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And up pops helpless or baby bell - end as he’s known. I think the article in the link sums up this company exactly. By the way you don’t need to hold shares to use a chat board 😉
Talkie, looks like you have joined the non-shareholders troll club after all. Can't keep up the pretence who just being interested in "debate" for very long, hey?
DVH - You fell for the usual non-committal clever wording... we 'HOPE' for an update.
Rest assured though, Barry the Country Manager is on the case.
Were we not going to receive an update? Wednesday is the middle of 'next week'....
14 Feb RNS: 'We have been in constant communication with our country representative, our lawyer, and our local partner and matters to resolve the above are progressing. We hope for a further update by the end of this week or early next week.'
Robins they have to pay Kanssi $1m. They have said they will use DRC proceeds. Andrew boxes himself in at every juncture.
Its been ages since we heard any good news here. Does anyone know how long it will be before renewal??
This one may help . . . lol
https://www.guerillainvesting.co.uk/2017/07/03/red-rock-resources-laughable-ramp-tom-winnifrith-
Does anybody have any links to the DRC award, or any trustworthy press articles, to collaborate Bells version of events, apart from RRR rns's?
There is no money from the DRC, is a complete fugazi. Bell knows it hence the attempt to shift focus to gold licenses. He has to keep the gravy train running.
Good post LAT'' without been nasty'' as a time line has been triggered'' for last weekend, and we don't want it to be held up and not be announce ? because people like William Black are not fully loaded yet'' if you get my gist''
but i did get the feeling from last week when we got that DRC update that we would see a few holding RNS before the big news as they just can't help themselves LOL!! Robbing CNTS but i suppose that's the norm when we decide to invest in stock at these levels'' that contains lots of bickering never a dull moment, FEAR & GREED'''
Not oftern all agree on here but consensus seems to be (1) too many spinning plates (2) AB is probably a drag.
Taken a long time but do I dedect common ground.
For instance on Burkina Faso, this is the presentation from the company's website
https://www.rrrplc.com/wp-content/uploads/2023/11/2311_FGR-Exploring-West-Africas-Greenstones.pdf
From page 5.
Faso Minerals aims to discover two potential gold deposits for mine
development and obtain a public listing or other liquidity event within two
years.
➢Other projects will be sold, joint ventured, or left in the project pipeline. Faso
aims to raise pre-IPO funding in one or more tranches.
Since RRR has stated that we have alluvial gold at Bilbale and intends to bring it into production quickly.
Contract renewal at Bilbale (Au) and license renewal at Boulon (Au) in Burkina Faso
o Geochemical testing of Bilbale license and mapping of key zones has begun, with a view to semi-mechanised mining of alluvial areas and follow up drilling of hard rock targets
o Promising rock chip results from mapped areas at Bilbale, including 14.7 g/t and 11.2 g/t Au
o Development team arriving on site in Bilbale
But all the experts who read everything know all this.
DYOR
Look what has happened at Corcel and ECR since new management came in, both have multi bagged and their existing projects were nothing great.
I know you know AB well. Do you not agree that everything he tries either fails or is delayed for an assortment of reasons. Can one man be so unlucky or is his failure to see a project through down by other factors?
Have RRR not said they will likely make a loss on 1st export sale?
Depends on the price when sold in China: likely doesn't mean will. They intend to sell in the spot market, so no one knows what the price will be. Speculation.
Have RRR not said they thought that CNY hindered buying
They referred to demurrage and yes, there was no point trying to land material in the run up to CNY and during CNY.
Have RRR not said without DRC they will likely need funding - possibly through asset sale / other?
RRR has said that it will seek to monetise its assets several times. It did have a JV lined up for Kenya that was kiboshed because of COVID lockdowns. Regardless of the DRC cash, RRR should be looking to do deals on its assets for lots of reasons. It has too many assets for the management bandwidth, even though most of the doing is done by teams on the ground. It needs to show that it can monetise assets. It needs to show that the assets have value for balance sheet purposes. It has seven licences applications in CDI: two issued, four in process about to be issued and one a bit further down the pipeline. On CDI RRR has already said it is in discussions with at least four companies. On Burkina Faso it has two licences issued and another 3/4 in the pipeline. On Zim it has seven licences in the process. Whether the cash comes in from DRC soon or not, RRR should be on with this process and show it is producing shareholder value.
