On paper I would agree about IC, however history tells us to be very wary of "the next great thing".
ds obviously believes in IC otherwise he wouldn't be investing so heavily and of course that's his main reason for being involved with RRR, however it does worry me that we're back to chasing rainbows similar to Greenland, Kenya and Colombia and so far that Pot of Gold has proved rather illusive...........................
Kenya... so what happened to Ariel? We kept getting told that we would be updated shortly and then silence for the last number of months. I have asked AB and didn't give me an answer. So he has spent SH money engaging a consultant and then refuses to provide an update. I'm pretty sure we own this company not him and so he should update us. At least that way we can see exactly how he is wasting our money.
Slightly, as I think IC could be a game changer too. I don't see anything happening in Kenya now, for ages. I don't understand why there is too much emphasis on the political situation. It shouldn't stop us proving up what we have thee, tidying up the ownership issues with MMM/Kansai etc. It should stop us getting this BFS which we've been promised for years now. IC, yes, it will be a money pit, but if we find something significant, it could transfer and rerate the SP. We will need to dilute to fund, but at that point, it won't hurt so much if it's say at 1p? I'm dissapointed with the second and third tranches now being Promissory Notes, rather thanj straight cash, but hopefully this will help for a further six months or so. I'm a little confused about prommisory notes and can see it as a way of delaying some how?
It was clear from the Con Call that absolutely nothing is happening in Kenya.
Blamed local political changes, but even so not much occurring. If there were - MMM and the directors would know?
Only way out on Kenya would be to try to get a small scale, targeted gold mining operation up and running. Focus on the richer ground, but good luck with that, i think we all know what RRR can achieve when they have a mine in their hands...... a mess.
I personally believe the most important part of the RRR portfolio at the moment is Kenya.
We all know that JMS shares more or less are the chess piece keeping us in business and underwriting the company, however the amount we are due to get from Colombia (1st tranche), is realistically only going to cover costs and Bond repayments for the first 6 months of the year (at best).
So, with that money accounted for and El Limon removed from our list of assets then where does that leave us ?
What is going to add value ?
Kenya IMHO is the ONLY project which can deliver us any unexpected wealth as Greenland is currently worthless and IC is going to be a money pit which will provide us with no returns for the near to mid term at least.
Other than Kenya, it would just be a game of waiting and hoping that JMS was taken out and that we get a large cash injection, apart from that I can't see anything which will change our fortunes here.
Actually, at the end, AB asked if there were further questions. Nobody piped up, so he ended the call. You had your chance to ask. The reason Ian Wright had so much of the time was because he was forceful. If you were so intent on asking that question, you could have asked it on more than one occassion.
You were on the call were you not ? Why didnt you ask these questions ? You had the chance ? We can not answer them so why do you keep asking them on here. Are you thick ?? Or does it just suit your agenda ?? But I suppose if u had asked a question and Mr Bell had worked out who it was - He could have responded by saying this call is for share holders so why are you on the phone, because AB knows you do not hold. .AND THAT IS A FACT AS AN INVESTIGATION WAS DONE ON YOU WHICH PROVED IT. You had a chance to talk and air you concerns and you **** out, rather repeat on here again and again like some sad low life scum who has no life and nothing better to do. Thats is all .....
The call went on for about 1 hr and when he asked about any other questions there was a long pause. You could have your own private conference call right now. You can just pick up the phone and call the number on the RNSs.
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