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Hawaii - "One sincerely hopes the major shareholders at Red Rock insist things must change, it has been hinted that a new management team is inbound, hopefully Bell will be moved sideways and let them deliver the obvious value that exists in the portfolio. It MUST happen. "
You are living in fantasy land unfortunately. Were it possible it would have been done long ago by the larger shareholders. I personally believe Bell is far too canny for them and all the ramping fluff and bluster posted here is just desperate gumpf papering over that unchangeable position. They can't get rid of him imo.
This is Bell's gravy train from which many £millions are expended in Admin and expenses in epic proportions. There will never be shareholder value imo because Bell will just keep sucking value out via that route. It will never change. It's been the modus operandi for years and years. As I have highlighted many times, between 2012 and 2019 Bell raised over £16m from share issues and dilution and in the same period expended over £12m on Admin and expenses. That's patently a ridiculous situation and a losing proposition for shareholders imo. RRR is a producer of shares, little more and continues to share its bed with lenders like Cornhill (now renamed Pello) which was fined by the FCA for forward selling placing shares. Nominal share price has already been reduced from 0.1p to 0.01p so dilution can continue. Shares have already been consolidated and doubtless will be again in the future. Nothing will ever change.
Lots of "jam tomorrow" rhetoric and ramping to pull in the mugs, lots of issuing of shares, lots of money expended on Admin and expenses, rinse repeat. Anyone who still falls for this well established value destroying cycle simply deserves to lose their money. I call it a sucker share, and I know I'm not alone in that. DYOR.
I agree. I’m not a fan but in 3 months time this should be valued much higher with the Australian IPO. Then I’m out, it’s not a long term hold with this management.
Andrew Bell is living in a parallel universe, if anyone follows his personal Twitter feed you will see a diatribe of thought processes and commentaries, he even tweets such irrelevance during business hours, he even tried to stand as a Member of Parliament in the last election for whatever party Nigel Farage created at the time.
It is pretty clear he has to be moved to one side at Red Rock for there to be any meaningful capital appreciation, in a nutshell, putting it politely, he is a lose cannon. He simply itches for the next 'must do' deal regardless of whether this will ultimately benefit Red Rock shareholders.
One sincerely hopes the major shareholders at Red Rock insist things must change, it has been hinted that a new management team is inbound, hopefully Bell will be moved sideways and let them deliver the obvious value that exists in the portfolio. It MUST happen.
Bell will never accept that he is the liability, he does not care how much criticism comes his way, it is like water of a ducks back.
I think it is a good time to be in the stock as there are many catalysts to propel value nonetheless
https://twitter.com/ABell2019
You get one price if it looks like you are progressing an asset and a different price if it looks you need to get rid.
We will get a better price on Kenya if we make progress with the next bit of drilling
Otherwise, I agree. Kenya is small beer compared to the other stuff.
Bought in a few month ago, thought Red Rock has some good assets and numerous catalysts that could propel the share price higher. I still think that. But, what on earth is he talking about for about 3 paragraphs.. give me facts about the company... not a history lesson. Almost dozed off half walk through reading it.
The report reads fine. Plenty happening in the next 3 months.
My only criticism is I think they should have sold off the Kenya assets. They are trying to do too much in too many territories. They should concentrate on the assets in Australia and stick to safer territories.
Excellent maths Helpful. Thanks for your contributions.
Well he is indicating that RRR will cash or near cash assets of circa £20mil in the medium term.
Working backwards lets suppose
JMS is £3mil
POW is £2mil
Juno is £0.5mil
EOL is £1mil
He reckons £20mil less £6.5mil: so £13.5mil is coming from somewhere else. Has he implicitly put a valuation on RRAL?
DYOR
There appear to be multiple catalysts for significant share holder value creation - 3 IPO's for a start - hopefully the major shareholders will turn the screw on Bell and restrain him from further fantasies - very encouraging to hear of a new management team coming on-board, very much needed.
The assets could propel Red Rock into £100m+ company.
What’s truly useless CEO. Multiple paragraphs of total waffle about macro economics and China. If I wanted Macro research, I certainly wouldn’t get my info from Bell. People want to hear about the company, not some fluff to cover up his lack of...much, again. You cannot keep arguing the same point whilst seeing zero movement in SP. He should go. 13 years. Nothing. Great assets, potential to be a £250m company here - without Bell. Lost touch
That reads okay. Good news on EOL.
DYOR
Robins - "The interview sounded very positive but I have heard similar over the years and nothing positive ever happens. I think most people have lost faith in ABs words and he needs to get someone else to deliver updates etc"
Can only agree. Too much history here of endless dilution, capital reorganisations, preposterous expenditure on Admin and expenses. Nothing will ever change imo.
Between 2012 and 2019 RRR raised over £16m via various confetti shares issues / dilution and the like.
In that same time period they spent over £12m on Admin
Anyone who thinks that kind of situation and management behaviour is ever going to deliver shareholder values needs a "check up from the neck up" in my book.
BOD have to be removed for any substantial change to occur imo
DYOR
JMS came out with its quarterly report on Friday.
https://www.jupitermines.com/cproot/1020/3/20210326%20Jupiter%20Mines%20Quarterly%20Report%20-%2028%20February%202021.pdf
No dividend declaration as yet.
DYOR
The interview sounded very positive but I have heard similar over the years and nothing positive ever happens. I think most people have lost faith in ABs words and he needs to get someone else to deliver updates etc.
https://twitter.com/Oilplayer2009/status/1376262279281455108?s=20
Half year date was 31 December 2020.
So I guess it will be interesting Red Rocks cash position at that date. Also final results revealed $1.4 million had been drawn down on their cash facility. So it'll be interesting if half yearly reveals if Andrew maxed out the $2 million facility.
https://twitter.com/pauljohnson9691/status/1375372751565905922?s=19
I would ignore those that come on here stating this could be 3,4 or 5p in the short term. This is a good punt for any body buying now and I believe you could quite easily double your money. As a long term holder, I am just annoyed that the company isn't more self sustaining by now! We have certainly spent enough to be.... But for now, I just hope Andrew can get one of our projects over the line...
The asset he refers to in DRC and imminent drilling is Luanshimba.
The JV will be with the para-statal owned block to the west and South West. Sounds pretty nailed on to me.
DYOR
What happened to the poster called. R. R. R. He was another top ramper
I like top rampers
Juno expected to list on the ASX on 13th May - more good news for RRR
https://www.jupitermines.com/cproot/1019/3/20210325%20Notice%20of%20General%20Meeting%20and%20Juno%20Minerals%20Replacement%20Prospectus.pdf
Between 2012 and 2019 RRR raised over £16m via various confetti shares issues / dilution and the like.
In that same time period they spent over £12m on Admin
That's about all any PI needs to know and why there will never be shareholder value despite all the relentless "jam tomorrow" nonsense peddled by the likes of the few remaining rampers.
BOD have to be removed for any substantial change to occur imo
DYOR
Looks like they are going to recruit new blood onto the Board imminently - Bell talks about a plethora of near term news-flow - it seems to me that pressure is on Bell (from larger shareholders no doubt) to return some shareholder value ASAP
https://twitter.com/StockBoxMedia/status/1375072256947200006?s=20