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Litj produ omh company under £4m Mcap company!!
that's why it's red hot to invest in RRR
name one sub £10m Lithium producing company
To make it clear the following was not from Armchair Trader in the last post
I have not counted but there must be several 100 fund raises over time keeping a lifestyle for the BOD including self awarded bonus shares which help increase pay cheques whilst returning nothing to shareholders except loss after loss.
Is the following a record ;-From the 15th December 2022 until 21st June,a period of just 6 months, the Mr Bell has issued some 11 RNS announcements concerning dilution,including 'incentive shares' increasing the SII from 1.34 billion to 2.4billion.
Why would anyone in their right mind buy shares in this company.
Why would anyone want to trust any output from Mr Bell one of the higher paid non productive directors in charge of share holders funds on AIM.
This a polite synopsis of Mr A. Bells activities;-
' RRR The company seems chaotic and aimless, or in the most optimistic scenario, cursed with bad fortune. Its ventures seem to be stuck in quicksand, whether it’s waiting for a favourable court judgement in the Congo (and if the company gets a positive decision, enforcement of that ruling); the IPO of a company holding some rainforest in West Africa with USD25,000 in the bank; the hope that Kenya will become a gold mining mecca; the need for a Toronto-based company to start mining a mothballed asset in Colombia in the expectation some royalties might materialise; or that Zimbabwe will be a simple and straightforward jurisdiction in which to extract lithium from. It’s all a bit messy.
Red Rock Resources opened trading on 23rd June at 0.19p and has offered a -33% year-to-date return, and a -50% one-year return with its shares ranging from 0.12p to 0.7p over a 52-week period. The company has a market capitalisation of £3.94m. In November 2010, Red Rock Resources’ shares were trading hands at 393.75p'.
I have not counted but there must be several 100 fund raises over time keeping a lifestyle for the BOD including self awarded bonus shares which help increase pay cheques whilst returning nothing to shareholders except loss after loss.
Is the following a record ;-From the 15th December 2022 until 21st June,a period of just 6 months, the Mr Bell has issued some 11 RNS announcements concerning dilution,including 'incentive shares' increasing the SII from 1.34 billion to 2.4billion.
Why would anyone in their right mind buy shares in this company.
Why would anyone want to trust any output from Mr Bell one of the higher paid non productive directors in charge of share holders funds on AIM.
RRR
@RRR_RedRock **Mcap £3.5m**
#prem £100m
#kod £101m
#clon £5m
#emh £92m
#bhl £18.5m
The kiss of death has just turned up. Head for the hills.
TDT
RRR
@RRR_RedRock **Mcap £3.5m**
#prem £100m
#kod £101m
#clon £5m
#emh £92m
#bhl £18.5m
#RRR
**@RRR_RedRock Mcap £3.5m**
#prem £100m
#kod £101m
#clon £5m
#emh £92m
#bhl £18.5m
Cheapest Lithium stock in the UK
Mcap £3.5m!!!
Maqsood sorry but you remind me of the Iraq information minister in the second gulf War- "comical Ali" I pence !!!
As I have told you and been proved right any rise will be sold into or AB will use to issue shares to pay off what ever raft of new undisclosed liabilities he has set up. He will delay audited accounts for year ended 30th June 23 as long as possible to keep these secret as he does most years. Up to 10 billion shares in authorised capital so plenty more confetti to come
Teeklabrown,
yes
Yes
And no.
Bidding for RRR would be too complex given internal procedures: easier to just cut a cheque.
DYOR
BS why not try reading? That was not my valuation.
Hi Helpful. Thank you for your response to my post.
I had known of Geccamines but at the time of posting could neither recall nor find its name. As to the third joint venture partner, I hadn’t been aware of them previously.
For me, the issue remains why on earth have Glencore chosen this path to obtain Musonoi and the other two licences? The acquisition route they have followed appears fraught with the prospect of damaging Glencore’s ESG credentials. Surely an open approach to the joint venture partners would have been more sensible. We've all read the RNS’s “The company has received an unsolicited approach from a global competitor which may of may not lead to a formal offer” Who at Glencore thinks that, what appears to be skulduggery, is preferable?
The only sensible answer that I can conjure is that someone thinks that even at $420 million they’re getting a bargain, that the risks are worth taking, and that an open approach would have been unsuccessful.
If my assessment is correct, Glencore will need to take action to avoid yet another “corruption in Africa involving Glencore” story. I still think an offer for Red Rock would be a means of avoiding this.
Yes Helpful agreed with 1p coming here within medium term.
Many were negative on prem board at 0.04p and lots on kod at 0.08p,might be kicking themselves that why they didn’t buy them.
Similat story to unfold here with lots of positive news have to come and the main news has already arrived of EIA permit in zimbabwe!!
1p will be still giving only 25mil mcap?? And soon to be in production?!
Kod 100mil
Prem 150mil
And are still far from producing!
Dyor………. Arbitration money to land amd only signature needed…… as per AB last podcast!!
Good luck all and hoping for a great week here.
H has a valuation of 1p. It's a 5 bagger from here lol
The JV had three licences, one of which (Musonoi) was between two Glencore licences. The JV included a partner called VUP. RRR had 50.1%. The JV included 1620 Capital which became Bring Minerals.
