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As I said.
the statement of a true narcissist
Darien let's just agree I know and understand a lot more than you.
Watch this space.
When I sold RRR in 2011,it was all about Greenland. An option on a rich mineral seam.I note today that yet another miner has discovered a huge deposit. 3 years after that AB let the option go. RRR would now be skyrocketing.
Think I'm down 99% on both RRR....and Corcel (RGM).......and Andrew Bell blamed the capital markets....last time I spoke with him. These are a waste of time...always have been....so I feel they always will be! Happy for any of you...for me to be wrong.... (p.s. I have a portfolio of 30 shares....mostly aim....they all have good/great prospects/stories. If past performance is anything to go by....I expect some will rocket...some will remain static....and some will fail) unfortunately I don't know which yet LOL! GLA here!
helpful, here is what Bell said in his half year report about Australia.:
In Australia, the six months to December 2021 saw most of our licence applications granted, so that in our 50.1% owned joint venture we now hold 1,501 sq km of prospective acreage around the old gold mining centre of Ballarat. Only one significant licence now awaits grant, but it is a very important one. A diamond drill programme in Victoria, Australia began in December 2021 and with significant delays at Australian laboratories, results have only been sporadically released to date.
not a word about valuation or the word IPO at all, having previously talked it up at the year end statement 4 months ago. Didnt even say if such licences came thru the IPO would be going ahead. nothing , nada,zero about the IPO. the guy drops the ball again. its a pattern of behaviour..don't you get it yet, these are all stories to perpetuate his existence at the expense of shareholders, ite been 13 years since there was any revenue generated from internal sources.
AB has clearly said that they were waiting on another license grant at Daylesford that would make a material difference to the valuation at IPO. He has said that the grant of the license was near.
Everything times out. They have been through all the contentious stages with the license application. They are just waiting on Earth Resources actually issuing the license and then it is off t'races.
https://www.rrrplc.com/wp-content/uploads/2020/09/Licence_Report_EL007330-Daylesford_Rev0.pdf
You can keep an eye on the license status at Geo Vic.
Separately, there is the issue of the WA license application that needs sorting. It really doesn't fit with RRAL/NBGC.
As I said everything times out. Things have taken longer that we would like mainly because of COVID.
DYOR
Careful sir, you'll get branded a "basher" by some total melon who was hoping that RRR starts to move like VAST. Honestly can't make it up! VAST is even further buried in the pile of filth that is AIM with wild price swings off the back of spoof RNSs.
We are in an inflationary bear market - the IPOs (if they even happen) will disappoint in valuation terms. I have no doubt there will be a hugely dilutive placing. Do people really think we're going to get material amounts of cash from the DRC legal proceedings in the near term? If so, please send me whatever you're smoking/drinking. Thanks.
this is the best... this encapsulates Bell to a tee...
https://www.youtube.com/watch?v=4dwscpaK7Y0
share price at the time due to his hyperbole was 7.75p and since then RRR has had a 10 for 1 conslidation. so to compare today's share price of 0.4p against 77.5p 10 years ago/.. why does anyone believe anything he says
9th August 2021
IPO announcement
https://www.youtube.com/watch?v=9N-8j4aJEg4
then 4 months later in year end statement of affairs. ZERO mention of IPO.... are you seeing a pattern of behaviour here
29th december 2021 rns
By September 2020 we had an independent geological report prepared, but due to the extremely rigorous lockdowns, and home working by officials, in Victoria, the process of license grant was not as rapid as we hoped, and as gold drifted off the July 2020 high of $2115 per ounce to just under $1800, the pandemic excitement surrounding gold stocks dissipated. Our first grants came in February 2021, totalling 215 square kilometres, and only in the last few days has an updated geological report been completed and the total acreage of granted licenses gone above 1,000 sq km to 1,501 sq km.
An excellent local team of geologists has been assembled by Dave Holden, an experienced geologist and manager living on the license, and previously known to us, and the detailed exploration work they have been doing has enabled us already to identify promising drill-ready targets.
