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"....he loves to go on a bit."
A bit like you then Helpful!
TDT
Just listened to his Bearcast: he loves to go on a bit.
His hypothesis is that there will be a bull market in gold with the price going to >$2,000 and maybe >$2,500. His view is that RRR will go higher off the back of the higher price and that if the gold goes crazy (which presumably is closer to $3k though not defined) RRR will go a lot higher.
Last time gold was >=$2k the SP was around 2p and RRR now has more gold assets.
NBGC
Migori
Cote d'Ivoire
Burkina Faso
Colombia ($3mil royalty)
There was the possibility of a gold asset in DRC but that seems to gone away.
He also reckons there will be more M&A activity. If gold does go to between $2k and $2.5k, I expect Soma would want to get the El Limon plant back into production sooner rather than later.
Anyway however it works out, it is not negative for RRR. It would also mean that it would be much easier to list NBGC and easier to get a JV partner for Migori.
Gold currently $1,876.
DYOR
https://twitter.com/PowerMetRes/status/1612404145742389248?t=X3LerEEhiYnx_Wn96JJKiQ&s=19
https://twitter.com/RRR_RedRock/status/1612404485661376516?t=npRMmZNniCN4ZS27tlWddg&s=19
More good news
Could get interesting now. Worth a punt ?
For those interested Tom W has just written a piece on his blog, he is now suggesting or implying now is not the time to sell Red Rock and makes an argument to hold, this is a about face as he said he would be selling, so what does he know, remember Bell and TW are chums.
Apparently Zimbabwe production starts this month from Twitter
https://twitter.com/Ma_dzimbahwe/status/1611367080317657090?s=20&t=4O3lj9mQMjAqw4rDmUjLmA
https://twitter.com/Share_Talk/status/1612038366282846211?t=g8XaNzsuLcR5VVYGcWLAVw&s=19
new SEC filings made 6 Jan 2023
see https://www.sec.gov/edgar/browse/?CIK=1865833&owner=exclude
The filings say it is a "firm commitment" same as the Dec 2022 filing so I am guessing that there are changes are being made at request of the SEC
RRR had applied for a mining license on the tailings prior to the exploration licenses not being renewed which was then followed by the ultimately sucessful litigation leading to the exploration licenses being renewed. Both Kenya and RRR are at fault. Placing a property into production needs a reliable legal structure. RRR picked up other projects leaving Migori to sit. Last year RRR was focused on Congo and what ever other time was spent on Lithium and Australia etc.. AB needs to get something done on Kenya or the government will not be pleased (neither will RRR's shareholders)
Para 3 should read....
Bell was tackled on why there was not some co-operation with Caracal Gold who had recently listed on the Main Market and has a mine nearby.
The increasing gold price should draw some attention back to Kenya, the project itself is a bit like the antics of Bell, very confusing.
Having looked at historic presentations the focus appeared to be on near term cash generation from old tailings dumps and near surface alluvial mining, all would have been low cost, it never happened. Bell was challenged last year he suggested although viable the intent was on securing a JV partner as the project was too large for Red Rock to handle on it's own. It never happened - nothing new of course.
Bell was tackled on why there was not some co-operation with Caracal Gold who had recently listed on AIM and has a mine nearby, it seemed to make some sense, something rather than nothing you may suggest. At the time they were looking for new ground and being LSE listed some tie up would have been logical.
Bell was asked about Caracal mid year, rather than look at this as an opportunity he decided to attack Caracal by implying their governance was questionable and pointed to them being Main Market listed (less regulation) and their mine whilst producing was running at a loss, he also said he would not want their paper (shares) as he considered them to be overvalued, well there you have it.
During a Caracal podcast Red Rock were mentioned as neighbours in Kenya, the director stated he felt RRR ground in Kenya had low grades, they did not seem too interested and eventually acquired another project in Tanzania, maybe their hostility was caused by Bell berating them - who knows, an opportunity missed IMO.
Having listened to the Christmas chat with Bell and the geologist from Zimbabwe Kenya was mentioned at the end, Bell seems to be a a loss to know how to move things forward (no surprise there) he asked listeners if there was anyone interested in the Kenya ground to contact him? Well let me assure you no mid cap or major would be listening to a podcast from Bell ahead of the Xmas break, or at any time of the year come to that.
