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of advice for any newbies looking in here ... do not buy you will get bummed without any lube whatsoever , its a lifestyle company like no other
I wouldn't be surprised if near the end of the year poster 'helpful' Stephen Lundy says " I rolled the £million loan over yet again because of the name 'blue whale'. Why do you think they named it that? Think about it. Dyor"
.........
On another matter I doubt cash hungry Bell will be pleased with the 0.75 cent Divi that JMS have just announced. I believe that is Aussie cents so that amounts to just 0.39p. So according to my non calculator rough calcs that means RRR will get near £70,000.
That is much less than usual and that will not be paying Stephen Lundy back or supporting Andrew or Scott wages. So no doubt very unhappy.
Ironic really as "Blue Whale" is the habitual answer of the "idiot" on the popular QI quiz programme. The hapless bumbling fool in a world of high brow information who is clueless and can do little but shout "Blue Whale" at every opportunity which is always the wrong answer. There is a certain synergy here with RRR with the vast array of tiny projects Bell sticks his fingers into saying "this is the next great project" where every such project comes to nothing and whilst he continues to issue confetti, dilute shareholders, take a nice salary and expend £millions on admin and other expenses.
Yes, Blue Whale very apt and I suspect will become an habitual term here with every subsequent project being called "the next Blue Whale". There have been so many "Blue Whales" here.
Greenland - on sale for 10m but was sold off for just £1
El Limon Gold Mine - practically given away and a useless royalty that will take countless years to recoup
Ivory Coast - applied for 3 licenses which never were granted, bought 3 existing licenses instead, project went nowhere
Jupiter Mt Ida - Project mothballed indefinitely, royalty useless
Shoats Creek oil - a complete failure that was written off
Steelmin - a complete failure that went bust
Kenya - license was revoked, lots of court wranglings, waiting/hoping for another license to be granted
It is one long trail of "Blue Whales" and company losses.
As always I'm not remotely tempted by today's RNS which I see as just another useless project venture.
DYOR
Blue Whale is the name of a multi million dollar investment trust. I hope that won't confuse potential investors.
The RNS states they applied for an exploration licence. Surely they would have to provide evidence of their financial strength? That could be difficult.
is supposed to plant into investors mind that this POW/RRR joint project will be HUGE. It must have taken Andrew Bell and Paul Johnson a few moments to think that name up. Though as time passes I wouldn't be surprised if it comes to be known as the 'stickleback' project.
Lse are not yet showing today's RRR RNS. On proactive investors website it says:
"Power Metal Resources Plc (LON:POW) and Red Rock Resources PLC (LON:RRR) have begun a new joint venture partnership with the aim of building a strategic gold exploration portfolio in Australia.
It sees POW taking a 49.9% interest in the Red Rock Australasia, which as a joint venture vehicle will be renamed.
This vehicle has now already applied for exploration license area EL007271, with POW covering the application fees (£1,125). This asset is being referred to as the ‘Blue Whale’ project."
Both players have $10,000.
Player one takes his entire $10,000 to play it in a cash game.
Player two uses strict bankroll management were he is only willing to risk 1/50th of his entire bankroll in any one cash game. So he buys in for $200 at a smaller limit cash game.
Poker experts would say that player one is much likely to go bust (probably that night). Conversely they would say that player 2 more conservative bankroll management is more likely to succeed.
.....
I guess investing in shares that would be the equivalent of a person sticking their entire $10,000 in one company; the second person would be investing smaller amounts in lots of companies.
I'm sure investment experts would say that the person who invested $10,000 in one company is much more likely to go bust.
Mr Magic, to your 21.42 post.
What is considered a tiny investment to others may be considered a big investment for that person investing. So we can't judge whether a person is confident by the size of their investment. I mean somebody may start investing in shares with £500, so we can't say to that Investor if you don't hold over 3% in the company that you've invested in then you are lacking confidence in your investment. Of course that would be silly.
Mr Magic, I see RRR like a 3 legged horse with a useless fat jockey Andrew on top. So if someone went into a bookies and bet £424 on it I would think that was a reckless big bet.
Back to my earlier post. You see many say they lose big in their first year on AIM and once they are more knowing about AIM they start to slowly claw back their first year losses. So these days to newbies I would say keep it small until you learn.
Nothing wrong with investing small amounts Zumore no.
