Member Info for HawaiifiveO

I am sure folk must have noticed the level of bashing that is occurring on A@VFN in respect of Condor, this intense level of negativity started soon after Condor announced they were putting the project up for sale.

Some may suggest that there has always been bashing of Condor, as a avid reader of the CNR bulletin boards I have to say that I found the negative angle to be limited - not project related but more Mark Child focussed. It is clear to me there is an obvious motive for the negativity, one would suggest it may even be orchestrated by parties that may want to make an offer.

The poster 'book5' seems to be the main cheer leader for the negativity, the fellow claims he is a local, he claims MC would know him, he claims to be close to the artisanal onsite miners, has often implied he has contacts who know what is going on inside Condor.

The aforementioned fellow, who used to be relatively neutral on the site, has demeaned himself to such an extent that he now suggests Condor will fail to sell the project above 15p a share, the level of bashing has increased over the last week or two, he posts daily.

The purpose of this post is to try and establish that entities appear to be undermining the company at a crucial time, clearly the value bashing is designed to halt share price appreciation, this would enable a prospective acquirer to bid lower than, say for example, if the share price was accelerating through 20p and onto 30p for example.

Remember bashers never bash a poor company, the bashing should be considered positive IMO.

XTR featured

https://twitter.com/RoastPR/status/1611328769913921538?s=20&t=q9N9NmyN60XBoDBYJrjAZA

Frankly I am surprised the Condor share price has not rallied more since funding was secured, the revelation that there were circa 7 interested parties and the range talked about my MC being $100m to $200m - the current m/cap is only £32m.

Still think the SP will end the week through 20p and continue to gain momentum further into January.

Very little stock around sub .30p currently, IG want a premium for anything over £5k of shares, a few smaller trades would probably move the price up as well.

As mentioned in my earlier posts buys around current levels have proved to be profitable, in some cases very profitable.

I think the market is starting to reflect the complete lack of buyout premium in the stock and the share price is rising accordingly, the consensus seems to suggest a takeout valuation range of 35p to 60p - the shares can be bought for 17p currently.

The risk/reward here surely favours the bulls at current levels.

With funding now completed, the gold price strong and the future bullish, one would expect Condor shares to start to re-rate anticipating some form of buyout premium, at the moment there is none.

Over the week the stock could head towards the 20p's, any hint of an offer or positive news from the company the share price could move ahead further still.

Not a time to be out IMO.

If Bell and the 'major shareholders' really thought there was a realistic chance of getting any cash out of the Congo there would have been no need for the recent death spiral funding package, woe-betide us all if Bell is allowed to draw down more funds from the penal lenders.

The story now moves on to Zimbabwe revenue, everything involved with Bell & Co is a story, a fantasy, until the 'major shareholders' have the guts to do the right thing nothing will change, never ever at Red Rock, EXCEPT trading spikes. Frankly I do not think they have the ability or knowhow to replace management, it is quite an involved process.

Bell is totally incapable in delivering a bean of sustainable value to the shareholders, the question remains, why do these 'major shareholders' continually support him? What is in it for them.

As posted before I estimate that largest shareholder in the group (holding 17% - reducing quarterly via dilution) has probably lost £400k/£500k in value, how on earth can this fellow be happy with that ?

Helpful seems to be the BB 'spokesperson' of the entities, here to try and sucker in new folk to maintain some form of value, for goodness sake, even Tom W one of Bell's best chums, has thrown in the towel - has been commentating on Bells obvious failure to deliver for more than 18 months on his Sh@reprophets blog.

As I say RRR is nothing more than a trading play, time your entry correctly and you can make a turn.

Helpful you plum, Bell has not received the $7.5m-$10m cash out of the Congo - the market is suggesting it never expects him to, if he was so self confident then why proceed with a death spiral funding package that you and your chums allowed him to proceed with.

As for EO well I have suggested for some time that EO will never ever get their listing in the US, so far I have been proved correct.

The new plan is to generate Lithium revenue in Zimbabwe, so be it, however with Bell in charge what could possibly go wrong.

Bell and the entire BOD are no more than vultures of shareholder funds, story tellers - in the last TEN YEARS the market cap of Red Rock has never exceeded £10m, that in itself tells you all you need to know.

The major shareholder group are party to this failure, the support they offer Bell & Co is, quite frankly, incredible, what is in it for them?

Like investor 'Longterm' I have bought a decent slice sub .30p only because history suggests it is at a 8 year low average entry point, it is purely a trading position - perhaps 'Longterm' will do as he initially implied and make the revelations he suggested he would in his recent maiden post, will be an interesting read.

Let us see what Q1 brings.

It is interesting that Bell commented about prudent information release to investors for fear of upsetting certain foes but now has delivered a very open statement, does this mean he is more confident of an imminent conclusion and receipt of up-to $10m ?

Whilst caution is always the watch word when Bell is concerned it seems strange he would reveal all now and it does make you wonder if the end game approaches.

