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A different topic.
I recall a couple of weeks ago Maidit said he bought into HE1 at 0.20p. I know he doesn't appreciate some posts on this thread but i personally hope he's made good HE1 profits that make up for his losses here. 🙂
If he still holds in HE1. I'd bank those profits because you'd suspect an huge discounted placing would soon be coming.
Further to the sneering about Mako Gold. You know the company that has a project called Napie which abuts our licence application.... Up another 33% all off the back of news on Napie.... and the Napie Shear Zone. You know the zone that intrudes into our acreage?
Any thoughts? Intelligent, informed or otherwise?
xx
In the words of Lewis Carroll!!
Our CEO was on here two weeks ago telling us RRR had no security with Prime resources Limited it had been satisfied. this new information is still not reflected on CH website and i'm interested in if there is a new charge replacing it.
RRR coal which is the subsiduary RRR has used to solicit loans (Documented by Zumore and in the accounts). There correspondence address was moved to a very expensive (according to house price websites) private address on 8th December 2023. Seems a really unusual move to make. Anyone know whose address it is ?
https://find-and-update.company-information.service.gov.uk/company/11857467/filing-history
From article:
"The controversial entrepreneur, who has been criticised for exaggerating the success of his companies to jack up share prices"
https://www.thisismoney.co.uk/money/markets/article-3034031/Australian-tycoon-claiming-struck-oil-Sussex-pruning-directorships-focus-making-fortune.html
...
I can imagine even some recent Red Rock investors will be pretty disgusted with the useless Red Rock chairman Andrew Bell. Afterall they've endured numerous fundraises that has decimated their Red Rock investment; Bell has relentlessly fundraised to pay himself and pay for all the vast array of Red Rock projects around the world. All for what? It seems all for nothing!
Reading between the lines it seems those fundraises were needless fundraises because in all likelihood most of those projects will get dumped. So Red Rock shareholders got diluted for nothing by the incompetent Red Rock chairman.
Instead now the desperate Red Rock chairman has hired the controversial "face of pump" to the Red Rock brand.
Will it work? Maybe temporary. But what will do know is billions of shares will get issued over these next six months and at the end of the year Red Rock Resources will be an even bigger wreck than it is now.
I can understand why many observers with fascination follow Red Rock Resources because IT IS the modern version of a freakshow.
BB - You have summarised it perfectly.
I perceive that there are only two significant short term catalysts that can send the share price in opposite directions and it is simply which will come first during February:
DRC payment or dilution via shares after the AGM, I believe the latter will come at some point regardless of DRC payment arriving or not.
The rest in the short term is simply nonsense and noise. It's clear that no amount of indirect news is moving the share price whether it be consultants, spin doctors, neighbours with good news, small changes in gold price, lithium price, 50 year charts, even a sale at a loss on the 200mts of spodumene.
Those either in or out have 10 trading days to decide which way to lock in a gamble...and make no mistake it is a gamble for the punter but the house always wins.
Another horse analogy springs to mind... flogging a dead horse. I would love to be proved very wrong.
Unfortunately Lenigas kills everything he gets into after filling his pockets with whatever he can. Has done it to many companies and not one do gooder can say otherwise or they would be proved a liar
His and Lenigas appearance does not seemed to have sparked much interest.
I suspect all are awaiting the AGM and news on DRC instead.
Specinvestor, rampers love Lenigas, although he's been quiet you can bet Stephen Lundy has wet himself many times this weekend with excitement.
Let's not forget Andrew Bell is STILL IN CHARGE at Red Rock. Not Lenigas!
Andrew Bell is a mass share diluter. David Lenigas is a mass share diluter. What happens when two mass diluters combine?
Strangely the appointment of Lenigas seems to have changed sentiment.
Unfortunately there is not much he can do about :
- progressing DRC
- seeing through the mess that is 200 tonnes
- incoming 1.5 bn of shares.
New investors might make some money but as I've said many times Zero chance of making 0.2p ever again ( I doubt it will every make 0.15p)
As horse analogies are topical.
The horse has bolted despite numerous opportunities to bolt the stable door for head trainer Mr Bell. He's now realised after 18 years he's not very good and sought help. IMO and DYOR.
Lenigas when we began 2023 at 1p would be a good appointment. A year later when we are 0.07p is not good enough. Why does AB never admit failure and fall on his sword ?
Zumore thanks for the article
noted this comment "He has more than 2,700 followers on his Twitter account and has thousands of small investors who defend him on investor bulletin boards online.
Ref: "Azure Minerals says ANDOVER one of the best lithium exploration plays GLOBALLY." -Yahoo Finance, 22 Aug 2023.
[Azure Minerals Andover discovery is located in the Pilbara , Western Australia].
