George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
And what would happen with that £2.4m? What’s happened to all the dividends?
Squandered, as per all the placing money....
The income from Jupiter should go up regardless. They are about to kick off a plan to expand the output by about 50%; If RRR sells, it sells but if it does it should release about £2.4mil.
However, you must remember that AB gave an interview in which he said that if the price stayed down where it was, he would expect a takeover bid for JMS. If he is right, somebody would look to do it before they expand output, to do it afterwards merely means that the price is higher.
DYOR
If rrr don’t continue to sell down their holding that is
JMS dividend declaration 10.1%. Not bad given COVID and the weaker manganese price for part of the year. The income and dividends should start to go up from here on in.
DYOR
AB is also boring at writing RNSes. So boring at interviews + boring at writing RNSes. So on the promotional front what hope is there?
I always remember Red Rocks 2019 final results RNS. Start reading it and if anyone isn't bored stiff after a few paragraphs then i'd be amazed:
https://www.lse.co.uk/rns/RRR/final-results-37mjmbcq2w19q5b.html
No I wasn't mistaken you were definitely trying to MISLEAD with your 11.58 post. This is how you interpreted that report in your 11.58 post:
"So they are reckoning that RRAL is worth between £7mil and £25mil. So they reckon RRAL is worth between £3.5mil and £12.5mil to RRR"
...
You full well KNOW if RRAL were a listed company on the TSX and had a £25 million market cap, then by that stage Red Rock Resources would not be holding 50% in RRAL's shares. So you were MISLEADING by saying if RRAL did have a £25 million market cap then that would be worth £12.5 million to Red Rock Resources.
In just this past week you have also said:
"FYI a bit of fluff for you. I think that there is speculation in Oz that JMS is going to receive a bid pretty soon. Now that would be interesting for RRR"
"RRAL is on with its IPO probably early June"
Yes yes you are desperately trying to pump RRR so you'll say anything to promote RRR. You even have the audacity to outlandishly try to convince posters that AB is doing well at Red Rock. To most he is doing awful. He is rubbish at promoting the company. Yes AB got the licenses renewed in Kenya but he attracted no new partner and since licenses were renewed it has turned into a financial burden for Red Rock with $2.5 million already paid to former partner Kansai + Kansai have an additional $1 million promissory note that can be cashed in February 2022. So because AB attracted no new Kenyan partner that means Red Rock will now have the burden of paying 100% of exploration costs. So does AB really deserve praise on Kenya? In my opinion no he doesn't.
Also Red Rock own POW shares. Yes they are in big profit. The problem is AB is also POW chairman and so he is unlikely to ever bank profits for Red Rock by selling POW shares. So Bell clearly has a massive conflict of interest. So no praise for Bell on that front either.
You know you have an awful CEO/Chairman when most PIs dread him promoting the company with his tedious interviews. When I watch AB do interviews, yes RRR have assets, but during the tedious interview AB sucks the life out of those assets, after the interview you feel deflated with little hope remaining. In my opinion he is absolutely atrocious!
Ah Zumore the man who is blocked but still shows up on my feed and has now appeared as blocked again...
Misleading...
What you expect is not a fact: it is an expectation. Same here, what I expect is not a fact. However, when commenting on the report and directly taking the report's as part of that comment, it is a fact. They are stating that that they expect each of the IPO candidates to have a valuation of between £7mil and £25mil. It is a fact that that is stated in the report. Their expectation may or may not be proved accurate by subsequent events but it is fact, that they state what their expectation are.
No misleading there except by you.
Next why such a wide variation in valuation? Well to account for uncertainty. Included in that uncertainty would be things likes pre-IPO funding.
Now if you had asked me a few months back, I would have said that a pre-IPO funding round for RRAL was nailed on: now I am less sure. Both POW and RRR have the cash to fund the IPO so why take a pre-IPO round? Well now, I would suggest that they would only take the money from someone would help in the IPO and after-market. So unless it is from someone high profile that would be good for the IPO, I don't think they will take pre-IPO money.
Only my view but there we are. As to whether you agree with my view or not, I am not interested.
DYOR
Your numbers are quite misleading because If RRAL were listed on the TSX and their market cap was either £7 million or £25 million, you wouldn't say 50% to Red Rock so that's worth either £3.5 million or £12.5 million to Red Rock.
Clearly once listed there would be many other shareholders plus many millions of funds would have been raised leading up to any listing. So how many shares Red Rock would own in RRAL by that stage none of us yet know.
"Each company at the pre-major discovery and resource statement stage could, we
believe, command a market capitalisation of between £7m and £25m given current
resource market conditions, depending upon what recognised stock exchange it is
listed. "
So they are reckoning that RRAL is worth between £7mil and £25mil. So they reckon RRAL is worth between £3.5mil and £12.5mil to RRR. If POW gets to their target price, then RRR's holding is worth circa £2.5mil. So £6mil to £15mil.
RRAL is due some exploration results in Victoria soon and POW thinks Molopo Farms is a big deal with more results due soon.
DYOR
https://twitter.com/StirlingBridgeR/status/1384807374851121154?s=20
Updated research. A section on RRAL.
DYOR
Not stuck at all. I have just exercised some warrants. Likely I will be buying more in due course.
