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If you had invested £37,500 in this company 12 years ago your £37,500 would have lost £37,499.65....but you would still have your 35p....which is better than some of my 100% losses....lol.
When I last spoke with Andrew Ronald McMillan Bell.....he said he felt it was difficult to make shareholders turn a profit due to capital market conditions!
He doesn't personally seem to have suffered much, however.....and I'm glad I hadn't put all my eggs in the one basket....but I did lose tens of thousands here...and RGM (sister co.)..and a lot more in CGNR..!
It's imperative that you know when to get off the train and back on if you want etc. otherwise your doomed to crash hard....lol!
I found this tweet a while back and saved the link - it shows data from 2006 to current, if you had invested £1000 in 2006 it would now be worth £14
https://twitter.com/Oilplayer2009/status/1514899655561261058?s=20&t=nW5n59P-22NxdbT18XJ5CA
30 billion shares issued - the market cap of Red Rock has only exceeded £10m three times in 18 years - £25m raised via placings in that time (excludes CLN's, loans, death spiral funding etc) Andrew Bell must have taken out £2.5m in salary over the period.
It is more than damning, but don't worry the major shareholders have total faith in Mr Bell !
Completely agree and well said. He’s robbed a living for too long has Mr Bell.
I work out that the £14 should actually be 5.6p....he may have missed a share consolidation or two?
Are you totally out of CORA Hawaiifive0?
In the end he found THE asset.
Unfortunately it was stolen from the company and shareholders
We await news in arbitration
ok brainspark....but the damage was done long time before "THE asset" and if this find had recovered my £37,500 from 35p to £1.20....soon to be £10 maybe....am I to be expected to be overjoyed?
Read your own earlier post. You might benefit from it.
Are you meaning knowing when to jump back on for a bit.....Helpful?
What you are relying on to make money from the jump in/jump off technique is some poor fecker jumping in and either staying in or jumping off at the wrong time. Enterprises like Red Rock don't make money they're merely a vehicle for shifting it around.
TDT
You got three wrong, you can't blame AB for Conroy Gold. And timing. Both yours and others.
On RGM, AB was right about coal but l out on his timing. Plus he shouldn't have closed on the deal when the other side changed the terms.
DYOR
Helpful,
remember the title is LTH.........and explaining and proving that the only way to survive at all is the guessing and being lucky in the timing.....Whatever way you look at it...if you invested 12 years ago.....£37,500 which is now worth 35p........it's hardly inspiring? and certainly giving zero confidence in choosing to become a Long Term Holder?
I do not blame A.R.McM. Bell for Profconman rip off of CGNR LTHs but I cannot condone a failing CEO of profiteering at the expense of their shareholders. Over and Out.
2010 was when AB was regarded as a superhero, RRR had recently acquired Migori and was steaming ahead and the metal market was about to turn but hadn't turned yet.
Classic PI timing. The time to buy assets is when no one else will touch them with a barge pole. Buying because something has gone up so much it is bound to keep going up is just greed and a basic mistake.
For instance, all the e-coin and NFT stuff was a classic bubble. I had people telling me I was stupid for not getting involved. I think at least one of those people has been wiped out. I was asked to get involved with an e-coin start up about three years ago and said no.
Same here. There will be a time to sell and it is not yet clear when that will be. Once DRC is sorted, the next big item is the case against Big G.
DYOR
Helpful you say once DRC is sorted. Would you like to hazard a guess how much longer it will take for the funds to be released and perhaps how much money we might get?