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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 ......
Look at the share price on Fri, 2 Feb 2024 AFTER the RRR RNS re: Lenigas as Strategic Consultant.
As I said, Lenigas is NOT RTO'ing into RRR - so only a modest price uplift of some 3.33% but on Google Finance less at 2%+ at share price -------------O.077p.----
So, NO ONE managed to make on the news given there is SPREAD.
As for placing, I do NOT know - I have not yet checked the cash position yet.
At 0.045p is a large discount as suggested below by the poster . Let's see but I think not at such a huge discount for a bigger name.
FREE SHARES appears to be the pattern from the PREM Lenigas consultancy. I cant recall McArthur but from the Cadence a/c , I think it was free shares.
UNLESS THE RED RNS BUTTON HITS, one does not know. From REM, NO PLACING until solid plans told to the market and the discount years ago was not that large. SURPRISE, SURPRISE IF THE DRC MONEY HITS VIA RNS LoL.
Anyway, I am one for very low market caps with ASSETS of less than £3.4m region @0.077p.
Let 's see. THE MACHINE IS ROLLING TONIGHT on Twitter ---the news is spreading ie not via pi's. Please DONT blame anyone ---only one can press any button on any stock be it buy, sell etc.
Sat, 3 Feb 2024. I have just booked my place like others and await to see the plans.
Zumore IMO its all about making money-- it does make for some strange bedfellows
Placing is a certainty this week.Salaries and consultancy fees ,travel fees and per diems,all will need to paid.
Everything else is just hot air.
Forward selling on Friday with the DL hype,those placees did rather well.
I'm going for 1 bn at 0.045 a £450k raise,that'll keep this gravy train going for another three months.
Answer: The market DOES NOT RE-RATE any co that does not have a potential Tier 1.
The jury is out about the Gatwick Gusher given everyone is aware of the regulatory framework for oil and gas projects in South England ---protestors and judicial challenges to drill etc.
So, lets leave the Gatwick Gusher out of this. Lenigas is not here as a RTO from what I have read of the RRR RNS.
It is undeniable that RRR's assets needs to be RE-STRUCTURED. I am not in the mining field via an Investment Bank that specialises in resources. Say, Hannam would be able to sell if any project is of interest to majors [or a JV].
GATWICK GUSHER:
Two competent reports were done and they did state large enough potential resources ie world class firms.
In fact, an American specialist came over and explained that in the USA, even under buildings can one obtain oil via side tracks. THIS IS COMMON IN THE USA. Will it ever come to fruition? I dont know as it is NOT ALLOWED in the U.K.
Everyone is therefore freezing unless one is prepared to pay thousands for energy bills and there is NO ENERGY
SECURITY in the U.K. Green energy is expensive. THAT MAY NOT BE IN MY TIME ---never say never IF energy is ever needed again via traditional sources. IGas had Goldman given a price target of £18 from recall - IGas is more to the North of U.K.
WHAT YOU SAY:
Wait for Lenigas to talk - have you seen any BIG RISES? Maybe, yes, it may pay for a nice dinner & a holiday to Blackpool but with the spread, I cannot see that traders can make that much. UKOG ---they found out shorters were caught and hence why the price shot up given they had to cover. These will not be small shorters.
So, I base my answer a/c to facts. I have seen NO CO'S that Lenigas has run in the U.K. Lengas has never RTO or
become a CEO/Chairman of any AIM co after he quit running co's. That is a fact one can check.
I am just here to provide some balance and I am not posting much more after this.
Why? I am giving some back ground. COMMODITY STOCKS OF JUNIORS HAVE BEEN HIT and this is fact and until commodity prices are high again in the various sectors, the sector may remain in the doldrums. However, uranium has done quite well but I have no interest in uranium. Oil and gas is a sector I am not keen on usually but I wait to see what is the asset will be take on. I am not privy as no hints in detail has been given.
Whatever this forum may post or not post, it will not matter as these days, Twitter travels faster.
Many will watch to see ---Lenigas may just clean up the co. The wild card will be the Musouni assets but that is going to be something that may or may not happen unless international arbitration takes place but I am not privy to the legal documents of the agreement etc.
But suffice to say, Lenigas like UNDER £3M mkt cap co's. SO, I AM WAITING TO SEE. I cannot say as no one knows.
Lenigas is not dependent on us as he has his own circle ---advising family offices
So, if I held shares here, I would wait for big Dave to start ramping and sell out , remember he laid the foudations for UKOG with his Gatwick gusher - enough said. Barge pole job and any reputable company would likely think the same.GLA and DYOR.
David Lenigas's tweet on day of his appointment as "Strategic Consultant" to RRR:
"At 0.08p a share and knowing Andrew Bell as I do, HE ASKED IF I COULD HELP HIM & HIS TEAM @ Red Rock Resources
on London AIM to BUILD THE CO. I LOVE A CHALLENGE LIKE THIS. MARKET CAP IS JUST S U B £3M. News just out." -2.2.24
https://twitter.com/DavidLenigas/status/1753371188246544479 2.2.24 [Day of Lenigas's appointment at RRR as Strategic Consultant.]
Note: Check the RNS of Prem and Macarthur Minerals ---I dont ever recall, Mr Lenigas charged a "fortune" -- he was just given free shares which were not a lot for the consultancy. If there was no results = NO profit on the shares. I checked McArthur Minerals and the Chairman of Cadence sits on the board of McArthur which is still current.
So, ta ta for now. Come what may, there is going to be a lot of INTEREST in RRR due to this new appointment.
LET THE RESULTS PROVE THE DAY -- .
ANDREW BELL , LINKEDIN:
I have just signed in to Linkedin and gone to Andrew Bell's Linkedin ----I see "DAVID LENIGAS " AS ANDREW BELL'S CONNECTION. I also see another CEO of a 3 digit mining explorer as his connection with a Tier 1 deposit.
Kindly sign in. A/c to the tweet by Lenigas on 2/2/24, he tweeted BELL ASKED FOR HIS HELP.
No doubt, one communication method can be via Linkedin chat messenger or direct communication as norm.
JUST TO UPDATE to 2.2.24. Hope that helps. Others can sign in and check.
No matter how Horse hill turned out you can see back in the day David Lenigas absolutely loathed Andrew Bell.
https://twitter.com/DavidLenigas/status/704226090022281216
https://twitter.com/DavidLenigas/status/704227822219501568
Maybe he's come in to sink useless Andrew. Maybe charge Red Rock a fortune for his consultancy and see if he can offload a rubbish asset on Bell.