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Up 100% in six months.
Bell luckily inherited 93,104,165 share and quickly squandered the lot.
Current price is 36 ausie cents.
So not only have we forgone an income stream of £2m the shares today would be worth £20m.
Very poor decision making.
I’ve been sadly 15 years in this, and nothing in all that time has come good. It has been one wild goose chase after another. In my opinion, a 100% lifestyle company made for management. Their best asset was Jupiter, a 100 year mine life, who wouldn’t want to keep that going to pay the bills whilst flipping other assets. Can you remember oil in the swamps of Louisiana, Steel making in Europe, Candy crush sweets in China, a rubbish deal in Colombia, a $5m drilling campaign in Greenland, owe and £10m sitting in a bank waiting to be deposited, which somehow never arrived. The only asset they had of real value, they lost in DRC for something in the region of $300m and we are chasing for $7.5m without any success. I wouldn’t be surprised if Kenya didn’t provide the mining licence renewal, as they haven’t even managed to do anything there in the 3 years that they had it. I’ve lost 99.5% in this company, not worth selling, lost thousands, and quite frankly, waiting for the lights to be turned off. In my opinion, the very worst management. I hope I am proved wrong, but it’s been shocking and extremely disappointing, with little respect for the shareholders.As for all the tweets on Gold price etc. who cares. Everyone can read, but in my opinion deflecting from the real issues of not getting JORC in Australia, not securing mining continuity in Kenya, losing DRC, just irritates the owners of this company, the shareholders. Take POW, and news flow comes all the time, excellent communication with shareholders and if they don't succeed, one at least knows they have tried. All my opinions only, but DYOR over the 15 year period. History tells us a lot.
Playtime - you outline 15 years of abject failure, and explain why there are thirty individuals who bash this share. Like everyone I'm sorry for your loss.
Maidit / news / helpful and even Nike with some of posts should pay a lot more attention to that history as its shocking.
Yes this may come good eventually but even if it hits 0.5p [ ten bagger] it's a manifest failure.
Even I get the short term attraction, but this holding out of Bell as some sort of God, RRR assets as El Dorado, and people that hold an alternative view as conspirators is really beyond the pale.
No FASO news again - Bells there IMO trying to sort bottlenecks they don't want releasing. Playtime is right if you've been here long enough you can read this like a book. Next two chapters placing and FASO delay post June IMO.
Thing is Banbury, it might feel like "15 years of abject failure" but clearly it is not. Both News and I have given different examples of upside / success in that time whether by working a creditable source or using historical evidence.
I'll agree the comparatively very good days were a long time ago - there may have been some decent days since as well as downsides - some quite serious but to claim 15 years or more of continual negativity regarding the company's performance seems to be an unbalanced summary.
There's balance and balance Nike.
Playtime 99.5% value destruction and 160 fund raises say successes are very much the exception and incredibly isolated. When we have a success it's oftern an own goal so the Limon deal had three years of legal wranglings.
Anyway short term success for RRR will be no fund raise and FASO production in June. Let's see how they do.
POW update in June will be interesting is it abandoned and CLN renewal in July 24.
All these and dare I say the trust issue of the mercurial 200 tonnes are what matter. All this neighbours and gold price stuff is oK if you are Newcrest but when you are RRR of interest but pretty incidental. Time will tell.
Thank Banbury, you take the wins with the loses if investing over many years, some come good and a few don't, but the sad thing is the amount of opportunities missed as capital gets tied up. Totally my fault, as I believed AB. I actually thought, nicely spoken chap, seems he would be a good custodian of my cash and invest it wisely. How badly mistaken I was. The real issue here and everything I ever write here is in my opinion ofcourse, (others may think completely differently) is the shear lack of regard for shareholders. I can’t remember the exact salary but I think AB was taking something in the region of £280k. I don't mind high salaries but when directors are adding value. Anyone can look at the 10 year chart and it says it all. Then look at a 10 year chart of a decently run company - the exact reverse. Not one thing I can remember being successful that was the result of the directors (not even Jupiter - as that was ex BHP.) That is awful. Para deal was awful, as for some people touting 1.2m oz in Kenya, that’s blatantly incorrect. I think AB is coming to retirement age, has put enough in the coffers and therefore maybe one last pump and goodbye RRR. They need a miracle. Of course I hope one comes.
Yes Playtime the charts don't lie nor do the broker accounts long suffering holders hold RRR shares in.
I think after the abject failure of DRC, Lithium and the promised asset sale FASO truly is the last throw of the dice.
On the plus side Andrew seems to have convinced Sam and Riverstone to fund this.
The absolute unknown is at what price ? Terms of MoU and RRR residual holding in Greenstones [ Faso company] .
I really can't see anything else on the horizon ( I hope I am wrong) but if FASO drifts until say September, who keeps the lights on ?
Definitely squeaky bum time. Like you hope I'm wrong and as Maidit say production in eight days.
Playtime I totally agree with your 20.51pm post last night. I too am 99.5% down on my investment and I also blame myself for believing in AB. I used to wonder whether AB was just unlucky but time tells us he is incapable of completing a good deal for shareholders. Whatever happens here my money is lost and will never return. What annoys me is that AB has been allowed to claim a good salary plus bonuses, free shares etc. whilst in charge. He should have been thrown out years ago. I do not think any replacement could have fared worse. Truly shocking.