The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Kimi, could you explain “the free warrants” to me”?
I thought the warrant holders actually paid money directly into the company following a 200% gamble that they would have any value at all !?!
Ironically - Could also be viewed that normal shareholders (other than IPO shareholders) actually contribute nothing to the company by way of funding or helping the company to grow?
Just thinking out loud
Thanks Hawaii for your balanced 18.11 post
A very good reflection of what been going on behind the scene - RRR needs to deliver on the DRC court case, a further International court case in Switzerland or London, the IPO of RRRAL and continue the build of RRR ALR for sale and ongoing royalties while looking to sell surplus assets
That is where the short, medium and long term shareholder value is .
Years ago I believed RRR could bring an asset into production but I’ve now realised the company is just a stepping stone between land owners with mineral rights and increased value due to survey activities - the problem has been we never released the value built up in the asset to create value.
Re “Bell is on thin ice” he’s not ….. he’s latterly been doing a good job and went well above and beyond with the 6 week stay in DRC. When the court settles (and the cash is in escrow, and will be paid direct to RRR) the market cap doubles and hopefully the shape price increases even more.
Trading today from 14.30 GMT ???
Fingers crossed for a short spike above the 0.74 offer price
Agree not a big fan …… but ….. if the company can get funding of an additional £400,000 for development then maybe we give them the benefit of the doubt - just hope the SP can reach 7 or the warrants won’t be exercised anyhow.
Ok so who’s taking over? As this is a one man show, how does it go on without AB?
Moan as much as you want but he’s done a good job this year - this company now pivots on elephant oil giving the cashflow to develop the projects we have to a value point for a JV - we are not there yet!
Would I like to sell something, YES - Would I like some mining revenue Yes - Would like a ban on new projects -Yes - Would I like a proper company structure Yes - Would I like him to appoint a number two who’s not a puppet Yes - but getting rid of him is not the answer ……. at this time.
PQE own the IP and grant the licences that TOM use to clean their oil sands - currently subject to a hostile takeover @ $0.74 CAD compared to a suspended stock price of 0.195
Agreed - not the best news BUT on the plus side we get another 45 days to see if investors can escape via a re listing on the TSX (partial jam today rather than a constantly extending deadline) AND to see if there really is a second offer circulating (min $1 Cad needed for me to withdraw from Viston but unfortunately triggering another 3 month wait)
I only mention a potential second offer as reading between the lines PQE look to have deliberately not supported the CIFUS return to force this extension - why would they do that ???
In the meantime come on TOM …. let’s get my warrants in the money
Burkino is a 1- 2year project hopefully ending in an IPO - so let’s see where we get to?
RRR is slowly becoming a proper business, with local management teams being installed and less of a one man show. A good step forward.
We have exploration assets galore (not sure how as the auto dilution funding has been turned off but he keeps prospecting) and at the moment we need to support AB as he’s doing a good job.
Will shareholders see any value or will the money just go on further new projects as it always has will be shown this year. Let’s hope there is a change and we get either a share uplift with the hopefully the Elephant Oil proceeds and any DRC legal compensation funding the company…… or maybe even a small distribution/share buyback.
Re your comments re AB - I have to admit that I to was very critical of AB for not delivering over my holding period but at the moment he seems to be doing all the right things.
I was critical to him personally saying “RRR was just a one man band and more akin to a supermarket who bought things and hoped someone came in and bought them!”
Now with the spin outs, the appointment of management on major projects and the activity from AB himself ………. this now feels like a real company.
Fingers crossed for the court case ……and the bigger one to follow
Personal plea - can we sell something so we have the cashflow to develop the many many many undervalued assets we have.
AJ
It’s all on the Petroteq website .com if you haven’t found it
Agree Canada needs to reopen ASAP for those who don’t want to wait till Feb 7th.
Agreed - good synopsis of where the company is up to and a good route map for 2022
It looks like things are finally starting to move and there should be enough good monthly news to maintain or drive ourShare price forward
“Do we have enough capital to drive all projects forward?" - let’s see how the court case goes next week - we’re apparently suing for our current market cap and that’s just the start…… does that not double the SP in one go if we can get settlement?
VELA ? not come across that name before - who are they and are they listed anywhere?
So, if I’ve got this right - you enter Red Rock in the search box (top right) and then return - you then get a map of the licences granted to RRAL which seem to surround the valuable Ballarat TenancY- if that’s right then the licences look very very substantial.
No wonder this asset is worth IPOing.
.
Very good interview - glad POW are showing RRR the way forward regarding creating additional listing income via RRRAL - now we just need the remaining Australia licences issuing, a selection process as to which we keep and which we list and sell on/spin out for initial capital, warrants and ongoing royalties - must be any day now surely ??
CPFC- I used to agree with you until I recently realised RRR is just a supermarket!
Non of the projects will be brought into operation by RRR - they are there merely to be sold with hopefully a % retained interest. This is why we see the endless RNSs about revisiting databanks, field logging and surveys - all trying to increase the marketable value of the asset above the price RRR acquired it for.... ........ Not the SP
Yesterday - What should have been a fantastic, long awaited Resource RNS on Migori (following all of the above activities) was obviously not seen as fantastic as the SP went down (I was hoping to closed around 1.6p) and I now wonder if besides an actual sale/farm in transaction there is anything that will spike the SP?.
Yesterday’s RNS seemed to confirm - If the gold price is $1800per Troy ounce once processed, then consequently (as I’m told) the value in the ground is taken as $32 - so yesterday’s RNS confirmed the inground value of our “ do nothing it’s already there gold” to be £ 23 million on a Company that has 4 other assets and still has a minimal market cap of £10 million
How can that be right ?
Zoo, not sure if you’ve caught this (your last paragraphs below) Andrew can’t issue any more shares as that was the withdrawn item 5 at the AGM! This seems to mean all future raises either have to be with consent of shareholders or on a commercial basis externally.
The commercial basis needs the consent of the board, which as Helpful explains below, cannot simply be waived through as AB no longer has a magical casting vote !!,
Not sure about you, but raising and spending money to finish the projects we have underway will always pass the vote but plans to buy any new Whacky projects will fail - so it’s down to our board now to deliver and protect our interests and deliver at least 1 of the 5 company changing projects we have.
No this is not the last raise - how can it be?
You have to pay to drill in DRC. Pay to drill In Kenya and An AUS stock market listing does not come cheap. I think same again in 2- 3 months time.
I should be livid this morning but find myself thinking we now need to spend to get over the finish line - so get spending.
One asset sale, one JV, one farm in with royalties or the proceeds from an RRAL AUS/ Canadian IPO and this board will be in a better place and the SP up multiples
My only fear for the future is that if any of the above occur - Will Andrew Bell have already spent the money on another NEW wacky long term project rather than monetising and finishing what we already have. There currently is no mechanism stopping him doing this and that’s what needs to change!