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Wonder my account is exactly the same losses but with bigger numbers.
Bell is a story teller, he tells stories, the latest one being in the Congo, listening to the recent fare Bell now says he feels certain parties involved may not have the cash to pay compensation to Red Rock but might be able to offer alternative licences, well the last thing shareholders want is further exploration ground to expend money the company does not have.
After all the noise from Bell about legal pursuits in the Congo the only RNS shareholders demand is receipt of hard cash, multi millions of USD, will this come, the market thinks not judging by the share price.
Bell will duck, dive, weave, offer excuses, spin yarns - to make matters worse he is so thick skinned one has to feel he actually adores being criticised, some 5 years ago at a certain presentation Bell was introduced by the host as the most disliked (or words to that effect) CEO on AIM, Bell actually seemed love the title and then proceeded to waffle on about sector cycles etc.
One cannot understand how Helpful & Co can actually support the fellow, a BOD of Bell, Kaintz & Borelli, maybe they should add Count Dracula as a Non Exec to further enhance their appeal.
If the case for upside is so appeal Helpful why are you not filling your boots with red Rock equity ?
I was involved and supportive here some time ago, but eventually realised I (and everyone else) was being mightily hoodwinked by AB. I moved on having learnt a painful lesson. I still have a residual shareholding in my trading account which may be instructive re company / Bell performance:
cost: £5853.92
current value: £14.73
change: -99.75%
There it is again..."The only person that is going to get us the result we want in DRC is AB"....yawn
Based on past performance, when has AB delivered any material value or result for RRR? You're talking like a result is 100% nailed on again.
His greatest success is hoodwinking folk by selling them more promises and hope so that when the opportunity actually presents itself to get rid of him, they simply lap up his bs and stand up for him. Only on AIM would a CEO (oh and Chairman, corp governance anyone?) get support for another term after 16 years of absolute failure. When it comes to management, past performance is most certainly a guide to future results.
And there becomes a time where you simply cannot keep saying that. It’s been years. Over a decade for some. Non-performance cannot continue to be rewarded on hope.
No defensiveness on my part. As I said, I have a view and you have a view. I think that getting rid of AB would be destructive of shareholder value at this time.
That remains my view and I am not swayed by your near constant personal attacks.
You want to control the company? Then you need to get your cheque book out.
The only person that is going to get us the result we want in DRC is AB. That is the top and bottom of it.
I have sizeable positions in numerous companies and each one has someone stamping their feet that something must be done. The way to make money is hard logic. If AB is binned who else is going to get us the compensation from VUP, Gecamines, Sofibank and Glencore? Not me and not you.
DYOR
Yup, exactly - where HAS the money gone? You’re defensiveness seems interesting in itself. If someone gives someone money and asks where it’s gone, that’s in their right, let alone a shareholder. Odd how much you defensively read into that but says a lot.
Furthermore, I’m not some amateur investor as you know. The loop created through CLNs
And warrants means that it is indeed an endless loop into certain peoples’ pockets. Anyone buying more shares would get hurt by the grip of prior poor deals through CLNs and warrants when bell had no choice.
Again, asking direct, where did the money go and the gaps on the RNSs?
Additionally, how much and what share price did the major shareholders in your group pay for shares? Or was it a CLN conversion? That + warrants starts to really reveal the structure of a guy on 6 figures running the company who’s a minority shareholder. People should really dig into this to make up their own mind, but there needs to be accountability more than ever.
And I do have a adult conversations, on regular basis. I am not the one that tries to personalise things all the time.
Anyway, as I said before; if you want to call the shots then you need more shares. We each get one vote per share. 50% +1 calls the shots.
Nothing underhand
I suggest that you reread what you wrote:
"Where’s the money gone? And your ‘holders’ how did they obtain their shareholding and where indeed has the money ‘paid’ for their holding gone?"
I note Helpful has not replied concerning Resolutions 2, 3, 5 & 6
One suspects the major shareholder(s) have been cajoled by AB to vote for 2 & 3 (Bell and Borelli tenure extensions) but what about ability to issue shares without shareholder approval 5 & 6 - if they agree to this they will be diluted out of sight just like all the other major shareholders who had sway in the past.
The last thing Bell wants is to be told what to do by nuisance shareholders, remember 2021 was going to be a transformational year and the year when Red Rock equity was going to have a material upside revaluation, I believe in one interview Bell talked about a £100m valuation - well the market cap is a mere £6m, Q2 2022 on Friday and none of his claims have come to fruition.
My votes are in, against all the above resolutions, not long to wait.
Simply put the RNSs don’t add up. That’s absolute fact.
So don’t send me underhand threats - I assure you I have far more resources than you if you want to go down that road. I am clearly pointing out the numbers, straight up, from money raised versus what’s been spent/sold does not add up - that’s an absolute fact. You clearly haven’t reviewed the accounts carefully enough if you start thinking you can make a threat there I would be very very careful.
There are consistent holes in what’s been said here, and that comes down to the numbers. Many people have mentioned it. It’s all too often drowned out by you saying ‘results next week’, results/listing by January. It’s almost April now. There’s an incredibly long list of false assurances on this board that have never come to fruition. That is also a fact, not the sprouting, but the notion that none have come to fruition.
What is also a fact is that money raised, projects where money has been spent and importantly write offs has not been fully accounted for.
So why don’t you be a big boy and have an adult conversation rather than thinking making a threat makes someone disappear. I guess you prefer intimidation.
