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Https://www.proactiveinvestors.co.uk/companies/news/214006/red-rock-resources-completes-first-phase-of-work-at-musonoi-mine-214006.html
See slide 13
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.rrrplc.com/wp-content/uploads/2020/05/2020_RRR_AGM_Presentation.pdf&ved=2ahUKEwjv9NWUqKGFAxX5TkEAHfryANI4ChAWegQICBAB&usg=AOvVaw3mWLdLN15l9MyhAP2OClmb
DYOR
Helpful at 15:44, London South East Red Rock Resources, Mon, 1 Apr 2024 [Public Holiday/Stock Mkt closed].
Thank you. I do recall that RRR used Geo's.
I love it: "THE $4BN IS BASED ON THE ESTIMATED VALUE IN THE GROUND AT MUSONI. ESTIMATED BY BOTH GECAMINES & RRR GEOLOGISTS: STATED SEVERAL TIMES IN THE PUBLIC DOMAIN." -Verbatim.
Also, "That excludes the other licences but more importantly refers only to the oxide body and not to the sulphide body. Further, the Musoni licence was only partially drilled: likely it extends further and there are two undrilled targets on the licence." -Verbatim.
Also: " Any claim would be substantial: what the court would award is up in the air but no way it would be less than $205m with interest." -Verbatim.
Ref: RRR DRC ARBITRATION AND INTERNATIONAL ARBITRATION POTENTIALLY. Ref: RRR RNS 28 Mar 2024 [1/2 yr report: "DRC Legal Action]. COMMENT: SO , ZUMORE et al ---RRR Geo's & Gecamines: "Estimated by RRR Geo's and Gecamines.." Gecamines is the DRC state mining co. Why $205m plus interest? $205m is HALF of $430m approx. and interest is norm in international arbitration. APOLOGY to Zumore for what? For quoting out of a broker report? If not satisfied, rings Gecamines and RRR geo's. DYOR. NIA. 1 April 2024 Mon, Public Holiday & Stock Mkt closed.
-------------------ENDS ALL CONVO.--------FACTS ABOVE + RRR RNS/s.------------Please read---------------
Apologies
I left out a word , it should read '... you have NO idea ...."
Specinvestor99
You want results. What sort of results? Example: GGP now owns 30% of Havieron. They are still trying to drill other prospects with JV with Rio as well. What results? Only result is 30% of Havieron, a gold prospect. Solg- they spent over $300m in exploration etc [they tweeted this themselves but it is IN THEIR BALANCE SHEET] and the gold /copper projects are ALL they have and NO CAPEX or PRODUCTION START yet which is the same for GGP. So, what results do you want? How do you determine value? ALL STOCKS DISAGREE WITH YOUR IDEA of value surely? Yes ? No? Up to you what your view is but the market has other rules ie LIFE-CYCLE OF A JUNIOR EXPLORER and LASSONDE CURVE. DYOR. NIA.
News, the $4bn is based on the estimated metal in the ground at Musonoi. Estimated by both Gecamines and RRR's geologists: stated several times in the public domain. That excludes the other licences but more importantly refers only to the oxide ore body and not the sulphide ore body. Further the Musonoi licence was only ever partially drilled: likely that it extends further and there are two other undrilled targets on the licence.
Any claim would be substantial: what the court would award is up in the air but no way should it be less than $205mil plus interest.
DYOR
Specinvestor99:
Woah!!! ASSETS IN THE BALANCE SHEET OF A LISTED CO UNDER THE LONDON STOCK EXCHANGE REGULATORY FRAMEWORK is NOT ----FACT???? Woah!!! LoL. Heard of auditors? Not going to answer anymore.
Why? Waste of time ie semantics. Solgold has copper & gold asset at Alpala -they have just tweeted the M & A price for copper quoted at 6c per lb and this is known in the industry. So, stock is being re-rated due to the rising copper price --this is news. Similarly, RRR has Kenya @1.2moz gold JORC @$30 per oz, that equates to $36m in M & A valuation and this is standard analysis. WHI Ireland likes or from what I read, they do in the ground valuation for co's eg Mankayan.
