Member Info for HawaiifiveO

It is very good news except for those who are short hoping the company would place stock through a bucket shop broker, they will now have to close their positions in the market - oh dear !

It is interesting that Miles Pelham is still kicking around in the background supporting WBI, I deem this as good news as he is very well connected.

The financing will also allow them to explore the possible sale and leaseback of the Gabon properties from a non distressed position - that could deliver another $15m into the coffers.

So Armageddon that the bashers have been forecasting has not happened, the company is now able to concentrate on growth and delivering shareholder value.

Very hard to buy in any size over the last few days, it looks like folks are taking positions ahead of telegraphed news.

It has been a long wait and the market makers have dropped the price on very low volume over that time, the current SP looks a fair bet for upside therefore.

Get a decent spike in volume and who knows where the SP could go to, the stock was trading at 8p this time last year.

Helpful some moons ago the major shareholders made great strides to stop AB issuing shares without permission, for a very long time the share count remained stable, all of a sudden this group allowed the brakes to come off, as a result Bell has issued 1 billion shares in 6 months. What changed the groups mind , the group also allowed Bell to go to death spiral funders (Bergan & Riverfort) in the knowledge this would destroy shareholder value, this is very odd behaviour from the largest investors in the company.

Also whilst in discussion what is your view on New Ballarat Gold, has this project been relegated in importance, I notice that Power Metals have gone quiet on it also, the licences are slap bang in 'big hitter' miners territory as well being nearby to AIM minnow ECR - it was supposed to have been listed by now but nothing, could it be sold ? How much could it fetch ?

There is so much going on at RRR currently it is hard to keep pace but AB needs to be restrained from issuing shares like confetti if investors are to be seriously rewarded don't you think, a few posts back I suggested if all goes to plan 1p a share could be attainable, I stand by that, only time will tell.

You can never rule out a takeover offer or merger, this time last year WBI was valued at £100m, it is currently valued at a mere £13m.

Yes there have been some large trades, it does look like 'in the know' buyers - the share price strength is a clue.

Many options are on the table - the upside from current levels could be significant.

No mention has ever been made about the sale and leaseback of the Gabon property during the current situation, it was suggested it could be worth $15m to WBI and they were exploring a sale with a local Real Estate broker.

One wonders if they have completed a sale and a announcement is expected, the shares are rising for a reason !

If a sale completes then it's game on and 1p+ a share is possible.

Close followers of RRR always knew it was likely there would be final tranche of share issues to clear the loan sharks and have a a level of the cash security in the bank, this has now been achieved.

It is worth considering the level of prospective upside here in my earlier post, based on the lithium revenue projections made in December by the company geologist ($400k - $600k free cash a month) to RRR the target price of mid .40p still remains in place and its conservative, giving a market value of just £10m.

We now know the company is funded, debt free and significant news is expected across multiple fronts, the shares will accelerate from current levels for certain.

DYOR etc.

With 2.3 billion shares in issue, it looks like a near term target price of .45p based on prospective Lithium revenues from Tin Hill is likely - it would offer a market value of just over £10m.

Andrew Bell said in the Stockbox interview tonight that a full financial model of Tin Hill will be available within 2 weeks, we already have a indication however.

The interview with the company geologist in December suggested Red Rock would receive $600k FREE CASH a month from Tin Hill (I am sure Helpful will back this up) however I prefer to be ultra conservative so will go for $400k, based on just 3 times earnings it would deliver a market cap of £11.5m.

Then add to the mix the potential of $10m from the Congo, or the float of Elephant Oil.

If all falls into place a share price north of 1p cannot be ruled out, but near term .45p is base case and possibly attainable sooner than later.

At current levels, given the unexpected speed of events the shares look dirt cheap, no wonder Bell wanted the death spiral funders gone.

DYOR etc

Whilst the information and interviews are very upbeat and encouraging it is way past time Bell does something about his terrible audio, I suspect he is using a computer from the dark ages.

Helpful I have talked about this before, for goodness sake speak to Bell about this, these interviews cost money and we need to hear clearly what he is saying. On the other BB someone said they had to use subtitles to get the gist of a previous interview because the sound quality was so poor.

It does look like, from what I can hear, there has been significant movements in the Congo regarding RRR's cash, it could be $7.5m/$10m or the full $12.5m Red Rock are rightfully owed - news on this can come at anytime, at least $10m of this cash is held in a escrow account of a State company and they have confirmed they will pay once all the paperwork is completed.

One of the reasons for the meeting today was to allow RRR to issue around 135m warrants with a conversion price of .35p - Bell has suggested (via his A@VFN alias) speculation the company is going to place stock is incorrect.

Lots of negative misinformation being posted both here and elsewhere tonight, no doubt by entities with commercial reasons, they want in lower.

My bet is there is more news in the wings.

Aunt Ettie posted this on Friday, Ettie is almost certainly Andrew Bell

He is suggesting talk of a placing is bad market commentary. My view, there is more news to come and SP will respond accordingly, no need to raise therefore.

The post ...............

'The company raised funds quite recently and in the upcoming GM is requesting authority to issue a maximum of around 1/6th of its currently issued equity over the period to year-end, more likely much less. Refinancing can be carried out by pushing back payables and loan repayment obligations, which has been done time and again here. All this is to say that talk of a cash call is contrary to what the company has communicated, and as such can be disregarded as bad market commentary'

This interview has been requested, it explains the costs, margins, equipment, profit, levels of production etc.

https://youtu.be/NOnrrqMgdg4

According to a interview conducted just before Christmas it was suggested Red Rock could receive IRO $500,000 free cash a month from just one licence area, selling locally, if I recall they have multiple licence applications pending.

If the above revenue is attained you would be looking at annual free cash inbound of £5m verses the current m/cap of £3.5m.

RRR equity rose from current levels to 1.2p back in September 2020, this news could be the driver of a significant value re-rate once again.

The concern has always been there would be no offers of finance but this suggests differently, announced today...

'At the time of writing, multiple different funding offers have been received including debt, equity and hybrid structures and a decision on which avenue to take is expected in the coming weeks'

Very hard to buy in any size over recent sessions, it has been pointed out on the other site there is very little chart price resistance to 2p which includes a 'gap' to 1.95p that has to be filled.

Add to the mix news is due, my bet is it will be on Grangesberg, in the Mining Network event back in February Jo said they hoped to secure 100% within 4 months, if they do then there would be immediate options for AYM to sell it or IPO it.

I cannot see the SP staying at current levels for much longer therefore.

Https://www.youtube.com/watch?v=bt077MOCdrI

Https://twitter.com/StockBoxMedia/status/1666054430095974400?s=20

This is very positive for WBI, they have negotiated with the bank so no need for finding $2.8m in a hurry.

It looks like they are in discussions with others to (a) secure a new bank facility and (b) defer some debt, no mention of the potential of a $15m sale and leaseback of the Gabon property but it could realistically happen.

Non dilutive funding seems to be the preferred option for the BOD.

In all a very pleasing outcome to date, the naysayers, once again, have been proved wrong, my bet is the share price will look after itself, it hit .75p two weeks ago on speculation, my bet is it will return to that level quickly, more positive news then 1p+ cannot be ruled out.

DYOR etc.

Another TR1, ups his stake to 6.55%, now holds 138m shares, cost circa £200,000

RNS today re a General Meeting, no other comment except says all will be published on the website, so far nothing is on the RRR website.

Now what is going on ??

Here is the link for the chart analysis - suggests 16p is a reasonable near term target, one suspects the new team have aspirations well beyond that target price however.

https://twitter.com/Share_Talk/status/1664583912306413569?s=20