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Spec
Bell himself said last week he expects to receive some near term cash from the Congo, he would not say that without reasonable ground of success, what I cannot understand is Bell's obsession for more ground instead of full cash, cash is king on AIM, what a different proposition RRR would be with a immediate injection of £7m-£10m into the company.
As News has said I suspect the major shareholders are more aware of the position than others, the fact they have supported Bell (despite being heavily down financially) implies they know good things are just around the corner.
Worth recalling the last para from the FY report.....
'We expect investors to be materially rewarded for their support over the course of 2022'
medium and long term I am optimistic about what will happen.
short term concerns- the Para State company was involved in this 'packing' scheme whereby they bought a property for $20 million and then sold it for $250 m I dont think they will quickly pay the balance of the $15 million of cash they have already received without a resolution on the $250 million They did that deal to get cash for themselves I think Bell recognizes that which is why is he will to take a property interest of some sort. Something the Para State company has to offer Longwinded way of saying RRR is not going to get 51% of $250 million
Regardless of the outcome the end result for RRR shareholders should be very rewarding
IMO This is a gamechanger
HawaiiFiveO
CONGO-MUSONOI, KOLWEZI, DRC COPPER AND COPPER PROJECT [US$125 BN VALUE IN GROUND]:
Yes, I agree that the immediate cash to UNLOCK is from the Conga as you said relating to $5m+$15m [$7.5m to RRR in cash/part cash or new licences [17:07, Sun, 1 May 2022]
Yes, I did hear that Andrew Bell will fly to the Congo to get this settle and they want to know who to pay [$15m element of which RRR has 50.1%]. From the Annual Report of 30.12.21 which I have gone over the 2nd time, it does state that it was "PENDING LEGAL CLARIFICATION which we have provided." Yes, no co/entity will pay out unless legal clarification shown and also to sign receipt documents etc otherwise they could be paying the wrong amount etc. All norm.
-------OK, $7.5 Million = £5.9 Million [FX £1=US$1.26]----vs RRR Mkt Cap £4.2m @0.35p-----
ELEPHANT OIL IPO
From the said RRR Annual Report 30.12.21, RRR had UNDER 400,000 Elephant Oil shares having paid $2.25. AR also stated: " Elephant Oil filed Form S1 with NASDAQ as part of the final preparation for listing." In this latest Fri, 29.4.22 interview, A.B told Proactive that they need to remove one shareholder. From Heid_oil's link to the interview from A.B some time ago, one poster on Twitter said that the market cap was $20m [USD] and the issue price was $4.25. Nasdaq has a minimum price at $4 from recall. If successful, I think $2m could be
coming RRR's way if they sell the shares. I read it somewhere but I have to look for my notes again if this is correct.
INTERIM RESULTS, 29.4.22
I wont go into detail but institutions lent RRR £989k [short term] and there are borrowing of £1.25 Million vs cash £182k and Loans and other RECEIVABLES £508k.
So, we have to bear this in mind if there is the LIQUIDITY EVENT from the Congo shortly or when they pay.
{}CONGO-MUSONOI{}
There is the NEXT LITIGATION OUTSIDE CONGO "FIT FOR US$250 MILLION."-A.Bell, 29.4.22
Interview with Proactive Investors [Irons in Fire]. I have already covered this today.
-So, this potential Tier 1 asset could be positive if RRR is able to get this via litigation "outside Congo." This may take a little time to file etc. TIMEFRAME: ?
[] WHAT ELSE? RRR TO DO A 9 BAGGER PER YOUR QUESTION TO ME.
You asked me a SPECIFIC QUESTION OF XTR GOING FROM 1P TO 9P WHICH IS A 9 BAGGER.
At 0.35p , MKT CAP £4.2M , A 9 BAGGER WOULD BE £ 3 7 . 8 MILLION MKT CAP which is reasonable as it is not exactly so huge that it is out of reach.
[] RRR £37.8 MILLION MKT CAP [9 BAGGER FROM TODAY'S £4.2M MKT CAP]
--------********N E E D S TO S E L L SOMETHING BIG.***********----------
[] I HAVE BEEN LOOKING AT WHAT RRR CAN SELL.
I may have found the answer.
Will have dinner first before I embark typing from notes I did 10 mins ago to complete my research.
Sun, 1 May 2022
News.
News
For me and most other shareholders the only thing that matters is receiving material cash from the Congo in the near term, this would eliminate the need for equity placement, ask, why did the major shareholders block RRR issuing shares at the 2021 AGM but allow the motion to pass this year? The answer to that is, IMO, they are aware that RRR are not going to issue shares because of the Congo cash and Elephant Oil liquidity events.
The most interesting aspect about the Congo is, during a Stockbox interview soon after the RNS concerning the underhand activity of the JV partner, Andrew Bell said that RRR via the court had the bank account of the buyer frozen, one assumes this is the account containing the $15m remaining to be paid of which RRR is due $7.5m, that to me is material, in last weeks interview Bell said the buyer has the cash sitting there but wants confirmation about who to pay.