Zumore: YOU STATED YOU EXPECT AN APOLOGY? FOR? I STATED THE RRR BROKER NOTE STATED : $430M SOLD ON of RRR asset and asked you to check. You initially stated that was a "LIE". It is in black and white. What you chose to interpret from that is up to you. I dont owe you an apology - you owe me one. FACT.
specinvestor99
A/c to the RRR RNS, 28 Mar 2024 ["1/2 year report [a/cs]: they have already stated RRR consulted UK LEGAL COUNSEL re: DRC arbitration and that their rights are established kinda of thing. I THINK YOU SHOULD READ THE RRR RNS under the title: "LEGAL ACTION IN DRC."
WHAT? RRR NOMAD HAS NOT SEEN ANY LEGAL DOCUMENTATION eg Award Draft? Not norm is it? I am NOT stating anything that is NOT in the RRR RNS surely? RRR Broker /s --did they ALL NOT MENTION RRR DRC LITIGATION.
If I see a legal counsel and it is a big case, would one NOT receive a LETTER/EMAIL relating to the OUTLINE of their advice? It is norm isnt it? So, ya mean to say, RRR consulted UK LEGAL COUNSEL and there is NO DOCUMENTATION IE legal proof and evidence?
BLUEBOY1975 - he was on all night. He has disappeared.
Now , it is ZUMORE.
Now, it is BANBURYBOY speaking to specinvestor 99.
I am 1 person taking on loads of posts , ALL OF WHICH IS IN THE RRR RNS/s so, kindly read and if NOT SATISFIED, ring the NOMAD. ZUMORE - I SUGGEST YOU ASK THE RRR BROKER AN APOLOGY IF YOU WANT ONE.? Apr 1 2024, Mon. Public Holiday and Stock Market closed. Not fair that there is only 1 of me vs so many all at once coming on.?
Re ASSETS
quote from News "ASSETS are FACT. PROOF & EVIDENCE"
Dictionary definition property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
Agreed that there are numbers on RRR's balance but is there any 3rd party evidence that they have value?
Have there been any JV or sales to support the dictionary definition?
Reality check- there are valid reasons for the low RRR share price. As a shareholder I dont like it but reality is staring me in the fact. Long meaningless posts will not change why RRR share price is down.
RRR must deliver results
INTERNATIONAL ARBITRATION:
RRR RNS, 28 MAR 2024 : "1/2 YR REPORT":
States clearly, UK COUNSEL was asked about DRC arbitration before embarking on this course -now several judgments are in favour of RRR and awaiting payment of US10m [total was $20m of which only $5m was paid to VUP, RRR's JV partner of 49.9% with RRR owning 50.1%]. International Arbitration: Counsel has already been consulted and per Helpful, counsel said per Treaty of Rome, it has to be London or Switzerland for the hearing.
INTERNATIONAL ARBITRATION:
Non one knows yet the CLAIM as that has to be accompanied by a Investment Bank's Valuation Report as norm.
Suffice to say, Gecamines ONLY PAID US$5m [out of the $20m] to VUP, RRR's 49.9% JV partner @DRC Musoni asset].
Helpful said that a/c to in the ground , it is currently US$4bn.
So, will the International Tribunal not hear that a $430m MUSONI ASSET to to the major was done via a payout of only $5m to only 1 JV partner but NOT RRR, the major holder of 50.1%? ALSO, ISNT IT RICH THAT A $4BN IN THE GROUND was sold and only $5M PAID thus far? Me thinks it is open and shut, just on this 1 point alone. ? NIA. DYOR.
1 Apr 2024 [Public holiday and stock market closed.]
I am very low on Battery so i will respond later.
I expect an apology. 😐
What progress has been made on the two points you raised?
1) DRC asset litigation
2) International arbitration
A reference is made to "Law 101 International arbitration' but this law does not exist and even if it is mean as general reference you have idea that an actual law firm engaged by RRR (which has NOT been done) would make a claim even remotely connected to this concept
Even if you studied the law or perhaps even practice law in the UK you dont have the information to provide legal advice to RRR, unless you are an insider.
Discussion about $430m RRR asset sold on [RRR has a 50.1% JV in DRC asset Musoni] on this forum.
