ore project based in W.Australia & is being developed by Jupiter. Paid in 3 instalments plus some shares. RRR share price 3p +1.38%."
From elsewhere, Mt Ida ONLY HAD A 530 MILLION TONNES IRON ORE RESOURCE at the time of this said sale.
In Juno's 16.11.21 presentation at the AGM, the Mt Ida resource is NOW 1.85 BILLION @ 29.48% FE. --------INCREASE IN IRON ORE MAGNETITE OF 3.49 X [TIMES] BIGGER.!!---
ANGLO-PACIFIC RNS
said they "ACQUIRED 20% of 1.5% GROSS ROYALTY" at Mt Ida. Not sure how City AM said 50% but Anglo, the buyer said 20% of 1.5% gross royalty. Maybe, there is a difference in net and gross figs?
-----------------ANDREW BELL---------
can sell 50% of 1.5% royalty in Mt Ida in 2012 for US$14m [£8.8m] ----A MARVEL!!
Today
I refer to your post dated 28 Apr 2022:
"IMO something will happen on:
1] Migori / Kenya
2] iron ore [project to move forward with big payment to RRR]
3] litigation settlement
[You qualified with TIMING FRAMEWORK]
YOUR 27.4.22 POST, RRR
"I am a recent owner of RRR." [You also qualified you hold shares for 1-2 yrs].
HOW DID I COME TO KNOW ABOUT RRR?
I am interested in lithium. I was looking at cheap mkt caps ie juniors going into the lithium space that do not have big mkt caps. On Twitter, I noticed RRR had just got into Zimbabwe and so I listened to what A.Bell had to say. He said that over the last 4 months, the Chinese are in Zim to monopolise and took over Acadia for $400m [USD]. However, these licences that A.B has applied for etc are via another party and A.B is looking for partners. THESE LICENCES ARE NEAR ACADIA and BIKITA MINE. Colin Bird thru another party could only get near Bikita. So, that was how I landed here at RRR. I am also a RECENT HOLDER due to this lithium story. Then, I decided to see if there was anything else that would provide UPSIDE or UNDERPIN the mkt cap further given to run RRR does cost money with small spends on exploration, licences etc.
So, as I said I was looking if RRR had A TIER 1 PROJECT in its portfolio as I am only interested in Tier 1's. I had discounted Kenya -Migori as I do not consider 3-4moz gold [exploration start potential from initial target of 1-2 moz] TIER 1 [10moz minimum to qualify].
-----------------I FOUND THE TIER 1 AS I SAID NOW AFTER FURTHER RESEARCH------------
Yes, it is in IRON ORE. I will post more a bit later but unfortunately, it is via ROYALTY and maybe in the longer term, the stock RRR hold if they can hang on to it.
I have to run this past folks to confirm. RRR unfortunately does NOT own a big chunk of stock and has sold 1/2 of their royalty.
Will post more later.
So, yes, I agree with you spec99 that those are the immediate areas of interest to unlock value. I am hoping Zimbabwe [lithium] will also be good and the sample assay results will show more.
Sun, 1 May 2022.
HawaiiFiveO
If you read my latest post, you may get a clearer picture. I did wonder why A.Bell mentioned
"EQUAL LICENCES/SPLIT PROPERTIES." Any commercial mind will say that this is NOT possible UNLESS PAYMENT is NOT FORTH COMING by stalling. So, as I said, RRR stated they have provided documentation so there is NO quibble legal wise as they have lodge all legal papers.
Dont forget this is a PARA STATE CO and when A.Bell flys to the CONGO, he will have spoken to them already and they will have had to come to some sort of compromise. So, flying out there is to discuss and hopefully finalise the agreement or pre-agreement.
In so far as the Congo Court is concerned, RRR won 2 cases and in the 1/2 year report of 29.4.22, RRR said, "$4.5m plus cost NOT YET ENFORCED BY US ."
It is the $15m that A.B is flying out for and what the para State means by make sure they know who to pay means they want to pay it. BUT, WHY DOES A.B SAY ALSO THAT HE WANTS EQUAL LICENCES / OR SPLIT PROPERTIES ? This COVERS that if there is NO PAYMENT OF $15M [1/2 to RRR], then comes the NEGOTIATED EQUAL LICENCES/OR SPLIT PROPERTIES.
-----------------========NOTE EQUAL= MEANS EQUAL TO MUSONOI=============
So, specinvestor99 has a point and hence this would explain A.B's EQUAL licence/split property part - NO PARA STATE IS GOING TO GIVE MONEY A N D EQUAL LICENCE/SPLIT PROP.