Albermarle invested in Azure of ASX after chip results [assays] and later made a bid of which Gina joined in.
MEXICO GOVT
Treasury Dept valued Sonora lithium at US$600bn.
That was when REM Mexico was in a good place if the govt themselves put out an official valuation.
DAVID LENIGAS:
I am sure more HNW people will now be ringing him given he advises family firms. Nice that we got Mr Lengias as Consultant to RED ROCK RESOURCES ON 2 FEB 2024 AND THIS MORNING, IN AUSTRALIA, ARTEMIS of ASX, Australia has put out their results.
ANDREW BELL
Well done. Just in time - what timing.
2 FEB 2024
RRR RNS: APPOINTMENT OF LENIGAS AS STRATEGY CONSULTANT.
1 FEB 2024
Mexico: REM Mexico has already approached the Mexican govt relating to the expropriation of its Sonora lithium project via Clifford Chance, leading international counsel [known as the Magic Circle]. Ganfeng has said they may want to initiate international arbitration but so far no further update. Appears that the Lower House in Mexico has filed a related case and if favourable could overturn the 2023 Reform. Also, the expropriation may cause Mexico to face arbitration cases and the legality of the investment climate. Ref: "Between a rock and a hard place, the state of legislation in Mexico." -BNAmericas, 1 Feb 2024. At the Cadence site [new name for REM plc, UK], one poster has more articles on this from Mexico and is similar to mine.
4 FEB 2024
Artemis Resources listed on ASX has just released an ANN [called RNS in the UK] and this pertains to lithium results on Artemis 's 100% ground. Lenigas was the former Chairman. Well, from the ASX ARV Ann: "....large SPODUMENE crystals and may PARALLEL the AZURE MINERALS ANDOVER DISCOVERY."
For those not following the story, Gina Rinehart, Australia's richest woman & Alb has put in a $1.7bn bid for Azure.
LOL
The Lenigas Midas touch has struck - City would know as he has just tweeted it ie Artemis which has just issued the Ann in Australia. Nice. Congratulations to Mr Lenigas who is now the Strategic Consultant to RED ROCK RESOURCES.
Https://twitter.com/DavidLenigas/status/1754265843339239787?t=P8mFTYJdJ2dXMA3UFL8mQA&s=19
For the fan club.
DYOR
and thanks to the person who posted it on *************.
Specinvestor, i don't know if you can see this David Lenigas article in Canada? I think it will help you get a better idea of who he is.
https://www.thisismoney.co.uk/money/markets/article-3042471/CITY-FOCUS-David-Lenigas-money-mouth-is.html
Analogy not euphemism.
Cdgull your comment "Dettori on a donkey isn't going to win a bumper race on a wet Thursday evening in Folkestone."
is oddly specific is this UK slang ?
IMO the 'punters' are often fooled that is implied in the word 'punters'
Maidit. Your euphemism is flawed. Horse trainers do the opposite. They put their lame horses to pasture and with no discernible record of success, not even out for breeding. No matter how pretty the saddle and colours, the punters aren't going to be fooled. Dettori on a donkey isn't going to win a bumper race on a wet Thursday evening in Folkestone.
IMO, RRR is like betting on a outsider in any horse race you care to think of.. and if you lose there will be no hate on the trainer, no thousand of post on the internet of your disgust of the racing industry LOL!! you just move to another outsider with good prospect and a silly MC like this one until you get it right, it's just simple maths / deduction / calculation that cut the %%% in our favour, say like with DL on board, it could cut our %% to 70% in our favour of getting it right this time who knows?
we will see what he brings to the table in a few days time no doubt.. and of course how much shares he will be given if he can turn around the SP by creating value at some point, and hopefully not before, as 1 thing we don't want with a SP well below it's NAV is anymore dilution For 2024...
ATB
Welcome aboard NEWS'' it's nice to have a broader view here, than the narrow one we have had to put up with for the past year until there is no point in reading them, yes you guest it'' it's always the same bashing the BOD and AB/ doubt and supposition, and the constant hate on other posters that have just bought in @ these silly levels for a punt. and can wait for what's to come, good or bad...
BTW I have notice you are also in HE1 like myself, that stock has got to be the biggest call by Ramper Neil 777 @ 0.20p for 2024, and could go on to break many records IMO.. when the expected wire line result comes out, GL with that one..
ATB
Contd:
Couldnt finish as no more width. IF THE ASSET IS NOT SOMETHING THAT FULFILS MY CRITERIA, I CAN LEAVE.
I have just been to Twitter and I see the VIEWS on the APPOINTMENT OF LENIGAS by Sharetalk has DOUBLED overnight.
So, lots of folks interested to know what happens next.