So, Zumore said that the international major's LEGAL TEAM checked ie "MADE SURE THAT GECAMINES LEGALLY OWNED ALL THE LICENCES." & "a subsidiary of G: AFTER ALL, THEY BOUGHT THE LICENCES FROM A GOVT OWNED CO"
IS THAT THE LAW ie buying a asset that the other JV PARTNER OF 50.1% WAS NOT AWARE OF? May I remind that RRR in having 50.1% is the majority partner or operator per industry practice. So, RRR the 50.1% JV PARTNER WAS NOT ASKED, CONSULTED OR TOLD THAT it was being sold and the buyer has acquired GOOD LEGAL TITLE? Oh, wah? In England, that is a bit rich, wouldnt anyone say so? DYOR. NIA.
Even a kid knows one cant sell what one does not own 100% - is that taught in school?
Zumore:
So, you now CONFIRM that the RRR broker note does STATE: US$430m. Your suggestion it is from A.Bell is up to you. As I have stated before, we are living in the UNITED KINGDOM, not some no law regulatory environment. You are free to think what you like but the above is in BLACK AND WHITE , as contained in a RRR Broker note and the broker is a broker to RRR in addition to the NOMAD. Perhaps, you may think that in the UK, everything is based on one's word and LEGAL EVIDENCE AND PROOF is NOT REQUIRED. Even if I want to speak to the Mgr of the Bank or before I can transact above the norm, I have to SHOW AML proof. Even the broker has to do AML etc checks.
RRR RNS, 28 MAR 2024:
It mentioned "several millions" did it not relating to the RRR DRC asset [JV]. So, is US$430m NOT "several millions" ? May I also respectfully remind you that you said "$430m" was a "LIE" --------now you have checked for yourself the RRR broker note and it is NOT SO, isnt it? So, I take a implied apology.
LAW101
You appear to be NOT conversant enough of Law 101 international arbitration and DRC asset litigation in general and in particular + 2 SEC & SFO investigations etc. This is GENERAL DRC background law precedent cases - Pinsent Mason gives a guideline as well on DRC assets etc which I have posted. It is ONLY your opinion that RRR'S JV PARTNER "SURRENDERED" the licences to Gecamine and US$20m. You call it "AMICABLE TERMINATION." How CHARMING? Why? Oh, I own 1/2 a house with my sister and I surrender it to a buyer? Well, if that is what you appear to understand, then it is NOT LAW in the UK that one can "surrender" what is NOT 100% the owner's. So, the international miner that bought it has DONE "NO WRONG" a/c to you. Then, you should read AVZ [largest lithium deposit in the world]. AVZ of Oz has already got an INTERIM WIN. DRC took back the LICENCES and another major is going to develop it last I read. AVZ international litigation is into the FINAL ROUND ie both sides to present but it is rather clear what will happen or NOT. If someone sells their sister's 50% share of a house, they dont own, then the BUYER has not got good TITLE and is subject to litigation. RRR HAS CONSULTED UK COUNSEL on both DRC LITIGATION AND INTERATIO;NAL LITIGATION -refer RRR RNS, 28 Mar 2024 [1/2 yr report]. Maybe, you are of the opinion, NO LEGAL EVIDENCE HAS TO BE SHOWN and its is hearsay but that is up to you. DYOR. NIA. Mon, 1 Apr 2024 [Public Hol, Stock Mkt closed].
Banbury I agree that RRR is far too small of a market cap company for any meaningful short selling yet despite that obviously flaw multiple posters have been posting about short selling hurting the RRR share price.
To me the more obvious reason for a low RRR share price is the failure to deliver any meaningful results
Banbury, i think Oilplayer started the short selling conspiracies last year. Red Rock thanked him.
https://twitter.com/Oilplayer2009/status/1726626213714858442
Of course Bell could later repeat this because it gave him an excuse for the poor share RRR price.
Yes to state the obvious--short selling has risks Yes there are multiple of short selling which has failed
But the point of my post was that for the past several years selling RRR short was successful (for reference please look at stock performance for past several years)
Yes selling short a company drilling a tier 1 asset is risky but is that RRR is doing right now?
And if RRR is not drilling a tier 1 assets is short selling a viable strategy for RRR?
