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Says the man who was the top ramper 11 years ago, got it wrong and lost all his money.
You invested 18 months too late or ten years too early.
Try reading the JMS RNS issued overnight.
DYOR
Negativity is eminently justified because all this company ever does is dangle project carrots at hapless PIs who fall for the "jam tomorrow" rhetoric and then Bell just issues more and more shares diluting holders and destroying the SP.
It's been going on for 10+ years now and is simply laughable except that it's catastrophic for the poor mugs that get caught.
Nothing will ever change here, until and unless the entire original BOD are removed.
Money will just keep seeping away in the form of Admin and Expenses. £millions and £millions of it.
There will never be shareholder value generated to match that preposterous seepage.
Meanwhile the rest of the stock market is rising in leaps and bounds with many shares bagging. Why on earth would anyone be even giving this POS a second glance? Go invest in the retail, entertainment and/or travel sectors which were decimated by the pandemic and are recovering.
DYOR
Lots of bashing and negativity here - these days AIM is all about timing one's entry point, the junior resource space is going through a lean time recently, even 'popular' retail stocks that have CEO's far more dynamic than Bell have had drops in their share prices ranging 30%-60%
RRR will bounce if the sector bounces, all boats rise, thing is there is some material news ahead so buying at around .95p-1p looks a decent punt during these lean times, RRR being linked to POW is not at all bad, Johnson certainly knows how to promote, RRR will benefit accordingly.
Let us see, a rise to 1.5p - 1.75p offers a nice return, the sector has bounce again.
(1) In December 2020 final results it says through a Red Rock subsidiary company (RRR coal ltd') RRR took out a $2 million loan facility with YA and Riverfort. In December 2020 $1.4 million had already been drawn down. Repayments will begin over a 6 month period starting from June 2021. Where is the money for repayments?
(2,) In November 2020 RNS it says RRR had given Kansai mining a $1 million promissory note. This can be cashed in 15 months after issue. Which would be February 2022.
(3) In February 2021 POW RNS. It says Red Rocks warrant exercise date had been extended to no later than 18 May 2021. The RNS hinted RRR would be exercising their 20 million POW 1p warrants. So it will cost RRR £200,000.
At today's POW share price this may seem like a no brainer for RRR. However to me this is like a £200,000 gift from RRR to POW because with Bell also being POW chairman I cannot see him for many years selling Red Rock's POW shares. So to me it would be tied up money that could be better used elsewhere. Though I do think Bell will be finding the £200,000 to exercise the warrants.
(4) I notice recently listed Victoria Goldfield companies share prices have done appallingly since being listed. 'Helpful' highlighted Australian listed TRN a couple of days ago. They listed in January. They hit highs of 0.34 but are now 0.16. Likewise Canadian listed LVX listed in early February. They hit highs of 0.99 on first day but are now 0.38. Even the once Victoria Goldfield darling company, Fosterville South, who Helpful, Bell, Johnson once couldn't stop talking about. They listed on the TSX last year multibagging and rocketing to around $5.40. However yesterday their FSX share price was $1.14. So could the enthusiasm for Victoria Goldfield companies be waning?
(5) Bell also not attracting a partner for the Kenyan assets has been very costly for RRR. They have had to pay off millions to Kansai themselves + with no Kenyan partner they will have to pay 100% of all exploration costs themselves.
(6). Andrew Bell is in my opinion appalling at interviews and is an expert at writing boring RNSes. He was 49 years old when he first joined Red Rock. He was 66 years old in February. We have to hope when he's still in charge at 85 years old he will have got better at both.
Updated IM and IPO timetable published.
As I said Tragic, great timing.
DYOR
Useless link to move the messages down. And... here comes another.
Mr Bell has done this before. Many times. And the winner is? Why Mr Bell of course! Who'd have thought? Mind you, his trips to Kenya where he allegedly enjoys a bit of golf and relaxation being curtailed will have saved the shareholders; nothing! Who'd have thought?
https://twitter.com/HedgehogTrader/status/1374547469741256704?s=20
Deep Limon is a continuation of El Limon and subject to RRR's royalt.
https://www.somagoldcorp.com/post/soma-updates-exploration-results
"Drill hole LDDH_21_04 intersected 0.60 meters, from 358.30 to 358.90m, of milky quartz-carbonates vein with veining of sulphides mainly pyrite and sphalerite, grading 50.40 g/t Au, and 0.30 meters, from 397.85 to 398.15m of milky quartz-carbonates vein with sphalerite and pyrite disseminated, grading 23.0 g/t Au."