A 2,000 metre drilling campaign began on 13 December 2021 on the first of three initial targets, and progress continues towards a listing for New Ballarat Gold Corporation Plc, the new holding company for our joint venture assets in Australia, in the New Year.
https://www.youtube.com/watch?v=0STsoT-ut44
so at year end 2013 report they made and update on Greenland that the sales process was ongoing... in year end report 2014 . there was absolutely no report of Greenland, nothing, nada, zero... not been to say they hadn't sold it or have sold it and for how much.... it just disappeared... how come
https://www.youtube.com/watch?v=4dok4erOvig
3 years ago Bell telling us RRR were the cheapest company on aim and waiting to do drilling to get a JORC.... so what has happened since. oh yes ZERO
https://www.youtube.com/watch?v=sct7zohi7i0
how much money has this deal made... that's right ZERO
burning cash at £150k permonth.. £180k in the bank big dilution ahoy.... reading the last half year report, have you ever seen such an effort put into a whole load of cr4p about ships and tailwinds and ****** . more rubbish form Bell end. 15 years of spinning stories to keep picking up his pathetic salary
A few days ago, 2mex the poster did a TRANSCRIPT of Mr Bell's interview with Proactive on 29.4.22 [post Interim results RNS, 29.4.22] on the other forum.
I recall that Mr Bell stated: "Musonoi was FLIPPED for US$250m."
From earlier recall, I think it involved a businessman. So, from the article I posted below, it is possible that Congo will also want this settled given they are settling outstanding matters?
2mex does post on this forum so he can confirm if correct.
News, Sat 14 May 2022. However, one will need to hear from Mr Bell relating to Congo SPECIFICS in relation to RRR's Musonoi, DRC, Congo JV [50.1%]
"Congo backs billionaire Gertler's bid to end US sanctions."-Mining .com, 30 Apr 2022.
https://www.mining.com/web/congo-backs-billionaire-gertlers-bid-to-end-us-sanctions/
"Gertler will return assets potentially worth BILLIONS to $ to the state IN EXCHANGE for RE-IMBURSEMENT OF EXPENSES.
This agreement comes at considerable cost of about $2bn to Mr Gertler and his co's but also ensures high potential ASSETS are NOT LEFT IN DEVELOPMENT LIMBO in
I N T E R N A T I O N A L ARBITRATION which is IN NO ONES INTEREST, Ventor's spokeman said."
My Comment:
The article also mentioned Glencore and ENRC etc.
Does appear CONGO WANTS TO SETTLE all outstanding MINING DISPUTES etc
instead of going to INTERNATIONAL ARBITRATION = development limbo.
So, hope to hear from Mr Bell relating to RRR's Congo outstanding matter and the further outside litigation outside CONGO. Outside litigation is also NOT condusive to parties?
Sat, 14 May 2022.
It seems they have decided to wait for a specific licence award in Australia before attempting to list, this licence is apparently one of the hottest in the prospective portfolio, it is suggested it will enhance the value of the IPO.
In respect of Elephant Oil Bell did explain a shareholder needed to be removed from the list to proceed the listing, apparently this has been done.
In general market conditions have been woeful so no surprises the IPO's have not occurred, these conditions will not last forever and both are value driving events for Red Rock.
In respect of news-flow, this year has been pretty barren but Bell has said that news in current markets does little for the share price so there is some logic to remain quiet until markets pick up.
The only caveat to the above being a cash settlement for the Congo, if Bell can get money (they are pursuing circa £11m) then that would most definitely be exceptionally well received by the market more-so as RRR is valued at sub £5m
must say I am disappointed that has not been an update on progress or lack of progress not only on Congo but also Elephant Oil and Australia
"KINSHASA IS ALREADY AFRICA'S BIGGEST CITY-COULD COBALT MAKE IT THE RICHEST."-Mining Technology, 15.2.22
https://miningtechnology.com/analysis/kinshasa-africa-democractic-republic-congo-cobalt/
"expands 6%." [Economy]
"POISED TO BENEFIT FROM THE MASSIVE COPPER COBALT B O O M underway in the country."
