Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Bell thinks it's a good idea to say in the other rns.
Ah ok Andrew.
........
Hawaii. I agree those two rns are two sprawling messes of RNSes. They are classic Andrew Bell RNSes. And he thinks slipping French in RNSes (or sometimes Latin) impresses investors. It doesn't!
Bell says in the DRC rns.
Does that fill anybody with confidence? Surely it would have been better if he had said: "We are confident of our position LEGALLY"
Placing comming!
What a mish mash of news - do you think the likes of Paul Johnson would write RNS statements like today's
Every time Bell speaks the shares fall.
It's been a long time since any material news, the silence cannot last much longer, green shoots of recovery are starting to appear in the junior mining space which will benefit Red Rock soon enough.
Not so. Sometimes we just have to wait a bit longer than we would like.
xx
Friday's RRR tweet looks somewhat misleading:. https://mobile.twitter.com/RRR_RedRock/status/1459103688769871891
It asked investors or potential investors to look at the 1st September broker research note. Since then the stated £1.7 million Jupiter shares have been sold off and only approximately £600,000 remains. Likewise only around £650,000 in POW shares remain. Bell also never mentions Juno shares these days so I will assume they have long been sold off.
The other estimated figures mentioned for the other assets look to me to be over the top exaggerations. So if that tweet is the reason for Friday and today's RRR rise then I think those new RRR investors have been misled.
How dare you malign Benny and Fatty with that comparison.
TDT
Looking at that photo I still say Bell looks like Benny Hill. It's either Benny Hill or disgraced silent movie star Fatty Arbuckle.
Andrew Bell has denied selling more POW shares despite an earlier Tweet suggesting RRR had a 1.9% stake, the 1.9% stake tweet has been removed, one can assume the previous holding of POW shares declared on 28th Oct of 37.2m shares remains which is good news, worth around £650,000 currently.
Photo's of Bell in the Ivory Coast have been posted this morning
https://twitter.com/RRR_RedRock/status/1458475896185237505?s=20
https://twitter.com/StephenPLundy/status/1458368801494474755?s=20
https://twitter.com/RRR_RedRock/status/1458715634875998208?t=hBnCP6GIgPFzKQ_oWQxlRQ&s=19
Gold currently $1,859 touched $1,865 earlier.
US inflation has scared people.
https://twitter.com/graddhybpc/status/1458448990236782596?s=20
Hard assets is the place to be. Very good for RRR.
DYOR
So if Caracal is over valued and RRR is under valued, why would we want to take Caracal paper?
This is a new interview from Caracal today, from around 4 minutes they mention Red Rock in very positive fashion.
https://twitter.com/StockBoxMedia/status/1458044149899333635?s=20
The link to the CFO of Caracal is below Helpful, the comment about speaking with Bell today, I heard Mr Bell being exceptionally critical of them and he said in no way would RRR take their paper as part of any deal, he considered them to be overvalued.
https://twitter.com/JB_MiningAfrica/status/1458028865406873609?s=20
Given that Caracal reached a £27m m/cap & Red Rock is only valued at £6m for the whole company it clearly exposes the weakness of RRR management to get a sensible valuation for the company. In my view, I have said it before, is down to Mr Bell being both Exec Chairman and CEO, no-one trusts him, he did say that he was interviewing a high profile 'name' to drive value but words are words and the market wants to see action.
PS and if they want to farm in the answer would be no. If we take a farm in partner for Migori it has to be someone who can take it all the way to production and carry us. That is not Caracal.
It would be cheaper and easier for Caracal to make a bid for RRR. They might get it for 3p a share.
DYOR
And as if by magic!
https://twitter.com/RRR_RedRock/status/1458047229944545285?s=20
I am sorry H but you can take anything Caracal says with a very large pinch of salt. We don't want their equity under any circumstances but if they want to write a very large cheque that won't bounce I am all ears.
I can't see the tweet that you refer to.. can you post it?
Thanks
DYOR
Helpful
Red Rock have announced via Twitter moments ago they now own 1.9% of POW, this equates to around 25.5m shares. So it looks like they have now sold nearly 20m shares - raising around £350k
https://twitter.com/RRR_RedRock/status/1458026729411338243?s=20
It does look they are tidying up the balance sheet, in a interview with Tom Winnifrith last year Bell was pushed into saying if they get cash from a asset sale or via IPO equity sales it would be prudent to buy back RRR shares if the price was low (at the time the SP was around .90p) Bell agreed, so you may be correct that a share buy back could be a way forward.
It is also worth noting that the CFO of Caracal Gold tweeted earlier he had been speaking to Mr Bell today.
There does appear to be quite a lot going on behind the scenes as you suggest.
https://twitter.com/JB_MiningAfrica/status/1458028865406873609?s=20
Why not think it through?
One way or another both Elephant Oil and RRAL/NBGC will be listed by end of Q1: how much does that add to the balance sheet? In all likelihood they will be listed latest end of January 22.
He says he has at least two more spin outs.
How much progress will POW have made by the end of Q1 and what will the share price be?
What chance a JV or two at Migori? One for the tailings and one in some of the hard rock?
We are due news on both Luanshimba and Migori from the drilling programme.
How much does RRR need for its development programme? I would say no more than $10mil tops.
There is a process to go through for share buybacks that RRR has to go through. It has to go to the High Court to capitalise the carried forward losses and get permission to buy back shares and cancel them. Very tax efficient and it gets the weak holders out. It doesn't happen overnight because of the High Court but they started it Q2, they could be ready Q3.
RRR recently paid back £1mil of its loan. It looks to me that it still has a bit of debt but not much.
DYOR
"I suspect share buybacks will be on the agenda Q2 22." - HAHAHAHAHA!! Thank you, needed that.
AGM
It depends what you mean by nothing happens.
Lots of stuff is happening and I mean lots. You listened to his last few updates. He has several spin outs on the way. RRAL/NBGC has been slow but it is close now. I check on Companies House each day to see if the share swap has been done. Once the share swap is done, it means that the listing is happening. Lots of rules in Australia to be navigated relating to foreign ownership of companies.
Elephant is the next one after RRAL/NBGC and then he says he has two more at least to spin out. Elephant should have been done by now but these things just take longer than people want or expect.
Share price is separate from something happening. He can't control that; all he can do is keep adding value and then one day it will all come together because the Tipping Point has been reached.
I suspect share buybacks will be on the agenda Q2 22.
DYOR
If anyone listens to the recent Q&A session Bell said Red Rock had de-leveraged to the tune of £1m, one assumes RRR are now debt free. Something I cannot understand is how Bell is able to pay back this debt without officially RNS'ing the news, surely this is a material event.
In the same interview Bell made it clear the major shareholders have told him no more dilution, he said he wanted the shares to be sticky and hard to acquire, he added he thought RRR shares would outperform when the market turns due to ongoing value events.
It is good to know the major shareholders have a grasp on events and are seemingly interested in seeing value from their investment, the AGM will be critical, Bell will surely be voted out if nothing happens by Jan / Feb.
The shares look cheap right now.
Gold looking better.
$1,815