Speculative RRR is far too small for anyone to consider short selling. H5O is a complete fantasist. Bell knows that full well and is clutching at straws.
Zumore - seems logical. The larger claim is in my opinion hyperbole with little or no prospect of happening. More distraction as nothing happening on the $7.5m
Helpful suggested this week so that would be nice. I allways said I thought DRC might be dead. If nothing happens soon its clearly on life support.
Meanwhile in RRR land short term debt is burgeoning.
Helpful never answered numerous questions on the accounts. Reason there is no answer its truly dire.
Before expounding the so called "virtues" of SHORT SELLING especially a stock like RRR, put the whole picture forward, that one can lose one's shirt ie house [well known]. This is a general warning to all short-selling. I have never done even a spread betting short etc and will never do so for obvious reasons and it is not quite moral. ?
As for RRR, the exaggeration can be very dramatic as it is a small mkt cap relating to shorting. Always put the WHOLE PICTURE, not just a 1 sided pic. There used to be 1 short seller in the UK who self-styled himself "BRITAIN'S MOST FEARED SHORT SELLER" - ah well, not one word these days. He short sold Solg and made this public and the rest is history - 101 says never to short sell a co that is drilling a potential Tier 1 - Newcrest invested at a huge premium and the shares SHOT up dramatically. BHP then followed up and the rest is history.
News you responded to me the other day regarding the supposed $430 million sale.
I looked at that brokers note and it says: "Red Rock understands that they were sold on to
an international mining group for $430m"
In other words "Andrew Bell understands". Now Andrew can understand as much as he likes but it doesn't mean it's true.
.....
This years RRR half yearly says:
"in December 2019 our 50.1% owned joint venture assets in the Democratic Republic of Congo were signed away behind our backs for $20 million to an initial buyer and then immediately sold on for several hundred million dollars to a further party"
In an earlier RRR rns it said VUP had voluntarily surrended a number of JV licences with DRC government owned Gecamines. In return for this amicable termination Gecamines would eventually compensate VUP with $20 million.
To match up with the half yearly VUP signed away the licences 4 December 2019.
....
Now Bell says once Gecamines had acquired the licences they immediately sold them on to a Glencore subsidiary.
From my reading government owned Gecamines legally acquired the licences. Once they outright owned the licences they then sold them on to a Glencore subsidiary.
Yes Andrew Bell can have conspiracies but what did the Glencore subsidiary do wrong? Afterall they bought the licences from a government owned company.
Now from matching the December 2019 dates this is highly likely to be the Glencore RNS that outlines the sale of the Gecamine licences from Gecamines to the Glencore subsidiary.
https://www.lse.co.uk/rns/GLEN/katanga-announces-agreement-to-acquire-land-rights-fv11cerfyb01a1p.html
I'm quite sure before the eventual deal went through the Glencore legal team made sure that Gecamines legally owned all the licences.
So in my opinion this $400 million compensation talk is a nonense.
One very big FACT that cannot be ignored. It is called SELF-REPONSIBILITY:
If one picks a stock, any stock and it has LOST 4-5%, it is time to CHECK in particular, in general and the market sector which includes macro and micro. The alarm bells have started to tingle.
IGNORE: The stock may slip 10%, then what? Is the fall relative to the sector or market in general/particular? Warning bell #2 has sounded.
IGNORE: Well, it could be TOO late if it has gone to 90% fall because in the history of prices, a mining expert on this site said it could go even further down. So, procrastination is up to self. 10% loss, one can still recover but HARD at 90% plus especially those who put EVERYTHING in 1 stock. I wont mention names but I decided to check 1 poster's history and I note that he posted on another stock and it would appear he IS --ALL INTO THAT STOCK. Again?
LOSSES:
Whoever has dabbled in the stock market would be not telling the whole story IF they say they NEVER lost. Even Warren Buffett's 1st investment lost almost 50%. Recall he had to borrow etc... So, LEARNING is free. QUEEN ELVIS on this site who was a poster said: go round and follow stocks cos its free. What she meant was learning is free before one plunges in and makes a mistake that cannot be corrected.
