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Some of your past posting muses specinvestor99:-
"I like RRR's chances but I dont view the company with rose tinted glasses There is risk here but I accept that risk for the potential reward"
"Regardless of the outcome the end result for RRR shareholders should be very rewarding"
"I understand that prior purchasers who still hold RRR bought at significantly higher prices and are disappointed with share price and it very well may be that I too may be disappointed in the future but for now there are multiple reasons to be optimistic"
"Yes Canadian. No I don;t do a lot investing on AIM AIM (home of con-men)"
"'Even a blink squirrel finds an acorn every once in a while'"
“Better to remain silent and be thought a fool than to speak out and remove all doubt.” Attributed to Abraham Lincoln in Golden Book, Nov. 1931
"IMO This is a gamechanger"
I agree with your last two points above.....I tell you what .....give me £30k and I'll give you back your investment less £29,985.....is that about $Cad25? are you just "disappointed" ?
perhaps in England/UK it is used 'informally' but not in Canada or the USA
In either of those 2 countries making those written statements can get you sued. I have a friend who made such a comment, got sued, went to court and got a jury verdict had to pay to $1 million
A quick google search and can you find legal cases where people got sued over written comments on stock chat rooms
crime against morality.....karma will out!
Jeez cool your jets Spec. Maybe English isn't your first language but that phrase is used informally all the time. It's perfectly apt in the situation. It's criminal what the management have gotten away with for this length of time. Just like the majority of **** on AIM. Their days of reckoning are coming ever closer.
I disagree. I have complained about RRR/AB where I believed it was appropriate.
i challenged the criminal allegation because it is not proper.
I have lost money in the market too many times to count but only once due to fraud (president was charged, found guilty and served time in prison)
what laws has AB broken? massive shareholder dilution which was approved by shareholders and/or in compliance with securities laws and regulation is not criminal at least not in Canada. Is this criminal in the UK? i suspect not
you outline possible mismanagement which is not criminal
those placements were approved by shareholders and complied with the law
where is the criminal violation?
In the hindsight of today's RNS fund raise, I should of sliced the 6th April 2022 top up @ 0.37p posted below , on the 24th August high of 0.675 , can buy today at a lower 0.35p
This is AIM .
Down 15% on today's news ( but a 16.5% spread showing ) today .
Thankyou Banburyboy for simplifying the complicated fund raise
We raise up to $1.5m
550k at 0.7p
1100k almost certainly at the floor of 0.2p.
That represents a max of 628m new shares at a weighted average of 0.24p assuming the floor price.
Hardly a premium to share price when looked at in its entirety but probably a 50% discount.
Not sure how long $1.5m will last but the company desperately needs Congo to happen to avoid the additional $1m being utilised at userous rates.
I fear that Bell has outflanked Helpful and his chums who tried to find a way of stopping him doing what he does best -diluting equity holders infinitum - AB is laughing at you all !
My view is the shareholder group (they hold circa 23% of the equity - it used to be higher) told Bell he was to deliver value from Red Rocks existing assets/portfolio, I recall posts from Helpful and commentary from Bell himself along those lines around 12/18 months ago.
The mission was a clear one, deliver value, namely JV, IPO or sell projects at the same time manage the investment portfolio (POW/EO/Jupiter/Juno shares) Out of the blue the potential 'windfall' from the Congo came when a dirty deal was done by third parties, Bell was sent to the Congo, no doubt under the instructions of the shareholder group to try to collect the $15m cash RRR was owed - the first 6 week attempt failed and clearly the second 3 week visit also failed, no cash was forthcoming.
Only 2 months ago Bell said he did not want to dilute equity holders (the SP was 0.50p) because the valuation was too low. Bell was hoping for the listing of Elephant Oil or the Congo cash - neither happened.
The shareholder group had supported Bell with month by month equity raises and loan notes previously, the investment portfolio had long gone - their efforts came to nothing as Bell failed to deliver anything meaningful, but that is nothing new !
So we now have a situation where Bell has not only let down the minority holders but also the larger holders who on a equity basis are seriously and I mean seriously under water - I estimate the largest shareholder is down at circa £500k, he must be well happy.
Bell has now diluted the major holders, has destroyed value, delivered nothing in the last two years (or indeed over the last decade, the m/cap has not exceeded £10m since 2012) but has secured funding (on onerous terms) to keep his gravy train running for at least another 12 months.
The best thing that could ever happen here is removal of Bell and parachute a new management team in. If the 'major shareholders' had any backbone they would call a requisition and do the obvious.
As for Helpful, that EO windfall looks like it is not coming anytime soon - Happy Xmas !
specinvestor99.......those rose coloured specs you have are nice to own! I used to feel the same but after losing tens of thousands of £GBP with two of AJB helmed companies....see how you feel in a few years....I wouldn't be getting family and friends involved here if I were you...they may dump you on results! Great to here that the binman gets £140k salary over the pond with you....over here it's a bit different e.g. my wife is on £11 per hour as a 23 years service manager in the Health Service....that's about £22k a year and my income is perhaps 10% of that......so a loss of £30k with us is about the same as your binman losing £300k odd.....Last time I spoke with AJB he was a wee bit defensive like, blamed capital markets for our woes! Think his salary was still coming in ok though!
I only need this share to multi-bag by x 250 fold....I think that's about 25,000% to get my capital back.....I suppose anything is possible...lol!
Very very easy to back up!!
Look at all the fund raising for the past 15 years then look at Mr bells salary and bonus. Then look at shareholders return !!
