Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Https://x.com/MakoGoldLtd/status/1753182558261764197?s=20
DYOR
That comment contradicts what RRR has been doing over the past 12 months
Is it this David Lenigas?
About David Lenigas
David Lenigas is a mining engineer with extensive senior corporate experience across stock exchanges in the UK, Australia, Canada, and South Africa. He has been Chairman of various petroleum-focused exploration and development companies with operations in Spain, the UK, Trinidad, and the USA. His corporate and operational experience will greatly assist the Company as it moves towards its goal of becoming an oil producer.
David Lenigas said: βIβm pleased to have joined the Board of Pennpetro, my only petroleum sector-related board position. The Company has a powerful story to tell as it moves towards drilling its first development wells in Gonzales County in Texas. The momentum behind the business should grow rapidly. I believe my experience and skills are a great fit for Pennpetro and I am excited to play a role in the future growth of the Company.β
Presently, Mr. Lenigas is Executive Chairman of Riversgold Ltd and Rincon Resources Ltd, both listed on the Australian Stock Exchange and an executive director of Odessa Minerals Ltd, also listed on the ASX. In the previous five years, Mr. Lenigas has been on the boards of the following publicly listed companies: Macarthur Minerals Ltd, Doriemus Plc, Elixxer Ltd, AfriAg Global Plc, Artemis Resources Ltd, Auroch Minerals Ltd, Southern Hemisphere Mining Ltd, Clancy Exploration Ltd, Hampton Bay Capital Inc, Future Farm Technologies, Generation Alpha Inc, and NQ Minerals Plc (in liquidation 2022), Anglo African Agriculture Plc.
Should be called Alka Seltza the number of companies he has dissolved
His appointed is at the perfect time for us as we begin to structure a new and very exciting future for Red Rock.
We now want to bring some of our key assets further along the production path and we need people of David's experience and drive around us who understand what is needed and how to get us there.
David Lenigas is someone we have had a good experience working with and who can help the Company achieve what it is capable of. We welcome his arrival to the Company."
this huge news is still yet to be filtered through to the Market IMO, and no doubt we will see an interview on the subject shortly
ATB
Noting the link below is for 6% plus spot CIF to China which is what RRR will be benchmarked on when negotiating a sale delivered to destination port - the stuff at the port has only been confirmed as 3% plus... but I'll log a disclaimer that this means it could well be be 6% plus.
Either way, the price has not moved favourably since November 200mt RNS.
https://www.fastmarkets.com/insights/market-volatility-drives-changes-to-qps-in-spodumene-contracts-2024-preview/
It's easy this posting links game isn't it :)
Anyone a fan of the supreme's lyrics:
β¦ Give me DRC why don't you, babe
Get out my life why don't you, babe
'Cause you don't really love me
You just keep me hangin' on
DYOR
Its Dead. It was the one chance for Andrew to put two fingers up to his doubters and snatch victory from the jaws of defeat.
No way he would share that victory lap with anyone. Let alone this guy.
DRC dead, Lithium a disaster , Elephant the less said.
Lenigrass last throw of the dice. In some ways he could succeed .11p is 50% gain on his watch.
But for Bell and long term shareholders it's a disaster.
His feet should be held to the fire over imminent two years ago, we were offered half, all ready but for election, matter of days. Just like Lithium DRC will just slip away from updates.
Potential new RRR investors. The Red Rock chairman/ceo Andrew Bell does sometimes post on this thread.
Usually to threaten a poster.
https://www.lse.co.uk/profiles/andrewrbell/
Helpful "reviewing opportunities in the oil and gas sector" tells you how woeful Andrew Bell has been running this company. I say that because Red Rock have numerous rubbish projects, they must have about 30 different licenses all over the world. All costing money.
Yet they are looking for something new. π₯΄
Andrew Bell RNS comments:
"We have known David for some years now and worked well with him in the past when we jointly developed onshore oil projects in Southern England"
"David Lenigas is someone we have had a good experience working with"
......
That's nice how you remember it Andrew. π
The reality is when Lenigas discovered Andrew Bell was going to rebuy into Horse hill David Lenigas said:
"I'm going to suggest to Sanderson that he refuses Andrew Bell coming back in to Horse Hill. His uneducated comments are disgraceful"
πππ
Bell is the most readable CEO in the book.
