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FYI I have held shares here’s for ten years now, absolutely my fault I know. The last commodities cycle did nothing to boost this dog so I don’t expect any speculation that we are currently at the bottom of another one to help in any way.
Always happy to be proved wrong but with this idiot in charge I’m pretty I won’t be.
Anyway, good luck, you’ll need it, don’t forget I told you so so.
Blueboy LOL today RRR shares are up so there a return disproving your comment.
Seriously though sell RRR
junior companies are risky and it does not appear that you have the tolerance as well as a negative outlook specific to RRR
Your original statement was paraphrasing 'Bell was not selling his RRR shares'
my response shows that to be a positive statement
Now your concern is NOT about what Bell actually said but what IF Bell said something else. WTF
For 2022 Bell has purchased RRR shares that is today's reality Research on insiders purchasers show that insiders do quite well with those purchases and yes eventually insiders sell Personally I hope Bell's purchase of RRR stock in 2022
makes him a lot of money.
I am not aware of any exploration company which pays a dividend (return to shareholders) if that is what you were looking for when you purchased RRR 20 years ago then you purchased the wrong company.
Therefore if you are looking for dividends then SELL
if you believe Bell has no faith in his product or his ability to lead the company then SELL
I like RRR's chances but I dont view the company with rose tinted glasses There is risk here but I accept that risk for the potential reward
Everyone keeps forgetting the sector is on it's knees and has been in monthly decline since March 2021, the commentary here is replicated on just about every junior AIM listed explorer - even companies that are producing (even profitable) have had their share prices trashed.
Clearly those who bought the sector in Q1 2021 are out of pocket, probably down 50%/75% right now, historically when a sector like this turns up the moves can be fast and furious - in my view we are probably at the bottom of the cycle so perhaps just perhaps now is the time to buy RRR and other minnows.
Here are a list of 50 juniors, the average fall from the highs reached in 2021 is circa 50%, some are down 80%
https://twitter.com/Oilplayer2009/status/1494991613654884354?s=20&t=-RaFG6gkWBO0XlyEVSacAA
DYOR etc
Although i'm not overly optimistic it will contain good news Red Rock's half yearly results should be released today or tomorrow.
He has transformed the company into a black hole for investor's money. It goes in never to be seen again.
TDT
I remember well AB using the transformational word. Been downhill slide ever since.
Spec - well done on being a new owner.
I think the broad tenure here is new owners have arrived for twenty years with high hopes allways dashed. Will it go up from 0.375p for you the form book says no.
I think the concern is future financing will it be available and at what cost.
Brave person to get in now
Surely the only indicator as to the health of a company must be the share ptice over a period of time, not what people said, say or are likely to say.
Spec you talk like the company has only recently floated. The fact is that AB has had almost 2 decades to convert a project into something cash generative, even if only to cover admin costs and keep the lights on. Almost 2 decades!
At this stage the next fundraise should be as part of a funding package for a mining project launch, not to keep the company afloat whilst the blinkered CEO chases new projects (that will likely never reach anything material) and keeps his lifestyle at the expense of the company's shareholders.
All the bluster from AB about being a transformational period for shareholders has amounted to absolutely nothing. After continuously hyping up Kenya and DRC drilling results, both have been underwhelming. RRAL IPO has been coming within the next few months for well over a year. I wouldn't be surprised to see that the London listing is being dropped for an Aus listing just to delay the whole process again. Already happened with the planned Canadian listing where we were told that market participants really understand the gold market and appetite is incredibly high making it the ideal location.
Don't forget the delayed accounts due to erm.... covid?!
A tiny £1m fundraise now will dilute you significantly, god forbid that he raises enough to actually do something meaningful. AB has a long consistent track record of being a failure. Unfortunately he wasn't voted out and the opportunity for a proper audit of the company has now passed by. I can only imagine the nasty surprises lurking beneath the surface.
Also, why should someone sell if they don't share your bullish view on the company? It's a curious behaviour of retail/BB posters - a weird belief that someone can't possibly hold shares in a company and have an unfavourable view on the board and the way a company is being managed. You would just prefer an echo chamber full of cheerleaders for the company?
I am a recent owner of RRR so I dont share the same opinion. We are both fortunate that there is an active market for the shares so that someone who shares your opinion can sell and someone who shares my opinion can buy
The simple fact is Bell has not, and never will return any value to shareholders. Tinks is correct on most points, but I’ll pull him for this being ten percent of original value, with dilutions, repeated consolidations, followed by....you guessed it, more dilutions, it’s nearer one percent. Yep, go figure. There's only one way any investment here is heading, even helpfuls left the building...
Your original statement was paraphrasing 'Bell was not selling his RRR shares'
my response shows that to be a positive statement
Now your concern is NOT about what Bell actually said but what IF Bell said something else. WTF
For 2022 Bell has purchased RRR shares that is today's reality Research on insiders purchasers show that insiders do quite well with those purchases and yes eventually insiders sell Personally I hope Bell's purchase of RRR stock in 2022
makes him a lot of money.
