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I hope it comes good for you Spec you are one of the good ones.
You know my problem is with Helpful not investors. But yes agree the raising of the tax loss advantage is the most bizarre posting of all.
The RRR loss has grown from zilch to £22m over 20 years plus and its never ever been raised before. A seriously strange thread.
Banbury I wonder if success in DRC will be redefined as creating and maintaining another tax loss
just kidding obviously before the 'happy' RRR shareholders jump on me for this post
I do hope that AB can finally get a signed arbitration award and unlock the DRC cash
On 14 Mar 2024, MOPANE 2X: "PEL 83 Exploration Campaign Update 4: NEW SIGNIFICANT LIGHT OIL DISCOVERY & SUCCESSFUL APPRAISAL AT MOPANE 2X."-Business Insider, 14.3.24 [PR or RNS it is called in the UK.]
To the left of Mopane 1X & 2X is licence ---PEL 90---EXXON WILL DRILL IN 2025. Lots of discoveries INCLUDING SHELL.
Helpful, could you point me to which SEC ELEPHANT OIL CORP FILING TO LOOK AT THE MAP given Elephant Oil 's website is awaiting updating once it is filed. Thank you. I need to know the LOCATION.
Agreed Spec
With £22m of tax losses and a world class portfolio of spinning plates (sorry assets) estimated to be worth FASO £100m ALR lots Kenya £40m DRC big and little claims $400m.
I'm amazed with a current capitalisation of just £2.7m no one has snapped us up for 0.3 or 0.4p ?
Clearly we are under the radar and the market will see sense soon ?
I find it interesting that several posters go on and on about how great RRR has creating and saving tax losses.
Those tax losses only have value if Australian income can be generated. What is that time frame and what will it cost?
Personally I would rather have RRR generate profits.
PDC the full settlement is about twice the market cap and its a very big "if " we get the full settlement or that its not partly priced in.
That translated to a best case scenario of just over 0.2p not well over. With 213m warrants kicking in at 0.1125p. I think you are a tad optimistic.
I just saw a side post [on left] of every forum page. I went to POW and my word, they pressured to sell to RRR the Australian JV!!! Or , so they say. IF, indeed true, then my word. I am sure folks will have heard of HAVIERON , Paterson that took GGP from out of no where to a £1bn mkt cap just for 30% of Havieron. Newcrest JV'ed into Havieron and even Wyloo. HAVIERON IS NOW LEGENDARY --The Australian, AFR etc all wrote about Havieron and the stuff of legends given this is a big discovery after Telfer.
KILMORE-RRR AUSTRALIA 100% OWNED: Folks , even in the UK ie CEO of ECR is today [interview] talking about SUNDAY CREEK of Southern Cross Gold [ASX, A$175m mkt cap that did not IPO that long ago, just for this licence alone in Victoria]. ONE CAN DREAM OR HOPE OR KNOW [ I am not privy to what further work Paul did on Kilmore etc] that KILMORE COULD BE AS GOOD AS SUNDAY CREEK. It is NOT just nearology, ie less than 5km to Sunday Creek but rather PAUL WANTED TO SEE IF SUNDAY CREEK ------------EXTENDED INTO KILMORE-------------. See, private investors NEVER do any research but pressure to sell, not knowing what they are selling!!!??
SAME GOES FOR MT IDA.---------My word, GINA RINEHART wants to buy stock and folks wont sell her!!! [allocation]. Just her name on the share register will send it into orbit as norm in Oz. See, folks grumble but NEVER RESEARCH. Not editing as I have something to do.
Yes, Helpful, thanks. I am keeping an eye on the co's you mentioned ie read the latest. I know about RECON as I bought into it some time ago but did not catch the lowest price at its inception. It is harder to catch American stocks at inception. But on AIM, it is easy as I read into many co's, sectors etc. Re: Elephant Oil - DR STALEY is the name that will be OF INTEREST. Hence, no wonder the original 63 names are not ordinary pi's. Pleased you know more but that is something which will prove going forward . I AM ONLY INTERESTED IN RED ROCK AUSTRALIA AT THIS TIME as it could be a COMPANY MAKER as nor, IF Paul did more work on KILMORE further to his presentation of Mar 2023. Other than that, DRC could be also useful to the RRR treasury . Thank you.
Expect to see an announcement by Weds and shares should trade well north of 0.2p once announced
News, there are some things happening on EOC that are very interesting but not yet ready to be put in the public domain. Maybe back end of next week for some and maybe a couple of weeks after for some more. And no Trolls it is not inside information because RRR doesn't know; AB gets his info from me.
In the meantime, investors should familiarise themselves with the information in the public domain from Recon Africa as it pertains to the Damara Fold Belt. They might also want to look at the Sintana update relating to offshore Namibia published earlier today.
Because I know nearly everyone on here is lazy as.... https://www.proactiveinvestors.com/companies/news/1043215/sintana-energy-unveils-light-oil-discoveries-in-namibia-s-orange-basin-1043215.html
It is also worth keeping an eye on what Monitor and 88 Energy are up to in Namibia on the Damara Fold Belt.
