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the last update was Friday Aug 5th almost 2 months ago
"The arbitral award, when and if made, and we hope it may be soon, will not now reflect a consensus arising from the negotiation of the parties, but the decision of the arbitrators. As we await it, we must consider a range of possible outcomes, and uncertainties of timing, but continue to press for a just solution which includes a resolution of the earlier court proceedings."
Specinvestor what do you think of what Bell said when he was interviewed in the 23 August Stockbox interview?
"The arbitration hearings have been completed. We have indicated to us what the decision is...we have not seen it in writing; and of course those that lost ..have been busy trying to offer inducements to change things..but i don't think that is going to work. I think we'll be able to say things quite shortly"
....
On reflection i don't think he should have said the above because Arbitration, Gecamines and VUP could all take a dim view on what Bell said. I think most people would think Bell is suggesting attempts of bribery are taking place. If VUPs legal team had seen what Bell said i'm sure they could use it against Red Rock.
Zumore I think VUP must have no credibility with any right thinking person as we have proved we owned 51%. However AB is so stupid as we know. Where is the money Bell we want to know and do not say stuck in a Cypriot bank or similar.
my opinions on Congo and AB
1-AB in his interviews is far more positive than the RNS. In hindsight more weight should be given to the RNS than any posts or interviews. Hype or lie hindsight says it was misleading.
2)AB/RRR have not explained the arbitration process- is this because they dont know or for some other reason?
3) VUP using AB/RRR comments regarding possible improper actions. RRR actions against Gecamines is exactly that-improper sale Keep in mind that at face value VUP was also damaged by the eventual sale to Gecamines VUP at most was looking to keep $20 million but VUP would have % of $420 million which would have been much greater
3) Congo/improper actions. I am not going to say bribery because AB is vague-inducements can mean many things both legal and illegal at most any comments to that effect would mirror statements made in legal proceeding. In any event I think it be hard for any opposing party against RRR to be able to prove the actions in Congo depriving RRR of property rights were proper as evidenced by the court awarding RRR judgement on the first $5 million paid
Current status- $15 million is held by 3rd party who wants to receive directions on how to pay those funds out.
We dont know what type of directions will be sufficient. What authority does the arbiter actually have? does VUP have any legal recourse if they disagree with the decision?
Bell glosses over these issues either because he thinks they are not relevant or meaningful or as some here have posted he is just a shameless promoter.
Mr Bell needs to get back on a plane to the DRC and be handed the written document and announce in an RNS...
"The arbitration hearings have been completed. We have indicated to us what the decision is...we have not seen it in writing; and of course, those that lost .."
In other words, RRR have won the case!
Strong Buy under 0.4 imo....
It's all a con. 2 months being imminent.
'Bell end' is the Bernie Madoff if AIM
Next news will be suspension following financial investigation by FCA
Really? an investigation triggers a suspension In Canada or the US at best it would disclosed but any punishment would be AFTER a trial or at least a hearing
I think when Bell's 80 (he's 67) he'll still be achieving nothing at Red Rock and still be running Red Rock.
These past few years Bell has struck lucky with Stephen Lundy (or Helpful) and his wealthy clients. Afterall they lend Red Rock money. The added bonus for AB is they are gullible, weak and subservient because they deal with AB's many failures not by getting rid of him but by lending him more money.
Helpful and his clients are already 50% down from the last lending.
No more Muppets like Helpful left to bail out AB. It's game over
Still waiting for that translation from French re the legal docs from Congo. Any update helpful?
Be waiting a good bit longer no doubt, quelle suprise.
I think it’s fair to warn anyone tempted to buy this dog that Bell has never got a deal across the line so don’t expect any of the “completion imminent” nonsense to come to anything, helpful has been Bell’s fluffer on this board for some years now, and guess what? Zip.
Another dilution in the next 5 weeks, expenditures (on Bell’s wages) will be required.
Helpful won't be on until late. His in the food bank queue
https://twitter.com/susie_dent/status/1577695424361660416?s=20&t=9tXFKXnOdaaMeQCqnQ-lSQ
How is it possible to be 50% down on a CLN? If we do nothing then RRR repays us with interest at maturity.
DYOR
Helpful does this mean you are taking advantage of RRR situation?
If you don't understand basics, you shouldn't be investing. Look up what a convertible loan note is.
Where's Rodney gone?
Rodney will be back 'soon'