-----------------THE STATE PARA MAY NOT WANT TO BE SUBJECT TO INTERNATIONAL ARBITRATION IN WASHINGTON AND PARIS PLUS PRIVATE LIGITATION LIKE ENRC--------------
and get this case lodged against the country and yet still have to PAY OUT.
So, yes, HawaiiFiveO, makes sense why they want A.B to fly out as they want to discuss possible CLOSING the matter without international arbitration which is filed in a registry and one can check how many cases a country has lost/won etc. I always check before I invest in any country not TIER 1 jurdisdiction.
Also, A.B cannot afford to offend the para STATE as RRR has 2 more projects there , one being , L U A N S H I M B A, DRC where they have drilled further.
If one offends, then dont hope to do anything more in the country etc not including dont go for A.B?
So, if the para State wants to SETTLE, its not up to A.B to INSIST we want CASH OF 51% OF US$20m PLUS ONCE I FLY OUT, WE FILE A CLAIM FOR US$250 MILLION AGAINST YOU AND MAYBE THE INT. CO?
This is commercially what happens. A.B is not going to risk his own ....as he has a family.
The President of the country is setting up a REGISTRY at the Mines Dept so that all property is registered to prevent further such accidents.
I would be so pleased if A.Bell could get as much cash as he can and EQUAL LICENCES/SPLIT PROPERTIES that he can JV with a MAJOR or if this is too sticky , then as soon as he's out of the country to FILE the $250m claim. However, I dont think its wise for A.B not to sound
very co-operative when he is in the country, dont you think?
LoL.
Sun, 1 May 2022.
S
specinvestor99
18:22, Sun 1 May 2022.
CONGO, MUSONOI, DRC [KOLWEZI MINING DISTRICT]
Thank you for your concise input relating to the US$250 Million claim as it were of which 51% is due to RRR [JV].
Andrew Bell , CEO, RRR told us on Fri, 29.4.22 via the Proactive Investors interview [Irons in the Fire] that RRR will take LITIGATION OUTSIDE CONGO "FIT FOR US$250M."
Meanwhile, he will FLY OUT to the Congo relating to the $5m +$15m.
So, this posturing over the $15m is due to the fact they DONT WANT TO PAY IT OUT and hence A.Bell is take PROPERTY of some sort [A.B said LICENCES/SPLIT PROPERTIES]. Also, if they pay the $15m and YET NOT GET ANY SETTLEMENT OVER THE US$250M [51% to RRR], then, A.B could take the $15m [1/2] and then START LITIGATION FOR US$250M OUTSIDE THE CONGO. Now, we know why the mention of possible taking LICENCES/SPLIT PROPERTIES.
This is the para STATE CO. From what I have learnt, Musonoi was sold to a businessman who then sold it on again to an INTERNATIONAL CO. I will give you the website link that shows that they say they OWN IT.
OWNER OF MUSONOI, DRC NOW
"Jinchuan International also OWNS C O N S T R U C T I N G project [ M U S O N O project]
and 1 exploration project [Lubembe project] in the DRC, which would serve as reliable
resource PROTECTION in the co's CONTINUED DEVELOPMENT in the FUTURE."
From current live website: www.jinchuan-int.com/en/business_overview/mining_operations.php
[Jinchuan International Resource is listed on the HK Stock Exchange with a market cap of $12.8 BILLION, presumably in HK$. In 2020, Jinchuan started construction of Musonoi. In late 2021, I have given the ref title to Jinchuan applying to get a loan of US$350m to develop MUSONOI. So, it is now ready for development but with TITLE to this deposit with Situ-in-Value in the ground of US$125 BILLION, one cant envisage that any PUBLIC CO can start development NOR will banks lend in such circumstances but have the co told their lenders?]
Ah, so. I see there is another post so will have a look if there is further comment.
Spec
Bell himself said last week he expects to receive some near term cash from the Congo, he would not say that without reasonable ground of success, what I cannot understand is Bell's obsession for more ground instead of full cash, cash is king on AIM, what a different proposition RRR would be with a immediate injection of £7m-£10m into the company.
As News has said I suspect the major shareholders are more aware of the position than others, the fact they have supported Bell (despite being heavily down financially) implies they know good things are just around the corner.
Worth recalling the last para from the FY report.....
