The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Thanks Spec, food for thought re a possible time delay between order and payment being made.
Not sure it changes the model but you’re right the cashflow could be 3-4 weeks in arrears if your senario is correct
Fingers crossed everyone - this has to work - for RRR to work
Spartan have started their Elephant Oil fund raise. If they get enough they can list on the stock exchange and then 6 months later RRR can sell their holding
I’m hoping that by the time the lock in expires EO will be meaningless in the scheme of things
Spec, I believe that ALR are now onsite with erected fences and security. The problem was apparently local farmers who were being paid by local Chinese business men to basically dig out land and send it for a processing.
This site was previously an old Tin mine surrounded by farms so there were no access controls. So once it was known that a mine was starting it became of interest to anyone wanting a quick buck.
The good news is that as compensation for the delays ARL now inherit a new valuable access road and a sorted stockpile that was partially pictured yesterday.
If anything does arise going forward, the National Government, the local mining Director and the local Police Chief are on side. We have AB to thank for getting these assets to the table and deployable should they be needed. ie no court cases needed.
BBB - I don’t understand your scepticism- ALR either works or it doesn’t.
If it works then RRR will be over 4 times better off than Helpful ! There is no distinction between the two only percentage share holding.
More importantly it will be on a monthly basis.= regular cashflow for the first time.
If AB does not go and buy something stupid then the 6 or 7 projects that we already own and were in the same position as ALR ( waiting to be progressed if only there was some Capital) can be progressed to monetisation.
Additionally if the money from the DRC arrives - then RRR will be; and remain; debt free!
Time to pick up some cheap shares everyone and forget the past.
It’s not a coincidence that there is a UK ALR - probably the idea was to IPO ALR but as you know that we are not very good at that and it takes forever. I assume that’s what the UK company was for.
Helpful is quite correct, take the proposed ALR profit and subject it to UK Corporation tax and you lose a massive amount in tax if the business is run from the UK. No doubt the vocal shareholders would then moan at that.
The % reduction that RRR holds has reduced as you describe, because of External investment directly into ALR to get the project up and running. That’s why the statement “fully funded to production” has been made.
RRR has no income - so the only route open to raise finance is through the issue of shares or high interest loans - the income from ALR will save this company and fund many other projects we have on the go.
Good luck all -I’m hoping for a reverse in SP
Come on then Capt Kurt “ Tell us about the environmental permit timeframes in Zim.I'll let you reply to that before I post a link ( It is months away if approved “
I’ve eagerly waited long enough - post your link ???
Brainspark - I have to admit to being completely confused. Why can shares not be issued below 0.2 ?
Why will there be a suspension regarding clarification (of what)
Can you explain so I can follow the conversation and your thought process
AJ
Like you Robins, I thought today was going to be good news day?
It’s not like there isn’t a lot to say:
ALR - waiting for second Environment permission - then simple dig and sell production can begin
DRC - Mr B .has his cheque for 51% of $15mm
Expensive funding agreed in Dec not completely needed
Joint venture on another asset announced
Case against the mighty G commenced
3p takeover bid for all of RRR assets
Then the alarm clock went off and it was a “silent Monday morning” !
Fingers crossed for later in the day, week or maybe year
BSpark - There is currently no replacement for AB and no one in their right mind would join RRR on £150,000 when there’s £60,000 in the bank to do a job that involves weeks away in hostile countries and constantly raising invisible money for countless projects.
So we wind up or AB continues with his one man show.
Come on everyone (especially Chatty) What do you want to happen and in what order?.
Can’t say I disagree with most of what you say! Its mostly factually correct.
Could I ask you to list the 10 actions that you would like to see from RRR and shareholders, then the many many many words you’ve used might appear more than a long winding whine.
In short, what do you want to happen ……l and in what order?
Silence broken.
Appears the company has income solely from the Fouke field of 81 bopd or circa $3,000,000 per year with only a market cap of £2.1mm sterling - surely this is too cheap and the SP will naturally correct itself upwards from here?
Fingers crossed for a raise.
I’m sure I read or heard the content of an interview that AB was kicking himself for being too vocal about what he had said and documented.
His thinking was that he told too many people how good the asset was and consequently …..it was nicked !!!
Have a good weekend
Step by step …. Let’s first judge AB against the 51% of the $15- $20,000,000 that was allegedly paid to our partner (VUP) get the illegal sale done - then he can chase the rest (it will take years) after getting RRRs more immediate projects up and running.
I’m sure there will be costs and % giveaways to get the deal done so anything above $6 million should be viewed as a good result in my mind.
If it’s $8.3mm then the company value doubles and the share price should be a multiple of that as AB now has the working capital to complete value driving projects.
Please remember this company has no income, is propped up by regular loans and share issues so if you don’t like the way it’s run then I’d pray for a share price jump and then exit leaving the rest of us to get on with things
Fingers crossed for something early next week and best of luck to everyone.