London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I have previously posted on why I invested in RRR as well as the reasons in no particular order
1-future IPO on Elephant
2-future IPO on Australian assets
3- future deal on Kenyan assets
4-Congo debt resolution
IMO those events can dramatically increase RRR share prince
I understand that prior purchasers who still hold RRR bought at significantly higher prices and are disappointed with share price and it very well may be that I too may be disappointed in the future but for now there are multiple reasons to be optimistic
specinvestor99
There has always been seemingly multiple reasons for investing in Red Rock and previously Regency Mine too. In fact multiple reasons and multiple projects over multiple years. Do you see a pattern forming here? When Bell is involved its same old same old.
If you have the time dig back into Red Rock's and Regency Mines past. There's been countless investors like you in the past highlighting a string of project set to make them money and its all ended the same way. Groundhog Day would be a more apt title for this share.
TDT
So, am I , a RRR shareholder.
My opening primer will be:
[1] Red Rock Resources share price 0.35p /0.4p, Mon 23 May 2022.
[2] Mkt Cap : £4.42 Million.
[3] 52 wk high and low : 1p and 0.3588p.
[4] LATEST INTERIM RESULTS STATEMENT OF 29 APR 2022:
"Exploration ASSETS: £13.653 Million/ £17.624 Million.
Total Equity & Liabilities: £18.314 Million."
-----So, RRR MKT CAP £4.2M VS £13.653 MILLION EXPLORATION ASSETS."---
Interim Statement mentions: CONGO in the statement relating to $20m due to RRR [para phrased].
RED ROCK RESOURCES CHAIRMAN, ANDREW BELL INTERVIEWS:
[1] Proactive Investors, 29.4.22
[2] Stockbox Media Interview, also recently, after RRR interim statement of 29.4.22.
FAO:
FCA
Not difficult to see the dichotomy between mkt cap £4.2m vs £13.653 Million assets
+ 52 week low.
Risk as norm for all exploration stocks.
= Risk vs Reward.
[For darientaylor, Ref: 16:11, Mon 23may 2022 with answer]
I will repeat a portion of my prior post which relates to your issue:
I understand that prior purchasers who still hold RRR bought at significantly higher prices and are disappointed with share price and it very well may be that I too may be disappointed in the future but for now there are multiple reasons to be optimistic
I invest looking towards the future
What a hoo haa given today's TOTAL TRADES N U M B E R ONLY 6,
with a total sum of £ 2,675 showing on the page above [London South East RRR].
This is to support my earlier post today under this thread.
---Very people interested so its us the few of us discussing the co's projects etc
as norm. MOST FORUMS HAVE ------------FAR MORE THAN 6 TRADES AND MORE PEOPLE DISCUSSING THE STOCK.---
Therefore, the thesis of ....roompers appears NOT supported by the trades of only 6 for the day.
Mon, 23 May 2022.
agreed--Currently there is ZERO interest in these shares
Rrr assets on the balance sheet are a fabtasy dreamt up by carpet baggwr in cheif , bell. Look at todays rns, " a key licence' a back filled empty mine that is inaccessible. Then of course he lifts the viel just enough to tittilate you ..100 years ago they had gold grades of 14oz per tonne, really ? Why did they stop then? Oh thats right that was the higest grade you could find a one off to make a headline.. they stopped because they could find no more gold at commercial grade. Go back and read what bell said about greenland all tbise years age, its as 9f he cut amd pasted the same nonesense and just chamged the metsl and geography. He is the ultimate carpetbagger, no doubt this will be hyped up amd the share price will spike.. locking more poor pu ters in
Revealing your true self there Darien. After you put all that effort into being informed and rational.
You need to look at what is regarded as commercial these days and the relative gold price. What you think doesn't matter: both AB and PJ think the grant of 330 is key to getting NBGC listed. The proof of the pudding.... They either list it or they don't.
DYOR
specinvestor99
"I understand that prior purchasers who still hold RRR bought at significantly higher prices.........."
Nope, not one of those poor souls but I can guarantee that you will end up as one of those who thinks they've bought in at the bottom only to be diluted by further share issues then diluted again by the inevitable consolidation.
TDT
https://twitter.com/RRR_RedRock/status/1529005966259273728?t=DXeE163IWhet2uF6X-26iQ&s=19
https://twitter.com/RRR_RedRock/status/1529007145814999041?t=fu7_BsqCUyjoPmBXjoobsg&s=19
looks like the market has spoken, no one seems to care about a license for a backfilled tenement.
If you are not a RRR shareholder past or present then why are you here?
I will repeat a portion of my prior post which relates to your issue:
I understand that prior purchasers who still hold RRR bought at significantly higher prices and are disappointed with share price and it very well may be that I too may be disappointed in the future but for now there are multiple reasons to be optimistic
I invest looking towards the future
I will repeat a portion of my prior post which relates to your issue:
I understand that prior purchasers who still hold RRR bought at significantly higher prices and are disappointed with share price and it very well may be that I too may be disappointed in the future but for now there are multiple reasons to be optimistic
I invest looking towards the future
Likewise specinvestor99
"I understand that prior purchasers who still hold RRR bought at significantly higher prices.........."
