Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Well his supposed successes are certainly not being reflected in the share price, and this is what “trolls” point out. No one trusts him to manage any amount of money as it just seems to evaporate, if we win multi millions in the latest court case (highly unlikely, just wait for the excuses/reasons) it won’t budge the SP as no shareholder will ever see any value. Leopards don’t change their spots, not unlike spittle lickers like Helpful.
PS did you pick up that he mentioned lithium interests in the interview?
The bears/trolls will say the same thing whatever happens; he has done nothing. Whatever is done is just written off as nothing.
They said he wouldn't get the Kenya licenses sorted, they said nothing would happen in Victoria, they said that he would mess up on the DRC legals.. and so on.
DYOR
First interview on Vox for a long time... AB in the process of throwing a Hail Mary to save his job. Let's see what he conjures up. Maybe he should have the pressure of being up for re-election every year.
There is no doubt Bell is trying to get the message out and well done for that but I think market participants are so sceptical of the man no-one believes a word of it despite the fact the projects/investments have significant value.
Bell needs to deliver something meaningful beyond long term aspirations and near term possibilities, let us have a JV, a IPO a monetary court win, a project sale actually happen, just about anything to demonstrate Red Rock has turned a corner, the bears continue to suggest Bell is all talk and waffle, heard it all before etc etc.
The bulls point to the obvious value that lies ahead but it needs more than a handful of bulls to get the market valuation to a level that truly reflects the value Red Rock has way beyond peers that are selling on 3 to 4 times multiples.
Come on Mr Bell !
Another interview V**markets
https://twitter.com/RRR_RedRock/status/1480520711420657668?s=20
It is process, we go one step at a time.
Helpful I wait with interest on the final outcome and hope what you suggest transpires. Now that would be a boost for the share price but I have endured many AB failings in the past so we shall see.
We are not in a mess, this is the best outcome.
We will end up with far more than if Glencore had done a clean deal through the front door rather than the back door.
The costs in DRC are de minimis. Once they are ready to proceed against Glencore, they will go to litigation funders. If we get a litigation funder on board, it costs RRR nothing. On settlement the litigation funder recovers their costs against Glencore and they take a portion of the settlement. If they are unsuccessful, the litigation funder bears the costs.
It is a business: it happens all the time. See Ascent Resources, they have signed up a litigation funder for their claim against the Slovenian Government.
https://www.londonstockexchange.com/news-article/AST/signature-of-slovenian-claim-funding/15202657
DYOR
Clearly we had a good asset here but find ourselves in a right mess. And how much is it going to cost and where do we get the money from? Nothing straightforward here.
Robins, you need to keep things clear in your mind. The facts are:
1. Gecamines still has $15mil of the $20mil: that is not under VUP's control
2. VUP is not the only party we can pursue in respect of the $11mil damages: any other party involved in the fraudulent transaction can be pursued.
3. RRR has said orders and parties. It is not all about VUP. RRR already has orders against parties other than VUP.
DYOR
Thanks Helpful. I wonder if VUP has the ability to pay us and from memory AB was already talking to Glencore so this might go in our favour?
Well the answer is dependent on how strong our case is and what documentation we have to support our case.
If we have a strong case, and we have successfully jumped the first obstacle in DR getting the orders about ownership, then you would expect a rational party to do a deal. RRR has already stated it has access to documentation proving its case but in any case VUP has read its own evidence about the transaction into the DRC court. That evidence is now a matter of court record. VUP was jointly suing Gecamines and Glencore for $15mil. They didn't just pick two random parties to sue and a random amount to sue for.
You never know with court cases but the first and most important hurdle has been jumped. It is now process. The next step is the award of damages next week: we are claiming $11mil, it might end up being a different figure.
After that RRR turns its attentions to Glencore and other parties whilst at the same time making sure somebody pays the $11mil or whatever amount it ends up being. VUP is not the only party in line for paying that $11mil and the bigger claim is to come.
