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This is his son.
https://www.elementalaltus.com/about/our-team/
Thanks
The house of cards is falling ?
AB not able to get any money out from Congo. It's a black hole
Hawai5o - a debt issued by his family raises more questions . I hope you are joking !
- is there not a duty to disclose a relatew d party.
- any winding up of the company debt holders have a first call on assets. Is this the bail out plan for when the fat lady sings ?
Congo is more binary than Greenland and Mt Ida which were spun out for years. If we've heard nothing on Congo by new year it's a dud.
".... Bell's ability to dilute at will has diminished to the point where he now needs major shareholder permission....."
Permission that comes with a generous coupon, warrants and insider knowledge. Yeah, tough choice that .
TDT
It looks like Bell is juggling balls financially until either the Elephant Oil listing or a significant remittance comes from the Congo, it is also clear (IMO) that he is working with the major shareholders who do not want their stakes diluted.
Detractors of RRR seem to forget that since last years AGM Bell's ability to dilute at will has diminished to the point where he now needs major shareholder permission, the loan note terms seem to suggest the major shareholders see significant value ahead, there are a number of events that could deliver very meaningful value as we know.
It is also interesting to note that the recent debt facility provided to Red Rock was by a company run by a certain R E Bell, a member of AB's family ?
https://find-and-update.company-information.service.gov.uk/company/09963302/officers
Spec investor - I won't say that but as many know this is AB run - nothing simple or straightforward.
The double edged sword is he will fund raise off even a modest SP rise at a discount to " high worth " individuals which will dilute any gains of long suffering holders.
Less a case of soon Rodney soon" . More heads you lose tails you lose.
What's going on? Its been several weeks since the RNS said arbitration was over. Several days since AB said the decision was made but AB had not read/received it.
Please dont say "soon Rodney soon"
https://twitter.com/benchmarkmin/status/1563809009240506368?t=pf8kmo6kges8_Z0ms7VY5w&s=19
This will be back over 2p very soon.
DRC award, Elephants oil listing, BG listing , new Congo license
Only takes one or two assets to turn around a penny aim stock. And for all his past mistakes AB found one.
After DRC Arbitration result is made public, hopefully very soon, he will then go after Glencore for even larger sums of compensation
The question marks at the bottom were meant to be happy looking smiley's. Obviously no happy smiley's showed. :(
In two RNSes last year one said RRR had £2.72 million in Jupiter mine shares and another said they had £900,000 in Power metal shares. We knew the Jupiter shares were sold and it's highly likely the Power metal shares were also sold.
In this latest fundraise there was mention of a debt facility. Looking at the 36 page PDF on companies house website RRR a couple of months ago took out a new £1 million debt facility with a company i've never heard of called Prime resources limited.
https://find-and-update.company-information.service.gov.uk/company/05225394/filing-history
So just like previous years Andrew has been absolutely motoring through the money. So if some money does come Red Rock's way then that should make Andrew VERY happy. ?????
"Les Hommes qui bougent" is that a fair translation for wriggly people in this context. Happy to help translate if required. I do have a CSE grade 4 in it from a long time ago.
Considering AB has managed to blow some £30m of shareholders money on absolutely zilch in 10+ years, I’m not expecting 7.5m to go a long way IF, and it’s a big IF for a reason, it ever ends up in our (Bell’s) pockets.
We await an RNS, as ever from these ‘wriggly people’, or is that still being translated Helpful?
It seems Red Rock has received a favourable arbitration judgement verbally, one would suggest from yesterdays interview that Red Rock seem pretty confident in receiving $7.5m as a minimum from the para state company who have the ability to pay.
I personally believe the reason for the quite aggressive buying is some may have more info/confidence than what has been said by AB last evening, clearly there are insiders as well as entities close to the company. A update seems pretty close.
This is word for word in answer to the 1st question on the matter....
"The arbitration hearings have been completed, we have had indicated to us (Red Rock) what the decision is, we have not seen it in writing and of course those that lost have been offering inducements to change things but I (Andrew Bell) don't think that is going to work. We will be able to say something quite shortly"
In answering another question concerning the matter Andrew Bell says...
"I think $7.5m is what we should be able to rely on"
https://www.youtube.com/watch?v=a-fMzWeXYOs&t=1297s&ab_channel=StockBox (from 20 mins in)
I hit a nerve. You don't like reality checks DYOR. Listen to the interview and read the RNS
Spec, 100%
These people just whinge and never do any reading or research. One of the earlier posts was quite clearly posted by someone who had not watched the interview. How can someone post negative comments about an interview that they have not watched?
share price is heading north. that must be helpful.... Rodney not long now!
You really need to learn to read comments properly before spewing your usual garbage. Where did I mention AB saying something about an award. If you could actually read then you would have read "whip up retail to speculate on ..."
You being case in point Spec (resident fool)
fact check during the interview AB did NOT say or hint that the award had been made. AB was very careful about his words.
I am beginning to believe that peoples complaints about AB are based not about what he actually says but what other people say AB says. BIG DIFFERENCE. read the DNS and actually listen to the interviews DO NOT RELY ON WHAT SOMEONE ELSE'S INTERPRETATION.
RKH is a prime example of how to communicate with their shareholders on arbitration proceedings. No bull**** paid-for interviews or personal tweets hinting at this or that which only serves to whip up retail to speculate on press conferences, judgement, timings, awards etc. Just plain old facts released when appropriate.
The funds are with Gécamines which is a state entity.
Once the order comes through the payment will be pretty straightforward
Kurt - I would just be very careful.
Panda is right on DRC payment will probably be through courts eschew account rather than direct. Big risk its a black hole. Hope I'm wrong.
As Darion says AB has a duty to SHs to keep notifications formal. Looks like an engineered spike off the back of a transaction that is still uncertain.
AB must get one right sometime hope for you guys this is the one.
Nice try Panda, Once the ruling is in writing then they get the funds from Gécamines who are waiting for instructions on who gets the $15m
I watched the interview and didn't get the impression Mr Bell knew the outcome of the arbitration and is still waiting for the court's decision. He seems to have given up hope of collecting anything directly from VUP via the initial court ruling and is relying on Gekamines to be willing to pay up. I'm expecting the verdict to be positive but I still think it will be very difficult to collect any of the funds in DRC and could take years as there will end up being plenty more hoops to jump through