I therefore conclude that Red Rock will receive at least $7.5m either in cash, part cash/new licences from the buyer AND pursue the other $2.5m + $2m costs from the JV partner who took the buyers money in the 1st instance.
So there are TWO routes to receiving material cash, the JV partner $4.5m and the buyer who hold $15m to disperse. That to me is VERY material and no wonder Bell is going to the Congo to get this sorted.
As RRR has been neglected by the market these matters are hardly known by many and therefore (IMO) the company is badly mispriced and represents a amazing opportunity, it is interesting you (News) have appeared right when things could hot up.
because I had to catch the price of RRR at 0.35p+. I tend to scale in so thankfully, I got my first lot BEFORE A.BELL'S INTERVIEW OF FRI, 29.4.22 ie wherein he gave very direct answers and UPDATES especially on the sum of the potential claim of US$250m. I ONLY HAVE A MODEST SUM INVESTED IN RRR. No, I dont want big risk. It will take a bit of time as A.B said in his interview as to the litigation etc.
A.B INTERVIEW, 29.4.22
---------------"OFFER FOR OUR ASSETS."-----------
Intriguing. Have to wait what happens NEXT OR NOT or whether the offer is firm which means it has to be RNS'ed. What assets [plural]? I dont know nor have any idea as to which group of assets?
RESEARCH NOT FINISHED YET
So, I have not yet made up my mind about possible other Tier 1 in RRR's portfolio.
However, bear in mind that these projects of RRR's are usually JV's so not 100% owned.
RRR is NOT a junior pure exploration play so at some point, they have to FARM OUT or SELL etc. Herein, the outcome is REASONABLE in terms of $$$.
Big Tier 1's require HUGE CAPEX, hence why RRR cant take it on, solely on their own even if they do find something worthwhile.
Hope I have answered everything. In the end, one could have the best CEO but NO TIER 1 OR BIG ASSET IS STILL of no use. Look at what PJ said in his interview yesterday. PJ' s co is POW [RRR has shares in POW of 25m out of the original 45m] - it was called African Battery Minerals and it had to seek clarification with the Stock Exchange = bankrupt. So, PJ took the co over with cash injection of £1m [think it was a raise but not sure as I was not in at the time]. PJ said that African Battery Minerals had NO INVESTOR INTEREST. Before then, I think it was called Sula. Sula was in mineral sands. I recall someone posted this on the forum I was at and I had a look and said nah, its not Tier 1.
Tier 1 are now hard to find per the stats so I have had to LOWER MY AIMS to near Tier 1.
However, the capex can also be a moot point so I dont stay in when the big capex needs to be raised as it takes too long to wait given I am not 18.
So, a long thesis but I hope I have given folks some idea of what one has to look for.
Its like buying a derelict house in Notting Hill, London and doing it up or like someone recently posted that Andrew Bell bought some pieces of land in Oz and it turned out £11m and £19 in royalties referring to JUPITER MINES. I think that ~Jupiter Mines was also not only the pieces of Oz land but A.B got the ex-CEO of BHP to inject his manganese project into Jupiter which is world class. As AB said in an interview, Jupiter paid out its profits in dividends and was a "PRINTING MACHINE". So, they did not invest in Mt Ida at the time.
CAN A.B STRIKE THE 3RD TIME AFTER J U P I T E R [1P to 20p per First Equity] or
M U S O N O I [2nd time]????
Ah, that is for you to determine after reading the info/research thus far. I have to think further on it and given I am only more used to
Can a FT100 co on the London Stock Exchange hold on to an asset unless they have CLEAR UNDISPUTED TITLE?
So, herein, its a positive that RRR's 50.1% asset at Musonoi at with a INTERNATIONAL LISTED CO [$12.8bn mkt cap in local money]. I dont know where the case will be heard outside the Congo. Greek Hovel on the other forum years ago said it goes BONO ie big sums involved. Probably, it may be financed by specialist firms - just got to wait to see.
LITIGATION
Takes time and not 100% guaranteed as norm. So, this MUSONI asset is definately a TIER 1 or soft Tier 1.
So, I have found what I was looking for.
So, if there is a litigation win against this international co, even 1/2 of US$250 million is meaningful. US$250 - 1/2 =US$125m [FX 1.26] =£ 9 9 . 2 Million. Maybe, NET may be less for the lawyers cut of the win V E R S U S £ 4 . 2 MILLION RRR MKT CAP.
Say, take £70M = 16.6 TIMES [£70m divided by £4.2m].
--------------------HAWAIIFIVEO- YOUR ANSWER: 16.6 TIMES.---------------
Your question: Can it be like XTR from 1p to 9p = 9 TIMES.
CAVEATS APPLY given it is litigation as norm. But yes, A.BELL SAID HE GOT MUSONOI WHEN NO ONE WAS INTERESTED IN DRC [listened to his interview with Proactive at the time of the original JV and he mentioned £30-£70 Million [remember prices of copper/cobalt different then]. So, yes, MUSONOI COULD HAVE CHANGED RRR'S FORTUNES.
