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Don't confuse him: he thinks the only costs that matter are those from 2012 when RRR had about 30 staff.
It costs EVERY AIM company £250k/£300k for it's annual listing, that is a well know fact, Nomad, Advisors etc
Recent salaries for RRR have been modest - Bell base salary was £82k in 2020, same in 2019 - total director base salaries were £183,000 in 2020 - comparable to many peers.
G&A costs (which include those salaries) were £600k for both 2020 and 2019 - again comparable to peers.
The running costs of Red Rock are no different to most other junior resource stocks.
Magic pal - stop regurgitating the same nonsense, we’ve seen your copy and paste message before. Difference is I’m bullish RRR but not Bell. Yes, some of your points have a similar pattern now but stop with the copy and paste. The current projects have such potential, and I would rather discuss or critique in the present (if you so wish) than all this past stuff
Wiltshireman - "Nevertheless how do you keep good employees onboard if you don't dangle 'carats' in front of them?"
Do you realise how many employees there are and what they get?!!!!!
The Annual Results stated:
"The Group retains a lean operating structure, with only three employees and both accounting and geological services outsourced. "
It also listed the average number of employees for the year as 4 Executives and 1 Administration.
This TINY collective of spivs burned through £597,000 in Administration Expenses alone last year and this is a regular occurrence. Over the years they have squandered £millions and £millions on their Admin and Expenses.
In fact between 2012 and 2019 old Belly Boy raised over £16 million cash from various share issues and dilution.
In that same period he frittered away over £12 million just on Admin and expenses.
The situation is patently ridiculous, preposterous and just a bared-faced totally flagrant self-serving life-style outfit.
Anyone who still puts their money into this POS simply deserves to lose their money .
As if this were not bad enough of it's own accord, the company has now demonstrated a callous disregard for shareholders in failing numerous times to RNS key loans, transactions and events.
They agreed loans and transactions with Amulet Diamonds which were not RNS'd and which appeared in the Annual Report 5 months later.
They failed to RNS that the Steelmin venture had ceased production
They failed to RNS a £1.1 million loan to the failing Steelmin venture which was ultimately lost
They failed to RNS Steelmin going into Administration despite RRR holding a 22% stake there.
The whole thing is a total joke and has been for years. The modus operandi never changes. Just endless carrot dangling "jam tomorrow" BS to lure in mugpunters and endless issuing of shares with crony lenders like Cornhill.
Nominal share value has already been lowered from 0.1p to 0.01p so dilution could continue
Shares have already been consolidated
There will never be shareholder value to be had while ever this BOD are in place.
There are so many better shares out there to even give this lifestyle outfit a second glance
DYOR
Zumore this is the problem with the man, basically no shame. I have only spoken with him once around the time of Greenland so I can only judge him by his actions. He once told me he had reduced his salary to help with our cash flow. I thought that was a good deed only to find the next year he paid himself his full salary PLUS the amount he had lost the year before. He in effect kidded me that he was trying to help shareholders .
Last post taken from Power metals February's warrant update RNS:. https://www.lse.co.uk/rns/POW/warrant-update-extension-of-insider-warrants-0rqsionf5cw6jk3.html
Above RNS says Red Rock will also be exercising their 20 million 1p warrants (cost £200,000) by 18 May.
Robins, by 18 May 2021 Andrew Bell will be exercising his 10 million 1p POW warrants. So he's willing to use £100,000 of his own money for that.
And I looked yesterday at how many shares AB has in POW so he is not short of a penny or two and so getting more shares here basically at the expense of long suffering shareholders just seems wrong. I know I could not do any better than AB but I bet there are others that could performance wise.
All in favour of incentivising employees but the board should be motivated by their salary alone and yes if they achieve something special give them a one off bonus afterwards. AB has been giving himself cheap shares for years and in that time the share price has gone down by around 90% according to the value of my rrr share account. Rinse and repeat with AB. Oh and the only reason I have not sold is because he just might do something with help from PJ.
Yes I admit I was wrong, perhaps free shares 'may' be offered but the rest are options in reality. Nevertheless how do you keep good employees onboard if you don't dangle 'carats' in front of them?
If you don't like it you can always get out robins. Note the use of the word incentivise not 'free' and they are options anyway.
BOD have no shame. Does anyone think they have ever deserved free / cheap shares. Their performance has never warranted free shares in my opinion.