We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Hold on to your hat, the FIVE-OH won't be happy about me answering questions now he has sold his shares.
The El Limon mine and plant has been in production in the past and as was then Para Resources have paid back loan notes and paid some of the royalties but not much. The total amount due on the Royalty is a little under $3mil.
The new management that took over from Para after they messed up in Arizona, brought in new assets: El Bagre and Operdora. They stopped production at El Limon and local production from unauthorised miners was switched to El Bagre. The new management reckoned that the El Limon mine was inefficient and needed a new winch, new shaft and new access.
The most recent statement on El Limon was that they would bring it back into production in Q1 23. I have not seen anything really recent that updates that statement. They had a strike recently and that may have slowed things down a little bit. Soma are on Twitter, it is worth following them on there.
https://twitter.com/SomaGoldCorp/status/1526507849966297088?s=20&t=gqvEeAx9O7gRL0N1bNcsLA
From May 2022
As I said, I think that they need to bring El Bagre up to full production before restarting El Limon but there is plenty of gold at El Limon and close to it.
DYOR
Wasn't there a privious mention about income from the processesing facility due to rrr for gold. helpful could you tell me if this is so.
specinvestor99
Your claims on salaries are as wide of the mark as AB's delivery of shareholder value - maybe a new CEO would cost a fraction more but if that person delivers value then it would be worth every penny.
A simple search on Google
A person working as a Train Driver in United States typically earns around 33,100 USD per year. Salaries range from 17,200 USD (lowest) to 50,700 USD (highest). This is the average yearly salary including housing, transport, and other benefits.
Garbage collector salary The average salary for a garbage collector in the United States is around $38,500 per year. Avg Salary Show avg hourly wage $24.9k Bottom 20% $38.5k Median $62.3k Top 20% Garbage collectors earn an average yearly salary of $38,500
Helpful - There's no bigger idiot than you. I don't know how someone manages to get themselves involved with so many duds. And then you feel the need to be confrontational to try and "protect" your investments. People on every board you post have worked you out. Over 10,000 posts and for what? Of course we all know why you spam the board with pointless links and spot price updates - it's to bury all the *******s predictions you make, all the drivel you write to try and pump your offside positions, all the pie in the sky statements laid out as facts.
How long will you keep letting yourself get passed around all the worst CEO's on AIM?
"juicy salary" LOL lots to complain about RRR/AB but really-garbage collectors in NYC make more money. Plus the average compensation for a train conductor in USA is $160,000 and the unions are not happy with the benefits so their might be a rail strike in the USA for better benefits/compensation
IMO a better CEO will cost more money and if change is made dont be surprised with a compensation package in excess of 300,000
AB is bullet proof until Congo is resolved either $ comes and if so then RRR could be takeover target or Congo money does not come in and 'major shareholders' would have enough--maybe Far easier for them to sell and move onto the next deal
The truth hurts Helpful - everyone on the BB has seen through your agenda - now why not discuss the upcoming funding?
Is Bell going to place the whole 250m shares he is requesting permission for (he has obviously been given the nod by the 'major shareholder group' so voting is a waste of time) or is he going to continue on a month-by-month basis in the hope some liquidity event may occur.
The situation at Red Rock is now so poor that even Bell's best chum Tom W has given up with the promote, it was over 2 years ago that Bell entered TW's Mineprophets forum promising riches from various projects - did anything come out of those claims - of course not !
Red Rock has only achieved a market valuation >£10m three times in 18 years, the remaining 15 years the market value has been majorly sub £5m - what a truly atrocious record.
Readers have to question why the gaggle of 'major shareholders' are so happy with the situation when every man and his dog knows the issue is Bell himself - the 'Bell discount' is widely discussed during investor events in the city. He speaks French they suggest !
Worried your expected bonanza riches from Elephant Oil may not occur Helpful, is that why you are irritable - maybe the US investors have decided the stock is too risky for them. Still no news.
As for Bell his skin is as thick as a Rhino, he has heard it all before, he blames his shareholders for buying at the wrong time, he ridicules them, he knows his position is secured so long as he keeps certain entities sweet, he is bullet proof, therein lies the problem when you buy Red Rock shares.
My position here is tiny, I call it as I see it, 2022 has been a total waste of space for RRR investors, 2023 will probably be the same.
Just in case anybody can't figure out what **** is its c__ u__n_t.
TDT
I'd rather be considered an idiot than a **** Helpful which is what, without any shadow of a doubt, you quite clearly are.
