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Should read DL not DG.
That article would have been useful yesterday to maintain momentum.
I think the "herd" were astonished how many were prepared to sell yesterday
A small clue there was a 666m share placing at 0.075p to undisclosed parties. Only they stood to gain and conjecture on my part but they did not think the news good enough to hold.
DYOR and IMO
Aim-listed Red Rock Resources has reported that closure is imminent with regard to its arbitration over a $10-million claim being pursued in the Democratic Republic of Congo (DRC) over its interest in the VUP copper/cobalt joint venture.
On January 24, the company reported that its wholly-owned subsidiary in the DRC had obtained an executory judgment for $2.5-million in 2022, being 50.1% of $5-million paid to a local partner by a buyer, and that the result of the arbitration hearings held in Kinshasa to obtain $7.5-million, being 50.1% of the $15-million still to be paid by the buyer, was pending.
A draft of the arbitration award was received by Red Rock and awaited finalisation and release. However, since the Presidential and Parliamentary elections in the DRC on December 31 have been concluded, with Felix Tshisekedi having won a second term in office, this process and the finalisation of payments could be expected to resume.
"We have had our local associate working on this very important arbitration and he was advised last week that the arbitration judgment was now due to be released. We have two other lines of communication that have served as a listening post and potentially a backup to ensure the matter is dealt with speedily.
“Both have now provided the same feedback on timing, and we have had it confirmed that recent delays have been due to the elections and post-election reshuffle,” Red Rock chairperson Andrew Bell said on February 5.
“After 18 months, we believe the other side, like us, will want to receive its portion of the sale consideration without further delay. Because of the materiality of our $7.5-million – indeed $10-million – claim, we shall issue a further update next week.
“Expediting the arbitration is at this point our highest priority. It has been a very long process, and not without incident, but we are hopefully approaching the finishing line," he said.
Go-ly to be fair Andrew said settlement was imminent two years ago.
Key difference with DG is far more active press coverage.
It really needs to happen this time ( before the share issue).
Let's hope our office manager ( who is key) has an abundance of good news for long suffering SHs
Great article…it’s happening!
HSO
Talking of apologies.
Some poor souls are now 50% down encouraged by the likes of our new intellectual collosas Legitt.
Should he apologise or am I so well regarded by markets that I alone can determine where the SP ends up on a billion share day ?
Some of the posters on here are priceless.
Two facts only are relevant [1] reach RNS [2] Article 4 at the AGM.
Nothing libellous or underhand just facts.
Still we look forward to an update from our office manager of yesterday's developments at the meeting. Hopefully it will lift the SP.
Yeah looks like a very good move is on the cards here.
Good post NEWS'' keep up the good work'' and don't let anyone on here put you off your task, in sheading some light on RRR huge undervalued asset, and the significant of DL PR machine onboard, we know 1b + shares was not traded for nothing yesterday time will tell, when rerate will begin again in earnest..
ATB
Share price still, as overnight: 0.9p /0.10p spread.
On the other RRR forum, an investor has ECHOED my prognosis. I cite parts of the post @8:17 #17109 out of 17110:
"to catch them offside on their trades, this must be a priority [read the details].
There needs to be MONITISATION of projects OR PROJECT level funding. Fair to MANY PROJECTS in the stable....You should be able to quite easily TURN sentiment around here, IF the DRC CASH comes, then happy days for all."
============A SHORTENED VERSION BUT IT IS AN APPEAL TO MR LENIGAS, CONSULTANT TO RRR @appointment dated 2.2.24.=======Writing in a different style to mine and more details but CONFIRMS that a turnround is attainable. It is clear that a new consultant like Mr Lenigas has more reach in his business contacts and evidenced so as I cited specific cases here. TIER 1 projects are hard to find ----the statistical data shows so. But should a Tier 1 be found and other assets cleared up, then this co may be as legendary as GGP where Bell and PJ took it on its knees to over £1bn mkt cap at one point. Thank you to Mr Bell and Mr Lenigas who have listened to our appeal. Not an easy task but one can hope and ask.
I am sure that if I was paid to post nonsense I would say I was not paid.
H50.
1. For the sixth time. I am not paid by anyone despite your fixation. That would be market abuse.
2. Mr Bell came on to say I was in trouble if I was Gary Carp. I told him I was not. He also said I was wrong about the security we have at companies House with Prime Resources Limited. He said he would correct it as it had been satisfied. I thanked him and still await the revised paperwork.
Each to his own on here but two facts
- it was a Reach RNS on DRC
- Article 4 will mean 1.5 bn shares approved 16th Feb.
HSo Panda is right. I will not be bullied off the board by your obsession with paid posters.
I work for no one.
Let's see what happens next
DYOR IMO
Adding more under 0.1p before big news.
Given the same content from recall, the resident said he's an engineer and a fund manager. We met at the Solg other forum and it was rather interesting, let's put it that way. Last night, I searched for broker notes and found one, though not current. It was of help in that valuation was given for EACH project. So, if correct, then the skill of any qualified chartered accountant , in the spirit of BALANCE would discuss that. I cited the accounts and the ASSET values and we should start on that , Accountancy 101. As for being filtered , that is fine by me ---I note the time of the post @3.55am.
Goodness, I was fast asleep. Then, the next post was at 6.20am. I recall many sites said not to make low content posts ie one lines, that I am not guilty of. Brevity is of style . No, at 3.55am this morning, I had no data to post - I looked at the equity note but had not done any further work on it. As any chartered accountant may be aware of , ASSET STRIPPING ie to sell, farm out etc must now be one of the discussion to know whether how value will be achieved going forward. Wed, 7.2.24. If I am wrong, kindly correct that we met during Solg days.
Your posts will only serve to encourage him to post more here.
He has called it right so far so it would be foolish to ignore what he has to say
Balance.?
Spouts constant negative drivel, as a non shareholder. Why would they do that all day long.? And you believe it’s to bring balance.? Okay.🤣🤣🤣
Then she should be posting on every share to save investors from investing money.
He brings balance to the discussion and it's good for potential investors to hear both sides of the debate before making an investment decision. He is clearly a knowledgeable person with professional accountancy experience. Given the share price history there must be quite a few people that are grateful for his contributions to the debate to help them avoid painful losses.
Bring it on.
To be fair this company is far better than a lot of them. Ultimately this will rise and he will dissappear.
It's not his fault. He is allowed to spout rubbish by other invested shareholders. Rebuke him and his rubbish. There are so many other worse off companies out there. Why doesn't he post there?
Banburyboy clocks in at 7.20am to start his work.
This individual really does need to be exposed by Bell, who is he, what is his purpose, the cheerleader whose aim is total determination to destroy this company and with it shareholder value.
The fellow is so arrogant that even when Mr Bell warns him a legal route may be pursued via this site he continues to bash unabated, very strange, do you have deep pockets Banbury ? What broker do you work for ?
If that Congo cash comes will you apologise to all the shareholders who you have deterred buying with your venomous posts, not on your nelly !
To be fair vagabond if you have the pain of a loss you only have yourself to blame.
Research is important and the sheer number of cautious and negative posters here is a red flag.
Hope it works out for you.
Someone may be not happy if the sp rises for any reason. Some dwell in the pain of others.
Sun may fail to rise but .............
My thoughts are the same Dukey
Management now face the dilemma of how to keep the DRC plate spinning. Re updates on all the important meetings (including yesterdays) .
It does spookily feel like five Chinese buyers, task force and those pictures all over again.
Time will tell