Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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One way or the other we will end up with serious monies IMHO. AB can't put in the public domain his strategy and all the steps he intends to take: firstly, the NOMAD would say that is your wish list not facts and, secondly, why would you want the other side to know your plans before you execute them?
I have seen the order and I can read French. What RRR has said about the order is correct. NB I did law as part of my degree but I am not a lawyer: what it says is pretty plain.
The next step is the damages award. We should know shortly; then it starts to get interesting. Many a slip twixt cup and lip and all that good stuff but the trolls on here were saying that AB had messed up "again", that he was wasting money, he would get nowhere etc and, oh, he was sitting on his fat bottom doing nothing for the company except milking it dry.
Well it looks to me like he has been a busy little bunny.
DYOR
Helpful how confident are you in us eventually receiving money in the bank from these parties? Many of us will remember how long it has taken to get the El Limon royalties. I do not know the level of corruption in the DRC or how politics work there.
It is a process. We have to through it. The order establishes ownership. VUP is not the only party we have a claim against. Having established ownership in DRC law we can take the next legal steps both in DRC and outside DRC.
Next should be the award of damages.
Pathfinder for years have been trying via the UK courts to enforce its "rights" in Mozambique. It has failed because it has never obtained an order in Mozambique establishing its rights. A UK or Swiss court would take the order re ownership as established fact.
DYOR
Cryptic twitter words to me. Not sure what RRR are saying there? As for the RNS I do not understand why AB made such a point about us being granted an order but it does not mean we are guaranteed getting the cash in due course. It was as though AB thinks it might be difficult to get cash in the bank and this may be a reason why some people may have been spooked into selling.
https://twitter.com/RRR_RedRock/status/1479025869691760642?t=aCoYtYtOLkRP27INR6Khng&s=19
"has obtained Orders against VUP and others"
Orders: plural
Others: not just VUP
Gecamines still has $15mil out of the $20mil.
As always, let's see..
Goods news on the face of it but I suspect this may be a phrrhic victory financially given the comments made in the RNS on RRR’s likelihood of actually collecting the debt. Does anyone have any knowledge of VUP and their financial standing? (ability to pay). GLA
Well whatever the number ends up being it will a large one relative to RRR's market capitalisation.
No wonder Helpful
Market was betting on this news over last few days
Very, very good.
Establishes ownership in DRC law. Glencore had better get its cheque book out
DYOR
It is rather interesting that Outback Gold have a market cap of £33m, they are currently a pure exploration play in the same location as the Red Rock/Power Metals JV, in their presentation you can clearly see that the RRR/POW JV (marked in yellow) has a larger licence area than Outback in the Ballarat gold 'hot spot'
https://outbackgoldfields.com/projects/overview/
So it is not without foundation that New Ballarat Gold could easily attain a £20m m/cap in due course as Andrew Bell has suggested, RRR own 51%.
IPO on the TSX of a company with licences near Red Rock at Fosterville in Aus, bodes well for the New Ballarat Gold AIM IPO where RRR has a 51% interest. Trading starts on the 6th.
Https://twitter.com/Outback_gf/status/1478437601103155204?s=20
I look in occasionally. It must be ten years since this was 50p plus since then its lost 98 to 99% of its value. I got out with a 50% loss moons ago.
Dilution is allways at the expense of the shareholder. Good luck to any new shareholders but there ten year record is SP losses and the snakes are always considerably longer than the ladders. Perhaps 2022 will be the year RRR has a gain but don't bet your shirt on it !!!
Looks like the market makers have no stock.
Looking a lot better.
Some decent hard news this week and we are off t'races.
DYOR
I finally believe the lack of share issues in 2021 is starting to bite the market, this morning there are no quotes available on small orders and a premium is being asked for anything over 150,000 shares.
This is the perfect scenario in view of the news rich period ahead, the share price could respond positively on thin volume disproportionally.
Looks like patience may be rewarded soon enough.
To do a fund raise, he would have to go to a GM. Any fund raise motion would get voted down.
He has other options at hand, he needs to decide what to do. Elephant should list in March, NBGC might list in January but I think it more likely to be February. He has other spin outs and potential deals. A lot going on. Hopefully the news flow starts this week.
DYOR
Andrew Bell has said nothing of the sort concerning a fundraise, as for the going concern matter it sits in every AIM companies set of accounts as the norm.
Red Rock has just sold £1.2m of Jupiter Mines shares and has other shareholding it can raise further funds from, the placing route is out as Bell has to ask shareholder permission to raise unlike other AIM companies.
The consensus appears to be that Red Rock shares are in for a exciting period of activity with lots of news-flow expected, we will see soon enough.
Has anyone read the accounts and noted the two red flags 'Going Concern' reservations plus the warning that finance is needed very soon.
AB has already indicated there will be a fund raise soon so that should aleviate immediate concerns when it happens despite difficult financial markets which may be offset by a discounted price
If ABs company history is checked via .GOV., it will be seen he has been involved in 18 companies most of which are no longer trading.
My interest is that this time he will deliver for once despite being chained to his appalling track record of failing to deliver anything of serious substance to shareholders throughout his long career.
https://twitter.com/IEA/status/1477259575078359042?t=2-92WHmoPk5IgB0PqyaxjQ&s=19
Very good for the Elephant Oil listing.
Interesting interview.
The elephant oil stake maybe being worth 2 million made me raise my eyebrows.
AB says we may leapfrog into a different orbit. Just hope it is into a better place than he has led us to before.
Agreed - good synopsis of where the company is up to and a good route map for 2022
It looks like things are finally starting to move and there should be enough good monthly news to maintain or drive ourShare price forward
“Do we have enough capital to drive all projects forward?" - let’s see how the court case goes next week - we’re apparently suing for our current market cap and that’s just the start…… does that not double the SP in one go if we can get settlement?
"Investors will be Materially Rewarded"
https://twitter.com/StockBoxMedia/status/1476821679401848842?s=20