---------------RRR 's MUSONOI Copper - Cobalt, DRC comes to more attention now-------------
US[$5m + US $15m back from Congo, DRC [50.1% to RRR ]
[Litigation outside Congo for Musonoi vs International co for US$250m].
Musonoi is in the same Kolwezi district as Kamoa-KaKula -Ivanhoe-Zinjin JV.
-------------RRR also has other copper licence in DRC, one of which had been recently
drilled.--------------Waiting on next news from RRR.
Mon, 9 May 2022.
agreed the time frame could be shorter however since there are so many unknowns I would think put a longer time frame on it. Personally I need to allow sufficient time for my investment to realize its potential. I would be very happy if things happen faster
Three elements:
1. The $5mi damages. That has been awarded and is now executable. It can be pursued against VUP or the bank.
2. The $15mil is at Gecamines. The legal position as has been proved is that 50.1% belongs to RRR. AB is going out to dot the i's and cross the t's. Bottom line is Gecamines will pay once RRR and VUP have agree their respective positions.
3. The $250mil+ claim. That might take a while and nothing will happen on it till 1 & 2 are sorted. The steps are clear. Article IV of the Treaty of Rome applies.
The three actions are separate and distinct.
DYOR
I believe the aim will be to come to some amicable settlement concerning Congo damages, we know there is $15m sitting there from the third party but what is not clear is if the initial $5m they paid has been siphoned away by the JV partner and if the JV has the ability to pay the $2m costs/damages awarded by the court, it is not clear what implications would be for the directors of the JV partner (could they receive custodial sentences for example) if they do not pay.
Let's face it if Red Rock can come away with $5m cash from this affair + some licences of equal quality (for example ) it would be a very good result but there is the definite possibility they could come away with a sum far larger.
In my view Bell would look very very silly if he gets nothing having twice said he expects to get a certain amount of cash, so I do expect to see a positive outcome in one form or another.
In respect of the legal claim of $200m+ against the major mining company it is anyone's guess as to the outcome but a nice situation for shareholders to wait for.
I am convinced if this was a more 'popular' company on AIM the share price would be multiples higher but therein lies the opportunity IMO.
"..but in this case we have achieved rapid results in a series of favourable judgments since year end.."
Might not take as long as you think
38x of cash IF no punitive damages and IF there is proven discount on the back door deal NB IMO this is min 2-3 year litigation
On the other RRR forum, 2 mex on 6 May 2022 [Fri #12314]:
"US$250m or roughly 3200m giaves an sp of 16.7p [38x the current share price] based on cash.
Lower outcome is the current litigation. If we take 50.1% o the $15m [approx ££7.5m] and add the already awarded $4.5m it provides $12m or £9.7m would give a share price [sp] based on CASH.
So, low projection doubles the share price , high outcome 38x."
=========CLARITY OF RRR OF A.BELL'S INTERVIEW WITH PROACTIVE ON 29 APR 2022 AFTER THE INTERIM RNS. ===NO ONE HAS DISAGREED ON THE OTHER RRR FORUM.===
NO ONE HAS TALKED OF THE PAST AS EVERYONE =====HAS GRASPED THE CURRENT RRR
SITUATION.====
My Comment:
It does not take too long to fly from London to Congo. Mr Bell will return with cash for US5m already awarded + US$15m OR as he said to Katie of Proactive , "EQUAL LICENCE/split properties." So, best case and worst case. Worst case is NOTHING.
Best Case: All cash. Mid-cash: Some cash and licence equal /split as mentioned.
==========SO, AWAITING RESOLUTON WITH PARA-STATE =======
Type of Risk: Execution Risk relating to US$15m [50.1% to RRR].
Type of Risk: Litigation Risk relating to US$250m claim potentially on an asset of US$125 billion [Consultant Geo's In-Situ Value in the Ground based of said drill holes, reports, historical data . Ref: Current RRR website on Musonoi, DRC [50.1% JV] -link given before so scroll thru my post if interested or go to RRR website Musonoi.]
News, Sun, 6 May 2022.