Nope, not one of those poor souls but I can guarantee that you will end up as one of those who thinks they've bought in at the bottom only to be diluted by further share issues then diluted again by the inevitable consolidation.
Look forward all you like. It's the past you need to learn from.
TDT
when I invested a couple of month ago I anticipated that RRR would have to raise additional funding around $1.5 million
IMO successful investing means look at the past but invest with an eye to the future. Its those future events which will determine the future share price
Simplisctically I invest in 5 stocks which have the potential to go up 10x my goal is have at least 1 hit that target
thus i will be wrong 80% of the time but make at least 2x my money
An negative opinion will be right 80% of the time whereas I will only be right 20% of the time but make 2x my money
So I have to live with being right 20% and you can be right 80% of the time. I am OK with that
----------ARE THERE ANY CHARTERED ACCOUNTANTS ON THIS FORUM?----
By Chartered Accountants, I am referring to those qualified [fully] and can sign off
company's accounts for listed co's etc.
Ref: There was a post on this forum today, Tues, 24 May 2022 REFERRING TO RRR'S
BALANCE SHEET AND ASSETS.
Maybe, laymen are not nuanced that these have to be SIGNED OFF after auditing by
an accountancy firm and filed.
Also, ASSET LISTING is done and checked by the auditor as part of the auditing process by the accountancy firm.
Maybe, if someone is a Chartered Accountant they can quote the para , sub-section
of the regulations etc and the penalties thereof as norm.
It appears that 1 poster thinks that the Balance Sheet of any co are a "FABTASY" [post at 7:21am, Tues, 24 may 2022] and is NOT nuanced in accounting, auditing, asset listing, revaluation, impairment etc and that the RESULTS RNS [Interim /Annual Report] carries
needs a short statement by the AUDITOR eg going concern etc and SIGNED by the auditor for submission to the London Stock Exchange as Regulatory News.
I qualified in 1986, the asset valuation of resource companies varies wildly in an environment that rrr operate in. It is nearly impossible for a firm of accountants to acurately ascertain the real value of sich aassets as they chamge so quickly amd thete is a largw amount of faith uiven yo the directors on companies that are small like rrr amd have very diverse and geographiclly spread assets, that said it wouldmt be the last tome a set of dorectors mis represented their assets as rrr have been proven to have done over many years. Loon at the many writeoffs in the past . Some huve ones. So dont try to play the' if yhe auditors have signed it off it must be true ' card, it aint that straight forwatd, but then as a lay man ypu wouldnt understand the mechanics
darientaylor
@22:17,Tues, 24 May 2022.
You stated you qualified as a Chartered Accountant in 1986. However, you said you qualified in 1986 to be accurate. From one of the interview, Andrew Bell, Chairman, RRR said that the Congo assets have been written down to some £590k so obviously IMPAIRMENT has been taken into account of the Balance Sheet assets in RRR accounts.
I stated that the AUDITORS have SIGNED off the accounts and if you are an accountant [qualified] but you did not elaborate whether Chartered etc. There would have to be an
ASSET LISTING of the various assets. Paul Johnson and other CEO's like Kiran Mozaria of KDNC go to an investment bank to VALUE their projects like AMAPA last owned by Anglo American.
So, NOT CORRECT as it appears that ANY ASSET CANNOT BE VALUED . AMC has just had a US$105m offer for Kun Marie and they have had a valuation done between higher and lower figuress to take account of the Russian situ and assets in Russia given that a discount must be applied.
So, NO DOUBT all the assets could have a VALUATION report attached to it by an investment bank that specialises in natural resource co like Hannan, a Tier 1 investment bank for resource co with the Chairman from JP Morgan previously.
How do ACQUISITIONS and TAKEOVERS HAPPEN IF ASSETS CHANGE QUICKLY as you say?
This is in the mining sector for example Anglo American has just JV with ARCM for some $83m and that also requires a valuation.
How did GANGFENG take over Sonora [BCN] if they cannot value an asset that is not producing but only with a DFS?
If you think that there is mis-rep in the industry, yes, that can happen and if you believe in this case, then you can go to the AUDITORS of any co to tell them and BURDEN OF PROOF or some evidence must be furnished as to why. No doubt you can go to the Stock Exchange specialist dept to also put in a report and they will also investigate if you have some basis for this given esp you are or you say you are a qualified accountant.
So, IF YOU DO NOT GO TO THE AUDITOR, STOCK EXCHANGE , then it appears to be
what I am not sure?
Just as today, you posted about Victoria licence and that the RRR tweet was ...advice but it was FROM A CONSULTANT GEO AND THE TWEET BY RRR WAS QUALIFIED by we'll see.
