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Absolutely clear now. Thank you Helpful. It is even more interesting now. Yes, I will follow up on the John & Boardman and 1620 Capital & Jason Brewer lead.
Reckon he's reported back yet or are we using are two other "unnamed" verification sources.
Hopefully news today and no need for Article 4 and 1.5bn shares.
it was as i posted the other day. vup never owned 49.9% of the jv. the jv was between rrr, vup and 1620 capital. 1620 was jason brewer and john boardman: they brought the original deal to rrr.
1620 became bring minerals and it subsequently went into administration (i can't be ****d explaining why but look up john boardman). strictly speaking vup should think themselves very lucky if they end of up with 49.9% of the $15mil.
nb there are different glencore entities.
dyor
Thanks Spec .
It's great when the likes of Gordon who know nothing about this company start haranguing me for no reason other then a healthy degree of skepticism.
Gordon did you know Bell had the proceeds of a far bigger than $7.5m Greenland sale in Eschew in a Cypriot bank only for it to go walkabouts.
Anything short of independently verified cash take with a pinch of salt.
Mr Bell has had to.live with this for many year and said he would personally go to DRC to check receipt of cash. He's not booked any flights yet.
Gordon - look listen and learn :)
As always Spec and honest post from a genuine investor.
Speccy, where did you get this from "Meanwhile RRR has to keep spending money with at least at 250k deposit on an Oil & gas deal within 30 days"?
And Stephen Paul Lundy otherwise known as Helpful has not filed his accounts yet. 40 days late Stephen ( tardy for an investment advisor)
On the other forum, some details about the RRR DRC Litigation: [Ref: 7.2.24 , 14:12 , Post 17134:
"VUP SA, a DRC co owned 49.9% of MUSONI AREA 1 which SOLD the tenement back to GECAMINES for $20m WITHOUT the knowledge of Red Rock. Gecamines FLIPPED it to KOMOTO Copper co [allegedly for $460m] owned 85% by Glencore & 15% by Gecarmines directly or indirectly.
KOMOTO paid VUP $5m. Later, VUP took Komoto to Court for $15m . I understand Komoto had reason to not pay VUP $15m but have not disclosed further to that. AT THIS STAGE or a bit , RRR BECAME AWARE. ---KAMOTO said that they would NOW HOLD the $15m UNTIL D I R E C T E D by decision and the agreement from OUTCOME OF ARBITRATION IN KINSHASA." [I am not this poster and the posting is PRE-FIXED WITH GLENCORE has NO LIABILITY TO RED ROCK.]
My Comment: Data is stated that RRR had a JV with VUP from what I understand of 1/2 & 1/2 [correct if wrong]. If one were to take the reasoning [without seeing the COURT CLAIM LEGAL PAPERS], then someone must have to pay for the lost asset @Musoni Area 1 which RRR had 1/2 of. Yes, in general , it depends on the strength of the agreement between VUP & RRR and the LEGALITY OF THE LICENCE @Musoni Area 1. The poster vs Helpful elucidates $460m vs $400m.
LEGAL OPINION: That is for legal opinion as to who is now responsible for the loss etc in general or in particular.
HOW STRONG IT THE LEGAL OWNERSHIP title etc, ah that no one knows unless they see the papers. In my search on the matter, I note that in the DRC ------------CLIFFORD CHANCE-------IS THE ONE WHO SPECIALISE IN THIS. Lol---LENIGAS's REM MEXICO has already ENGAGED CLIFFORD CHANCE, THE "LEADING INTERNATIONAL LEGAL FIRM" [One of the few from the Magic Circle of international legal firms.]. I dont want to comment on the legals as it is all summising etc without seeing the strength of the title ownership. Suffice to say, HOW CAN $15M BE RELEASED UPON COURT ARBITRATION if RRR did not own 50% in the 1st place -logic and reason. I apologise to those who do not find my development synopsis of interest given that in my real life, I cant give the short answers without some logic to it.
DYOR. NIA. [RRR RNS IS AWAITED FOR THE ABOVE -WE SHOULD KNOW MORE but until then, its all incomplete info etc]. Who is responsible in law for the loss , ah that depends on the legal papers and ownership/agreement/s etc.
Interesting!
https://x.com/mineralsmindset/status/1755080399024435311?s=20
DYOR
He is not an accountant, he might be a book keeper. He doesn't understand how intra group loans are accounted for in annual returns and accounts.
DYOR
Banbury Unfortunately I mostly agree. I see 750m shares at 9.5. and DRC cash to RRR (in about 2 months) IF everyone still wants to do it. Meanwhile RRR has to keep spending money with at least at 250k deposit on an Oil & gas deal within 30 days
Watch listen and learn Gordon.
Never been wrong yet.
1.5bn shares issued and no DRC for a few months ( minimum) . Enjoy your ramping
Gordon bonnet, That must be our investment guru BB buying big behind the scenes while scaremongering others here day and night.
17m trade appeared! People taking positions here now! Leaky
Our investment guru is very intelligent chartered accountant having no work but here to save money and shameless ready to give free advice for anyone investing in RRR. His only motive is to save you from making money and to make sure that sp doesn't rise .
Arb payment lands or leaks which is likely this week and it will bag for starters. Even a bag is a fraction of the arb payment due.
Anyone buying shares should read the prospectus of buying where you can loose money and only invest after consulting investment guru Banburyboy available 24 hrs a day on this bb especially if you are a kid. Our investment guru only advises on RRR and no other share.
Where is the saviour gone? In the rabbit hole? 2 things 1. Dreams RNS and 2. Article 4 of agm
Muhammad its called irony :)
Not changed my view one jot.
Don’t forget those 5m hits!
Plenty buying going on, Mm must take it up soon.
Looks to have been filled just..
Got ya! Ticked up now, is it logics to think that the windfall of $10 mil will be tidied up this week with news next? That’s how Mondays RNS reads…
From the RRR re-tweet of the 5.2.24 RNS@Reach it is rather clear and therefore Mining Weekly titled their article yesterday THIS WEEK from recall. However, the said RNS stated update next week.
From the Under-Sec's tweet, it would appear that Gecamine's is active. I clicked open the Under-Sec's tweet and someone tweet: an ISCID no, LoL. It implies, fine but what about our ISCID?
After the Under Sec's tweet, there was a short vid but I can post it - you can follow my route at Twitter to see.
Its not about RRR but more about mining & majors. Easier for majors than for junior exploration co's to get Tier 1 prospects. So, RRR may have fallen into terrific fortune given MUSONI is marked clearly and a major asset.
I think that RRR will need to consult further after they have heard whatever from the DRC - I am not privy. I checked time of potential RNS's and its usually 7am but can be 12 noonish or 3:45pm approx. So, have to wait.
BB you've changed your tune all of the sudden?
Gordon its not the office manager. He's key to the next news. Should hear from him soon.