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news, they talk through their bottoms.
the reason that rrr got musonoi is down to andrew bell and no one else. https://www.proactiveinvestors.co.uk/companies/news/209771/red-rock-resources-proceeding-to-completion-for-cobalt-and-copper-assets-joint-venture-in-the-democratic-republic-of-congo-209771.html
originally, drc was a tailings deal. we were promised x grade and y volume in the tailings and when rrr then did auger drilling it came up short. we were offered different tailings but they then went elsewhere, contrary to our agreement. 1620 capital (now bring minerals) and vup were for giving up. ab secured musonoi and the other two licences as compensation. at the time there was a moratorium on new licence grants but because this was compensation the grant was considered outside the moratorium. except for ab's persistence and negotiating skills, rrr would never have secured the three licences that were subsequently sold to glencore for $430mil.
he has secured good licences in victoria, zimbabwe, cdi and in burkina faso.
operations is not his skill set. getting good deals and good licences is his skill set. he also good at working through the legal messes that crop up in these jurisdictions.
their assumption is that super star ceo will walk through the door and make the world a happy place. the reality is that all junior mining company ceos get ****ged off eventually. look at ggp both ab and his sidekick pj got ****ged off over that, as did borelli.
dyor
BanburyBOY
As for your post directed to me, it is NOT UP TO YOU, to say who CAN OR CANT POST on this forum 101.
Look up the "CHAT RULES" on your right before one can post.
I recall in 1 of your post, you complained already somewhere or the other outside this forum?
Well, what did the authorities say?
Why did you say, Banburyboy that IF, "HELPFUL" IS "GAGGED" , THE NOISE WILL GO AWAY?
I read the guide on shorting ie the playbook and it states that companies now employ firms to look at posting 101.
So, why dont you contact Mr Bell, Chairman of RRR directly and tell him that you are NOT A SHAREHOLDER but you want Helpful not to post on this site? Mr Black and the other big holders may want Helpful to check that dampers dont get a free run and a friendly party can inform them given they have $$$ in RRR as MAJOR HOLDERS? That is the trend now if you did not know. AH, HELPFUL MUST NOT POST AND WHY NOT? IT IS A FREE COUNTRY? ANYONE CAN DISAGREE IF THEY CAN PROVIDE EVIDENCE to anything posted 101. Yes, No? Fri, 19.4.24
Banburyboy
You have said so many things that one cannot think all are correct? Why? You tell spec you are ACA/KPMG on Harbour.
Then, you return to this forum and say you worked for the BIG 4 OR 5? Now, you go back to KPMG.
IF, it is true, then as Helpful said that Lesson 1 states the order of liquidation ie liens, loans etc before shareholders. So, why post that on to this forum as it is 101. You post as if it is something new given everyone knows on these stock forums that the shareholders are the last in the line 101. WHAT WORRIED ME IS YOUR INVESTMENT IN REVOLUTION BARS. How can a Chartered Accountant said by you to be working at KPMG @16:16, Fri, 19.4.24 NOT KNOW THAT IN A RECESSIONARY TYPE OF ECONOMY OR NOT IN BOOM TIME, DISCRETIONARY SPENDING ON BARS WILL BE A NO ON?
HOW, THAT IS ECONS 101? Anyhow, you advising on the CO-OPERATIVE BEING TAKEN OVER BY COVENTARY BUILDING SOCIETY is quite hmmmm? That is a specialist job in any BIG 4 ACCOUNTING FIRM. Just an ACA will not do - one distant relative gets flown out from Oz to London to do M & A and is very well qualified, not just ACA. Let's hear what Helpful has to say as he is in REAL LIFE who he says he is. A 2nd opinion. ? Yes, No.
News it's not about running RRR.
It's about calling out the granny mugger Helpful for what he is an insider who gains why all of us including you lose.
I have said many times gag Helpful and the noise will go away.