---I AM UNCLEAR WHETHER THE CLAIM OF US$250M IS RRR'S OR ONLY 50.1% SHARE?------
OTHERS WILL HAVE TO ASK A.B. Usually, claims are settled at 1/2 like ENRC but not guaranteed its always 1/2 but practice only appears so.
---FIRST EQUITY BROKER NOTE ON RRR -SEP 2021---
They said that RRR WENT FROM 1P TO 20P on the Jupiter Mines event.
Jupiter Mines mkt cap is currently A$470m although the high was double. So, any co that can have a A$1bn approx mkt cap in its history has to have a BIG ASSET in it ie usually Tier 1.
PAUL JOHNSON
He was in RRR at the time but he bought at 2p and sold at 17p.
A poster on the other RRR forum said that PJ made his fortune at RRR wherein it is thought he made £750k to £1m "when was buying heavily in 2010." This poster gave a link to PJ's posts at the time. PJ mentioned before in an interview that he started with very little money ie £7,500 from recall. However, PJ's inteview with Stockbox Media yesterday about commodity cycle said he had very little capital when he started. So, yeah, a big project can be game changing if everything turns out right. So, RRR DID HIT TIER 1'S IN THE PAST at JUPITER MINES AND MUSONOI, DRC [50/1% JV]. Today, DRC is in a different place wherein more majors are looking at this country as the grades in Kolwezi are good.
ANY OTHER TIER 1'S IN RRR PORTFOLIO?
TO FIND OUT, GO TO LONDON SOUTH EAST RRR.PLC. Yesterday, I posted some base notes so that I can also check further when I have time. I typed them from the notes I have at the moment. I am taking a rest. I had to RUSH to do the research in 2
"O F F E R F O R OUR A S S E T S."- Andrew Bell, CEO, Fri, 29 Apr 2022 Interview to Katie Pilbeam , Proactive Investors in reply to her Q about funds going forward.
???? OFFER FOR OUR ASSETS [PLURAL]???
Mr Bell did NOT elucidate what A S S E T S [plural]. Of course,he is not allowed to elucidate in an interview as that has to come via RNS. So, has he been offered? Is he accepting as it looks as if by mentioning it, he may be amenable? Dont know as one has to wait until more light via RNS.
Mr Bell was very forthcoming in this said interview and very direct. All these moves he mentioned means RRR is being tidied up ie restructuring taking place ie sale, money back from Congo relating to the 2 cases won in the Congo Courts of $20m [$5m+$10m -RRR has 50.1%?]. NOT CLEAR HOW A.B COULD GET EQUAL LICENCES OR SPLIT PROPERTIES AS HE SAID when he goes to the Congo to meet govt officials presumably. If he can it would be marvellous.
TIER 1'S I AM LOOKING FOR IN RRR PORTFOLIO
So, definately, MUSONOI, DRC [copper and cobalt] is a TIER 1. Why? On the RRR website on https://www.rrrplc.com/projects-and-investment/copper-cobalt/vup-copper-cobalt-jv/ , it stated that RRR's Consultant Geo's stated that MUSONOI, DRC [50.1% JV] "IN-SITU VALUE IN THE GROUND IS US$1 2 5 BILLION."
A.B said that litigation OUTSIDE THE CONGO [Fri, 29.4.22 interview] is "FIT FOR US$250 MILLION." [$250m vs $125 Billion value in the ground]. Isnt US$125 Bn value in the ground Tier 1 territory or soft Tier 1 at worst? Few co's have value in the ground of $125 Billion.
Hence, I posted more on Musonoi and the fact that it is IN KOLWEZI district where KAMOA-KAKULA [Robert Friedland fame @Ivanhoe] sits on the way to Kolwezi airport. RRR's JV Musonoi per the link I gave sits near all big/bigger deposits. Any wonder why an INTERNATION CO with a mkt cap of $12.8 bn now has the deposit?
This co has already BEGUN CONSTRUCTION IN 2020 [see my posts on this forum] and late last year, they applied for a US$350m loan to start ops.
What are the chances of success given this litigation will NOT be against the state co /govt but rather a LARGE LISTED CO? The only precedent I can find at the moment is ENRC and almost the same thing happened. Within less than 2 years, First Quantum took international arbitration in Washington and Paris + private litigation against ENRC and in the end they settled for US$1.25 million although the claim was for almost DOUBLE. However, First Quantum got their DRC licences/mine taken due to some "code violations" and then sold on by a businessman to ENRC, a FT 100 listed co then. Maybe, it had to go to international arbitration because it also involved the element of code violations which First Quantum denied they did. First Quantum LOST their court case in Congo [RRR WON 2 CASES IN CONGO and has NO VIOLATIONS as far as the info goes]. So, for RRR, maybe, its only private litigation.
First Quantum also wrote to the FCA about ENRC a
HOW MUCH ARE ALL THESE ASSETS/LICENCES WORTH AT RRR?
One has to look at the last Annual Report of 31 Dec 2021 and the INTERIMS just released on Fri, 29 Apr 2022.