It also appears he is about pursue the Major Mining Company for compensation, Big G have recently been fined significant sums for misconduct in Africa - Bell has a strong case and needs to strike whilst the iron is hot, it would involve sums of money that Red Rock shareholders could only dream about, the legals on a Pro Bono basis (no cost to RRR)

Maybe just maybe the upside wheel is about to turn.

Zak confirms the very oversold nature of the stock and offers a near term target price of 2.5p - podcast today.

https://tinyurl.com/4ak8938y

Line of thought on the other bulletin board suggests a relatively low sale price and therefore a quick sale - we will see, with all the warrants Mellon has it would suggest his average price is potentially below 40p now.

I think a quick sale would suit everyone.

Many traders use the RSI as a signal to buy or sell, it is worth noting the RSI for XTR is currently at a 4 year low, the stock is materially oversold therefore.

The bottom seems to be in IMO.

Historically the current RRR share price offers material gains for buyers, it has only been lower one time at year end in 18 years - the current market cap has only been lower 4 times in 18 years.

So many of these micro cap juniors have turned out as simple trading plays, get your timing right is the key, I have been buying a number of juniors recently, scaling in, many have fallen 80% or more over the last 18 months, during the severe downturn back in 2008 most found a m/cap floor of around £2m/£3m - we are at that point now.

It is possible, even in current markets to get a 100% trading gain, ORR recently moved from .12p to .24p from no-where, it could happen here.

Hoping for sector recovery next year.

Seasons Greetings to all.

My Open Offer shares have been allocated to my account and funds taken, I also applied for Excess Shares but have not received any - neither has funds for them been taken from my account. It looks like I will not receive any which is surprising, as I read it the whole offer closed on 23rd December.

I noticed another post where no Excess Shares had been allocated to the poster, my understanding is the distribution of the shares was at the discretion of the company or broker - so one wonders what exactly is going on, has anyone been awarded any Excess Shares by now ?

I gave very concise instructions to my broker so there could be no mistake BTW - any thoughts on the matter ?

Was hoping to hear more from Longterm following his high profile arrival back into Red Rock and his share purchases on Monday - maybe he is travelling.

I sincerely hope he builds a position here and brings about changes/transparency he implied, the largest shareholder in Red Rock must be down £400k-£500k on his equity purchases, I simply do not understand how this fellow can be happy, let alone continue to support management, of course the shareholder group may not have the ability or resources to replace the current BOD, that seems a more likely situation IMO.

Whilst it is true the sector has been decimated and one would be foolish to single out Red Rock on a 12 month basis you have to look at the wider picture here. It is a fact, over TEN YEARS the market cap has never exceeded £10m and most of the time has been sub £5m.

Over the period of the aforementioned 10 years Bell & Co have raised north of £10m and taken £2m+ in salary, the returns to shareholders have been negligible, many and I mean many targets/statements/claims by AB have been missed or never happened.

Hopefully in the New Year we may hear more from 'Longterm' the fellow seemingly has the resources and contacts to bring about change if he so desires, assuming it is the TR1 holder who announced on 25th March 2020 - he has made some interesting statements concerning RRR in the past to say the least.

I have a feeling there has been a falling out between JM/MC - listening again to the last Crux interview there was very little to suggest a sale of the company was number one on the list, within weeks it happened, also if anyone remembers another Crux interview was cancelled without any explanation, they seemed surprised. This suggests the decision to sell was a snap one.

Reading between the lines my view is Mellon had enough of Childs seeming never ending lust for cash (the last placing £3.25m) was back in mid June, the sanctions issue may also have had a bearing, he wants payback. I note a number of other big hitting businessmen have been hit badly by the fall in equity valuations and are selling down stakes/assets Miles Pelham at WBI for example.

If as the attendee of the GM suggests Mellon is prepared to accept as little as $100m, then it makes a sale most likely and the shares seem bargain basement, would give an exit price of circa 40p-46p a share dependant on options/warrant exercises.

I personally believe a buyer will drive a hard bargain but Mellon clearly wants out and that is a major plus point for buyers around current levels.

Mellon did not buy he loaned the company £1m and converted the loan into stock, completely different to buying in the Open Offer and allowed under the rules.

For copper assets in British Columbia & Yukon

https://www.streetwisereports.com/article/2022/12/20/copper-junior-closes-on-deal-to-buy-competitor.html

It is interesting that Jim Mellon is now commenting in the RNS's instead of Mark Child, I have a feeling that Mellon was fed up funding Child's expenditure excesses without seeing any reward in shareholder value, for example they spent £250,000 on water facilities for locals - the have been many other expenses that have assisted the locals, over the years they could have amounted to £1m or even £2m, we will never know exactly.

It is very interesting that the other Condor bulletin board has been infested by bashers, there is hardly a single post that could be deemed positive, the site allows multi alias accounts to be opened, it is a known fact that some potential acquirers try to destroy value by any means possible before making an offer.

Mellon & Co have tried to suggest shareholders should ignore the current market price of the shares and focus on the NPV and other financials - in other words take no notice of the negativity and focus on the end game value.

Buy low sell high!

https://www.investegate.co.uk/condor-gold-plc--cnr-/rns/fundraise-of--3.3m--results-of-open-offer--placing/202212211444205166K/