VUP sold/surrendered the licences back to Gecamines for $20mil: Gecamines then sold the licences to Glencore the same day for $420mil.
RRR has won two cases in the commercial court in Lumbumbashi: further it won an appeal in one of those two cases.
It is now awaiting the award of the Arbitration Court to be signed. It has to be signed by all parties to become effective. The Arbitration Court award is in respect of the $15mil held by Gecamines ($5mil already having been paid to VUP).
Correct on further action against Glencore.
Correct about the correspondence between Gecamines, VUP and Glencore.
The claim against Glencore is only one asset. In my view ALR will be worth a lot more in due course. As to what to accept, who knows? A lot would sell at 0.5p and more at 1p.
DYOR
As the arbitration process moves towards a conclusion in Democratic Republic of Congo my understanding of events is as follows(hopefully I’ve got the names and figures correct) :
Red Rock Resources had a joint venture partner, a Congolese company;
The joint venture had the mining rights to a block of land that abuts two separate blocks of land where Glencore has mining operations;
During a period of time which included Covid related travel restrictions, the joint venture partner has sold the Congolese assets to a third party, VUM for $20 million;
On the same day as this sale, VUM has sold the newly acquired assets on to a Glencore subsidiary for $420 million;
Red Rock has taken legal action in DRC to recover its share of the money paid to VUM;
Once this litigation has completed, Red Rock intends to take further action against Glencore
The next points are my conjecture:
VUM and the Glencore subsidiary must have had considerable discourse prior to the day of the sale and purchase agreement;
It seems likely that the joint venture partner will have had considerable discourse with VUM prior to the day of the sale and purchase agreement;
Due diligence will have been undertaken by the Glencore subsidiary;
Red Rock’s joint venture ownership of the asset has either been ignored or has been hidden/disguised
Putting aside the shenanigans relating to the ownership of the block, it appears that Red Rock has missed an earlier opportunity to engage with Glencore and sell the block in a legitimate manner. For a company that continuously needs to raise capital in order to further its development of mineral assets it seems to have been a considerable oversight.
At the conclusion of the VUM litigation can we expect Glencore to seek to pursue the $420 million deal? Fight through the Congolese courts? Or, as an outlier, which is entirely speculation on my part, seek to buy Red Rock Resources in its entirety?
If it came to an offer for the whole company, what would you want for your shares?
You might be buying at 0.21 while waiting for it to drop, lol
Yes just popped up on my phone too..it might answer a few question here.
To Helpful & 99 thanks.
I think most people here would like to see the money coming n.
I think I fully understand everything else ie, further down the line , review the operation & decided if its viable to further refine and extract other materials.
I think management bandwidth might be something that should be looked at.
IMHO.
Apologies. Initially spodumene 2% - 3% grade lithium. Essentially, a quarrying operation on a pick up and pay basis: variously payment is 3 days/7 days.
It becomes more complex when you start grading and then more complex still when you start beneficiating either using flotation tanks or dense media separation.
Once we start beneficiating then we can export and that introduces more complexity.
At the point we start beneficiating that is the stage where we start process for tantalite and, maybe, tin and beryllium. Once processing, you would produce tailings stockpiles and then later reprocess for tantalite, tin and beryllium.
Regardless, day one ALR/Tin Hill is a quarrying operation.
DYOR
Helpful-- RRR/ALR are not planning selling Lithium but rather ore which can be processed into Lithium. much different products, different sales prices and vastly different time frames for cash flow and capital costs
Those differences are why readers on this fail to understand why RRR can have positive cash flow very quickly
Deckchair,
all of these information sources are just that information sources. The interpretation and analysis is down to us. Context matters. In saying ten years, he is referring to different legal systems, permitting requirements, different types of lithium resource. To my mind, it shows that we are in the right place in Zimbabwe and that to get from the first licence to first production in about a year is pretty good. It could have been done quicker but it is the way it is.
One reason for constantly bending AB's ear about divesting Victoria is the regulatory and permitting system. We only have so much management bandwidth: given the choice between progressing lithium (and a lot of it) in Zimbabwe or progressing gold in Victoria, Zim wins hands down. RRR having assets that might produce income several years down the road is all well and good but it has the opportunity generate very decent returns now.
I think the ten years might really be referring to brine rather than hard rock but it is also about another way of going about it. The conventional method is years of drilling, sampling, geophysics, producing a JORC and a BFS. Here the intent initially is to just produce some hard tock lithium and sell it. All the other stuff can come later. So for instance we might need to uprate everything if we want to process for tantalite, tin and berylium. If that becomes the case then ALR will need to operate a different model on the ground and it will cost a lot more money to set up.
DYOR
He meant to say RRR is ahead of all of them,hahaha
Hoping for selling to start soon!!
600k a month?
Wonderful and then grow to much higher numbers as growing!!
More lithium licences!!
Faso found lithium brine with gold!!
And big amount of lithium resources lie in our license area!!(according to rns- any negative posters go through rns before commenting) lol.
That might have hit the nail on the head Helpful..or will RRR Break the mould?