So, looking at BOOK VALUE OF THE EXPLORATION ASSETS ETC. I recall that the MUSONOI, DRC [Congo] 50.1% JV is on the books for £590,000 per A.Bell in one interview from recall?
I have not read the last 10 Annual Reports and more to find out how this came about ie appears to have an IMPAIRMENT write down already, so any win is nice. The A.B interview with Proactive Investors on 29.4.22 refers per your link [Iron in the fire title].
WHAT DO I LOOK FOR?
I am ONLY INTERESTED IN TIER 1's or if that cant be achieved given it is not easy to find Tier 1's these days, then a marginal Tier 2 or what Lawerence Read calls a SOFT TIER 1. RRR mentions that near MIGORI, KENYA SITS BARRICK MINES GOLD DEPOSIT/MINE, A TIER 1 [10moz]. Migori has a JORC of 723,000 moz gold. Sometimes, there is a possibility that with further drilling there could be more. I found out that the exploration target is "1-2 moz gold" but the POTENTIAL IS "3-4 MOZ" [Ref: Mining Maven, 22 Sep 2021]. Personally, I am not interested in this project as it is NOT potential 10moz and beyond. Majors per Gervaise Heddle are interested in projects with potential of 10-20 moz gold. However, if gold were to rise very sharply, then maybe, a mid-tier could be interested. Nor surprising that A.Bell said in his interview that EITHER they drill as they have taken it so far ie JORC or JV. So, Bell is looking for a JV, which I agree in that let someone else take the drilling on.
-I GO THROUGH PROJECT BY PROJECT TO FIND A POSSIBLE TIER 1 IN RRR'S PORTFOLIO-
The Annual Report, 31.12.21 and Interims just out of 29.4.22 is helpful to see how much
are the ASSETS/EXPLORATION WORTH IN THE BOOKS minus the debt =NET ASSETS.
RRR sp - 0.35p = MARKET CAP £4.2M.
From a quick look at the above figures, it does NOT give a BREAKDOWN but suffice to say that from the said accounts, net assets are more than £4.2m.
RE-STRUCTURING
On another RRR forum, I felt that RRR had to RE-STRUCTURE. So, A.Bell was clear in his
latest said interview on Fri, 29.4.22 that all the major assets or near major are progressing to
a defintive ie DOING SOMETHING ABOUT THEM AND THEIR STATUS - EXTRACT VALUE.
KATIE PILBEAM -PROACTIVE INVESTORS, 29.4.22
She asked Mr Bell, so how are you going to fund all this? A.B 's reply:
"FUNDING:
[1] MONEY BACK FROM THE CONGO. He is flying out as your notes kindly elucidates relating to this and outside litigation.
[2] Always something we could sell. It seems that big shareholders dont want the normal raise method which is sensible given the low mkt cap. A.B is also aware of this given he said during the Congo JV time [Musonoi] that £30-£70m would mean that there is more leeway rather than at low mkt caps [interview going back to the original time of JV at Musonoi, DRC].
[3] "O F F E R F O R O U R A S
HawaiifiveO
A very good memory - time correct, price etc.
ANSWER:
Do I see a similar rise here on RRR as on the stock you mentioned ie from 1-9p?
One has to look at MKT CAP which is important. At the time, that stoc;k was on its lowest sp.
Therefore, the MKT CAP was in shell territory which for me is <£8m in general. The co had to do a raise to drill Bushrangers in Oz, a NEW PROJECT. The info/RESEARCH posted gave an idea whether the DEEPER drill would succeed or not given it was near Newcrest's Cadia-Ridgeway, one of the largest gold mines in Australia.
Nearology alone is NOT sufficient as all anomalies have to be DRILLED before one can prove it is mineralised etc. From research, I found out what the previous owners said ie Straits, Tooday, Anglo-American. So why did not want to drill deeper? Its about money given it cost time and money to drill and these co's have lots of projects on the go. AA retained an option on the prospect so that was interesting and the fact that it had a modest JORC already. So, drilling deeper given the Cadia-Ridgeway goes down deeper - Bushranger is of the same age and the fluid obviously flowed down [JORC proved that there was mineralisation up to 300m] , the chance of success was left up to the reader. EVERYONE HAD A CHANCE TO GET IN THE SAME TIME AS MYSELF AT 1P. No one was interested as you said so the TIME LAG meant there was a WINDOW open at 1p [up and down by fractions but around this price]. Legacy holders did not bother as they were on about the other African projects. So, depending on how much info one has via research, it gives one a chance to think whether the chances are 50-50. Anyone buying has to make up THEIR OWN MINDS what the chances were. If folks bought a modest amount, then it does not matter if they can spare £50-£100 [invest only what one can afford to lose is the rule].
DO I SEE A SIMILAR RISE HERE AT RRR?
RRR is a very different co to other junior miners in that it mimics an investment vehicle.