----------------------Talkinfo and et al------------------
Over the years, on every forum, one hears a lot of how the CEO should do this or that. This is also TRUE of bloggers. Today, almost all the bloggers have had their hand in running co's including two becoming a CEO and 1 a Director. One has already folded ie does not exist in current form etc. The other is drilling in Zimbabwe for copper and again , the criticism is now not applied to self? Why? DRILLING COSTS MONEY and the best that can be obtain is Zimbabwe for copper? It is not exactly copper country as far as I know. The other is a director in a goldie and yet has not produced any JORC etc and certainly NOT a Tier 1 for sure.
NEXT YEAR, I understand Chairman Bell comes up for VOTING. As Help said, ONLY SHAREHOLDERS GET TO VOTE and that is true of EVERY CO [listed]. So, do buy £1 worth if anyone wants to vote although £1 worth may not qualify for entry? Maybe £5 or more is sufficient as I have not looking up how many shares it will buy.
IF you guys like, I can inform the NOMAD that a few of the POSTERS ON THIS FORUM say this and that and perhaps they should become the CEO OF RRR if that is what the objective is, of posting continually. THEN, WE CAN PROVE ONCE AND FOR ALL, IF ANY WILL DO BETTER GIVEN NO ONE KNOWS THEM for M & A, govts in Africa or knowing how to negotiate through the licencing systems in Africa or Australia. In theory, it cannot be allowed but who knows if THE RESIDENT/S CAN GARNER THE VOTE OF TOP HOLDERS OF RRR. THEN, ONE WILL KNOW IF IT IS CORRECT X OR Y IS A CHARTERED ACCOUNTANT OR NOT? All have to produce evidence to become a director, never mind a CEO etc. YES, I AM AFRAID THAT TALK IS easy but the proving is harder, is it not? Yes. No. Better still, one shareholder who used to post on Solg has got himself to run a Aquis stock and I see it is going NO WHERE. See, what I mean. But again, there could be exceptions and do let us know and maybe Help can speak to Mr Black and the other two big holders. ??Fri, 19.4.24. The above have tried to prove what they said and everyone knows the results as it is on open file and public info now.
Yes News KPMG my mob advising the Coventry.
Sort of RTO with smaller company taking over bigger. You followed my accidental post on HBR they are doing similer with Wintershal a German Co
Hope springs eternal perhaps RRR will swoop for Glencore ?
Talkinfo
IF the hat doesnt fit, dont wear it is the general rule. No name/s mentioned but it is a general perception that IF those posting have NO shares in any co, the continual posting appears to have some sort of motivation? Motivation as in , in general, trying to save others? They all CAN READ RRR RNS and its FREE on this site. Tell one everything.
SO, CONTRADICTION is that IF not interested, then wait for the RNS to jump in as you say. As for your other Victorian stock , well why not concentrate there or has that been sold. Why? You said you will sell your stocks there and bring £500 over here to buy IF, X, Y RNS comes out. WHO DOESNT KNOW THAT 101? But you must be reading this forum with great interest and isnt it a contradiction that WITH ALL THE WARNINGS or akin to that, you can still BUY on an RNS.? Doesnt make sense is it? I think you know what I mean as it is 101. If X bank is no good, then 1 RNS wont make any difference to the negative any poster perceives will it? I use bank because it is concentrated on financials , as in , assets etc. Today, Co-operation is being taken over by Coventry Building Society. How unusual given the Co-op has been going on for so long and Coventry is relatively newer and besides it nearly went under with $500m debt from what I read but today, it turned it round into a profit of some £132m from recall of what I read. Would one invest say if it was bad? To do so would be a sheet outsider. ? Yes, No? DYOR .NIA.
The first gold wash plant is expected to arrive by air within a few days and will start operation.
Red Rock Chairman Andrew Bell comments: "The first team on site will be preparing a report giving further detail that we will hope to be able to share with the market as early as next week, whereupon Mr Samuel and myself will relocate to Burkina Faso to be on site for the whole period of transition into stable gold production and to prepare for larger scale mechanised mining.
This reflects the importance to us, and the potential scale, of this first project at the Bilbale gold mining camp.
