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13.33% down today. lols !
Looking pretty obvious what all the round trades are imo. The savvy will surely know.
I missed this..
https://mailchi.mp/81bb4418a98d/10wc5u22ur-3817693
A quick look at the trade list shows that since 10th Feb there have been quite a few round trades (shown as sells) at 0.35p/0.36p
200,000 - 198,000 - 400,000 - 498,000 - 448,000 - 200,000 - 275,000 - 200,000 - 2,000,000 - 250,000
Someone trying to dump their holding ? indication of an imminent placing? Anyone?
Thanks for your detailed advice. I sold out a couple of years ago and glad I did. I now avoid these micro caps companies unless they have a shed load of cash or something very special. Imo most are lifestyle companies who must continually have cash to survive.
Same old SuperRoty
Looking at the trades today I see round trade sells at 0.40p and then more at 0.36p. Doesn't look good to me. If there is a confetti placing then I guess it will be around 0.30p or worse.
This for me is a dire company that just dilutes and dilutes with a BOD that take silly money in director salaries and admin and other expenses and a BOD who simply can not be trusted either as they have repeatedly failed to put out RNSs for key transactions and events.
The recent Annual Report (to June) highlighted the poor situation.
Cash in bank was £64k
Total Liabilities were £2.8m
Admin Expenses were £591k
The £1m+ outstanding Convertible Loan Notes were due for repayment last Dec 19th and had already been rolled over for a 2nd year at that point. They were not paid off and instead are now rolled over for a 3rd year.
With the best will in the world I can not remotely see any investment proposition here whatsoever.
On top of that you have some of the large holders (some who post here) saying they might take RRR private . . . . !!
Hence for me it's a total barge pole avoid. DYOR
So it's a mega dilution or game over. :(
GoingGoingGone - "This second disposal of RGM shares in the last few days ,Simply shows that their all out of Cash !"
Totally agree but it was already obvious to anyone doing their research.
Last year they pawned off 1.5 million of the "crown jewels" Jupiter shares to raise some cash (about £300k) and failed to specifically declare that they had done this to shareholders and markets. Shareholders had to spot it themselves from 2 separate update RNSs which mentioned the Jupiter holdings and realise the numbers were suddenly different. These were the RNS of Aug 2nd and then one a month later on Sept 9th. They clearly hoped to keep it under wraps but as always there are numerous eagle eyed investors here who spot all these ridiculous antics. In not directly RNSing that sale of Jupiter shares we equally had no statement of why the cash was being raised by pawning Jupiter shares and thus we can only conclude it was to, as ever, fund the trough for director salaries and admin and other expenses.
This continuing trait of this BOD refusing to update shareholders on key transactions and events I find personally utterly despicable and it simply means you cannot trust this BOD at all. They previously failed to RNS loans and transactions with Amulet Diamonds to the markets, they failed to RNS a £1.1m loan to Steelmin and they have even failed to RNS that their 22% stake company Steelmin went into Administration last February. It's totally outrageous and underhanded imo.
No-one now can have any confidence in the BOD and you have no idea whether there is a whole raft of other loans and transactions that have been made behind your back
Cash wise it was always clear to me that they are struggling imo. There are now 4 key signs:
1. The recent Annual Report stated they only had £64k cash in the bank (with £2.8m total liabilities)
2. They cashed in 1.5 million of the Jupiter shares to raise some cash
3. The £1m+ outstanding CLNs due for repayment last Dec 19th had to be rolled over for a 3rd year
4. They have just cashed in RGM shares reducing their holding from 6.50% to 3.77%
This is why there is never any shareholder value in the assets here and why the old con trick "sum of the parts" valuations by rampers are totally irrelevant. Whatever face value exists in the assets, this BOD will always take a huge proportion of it away to fund salaries and admin and other expenses. Simple as. It is and always has been for me nothing but a lifestyle venture for the personal enrichment of the BOD. Thus DYOR and do it well
Chill out 3G you should do well at Katoro. Haneti looks to be decent.
Again - NOT very helpful !
This second disposal of RGM shares in the last few days ,
Simply shows that their all out of Cash !
Proceeds of Thursdays RGM share sale would even afford Bell a new E Class merc ??
Starting to get interesting over at RGM. We have released some cash and still have the rest for trading, probably at a much higher price.
I would suggest very helpful. Regardless of what the short term effect is on the price, it is helpful that the underlying investments of POW are making progress.
POW doesn't need to fund raise for its $500k funding of KKME and Molopo Farms and Katoro looks like it is going to move right up.
I expect that POW will do something innovative on KKME that gives them a value read across now. POW did its deal with KKME when KKME was a bit stuck. These latest results have turned out much better than hoped for. I expect that KKME wants to get POW out because it can bring other partners in on better terms now.