It has mark-to-market shares to sell eg POW shares, coming IPO's over time if they get listed, royalty from Mt Ida [I checked the Annual Report of 31 Dec 2021] as and when, royalty from El Limon, application for NEW LICENCES in Bukina Faso and Cote d'Ivore possibly for gold, 2 projects in DRC [Congo] of which RRR has further drilled 1. Then, there is ZIMBABWE LITHIUM licences of which is near BIKITA MINE and the other NEAR ACADIA [sold to the Chinese for US$422m recently]. Mr Bird of XTR has also gone into Zimbabwe to get licences near Bikita mine with a partner. However, no one has managed from what I know to get licences near ACADIA. So, A.B said he is looking for partners and he will release results of sampling etc when the licences come through. He said it is being processed manually so it takes time.
RRR also have shares in JUNO, ASX listed.
Then, there is the 2 cases in CONGO already won with futher litigation OUTSIDE the CONGO against possibly the INTERNATIONAL CO f
Recent interview link
https://www.youtube.com/watch?v=vRBQXGl2Kvs&ab_channel=Proactive
News
I seem to recall you posting a stream of information on the XTR thread in late 2020 when the share price was around 1p - a month or so later the shares hit 9p.
At that time no-one was interested in XTR a bit like RRR now, your information and research seems very precise, do you see a similar % rise here?
I thought the recent interview with Andrew Bell was more detailed than ever before, the fact he is going to the Congo to sort out the litigation shortly seems very positive - he seems very upbeat in collecting cash which could amount to circa $13m for Red Rock or a % of cash & new licences to compensate.
Some quotes of interest...
'the litigation in Congo was essential to progress'
'initial $20m sum involved (of which RRR is entitled to 50.1%)
'the project was the flipped for $250m, we consider a large part of that value belongs to us'
'we will address the $250m outside the Congo later'
'we have won all cases in the Congo'
'50.1% of $5m + $2m in damages due to RRR ($4.5m)
'another $15m being held by buyer until they know who to pay'
Bell also clarifies Elephant Oil, places a value of $2m & possibly more in after market - discusses IPO of gold project in Australia - lots of news due.
Link: https://twitter.com/StockBoxMedia/status/1520357413844623361 Sat, 30.4.22
Interview with Paul Johnson which I have just listened to.
From the man himself so that one can hear from his own words.
Highlights:
PAUL JOHNSON: " 2008-2011 personal - 200X"
[200 hundred times]. All junior co's rise, some to stratosphere.
Cyclical MELT up.
Cycles-fade.
Can go from 1p-50p, then 7-8 years later, down to 2p. [My comment: Solg 1p-45p+, Sirius Min 1-40p+, GGP 1.3p -43p+ examples I have seen]
PJ STARTED IN 2008 - NO CAPITAL, A FEW THOUSAND. Invested in fintech, bio but mainly junior mining/mining stocks.
---AFTER PJ MADE THE MONEY, HE WENT INTO ABM ie African Battery Metals.
Co went into clarification = bankrupt due to lack of interest. When commodities are HOT, hard to buy and when NOT hot, can buy at reasonable prices SIMILAR TO LAND GRAB. Co started with £1m. LOOK FOR DISCOVERIES, EARNINGS, JV, SPIN OUT, CRYSTALISE...
HIS METHOD:
SEE WHAT PEOPLE SAY. KNOWLEDGE, EXPERIENCE. Pick ....co etc.
Comment:
I listened as PJ & RRR are JV PARTNERS IN BALLARAT, VICTORIA GOLD, OZ IPO potentially.
Whilst in this interview, PJ does NOT say how much his capital was when he started out, he did reveal in much earlier interviews [1 only]. PJ does not say which co he made his 1st fortue which he described today as "HIS LIFE CHANGED FROM BACK THEN" [Episode 162 Stockbox today, 30.4.22]. Only on ADVFN RRR did one poster tell which was the STOCK and even gave a LINK TO PJ's POSTING HISTORY ON RRR. I read all 45 pages of PJ's posts ONLY ON RRR. LoL , now I know. What I did NOT know was he made 200X his capital during this short period.
It does co-incide with the RRR TIME WHEN IT WENT FROM 1P -20P [PJ BOUGHT 2P AND SOLD AT 17P per the other forum poster who must have been there at the time].
So, RRR did have its day in the sun and as AB said MUSONOI, KOLWEZI district, DRC [interview at the time of the JV], DRC it was £30-£70m and I think he knew the potential then. ROBERT FRIEDLAND MADE HIS 3RD FORTUNE AT KAMOA-KAKULA, DRC [KOLWEZI district].
1st fortune, nickel , then Oyu Tolgoi, copper, Mongolia and then Kamoa-Kakula.
So, for any stock, there can be TIMING and if entered at the wrong time, WRONG CYCLE of a downturn as PJ said, then no.
Enjoy the interview as I did enjoy listening to PJ. Got to run so sorry for errors, typos etc. Please check as there can always be errors when one is rushing.
Sat, 30 Apr 2022.
Error occurred.
PJ said in an interview he had about £7,500 capital only from recall. He used to post on forums just like any ordinary pi. However, he is an accountant and worked as a loss-adjuster for an insurance firm. On Twitter, in recent days, he says its hard when one has limited capital.