H50 post tweet that AB is on his way to camp as we speak'' so the hold up must be tying up the licence in Kenya ? and although we would have all like to see that few days timeline adhere to'' if you are not invested then you shouldn't have to worry about genuine investors that don't mind waiting another week or so, and i think we all can see that they don't mind waiting a little bit longer looking at the lack of sells recently, and the big lumps been bought and kept at the same time...
and with 35min to close I don't expect an RNS today but you never know ?
GOOD WEEKEND
News - I don't actually care what the price is at the time of any future buy in so I'm not here to try and drop the price.
I expect the stock price will likely rise on the company delivering on any one of three threads - gold, lithium or DRC payment. I'm interested in riding a short wave on any of them but preferably the DRC which as outlined by the company numerous times should be close.
I will continue to highlight why I would not punt on this company beforehand though just as you continue to spout why it is so good. It's called balance.
I understand and sympathise that your RRR investment is currently in the red (we've all been there or are still there) and maybe this is blinkering your view - who knows.
p.s where is that report AB stated we should have HOPED to have had from team on the ground in Faso in the last REACH RNS by 10/04/24...another missed target?
Better to under-promise and over-deliver rather than the other way around I find.
It is 3:37pm with nearly 1 hr to closing time for the stock market on Fri, 19.4.24/
RRR SPREAD the SAME as 0.055 & 0.06p as yesterday. NO AMOUNT OF POSTING NEGS has changed the MM's minds or mkt? RRR has NOT SOLD at 0.05p, the recent funding price.
So, what is the fuss?
An ex-president of the USA gave a release to CNBC about "naked shorting" on his media co recently IPO'ed. Chairman Bell, of RRR said so on Twitter re: RRR. It was discussed at Toronto PDAC Mining Conference and the regulator has taken note of what the CEO's have said about naked shorting affecting their stocks = loss of $40m. They are going to sue but I dont know the latest update on this. IF share price goes lower via the above, then the funding goes lower as a consequence is it not 101? Just askin. Fri, 19.4.24 DYOR.NIA. Despite the negative posting, one is waiting to buy in LoL? How? If it is x or y, why buy in? Doesnt make sense does it? Can go any cheaper since the last funding and is evidenced so today, yah? Yes, No?
Robins. No investor is interested in purchasing here until Bell curbs his lust for discounted placings. This is down 66% in the last year alone because of this. 24 incidents of mass dilution since 2022. Tic, toc, 52 days until the next placing is my guess. Let's see if it happens and how far out this prediction is.
So close we prepared two sets of final accounts in late Dec. One recognising income one not. ( ABs words in the accounts).
Then it was the elections, then the swearing in of Ministers. Not sure what the latest is but I'm not sure we are any closer than we were two years ago ?
Heads of Terms has it completing 19th April.
Might even get an intra day RNS !!
Robins -you've asked maidit but I'll answer as a potential punter myself.
My view is this company dilutes more than water and therefore no one new is going to buy in when RRR probably has about 2-3 months of funds before they need to dilute again and they never hit a timeline or deliver on a strategy... no lithium sales, no asset disposals...just the tried and tested shareholder dilution over and over.
To BB's earlier point - equipment was going to be flown in - RRR must be the only company that can charter a plane to stay in the air over a week (this is tongue in cheek humour News before you comment).
It's ridiculous to think that the illegals in Faso have made more profit out of RRR than the shareholders.
I'll possibly buy in as a short term hold when something concrete proves the downward trend wrong such as -' we have gold to sell' or 'we have sold lithium' or 'we have just received a fat cheque from the DRC'. There can't be many mugs left ready to fall for another REACH RNS or a weak as p**s fluffy stockbox interview but who knows.
This company needs to finally deliver or the gravy train may finally come to an end.
Helpful five years of ramping this and not once have you been right or anywhere near close.
Your job is to relentlessly ramp to get your placing shares away at a profit.
It's getting harder and harder isn't it ?
Your latest on FASO
- 5,000 ounces net to RRR soon.
- costs $300-500 ( down from your original $550)
- throughput 1,100 tonnes an hour.
