Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
It's time for The Sheriff of AIM to join Red Rock as an Executive Director of the company he loves. Warren Buffett once the richest person in the world, before he gave away so much cash, of Berkshire Hathaway only took criticism from multi-billionaire Charlie Munger ( he died aged 99 recently) and it would therefore be great for Red Rock Resources PLC to welcome The Sheriff on to the Board.
*That should be Sicomines has now been dealt with.
Well according to all the trolls I live and breathe inside information and have AB jumping around on the end of puppet strings but the reality is as below.
It is in the RNSs, all you have to do is read the RNSs and listen to the interviews. I am not going to go through it ad nauseum.
The funds of $15mil are at Gecamines. $5mil has already been paid to VUP. VUP entered into a contract with Gecamines to sell JV property to Gecamines for $20mil.
The $15mil wasn't forthcoming and so VUP sued Gecamines and Glencore jointly for the $15mil not paid. Which is how RRR found out and intervened in the court case in Lumbumbashi.
RRR has had two awards against VUP; the first for 51% of the $5mil paid by Gecamines and then a damages award.
We are currently awaiting on the Arbitration Award from the Presidential Arbitration Court: Gecamines will pay the $15mil in accordance with that award once it has been issued.The award was all lined up to be issued and paid before the election, the DRC bods decided not to push it through before the election. RRR and Sicomines (a separate arbitration) were both delayed. Sicomines has not been dealt with and we should be next.
Payments under the Arbitration Award can only go to two parties: RRR and VUP. AB has repeatedly stated that RRR will not countenance any agreement outside the arbitration process. VUP cannot get its $7.5mil without RRR getting its $7.5mil.
DYOR
Gecamines is a commodities company. I am unclear where you got your information from, is it in an RNS that i missed?
The money was owed by a 3rd party - so how did it end up and Gecamines and how do you know?
How do you know that Helpful?
Fear not everyone.
"RRR is in a good place" - Helpful about a week ago.
It ain't done till its done - fills us all with excitement and expectation.
The money is not coming a company. It is held by Gecamines a DRC Govt Para-Statal.
DYOR
Good post Oldnbald !
Looking at the link provided, the chances of RRR getting any money from DRC is either very slim or none !
Well in my opinion of course !
Https://worldjusticeproject.org/rule-of-law-index/country/2022/Congo%2C%20Dem.%20Rep./
Being awarded money in court and actually receiving it are 2 very very different things.
So even if the award goes ahead, ... IF, this is DRC after all. They debtor can just fold the company, appeal etc etc
My personal prediction is this money will never materialise.
Talk into I think with DRC SP will double. I am on record as saying it won't hold 0.2p though . Too much dilution.
Problem is if Bell gets his 1.5m shares it might not double from 0.075p.
Not sure Elephant has any marketable value full stop given the repeated failed placing.
But I could be wrong.
What do you think about the loss from holding Lithium in situ from Nov. If it was RRR Lithium it would be a paper loss only . But they say we brought it from others ? So a cash loss unless RRR hedged.
Just a shame we brought 200 tonnes.
No DRC payment RNS at 07:00 this morning.
I'm mildly disappointed but not surprised... but as RRR once stated in an RNS:
The game is worth the candle, but it is sometimes a long game. When a gap appears in the clouds, the sun can suddenly shine, and then the opportunities are realised.
Without consolidation and without DRC/ELEP, will this share price ever significantly rise again?
I'm talking 2x plus from todays levels.
Thanks Zumore
I think the point is RRR coal is a subsidiary we use for loans. That's evidenced as a fact in your research.
RRR coal accounts take advantage of the rules on small company non disclosure allowed by the reporting body so say the absolute minimum.
All legal and accurate but not entirely transparent.
I used the word "hidden" to describe this which Spec [ who do fair is having a dig at Helpful as well as me] got really excited about. Nothing inaccurate or illegal. But it did bring out Mr Bell to say the security had been satisfied. Not related but good to know and hopefully CH records will be updated soon.
Https://twitter.com/MakoGoldLtd/status/1752463229434138825?t=4f0lU5Mnj0mINB5EjhP2kA&s=19
DYOR
Banbury in my last post i sloppily put all the things together that i thought should have been promptly RNS'd because they to me looked price sensitive events.
From the Red Rock 2020 Final results RNS here is the RRR coal extracts and dates. I cannot see Red Rock RNS's around the below dates that make those announcements and to me that looks price sensitive news because if Red Rock had RNS'd the below news then i have no doubt it would have affected the RRR share price.