'We expect investors to be materially rewarded for their support over the course of 2022'
medium and long term I am optimistic about what will happen.
short term concerns- the Para State company was involved in this 'packing' scheme whereby they bought a property for $20 million and then sold it for $250 m I dont think they will quickly pay the balance of the $15 million of cash they have already received without a resolution on the $250 million They did that deal to get cash for themselves I think Bell recognizes that which is why is he will to take a property interest of some sort. Something the Para State company has to offer Longwinded way of saying RRR is not going to get 51% of $250 million
Regardless of the outcome the end result for RRR shareholders should be very rewarding
IMO This is a gamechanger
HawaiiFiveO
CONGO-MUSONOI, KOLWEZI, DRC COPPER AND COPPER PROJECT [US$125 BN VALUE IN GROUND]:
Yes, I agree that the immediate cash to UNLOCK is from the Conga as you said relating to $5m+$15m [$7.5m to RRR in cash/part cash or new licences [17:07, Sun, 1 May 2022]
Yes, I did hear that Andrew Bell will fly to the Congo to get this settle and they want to know who to pay [$15m element of which RRR has 50.1%]. From the Annual Report of 30.12.21 which I have gone over the 2nd time, it does state that it was "PENDING LEGAL CLARIFICATION which we have provided." Yes, no co/entity will pay out unless legal clarification shown and also to sign receipt documents etc otherwise they could be paying the wrong amount etc. All norm.
-------OK, $7.5 Million = £5.9 Million [FX £1=US$1.26]----vs RRR Mkt Cap £4.2m @0.35p-----
ELEPHANT OIL IPO
From the said RRR Annual Report 30.12.21, RRR had UNDER 400,000 Elephant Oil shares having paid $2.25. AR also stated: " Elephant Oil filed Form S1 with NASDAQ as part of the final preparation for listing." In this latest Fri, 29.4.22 interview, A.B told Proactive that they need to remove one shareholder. From Heid_oil's link to the interview from A.B some time ago, one poster on Twitter said that the market cap was $20m [USD] and the issue price was $4.25. Nasdaq has a minimum price at $4 from recall. If successful, I think $2m could be
coming RRR's way if they sell the shares. I read it somewhere but I have to look for my notes again if this is correct.
INTERIM RESULTS, 29.4.22
I wont go into detail but institutions lent RRR £989k [short term] and there are borrowing of £1.25 Million vs cash £182k and Loans and other RECEIVABLES £508k.
So, we have to bear this in mind if there is the LIQUIDITY EVENT from the Congo shortly or when they pay.
{}CONGO-MUSONOI{}
There is the NEXT LITIGATION OUTSIDE CONGO "FIT FOR US$250 MILLION."-A.Bell, 29.4.22
Interview with Proactive Investors [Irons in Fire]. I have already covered this today.
-So, this potential Tier 1 asset could be positive if RRR is able to get this via litigation "outside Congo." This may take a little time to file etc. TIMEFRAME: ?
[] WHAT ELSE? RRR TO DO A 9 BAGGER PER YOUR QUESTION TO ME.
You asked me a SPECIFIC QUESTION OF XTR GOING FROM 1P TO 9P WHICH IS A 9 BAGGER.
At 0.35p , MKT CAP £4.2M , A 9 BAGGER WOULD BE £ 3 7 . 8 MILLION MKT CAP which is reasonable as it is not exactly so huge that it is out of reach.
[] RRR £37.8 MILLION MKT CAP [9 BAGGER FROM TODAY'S £4.2M MKT CAP]
--------********N E E D S TO S E L L SOMETHING BIG.***********----------
[] I HAVE BEEN LOOKING AT WHAT RRR CAN SELL.
I may have found the answer.
Will have dinner first before I embark typing from notes I did 10 mins ago to complete my research.
Sun, 1 May 2022
News.
News
For me and most other shareholders the only thing that matters is receiving material cash from the Congo in the near term, this would eliminate the need for equity placement, ask, why did the major shareholders block RRR issuing shares at the 2021 AGM but allow the motion to pass this year? The answer to that is, IMO, they are aware that RRR are not going to issue shares because of the Congo cash and Elephant Oil liquidity events.
The most interesting aspect about the Congo is, during a Stockbox interview soon after the RNS concerning the underhand activity of the JV partner, Andrew Bell said that RRR via the court had the bank account of the buyer frozen, one assumes this is the account containing the $15m remaining to be paid of which RRR is due $7.5m, that to me is material, in last weeks interview Bell said the buyer has the cash sitting there but wants confirmation about who to pay.
I therefore conclude that Red Rock will receive at least $7.5m either in cash, part cash/new licences from the buyer AND pursue the other $2.5m + $2m costs from the JV partner who took the buyers money in the 1st instance.
So there are TWO routes to receiving material cash, the JV partner $4.5m and the buyer who hold $15m to disperse. That to me is VERY material and no wonder Bell is going to the Congo to get this sorted.