So, this shows that from £7,500, he gathered a base capital when he landed on RRR at 2p which had DOUBLED from 1p. PJ said in another interview that he tends to have a max of 9x and that's it. So, he missed out on further rises in the co he restructed at GGP later.
Jupiter Mines on the ASX has a mkt cap of around A$470m @24 Australian cents. From Google Finance , Jupiter s/p was 42c on 20 Sep 2019 which means the mkt cap was A$1bn region +-. A $1bn mkt cap is a unicorn cap so the assets would have to be in Tier 1 range.
ANDREW BELL INTERVIEW WITH PROACTIVE-TIME OF THE JV AT MUSONOI, DRC
Even then, he knew the potential of Musonoi and he said that at a mkt cap of £30-£70m,
rising is not as ....opposed to low market cap.
In recent days, RRR on Twitter tracked their share price and A.B is cognisant that the placings started the slide. In part, the bear market in commodities did not help. Hence, why no one wanted the Musonoi project given it was in the DRC, not a popular location then. Given this is a 51% JV, the mkt cap would be MORE if owned 100%.
So, with RRR Consultant Geo's putting "IN-SITU VALUE IN THE GROUND AT US$250 B I L L I ON " from 83 holes assayed, 750 pages of reports + historical data, it is certainly in the Tier 1 range.
So, RRR DID STRIKE LIGHTNING TWICE ie Jupiter and potentially at MUSONOI. What went wrong then? Well, the assets got SOLD without their knowledge, hence the interview of Fri, 29.4.22 explains.
I was not here during that frenzied time when RRR went from 1p to 20p.
I am sure many made money and PJ made HIS FIRST FORTUNE AT RRR.
So, much so, PJ is now looking for his own Tier 1 range discoveries. Hard to find per statistics so bear that in mind. Solg went from 5p to 80p intra-day high in just one day at the Solomon Island venture. Then the major walked from the JV etc and it fell from the sky and my the grumbles at 1.5p placing. It turned out a happy story there had it not been lightning STRUCK TWICE.
So, I am sure PJ thinks A.B is the bees knees.
I tend to look at stocks that are at their lowest point in mkt cap and see if there are any assets of note potentially and how the co is going forward towards an EXIT STRATEGY with its assets.
Hopefully, the better market conditions in commodities will help RRR but as with everything, its always termed SPECULATION = GAMBLE. Just to make sure no one thinks otherwise.
As the FSA stated, only invest what one can afford to lose for AIM stocks. AIM stocks were meant to be for High Net Worth investors who use AIM in a small way to hedge their portfolios but really not suitable for pi's putting their eggs in on any meaningful way like Sirius Min
First Equity produced a broker note on RRR dated Sep 2021 from recall. They said RRR went from 1p to 20p at the time of the JUPITER MINES event. So that is 20x.
In recent days on the other RRR forum, a poster said that PJ bought into RRR at 2p and sold at 17p, making his FIRST fortune of some £900k-£1m. So that is 8x. Mind you, PJ said in an interview tha
The small cap sector is littered with success stories. In junior miners, say fo@1.r example, their market cap was £8m @1.5p placing for start of the Cascabel JV. Look at the mkt cap today in 3 digit millions.
Same for GGP - from 1.3p to 40p+, and over £1bn mkt cap. Currently, still 3 digit millions.
My, the daily noises about the CEO, co etc. Of course, both the co's found a TIER 1 ASSET which was rather rare.
Same said for the above 2 co's [different CEO's now] so it is about the ASSET/s rather than personalities. HISTORY NOW for the 2 above co's.
Yesterday, the No 1 top riser had a mkt cap of £3m and it rose over 2 days.
Same said about this co. Why the change? A new project ie gas in Australia and £3m placed with Australian brokers without to even dual-list. Imagine a raise of £3m vs £3m mkt cap!!!
I cant GUARANTEE but I am personally happy that A.Bell has grasped the mettle and starting to clear the decks. But each to their own choice and view.
Look at how Sirius Minerals have turned out. In the initial years, it went from 1p to 40p+.
Then, they could not raise the 2nd round for capex due to the volatile market conditions ie bonds. Nobody had much to say about the CEO ie negative and they thought it was a dead cert but the financing part of potash project in Yorkshire was the bug bear during volatile mkt conditions.
Look at FANG stocks in the USA. One earnings miss by a bit and the share falls drastically.
Ackman lost $400m in Netflix in recent days and was all over Twitter.
Let's see what history will say of RRR in the next time frame and hopefully the Congo trip by A.B will be successful to settle the 1st part of the $5m +$15m [51% to RRR?] and maybe even get the equal licences/split properties he is looking for? RRR's 51% of MUSONOI COPPER & COBALT, KOLWEZI district, DRC appears to be a TIER 1. However, others thought so as well LoL.
Big shareholders at RRR voted A.B in by a LANDSLIDE so they must know a bit more than us pi's? They may understand the situ better? I dont know but with every stock whether FT100 or otherwise, there is always RISK and there is NO riskless stock [singular].
Look at Lloyds Bank at 10p wherein the investment community said it was "uninvestable"
and today, the recovery.