It's tosh from the same ramper who said Tin Hill would manage 1m to 5m tonnes. The irony is it could not even manage 200 tonnes that was someone else's and is currently missing in action in a truck .
Faso will be the same!! Wheres the equipment they said on April 5th would be flown in days !!!
Is the golden goose nearing the end of its lifespan ?
Maidit I cannot understand why newbies here are not buying when we have gold assets and the gold price is so high. Surely there must be some punters out there?
What we need to know is who is the big spender who bought £2 worth this morning already at a loss with the dealing cost and a 1 trade for 0000000000p do they know something LOL!! or did that 500m issue on the 18th help the liquidity they was moaning about a few weeks back ?
on a lighter note GOLD drop 5.25% and went up again 3.6% within 10min'' @ £2382 and within reach of $2400 and as i said before is plotting it's own path, unhindered by MK forces / GO politic, been that everything is going to be backed by gold eventually as it's hard cash, quite literally''
I just had a quick look at some of his drivelling. Thick doesn't do him justice.
1. Cost of production: this is driven by the grade and how fast the alluvial can be processed. It is also driven by mechanised v semi mechanised production. Hard rock, at depth is typically $900/$1,000 per Oz as in the case of Soma Gold.
2. Mechanised at volume production will likely be around $300/tonne. In the short term it will be higher.
3. Water: the company has said it will need to drill two boreholes for water. We have seen that illegals have already drilled a well: the pictures are on Twitter. The water is recycled once the ponds are filled. Some will be lost to evaporation.
4. Heat: yep the company has publicly said it is too hot to operate during mid day. They will be operating two five hour shifts outside of the daily heat.
5. CLN: stands for Convertible Loan Note. The genius accountant is excited that he has found out that loans rank ahead of equity in a wind up. Surely accountants knows this or maybe this sort of basic knowledge is not required at KPMG?
6. It looks like the grade will be 2/2.5 g/t and that some gold is still fixed and so will need to be crushed. That means that total gold is a lot higher that 2/2.5 g/t. NB no one "knows" what the grade will be until the operation is up and running: that includes AB, Willem and Sam. Not "knowing" does not mean it is zero.
7. The illegals were operating a wash plant operation: that confirms that the grade is not zero.
DYOR
DYOR
News are you talking about Boring Boy? He has issues, lots of them. He makes stuff up and then goes on about the same endlessly. I doubt that he is a partly qualified accountant; his knowledge of accounting seems de minimis. For instance he went on for months about an intra company loan being an undisclosed liability. He was corrected about it several times but returns it it repeatedly. Same with the former charge on RRR assets. He simply doesn't understand what he goes on about or if does then he deliberately lies about them. I am sure KPMG would like to hear about one of their accountants trying to manipulate a share market and bringing them into disrepute. Holding himself out as expert (ACA KPMG) removes any defence he would have against being accused of market manipulation. Yes M'Lud, it was an honest mistake, repeatedly over months despite being corrected and being an accountant with KPMG. Yes M'Lud several mistakes (plural), repeatedly over months.
No one knows if I took the placing or not, I haven't commented and if that drives the trolls crazier then all to the good. If I did take the placing, where is the TR1? In fact no TR1s from anyone. I don't know but given who the broker is I suspect Mr Black took some.
DYOR
Helpful
Since you may have Mr A.Bell, Chairman's@ RRR email , then I think this situation in the last 1hr + of posting on this RRR stock forum on the London South East and yesterday has to be made known to Mr Bell as ALL GENUINE SHAREHODLERS posting on this RRR stock forum need the over-sight of the co and or the NOMAD. All 101. This is the correct procedure of the regulatory framework in Britain. Thank you. I have never had need to contact Mr Bell at all so dont have any access to his email @RRR. Fri, 19.4.24 Calling shareholders like me and Maidit308 by 1 is one thing but this takes on a new level that anyone who post CONTRARY to the NEGATIVE may not be welcomed etc? All rather puzzling ? Just wondering?
P.S.