As RRR has been neglected by the market these matters are hardly known by many and therefore (IMO) the company is badly mispriced and represents a amazing opportunity, it is interesting you (News) have appeared right when things could hot up.
because I had to catch the price of RRR at 0.35p+. I tend to scale in so thankfully, I got my first lot BEFORE A.BELL'S INTERVIEW OF FRI, 29.4.22 ie wherein he gave very direct answers and UPDATES especially on the sum of the potential claim of US$250m. I ONLY HAVE A MODEST SUM INVESTED IN RRR. No, I dont want big risk. It will take a bit of time as A.B said in his interview as to the litigation etc.
A.B INTERVIEW, 29.4.22
---------------"OFFER FOR OUR ASSETS."-----------
Intriguing. Have to wait what happens NEXT OR NOT or whether the offer is firm which means it has to be RNS'ed. What assets [plural]? I dont know nor have any idea as to which group of assets?
RESEARCH NOT FINISHED YET
So, I have not yet made up my mind about possible other Tier 1 in RRR's portfolio.
However, bear in mind that these projects of RRR's are usually JV's so not 100% owned.
RRR is NOT a junior pure exploration play so at some point, they have to FARM OUT or SELL etc. Herein, the outcome is REASONABLE in terms of $$$.
Big Tier 1's require HUGE CAPEX, hence why RRR cant take it on, solely on their own even if they do find something worthwhile.
Hope I have answered everything. In the end, one could have the best CEO but NO TIER 1 OR BIG ASSET IS STILL of no use. Look at what PJ said in his interview yesterday. PJ' s co is POW [RRR has shares in POW of 25m out of the original 45m] - it was called African Battery Minerals and it had to seek clarification with the Stock Exchange = bankrupt. So, PJ took the co over with cash injection of £1m [think it was a raise but not sure as I was not in at the time]. PJ said that African Battery Minerals had NO INVESTOR INTEREST. Before then, I think it was called Sula. Sula was in mineral sands. I recall someone posted this on the forum I was at and I had a look and said nah, its not Tier 1.
Tier 1 are now hard to find per the stats so I have had to LOWER MY AIMS to near Tier 1.
However, the capex can also be a moot point so I dont stay in when the big capex needs to be raised as it takes too long to wait given I am not 18.
So, a long thesis but I hope I have given folks some idea of what one has to look for.
Its like buying a derelict house in Notting Hill, London and doing it up or like someone recently posted that Andrew Bell bought some pieces of land in Oz and it turned out £11m and £19 in royalties referring to JUPITER MINES. I think that ~Jupiter Mines was also not only the pieces of Oz land but A.B got the ex-CEO of BHP to inject his manganese project into Jupiter which is world class. As AB said in an interview, Jupiter paid out its profits in dividends and was a "PRINTING MACHINE". So, they did not invest in Mt Ida at the time.
CAN A.B STRIKE THE 3RD TIME AFTER J U P I T E R [1P to 20p per First Equity] or
M U S O N O I [2nd time]????
Ah, that is for you to determine after reading the info/research thus far. I have to think further on it and given I am only more used to
Can a FT100 co on the London Stock Exchange hold on to an asset unless they have CLEAR UNDISPUTED TITLE?
So, herein, its a positive that RRR's 50.1% asset at Musonoi at with a INTERNATIONAL LISTED CO [$12.8bn mkt cap in local money]. I dont know where the case will be heard outside the Congo. Greek Hovel on the other forum years ago said it goes BONO ie big sums involved. Probably, it may be financed by specialist firms - just got to wait to see.
LITIGATION
Takes time and not 100% guaranteed as norm. So, this MUSONI asset is definately a TIER 1 or soft Tier 1.
So, I have found what I was looking for.
So, if there is a litigation win against this international co, even 1/2 of US$250 million is meaningful. US$250 - 1/2 =US$125m [FX 1.26] =£ 9 9 . 2 Million. Maybe, NET may be less for the lawyers cut of the win V E R S U S £ 4 . 2 MILLION RRR MKT CAP.
Say, take £70M = 16.6 TIMES [£70m divided by £4.2m].
--------------------HAWAIIFIVEO- YOUR ANSWER: 16.6 TIMES.---------------
Your question: Can it be like XTR from 1p to 9p = 9 TIMES.
CAVEATS APPLY given it is litigation as norm. But yes, A.BELL SAID HE GOT MUSONOI WHEN NO ONE WAS INTERESTED IN DRC [listened to his interview with Proactive at the time of the original JV and he mentioned £30-£70 Million [remember prices of copper/cobalt different then]. So, yes, MUSONOI COULD HAVE CHANGED RRR'S FORTUNES.