SCHOOL: I learnt to take responsibility. AMERICA: They have a winner's mindset. If they lost and many have done so, they get up and try. On ADVFN, there was a discussion and some said that is what they did exactly ie try to recover their losses, of which they have done so. A poster called Count....said he had to take a job and save $10k to start all over again. So, if one concentrates on losses ie time, health spent on forums, it cant BRING BACK THE MONEY. So, its best to re-assess. Hopes that clarifies and helps. Mon, 1 Apr 2024 [Public holiday & Stock market closed].
Posters are missing the obvious point about short selliing
-Selling short is a viable investment strategy
-In RRR shares short sellers can profit by the long historical record of RRR not delivering meaningful results as well as RRR frequent raises for cash in particular debt instruments which everyone knows has to result in more shares being issued
Let us differentiate between LITIGATION & share price performance. Why? Both are NOT based on the SAME principles of Law 101.
Oilplayer2009 : Whoever this poster on Twitter is and who he MAY be on this forum is irrelevant.
RELEVANT:
The PAST is NOT relevant to the current which is based on ASSETS [minus liabilities] of RRR - this is the cornerstone of ALL stocks, be they junior exploration OR FT co's. This is FACT. Personal financial position: Also based on Assets minus liabilities -see Probate Court Document which has a Asset/Liability Valuation Report that has to be submitted. All else is noise. However, if one thinks a CEO is great, not so great etc, all are FREE to go to their favourite CEO etc.
Solgold is in the process of upward re-rating based on its ASSETS [they spent over $300m on exploration etc and they tweeted this themselves but I had ALREADY CHECKED THE BALANCE SHEET so I was well cognisant as one has to check mkt cap vs exploration cost to get to X ozs of gold , Y lbs of copper etc. It is called the MIS-PRICING MODEL.
JOE PUBLIC, JANE PUBLIC:
Is Oilplayer2009 of Twitter STILL INVESTED IN RRR today [even though a public holiday, one can still see one's a/c ie whether one does HAVE or DOES NOT HAVE RRR shares?]. Is Zumore still invested as in have RRR shares today ie public holiday. IF ANSWER IS YES, WHY? On the comment about salaries etc, there is NO BREAKDOWN and Black Scholes model is the norm. Any court case is not just about performance etc [needs a more specialised report and Player2009's tweet will NOT be accepted as EXPERT REPORT as he is not a Court recognised expert witness ie a big name/firm that can produce court reports etc] but rather on defamation etc. Big difference in Law 101, I am afraid but that is not for us to say as I am NOT subject to it at all.
Ref: Red Rock Resources RNS, "HALF YEAR REPORT" dated Thur, 28 Mar 2024. Under the sub-title: "DRC LEGAL ACTION" and opening Chairman's statement refers to the DRC legal action in Kinshasa and OUTSIDE DRC. In my post below, I mentioned what the RNS of 28.3.24 stated via para phrase [to be checked with verbatim].
?
NO ISSUES WERE HIGHLIGHTED RE: DRC LEGAL ACTION , RRR RNS, 28 MAR 2024 [1/2 YR REPORT/A'C'S]?;
It is my view that NOT only did the NOMAD review as norm the above RNS especially relating to the DRC legal action and beyond ie outside DRC, it may also have been reviewed by legal counsel [RNS type] also norm oft times.
ANDREW BELL, CHAIRMAN, RRR TWEETS:
"The issue is that one CANNOT make public statements about EACH meeting.
THERE IS NO CHANGE IN OUR GUIDANCE."-28 Mar 2024 in reply to Sharedycat1, shareholder of RRR re:RRR DRC.
[2] "DRC update is indeed due and promised. Obviously, I did not spend a week there for nothing. Did any party get paid? No. So given they want their money TOO you should suspend judgment and assume a S O L U T I O N is COMING." - 28 Mar 2024 in reply to 3 shareholders.
[3] "NBGC is about PACKAGING the project to ADVANCE it." -28 Mar 2024
[4] "Understand but in fact, we SEE there is NOW A C O N S E N S U S --on our RIGHTS--- and we are ensuring we separate our issue FROM those of OTHER PEOPLE, so modalities."-28 Mar 2024 in reply to shareholder who attended RRR AGM on 16.2.24 via Q asked re: Lawyer needs paying -What is happening in DRC.