I am not aware of any exploration company which pays a dividend (return to shareholders) if that is what you were looking for when you purchased RRR 20 years ago then you purchased the wrong company.
Therefore if you are looking for dividends then SELL
if you believe Bell has no faith in his product or his ability to lead the company then SELL
I like RRR's chances but I dont view the company with rose tinted glasses There is risk here but I accept that risk for the potential reward
Thinksthecat. I agree with spec 99 & you see a few people whom spout out inaccurate info. I do believe in AB is better in than out. So if you want the company to do well be more possative in the way you put your veiws accross. shares seem now a better buy than when you bought them so either sell & shut up or buy the choice is plain as day.
Suggest you try to understand exactly how Bell has played out shareholders for nigh on 20 years with at least 19 major share dilutions over that period of time without absolute zero return to shareholders, so to suggest he should be able to carry on issuing shares would be irresponsible the evidencee is the sp is one tenth of its value twenty years ago.
As for your reasoning for his statement which you have translated as in' not selling my (personal) share ) 'surely it
is obvious if a director said i'm selling my shares he would do even more damage so your argument does not stand
As stated before, in my opinion Bell demonstrates no faith in his product or ability to lead the company out of the mess it is in.
The question to ask Bell !
Is clear what immediate action is being taken to bring investors opinions back on side.
yes IMO further dilution will happen-as it always does for a junior mining company- no surprise there
dilution is inevitable Normally a junior company manages this area by raising funds at higher share prices (for RRR this would/should have been done at .80+ but Bell was prevented from doing that by major shareholders
this left with Bell no choice but sell what he could to keep everything else afloat
make no mistake Bell has his faults but those major shareholders did far more damage than Bell ever did
as to achievements I would simply point to the success of getting Migori back- I have limited experience on this type of issue but can anyone point to another company/executive who achieved this type of result?
And while we wait for a partner we risk getting further diluted or going bust. This man never achieves for the shareholders.
sorry but your statement and its context is not believable. Bell reported buying RRR shares.
IMO its more like --dont buy MY shares as in Bell is NOT selling
I could also state --dont buy my (RRR) shares as I am not selling
*********
NB I bought my RRR shares at higher prices. I understood the risk/reward. I am not happy with the lower price. I think RRR takes on too many projects without doing something on the other projects. At some point RRR has to find partners for those projects
Bell clearly stated don't buy my shares.(RRR)
Therefore is unfit to be a director or hold company office.
because he demonstates no faith in his judgement or product.
He may delist the company by declaring insufficent funds to continue trading or take the company private thus leaving share holders with nothing.
His track record of p***ing share holdersfunds up the wall to maintain his first class lifestyle for the past 20 years should come to a close.
Unless E.OIL pays out .
He has been selling down stock.
https://twitter.com/Thematicafunds/status/1517606412746113024?t=-Ipf80v36PQ1irY7BkuZGg&s=19
One wonders how many shares RRR now hold in POW, their share price seems to be showing signs of life now the massive .75p warrant overhang is now down to a trickle.
Bell last declared 37m in late October taking the position below 3%, there is no clarity on this issue but if I recall correctly Bell rebuffed market rumours that RRR were dumping POW shares so one wonders if RRR do indeed have a reasonable position still.
POW is the kind of stock that has the potential to move quickly but Johnson in a recent interview has confirmed they have overstretched themselves intentionally as he purports to want to build them to mid cap status, one does wonder about that given funding will be needed and how much dilution is ahead.
Maybe a rally in the POW share price will add some value to RRR, in the meantime Johnson seems to have been far less generous over his warrant handouts, the next ones being priced at 3p and the last placing takers only received 1 for 2 as opposed to 1 for 1 in the past.
I have been here many years ,before the Greenland fiasco and it has been down hill all the way to date.
don't forget ballarat ipo too. h5o
Unfortunately the sector is still in the doldrums, as mentioned in a previous post even Power Metals (POW) with their almost daily RNS stream, media interviews, posse of HNW and loyal shareholders, a popular and well followed CEO in Paul Jonhson + continued ramping by Twitter influencers their share price remains in the gutter from last years high of 3.5p, some other peers are down even higher percentages.
I have been ultra critical of Bell and wanted him gone but the plain fact remains, as we all know, all boats rise when the sector becomes fashionable, some seem to think, after a near 18 month demise, the sector is close to becoming fashionable again, only time will tell but Red Rock are not the only company whose share price is in the gutter.
Maybe just maybe one of the strings of the portfolio will deliver value well beyond the current market cap, hopefully starting with Elephant Oil.
It's really a question of whether this Elephant Oil IPO goes ahead and AB has the sense to dump the shares for working capital (*funding ongoing losses) and that's assuming he even can, as there could be a lock-in agreement. Or, he has to do fundraise which will be hugely dilutive even for £1m now that the mkt cap has slipped so low + the discount demanded by the bucket shops. Everyone knows which one is most likely by now.
I really need to ask AB for the contact details of the major shareholders. Seems easy to sweet talk them into anything. I've got some chocolate teapots, inflatable dartboards, lead parachutes etc. to sell them. What an absolute shambles of a company.