The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Helpful,
Thank you so very much. I tend not to infer from earlier interview/s. So, insightful. THE GREATEST CRITIC which Zumore once quoted is today [post all the questions from shareholders etc on Twitter under Bell's thread], oh, surprisingly, NOT ONE BAD WORD TO SAY from the "Bear" and in fact good wishes. Well, wonders will never cease. Checked the blog as well: NOTHING ON RRR -critique etc [British under-statement.] Wishing you , Helpful and shareholders a Blessed Fri and Mon , 29 & 1 Apr 2024.
News, the advice from the UK Counsel was as to, did we have a claim for tortious interference and, if so, in which jurisdiction?
Hence, Article 4 Treaty of Rome in either Switzerland or London.
I expect we will be on with it in pretty short order.
DYOR
Sorry , pressed post by mistake:
"out 50.1% JV assets in the DRC were SIGNED AWAY behind our backs for $20m to an initial buyer =======AND THEN IMMEDIATELY S O L D ON =======FOR SEVERAL H U N D R E D M I L L I O N S to a further party, altho these transactions were carefully hidden from us at the time. "
".....WE F I R S T TOOK ADVICE FROM UK COUNSEL ---as to COURSE OF ACTION...litigated for $20m. We obtained a final & executory judgment..." [1st para under the header: DRC LEGAL ACTION, RRR RNS , 28.3.24 , 1/2 yr report].
"GIVEN WE HAVE ESTABLISHED OUR RIGHTS OF 50.1% of the JV PROPERTY ==UNDER CONGOLESE L A W , we ====ARE==TURNING OUR ATTENTION to those REMEDIES available to us in OTHER JURISDICTIONS ===OR FROM O T H E R PARTIES,**********AND IN CONNECTION WITH THIS , ====WILL==BE SEEKING FURTHER A D V I C E FROM COUNSEL." [[LAST PARA OF DRC LEGAL ACTION].
Comment: So, 1st bit of advice from UK counsel was good as judgment obtained in DRC. Last para, ONE AWAITS FURTHER RNS AS TO WHAT COUNSEL HAS STATED UPON CONSULTATION. NOTE: Imperative word: "FURTHER" advice.
DYOR. NIA. Wed, 28.3.24.
RRR 1/2 yr report RNS, 28.3.24 [Thur]:
"Chairman's Statement: The co has CONTINUED to await POSITIVE developments in the DRC" [Opening 1st para inc Elephant Oil IPO.]
"To repeat what we wrote last year, in Dec 2019 our 50.1%
The RRR RNS, 1/2 yr report of today, Thur, 28.3.24 was VERY WELL WRITTEN legally. I dont want to put any interpretation on the word: "---------------IN THE C O U R S E --OF THE ARBITRATION P R O C E S S , our expectation..." Imperative word: "In the c o u r s e of the arbitration process, playing on 2 words, "course" and "process."?
I am posting post the above RNS released this morning at 7am relating to DRC Litigation. I am pleased that my SUGGESTION has been taken into account in this said RRR RNS [ON FROM OTHER PARTIES] on DRC Litigation ie "...REMEDIES available to us---in OUTSIDE JURISDICTIONS --**************O R FROM O T H E R PARTIES.********"
Comment: "Outside jurisdictions?" = OUTSIDE CONGO/DRC. "OR FROM OTHER PARTIES=the buyer/s in my view.
MY OWN POSITION: FOR THE AVOIDANCE OF DOUBT: For as long as RRR is able to remain listed on AIM or a private co, MY RIGHTS WILL STILL REMAIN if I hold shares in RRR for the DRC LITIGATION, OUTSIDE or from other parties as above. So, as I said, it could be now seen as O P T I O N MONEY and of which since I am only modestly invested, impairment is the worst case scenario but I remain positive, that the LARGEST 3 HOLDERS OF RRR may also agree with my view, in that they want to see value etc. Mr Bell was a director of CHURCHILL MINING who's only operation was litigation at INTERNATIONAL ARBITRATION ie outside the country of jurisdiction. So, he is cognisant of this aspect ie co can concentrate on international arbitration but as I said, other parties could be a legal consideration for shareholders. I GIVE NO WARRANTIES to anyone as everything is in the public domain and via RRR RNS esp today. DYOR. NIA. Thur, 28.3.24.
"DRC Litigation:
Given we have ESTABLISHED our RIGHTS as 50.1% owners of the property under CONGOLESE LAW, we ---ARE--TURNING-OUR -ATTENTION- to those ==REMEDIES== available to us ===IN O T H E R JURISDICTIONS====O R FROM ==O T H E R PARTIES, and in connection with this ----W I L L B E ---SEEKING further A D V I C E from COUNSEL."
As a result of the undertakings GIVEN by the BUYER, a PARA STATE co, =======IN THE COURSE OF THE ARBITRATION PROCESS, our e x p e c ta t i o n is that PAYMENTS will be MADE PROMPTLY." Verbatim.