From 2020 final results RNS
"On 11 April 2019, the Company's 100% owned subsidiary, RRR Coal Ltd, agreed a loan facility of up to US$1.0 million with Riverfort Global Opportunities PCC Ltd and YA II PN Ltd. The terms of the loan call for US$0.400 million to be transferred to the borrower, with additional tranches available to the Company at the lenders' absolute discretion. The notes are secured by 5,500,000 shares in Jupiter Mines Ltd, which were transferred from the Company to the borrowers as well as by a corporate guarantee executed by Red Rock Resources Plc. The Notes carry an interest rate of 10% and come with a 7.5% implementation fee and are repayable over a period ending in April 2020.
On 21 January 2020, the Company's 100% owned subsidiary, RRR Coal Ltd, agreed a final drawdown from the loan facility of up to US$1.0 million with Riverfort Global Opportunities PCC Ltd and YA II PN Ltd of a gross amount of US$0.2 million. The notes remained secured by 5,500,000 shares of Jupiter Mines Ltd, as well as by a corporate guarantee executed by Red Rock Resources Plc. The notes carry an interest rate of 10% and this drawdown carried an implementation fee of US$7,000. All outstanding amounts from all previous drawdowns including this drawdown were refinanced and now became repayable in equal instalments from April 2020 to January 2021.
After the year-end, on 6 November 2020, the Company's 100% owned subsidiary, RRR Coal Ltd, refinanced its existing loan facility with Riverfort Global Opportunities PCC Ltd and YA II PN Ltd, increasing the total amount available for draw-down to US$2.0 million, and drawing down an initial gross amount of US$1.0 million with additional tranches available at the lenders' absolute discretion. The notes are secured on 6,302,000 shares in Jupiter Mines Ltd as well as 20,000,000 shares in Power Metal Resources Plc, which were transferred from the Company to an escrow account for the duration of the loan, as well as by a corporate guarantee executed by Red Rock Resources Plc. The notes carry an interest rate of 10% and come with a 7.5% implementation fee and are repayable over a six-month period starting in June 2021. "
Https://twitter.com/StockheadAU/status/1752110773776617689?t=tfubGTTytz1QevJY4sfgDQ&s=19
DYOR
I wouldn’t be going there if weren’t picking up 2 awards trust me ! Could do with out the 4 hour journey home Sunday that’s for sure 🙈
How is that a DRC Money update? Latest update is there is no DRC money. I'll wager there will never be any as promised or hyped.
Hmmm.
Correct: come into the City Centre and that is okay. I have been to that hotel loads of times before when going racing. It is okay but I wouldn't go out of my way to go there. Anyway, I walk everywhere.
xx
So I’m travelling 200 miles and you won’t even go 18 - Tut tut !
I’ll even buy 🍺 as imagine times are tough at moment being a red rock holder 😉
New presentation out. I missed this if it came out earlier.
https://somagoldcorp.com/wp-content/uploads/2024/01/Final_Soma-Gold-Corporate-Presentation-January-22-2024_FINAL.pdf
It says El Limon 8,000 oz of gold in 2024, 12,000 oz in 2025 and 15,000 oz in 2026.
Based on $900 costs and gold price $2,000 that gives royalties of $264k in 2025, $396k in 2025 and $495 in 2026. Obvs approximate.
https://x.com/SomaGoldCorp/status/1752359937311637546?s=20
Fingers crossed.
DYOR
Spec - accurate [yes] . Except the subsidiary note was not updated from 2022 to 2023 by Littlejohns. I had written to them. We will never know on 47%.
They have a rather opaque ( but legal as I know what a stickler you are) structure which "hides" from obvious view some liabilities in Subsidiaries.
The main one is RRR coal - Zumores post of 11.26 explains some of the arrangements done through RRR Coal. As I have repeatedly said even before Mr Bell arrived to post all legal.
Hopefully the use of opaque and hides suits you rather exacting criteria of what's fair game to ask ?
Hope it's not to cold in Canada ?
Lithium price down 30% since we got 200 tonnes. Do you think we have hedged or are we sat on a huge capital loss. Is that a fair observation ? What's your views ?
Ah well done. It is still not in Manchester. 18.2 miles away. I am not walking that far. Other end of Deansgate is far enough.
Thats the one, my horse got two awards.