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dont forget by 31st jan we are also due decision on cobalt deal "Further to the announcements of 26(th) September 2017 and 3 November 2017, the due diligence period on four or five copper/cobalt tailings near Kolwezi in the Democratic Republic of Congo has been further extended until 31 January 2018."
"dont forget by 31st jan we are also due decision on cobalt deal" Why would any sane shareholder want this project to go ahead when it would bring dilution? "�490,000 payable in RRR shares at 0.65 pence a share, with attached 5 for 3 three year warrants" I make that about 75m shares that would be issued at that discount price of 0.65p. What would that do to the SP here?? Not forgetting that RRR would also need to make a cash payment of $700,000 to boot (�494k) !!
You just don't get it do you? So thick and bitter it is laughable. Up the meds my friend. RRR is going to have it's time in the sun and I hope you stay around to witness it.....
Magic. Do agree that Bell only seems to have had a yes button for deals in the past I don't like the drc deal and hope he shuts his case and walks away.... or at least renegotiate under threat of walking away....
Do you realise the size of that cobalt deposit? DYOR and look at similar cobalt projects and the mcaps the companies behind such hold....
Yup it might be great... drc is changing what it wants from outsiders..it's good for cobalt and copper... massive country ...as I said Jupiter and steelmin would be enough for me....
Don't need to. Just need to ask, where would RRR get the money from for such a venture? $700,000 in cash needed, then $1.2m commitment of exploration expenditure over 18 mths plus of course that dilution, lots of shares at 0.65p. RRR owes $2.8m on the YA loan and needs �686k each year just for Admin and Exploration expenses. Where's all this money going to materialise from? LTHs know all too well imo. Prob best for you to quit trying to convince people here. The more you post the more desperate you come across. You're clearly not in the least bit confident if you're having to man the boards 24x7. Same with all the rampsters. If they truly believed they would sit back and wait for the good times to roll. Funny how they never do sit back. lol
Magic ... if the loan is repaid on Wednesday then the sp should increase and the drc deal is not such a risk ... small steps ... let's get to Wednesday .... if they extend their loan to y.e then for me that's a no to the drc deal as over gearing and confetti. Bell might get lucky ... it would be about time....
The more I post the more desperate I come across? Dear me. That's from someone who sold at a massive loss last year. I have a financial interest here you do not. I can see this being 4-6p in h1 this year. What's your reason for posting? All you are trying to do is to justify your loss that you still grieve. Its gone magic, long gone, you ****ed it all away trading this at the wrong point. Such a shame.....
The more I post the more desperate I come across? Dear me. That's from someone who sold at a massive loss last year. I have a financial interest here you do not. I can see this being 4-6p in h1 this year. What's your reason for posting? All you are trying to do is to justify your loss that you still grieve. Its gone magic, long gone, you ****ed it all away trading this at the wrong point. Such a shame.....
" if the loan is repaid on Wednesday then the sp should increase" Not convinced of that TBH. It would be nice for sure to have the loans balance out but it would leave RRR with a % of Steelmin who, as yet, are not producing. The key to this entire thing is what level of production they achieve. LTHs will be all too mindful of the shameless ramping that went on with the Shoats Creek saga. Lots of tasty sound bites and rampy test figures but the reality was pretty awful. We will now have to wait until March to find out if Steelmin do get to production, and even then I predict it will be months later before we get any concrete production figures. Rampsters will play on speculation as they always do. Savvy PIs know to wait for the actuals imo.
Magic. . As I said I'm newly acquainted to rrr I've been in stocks where ive been underwater so not aligned to the sentiment shown by graphic. Hope this is a recovery play for us all.
I've recently caught onto this stock, on paper it looks undervalued, Magic has ulterior motive as he has lost money when this was 10p+, now it's slightly less than 1p and there is value here.. IMHO.
Coffee, magic doesn't hold shares in this stock he is being bitter...
Hi maestro1 I hope you're not basing your investment strategy on: "this was 10p+, now it's slightly less than 1p and there is value here.." You've overlooked a 25:1 consolidation and it was up in the 15-20p range for a period 375p+ to now slightly less than 1p - paints a very different story perhaps there is value in the companies assets but you've got to wondering if the management than oversaw 375p-1p are the right management to realise this value
RRR can probably do DRC without the Steelmin loan being repaid but would need to bring in a farm in partner. Secondly, deals can be renegotiated. Ideally, the Steelmin deal gets repaid. RRR has a charge over the assets of Steelmin: so RRR and RRR's solicitors will be involved in the Steelmin paperwork re the refinancing. RRR will have also seen the offer terms for the refinance. AB will have a pretty good idea whether it is going to happen or not. Fingers crossed, it happened on Friday and we get to know Monday/Tuesday: solicitors like Fridays for completing these types of deals DYOR
It seems i've wrongly been reading the 26th September DRC RNS because i had always thought the $700,000 cash payment and the �490,000 placing at 0.65p a share were the same payment because $700,000 converts into around �490,000. Looking back at this thread it seems many think that RRR would initially have to pay the DRC seller �490,000 (in 0.65p placing shares) and also another $700,000 in cash.
Could one of the newbies or dyed in the wool rampers answwr what dividends the Co has paid to shareholders please over the last 10 years.? Having raised about �18m over the years through placings then i wonder where all the money has gone to and with the same man in charge? Looking forward one day to Tom Winnifriths memoirs being published and that may imho explain the 'love in' between him and AB. Seems a strange friendship and never a bad article published about RRR investments.
Did you buy this share for dividends you thick chump? You never know you may get some this year, I would prefer a share back with excess cash though.
zumore - " seems i've wrongly been reading the 26th September DRC RNS" The RNS couldn't be clearer zumore. There are 3 clearly separate bullet points highlighting the cost of the deal: o Cash payment of $700,000 o �490,000 payable in RRR shares ("Shares") at 0.65 pence a share, with attached 5 for 3 three year warrants to subscribe for new Shares at 1p ("Warrants") o Commitment by RRR to fund $1.2m of exploration expenditure over 18 months to produce a bankable feasibility study ("BFS") on Kamirombe, and thereafter pro rata. So, tons of cash needed to be stumped up by RRR and a shed load of dilution shares to be issued at 0.65p, a nice kick in the teeth for existing holders imo. Where would RRR get the cash for this deal?
Irick4g No I am basing the current assets certainly have value over £4.67m. Our shares in Australian company are worth more than that...
Comical reading posts saying 50 percent of people bought at 10 p are bitter,lol even people who bought at 1 p are holding shares worth 1 /25 th of a penny.mustnt forget the consolidation guys.there is some outrageous ramping going on at present.trying to completely airbrush a farcical 6 years of mis management.anyone trying to list el limon as anything other than a complete shambles cannot be trusted.BEWAre.rrr woes have only been partly due to the economic climate.after all limon managed to lose money at the height of the gold price.circa $1800 and costs of circa $2200.of course in true Bell fashion it took many many months to discover the true situation.and now we have steelmin.maybe spots have been lost.rgm still waiting for their lauded coal riches.I believe there may be some value here but blind faith has mostly been very costly.good luck to genuine punters.