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The claim would be heard in London or Switzerland not the DRC.
And it might well take some time.
DYOR
More reading:
https://www.bbc.co.uk/news/business-63858295
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
https://markets.ft.com/data/announce/full?dockey=1323-13992561-1Q6D0HIL22RK1KNSFNOCQJCI9O
DYOR
That could take years. If the court case took place in the DRC I doubt we would get anywhere with all the backhanders passing around. But, if it came off then it would make everyone very happy indeed.
You lot need to learn to read.
I never said that Glencore would hand over readdies: I commented on the size of RRR's claim.
The claim is the monetary amount which RRR's reckons it has lost by Glencore's tortious interference (look it up). To make a claim you have to put a number on the losses and justify it in a manner that the court might accept. You can't just pick a number and justify it on the basis of hurty feelings.
The two bases RRR would use would be $420mil less the $20mil already paid) x 50.1% and the DCF for the loss of profits from exploiting Musonoi plus the two other licences and any other losses it suffered as a consequence. Other losses would include having to raise funds at distressed prices and loss of profits from not being to properly exploit assets.
Normally, someone like RRR would appoint a court accepted expert (there are registers of them) who would advice on the quantum and how that quantum is arrived at.
Based on the above the claim would be between $200mil and a few billion. Interest is normally added plus costs.
The court decides in what is called the Settlement or Award or the two parties agree outside the court process, again, the Settlement.
What the claim is and what the settlement is are not the same thing. If RRR achieves success then whichever way you cut it, it is still a decent number given RRR's current MC.
DYOR
Yes Duke that's 700m shares assuming .1p issue price.
Need news fast on Tin Hill to get a higher issue price.
If DRC comes good or as Helpful says Glencore hand over the readies no share issue needed.
Big couple of weeks.
I notice that Bell is all over the shop with the timing of his RNS's releases.
Jonfon - you don't post oftern but your recent post sums up perfectly where we are.
Tin Hill update would be good
Every RRR "success" over the past 8 years has gone like this:
1. A breakthrough in a long running, high risk project is achieved. The money is imminent.
2. We encounter a "small" delay. Shares are issued to see the company through till this is rectified. It is not announced, but this money is mostly used to pay AB his six figure salary.
3. The shareholders wait patiently while AB jet sets around the world to resolve the issue.
4. Shareholders lose interest, the share price tumbles and suddenly, when it looks like all is lost, there's a new breakthrough.
Go to the companies website and read about the gold in Kenya, Australia and Columbia, Ferrosilicon in Bosnia and copper in Congo. Are we going to add Zimbabwe lithium to this list?
Did Bell make it on his alleged flight to the Congo or did he miss that fooking target as well
Helpful, over 10 years ago bell was predicting a£500 m company . After a litany of failed vanity projects it is a £4 m lifestyle company. Please cut the bull…t
Mip1 - two weeks ago you called it fantastic entertainment now its sniping and counter sniping.
Investing in RRR is not for the faint hearted !!!
Let's hope AB comes up with something soon to release us from this cycle of sniping and counter-sniping.
Helpful as I and others have said numerous time Lithium prices are not relevant if you are not selling anything !!
It seems the latest position is no seperatev tin Hill update as we now have five licences so it's out of date.
It doesn't take a genius to report separately on Tin Hill.
What we are really saying is no progress on TH but you will fiddle whilst Rome burns and post lithium prices. !!
Yes i remember both posters. By their last posts both had lost confidence in Bell and wanted him gone.
Before you were here zumore
there were 2 posters,that oppenely admitted on here,to have invested around £100k,into here.
one even met bell for dinner,before buying the 100k steak,in a drill campaign,for gold
the other chap,had a dibilitating illness,MS ithink,so couldnt go far
that was when,mr magic was around
Yes correct it was 2013 when i first started investing in shares. It's still fresh in my mind it feels like yesterday.
Looking back at 2013 i was very very naive Back then i remember thinking that investing in shares was a more respectable form of gambling.
I would read RNS's and watch interviews with the various CEOs and i was trustful and believed in what they were saying. Sometimes i would invest in a company and i felt so good when some fellow thread posters congratulated me on my investment.
Back in 2013 i would sometimes see posters who made negative remarks about a company or management. Even back then this didn't bother me because as long at what the CEO said came true then i was confident the share price would rise.
Then i noticed a pattern, what most CEOs said didn't come true. They also never resigned over failing to deliver. I had high expectations so this disappointed me.
Then it dawned on me, an huge number of AIM CEOs were crooked ścum of the earth indiviuals who had found a legal racket to fleece people. So then it became obvious why these grûbby inviduals never resigned over failure.
You are just as bad. You are the blue bottle fly of AIM, where ever their is śhit you will be hovering around telling people how wonderful it is. Śhareprophets article said you are an independant financial advisor who manages the portfolio of your clients. It blows my mind that individuals like you would be advising clients that companies like RRR are a good investment. You must be the low end of your profession.
Keep to your flimsy promise and never respond to any of my posts EVER again. CONMAN!!!
Https://twitter.com/DerGoldreport/status/1678008975365685250?s=20
Https://twitter.com/jczuleta/status/1678039545453879296?s=20
My last ever response to you Z.
I did have a look back at some of your postings back in 2013, interesting.