---I AM UNCLEAR WHETHER THE CLAIM OF US$250M IS RRR'S OR ONLY 50.1% SHARE?------
OTHERS WILL HAVE TO ASK A.B. Usually, claims are settled at 1/2 like ENRC but not guaranteed its always 1/2 but practice only appears so.
---FIRST EQUITY BROKER NOTE ON RRR -SEP 2021---
They said that RRR WENT FROM 1P TO 20P on the Jupiter Mines event.
Jupiter Mines mkt cap is currently A$470m although the high was double. So, any co that can have a A$1bn approx mkt cap in its history has to have a BIG ASSET in it ie usually Tier 1.
PAUL JOHNSON
He was in RRR at the time but he bought at 2p and sold at 17p.
A poster on the other RRR forum said that PJ made his fortune at RRR wherein it is thought he made £750k to £1m "when was buying heavily in 2010." This poster gave a link to PJ's posts at the time. PJ mentioned before in an interview that he started with very little money ie £7,500 from recall. However, PJ's inteview with Stockbox Media yesterday about commodity cycle said he had very little capital when he started. So, yeah, a big project can be game changing if everything turns out right. So, RRR DID HIT TIER 1'S IN THE PAST at JUPITER MINES AND MUSONOI, DRC [50/1% JV]. Today, DRC is in a different place wherein more majors are looking at this country as the grades in Kolwezi are good.
ANY OTHER TIER 1'S IN RRR PORTFOLIO?
TO FIND OUT, GO TO LONDON SOUTH EAST RRR.PLC. Yesterday, I posted some base notes so that I can also check further when I have time. I typed them from the notes I have at the moment. I am taking a rest. I had to RUSH to do the research in 2
"O F F E R F O R OUR A S S E T S."- Andrew Bell, CEO, Fri, 29 Apr 2022 Interview to Katie Pilbeam , Proactive Investors in reply to her Q about funds going forward.
???? OFFER FOR OUR ASSETS [PLURAL]???
Mr Bell did NOT elucidate what A S S E T S [plural]. Of course,he is not allowed to elucidate in an interview as that has to come via RNS. So, has he been offered? Is he accepting as it looks as if by mentioning it, he may be amenable? Dont know as one has to wait until more light via RNS.
Mr Bell was very forthcoming in this said interview and very direct. All these moves he mentioned means RRR is being tidied up ie restructuring taking place ie sale, money back from Congo relating to the 2 cases won in the Congo Courts of $20m [$5m+$10m -RRR has 50.1%?]. NOT CLEAR HOW A.B COULD GET EQUAL LICENCES OR SPLIT PROPERTIES AS HE SAID when he goes to the Congo to meet govt officials presumably. If he can it would be marvellous.
TIER 1'S I AM LOOKING FOR IN RRR PORTFOLIO
So, definately, MUSONOI, DRC [copper and cobalt] is a TIER 1. Why? On the RRR website on https://www.rrrplc.com/projects-and-investment/copper-cobalt/vup-copper-cobalt-jv/ , it stated that RRR's Consultant Geo's stated that MUSONOI, DRC [50.1% JV] "IN-SITU VALUE IN THE GROUND IS US$1 2 5 BILLION."
A.B said that litigation OUTSIDE THE CONGO [Fri, 29.4.22 interview] is "FIT FOR US$250 MILLION." [$250m vs $125 Billion value in the ground]. Isnt US$125 Bn value in the ground Tier 1 territory or soft Tier 1 at worst? Few co's have value in the ground of $125 Billion.
Hence, I posted more on Musonoi and the fact that it is IN KOLWEZI district where KAMOA-KAKULA [Robert Friedland fame @Ivanhoe] sits on the way to Kolwezi airport. RRR's JV Musonoi per the link I gave sits near all big/bigger deposits. Any wonder why an INTERNATION CO with a mkt cap of $12.8 bn now has the deposit?
This co has already BEGUN CONSTRUCTION IN 2020 [see my posts on this forum] and late last year, they applied for a US$350m loan to start ops.
What are the chances of success given this litigation will NOT be against the state co /govt but rather a LARGE LISTED CO? The only precedent I can find at the moment is ENRC and almost the same thing happened. Within less than 2 years, First Quantum took international arbitration in Washington and Paris + private litigation against ENRC and in the end they settled for US$1.25 million although the claim was for almost DOUBLE. However, First Quantum got their DRC licences/mine taken due to some "code violations" and then sold on by a businessman to ENRC, a FT 100 listed co then. Maybe, it had to go to international arbitration because it also involved the element of code violations which First Quantum denied they did. First Quantum LOST their court case in Congo [RRR WON 2 CASES IN CONGO and has NO VIOLATIONS as far as the info goes]. So, for RRR, maybe, its only private litigation.