IMHO I can see EOC being worth serious numbers later in the year. But always, many a slip twixt cup and lip. Recon are looking to do a JV asap and drill two wells in the Damara Fold Belt: if they hit, that is highly material to EOC and in turn RRR.
DYOR
What you can say about Elephant is that it is operating in a jurisdiction with massive discoveries. Look up Whaleback Anticlines.
On the RRAL tax losses, of course, that is the 50.1% attributable to RRR; it needs to be grossed up.
Please catch up, Mr Resident. Red Rock Resources UK listed on UK AIM -------------DID NOT---------ACQUIRE $470,000 TAX LOSSES of the AUSTRALIA GOLD LICENCES listed in a private Australian JV co [POW/RRAL]. Why? RRR OWNED 51%region OF THE AUSTRALIAN JV CO. It did ---------NOT------acquire the Australian licences etc from POW for------TAX LOSSES.!!! That is FACT. RRR acquired 49% region so that IT CAN SELL TO A TRADE BUYER, OR IPO ETC. Ref: Bell interview from Kenya @Stockbox.
RRR tax losses of £22m is also needed ie info. If ANY OF THE ASSETS ARE SOLD, tax losses are HELPFUL since it would appear they have been carried forward. Simple, isnt it CGT in the UK? If one has LARGE GAINS, does not not OFFSET IT AGAINST CARRIED LOSSES.
TAXATION MUST BE LOOKED AT BE IT IPO, TRADE SALE. Sometimes, the trade buyer wants to BUY only the LICENCE. So, the tax loss is therefore also useful. IT IS ALL 101, FIRST BASE INFO ONE MUST KNOW BEFORE DISPOSING ASSETS OR IPO, TRADE SALE ETC.
Helpful:
Excellent. I did not want to trawl through the accounts so I wanted to save time. I dont know about the inter co loan RRAL owes RRR. By the way, folks on this forum and other RRR forum do NOT KNOW what RRR is ie Red Rock Resources Plc, UK vs Red Rock Resources Australia . But the incorporation may be called Ballarat something during the period of the JV. LoL----I did NOT think you were NOT ACADEMIC BASED if you are a professional in real life in this field ie FINANCE & ACCOUNTING. Finance is Business Finance and these days, 4th year in Canada Finance must specialise in VALUATION. Accounting must also touch on TAXATION. Hence, why I sensed you might know it the top of your head to save me time. Going on SEC filing of Elephant Oil, I did guess that was the next port of call. Even at Elephant Oil Ltd, Companies House, out of the 63 original investors, Lundy was not named [maybe under an entity]. I SAW DR STALEY'S NAME UNDER COVE ENERGY AND THAT IS A WOW GIVEN STALEY SOLD A UK LISTED CO FOR MEGA MONEY TO THE THAI STATE OIL CO AFTER SHELL LOST OUT IN THE 1ST ROUND OF BIDDING. I did not know what to make of Banburyboy saying you were a 5% holder of Elephant Oil Corp. That is a HUGE % to hold IF it is correct. Why? 5% in an oily will mean a % loss or exceeding rich. That is what happened to GGP -Sunday Times Rich List name and M/c & London tower has his name on it. He sold his 6% of GGP but the market could absorb it. Thank you. Best news for me re: RRR & RRR Australia tax losses.
News as I said RRR has plenty of tax losses so why aquire anymore with the new aquisition ?. Helpful has confirmed what I said he was peddling just a little too hard on the new subsidiary. When you allready have £22m of losses what the relevance of 470k more!!! It really is a nonsense advantage on aquistion he's confirmed my point.
Just reflect on £22m of losses and what does it tell you?
Not even the comfort of a viable balance sheet most of the assets have been for sale for a while with no takers. Not a pretty position.
News, it is not difficult. The information that our esteemed colleague, accountant and NED needs is in the accounts:
"The Red Rock audited accounts to 30 June 2023 ("Accounts"), as shown in Note 2. Segmental Analysis in relation to "Gold Exploration Australia", the net loss before tax from continuing operations of the Australian Subsidiaries was £(470,000)."
In additions, I understand RRAL owes RRR a small amount. This is an inter company loan and likely recoverable at IPO.
Separately, RRR has carried forward losses at the PLC level of £22.4mil so call it £22mil net of the loss in RRAL.
NB I did finance and accounting as part of my degree, it is not rocket science regardless of what Boring Boy says.
DYOR
News is about ASSET & asset valuations -Stockmarket 101 [that is how the stock market works vs Banburuboy et al.
Fine by me- I go with the Stock market game rules as it is set by the market. Yes, No?
Yes Flight man!! I love the green when News pops in who knows zilch.
News -Flightman, dariontaylor, blueboy1975, , amidan,cgull, zumore, talkininto, captain Kurt, bratt90, steeltitan, three Duke, pumpky, rich rich 1, aimdogs. Jfk8 and Banbury boy.
Between us centuries of RRR watching and experience. But you know more ?