Without proving ownership in the DRC court we would have a weak case against Glencore.
DYOR
Helpful I assume litigation can take years. Any self respecting Company would have not gone behind our backs but you posted a bit ago that Glencore have form in this area. This poses the question will Glencore make us an offer we cannot refuse or will they play hardball?
The claim against Glencore might be up to $1.5bn. They will need to appoint someone to do a proper calculation that they can use in court.
You can do a back of an envelope calculation yourself:
Musonoi 375k tonnes of copper plus 24k tonnes of cobalt X 50.1%.
Plus something for the other two licences.
RRR will need to get a litigation funder on board.
DYOR
They are pursuing between $2.5m and $11m but it could be more as the RNS states the 'loss of opportunity for profit'
More news on this is imminent as per this podcast
https://www.youtube.com/watch?time_continue=3&v=b7NhtSppRe8&feature=emb_logo&ab_channel=Proactive
Looking good
Does anyone here know the amount of damages being claimed in this legal matter? TIA. GLA
Everything going in the right direction.
DYOR
Couldn’t agree more Hopingforbags
We won a court case after a similar situation in Columbia, but the defendants couldn’t pay us. Eventually we took shares in Para Resources in leu, which subsequently collapsed and were eventually given to another party because we didn’t have cash to pay them. Money we did get quickly disappeared into other failed projects. I don’t think this time it will be any different
Re your comments re AB - I have to admit that I to was very critical of AB for not delivering over my holding period but at the moment he seems to be doing all the right things.
I was critical to him personally saying “RRR was just a one man band and more akin to a supermarket who bought things and hoped someone came in and bought them!”
Now with the spin outs, the appointment of management on major projects and the activity from AB himself ………. this now feels like a real company.
Fingers crossed for the court case ……and the bigger one to follow
Personal plea - can we sell something so we have the cashflow to develop the many many many undervalued assets we have.
AJ
You do realise bell end has done mulitiple consolidations back to square one to cover
his financial failures and rainbow chasing over the past 12 years
The king of the dog ate my homework excuses, lth's will remember the sale of the
Greenland DSO Iron ore asset to some Russians , the money never turned up
Bell classic at the time , the money is stuck in a Cypriot bank , nice grasp at current
news (run on the Cyprus banks)
Strangely the asset and the multi millions , never mentioned or saw the light of day again
after things settled to normality in Cyprus
The asset did appear on a sale for £1 plus some carried debt, with another company several
years later and they did not buy it from RRR hmmmmmmmm
If he had sat on his hands and done nothing , when holding 28% of Jupiter Mines (spun out
from rrr originally its asset) and did a roaring ground floor to 14p in 2010? he even sold some
shares to buy his daughter a house (wedding gift as I remember)
RRR would be worth a fortune and low share base around £5 a share
if only he had sat on his hands back then lol
Was a poster on here a few years back oberon or similar , ex director of the company, as he always
said , AB has had success in the past and probably will again BUT anything to do with Bell buyer
beware and expect to be diluted to death until it happens as HNW Peter Gyllenhammer also found
out to his cost as with sister company RGM also spun out of RRR ,he drove into the ground and lost
after similar mass dilutions and consolidations.
Law of averages say's he has to hit another winner after 11 years of abject failure and rewarding
himself with 3 for the price of 1 annual share awards on top of his salary.
Know the man and plan your strategy accordingly , you will make money , how long he lets you
keep it before another PRUDENT placing is another matter lol
GLA , Bell a roller coaster not for the feint hearted , never a buy and hold , more of a buy, rise, slice
fall, add again , rinse repeat many times and build up a safe low ave/freebie holding and then wait
for the day , his next Jupiter mines comes along.
;))
Wont be posting again , still have a small holding and watching with interest for another
2010 style rise , ground floor to 14p, lightning could strike twice lol
More good news.
Cote d'ivoire next.
DYOR