RRR/PREM17 Apr 2023 22:16
At current levels Red Rock is a binary play, I would suggest a punt at current levels is a very good bet. The few readers/interested parties we have on this BB may like to consider what happened at PREM.
I attended an event in London where the much despised (at the time) George Roach presented PREM, the share price was around .12p - the gaggle of attendees were sceptical, complained about never ending dilution and frankly disbelieved everything he said, some called for him to resign, he even had to phone Zimbabwe on the night to get the site manager to back up a claim he made such was the skepticism.
At the time PREM had 18 billon shares in issue, the shares hit 1p recently, no-one would have believed that would happen so suddenly but it did, trading volumes on some days hit several billion shares, all the dilution was forgotten as the low priced placings were washed away in the tide of volume.
The moral here is it only takes one project to deliver to get a multi-bag gain, the stigma around Andrew Bell continues just as it did with George Roach but now Roach is a hero - those shareholders who braved it out or bought the lows have been handsomely rewarded.
The driver at PREM was Lithium exactly the commodity Red Rock are about to bring into production - RRR are also applying for new prospective licences in the same country that PREM operate in, are PREM the entity that RRR have a NDA with ?
The there is the Congo cash RRR are pursuing ($10m), Elephant Oil, Kenya gold licences, New Ballarat IPO - any one could deliver a major SP move from current levels.
On AIM sentiment can turn in a flash as can news-flow !!
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