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Which will likely do nothing to the share price as usual - because no one wants to buy here whilst Bell wastes money ALWAYS. Useless CEO. It’s a pattern that you cannot deny. It doesn’t matter if RRR sells an asset for £10m - no one values it whilst Bell wastes money. 13 years and he’s delivered - NOTHING. Get the guy out and you see our true value. Would love to be proved wrong as I own a lot of shares here but he’s a joke
Good news on Juno.
Expediting the Mt Mason work programmes.
All good news for RRR.
DYOR
Unlike most on here you are financially astute and financially educated. If you read the RNSs and the accounts, it is quite clear where the money has gone. RRR had to make stage payments to Kansai for the Migori transaction.
I have said to you multiple times. We need evolution not revolution. The board was changed at the AGM and I expect it will change more in due course.
Now is not the time to cause unnecessary problems, if you feel differently that is fine.
We need the exploration programme in Mikei kicking off, we need the update on Luanshimba, we need news on the RRAL listing and confirmation that Juno is back on track. I expect we will get a result on Adidi Kanga and we are due a new license in DRC.
FYI re Juno
https://www.pinsentmasons.com/out-law/guides/australias-foreign-investment-regime#:~:text=Foreign%20investments%20in%20Australia%20are,Investment%20Review%20Board%20(FIRB).
I wouldn't be surprised to hear that ABP don't know their rear end from their elbow on this matter. I have had someone look at it and his view is that ABP do in fact not know their rear end from their elbow.
Lets see.
DYOR
To point out when I say "let's not forget". The loan facility could have easily been missed by shareholders because it was first mentioned when it was buried deep in the 2019 final results RNS. At that time it was a $1 million loan facility and $200,000 had been drawn down. Then you found out in the 2020 final results RNS that it was now a $2 million loan facility and $1.4 million had been drawn down.
Let's not forget Bell also set up a RRR subsidiary company called 'RRR coal ltd' and then through that subsidiary he used Red Rock's assets to get a $1 million loan facility then recently updated to a $2 million loan facility with YA and Riverfort.
If I recall correctly buried away in the December final results RNS it said Mr Bell had already drawn down $1.4 million. So I think it's pretty sure by now he's fully maxed out the $2 million. The final results RNS says that repayments will begin in June 2021 and the loan must be paid back over a 6 month period.
I’ve said this many times - but for some reason Helpful wants to keep this CEO (who STILL hasn’t explained where the £1m was spent that was raised in the middle of last year that seemingly went unnoticed). I only own 2% of outstanding shares now, and won’t buy more until Bell is gone. All he would do would be to see the price rise and fundraise/dilute again, so I have no confidence with this person in charge of sustained value. It’s disgraceful and he needs to go!
benefit for shareholders? Is there any?
Reading Orion10, it is evident that hindsight is a wonderful thing BUT, we must move forward.
On the assumption that HELPFUL & LONGTERM who seem well connected to the BOD are not, but are aware of, the Mr Topham who holds 16% of the shares, is it not possible for them to put forward a strong candidate for the Board, who would provide the blinkers that AB needs, to bring these projects to a fruition, for the benefit of ALL Shareholders.
Nobody important.
I just read the stuff that is out there, remember it and put it together from time to time.
I was mentioning the iron ore assets just under two years ago. It has taken this long for progress to be made. 11th March is a big day.
RRR has other ignored assets that will do well in due course. I expect that RRR will do very well out of POW in due course.
DYOR
Hi Helpful
It’s puzzling me for a while. Who are you really? You can’t be ordinary investor like us as you have info which only bod can have.
By the way I like reading your posts.
Just watched the Andrew Bell interview from the other day that most were moaning about and I've got to agree it was a tedious rambling interview. He certainly loves his own voice does Andrew.
At the 2 minute 30 second mark watch the interviewer ask him a question and then he rambles on for 3 minutes and he doesn't even answer the question.
https://m.youtube.com/watch?v=YompXPouf6Q
We can spin out and raise money or royalties as much as we like. It doesn’t make the slightest difference because AB wastes the money EVERY. SINGLE. TIME. Completely incompetent. If anyone thought any different they would be buying shares here. Take the hint and get him gone. Don’t know how long until people change it or believe it. When I was announced as a major shareholder here the very next day the guy called me asking for more money on a PP. embarrassing.
He did an interview a couple of months back talking about JMS. He was saying that RRR had a strategic interest in JMS because of the iron ore assets being spun out of JMS (Juno Minerals Ltd 11/03/2021) and that once they had gone it made less sense for him to be a director. He also flagged up that JMS was at a large discount to its true value and that either the value would rise or a bid would come in. Either way, he is flagging up an exit from JMS for him and RRR.
Once the JML spin out is complete on 11/03/2021, it brings closer us monetising the iron ore royalties.
DYOR
I suppose we are stuck with AB. I used to own millions of shares here but now only own thousands of shares yet I have never sold a single share. Don't suppose AB has suffered the same dilution.
Maybe the best out is to merge with POW and let PJ manage the PR. Bell may be a better chairman with more skin in the game like he has at POW. Just a thought. Wonder if they have thought the same!
Unfortunately at the moment, I think dwauk is correct. This recent fall is disappointing, particularly for us long term holders who maybe saw a way out. Even at a loss. My biggest gripe with Andrew is that for all the money spent over the years. We do not not have more to show for it going in to a possible upcycle. I still believe we will hit that 2p region. The news flow hasn't been bad...Just need someone else on the board with more conviction to the cause.
Be careful what you wish for.
There is a need to accept the fact that neither of the other 2 Directors of RRR would have the inclination, or the ability, to replace AB, and that for AB it is but a part time job that he enjoys.
He is committed to POW for 162 Days per year ( see P23 of the POW 2020 Accounts ), is entangled with Jupiter, so it is likely that he has little time left whilst jetting about the world to quickly bring any of our Projects to fruition, although you have to accept that there has been more news recently than in previous years.
If he was not at the helm. who would shareholders want to have in charge ??
At this moment, I believe that we need to recognise, whether we like it or not, that we rise and fall with AB.
The small resource companies sector is off a bit and gold is off a bit.
https://twitter.com/pauljohnson9691/status/1367754290664718338?s=20
https://www.lse.co.uk/rns/RRR/kansai-completion-of-purchase-oefz6bk6g15lboo.html
"Kansai has agreed to sell 52,437,048 Shares to be issued under the Share Payment to a number of substantial private investors"
How do you know that existing large shareholders haven't taken shares? No TR1s are due yet.
DYOR
Many people on here would agree and have been saying it for years. I can only assume large shareholders don't agree.
GET BELL OUT. When are people going to see this will go nowhere until he’s gone. Totally useless full of bumbling fluff CEO.
No amount of links, interviews or RNSs will help. There’s been strong positive news here the last few weeks and RRR should be closer to 2p now but it’s never going to achieve close to full value with this guy as the CEO.
Time and time again, it’s clear as day. If this is so undervalued and full of potential then why are new investors not buying shares here? If large shareholders had confidence they would. But any rise and Bell fundraises. He’s a joke and should be accountable. Where did the last £1m go before this last £1m was raised? Still questions not been answered. Why are directors not buying shares on the open market? Answer - no confidence and no signals of confidence because this is the worst management I’ve ever invested in.
I own enough shares here and no one is clearly buying with the failure in chief. Good news and price down. Same over and over. and nothing will change that until bell gone. I’ve invested for a long time. If this was so undervalued then walk into a room, show the assets and people will run to buy shares. But no one will because no one trusts bell. Useless. Get him out.