I don't understand why you think someone else should go back through the RNSs and annual accounts to work it out for you. What is wrong with you going through the RNSs yourself?
And you need to be careful about alleging criminality. Being on here doesn't grant anonymity or any protection.
DYOR
Again, you haven’t answered the main question.
Where’s the money gone? And your ‘holders’ how did they obtain their shareholding and where indeed has the money ‘paid’ for their holding gone?
It looks like the Jupiter Mines sales were well timed. The share price is lower as the prospect for dividends in the near future.
All the quoted assets are assets held for sale.
If you see the RNSs you will see that decent money was paid to Kansai and to VUP.
The main interest in Jupiter was the iron ore royalty now in Juno Minerals. It suited RRR that the assets were outside Jupiter and so stood a chance of being developed and the royalties paid. Inside Jupiter, nothing was going to happen with the iron ore assets.
DYOR
As another week begins, the reality his a minority shareholder here has taken the solo decision to sell the only performing asset for the literal sole purpose of paying his overly-inflated salary for non-performance over a 14 year period that he flat out refuses to cut.
So the best asset (historically that’s fact if he hadn’t sold more prior to also paying his wages), has been sold for the minority holders benefit.
It’s getting close to the time for an external audit here and genuine accountability. Question; where did the money go from the £15m+ raised? And where did the supposed money go from Helpful’s supposed large shareholders?
Serious questions that should be very simple to answer. The ‘oh exploration takes money’ excuse has no legs left in it. It’s answers time, because one man and a small group have led a great lifestyle from a lot of peoples’ losses. Weeks and months ago we had the whole ‘RRAL, elephant, drill results etc etc next week’ total fluff. Now with AGM, times up. If I contribute one thing here it will be accountability - and that’s a word that people involved in this company seem to have forgotten about. You pay yourself a big wage and refuse to cut it based on failing results, then sell the one solid asset to continue to pay that, whilst not delivering, then one should be very concerned.
Zumore..... Are you still here :-):-) Thought I would look in on the chat. Is Magic still around? Had a quick look through the chat but didn't see his name. Anyway, anyone in here and investing, or thinking of investing.....RUN :-) Bell is the worst!! Very Rich on Many others backs. I should have taken Magics advice all those years ago, but i didn't. Thankfully I made a little back on a cheeky, well timed investment a couple of yrs back; But never again! This really is an aim scam company. Good luck to anyone taking the plunge......but you have been warned. Zumore, i hope you have been making some good profits elsewhere? Sadly Ukraine has given us all another chance.
Here is Bell being interviewed about Migori in 2010.
https://m.youtube.com/watch?v=uIfLcFhXtiQ
You will notice Paul Johnson was doing the interview. Who would have imagined that 12 years later Bell has made little progress and is still promoting Migori.
AB.................... in my opionion does a good job. share price is low. so I've bought back in. I've read the RNs talking about different prodjects & am supprised that some don't give AB praise . helpful is the exception. good for him.
Exploration company does exploration, investors get upset.
If RRR doesn't do any exploration, what is it supposed to do?
Its two biggest assets were subject to subterfuge. If they had not been subject to subterfuge then the company would be much further on. It takes time and money to defend your assets. The work being done in Kenya now is work that would have been done in 2012/13/14 etc if there had been no subterfuge. If there had been no subterfuge re Musonoi, then the JORC would have been completed 2+ years ago and the asset would now be in production: this will be reflected in the compensation. AB was not the cause of the subterfuge in either case but he was and is the one that defended RRR's assets.
DYOR
Poor effort in delaying the interims until well after the AGM as well. Why would a company with only outgoings need to delay interims? Yet AB some how gets away with it with his loyal fanclub cheering him on.
Lots of rubbish being propositioned here, Red Rock still have a many assets worth multiples of the current market cap BUT Bell is the issue, he will NEVER admit it, nor seemingly will Helpful and his chums who must love losing their money as a result, I suspect they will vote for him, however even their votes might not be enough, by next Friday we will know.
ALL AIM stocks have spikes in price, there are many opportunities for numerous spikes in the Red Rock share price imminently, the listing of Elephant Oil, the IPO of the Aussie assets, news concerning cash from legal pursuits (which could be a significant number) from the Congo, a possible JV or new potential IPO's etc.
I think shareholders in Red Rock could easily have opportunity to recover some value in the weeks ahead not withstanding the 'Bell discount' time will tell.
All getting rather desperate now. Heaven forbid AB would ever actually give any guidance whatsoever on cash position - "expects to have sufficient working capital available for the foreseeable future" could mean absolutely anything. Another "update" which regurgitates and provides no financial detail for existing and prospective shareholders to make an informed decision as per usual. Good companies don't operate in this way.
No mention of Power shares either.
I post every year or so. I can’t say I’m particularly bitter about losing almost all my investment here as Andrew taught me a lesson that I have not forgotten. Management is absolutely key. In my opinion Andrew has only one objective and that is looking after himself. In this instance can he get past the AGM and keep his income going for one more year. I urge new and old investors to do your research, surely if you did you would not go near anything to do with Mr Bell. All just a personal opinion of course
Yep ….. wish I’d followed him -
I guess he sold around 30 - I stayed for the fall to 19 !!!!
Only one year lost and another 15%to find until I catch him up
"The Company no longer holds a material investment in Jupiter Mines"