RRR advised they had completed an export in November which, I agree with you is a milestone but not the end game. The end game was to export to China for sale and build an export market which generates cash flow and hopefully some profits - hence the 5 Chinese Buyers being mentioned. Do you agree?
No. The last bit is irrelevant. They can either sign up offtakers or sell in the market. The company has said it will be selling in the spot market, therefore it doesn't need offtakers. Whoever bids highest in the spot market gets the product. What happens is that they turn up at the warehouse with proof of payment and they take what they have bought.
Higher volumes and/or higher prices we might need offtakers but not right now.
Things change in business. RRR has looked at lots of deals it hasn't proceeded with.
NB my general view of the way forward is that RRR should have a few decent income producing assets and the rest are there to be traded. As I have said several times, near term we should have three possibly four income producing assets: Faso Minerals, ALR, the new O&G deal (if it can be done) and El Limon (though I suspect the timing on this has slipped a bit because of the CEO's issues).
DYOR
News - Look up IPCM ? See if there any similarities with Greenland sale ! Just saying!
Current topic of discussion on London South East, RRR.
Link given in this thread hails from 13.2.2013 RRR RNS :"Update: Proposed sale of interest in Greenland: There can be NO assurance that the OFFER will CLOSE until such time ALL PARTIES sign DEFINITIVE AGREEMENTS."
Link does not evidence sale.?
DRC Update overdue/imminent?
We have been in constant communication with our country representative, our lawyer, and our local partner and matters to resolve the above are progressing. We hope for a further update by the end of this week or early next week.
Helpful - I'm always happy to debate with you if you don't get petty.
If you have shares you must be severely underwater and therefore it would be good if you could clarify what keeps you invested despite the ongoing dilution to your investment here. What do you consider to be a lot of shares?
I advised my strategy was to sell ahead of further dilution to protect my investment from further loss - why did you decide not do the same to add some context? If you've been here more than 2 years you must be in excess of 70% down unless you keep topping up?
I am bringing to the surface what the company has said and debating on a forum to gauge other (sometimes opposing) views on the matter. As you can see others are now joining and asking what happened to the Greenland money. These snippets along with own research give new & existing investors insight in to how a company is, or has been run and the confidence to invest or look for potential elsewhere.
Subject in hand... no trolling
Have RRR not said they will likely make a loss on 1st export sale?
Have RRR not said they thought that CNY hindered buying
Have RRR not said without DRC they will likely need funding - possibly through asset sale / other?
RRR advised they had completed an export in November which, I agree with you is a milestone but not the end game. The end game was to export to China for sale and build an export market which generates cash flow and hopefully some profits - hence the 5 Chinese Buyers being mentioned. Do you agree?
No trolling, just tabling what is the current state of play on an existing project before RRR jumps into yet another scheme requiring funding.
For full disclosure I am still watching this company - had the AGM been pushed back a few weeks I would have felt safer and maybe even bought a few more to average down. Luckily, I've already made 15% on ECR which is good timing but I see a bigger prize here short term with DRC if a positive RNS lands.
C'mon Barry if you're reading in - pull your finger out !!!
I sometime get the impression that MM just gets bored waiting on sellers with none in sight lately'' and just drop to be spiteful hoping it may trigger a reaction, just like some of the posters that frequent these boards
anyway 11m buys to 1m sells, although still early, tells us all we need to know''
thanks for the X post HP''
ATB
To be fair RRR doesn't take much talking down. It's performance speaks for itself.
At the risk of having to lawyer up there is a degree of skepticism about the actual. existence of the 200 tonnes. The pictures did not help nor one truck crossing a border nor the debate about an export.
It would be good to clarify once and for all.
We either have it or we don't.
With the amount of capital tied up it would be better if we had not got it. If we have so be it but as Talkinto says sell at a loss.
A clear statement from the company would clarify.
Talkie wrong again. I have a lot of shares.
So I will just note you are the non-shareholder trolling group trying to talk the company down.
xx
Helpless - My intentions an actions were made clear in my prior posts.
You are in the non-shareholder group aren't you - Pretty certain you hold no direct shares in RRR - correct?
Hi Aimdogs $10.7m
The money somehow got lost in the Cypriot banking system.
https://www.marketscreener.com/quote/stock/RED-ROCK-RESOURCES-PLC-4005432/news/Red-Rock-Resources-Plc-Update-on-Proposed-Sale-of-Interest-in-Greenland-16048281/
So Talkie have you joined the non-shareholder trolling club or did you not sell on Friday?