DYOR
https://twitter.com/VECResources/status/1106014200831213569?s=20
"VEC now has 60% of Adidi-Kanga (which has a historical resource of 3.2Moz),
Exploration Targets in the same tenements of a further 12.5-25.2Moz (which
from our preliminary review seem quite realistic"
"VEC announced an Indicated and Inferred Resource (JORC 2012) in February 2018
and this now stands at 15Mt at 6.6g/t, or 3.2Moz, and comprises an open pit
resource of 4.9mt at 5.55g/t (0.889Moz) down to 100 metres and an underground
resource of 10.0Mt at 7.19g/t (2.327Moz)"
A hell of a prize. The longer the legals go th emore likely we will end up with a deal of some sort.
Note the JORC is 2012 and so does not need to be redone.
DYOR
Interesting.
https://twitter.com/pauljohnson9691/status/1374656618542075910?s=19
DYOR
"What happened to the 0.4p a share buying opportunity......."
It's coming, its just a matter of time.
TDT
What happened to the 0.4p a share buying opportunity you promised everyone?
Still making stuff up I see, shameful as ever.
Never said iron ore assets were worthless. Simply said that it would be years and years before Jupiter ever did anything with Mt Ida, if at all and I was right. Whereas you have habitually year on year mislead PIs into thinking it was an imminent development. I still have all your pathetic ramps on that.
Kenya is of no interest. There's no mining license there only the old exploration license unless things have changed.
But again that hasn't stopped you trying to ramp the nuts off it.
2 Capital Reorganisations already performed with this share. Nominal share price lowered from 0.1p to 0.01p so dilution could continue. Shares then consolidated. Confetti continues to be issued with crony lenders.
I mean it was all pretty predictable, Bell never changes his spots and the majority imo knew it was a total POS but then things started to deteriorate further as Bell started failing to RNS key loans, transactions and events. For example :
- not RNSing loans/transactions made with Amulet Diamonds
- not RNSing a £1.1m loan to the failing Steelmin venture
- not RNSing Steelmin going into Administration despite RRR having a 22% stake there
and so on. Oldies will also remember Greenland debacle and ****e Creek.
So it's gone from a total POS share imo to something rather more nefarious. Once things like the above fail to be RNS'd you're just investing totally blind and there can simply be no trust of management as a result. It is what it is, which is for me, totally uninvestable.
https://twitter.com/markets/status/1374367850387890176?s=19
Missed you Tragic. It is more fun when you are in here constantly getting it wrong. You coming back with your deramping is a buy signal.
Remember when you said RRR wouldn't get Migori back? Remember when you said the iron ore assets were worthless? Remember when you said RRR wouldn't get the Victoria licenses? The list goes on; likely by the end of next week you will he shown to wrong on something else!
DYOR
DYOR
My post was tongue in cheek. I was expecting some to say that I didn't speak on their behalf. :)
lols at the fanboys
I never left. Just watched from the side-lines over Christmas and during the lockdown.
Same old relentless ramper pegging away with the same old Billy BS material. Nothing changes nor will it ever do so.
Can't be many mugs left to pull into this POS.
Bell will keep adding more and more shares, raising cash and spending tons of it on Admin. In time he will do yet another share consolidation and rinse repeat.
It remains nothing but "jam tomorrow" carrot dangling projects and ventures which never come to fruition and meanwhile the money keeps seeping away in the form of Admin and other things that add no value to shareholders.
The markets are flush with good shares at the moment making huge recoveries. Baggers galore and in reputable companies that are well loved and supported. If you can't make great money there then there is something wrong.
DYOR
I know occasionally we have squabbles on this forum. But on some rare occasions we can all come together. This is that rare occasion. :)
So I think I speak on behalf of everybody. It's good to see him back. :)
Is back. He is posting on the CCL board today.
Interesting. Cheaper, more accurate and does not affect the surrounding environment. Likely could be used in occupied areas without the locals getting too upset.
And of course, don't forget this....
https://www.londonstockexchange.com/news-article/RRR/right-to-acquire-loans-and-arbitration-funding/14799757
Still left field but the longer it takes the partners to force a legal solution the more likely it is that a business solution will be required. RRR is sitting pretty and if a deal is to be done, it can only be done with RRR's agreement.
DYOR
In earlier interviews on Kenya Bell often mentioned he'd have no problem attracting partners. In this interview after the 3 minute mark he briefly mentions the Chinese. https://m.youtube.com/watch?v=MVUjrfZEGY4
Here's a photo:.
https://mobile.twitter.com/RRR_RedRock/status/1138109907809579011
At the 4 minute mark in this earlier proactive interview he briefly says "we have potential partners lining up". https://m.youtube.com/watch?v=sN0qEQc-Epg
After these interviews the gold price surged leading up to the Kenyan licenses renewals in August 2020. Yet Bell still couldn't attract a new partner in Kenya. Which meant $3.5 million paid to Kansai + RRR will have to pay all new exploration costs themselves.
In September 2020 Bell posted on this thread so I asked him if the $2.5 million payment to Kansai that was mentioned in a 2018 RNS still had to be paid.
The top post in his profile was his response:. https://www.lse.co.uk/profiles/andrewrbell/