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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"
ITS JUST MORE OF THE SAME THOUGH.....
Sampling, drilling, ongoing sampling, firming up, confirming, and then more drilling so that we can firm up and confirm more....
YES, i sound frustrated...... but, i think WE ALL have good reason for this!
Red Rock Chairman Andrew Bell comments : "Our reverse circulation drill programmes in Kenya and the Congo, where we have recently announced results, achieved their objectives, and we are already planning and costing the diamond drill programmes to follow up these successes.
We still have the gold drilling results from our diamond drilling programme in Victoria, Australia, to look forward to, and we also await the full results from a gold sampling programme across our Ivory Coast licenses, as well as results from lithium and tantalum sampling in Zimbabwe.
We also look forward to the listing of Elephant Oil Corporation, a group in which we have been a longstanding shareholder (currently holding under 4%) in the U.S. The value to us of this holding upon listing is expected to be a multiple of book value and WILL UNDERWRITE SOME of our continuing activity.
We have had two groups of assets in the DRC. One we recently drilled. When we acquired our other JV interests in the DRC, the fact that we could in our internal assessments based on previous work identify a quantifiable high grade deposit exploitable from surface and within easy distance of processing facilities created in our mind a potential route through an early transaction or by mining out of the small company trap. Our success in negotiating the replacement of the original assets offered to that JV with better assets unfortunately created too great a temptation for some of our associates, and the extent of the misbehaviour became evident late last year. We would hope to obtain returns through compensation as opposed to those we should have enjoyed through mineral extraction and sale; the pursuit of our legal rights in the DRC is progressing.
Decent update
I see Glencore are raising £785m tonight. Would be ‘helpful’ if that was partly for RRR
February of which year? Or even which decade? Incredibly, when you stop to think about it, this debacle has now been going on through 3 different DECADES!
This fluff of ‘results coming’ has been going on far too long, and there has to be serious accountability at this stage. The amount people have been paid here to non-perform is surely due for a serious audit. Time is ticking, and it’s not months, it’s weeks before there will surely be heads turning unless something is shown for the 10s of millions burned and totally false hypotheticals, if indeed, proven yet again to be so. It’s been 2 years since one particular posted has said ‘next month’, ‘next few weeks’. There’s only a certain amount of times one can do that before very real accountability is directed.
I'm sure you said that in February
First set of Australian drill results should be up soon.
Well red rock is methodically chasing all the people who have wronged us in DRC. He said in the Feb 2019 interview that he was absolutely thrilled with this asset and luck often played a part. The questions I would like to ask AB is how much money does he realistically think we will get and when re DRC. Bit disappointed with AB when asked why someone should invest in us. He said we are certainly worth investing in. Thought he would have been much more bullish.
Another one
https://twitter.com/RRR_RedRock/status/1506290621052600327?s=20&t=4RoXFK2mwEht-qle82Tbsw
Great interview. Now that he has said it I can say it.
Our friends at G did a backdoor deal with VUP via Gecamines in which they agreed to pay somewhere between $150mil and $250mil for Musonoi plus the other licenses. How much would did they think they were saving by doing a back door deal rather than a front door deal? If they were willing to pay those sorts of monies, what was Musonoi worth?
Well go back to the original interviews that AB gave about Musonoi: this one is interesting https://www.youtube.com/watch?v=qV1DxsWKXKI
So RRR was going to get a JORC pretty quickly but was frustrated by VUP and their games.
RRR intended to bring Musonoi into production pretty quickly but was frustrated by fraudulent activity.
Gecamines intended that there would be 400k+ tonnes of copper and 20k+ tonnes of cobalt at Musonoi.
In our tort claim against G what matters is the loss to RRR of not bringing the assets into production because they were stolen. Work out what 400k tonnes of copper and 20k tonnes of cobalt might be worth in the current market.
DYOR
Thanks
I can't find an interview from today: where did you see it?
He said the company has been 100% successful so far in the DRC legal cases
You are obviously skilled at disagreeing with and objecting to things that people haven't said.
Elephant Oil provides RRR with a liquid quoted asset that it can sell and use the proceeds from to fund exploration activity.
You need to go back and read the RNSs re VUP and listen to the interviews. There are three elements to our situation re Musonoi and VUP. The damages, compensation and costs awards. The $15mil still at Gecamines. The claim against Glencore. VUP was suing Glencore and Gecamines jointly for the $15mil. Glencore had paid the $20mil to Gecamines and for some reason Gecamines only paid over the $5mil to VUP. The court has held that the owner of the assets (Musonoi plus two other licences) was the JV not VUP.
It is not that difficult if you stop making stuff up.
DYOR
According to Bell today, Elephant Oil will be listed on NASDAQ in the next 2 to 3 weeks.
He also says further progress has been made in the DRC legal cases and sounds very confident that RRR will receive a very large payout