Perhaps, I am the only brave one daring to venture to post on this forum. LoL.
News, Sun, 4 Feb 2024.
Banburyboy:
Thanks. No, it is not possible for any poster to be a bot.
Because a post was put to me indirectly , it has to be answered. Yes, in that sense, a rather more chatty style to your
accounting preciseness. My style is mainly to research more into any resource asset and see if there is a potential Tier 1 and I provide reference links.
I note from your style, it does match to what is an accountant's style. So, what you posted is helpful because I dont know what are the outstanding obligations. Irrespective, assets and obligations have to be either sold, JV'ed and obligations reorganised and restructured. Quite a headache for anyone taking over unless one knows everything in depth. By in depth, I mean Africa and risk at this precise moment.
So, say, a pure Chartered Accountant were to take over this co ie re-organise & re-structure but this still does not leave the company in a position where it has a viable project. These days, few are interested in a NON-TIER 1 POTENTIAL.
So, yes, we can all talk and discuss but doing is harder than at first sight --this is general and common to all co's.
A lot of bloggers over the years have done critiques on many of these AIM co's and it is easy to do - even a bot can do it by repeating the same old acorns. I was interested to learn yesterday that the minute the blogger left the board as a director, the shares rose. No more bloggers doing critique these days. Why? They have now been put in charge as directors and the co's have failed. One blogger in particular from a European country took a junior miner over ie CEO - all the drilling campaigns have FAILED.
One poster has done the same and he has started a tiny co - not sure it is on AIM or a lesser exchange. I note the co is investing and that is also going nowhere - it is neither here nor there.
LENIGAS
Irrespective of what is being posted on this forum, I note that Share-Talk put up the RRR RNS up about the appointment of Lenigas as Strategic Consultant. Note the word Strategic, rather than just Consultant. Yes, there is a difference in that a strategic review is needed re: assets and obligations etc rather than just light touch Consultancy. I note that Lenigas has re-tweeted the Share-Talk tweet so that it shows this is his latest venture and by extension his reputation will rest on this post the Sonora asset.
From the views, I can see more than 1,000 have looked and therefore, I am not alone.
MY POSITION HERE:
I do not know what ASSET will be put into RRR. I could wait for the placing IF there is one immediately. As they say, you put your money, you take the risk. I dont have to REMAIN if I dont like the NEW ASSET. So, I have merely put in a
modest and small amount to wait for the outcome. Many are on the side lines judging from the views.
If new, there is ABSOLUTELY NO NEED TO BUY IN. Why? There are already people out there who may be interested otherwise why so many views. If the asset is not to my cr
Leni might try and get AB to invest in PPP.....disaster attracts disaster 😪
Flightman he's out of authority for more issues but has asked for 1.5bn at AGM on Friday 16th Feb. Which he will no doubt get.
News welcome to the Board. You have a rather disconnected style of posting where points of importance get lost in a myriad of words. I had thought you were some AI bot. Please don't take offence :)
Headline numbers but
1. A high percentage of the asset base (80% plus ) is Kenya gold. Despite multiple threats to develop over 15 and gold cycles nothing has happened. The poster Helpful is Stephen Paul Lundy - he and his mates own a share of our subsidiaries and CLNs he was also an advisor to Mr Topham our main shareholder. The fact Helpful has pivoted to Burkino Faso and Cote de Ivory gold means IMO nothing to see in Kenya and the asset base.
2. Debt - circa £1.5m CLNs, £1m to Kansai £1m. other, also an unusual arrangement in RRR Coal with potential £1.5m of debt held through a subsidiary.
3. Cash burn 200k a month nearly half finance charges of sorts due to poor financing deals arranged by Mr Bell.
4. A mecurial security over the assets of the company currently with Prime Resources Ltd Gib. But an angry Mr Bell appeared on this Board two weeks ago to say its satisfied. No update on CH yet.
This company and long suffering shareholders definitely need DRC or an asset sale or asset backed loan. What they do not need is more dilution.
Interesting to see what bang for the bucks we get on the consultancy fee from DL
RRR Annual Report: 2023 ]:
"CONSOLIDATION STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2023: Pg 27/73:
"ASSETS: Non-current assets:
===INVESTMENTS in associates & JV/s Note 12, £1,030,000.
===Exploration ASSETS Note 13, £13,358,000.
===MINERAL TENEMENTS , Note 13 £698,000 etc."
I havent gone thru the rest ie pour over all the Interims etc.
Yes, from what Lenigas said about assets vs mkt cap of RRR at £3.5m, it certainly appears to need an accounting restructuring and asset clean up to consolidate assets etc. DYOR. NIA.
That's all. News, 3 Feb 2024 --Nothing more to discuss anyway. Please dont be ......