But going on to share chat board to broadcast one's purchase in the obvious hope it will spur others to do likewise is just lame especially when they've shown very little actual confidence themselves in only investing a tiny amount.
Mr Magic, in regards to the £424 investment. I recall a couple of years ago somebody posted on one of these threads saying they were new to investing. They said they were beginning with £500 and they had invested £50 in 10 different companies.
Knowing what I learnt about the perils of AIM I thought that was a sensible strategy to begin investing on AIM. Too many of us foolishly began investing on AIM with big amounts and then our investments severely dwindle and then we regret we didn't begin investing on AIM with smaller amounts so we could learn the harsher realities of AIM with not too much risk.
So no criticism from me on the £424. As we know we've seen the occasional person investing around a million in RRR and I recall they said they ended up with a tenth of that original investment.
So to sum up, nothing wrong with beginning with smaller amounts on AIM.
lol CDF. £424 quid . . . massive confidence !
There's no luck involved here. The established MO of the BOD is very long standing and results in the same SP destruction over and over. Endless confetti issued, £millions expended on salaries, admin and other expenses.
The Annual Reports do not lie:
2012 - Loss of £1,962,882 --- raised £4,441,844 - Admin £2,275,786
2013 - Loss of £22,105,562 -- raised £4,103,795 - Admin £4,751,948
2014 - Loss of £4,113,460 --- raised £2,723,861 - Admin £1,563,808
2015 - Loss of £8,411,541 --- raised £2,327,377 - Admin £1,334,404
2016 - Loss of £283,280 ----- raised £1,155,323 - Admin £758,351
2017 - Loss of £1,114,213 --- raised £300,000 --- Admin £644,688
2018 - Profit £78,120 ------- raised £421,668 --- Admin £849,518
2019 - Loss of £1,723,881 --- raised £853,089 --- Admin £591,777
Total Raised - £16,326,957
Total Admin - £12,770,280
What a joke !
Clear to see where all the money goes. Consequently it remains for me totally uninvestable.
DYOR
+ 200,000 shares
GLA
All on the way up.
Copper bouncing back from lows...
https://markets.businessinsider.com/commodities/copper-price
Andrew Bell is a career Aim spoofer, of which there are many.......might do better with Kefi a near term gold producer with projects in Ethiopia and Saudi........just a thought...
Hi CDF. Most would agree that RRR was a poor investment decision. It certainly was for me.
I recall investing in RRR in 2013 and I calculate if I had held all that time (I didn't ) my investment would now be 150 times smaller.
These days i have no confidence in the ability of RRR chairman Andrew Bell. Yes he makes good money at RRR but he never delivers and this share price always gets smaller. So I don't think RRR is a good investment.
......
Lots of the top FTSE companies have plummeted in price over these past few months and most would think in the long run many of their shares prices would rebound. So I would look at them for a more safer investment.
Thanks to all for the tips & advice.
Will do my own due diligence in future.
Sorry to have bothered anyone.
GLA
lol CDF Nice try . . . no cigar
One glance at the 10yr chart here tells people all they need to know imo
https://i.postimg.cc/sxCKGZCS/RRR2020-10yr-Chart.png
lol CDF nice try, no cigar
Did you not take a look at the 10yr chart here?
https://i.postimg.cc/sxCKGZCS/RRR2020-10yr-Chart.png
Nuff said
Hi
I’d take a look at the Gold producer Hummingbird Resourses
DYOR
I would recommend you read the past RNS's, say over the last 7 years. Look at the Greenland history, the Colombian Gold Mine, Steelmin, etc. etc. This should give you enough information for you to be able to make a judgement.
I for one wouldn't. This share has cost me thousands with its constant "jam tomorrow" strategy.
Good Morning,
I'm fairly new to this share investing malarkey and it only came about due to shockingly low bank interest rates.
Currently invested on this share holding 100,000 at a total cost of £500, these were purchased in Dec 2019.
With bank interest continuing to fall I like all am looking for the best investment opportunities, whether that be increasing existing, or looking for new opportunities.
My current exposure to this share is small BUT with sound advice I may look to increase.
On that basis would anyone else on here recommend this share as a solid long-term investment?
All feedback would be most valued & appreciated.
Thanks in advance.
We'd be ok if only we could unlock the Greenland money from the Cypriot bank.
Hello chaps, been a long time. How's the investment going ?