I note that your understanding of investing and commercial matters remains at near zero. I also note your previously stated enmity and hatred for Andrew Bell and Scott Kaintz. The hatred seems misplaced given your previously stated lack of knowledge and experience.
As I said, ALR is a business; it is not Tin Hill.
Tin Hill is one licence and one asset of ALR. In business things change and in ALR's case things have changed. ALR had multiple licence applications in the system and licences awaiting change of ownership registration. Some of those have been dealt with and some are still in the system. The new rules also change the business environment.
I am very happy with ALR and my holding is worth decent money. You however think I should take you seriously, the man who lost money on RGM and RRR, who has no current holding in RRR and no holding in ALR.
It would seem that your only asset is your continuing, irrational hatred of Andrew Bell and to much lower level Scott Kaintz.
Anyway, time for a walk in the sun; and get a life...etc
xx
DYOR
Helpful when the Tin hill 15th June RNS was released you was known as "loose lips Lundy" because within days Tin hill would be going into production and you were going into fine detail at the huge amount of money Tin hill would soon be raking in.🤑🤑🤑🤑🤑
Now a few weeks on you are saying Tin hill is not that important and you don't want talk about it. 🥴
H5O grow up.
I am not in cahoots with AB, I personally own 10%+ of ALR and with two mates we own 30%+.
ALR is a business, it is not just Tin Hill.
RRR does not control ALR it has less than 50%.
AB promised a presentation: I have not seen it or a draft. Anything they were going to say 2/3 weeks ago is out of date. ALR is now significantly larger than it was 2/3 weeks ago. Running one site out of the UK would be difficult enough but five would be too much. ALR now needs more local management: it now has four more sites where it needs more sampling, it needs the EMAPs, the EIAs and the EIA certificates. It needs a plan to operate the five sites.
The market marked up RRR about 80% a few weeks back off news on Tin Hill ie, it valued the news at about £4mil. The ALR news since is much greater and should be valued at more and we have more licence applications still in the pipeline.
In addition, the new rules open new opportunities.
In my view, Zimbabwe will gradually make the lithium market in Zim more regulated. Smaller operations or people inexperienced at operating in a regulated environment will want out in due course.
Again, in my view ALR is worth a multiple of RRR's MC. Anyway, you make your own choices and so on....
DYOR
Helpful you do write a load of rubbish about Glencore! They are not quaking in their feet about Red Rock and they will not be paying Red Rock any money.
Bell and you have said that in the past Glencore had discussions with Red Rock about the DRC asset. Nothing further happened. So nothing wrong with that.
Bell said that as soon as Gecamines bought the asset from VUP they instantly did a deal with Glencore.
If Gecamines had told Glencore that they would soon be the only holders of the DRC license and Glencore had replied that a deal could be quickly done if Gecamines ever became the sole license holders. Again nothing wrong with that.
29 April 2022 Half year report said:
"A partner wrongly in our view sold our assets for $20m to the parastatal from which they came"
So DRC state owned company Gecamines became the outright license owner when they bought the license from VUP.
From same RNS:
"We also believe we have a legitimate interest in the on-sale of those assets at a very large mark-up"
Well considering state owned Gecamines bought the license from Red Rock's partners VUP and then Gecamines managed to wipe Red Rock's name from the license. So when Gecamines became the outright license owners they near instantly sold it on at a considerable profit. So if RRR want to chase after anyone then it should be Gecamines. Certainly not Glencore!
Also this mess is at the end of the day is Andrew Bell's fault. For years DRC is in the bottom 10 worst countries in the world to do business. In the wall street journal list DRC is ranked 182 out of 190 countries. So when Bell ignored all this and decided to do business in the DRC, it was his gamble, his decision, if anything went subsequently wrong it would be his fault. So something subsequently went wrong and therefore bad judgement from Bell once again!
Sounds like many an AIM company.
Could potentially be a different company with a new man at the top to clear away the past indiscretions.
Lithium looks exciting but it seems everything Bell touches turns to 💩
H5O great post. Completely agree
As I have repeatedly said thf next RNS needs detailed plan and milestones for Tin Hill only.
It sounds too good to be true in terms of quotes so far. If we have a clear sensible plan on Tin Hill it will massively improve sentiment.
Helpful - that's balance and objectivity and I've would my neck in on Zimbabwe as promised. I really think this could be a game changer but Bell needs to avoid twitter telegram and talk to shareholders via RNS.
Sounds like another bad luck story Helpful but for our appalling luck we would have a $2bn asset rather than a tenuous $10m claim which is unlikely to reach fruition. And you would be 100 fold up on your advice rather than 15 fold down. And you accuse the bashers of living in the past :).
Bottom line is you have called RRR wrong for years and that you can't escape that.
New - trader a new poster !! My debate is not with you. For me the view that anyone who posts negatively somehow wants to get in cheaper is idiocy . No offence meant but that's the stuff of five year old (let alone Helpfuls teenage poster)
Some might want to get in cheaper for me I have time on my hands, detailed company knowledge, quite a few fellow posters who share my views and I'm keen no one else is sucked in by the ridiculous ramping that Bell solicits and encourages.
So no not here for a profit rather in the interests of balance objectivity and fair mindedness. Not everyone is motivated by money.
Helpful when I get kisses which you reserve for others I know I've hit a nerve :)