We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I have suggested this before. At least if you had PJ in charge of a combined POW/RRR you would know what's going on and he would bother to market the company effectively.
As a long term shareholder, with no warrants at all, I share the frustrations of others waiting for projects to come to fruition, but it is apparent that RRAL will come good sometime this year, probably because of the drive and influence of our JV partner, POW.
We all know that AB has a contractual time commitment to POW and it is probable that their recent progress in DRC was down to his involvement, so it is evident that the PJ influence has probably boosted the AB desire to get things on the move.
The BOD of RRR has let down shareholders many times over the years by failing to keep them informed of the Company's activities so is it possible to galvanise RRR by persuading PJ to engineer a takeover by POW, then at least we would all know what was going on.
Ha!
I took £180k ish in the Kansai deal and subsequently exercised some 0.75p warrants: next question! So about £190k and a bit.
You should talk to some barristers: first rule is never ask a question that you don't know the answer to.
There is a difference between being diluted to cover overhead and being diluted to acquire assets. RRR is in a much better position than two years ago. It has lost no assets, has added assets and moved assets towards monetisation.
Same applies as before, you want to call the shots; get your cheque book out. If you or someone you know wants a big stake, I can arrange it for the right price and then you can do what you want. 3p a share and I think we have a deal.
DYOR
Have you listened to the interview TDT?
"I suggest that you listen to the recent Tom Winnifrith podcast where he interrogates AB."
TW interrogating his buddy! That reminds me of Denis Healey's famous comment about debating with Geoffry Howe "Like being savaged by a dead sheep.”
TDT
“Everything takes time” isn’t a reasonable excuse anymore. It’s been 6 years (11 years for some). Weeks turn into months and literal years. That’s enough to go, he should go. It’s embarrassing to keep defending him. I have no appetite to buy the company, I have plenty of other things going on. I had a sizeable investment and cannot trust the CEO. No one can.
“Things take time” - this is not acceptable to hear anymore. Cow dung takes time and turns into fossil fuels eventually, time time and more time, and more dilution and more pay for Bell. Can’t believe a smart person like yourself doesn’t see it. You’ve said it for 2 years now. Nothing
The interviews are nonsense. The SP is unchanged and there has been perhaps 20-40 interviews. What’s the point? None. Waste of oxygen. Shareholders want TANGIBLE PROGRESS.
And again, you’re missing my point. £24m, so what? 1) if people believed that then the SP would be bought in anticipation. Why aren’t YOU buying if you believe that? 2) connected but more importantly, regardless even with that cash, so what? Bell has never used money well, so people don’t believe even if handed a cheque tomorrow that he would do nothing but waste it. And THAT is why the SP is depressed and will remain so until the CEO is changed. I’ve said it for over a year. Nothing has been done except dilution. And you can say all you want about the progress but the reality is shareholders have just been diluted. That’s all. So negative progress.
PS for those amongst us who have to take their shoes and socks off for counting: £24mil is more than the current market capitalisation of the company.
DYOR
I know you can read as well as I can. I know you have read the RNSs and you exactly what the money was used for: completing the Kansai deal.
One director went at the AGM because we voted against him. AB no longer controls the board.
I suggest that you listen to the recent Tom Winnifrith podcast where he interrogates AB.
In it, he commits to making a special dividend if the RRAL IPO turns out to be material. The amount RRAL was worth to RRR at IPO was mooted as being around £24mil.
Things just take time. RRR was hoping to get RRAL listed a long time ago and it has just taken longer because of COVID, the shutdowns in Victoria and the deluge of applications to GeoVic.
The listing of Juno was delayed two months because of the messing around by ABP. It lists tomorrow on ASX, about 11pm our time today. Another asset on the balance sheet. You should listen to the interview with Greg Dudack from this morning. Very interesting.
It looks to me that RRR/POW will be hoping to list RRAL around the end of June.
If you want to call the shots, make an offer. Everything is for sale.
As always DYOR.
Get the CEO changed. I don’t know how many times I have to say it. During a strong market rally, the strongest in history, RRR has done...nothing. And no amount of upcoming news or IPOs will change that - why? Because no one at all believes in Bell. Helpful - play this out. Even if RRR receives £10m tomorrow, that won’t ‘add on’ to the SP, because no one has any faith that he won’t just waste it, as always. What’s happened to the £2m raised over the last few months? Nothing heard at all. Dreadful at executing progress and great at wasting money. For the last 12 years the CEO has done this. If the upcoming news was so good then people would be buying shares here, but no one is because there is zero confidence in him. The board doesn’t ever buy shares in the open market unlike POW, because well...where do I start - milking the shareholders here and occasionally issuing themselves more shares at diluted shareholders expense. This should be escalated as it’s now beyond embarrassing. No announcement is going to get this SP to where is should be because it’s discounted due to shocking management. That changing is the only thing which will get RRR to real value. I’ve said it 20+ times, no one listens. I owned nearly 5% of this company a year ago, then it was 2%, and through Bell’s dilution that is now 1%. Many others have had it worse. It’s a disgrace.