I answered no because that was my gut feeling, i didn't go through each and every RNS RRR have ever produced as i was speaking in general terms. You picked me up on this because i provided a positive view where RRR bought back Jupiter shares, timing is everything, he bought back because he had confidence in Jupiter, he obviously had to dilute as we look back and recall events from the past when bills became due, you can't have it all way's. First you say he sold because he lacked confidence in the share, when i point out he also bought shares you then try to link with a your made up story that this action brought bad feeling and wiped millions of the RRR share price. I'm confident in RRR and i'm feeling quite upbeat however hard you and your buddy tries to dampen my enthusiasm. Roll on Monday.
Well that was then and it remains to be seen how the future differs.we will know a bit more hopefully next week.hopefully jms will bail out rrr,because take jms out of rrr and there is very little of Any value left.so lets hope that jokey and the rest of the ramp squad are correct.I will be very happy to multibag here but will always take anything said with a "pinch of salt "to quote an ab phrase .nobody here expects rrr to issue a dividend I note .would be about 6 years since ab predicted rrr maiden dividend.as has been mentioned there is no obligation for jms to continue to issue a dividend as they have their own agenda.Also the profitability may well change at some point.if there is the likelyhood of a jms sale then I would imagine voluntarilly selling jms shares in a buyback while others hold would be irrational.best to deal in facts rather than predictions.the facts so far are there in rns.the future is unseen.lets see what happens.
It is quite hilarious looking back at that old proactiveinvestors article from August 2013.
Anybody who says that the Kenyan licences getting revoked in 2015 was unlucky. Not a bit of it! Look at the proactinvestors article from 2013, he dismissed that it could happen. Then once dismissed he continued to sink millions into it. Total incompetence!
Virtually everything said in that article: the opposite happened. No wonder PI's got suckered in.
"The explorer revealed on Monday that the sale of a majority stake in Nama Greenland could get the formal sign-off later this month.
Shares in Red Rock Resources surged on Tuesday after revealing yesterday that the sale of a majority stake in Nama Greenland could get the formal sign-off later this month.
Shares surged over 65% on Tuesday but reached an intra-day highs of 0.81p.
Speaking to Proactive, Andrew Bell, chairman of Red Rock, suggested that with the Greenland deal now looking about to happen, and other company deals progressing, the market had been spurred into life.
"People are suddenly getting the sense, that having panicked and thought the company was more or less valueless, actually if you look at one of these assets - each one maybe supports the share price to a considerable extent," he noted.
Once the formal Greenland offer is made, he said, there will only be one condition remaining, which is that the Greenland government give approval for the transfer, something that is unlikely to cause a delay, said Bell.
Nama own the Melville Bugt iron ore property in Greenland.
Red Rock said lawyers acting on behalf of the buyer had approved the deal terms but without definitive signed agreements, a deal could not be assumed.
The sale had been earlier thrown into doubt after delays due to an investor holding significant amounts of cash in Cypriot banks at the height of that country's financial turmoil.
Meanwhile, in Kenya, at one of Red Rock’s other projects, Bell said he did not expect the firm to be affected by news on Monday that the country's government will revoke licences issued during the first five months of the year and review any possible irregularities in licensing during that period.
The time frame is between the dissolution of parliament and before the elections held under the new constitution.
Red Rock has an interest in the Macalder gold tailings project in Kenya through its direct and indirect holdings in the Mid Midori Mining Company.
The firm submitted an application for a mining licence over the small part of these Kenyan licences covering the tailings in August last year and before the period in question.
Meanwhile, at the gold mining operations in Colombia, Red Rock says an illegal stoppage, first announced last month, had not entirely ended, but the impact on production at the El Limon mine has so far been minimal.
The firm also highlighted the progress being made by 38.6% owned Australian investee Resource Star which is currently working to re-launch itself as an oil business and set to buy a leases containing 96 wells in Texas.
Red Rock will be conducting the due diligence on behalf of Resource Star and Bell said the project is "potentially very exciting if it all works".
Finally, Red Rock revealed Monday that it continues in mediation efforts to find an optimal solution for Ascot Mining, which is currently suspended on the IS
Well I am in for a punt at .60,but not prepared to suddenly turn tail like some just because I have put a bit of cash in.I hope to claw some cash back. I cant be a hipocrite,the story to date is one of mismanagement and misleading statements from rrr.they do appear to have an opportunity to finally draw a line under this 5 year period of abject failure for share holders.personally I would prefer to see someone else taking this company forward but that is very unlikely.simply calling people derampers when they have called the situation correctly in the face of "positive" posters constantly predicting rrr re rate is laughable.who has been correct over that period isdeer ,cmon be honest during that 99 pcent crash in share price there have been a constant stream of long gone posters shouting derampers with rose tinted glasses predicting 3 p parties (matty included) briar,adam masood,etc and lets not forget ab's attack dog vinny gnashing away all through this period.lets see what the future holds meanwhile I havnt seen anyone doing the maths yet on those sales.oh left out my old favourite 9r and his classic ,greenland cash by the end of the week "mark my words" that was during the .40 -1.20 p spike that left the likes of zumore possibly spiked as the price crashed when the news that the deal had failed was disclosed by a poster on here.
when i asked you a couple of weeks ago whether Bell had made any good investments from the £9-£10 million that he's raised these past 3-4 years, your answer was no. When you answered no i was half expecting you to mention that 2013-14 rebuying of more Jupiter shares. But even if you said those buying of Jupiter shares i wouldn't have agreed with you because he did a fundraise of £297,000 at a placing price of 0.66p (before consolidation price) to buy those Jupiter shares but just two months later he did another £360,000 placing at a placing price of 0.47p, so i'm sure that £297,000 placing (along with more delays waiting for the Greenland sale to happen) decimated the RRR share price because just two months later RRR did another placing at a much lower 0.47p. Plus i remember in autumn 2013 the Mcap was £13 million for a 1p share price and and so that £297,000 placing to buy JMS shares probably added to the feel bad factor that subsequently wiped millions off the RRR Mcap.
Plus of course those 7 million bought Jupiter shares in 2013 are now pretty much illiquid. Sure RRR are likely to get a dividend from them but they still seem unsaleable. So although today that purchase probably now looks good to you, i'm sure back in the day that £297,000 placing wiped millions from the RRR Mcap.
Sure, if Bell had not sold JMS back then, and not bought into what might be described as inferior investments then the company would be sitting in a prettier position than it is today. Not many people would argue with that so what's the point in repeating it ad infinitum?
As a few of us have said, that was then and this is now. The market is recognising that RRR is looking undervalued and it's being repriced accordingly.
Was waiting for that one lol.yep,hardly makes up for the 54.5 million sold though does it.So we sell 54 million shares for 4.5 m aus dollars bell spends it then we have a placing for £297,000 to buy 10 million shares,so we issue more shares to raise £300k to end up with 44 million shares less than we previously had.I what way can that be considered good busines.now if we had kept the 54.5 million jms shares and added 10 million more that would have been good and we would be sitting pretty.this a good example of why ltholders have little faith in bells dealmaking.those jms shares were wasted on the ill judged investments he made on rrr shareholders behalf.this dividend is good news but in no way reflects on bells wise investing.
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