As an acountant , you will KNOW ABOUT LISTING DOCUMENTS AND ALSO THE NEED FOR A VALUATION REPORT to the Oz Stock Exchange.
I hope this clarifies.
With due respect. Tues, 24.5.22 Just asking.
P.S.
I would also like to add this as an example:
RRR share price 0.35p to sell and 0.4p to buy[advertised, not live]. MKT CAP : £4.5 -5m depending on the spread etc.
CONGO ASSET [MUSONOI COPPER AND COBALT]:
There have also been TWO Court cases won by RRR in Congo, hence why the $5m can be now enforced legally next.
Also, the RRR lawyers etc - it was part of a package from the interview/s [2] recent post RRR Interim results of 29.4.22 on Proactive /Stockbox Media that this said ASSET WAS FLIPPED TO AN INTERNATIONAL CO for some US$250m.
This is also subject to LITIGATION OUTSIDE CONGO per Mr Bell in the said interview/s as said.
So, NOT CORRECT that ASSETS cannot be valued given that on the open market, the value
could be more as there would have to be a VALUATION REPORT. AT INTERNATIONAL ARBITRATION A VALUATION REPORT would have to be PRODUCED IN COURT. So, at any given moment in time, a VALUATION REPORT CAN BE COMMISSIONED at an investment bank
specialising in resource/s.
----------QUESTION: BASED ON THAT ALONE, HOW CAN IT BE GUESSED THAT
THE RRR INTERIM RESULTS OF 29.4.22 WITH EXPLORATION ASSETS LISTED AT SOME £13M [kindly check as this is from recall] HAVE QUESTIONS ASKED [not by me by the way] ???
The Congo Musonoi HAS BEEN SOLD OR RATHER FROM MR BELL FLIPPED FOR US$250M.
In the latest interview, he quotes US$150-$250m which is presumably the range needed.
I believe Valmin code gives a range if there is a new valuation but Mr Bell did not elaborate but I am sure he will do so next time ie between flipped price [A.Bell] and the said valuation.
So, one always counter-checks as much as possible to see if there is some valuation out
and in this case, there is THE CONGO Musoni asset sold. RRR IS SEEKING US$15M [50.1%] from Gercamines, the state co and they want to know who to pay to given they need documentation. RRR stated in one of their statements that they have supplied this.
So, how did the US$15m come about if there was no REAL VALUE/valuation done and $$$ collected or paid out by the BUYER?
DYOR.
re $15 million
This is my understanding
The assets was sold for $20 million of which $5 million was paid (nothing to RRR)
This leaves a remaining balance owed of $15 million Ignoring the 2nd deal for $250 million
RRR should have been paid $2.5 miliion from the initial payment. This gave rise to the court order of $2.5 PLUS damages.
I believe a bank is holding the $15 million and wants documentation/clarification as to how and to whom to pay $15 million
However if the bank (really the people who work for the bank are more likely since this would not have been an official bank action) was somehow involved in the illicit scheme for the $250 million. This may proceed more slowly than a simple payment transaction (as RRR simply providing bank wire instructions and saying now pay us)
there are misrepresentations in the mining sector, I am sure those companies you mentioned did their own due diligence and not relied solely on what those companies told them on face value, also I think you will find in each case they had a CPR and not just the rantings of a caret bagger... anyone who has followed RRR over the last 10 years as I have will know that some of the resource statements spouted by the management have been wildly exaggerated with monotonous regularity
specinvestor99
Thank you for your post of 14:54, Wed 25 May 2022 which enlightens on the Congo Musonoi [50.1% to RRR] copper cobalt asset [also mentioned in RRR's Interim Results of 29.4.22 + 2 Interviews by A. Bell, Chairman, RRR via Proactive and Stockbox Media, post these results.
Recommend.
--RRR ASSETS - BALANCE SHEET, RRR INTERIM RNS, 29.4.22
Anyone that is a shareholder of RRR can attend the next AGM [Q & A inc] can ask Mr Bell
if the said exploration assets of £13m in the Balance Sheet, Interim Results RNS of 29.4.22
has been INDEPENDENTLY VALUED BY A RECOGNISED INVESTMENT BANK.
Or if they are interested, they can ring Mr Bell to ask as that is called DUE DILIGENCE [Dyor] OR rings the NOMAD to ask.
That is the best way and one can make sure [or as sure as possible].
As for me, I think, this topic is now fully covered.
my comments dealt with my own personal investing style. I do my own DD. I have made investments over 40 years and not once have I encountered a CEO (of a small mining/exploration company) with a posittion of dont buy these shares. Our future results will be bad. They always have cavaets and conditions for those forecasted future events
Even now AB/RRR state conditions on those future events.
IMO RRR is not an investment it is a speculation and there is vast difference between buying shares of RRR versus British Petroleum