He has nothing IMO. This is the last throw of the dice.
DRC is dead, Lithium is all facing saving placing imminent. IMO.
The hope is a new front man can do better. I'm sure he can but assets with potential and no realistic prospect of funding without huge dilution. Bells broken the company.
Extract from Wikipedia on DL below:
Corporate Governance Related Criticisms
He has been accused of frequently "promoting a company, pushing up the (price of its) shares, then raising cash by placing new shares β and (thus) diluting the holdings of the early investors",[15] described as "a familiar tale with most companies he promotes".[16] His defence has been that "You canβt build a business on bottle tops.".[17] Furthermore, he has argued that it's not accurate to claim that "all his ventures have turned sour".[18] Although finance commentators have noted that most of the "hundreds" of companies he has been involved in, and "stock promoted" for, have failed to generate any successful shareholder returns.[19]
In 2009 he was one of a group of claimants, claiming that he had been libelled when an investment publication in South Africa had described the group of executives of one of Lenigas' ventures as "cynically and greedily indulged in self-enrichment at the expense of, and contrary to the interests of, shareholders."[20] The High Court of Justice of the United Kingdom rejected Lenigas', and the other claimants' libel claim, and found in favour of the publisher.[21]
https://en.wikipedia.org/wiki/David_Lenigas
Take from it what you will. For me it further reaffirms why I won't be holding past the AGM date.
DYOR
I can see the difference between my expectations and the share price movement - or rather the lack of any appreciable movement. I was backing David Lenigas, who is generally a breath of fresh air, but this is still Red Rock Resources, with the same old Andrew Bell (DL's 'two-faced liar') at the helm. Punters are buying - or not buying - RRR rather than buying into Mr Lenigas.
He is also once said of Andrew Bell:
"Two faced liar he is"
"reviewing opportunities in the oil and gas sector."
I wonder what that could be?
Look like more is on it's way ? with the abundance of 1 code flying in ATM, Hmmmmmm interesting''
. I see the value of the assets in their portfolio as being worth considerably more that RRR is currently worth, and I will relish the opportunity of helping Andrew deliver growing shareholder value."
welcome aboard DAVID, there will never be a better candidate than yourself to get our SP moving we look forward to your turnaround plan Imminently..
and as i said yesterday AB like a Friday RNS, LOL!! and although it's not DRC money yet'' this one is also huge
GLA
ATB
Very strange appointment. I'm sure in the near future we will find out it is an expensive one.
One reason for strange is because David Lenigas used to think Andrew Bell was a two faced liar.
Must be desperate to appoint Lenigas. What a joke this company has become.....
..
It is quite likely that he will take on a proper management position soon, maybe CEO, and he will probably buy a big chunk of stock too. Personally I like him.
Quite. Get some new prospects in. DL currently has management positions in companies that are involved in bitcoin mining, gold exploration in Australia, lithium, oil production in Texas, a farm-in to Horse Hill, as well as others. All are showing good prospects.
Well that was just the RNS we've all been waiting for wasn't it - Another mouth to feed... covered by a lack of substance in the RNS as per usual. Who proof reads these things?
Is he salaried, working for free as an old mate, awarded shares in future, paid when he achieves a milestone target etc...
Why have RRR specifically brought him in, what due diligence was carried out?
What was the scope, exam question that DL can deliver on?
Why don't they already have the expertise?
Why wasn't the skills or knowledge gap covered in the strategy / Finals RNS?
What are RRR expecting from him?
How long is his appointment - permanent / fixed?
I would also like to know what RRR considers 'a new phase of growth' to mean. Does it mean growth in the amount of shares in issue, growth in the employee numbers, growth in the amount of debt the company will incur.
Be specific RRR, say what growth is...
Let's not forget only 3 months ago the clear message was judge us on our exports followed by and RNS stating 1st export complete. Public information suggests RRR still owns that 1st export and has no buyer and has bought the cargo from an unknown 3rd party rather than mined it through one of their own licences because they state the costs are similar / more favourable...how on earth can that be?
Still no DRC payment which was days away over a week ago.
Helpful, What deal making should speed up?
AGM 2 weeks from today...DYOR
The deal-making should speed up now.