Let's face it, other than dilution RNS's and the odd snippet of news here and there, we are all totally in the dark with regards to the state of play and future prospects of both Kenya & Greenland, which in all honesty should be our 2 main areas of focus as realistically a million quid from Colombia isn't going to be the end of all our woes.
JMS is outwith our control and IC is a long way away, in all honest other than chatboard speculation, the last actual update on Greenland was the oubliette crack released via newsletter and that is really not good enough.
Ladeside I also wonder where all the money is going to. Maybe we will all get a surprise but just hope it is a good one! I e-mailed the Company over the weekend expressing my concerns but have not received a reply.
"All the lies that THEY spouted lawyers been paid off "
Important to understand who THEY are/were. THEY is not RRR. RRR were told that completion bonuses had been paid. Equally RRR were told by the lawyers that they expected the deal to complete in Aug 2013. It wasn't RRR saying that it would complete in those timescales and indeed AB made his "treat with a pinch of salt" statement in an interview at that time, clearly indicating to me that he was skeptical. Nevertheless I believe it was a huge mislead by the lawyers and they should have been held to account for it.
My gripe would be more along the lines of why was cash from previous raisings not put aside to cover these "joint expenses".
It begs the question as to what we actually used the previous cash for, as other than the "joint costs" such as Admin, wages, Electricity, and general office maintenance costs, then what costs have we ?
Greenland is mothballed (or locked in the oubliette), IC is underwritten by Daniel, Kenya appears to be at a standstill, El Limon is allegedly a "profitable mine" and we are actually receiving cash for DD !!
Not at all - if the shared bills are due now then it is RRR's responsibility to pay with cash to hand, cash raised at the current placing price, or with via share issuance. The alternative would be for RGM to wait for the El Limon Sale and have to raise more cash in the meantime at the currently depressed RGM price to cover RRR's share of joint expenses. For what it's worth the feeling by some on the RGM board is that they would rather have the cash!
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