EVEN HELPFUL, the poster's PROFESSION has been posted on a public stock forum including FULL NAME ie 2 besides the surname, wanting to meet Helpful per 1 yesterday and if not, then appears to want to chance meeting at the "local" kinda of thing? How does Sir/s [2] know where Helpful is staying to meet at his pub? No one knows that surely?
Then, repeating that Helpful must NOT post on this forum? Getting quesy, yes, no. NO STOCK FORUM ON THIS SITE HAS THIS HAPPENED BEFORE. Fri, 19.4.24. Just askin what is THIS ALL ABOUT? How does Sir know the SIZE OF HELPFUL on this forum by Sir?
This subject matter must be answered once and for all.
ALL funders of any AIM co are taking a risk and that is FACT.
Anyone can participate in funding - simply ring the named broker to get on the list and its as simple as that.
NO, HELPFUL will not be the one person taking 500m SHARES in RRR in the last placing. Rather impossible to be a funder all the way through from inception or part way. The sums alone are not going to be easy for 1 individual alone.
So, you want Helpful to NO LONGER POST. Yesterday, one wants to meet up with Helpful and when Helpful said he was busy cleaning DVD's, he said, he could chance at the LOCAL kinda of thing? Isnt all this not under this site's rules?
So, not sure why all this about Helpful given Sir/s are NOT shareholders of RRR. ONLY 2 SHAREHODLERS DECLARED on this forum. Or if another is declared, then strange why posting appears not aligned with a holder that is positive going forward. Just askin. Fri, 19.4.24 The rule is privacy be it on this site or in real life ie legal right of an individual. So, why Helpful's FULL NAME has been posted on this forum by Sir/s? Full name as in 2 names besides the surname. Few know the other name. Eg John Smith could be lots of John Smiths but John Edward Smith is specific? Yes, No? Just askin.
Ordinary Sharholder - twenty fold down in 14 months. Last in any restructure / fund raise.
Helpful - CLN at 12% coupon issued in mid 2022. Capital protected in pertuity and discretionary warrants to sweeten it . He also participtes in discounted placings. Best of all he has primacy in a winding up.
On renewal he has the company over a barrel on terms ( higher interest rates and vastly reduced warrants)
Helpful and ordinary shareholders interests are unfortunately not aligned.
Banburyboy
In your 11:56 post, you directed it to me personally so I must reply. First of all, I mentioned the 11:40am post on this forum and in particular, sentence 3. It appears to be a SWEEPING STATEMENT in which a thorough analysis was NOT posted. You have stated you are a CHARTERED ACCOUNTANT quoting ACA etc and from KPMG [this is your own post on Harbour Energy to spec about me which is not related to Harbour at all. So, from your own mouth]. If so, then, ALL ACCOUNTANTS MUST PASS LAW PAPERS of different types eg company law etc. So, rather stunning that at 11:40am, you can post something like that on a public forum that was UNQUALIFIED.
Hence, why I posted an earlier post on this forum that an ANALYSIS must be produced and this has NOT BEEN DONE. Why? One sided. If a BIG 4 Accountancy firm were to do an ANALYSIS, it would not be like what you appear to have posted via the 2 posts.
FINAL EVIDENCE OF PROOF:
In the official RRR RNS @ audited accounts, the AUTHORISED AUDITORS AND ACCOUNTANTS WILL REPORT and whether RRR is a going concern or not , or qualify that funds must be raised etc. THEN, YES, IT IS A REGULATORY NEWS and one in which the auditors have the authority to make any statements as norm.
HELPFUL
It has NOTHING to do with the 2 posts as above by your good self. You have called me names and to which this site will ban posters for? In reading some of your posts, you have taken issue with Helpful and this is something that is your business. However, one poster now wants to meet Helpful and knows even where his LOCAL IS? Local in the UK is meant to be the PUB. How can anyone on this forum know which pub Helpful goes to and how do you know, Sir, the size of Helpful? How? Hmmmm. Fri, 19.4.24 Just askin?
Terrible presenter. You right about the read across.
DYOR