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What has happened today? Do you know? I hope new investors haven't been reeled in.
RRR have sold a million shares.
RRR sold a million shares last week.
Today RRR received just 2.5p per share. That is less than the 2.75p placing price of only 2 months ago.
Today, only 2 months after the 2.75p placing, the company has had to agree a partial release of lock in of 7,789,091 shares owned by the major investors.
Today no price was given for the placing of those shares. RRR receipt of 2.5p would be a good indicator.
Today no name of who the shares were placed with was given. No TR-1 will be issued for those shares. I'll let you into a little secret; the new investors will want to remain anonymous. There is a pool of 7,789,091 shares, bought cheaply, that small shareholders will have to compete with. If you bought today at 3.5p they bought today at 2.5p or less. A 40% advantage.
Today large shareholders have sold. The company was pressurised to allow them to sell. Why? Two months ago everything was rosy. Best buddies. Haven't they heard of peaky blinders and Southport? The sure thing. Kerching, kerching ,kerching. Haven't they heard of the world class Mambare asset? Two months ago RGM had a 50% share. Is that still true?
Something isn't right. Today should be a warning.
Utter tripe. Again spouting complete nonsense.
Looks like the boiler room squad have been wheeled in to try and get the plethora of 2.75p placing and other shares shifted onto mugpunters. Same old same old.
get in quick
this will fly
last chance at these levels
God it gets so lame
Over and over this cycle runs with RRR and RGM and all that happens is more and more shares are issued and the SP gets more and more trashed whilst those who got discounted shares are laughing all the way to the bank. I'd consider myself an iidiot to pick up any shares here in excess of 2.75p. I feel for those falling for the pathetic ramping and paying higher prices. They will learn the hard way.
Notable that Red Rock Resources has sold another chunk of their RGM holding. Clearly getting out whilst they can imho.
Follow the ramping drivel at your peril imho. More confetti will come I guarantee it. DYOR.
It wasn't RRR that sold at 2.5p: that was the YA/RF trade done to bring new long term holders.
YA/RF have done the trade because they think overall it will improve their position.
DYOR
Fact:
On 3rd Feb Red Rock Resources (RRR) reported having reduced their RGM holding from 6.50% to 4.91%
Yesterday they reported reducing it further from 4.91% to 3.77%
https://www.lse.co.uk/rns/RRR/holdings-in-company-hwh1pbz1tbah5z1.html
https://www.lse.co.uk/rns/RRR/holdings-in-company-b9kg8yfe719qhcu.html
Hence all the sudden ramping imo. Anyone who falls for the "jam tomorrow" ramping here deserves to lose their money simple as. RGM recently issued a mass amount of confetti shares all at the discounted price of 2.75p such that of the resulting total share issue, 80% comprised of those 2.75p shares. What you have now is a lot of people wanting to make a nice quick flip profit on those shares at the expense of (imo) naïve mugpunters who will be left holding the baby.
Those holders imo have struggled to get their shares shifted at a decent profit and are getting jittery and probably fear they may run into another dilution here before they can shift them. I would consider myself a total mug to buy those shares off them at a premium to 2.75p. Remember 80% of the share issue has been issued at 2.75p. There has been no substantial news and Red Rock has now reduced its RGM holding from 6.50% to 3.77% and will likely put out another holding RNS once it goes below 3% and totally sells out here. DYOR
DYOR
Sorry for the mistake. That makes the whole farce worse. It appears acceptable for the large shareholders to sell 7,789,091 shares at 2.5p ( confirmed). Shows what value they place on the future of RGM. The buyers of the 2.5p shares want an advantage over small shareholders who could buy RGM shares at 2.75p last week. No identity of the buyers given. No one will realise when they sell into the market. The people who bought at 2.5p yesterday can now sell their placing shares they bought only among ago at 2.75p. And they will. A new base, 2.5p, has been set for the value of these shares. It also shows that the hard and fast lock in is as loose as the proverbial tongue when it suits Mr Parsons. When there are lock in clauses it indicates people want to sell. The RRR lock in is laughable. The warning signs are there to see. Something isn't right
Tend to agree regarding the lock-ins. It sets a precedence, a bad one and means that the BOD here can not be trusted. If you're going to dilute shareholders, issue gazillions of shares and do it under the auspice of saying "it's ok, lot's of those shares are locked in for 3 months" and then a few weeks later completely go back on that and release the lock early, then you simply demonstrate to the markets that your word is absolutely worthless and that punters should be very very very cautious about taking anything the company states seriously.
Red Rock had a 6.50% holding here. They have first dumped their holding down to 3.77% and then the remainder are being locked. It's utterly laughable imo.
RGM holders failed to remove ALL of the original BOD here. They got rid of Bell but left Scott Kaintz in place. Big mistake imo. It's obvious to me there are still crony ties between RRR and RGM. Personally I think that situation is untenable if RGM really want to be perceived as having a clean fresh start. At present RGM is still the old RGM and just has a new face on the board. A rather pointless exercise. This situation can not continue imo if the company wants to be taken seriously.
Nothing has changed, RGM is still a mass confetti issuing company selling hopes and dreams with "jam tomorrow" rhetoric. The shares for me are worthless bits of confetti which is why they had to be issued at 2.75p. More dilution will come as night follows day.
DYOR
Yawn.
The trade was yesterday. You don't know if they will issue a TR1 or not but there was no requirement to issue one yesterday.
You need to calm down.
Spot On, and why do you think the consolidation happened? expect placing after placing after placing.
All the crooks ramping it to multi bag are shameless. If they had good plans for in the near term the lock ins would 1) be respected, 2) be longer than 3 months.
AVOID