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The latest ramblings from Bell, a tweet from last night, make of it what you will, assuming he is referring to collecting RRR money using the wording 'successfully'

Andrew_Bell2019
A trip to Kinshasa that has extended, though very successfully......

So where is Bell and what is the outcome of the supposed $12m cash collection from the Congo ? No-one believes Bell will succeed as per my post on Friday, I expect to see a fudge RNS (or no RNS) it will then go quiet on the matter in question.

I have noticed that Bell seems to be continually interested in the shareholder register, the 'support' from the major shareholders before the AGM was based on their view that Bell was the only person who could get the cash from the Congo, so what if he fails, does their unwavering support continue? I suspect so but why?

It seems one shareholder holds nearly 17% or 204m shares, there are two other TR1's holding around 3% each, according my research they all have averages IRO .75p possible a tad higher. Their combined monetary losses are just over £1m as things stand.

I sincerely hope I am wrong, there is not long to wait, I suspect Helpful already knows the answer.

The plain fact is, earlier in the week, Bell said he was in the Congo to collect the money Red Rock are legally owed, remember they have already won the court battle for a sum of $4.5m, he said he thought it would be achievable during this visit and added that Gecamines (who owe RRR $7.5m) are ready to pay, in all a sum of $12m.

We are now presented with a photo of a very grim looking legal team ?

The market, which has known about this for weeks is clearly not impressed, they way AIM works concerning leaks every man and his dog would be buying RRR shares if Bell had succeeded in the process, either fully or partially.

I fear Bell will fail and a fudge RNS will follow next week, I really really hope I am wrong.

Sorry it is a re-run of last weeks media.

https://twitter.com/StockBoxMedia/status/1535909915872706562

Well Bell has a potential $12m to pursue which is rightfully RRR's, he has gone to Zambia specifically to get the cash, he seems confident.

A more popular company the share price would be surging away, current m/cap £5m, potentially collecting a sum in the range of £5m to £8m - however this is Red Rock and Rhino skinned Andrew Bell we have to account for.

Not long to wait to see how he gets on, by mid next week will it be hero or zero ?

Should have stated new interview today

https://twitter.com/i/broadcasts/1DXxyDpAMjPJM

So Bell has gone to the Congo to collect the money owed and he expects to get it.

https://twitter.com/RRR_RedRock/status/1534171940688220161?s=20&t=61moR_C0JGRlmm3sL--qSQ

There appears to be nothing in the current share price for the clearly ongoing turnaround situation going on at Toople, the last trading update in March they said ...

"Overall, the Board considers the outlook for Toople to be very positive and believes that increased revenue and gross profit figures will be achieved by the Company"

Hard to understand the ultra low market cap (£1.5m) therefore, no wonder some believe the shares could be a multi bag winner in due course, possibly sooner than later.

A few more Tweets recently, first one stood out, suggesting a share price of 0.12p is a realistic target.

https://twitter.com/Oilplayer2009/status/1534070393509642242?s=20&t=61moR_C0JGRlmm3sL--qSQ
https://twitter.com/Mr_K2015/status/1534088268312190976?s=20&t=61moR_C0JGRlmm3sL--qSQ

Seems to be getting a fair share of commentary on Twitter - the stock seems very hard to buy in any real size, always a good sign.

https://twitter.com/Oilplayer2009/status/1533720244484702208?s=20&t=o7j5g_2D9j9aAh9nZMbkMw

https://twitter.com/mozEIGHT/status/1533709795672432640?s=20&t=4meoyhEuPdpH2JIdDRyO9w

https://twitter.com/aim_gravy/status/1532017465005318145?s=20&t=4meoyhEuPdpH2JIdDRyO9w

The sale of CD4 could happen at any time, the CFO recently suggested they had around 5 or 6 interested parties, then stated that it was in the books circa £6.5m, he added he would prefer a fast sale.

Time will tell on sale price but I would suggest IRO of a range of £2m to £5m - material numbers against the current market cap.

Once sold the company will be 'clean' of legacy issues and losses (already significantly reduced) should be replaced by profit from the Health business, ODX is a turnaround play from a VERY LOW base.

No wonder buyers are returning, remember the City look after their own, they will want a significant profit on their recently acquired 4p shares.

DYOR etc.

This is the current situation - why I see ODX as materially undervalued at only £9m market cap.