First Quantum also wrote to the FCA about ENRC a
HOW MUCH ARE ALL THESE ASSETS/LICENCES WORTH AT RRR?
One has to look at the last Annual Report of 31 Dec 2021 and the INTERIMS just released on Fri, 29 Apr 2022.
So, looking at BOOK VALUE OF THE EXPLORATION ASSETS ETC. I recall that the MUSONOI, DRC [Congo] 50.1% JV is on the books for £590,000 per A.Bell in one interview from recall?
I have not read the last 10 Annual Reports and more to find out how this came about ie appears to have an IMPAIRMENT write down already, so any win is nice. The A.B interview with Proactive Investors on 29.4.22 refers per your link [Iron in the fire title].
WHAT DO I LOOK FOR?
I am ONLY INTERESTED IN TIER 1's or if that cant be achieved given it is not easy to find Tier 1's these days, then a marginal Tier 2 or what Lawerence Read calls a SOFT TIER 1. RRR mentions that near MIGORI, KENYA SITS BARRICK MINES GOLD DEPOSIT/MINE, A TIER 1 [10moz]. Migori has a JORC of 723,000 moz gold. Sometimes, there is a possibility that with further drilling there could be more. I found out that the exploration target is "1-2 moz gold" but the POTENTIAL IS "3-4 MOZ" [Ref: Mining Maven, 22 Sep 2021]. Personally, I am not interested in this project as it is NOT potential 10moz and beyond. Majors per Gervaise Heddle are interested in projects with potential of 10-20 moz gold. However, if gold were to rise very sharply, then maybe, a mid-tier could be interested. Nor surprising that A.Bell said in his interview that EITHER they drill as they have taken it so far ie JORC or JV. So, Bell is looking for a JV, which I agree in that let someone else take the drilling on.
-I GO THROUGH PROJECT BY PROJECT TO FIND A POSSIBLE TIER 1 IN RRR'S PORTFOLIO-
The Annual Report, 31.12.21 and Interims just out of 29.4.22 is helpful to see how much
are the ASSETS/EXPLORATION WORTH IN THE BOOKS minus the debt =NET ASSETS.
RRR sp - 0.35p = MARKET CAP £4.2M.
From a quick look at the above figures, it does NOT give a BREAKDOWN but suffice to say that from the said accounts, net assets are more than £4.2m.
RE-STRUCTURING
On another RRR forum, I felt that RRR had to RE-STRUCTURE. So, A.Bell was clear in his
latest said interview on Fri, 29.4.22 that all the major assets or near major are progressing to
a defintive ie DOING SOMETHING ABOUT THEM AND THEIR STATUS - EXTRACT VALUE.
KATIE PILBEAM -PROACTIVE INVESTORS, 29.4.22
She asked Mr Bell, so how are you going to fund all this? A.B 's reply:
"FUNDING:
[1] MONEY BACK FROM THE CONGO. He is flying out as your notes kindly elucidates relating to this and outside litigation.
[2] Always something we could sell. It seems that big shareholders dont want the normal raise method which is sensible given the low mkt cap. A.B is also aware of this given he said during the Congo JV time [Musonoi] that £30-£70m would mean that there is more leeway rather than at low mkt caps [interview going back to the original time of JV at Musonoi, DRC].
[3] "O F F E R F O R O U R A S
HawaiifiveO
A very good memory - time correct, price etc.
ANSWER:
Do I see a similar rise here on RRR as on the stock you mentioned ie from 1-9p?
One has to look at MKT CAP which is important. At the time, that stoc;k was on its lowest sp.
Therefore, the MKT CAP was in shell territory which for me is <£8m in general. The co had to do a raise to drill Bushrangers in Oz, a NEW PROJECT. The info/RESEARCH posted gave an idea whether the DEEPER drill would succeed or not given it was near Newcrest's Cadia-Ridgeway, one of the largest gold mines in Australia.