Conclusion:
Taken together with the RRR RNS, 28 Mar 2024 [1/2 yr a/cs] , can we read OR NOT, that the payment is NOW at Gecamines ie a demand for payment? Why? RRR RNS 28.3.24 does not HIGHLIGHT any issue/s but instead mentioned state miner which will be Gecamines who is the payer of the US$10m of which there is a "consensus" as above? A discussion or if anyone can ask Mr Bell if we holders have got it RIGHT or wrong on the general and the particular from the said RNS on "Legal Action in DRC"? Thank you. On RRR Australia, gold prices bode well for any deal/s etc? Mon, 1 Apr 2024 [Public holiday and stock mkt closed.]
Here's a couple of tweets from Oilplayer2009 who goes by the name of Hawaiifive0 on this forum.
On 28th March he was calling Red Rock management "fantasists" and calling for Red Rock board of directors change. He tweeted:
"They were supposed to be selling/monetising projects - instead what do they do ACQUIRE more (re New Ballarat Gold) - how on earth can this be justified with a barren treasury - £250k blown in Zim on Lithium now stored in a warehouse - fantasist management - #RRR needs BOD change"
https://twitter.com/Oilplayer2009/status/1773261182826151960
....
In 2022 Oliplayer2009 did another post highlighting the utter share price destruction under RRR chairman Andrew Bell.
https://twitter.com/Oilplayer2009/status/1600884228085932032
He said a £1000 RRR investment in 2006 would be worth just £14 in 2022. In 2022 the share price shown was 0.37p. So according to his calcs £1000 invested in 2006 would be worth around £2 today.
Also he highlights that since 2006 RRR had spent £10 million on Board of Directors salaries and listing fees. Also says from 2006-2022 Andrew Bell of Red Rock had raised £25 million.
Of course even more fundraises since then.
Let's be honest Andrew Bell is a money grabbing chancer who is milking this for all it's worth. He offers nothing to shareholders except misery. I'm sure he has no retirement plans and will milk this for everything it's worth until he is a very elderly man.
Can you imagine with all his share price destruction over the years if he dared to take somebody to court in 2024? 🥴 It would be preposterous and i'm sure a few journalists would be more than happy to tell the story of Andrew Bell and the share price destruction under his RRR reign.
They might even use your tweet Oilplayer/Hawaii to hightlight the utter share price destruction under RRR chairman Andrew Bell.
Peter Schiff [Chief Economist & Global Strategist] : "Gold is continuing its RECORD RUN tonight.... Gold is not just another commodity. This significant rise HAS MEANING...WARNING BELL GOLD IS SOUNDING..." -11 hrs ago, 1 Apr 2024 https://twitter.com/PeterSchieff/status/177459684386785158 ["Gold is up over $30 now, trading at $2,264"-8hrs ago]
The legendary Robert Friedland : "Financial Times reports "Traders bet on supply SQUEEZE pushing up copper prices. Elevated mine supply disruptions point to a deficit of 700,000 tonnes and should start to feed through to refined production too, said MORGAN STANLEY in a note, predicting $10,200 per tonne by the 3rd quarter." -1 Apr 2024 https://twitter.com/robert_ivanhoe/status/1774672462946693184
Lots more - too many to post. Suffice to say it bodes well for RRR Australia [Victoria]. In terms of RRR DRC Award Arbitration, Mr Bell, Chairman of RRR said staff in DRC & Burkina working over the Good Friday & Easter Mon and he is working on/off on the public holiday. The RRR RNS: "1/2 yr report" [accounts] dated THUR, 28 MAR 2024 in FACT does NOT state issue is ongoing [?] but RATHER THAN THE STATE MINER has stated in the Arbitration Court via their Counsel that they will pay? Then, it goes to say, per the RNS, that payment...timing..hence may have to make other plans eg...? [all para phrased as I dont have the RNS in front of me but I thought about it last night.] UP TO EACH ONE TO READ THE RRR RNS VERBATIM ON THIS & WHAT WAS SAID/STATED etc. Interesting. Mon, 1 Apr 2024 [Public holiday in UK, mkts closed.] DYOR. NIA.