TDT
https://twitter.com/HedgehogTrader/status/1598392576788365331?t=WUcPfMnJNi4vIV9cXcONhg&s=19
https://twitter.com/Borg74/status/1598382359761784832?t=W518ZOHGiyoTXmgHMsicwg&s=19
Unfortunately, this board and most BBs are full of idiots.
I was asked a question and I responded. Hawaii you are included in the aforementioned.
Try reading what I wrote. There was no promote or ramp or anything. Since when is the phase, "but who knows?" rampy?
The $3mil royalty from Soma is a RRR asset; when will royalties resume? I don't know, I doubt that even Soma knows. Currently, they say production will restart Q1 23: will it happen? No idea.
Clear enough for you now?
DYOR
as i said two weeks ago....If you had invested £37,500 in this company 12 years ago your £37,500 would have lost £37,499.65....but you would still have your 35p....which is better than some of my 100% losses....lol.
When I last spoke with Andrew Ronald McMillan Bell.....he said he felt it was difficult to make shareholders turn a profit due to capital market conditions!
He doesn't personally seem to have suffered much, however.....and I'm glad I hadn't put all my eggs in the one basket....but I did lose tens of thousands here...and RGM (sister co.)..
Hawaii conman comes to mind don't you think. Oh and wipeout is nearer 99%.
It shows how pathetic the situation is here when Helpful starts promoting Soma Gold - then suggests they will not bring back the El Limon mine (small royalties for RRR) anytime soon.
In the meantime the only matter outstanding is the upcoming fund raise, now Helpful why not speculate on that, will it be the full 250m shares Bell is asking for permission to issue or a fraction of that number and at what price?
Helpful will probably not comment because he is more than likely inside.
So far
No movement on the Kenyan Gold licences (JV or sale was suggested by Bell)
No money from the Congo (despite Bell being in country for nearly 2 months)
No Elephant Oil listing
No new IPO's (suggested by Bell in Q1)
Nothing occurring at New Ballarat Gold which was supposed to have been listed by Q4 last year.
No seed capital raised for the new 'projects' (Bell said he was going to get cash for one in his last interview)
Hardly any meaningful news this year (Bell said there would be so much news he would struggle to write it)
No movement on the Lithium project (Bell said news would be forthcoming in Q3)
It goes on, etc etc.
Bell continues to Tweet at all times of the day and night - various topics in ever eccentric fashion, it suggests he has nothing to do except draw a juicy salary and raise further cash to continue that process - do not forget Scotty boy is on £45k a year also.
The share price is in the gutter, nearly every Red Rock historic investor has been wiped out - some with losses north of 90%, but never mind - the gaggle of 'major shareholders' support everything Mr Bell does - one wonders why?
It will not be a Happy Christmas for Red Rock shareholders, is it ever though !
Soma have said that they will bring El Limon back online Q1 but who knows? Unless El Bagre is at full capacity, I can't see them bringing El Limon online. Having said that, the new management do seem to know what they are doing.
DYOR
patrick I would like to know when are we going to get large amounts of income from El Limon.
morning helpful. Soma gold lead. Colombian mine at El Limon in Antioquia.
could we start to see income after covid etc now?
https://www.newswire.ca/news-releases/soma-gold-releases-2022-q3-results-859116238.html
Given the announcement of more shares being issued I am surprised to see share price is up a bit today
Bell is seeking authority to issue up-to 250m shares, he may not issue that number but if the motion is approved (as it will be because there is no way of outvoting the 'supportive' major shareholder entities) then he can issue as often as he desires without a further GM.
You have to search hard to find the voting form on the website - here is the link
https://www.rrrplc.com/wp-content/uploads/2022/11/264796-Red-Rock-Proxy-PROOF.pdf
My bet is the shareholder group (of which Helpful is one) will take part in the fundraise and they will also try and keep the dilution to a minimum pending the outcome concerning the Congo cash situation (or Elephant Oil)
I dam well hope Bell is not being allowed to acquire yet another 'must have' project, oh by the way, Bell was supposed to be seeking seed capital for another project in his recent excursion to Africa - one assumes this failed, if the money had been raised, he would have rushed out a RNS for certain.
It's never a good idea to be optimistic when Bell is involved.
TDT
Just giving the very over optimistic case TDT!
KimiR
You're expect a placing at 0.375p? That seems a bit rich given the current share price. If they do manage to get it away at that level I'd expect a whole load of warrants to be attached.
TDT