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its the lowest 2 day trading volume that I have seen in over 4 years watching the RRR share price
good points. For even more speculation a new property might be a way for the major company to enter into a JV for funding as opposed to making a cash payment on the VUP deal to avoid admission of wrong doing - the court ordered payments would still be made
there a number of moving pieces here that we simply dont know
One wonders if the recently announced Congo deal was a form of window dressing to demonstrate to officialdom that Red Rock will invest in country. In return Red Rock will be looked on favourably re the courts and ministerial decision making, thus assisting ongoing financial claims.
In a recent interview Bell said something along the above lines, I also noticed that there was a payment accelerator clause in the deal if certain liquidity events occur for Red Rock, this means getting cash from the circa $12m owed, that to me suggests some cash is inbound.
Bell is still in the Congo so one assumes a final conclusion is not far away. Can he get the cash, how nice it would be to get a morning RNS saying a payment of $5m-$10m has been made.
Whitewater got $50,000 that must have come from somewhere
I have taken a tiny stake here as befitting a Bell stock. Seems like a reasonable chance of some action here in the near term, but then again it always does :)
I se some possible up lift in the share price. for now I feel like given current info. I will hold the stock I have. possible wait & see. share price has been at this level for some time. given the wide range of possible leads from a wide range of activities.
Agreed I wrote the same thing several weeks ago. Given the fraud history the attorney would be more careful than usual
Surely Bell would not extend his stay in the Congo for a fifth week unless he was having some success, the claim is effectively in 3 parts
1. Get $2.5m and $2m damages out of the former partner VUP
2. Get up to $7.5m from the subsidiary of the major mining company who are (apparently) willing to pay
3. Get a portion of the above $7.5m and in return attain a equal value licence package
He is basically dealing with 2 parties, the4 cash element should be straight forward, the money from VUP may be more challenging but the award to RRR of $4.5m is court approved. The delay may be associated with attaining a replacement licence.
The matter is something of a roulette wheel but Bell has suggested progress is being made so I feel more hopeful than last week, IF Bell can return to the UK with cash circa $5m-$10m and a new licence it will be one of his best achievements in a decade IMO.
those that are aware of the Congo tweet fall into the following categories
1) dont believe it or
2) already invested
me I am waiting very impatiently
Many a slip twixt cup and lip and all that good stuff.
Just saw the tweet on my Twitter feed, I have to say it seems positive, Bell would not say on for 4+ weeks if every door had been shut in his face, my goodness in these markets getting some hard cash in the account would do wonders, now if that cash equalled or exceeded the current market value of the entire company then it would be very happy days for shareholders.
One suspects very few market entities are aware of the situation.
Nearly there.
https://twitter.com/RRR_RedRock/status/1540327721661857793?s=20&t=vsrw3J3tJ_p0plRkPdlzig
DYOR
It was DRC Mining Week. Glencore was one of the main sponsors. Glencore's name and logo was on all the delegates passes and lanyards. It is what happens at these gigs.
DYOR
I must admit that RRR's legal representative wearing a Glencore lanyard made me laugh : - )
Trust AB to instruct a legal rep who has a conflict of interest!
It seems Red Rock have a very competent and well connected person in Barry Kazadi representing them in the Congo, this interview going back to 2019 shows him promoting mining business in country, both Glencore and Red Rock are mentioned.
Maybe Bell will pull something off after all.
https://www.proactiveinvestors.co.uk/companies/news/904663
https://tinyurl.com/muda6te4
That $7.5mil ish is held at Gecamines. It was paid over some time ago. Gecamines wouldn't pay it over till the legal dispute between VUP and RRR was settled in the courts and ownership under DRC law established. That was established a little while back.
NB the $7.5mil being the 50.1% of the $15mil.
DYOR
5Oh
things generally take longer than people want or expect and in Africa it take a bit longer than that.
Not back in the UK yet.
DYOR
Darien, the bod who knows nothing and everything.......
More clues from Bell, he promotes Barry Kazadi as RRR's representative in the Congo, but the photo tells more, he is wearing a Glencore lanyard, it seems he was representing Glencore at the recent DRC Mining Week, that is interesting as Gecamines (who owe RRR $7.5m) are a subsidiary of Glencore.
https://twitter.com/ABell2019/status/1532636437727916032?s=20&t=SeZST7-AAJiVYJiowd1k2g
The latest ramblings from Bell, a tweet from last night, make of it what you will, assuming he is referring to collecting RRR money using the wording 'successfully'
Andrew_Bell2019
A trip to Kinshasa that has extended, though very successfully......
Helpful knows nothing, a paid ramper pure and simple
So where is Bell and what is the outcome of the supposed $12m cash collection from the Congo ? No-one believes Bell will succeed as per my post on Friday, I expect to see a fudge RNS (or no RNS) it will then go quiet on the matter in question.
I have noticed that Bell seems to be continually interested in the shareholder register, the 'support' from the major shareholders before the AGM was based on their view that Bell was the only person who could get the cash from the Congo, so what if he fails, does their unwavering support continue? I suspect so but why?
It seems one shareholder holds nearly 17% or 204m shares, there are two other TR1's holding around 3% each, according my research they all have averages IRO .75p possible a tad higher. Their combined monetary losses are just over £1m as things stand.
I sincerely hope I am wrong, there is not long to wait, I suspect Helpful already knows the answer.
Until the $ arrives in RRR's account it is uncertain RRR has publicly stated that they are also hoping to get a replacement property, it is uncertain that this will be achieved
Most attorney's I know are almost invariably serious particularly during working hours. My initial thought was the picture was being sent as a prelude to a victory and way to acknowledge their efforts. but the opposite is also possible -ie a way to deflect blame
I do not believe AB has much credibility given his long history of unfilled promises so IMO only news that the $ has arrived will possibly move the market. I say possibly because posters here have speculated that AB will simply waste the money anyway. That type of comment is an indication of how thick the negative sentiment is concerning AB
Like you I fear failure but hope for the best as I already own RRR shares
The plain fact is, earlier in the week, Bell said he was in the Congo to collect the money Red Rock are legally owed, remember they have already won the court battle for a sum of $4.5m, he said he thought it would be achievable during this visit and added that Gecamines (who owe RRR $7.5m) are ready to pay, in all a sum of $12m.
We are now presented with a photo of a very grim looking legal team ?
The market, which has known about this for weeks is clearly not impressed, they way AIM works concerning leaks every man and his dog would be buying RRR shares if Bell had succeeded in the process, either fully or partially.
I fear Bell will fail and a fudge RNS will follow next week, I really really hope I am wrong.
as it maybe court has ruled in AB faviour. AB seems like besides any abuse. His hand is strengthen. His mind is to do the best for share holders. We are at the start of resolution to this. A team is what is needed to get the best result then I also agree there is much to be gained otherwise why bother doing it.