Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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http://kenyalaw.org/lex/actview.xql?actid=No.%2012%20of%202016
The problem with the RNS seems to be that someone very familiar with matters assumes that what they are saying is obvious to others.
It seems that we do not have the licences back at Migori. However, we can reapply on a "priority basis". This refers to section 56 of the Mining Act 2016. All existing licenses had to reapply under the Act to ensure that they operated under new health and safety and environmental standards.
So what this seems to mean is that RRR has to reapply under the same process as the other license holders post the Mining Act 2016 ie., it is being treated as though it were an existing license holder.
What does priority mean? It means that RRR's application gets considered before anyone else's: see section 56.
So RRR now has to go to the cost of submitting the new application and it must abide by the Mining Act 2016. No idea as to timing, cost or process but it seems RRR will have to submit a new business plan. Maybe AB will enlighten us in due course.
DYOR
We've got it back, it's worth multiples of our so currently. A lot of parties banging on our doors to farm into it.
Rrr ridiculously undervalued...
To be fair, I don't think today's announcement would have had much if any positive effect on the sp whether this was AB+RRR or not. It's a positive development, but far more meat on the bone needed before the market is likely to ascribe any value to it IMO.
Damp.
Same old. Bell manoeuvre to continue at the trough.
No one believes it any more.
very little interest today.
Andrew Bell's been here around 13 years and I suspect many many thousands have lost huge in his companies. So very few will invest in his companies these days.
Shareholders sticking with such an unpopular chairman is bonkers. He needs to go!
Migori worth multiples of current mkt cap. Has jorc resource of 1.2Moz with potential to at least double.
Good news today. Hopefully the market will see it the same way
They are really close with migori.
What progress is that maestro? There has been legal action going on for years and the lawyers will make sure it will drag on for some time to come imho.
Shoat Creek, the investment was very little, you should be lookimg at assets like migori where we pumped 10m in. Migori is worth multiples of our current sp. Progress being made which i like.
The 2016 comments by AB concerning Shoat's Creek were interesting.
just checked in after a few yrs absence
only to congratulate myself on not
supporting a directors annual salary company anymore
and that is what this is
and always was
new deals all the time ,market doesn,t know how to catagorize the company
and it never will
well done mr bell for fooling the people into thinking something will
come out of it
well he is right in one sense,money from your pocket will come out into his
anyone ever registered a profit here
You missed the word "shareholders'" from your last sentence, Zu.
Bell said:
"With gas prices beginning to reflect the recovery in the oil price and trading at over $3 per Mcf, we look forward to strengthening revenues from LM20 and a rapid progression of the other wells in the field, including LM21 for which we have pre-paid $148,250 as our share of funding."
..........
Most of the shoats creeks debacle has erased from my memory but I do remember Bell foolishly prepaid $148,250 for the LM21 well.
I think LM21 never happened. Did RRR ever get that massive prepayment back? I'm guessing not. Bell is so wasteful with money.
i think you are way off the mark when you try to blame MrMagic for this share price. So i think you should apologise to him.
I'm not wishing bad arthritis on MrM; because let's suppose all his typewriting eventually catches up with him and he starts to get bad arthritis in his typing fingers; then eventually he switches to typing with his nose; then after a couple of more years he gets sick of nose typing and he gives up the forums. Now if that happened do you seriously believe this RRR share price would suddenly start rising? Of course it wouldn't!
So that's why you should make him a sincere heartfelt apology.
"You just negative because you lost your money 6 years ago in rrr"
.......................
To be honest with you Maestro i think that is one of the main reasons for this share price. I mean AB has been at the RRR helm for 13/14 years and in that time i'm sure thousands upon thousands of PIs have had their investments decimated because they foolishly invested in RRR.
Let's rewind back, a 25-1 share consolidation happened at RRR a few years ago, so if we reverse that 25-1 consolidation, the share price today would be a miserable 0.024p. I think my first RRR investment was at least 50 times bigger than todays lousy price; i guess thousands upon thousands of other PIs bought in way higher than me. So now we can understand why thousands upon thousands do not rate Andrew Bell and are not impressed by today rubbish RRR share price.
Now present RRR shareholders and Andrew Bell have got to hope that there is a huge numbers of new AIM PIs out there; if there isn't then unfortunately you are left with all the bittergirl and bitterboy former RRR holders who would NOT touch an Andrew Bell company for sh**
My personal belief is that many thousands of those former RRR investors do still invest on AIM; i also believe because AIM is a pretty grubby place then there isn't really an huge number of new blood who invest on AIM.
So to me that is my explanation why this share price will never dramatically rise; because thousands upon thousands of those RRR ex holders i believe still invest on AIM; and you need those huge number of bitterboy & bittergirls to invest in RRR for this share price to dramatically rise: but they are never returning to RRR while the incompetent one still in charge.
Of course that sucks for brand new RRR holders because they see no share price reaction to what they deem positive RNSes.
I understand that certain remedial works have to be carried out at the site. Have we been left "holding the baby?"
After years of failed exploits, SC and EO being just two of the more recent, the collective market appears distinctly uninterested in anything happening here.
Shoats Creek is dead we are not interested.
Ah but there is an update in a roundabout kind of a way. In the last RNS, Red Rock described itself as "the natural resource development company with interests in gold and steel feed materials". Which says everything that needs to be said about the success and future viability of its two failed oil exploits.
He sold his shares back in Aug and moved on, unlike Magic/Torp who still bitter after 6 years.
your still here?
MrMagic
yes we took out a CLN, this will get converted in dec, it may be extended, part converted or paid back, the company hasnt decided.
At least you dont go on about the warrants, the ones in summer expired and the nov one will likely also. That was your theme, rofl.