What about TWO 50m buys before the RRAL [Australia]? Holders here are waiting for development. IF, the assets are restructured, then the market will follow.
No insiders buying,and a 20M sell yesterday,doesn't bode well here.
Looks like a wasted airfare and expenses
What are you on about? |IF , RED ROCK RESOURCES AUSTRALISIA IS SOLD to a TRADER BUYER /s, then the deal must take in TAX law as these are AUSTRALIAN LICENCES and it is NOT RRR, but RED ROCK AUSTRALISIA [not sure what is the name of the registered co in Australia]. It is subjected to tax law and RRR must consult , be it IPO or TRADE SALE. No good selling or IPO without clearing the TAX POSITION. In an IPO, every aspect has to be stated. Just like in the UK, UTILISING TAX LOSSES if one has made losses against gains, is of help as norm.
As for DRC, what is a "PRINCIPAL"|? Say, one inherits a house from one's parent and only 2 parties are NAMED in the Will /Probate. Suddenly, the lawyer doing the probate tries to STOP all legal paperwork etc . WELL, THE LAWYER/COUNSEL cant because he is "NOT A LEGAL PARTY." Same here for RRR DRC ----BELL STATED :"FAILED" re: JV partner's counsel. Why? I think Bell mentioned arbitration but no details given, suffice the MINSTER IS LEAVING.
Lol Had to laugh at this reasoning. similar to AB has to keep working at RRR to protect the tax losses.
Personally I would make a profit and then use up the tax losses but I recognize that others have a different approach
I have just been to CAP.X given I saw on Twitter they also have a LITIGATION matter. So, I came to the LSE to look at the 14.3.24 RNS and it is entitled: "UPDATE ON LITIGATION". It is only a very short 2 para kind of update and that it is continue via procedural. However, currently, a post below does not appear to understand LEGAL PROCEDURAL which I have already explained before. Also, what Bell, Chairman of RRR that the JV partner's counsel is "NOT A PRINCIPAL" to the agreement has not been understood what this means ie he is not in a legal position as the party to the agreement of the DRC award , NOW "AGREED" by both RRR & VUP.
Relating to Australia, the Resident doesnt think it is a good thing kinda thing? WHY NOT? RRR NOW OWNS 100% and it is in fact free , in a sense, because POW gave RRR a 100% PREMIUM share price [no doubt via an investment bank valuation report which is needed in deal making]. In Victoria, THE OZ GOV PUT TO AUCTION THE LICENCE ----NEXT TO FOSTERVILLE MINE--------60 co's bid for it including MAJORS [big majors eg NEM etc]. Majors did NOT win the bidding. Now, ECR CEO today, in an interview talked of VICTORIA gold exploration is heating up DUE TO =====SUNDAY CREEK===NEXT DOOR TO RRR'S 100% KILMORE. Just next door is not necessarily enough but PAUL JOHNSON DID HISTORICAL WORK ON KILMORE and AT DONNYBROOK , THEY RECORDED 200 G/T GOLD VS SUNDAY CREEK 199 G/T GOLD. Kilmore, now 100% RRR was a mining town and when the gold ran out, they went to Sunday Creek. At Donnybrook, the old timer Victorians dug only to 2m which they could reach. SXG of Sunday Creek are DRILLING TO 1,000m. SO, NO ONE CAN DENY KILMORE WHICH -------NOW IS ALL RRR'S ---------IS AN ASSET TO...FOR AND PER BELL, IT CAN GO FOR IPO IN OZ OR A TRADE BUYER/S HAVE ALREADY APPROACHED THEM.
I anticipate and HOPE for AFTER HRS news from Bell. It is not wise to release any news during trading hours and this is norm. Then, when there is legal clarity, it will be via RNS, also norm. DYOR. NIA.
Good luck with it Robins.
To be fair the POW deal was out of the blue with no warning so perhaps this time he will get the DRC proceeds with no leaks or rumours pushing the SP.
I would love to be proved wrong on DRC and then the mercurial 200 tonnes and then the securitised loan. It would be a hat trick for the beleivers good people like you would gain and I would be sent packing tail between my legs. What's not to like ?
Banburyboy I am being positive today and thinking AB would not go to the Congo this time if he had not had certain reassurances from both sides. But the POW deal sort of goes against that. In his stockbox interview I think he said he was very very well. I would have hoped to hear some Kenya news by now too. Helpful said these people in Congo are wriggly people but so is AB. Fingers crossed.
Talkin - I have more anecdotal and evidential knowledge than most on this share.
This is a leaky ship allways has been and the big PIs IMO would be buying low to sell high if DRC was imminent.
Also why the POW deal it makes no sense.
I'm afraid it all leads me to think another false dawn unfortunately for holders. But I could be wrong.
Because of the NT in place, IMO, but as far as i can see buys far outweigh sells, and has been like that since open, but as always it's out of our control..
the first sign of blue will tell us that they have finally open the flood gate to buyers i suppose...
BIG Shout out'' going out to AB, who should be rested by now after a long trip and could well be putting the final touches to this highly anticipated DRC update