Nearology alone is NOT sufficient as all anomalies have to be DRILLED before one can prove it is mineralised etc. From research, I found out what the previous owners said ie Straits, Tooday, Anglo-American. So why did not want to drill deeper? Its about money given it cost time and money to drill and these co's have lots of projects on the go. AA retained an option on the prospect so that was interesting and the fact that it had a modest JORC already. So, drilling deeper given the Cadia-Ridgeway goes down deeper - Bushranger is of the same age and the fluid obviously flowed down [JORC proved that there was mineralisation up to 300m] , the chance of success was left up to the reader. EVERYONE HAD A CHANCE TO GET IN THE SAME TIME AS MYSELF AT 1P. No one was interested as you said so the TIME LAG meant there was a WINDOW open at 1p [up and down by fractions but around this price]. Legacy holders did not bother as they were on about the other African projects. So, depending on how much info one has via research, it gives one a chance to think whether the chances are 50-50. Anyone buying has to make up THEIR OWN MINDS what the chances were. If folks bought a modest amount, then it does not matter if they can spare £50-£100 [invest only what one can afford to lose is the rule].
DO I SEE A SIMILAR RISE HERE AT RRR?
RRR is a very different co to other junior miners in that it mimics an investment vehicle.
It has mark-to-market shares to sell eg POW shares, coming IPO's over time if they get listed, royalty from Mt Ida [I checked the Annual Report of 31 Dec 2021] as and when, royalty from El Limon, application for NEW LICENCES in Bukina Faso and Cote d'Ivore possibly for gold, 2 projects in DRC [Congo] of which RRR has further drilled 1. Then, there is ZIMBABWE LITHIUM licences of which is near BIKITA MINE and the other NEAR ACADIA [sold to the Chinese for US$422m recently]. Mr Bird of XTR has also gone into Zimbabwe to get licences near Bikita mine with a partner. However, no one has managed from what I know to get licences near ACADIA. So, A.B said he is looking for partners and he will release results of sampling etc when the licences come through. He said it is being processed manually so it takes time.
RRR also have shares in JUNO, ASX listed.
Then, there is the 2 cases in CONGO already won with futher litigation OUTSIDE the CONGO against possibly the INTERNATIONAL CO f
Recent interview link
https://www.youtube.com/watch?v=vRBQXGl2Kvs&ab_channel=Proactive
News
I seem to recall you posting a stream of information on the XTR thread in late 2020 when the share price was around 1p - a month or so later the shares hit 9p.
At that time no-one was interested in XTR a bit like RRR now, your information and research seems very precise, do you see a similar % rise here?
I thought the recent interview with Andrew Bell was more detailed than ever before, the fact he is going to the Congo to sort out the litigation shortly seems very positive - he seems very upbeat in collecting cash which could amount to circa $13m for Red Rock or a % of cash & new licences to compensate.
Some quotes of interest...
'the litigation in Congo was essential to progress'
'initial $20m sum involved (of which RRR is entitled to 50.1%)
'the project was the flipped for $250m, we consider a large part of that value belongs to us'
'we will address the $250m outside the Congo later'
'we have won all cases in the Congo'
'50.1% of $5m + $2m in damages due to RRR ($4.5m)
'another $15m being held by buyer until they know who to pay'
Bell also clarifies Elephant Oil, places a value of $2m & possibly more in after market - discusses IPO of gold project in Australia - lots of news due.
Link: https://twitter.com/StockBoxMedia/status/1520357413844623361 Sat, 30.4.22
Interview with Paul Johnson which I have just listened to.
From the man himself so that one can hear from his own words.
Highlights:
PAUL JOHNSON: " 2008-2011 personal - 200X"
[200 hundred times]. All junior co's rise, some to stratosphere.
Cyclical MELT up.
Cycles-fade.
Can go from 1p-50p, then 7-8 years later, down to 2p. [My comment: Solg 1p-45p+, Sirius Min 1-40p+, GGP 1.3p -43p+ examples I have seen]
PJ STARTED IN 2008 - NO CAPITAL, A FEW THOUSAND. Invested in fintech, bio but mainly junior mining/mining stocks.
---AFTER PJ MADE THE MONEY, HE WENT INTO ABM ie African Battery Metals.
Co went into clarification = bankrupt due to lack of interest. When commodities are HOT, hard to buy and when NOT hot, can buy at reasonable prices SIMILAR TO LAND GRAB. Co started with £1m. LOOK FOR DISCOVERIES, EARNINGS, JV, SPIN OUT, CRYSTALISE...
HIS METHOD:
SEE WHAT PEOPLE SAY. KNOWLEDGE, EXPERIENCE. Pick ....co etc.
Comment:
I listened as PJ & RRR are JV PARTNERS IN BALLARAT, VICTORIA GOLD, OZ IPO potentially.