That RRR's quoted investments are doing well means in due course it will be able to sell and release capital.
The main gigs are still Migori and Musonoi but these quoted investments matter.
DYOR
Recent Annual Report here (to June) stated:
Cash in th ebank : just £64k
Total Current Liabilities: £2.8m
Admin Expenses : £591K
Says it all really. The £1m or so outstanding Convertible Loan Notes had to be rolled over for the 3rd year running last Dec presumably because there isn't the cash to pay them off. Poster Helpful is stuck with many of those CLNs, locked in.
Same old. DYOR
Not very helpful to potential investors !!
POW shares are worth Less than a New Tesla Car !
In the 10 years ive been either invested or obsevred - The Red Rock share price has ...
Fallen for 3 or 4 years followed by a consolidation, Fallen for 3 or 4 years followed by a consolidation,
Fallen for 2 or 3 of years followed by a consolidation,
Please DYOR here !!!
More detail from TSI.
****************************/rns/announcement/0ab2710d-b60e-4da6-b20e-d071dd41158c/
https://www.lse.co.uk/rns/POW/botswana-molopo-farms-complex-progress-update-xfa99f9ycuzlbj2.html
Good news for POW and RRR
Again lol Helpful. POW shares are worth what? About a measly £75k ? Peanuts as you know.
The BOD spend approx. £600k just on Admin Expenses alone !
Keep flogging the dead horse
Progress at Katoro and a good update.
Good for POW and in turn RRR.
DYOR
lol Helpful. Keep trying old chum.
Really good news on RGM, bodes well for our RGM shares.
I understood that the issuing of a licence by the Kenyan Government required the licencee to show that it had sufficient financial resources to carry out the work. Red Rock seems to have about tuppence halfpenny.
Even if the revoked license gets reinstated nothing will change here imo. The original BOD must be removed from post for anything to change here imo otherwise the same old business model will keep perpetuating, a model that relies on constant issuing of useless confetti, diluting shareholders, destroying the SP and which only delivers value to the BOD themselves and the cronies receiving discounted shares or CLNs.
The recent Annual Report (to June) stated that :
Cash in the bank was just £64k
Total Current Liabilities were £2.8m
Salaries and Admin and other expenses accounts for a great deal of money. Admin was reported at approx. £600k
So the only question really is when is the next bunch of useless confetti going to be issued? And at what price?
Add to that the fact that this BOD failed to RNS key events and transactions leaving shareholders in the dark and the share simply becomes uninvestable imo.
Loans and transactions with Amulet Diamonds not RNS'd
Loan of £1.1m to the failing Steelmin project not RNS'd
Steelmin going into Administration Feb 2019 not RNS'd
Sale of 1.5m Jupiter shares to raise cash not specifically RNS'd.
Simply uninvestable imo
BOD in totality must be replaced. Simple as.
DYOR
Could our Kenya Gold licence be signed off soon by parliment?
Good news on Katoro.
POW owns 10,000,000 shares and 10,000,000 warrants.
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/KAT/14404620.html
Helpful - "RRR has a chunk of shares issued at 2.75p"
Which as you are well aware is only the tip of the iceberg of the enormous amounts of confetti RGM issued at that post consolidation equiv price.
Just a few weeks ago RGM had 1.5 billion shares in issue. The BOD then issued over 7 billion more at the price of 0.0275p. This flooded the existing issue such that those discounted shares then represented over 80% of the resulting issue.
The shares were then consolidated on a 1-100 basis, meaning that the equivalent share issue price was 2.75p
Note that RGM had already had a share consolidation on a 1-20 basis just 4 years earlier in 2015.
It doesn't take much common sense imo to realise that RGM shares are not worth anything over 2.75p and those that imo foolishly bought at prices of 3p and higher were just giving beneficiaries of the 2.75p shares a quick easy profit at their expense imo.
Nothing ever changes either at RRR or RGM. They are imo dilution pits that issue endless amounts of useless confetti which are dumped onto naïve and unsavvy mugpunters. Most of the cash raised goes to director salaries and admin and other expenses. They are imo sucker stocks. DYOR
How is it going with your Australian friend? Not getting any more inside information with instructions to deramp RGM? Has he kissed and made up with RGM? What happened to all your predictions that you expounded non-stop with such certainty?
1. RGM has not been diluted in the JV
2. The JV is now looking for a mutually beneficial way forward
3. They are looking to get a DSO operation going
4. RRR has a chunk of shares issued at 2.75p
5. Learn to read.
You have shown that you are not an honest poster and just interested in trying to manipulate people. I saw your post stating that you weren't interested in RGM any more now that Andrew Bell was out. So all that puffed certainty was all about personal enmity to AB? Same here I should say.
DYOR