I can only speak for myself and since I have only a modest sum into the stock, it is part of managed risk and it is at the end of the day about MKT CAP, ASSETS, EXIT EVENT/LIQUIDITY event EXECUTION.
Could have the best and most liked CEO but if the assets are not in the right place at the right time, then it is also hard to navigate.
News, Sat 30 Apr 2022.
All HISTORY now re: co's mentioned.
Watched the interview with AB and he seems very confident with all his projects. But he never achieves for us shareholders. No one is buying at this price so people also have no faith in AB. As I have said before I am 97% down here and I want things to come good so that I can get a few grand back. This man has been a disaster for me.
https://twitter.com/MikeMoo96073320/status/1520284055559880704?t=XYNbwKJz0-9bXc_2ZqjtbQ&s=19
A clearer story quoted verbatim:
" In 2009, DRC sized control of the KOLWEZI project from First Quantum citing code violations promoting First Quantum to launch IOC ARBITRATION against the state mining co, GECAMINES
in 2010. The project was SOLD to Dan Gertler, a mining entrepreneur who SOLD IT TO ENRC."
---
CHECKED KOLWEZI MINE, DRC
It is now owned 72% by ZIJIN.
Comment:
RRR won 2 cases in Congo already relating to the $20m.
RRR never violated any code etc.
Like First Quamtum, RRR per Andrew Bell today, Fri, 29 Apr 2022 said "FIT FOR $250 MILLION" relating to LITIGATION outside the CONGO relating to this INTERNATIONAL CO.
Typo: obtained, not obtain.
"First Quantum launches legal action over KOLWEZI project."-Mining Technology, 15 Sep 2010.
"Expropriation of its legal title to the Kolwezi, DRC project."
--
Note: From another article, "ENRC paid $175 million [£113 Million] for mining assets in DRC including a major stake in the KOLWEZI, DRC mine. First Quantum will launch its own legal action probably in the British Virgin Islands to seek DAMAGES OF $2.5 BILLION, estimate value of lost asset and money developing the Kowezi mine."
First Quantum wrote the FCA as ENRC was a big listed co in London. First Quantum did not win their case in DRC and so they launched INTERNATIONAL ARBITRATION IN WASHINGTON AND PARIS AND private litigation.
[2] "ENRC REACHES A $1.25 BILLION AGREEMENT WITH FIRST QUANTUM TO ACQUIRE KOLWEZI MINE AND SETTLE ALL LEGAL MATTERS."- 12 Jan 2012
Comment:
So, from 15 Sep 2010 to 12 Jan 2012 was not long before settlement.
First Quantum's case in Congo said the taking back of the mine etc was upheld.
I gather this was NOT against ENRC.
However, since ENRC obtain the Kolwezi mine, First Quantum sued ENRC.
ENRC was a FT100 co in London.
In the case of RRR, they won 2 cases already in the DRC.
The international co that Andrew Bell mentioned in his interview today, Fri, 29 Apr 2022 is an listed co on a stock exchange with a mkt cap of $12.8 BILLION in local money just as ENRC was listed as a public co.
Interesting. Kindly check if interested.
Wanted to find out if there were similar cases as RRR's MUSONOI, DRC litigation. DYOR.
LoL
Just read the Annual Report of this International co dated 28 Apr 2022.
This co is listed and hence it has to produce announcements to the Stock Exchange.
Its largest shareholder is a state owned co.
A/c to this said Annual Report issued yesterday, they LIST MUSONOI, DRC
as a "HIGH GRADE COPPER COBALT" deposit and they said they have obtained ALL GOVT APPROVALS -PERMITTING etc.
This international co which A.Bell mentioned today in his interview with Proactive,
is RANKED worldwide for its cobalt production and as far as I can see, they are ALL in the DRC.
Fitch has upgraded this co to BBB+.
Very interesting.
News, Fri, 29 Apr 2022.
specinvestor99 said yesterday about potential $$ from litigation.
Correction RRR gets 51%
MUSONOI, DRC COPPER [RRR 50.1%]
This INTERNATIONAL RESOURCE CO per African Intelligence, dated 22 Jan 2021 - "it has obtained a loan of $350 Million to develop MUSONOI MINE in DRC."
Part of the title is: "...GETS GREEN LIGHT FOR MUSONOI."
Africa Intelligence is a subscription site so just managed to see the part about $350 Million loan to develop the Musonoi copper cobalt mine in the DRC.
The mkt cap of this co is $12.86 Billion in local money.
Comment:
From what I know, there is NO WAY this international resource co CAN DEVELOP the Musonoi copper cobalt mine [construction started in 2020] IF there is INTERNATIONAL LITIGATION PENDING or lodge already by RRR. Why? No one can start developing a mine they DONT LEGALLY OWN given RRR had legal agreement for the Musonoi JV at 50.1% [operator].
Dont know if A.Bell has flown out to Congo relating to the $5m and $15m [Congo Courts] which was paid to the state co or he is already there.