ODX had £1.5m net cash at March 31st
£2m cash raised recently
£200,000 from Open Offer
Sale of CD4 could bring in £2m-£5m
Health & Nutrition business generating revenues of £9m pa with potential to grow significantly + good margins - EBITDA positive currently

My view is ODX should be valued, compared to peer metrics, IRO £15m to £20m or 6.5p to 8.5p a share based on 238m issued shares right now BEFORE any further developments/upside in the Health & Nutrition business, not forgetting the possibility of a takeover approach.

DYOR etc

As I expected the Open Offer was not taken up in any scale (5% only) this is pretty good news actually as it avoids further dilution and that will assist share price recovery in due course.

I have been checking online limits regularly over the last month and one thing sticks out, namely, the market makers will not sell large lines of stock (100,000+ shares) at anything like advertised prices either at all or not for long before they mark up. This to me demonstrates that once decent news hits the market the shares are poised for a very acceptable percentage rise.

As I have posted historically the shrewd are accumulating at current levels, it is almost as stupid not to buy now as it was to buy when the share price was 80p+

Omega is materially undervalued IMO.

DYOR etc

Baron Investments has bought another 4m this morning, now up-to 8mshares.

https://twitter.com/baroninvestment/status/1529738690129444864?s=20&t=D0GUgVXRKdMWhbcfrJRdkg

Another shrewd investor here, looks like ARCM is starting to attract a number of HNW investors
https://twitter.com/Oilplayer2009/status/1529008863625760768?s=20&t=qBtqOTJ7irdes7hkQ4t7yw

I forgot to mention my 6.5p to 8.5p valuation of ODX is based on the CURRENT situation, the bashers have worked so so hard to condition readers to believe that upside will never ever come again, that ODX share price will never ever recover, that volumes will never ever increase, that ODX will never ever be a worthy investment, the list goes on.

The wise are buyers, the company is a turnaround play, everything negative is already significantly discounted, there is nothing in the share price to account for a modicum of positivity.

Can the share price reach 10p-15p this year, you bet it can - buy low sell high, ignore the (paid) bashers scare stories, their bullets have run out months ago.

£1.5m net cash at March 31st
£2m cash raised recently
Sale of CD4 could bring in £2m-£4m
Health & Nutrition business generating revenues of £9m pa with potential to grow significantly + good margins - EBITDA positive currently

ODX is materially undervalued @£9m m/cap

No wonder all ODX bulletin boards are full of bashers working 24/7 - wonder who 'they' work for, maybe the not so illustrious web based so called Sheriff of AIM whose modus operandi appears to be rob the poor and give to the rich.

My view is ODX should be valued, compared to peer metrics, IRO £15m to £20m or 6.5p to 8.5p a share based on 233m issued.

I'm sorry but I simply do not agree that the share price is not being driven down by the upcoming expiry date of the 3p warrants, I have watched a number of such companies when in the money warrant expiry date approaches and in every case the share price drops.

Warrant holders have to find cash from somewhere to take up the warrants, in most cases (not all) they have to sell their existing shares in the market or they acquire the warrants and then sell them at a profit. I accept that some investors have cash to take up the warrants and hold them but I suspect that percentage is quite low.

My view is the shares are now in the buy zone even accounting for warrants, as indicated in earlier posts I believe most of the warrants are now exercised and the debris from them will shortly end, the share price will recover and re-rate.

The shares hit 6p on the deal with AA, it hit 9p last March, you can currently buy sub 4p, but not for much longer IMO.

The last Blocklisting review clearly shows that there were only 22.5m warrants left to be issued by June...

https://www.investegate.co.uk/arc-minerals-limited--arcm-/rns/block-listing-six-monthly-return/202204141435184643I/

Obviously some folk who have taken warrants and converted them will not sell them but equally many investors do, the intra day rise to 6p on recent news would have offered warrant holders a 100% increase so I do suspect that the SP has been hit by some warrant holders converting and selling.

In any-case the 'issue' of warrants will shortly be a thing of the past which is good news.

I am in no doubt that the last dregs of the 3p warrants are being forward sold, they expire in June, according to my calculations (see below) there are hardly any left.

Unlike many AIM listed companies ARCM do not RNS warrant conversions when they occur but provide Block Listing Reviews, the last BLR stated there were only 21m 3p warrants to clear but that was to the period ending 17th of March.

The pace of warrant conversions is very high, on the 24th February there were 56m 3p warrants outstanding, around one month later only 21m, so 35m issued in that short period.

To conclude, most of the 3p warrants have now been cleared out, the subsequent drag on the share price is nearly over, it seems a perfect opportunity to buy or add ahead of a strong news-flow period, without the headwind of warrant conversions the path is clear for a material re-rate.