Whilst in this interview, PJ does NOT say how much his capital was when he started out, he did reveal in much earlier interviews [1 only]. PJ does not say which co he made his 1st fortue which he described today as "HIS LIFE CHANGED FROM BACK THEN" [Episode 162 Stockbox today, 30.4.22]. Only on ADVFN RRR did one poster tell which was the STOCK and even gave a LINK TO PJ's POSTING HISTORY ON RRR. I read all 45 pages of PJ's posts ONLY ON RRR. LoL , now I know. What I did NOT know was he made 200X his capital during this short period.
It does co-incide with the RRR TIME WHEN IT WENT FROM 1P -20P [PJ BOUGHT 2P AND SOLD AT 17P per the other forum poster who must have been there at the time].
So, RRR did have its day in the sun and as AB said MUSONOI, KOLWEZI district, DRC [interview at the time of the JV], DRC it was £30-£70m and I think he knew the potential then. ROBERT FRIEDLAND MADE HIS 3RD FORTUNE AT KAMOA-KAKULA, DRC [KOLWEZI district].
1st fortune, nickel , then Oyu Tolgoi, copper, Mongolia and then Kamoa-Kakula.
So, for any stock, there can be TIMING and if entered at the wrong time, WRONG CYCLE of a downturn as PJ said, then no.
Enjoy the interview as I did enjoy listening to PJ. Got to run so sorry for errors, typos etc. Please check as there can always be errors when one is rushing.
Sat, 30 Apr 2022.
Error occurred.
PJ said in an interview he had about £7,500 capital only from recall. He used to post on forums just like any ordinary pi. However, he is an accountant and worked as a loss-adjuster for an insurance firm. On Twitter, in recent days, he says its hard when one has limited capital.
So, this shows that from £7,500, he gathered a base capital when he landed on RRR at 2p which had DOUBLED from 1p. PJ said in another interview that he tends to have a max of 9x and that's it. So, he missed out on further rises in the co he restructed at GGP later.
Jupiter Mines on the ASX has a mkt cap of around A$470m @24 Australian cents. From Google Finance , Jupiter s/p was 42c on 20 Sep 2019 which means the mkt cap was A$1bn region +-. A $1bn mkt cap is a unicorn cap so the assets would have to be in Tier 1 range.
ANDREW BELL INTERVIEW WITH PROACTIVE-TIME OF THE JV AT MUSONOI, DRC
Even then, he knew the potential of Musonoi and he said that at a mkt cap of £30-£70m,
rising is not as ....opposed to low market cap.
In recent days, RRR on Twitter tracked their share price and A.B is cognisant that the placings started the slide. In part, the bear market in commodities did not help. Hence, why no one wanted the Musonoi project given it was in the DRC, not a popular location then. Given this is a 51% JV, the mkt cap would be MORE if owned 100%.
So, with RRR Consultant Geo's putting "IN-SITU VALUE IN THE GROUND AT US$250 B I L L I ON " from 83 holes assayed, 750 pages of reports + historical data, it is certainly in the Tier 1 range.
So, RRR DID STRIKE LIGHTNING TWICE ie Jupiter and potentially at MUSONOI. What went wrong then? Well, the assets got SOLD without their knowledge, hence the interview of Fri, 29.4.22 explains.
I was not here during that frenzied time when RRR went from 1p to 20p.
I am sure many made money and PJ made HIS FIRST FORTUNE AT RRR.
So, much so, PJ is now looking for his own Tier 1 range discoveries. Hard to find per statistics so bear that in mind. Solg went from 5p to 80p intra-day high in just one day at the Solomon Island venture. Then the major walked from the JV etc and it fell from the sky and my the grumbles at 1.5p placing. It turned out a happy story there had it not been lightning STRUCK TWICE.
So, I am sure PJ thinks A.B is the bees knees.
I tend to look at stocks that are at their lowest point in mkt cap and see if there are any assets of note potentially and how the co is going forward towards an EXIT STRATEGY with its assets.
Hopefully, the better market conditions in commodities will help RRR but as with everything, its always termed SPECULATION = GAMBLE. Just to make sure no one thinks otherwise.
As the FSA stated, only invest what one can afford to lose for AIM stocks. AIM stocks were meant to be for High Net Worth investors who use AIM in a small way to hedge their portfolios but really not suitable for pi's putting their eggs in on any meaningful way like Sirius Min
First Equity produced a broker note on RRR dated Sep 2021 from recall. They said RRR went from 1p to 20p at the time of the JUPITER MINES event. So that is 20x.
In recent days on the other RRR forum, a poster said that PJ bought into RRR at 2p and sold at 17p, making his FIRST fortune of some £900k-£1m. So that is 8x. Mind you, PJ said in an interview tha