Watch the gold price, it has started to move up.
Yawn, post as many links as you like, won’t make a jot of difference. You’re stuck here like the rest of us.
Looking better; it should be reflected in the share price in due course.
https://goldprice.org/goldprice.org
I thought in that stockbox interview at the end of March Bell said that he was getting his toothache sorted before travelling to Africa. So did he go to Africa?
A day or so after that interview it was announced that from 9th April Kenya would also be going on the list of quarantine countries. So because Congo was already on the list of quarantine countries that would mean that Bell would almost certainly have to quarantine in an hotel on returning from Africa to the UK.
So did Bell put himself before the Red Rock business and decide not to go to Africa?
Where are the new Directors Bell mentioned were inbound around 1 month ago, if ever there was a company that needed improved corporate governance Red Rock is one.
I do hope Bell is not thwarting the proposed new team ( a bit like Prof Conroy at Conroy Gold who wants to retain his 'power') If I recall correctly certain folk who are close to Red Rock suggested news in this respect was imminent a few weeks ago, nothing to date though.
In the last Stockbox interview over 2 weeks ago Bell said that the RNS machine would be in overdrive but so far the only RNS's are warrants, director options and share issues, not exactly what was expected.
All the above said, knowing the mechanics of AIM and leaks, buyers were active Friday so one suspects news is imminent, hopefully the new Directors will excite the market as well as project updates.
As a trading proposition early next week is probably a good time to buy in.
https://twitter.com/NorthstarCharts/status/1383030327350820865?s=19
Don't confuse him: he thinks the only costs that matter are those from 2012 when RRR had about 30 staff.
https://twitter.com/RRR_RedRock/status/1382605878084444164?s=19
Are you confident Mr Bell hasn’t sold more JMS shares without an RNS?
Deflection.
You said nothing had been achieved in the last 12 months and you know that is not true.
Saying that a lot had been achieved but the market is not valuing what has been achieved would be true and fair. If you are going to level criticisms at least make them fair ones.
The list of things I gave you are not fluff, they are done.
FYI a bit of fluff for you. I think that there is speculation in Oz that JMS is going to receive a bid pretty soon. Now that would be interesting for RRR.
DYOR
It costs EVERY AIM company £250k/£300k for it's annual listing, that is a well know fact, Nomad, Advisors etc
Recent salaries for RRR have been modest - Bell base salary was £82k in 2020, same in 2019 - total director base salaries were £183,000 in 2020 - comparable to many peers.
G&A costs (which include those salaries) were £600k for both 2020 and 2019 - again comparable to peers.
The running costs of Red Rock are no different to most other junior resource stocks.
Magic pal - stop regurgitating the same nonsense, we’ve seen your copy and paste message before. Difference is I’m bullish RRR but not Bell. Yes, some of your points have a similar pattern now but stop with the copy and paste. The current projects have such potential, and I would rather discuss or critique in the present (if you so wish) than all this past stuff
Wiltshireman - "Nevertheless how do you keep good employees onboard if you don't dangle 'carats' in front of them?"
Do you realise how many employees there are and what they get?!!!!!
The Annual Results stated:
"The Group retains a lean operating structure, with only three employees and both accounting and geological services outsourced. "
It also listed the average number of employees for the year as 4 Executives and 1 Administration.
This TINY collective of spivs burned through £597,000 in Administration Expenses alone last year and this is a regular occurrence. Over the years they have squandered £millions and £millions on their Admin and Expenses.
In fact between 2012 and 2019 old Belly Boy raised over £16 million cash from various share issues and dilution.
In that same period he frittered away over £12 million just on Admin and expenses.
The situation is patently ridiculous, preposterous and just a bared-faced totally flagrant self-serving life-style outfit.
Anyone who still puts their money into this POS simply deserves to lose their money .
As if this were not bad enough of it's own accord, the company has now demonstrated a callous disregard for shareholders in failing numerous times to RNS key loans, transactions and events.
They agreed loans and transactions with Amulet Diamonds which were not RNS'd and which appeared in the Annual Report 5 months later.
They failed to RNS that the Steelmin venture had ceased production
They failed to RNS a £1.1 million loan to the failing Steelmin venture which was ultimately lost
They failed to RNS Steelmin going into Administration despite RRR holding a 22% stake there.
The whole thing is a total joke and has been for years. The modus operandi never changes. Just endless carrot dangling "jam tomorrow" BS to lure in mugpunters and endless issuing of shares with crony lenders like Cornhill.
Nominal share value has already been lowered from 0.1p to 0.01p so dilution could continue
Shares have already been consolidated
There will never be shareholder value to be had while ever this BOD are in place.
There are so many better shares out there to even give this lifestyle outfit a second glance
DYOR
Whatsmore - can’t even get a quote to sell 100k now. What an embarrassment this share has become. A 14 year farce from Andrew bell. Double the shares in issue from when I owned +4% of this. Every time his mouth opens its negative. If Kenya was so good the market wouldn’t have taken it negatively but they did. Should have been so positive but trust bell to likely waste more money and be incapable of actually generating tangible value so people think more of a liability than an asset. IPO delayed delayed delayed zzz like some of his 5 year delays as well.