Going to be exciting if he comes back with the MONEY [50.1% of $20m] and
if he can get EQUAL LICENCES/SPLIT PROPERTIES as possible settlement or will A.Bell go for international litigation OUTSIDE CONGO as he said today in the interview with Katie Pilbeam, Proactive Investors.
Have to wait for his update.
News, Fri, 29 Apr 2022.
Andrew Bell said "Fit for $250 Million."
[ref: DRC Musonoi copper/cobalt]
A.Bell: "OUTSIDE THE CONGO."
[ref: litigation claims outside the Congo. $20m litigation done in the Congo Courts]
See my notes today, Fri, 29 Apr 2022 at 18:18.
£1 = US$1.26
So, $250 million = £198.4 Million vs £4.2 Million RRR Mkt Cap @0.35p.
=47x.
--------------WHAT A TERRIFIC ASSET OF SITU IN GROUND VALUE OF US$125 BILLION
per RRR Consultant Geo's based on 83 drill holes and assays +750 pages of reports+historical data.----Very few co's on the AIM etc have such Value in Ground of US$125 Billion.-----
MUSONOI - International co started CONSTRUCTION in 2020 and they list it as theirs.
Checked their website today but I think I had better not give out the name?
But one can check via MUSONOI COPPER COBALT, DRC to see who owns it ie INTERNATIONAL CO.
News, Fri, 29 Apr 2022.
Part 2
ANDREW BELL INTERVIEW TODAY, 29.4.22 [RNS INTERIM RESULTS ALSO TODAY]:
ELEPHANT OIL IPO
1 shareholder to be removed.
High calibre board.
WEST AFRICA
Looking good. People coming in. [Note sure if A.B is talking about Zimbabwe lithium 2 licences?]
KENYA
Find a partner. [Ref: Migori?] [Gold JORC 723,000 oz]
AUSTRALIA IPO
Assays taking time in Oz.
IPO not strong. AB mentioned options.
So listen if interested.
FUNDING
Katie Pilbeam, Proactive Investors asked about funding.
A.Bell:
"Always something we can sell."
"Money back from the Congo."
---------" O F F E R FOR OUR A SSETS - LIQUIDITY EVENT."-----LITIGATION"-------
------------BY WHOM RE: AB OFFER FOR OUR ASSETS-LIQUIDITY EVENT? --------
News, Fri, 29 Apr 2022.
SP 0.39p
MKT CAP £5M.
INTERIMS 29.4.22
Took a quick look at Interims RNS today - some £13 Million in Exploration/assets out of total of some £17m -kindly check as I had no time to copy so from recall.
Andrew Bell, CEO Interview with Katie Pilbeam, Proactive Investors today, Fri, 29 Apr 2022.
[Post Interim Result RNS also today.]
ANDREW BELL:
"Progress-litigation DRC [50.1% owned]
$20m JV sold back to state co, SOLD to INTERNATIONAL CO.
Pre-arranged, pre-packed.
[1]$5million, $15m -hung on by state co. AB to fly out as state co needs to know who to pay?
Sat down.
[2] LICENCES OF EQUAL REASONABLE-BACK, SPLIT PROPERTIES.
[My comment: AB wants equal licences to Musonoi, DRC or split properties?]
[3] $250 MILLION-ADDRESS OUTSIDE OF CONGO.
[My Comment: RRR has won 2 litigation cases in the Congo as above relating to the $20m [$5 +$15m issues?. The $250 Million will relate to litigation OUTSIDE the Congo Courts, perhaps international arbitration given it is an international co involved [?] or private litigation funded by lawyers - groups as norm. AB did not give details.
---
MUSONOI COPPER AND COBALT, DRC.
It is in the KOLWEZI mining district. Kamoa-Kakuala is also on the way to KOLWEZI airport.
BHP is in early talks with Robert Friedland's Ivanhoe to buy Western Foreland, adj to Kamoa-Kakula , a Tier 1 producing mine.
MUSONOI IN SITU VALUE OF THE CO'S RESOURCE IN THE GROUND IS US$ 1 2 5 BILLION.!!
This is from the RRR current website and this value was from their Consultant Geo's based on 83 drill holes assays, 750 pages of reports, historical data etc. Typical grades 3-5% cu copper and 0.5-1% cobalt. Link: https://www.rrrplc.com/projects-and-investment/copper-cobalt/vup-copper-cobalt-jv/
----------SO $250M OUT OF VALUE IN GROUND OF $125 BILLION IS TINY--------------
-----$250M VS RRR MKT CAP £5M @0.39p today, 29.4.22
INTERNATIONAL CO
I checked today and they list MUSONOI as theirs.
Miningdata said 25% Gecamines [state co] and 75% international co.
Maybe, this international co has 100%? Dont know.
MUSONOI - construction to start the mine began in 2020.
RRR AGM
It appears that A.Bell was voted in by a "LANDSLIDE" by the big holders of RRR.
Well, AB is the man to talk to the big cheese in the DRC - CAN HE GET EQUAL TO MUSONOI LICENCES OR split properties? Got to wait for next RNS/news/interview.
Thanks to trojan for the link.
News, Fri, 29 Apr 2022.