The next matter concerning Kenya is the licences are up for renewal, very little work has occurred, one would hope they will be renewed however. The obvious issue with all things Red Rock is the company has too many projects and is hopelessly undercapitalised - something the 'major shareholders' seem to forget (what's in it for them) however they continue to support Bell and his flipping of news-flow, project to project.
Whilst Kenya probably has value, does anyone here really think flip flop Andrew Bell has the ability to either find a meaningful JV partner or complete any corporate deal at all? I doubt it.
Bell has ongoing illusions of grandeur, the thinks all his projects are worth hundreds of millions of dollars, the truth is Red Rock is valued at sub £4m, until he goes it will remain a £3m to sub £10m company, like it has over the last 10 years.
Just listened to AB's voice messages on the RRR telegraph group. Ref DRC I'll give him until end of January to deliver. Looks like his back in DRC next week
https://twitter.com/HedgehogTrader/status/1611463646869069842?t=CcqPViWz77YySpOazAFPtg&s=19
https://twitter.com/RRR_RedRock/status/1611454394586857472?t=wx_v3uh1PvC-cwhhFHPGaQ&s=19
https://twitter.com/RRR_RedRock/status/1611417062941032449?t=n7kAlUHm2F48Sjzpnslurg&s=19
I’d be equally ambitious if I were him too. No recourse for wasting shareholders money.
He’s just playing in a big casino, betting on whatever vanity project takes his fancy (or who indulges him more), only thing is, he never loses, because more mugs just keep replacing his chips at the table.
For folk to say this would multiply if he managed to actually bring home some bacon from the court case, you’re deluded. 7.5m is a drop in the ocean to this mans cash burn.
low targets? A listing in the US is not a low target. SEC filings started over a year this is not unusual
production from lithium- IMO not a low target
Congo legal/arbitration- a successful outcome is not a low target IMO
Australia IPO which appears to be ready but is awaiting for more favorable market conditions. IMO not a low target Nor are market conditions under AB control
If anything I fault AB for doing too much in too many countries. IMO he is far too ambitious for the level of funds available
That’s not exactly the fault of Andrew Bell though and it sounds like you are suggesting that…he’s maybe jam tomorrow on many projects but blame cannot be attributed when it’s out of someone’s control….we all know it’s close from the information on line - time to raise the funds and list I’d suggest
Elephant oil has been listing shortly for the past 12 months LOL
We can chat in a year, but there is going to be so many swings between now and then.
IF and yes its a big IF as he's not secured it yet, but IF the DRC funds come in of $7.5-10m then just image the share price between now and a year. More cash than the market cap plus the quality projects.
Elephant Oil is listing shortly and within 6 months that will be worth something of value.
Hopefully Lithium is producing this month in Zim...but a year is too long to make snap judgements for me.
GL
Imn 1 years time Liquidsilver.... i will ask your thoughts again. i will be interested to see if your opinions change over time.
several times from 0.3/4 range as others have stated over the last few weeks.
Gold:
Victoria, Australia JV with POW metals and drilling now. Look at ECR, Fosterville South and other companies in Victoria on good assays. Gold rises and this project alone will be significant whatever you think of Mr Bell, and you can be assured Paul Johnson at POW Metals will promote the assays and push the IPO process or even do a deal for Red Rocks stake. There is significant value.
Gold:
Kenya - https://www.rrrplc.com/projects-and-investments/gold/migori-gold-project/#:~:text=Red%20Rock%20is%20exploring%20the%20Migori%20gold%20belt,resource%20in%20Kenya%20held%20in%20two%20exploration%20licenses.
JORC resource. Again regardless of your thoughts on Mr Bell this is a real project that in a rising Gold price will attact attention both from investors in RRR and other companies looking for a deal or to IPO
Timing is everything in the markets. Gold is $1,840 and we all hope its rising to $1,900 soon enough - projections for 2023 are higher.
0.3 is the price. GL
AB sets himself extremely low targets which he consistently fails to achieve, whilst milking the company for all its worth.
Question... HAS ANYONE ON HERE, EVER SEEN A RETURN OF THEIR GAMBLE? SORRY, INVESTMENT?
This isnt even a ''Jam tomorrow'' company....
its a .. ''we think there is fruit in this field, maybe we can collect it in 2 years time and maybe we can make some jam... meanwhile, we will look for another field with some potential for fruit'' !!!!!