You don't have to be a genius mate!!
explain why it is criminal. That is a serious allegation subject to libel and/or slander
unless you can back that up you should immediately retract it
All Alan Bell does is raise money for working capital !!! How does he get away with this??its criminal.
I was here about 10 years ago. And it's the same old story! Raise money for Mr bells wages
"Get real. This is why people on AIM lose money. Emotions get in the way, positive and negative. This is about money not an agenda. AB is key to making money here: it can't be done without him"well I guess if my 99.6% loss is the key to making money then AB has my vote....someone else driving the company could have lost me the 100%............lol! lucky me!
Helpful if you think we are doing o.k. here , and I hope you are right, then are you buying at these low levels?
Well unlike you, I do take it lightly. This is only one of several investments and, apart from the irritating delays in DRC, I think we are doing okay here.
Hopefully, this breaks the log jam in Victoria and they can start to demonstrate some value. Other things are in hand, as will become clear.
And I have to say that I am glad I am not the one having to deal with the slippery ones in DRC but eventually all these things time out.
DYOR
Good lord Helpful, I'm taking the ****! I'd tell you to lighten up but suspect you're at breaking point.
All you can do is laugh at the RRR/AB rolling calamity, don't take it so seriously. Although if you're investing your family funds on dregs like this then that's on you.
More proof that you either don't read or can't read.
1. Yes I know it is extraordinary but it does
2. Developing it is exactly what they spending the money on. Read the information, maybe it will penetrate
3. Again read the RNSs and the information. This was disclosed in the RNSs.
4. Information taken from technical reports drafted by parties other than RRR/RRAL/NBGC. In fact, drafted for the people successfully operating the Berringa gold mine. https://www.miningnews.net/resource-definition/news/1204136/ballarat-unveils-berringa
5. The pretty video shows you where they are drilling in relation to the ore body and why.
6. We all know what has happened, even you.
7. Development drilling at Berringa
DYOR
Zumore missed that and it seems so
We raise up to $1.5m
550k at 0.7
1100k almost certainly at the floor of 0.2p.
That represents a max of 628m new shares at a weighted average of 0.24p assuming the floor price.
Hardly a premium to share price when looked at in its entirety but probably a 50% discount.
Not sure how long $1.5m will last but the company desperately needs Congo to happen to avoid the additional $1m being utilised at userous rates.
Oh wow, all the Helpful classics in one post! Let me generalise the points so you can use it again in future:
1. RRR has to pay its way. It is a failing early stage exploration company which has been operating poorly for nearly 2 decades.
2. RRR/some JV has entered into a deal to acquire the ABC asset which will never be developed or sold.
3. The licence is up for renewal. Basically spend the money or lose the licence that will amount to nothing anyway.
4. This is what they are after: x.xx million ounces of unobtainium. **** it, make it x.xx billion ounces.
5. Here's a pretty video of something which will amount to nothing to RRR.
6. Rue some cash flow not coming in on time.
7. Give my bull**** view for what it's worth (nothing).
8. Don't mention the last resort funding to keep the life support machine on! Need to keep in AB's good books!
Soon, Rodney soon.
DYOR
Banburyboy, somebody on the other forum thinks it's even worse than you suggest. They believe because it says "rounded DOWN to the nearest tenth" that would mean a 0.29p price would be rounded down to it's nearest downward tenth which would be 0.20p.
The usual playground name-calling from the usual suspects as opposed to any analysis or understanding.
1. RRR has to pay its way. It is an early stage exploration company.
2. The NBGC JV has entered into a deal to acquire the Berringa asset: https://www.londonstockexchange.com/news-article/RRR/acquisition-of-berringa-gold-mine-complete/15640721
3. The licence is up for renewal. If the JV doesn't commit to the exploration programme it won't get renewed. Basically spend the money or lose the licence.
4. This is what they are after: "The focus of planned drilling will be to demonstrate the remaining gold endowment which, as outlined in 2004 and 2014 technical reports, includes possible exploration target ranges down to 1000m of 0.91 to 3.89million*,** and 0.70 to 2.91million*,** ounces of Au respectively.1,2 Further details in respect of these exploration targets are provided below."
5. This is the 3D Model of the resource. From this you can see quite clearly what they are targeting: https://twitter.com/nbgoldcorp/status/1602605080531943424?s=20&t=aAHNJK0Z_B4ioTCJJ2AT8w
6. It would be better if the DRC cash had arrived but it hasn't.
7. My view for the last six months is that we should sell or at least do a pre-IPO round of funding. It looks like the decision has been taken that the value inflection is so great post a successful drill that they should wait. Time will show who was right.
DYOR
I believe when the pre-emption rights were in place Red Rock couldn't dilute the large shareholders without their permission, so they were always offered a chance to partake in fundraisings so they could keep to the same percentage that they already held in the company.
However when the disapplication of the pre-emption rights were voted through some time ago those large shareholders could then be bypassed when Red Rock looked for new fundraises. So of course that means they can now be severely diluted.
I can remember a couple of years back poster 'Helpful' and his HNW clients seemed to have some control over Red Rock. I recall Helpful saying any fundraise would be voted down and if Red Rock wanted money they would first have to sell off some assets. AB duly did that and the £2.72 million that they still held in Jupiter mines shares were sold off last year and Red Rock's £900,000 Power metal shares were also sold off.
I know above named poster likes to make out Red Rock are in a great position but todays death spiral fundraise announcement looks absolutely awful for shareholders.
The game the reference to above and below 20p made me laugh.
The subscriber will be pushing the price as low as they can. Sweet point for subscriber is 0.161. If they can get it there. 8% discount drags it marginally below 0.15p rounded down to 0.1p. Feel sorry for holders and its not looking good.