Member Info for HawaiifiveO

You Tube link to the recent interview, the numbers are impressive....

https://youtu.be/NOnrrqMgdg4

https://www.kitco.com/news/2022-12-20/IAMGOLD-to-sell-its-Boto-gold-project-and-surrounding-exploration-assets-for-282-million.html

If Bell wants to provide prospective numbers for the Lithium project he is able to via a Stockbox or Proactive interview, I recall many CEO's offering up numbers on a loose basis via social media outlets.

These media outlets are heavily qualified (for educational purposes only etc) so a great deal can be said that does not come under the auspices of a Nomad.

The problem is Bell is a woeful promoter, every commentary he makes has umpteen caveats, he waffles on like he is lecturing, you get history, you get politics, you get topography, you get just about everything except what folk want to hear - namely how much value will a project potentially deliver in clear and simple language.

I have yet to hear any interview from Bell that is concise, I suppose there is always a first time.

Welcome back, it needs someone with clout to get involved, at current levels it is relatively inexpensive to secure a decent position, I am sure many would support changes, in the right hands RRR has some reasonable projects which could deliver significant shareholder value.

I added some on Friday as IMO it is a bit of a no brainer, the stock has fallen 80% in just 10 months.

There was a Twitter post on RRR some months ago showing historic market caps and share price at year end over 18 years since RRR was listed.

At current levels --->

The share price has only been lower 1 time over 18 years - at year end
The market cap has only been lower 4 times in 18 years

I would suggest buying currently offers a good bet for some upside, as for shorting, would anyone really want to short RRR (assuming they could) at the current m/cap when there is a possibility of the Congo cash ($7.5m-$10m) sitting in the background.

DYOR etc.

I fear that Bell has outflanked Helpful and his chums who tried to find a way of stopping him doing what he does best -diluting equity holders infinitum - AB is laughing at you all !

My view is the shareholder group (they hold circa 23% of the equity - it used to be higher) told Bell he was to deliver value from Red Rocks existing assets/portfolio, I recall posts from Helpful and commentary from Bell himself along those lines around 12/18 months ago.

The mission was a clear one, deliver value, namely JV, IPO or sell projects at the same time manage the investment portfolio (POW/EO/Jupiter/Juno shares) Out of the blue the potential 'windfall' from the Congo came when a dirty deal was done by third parties, Bell was sent to the Congo, no doubt under the instructions of the shareholder group to try to collect the $15m cash RRR was owed - the first 6 week attempt failed and clearly the second 3 week visit also failed, no cash was forthcoming.

Only 2 months ago Bell said he did not want to dilute equity holders (the SP was 0.50p) because the valuation was too low. Bell was hoping for the listing of Elephant Oil or the Congo cash - neither happened.

The shareholder group had supported Bell with month by month equity raises and loan notes previously, the investment portfolio had long gone - their efforts came to nothing as Bell failed to deliver anything meaningful, but that is nothing new !

So we now have a situation where Bell has not only let down the minority holders but also the larger holders who on a equity basis are seriously and I mean seriously under water - I estimate the largest shareholder is down at circa £500k, he must be well happy.

Bell has now diluted the major holders, has destroyed value, delivered nothing in the last two years (or indeed over the last decade, the m/cap has not exceeded £10m since 2012) but has secured funding (on onerous terms) to keep his gravy train running for at least another 12 months.

The best thing that could ever happen here is removal of Bell and parachute a new management team in. If the 'major shareholders' had any backbone they would call a requisition and do the obvious.

As for Helpful, that EO windfall looks like it is not coming anytime soon - Happy Xmas !

With 2.5b share in issue WBI is valued at £43m and they have debt of circa £10m - the company seems overvalued, they made a loss of $533k in H1.

The concern is why is Miles Pelham selling out, he has been exceptionally supportive for many years, there were reports on A@VFN yesterday you could buy 30m shares below offer which suggests the overhang/selling is ongoing.

Miles Pelham had 205m shares left as of late November, until he is out there is no rush to buy IMO.

The market makers will want to shift this stock so do not be surprised if they drop it further, volumes are poor in the current range and they need to entice buyers, my bet is they will take it to 1.5p and see if they can shift volume to accommodate the sellers, if not it may go lower still.

If Pelham clears out completely the question is where has his 18% gone and what is the market value of Woodbois to attract investors - I would suggest a m/cap of £20m-£25m is far more realistic, that equates to circa 1p a share.

If anyone uses HSBC Invest Direct it is best to phone them to confirm if you wish to take up your entitlement and/or apply for excess shares.

They sent out documents last week by post but due to strikes many will not receive the instructions on time, the deadline appears to be 15th December.

I called them today as I had not received any letter or communication, the matter was dealt with quickly and efficiently, have applied for full entitlement and excess shares.

I think some of Bell's supporters believed they were going to make a killing out of the Elephant Oil float by now and generously have been supporting him (and Red Rock) over the last 9 months - it looks like that supposed nest egg may be hitting the rocks.

I made a prediction some months ago that nothing material from would come from RRR by year end, that looks nailed on right now.

Bell was recently ridiculed on Twitter by Tom Winnifrith who made it plain that certain claims and promises made over the last two years have come to nothing and Bell needs to sell an asset ASAP - we all know what is coming next, it starts with a big P - we are pleased to announce the company has raised £££.

It's all water off a ducks back to Bell, in fact I think he thrives on the negativity about himself.

For reference the interview was only posted on social media today, I was very surprised by Mark Child mentioning numbers of $100m to $200m - he also (like Jim Mellon did) strongly urged existing shareholders to take up their entitlement in the Open Offer, he went on to add that the offer was heavily discounted implying IMO it is a no brainer decision.

The share price should start to recover.

I think this interview was exceptionally revealing and Child seemed very upbeat - he clearly seems to think the project will be sold.

MC suggests there are interested parties.

https://www.youtube.com/watch?v=yW83034oc7s&ab_channel=SwissResourceCapitalAG

The sentiment situation is hardly helped by 'book5' pumping out stories about a few disgruntled landowners on A@VFN daily - this poster has really become very vocal since Condor put themselves up for sale - one wonders why ?

I find Jim Mellons position in this episode somewhat bizarre, firstly what a time to put the 'for sale' up on Condor, right at the bottom of the market in woeful conditions, mining stocks are on the floor, anyone recall a few years ago when he was promoting Condor at Master Investor when the share price was north of 45p, whoever would have thought he would then back a sale when the share price was trading in the low 20p's.

Condor has burnt copious amounts of cash in Nicaragua, north of £90m by my calculations, the spend on keeping the locals sweet is staggering alone, even now there appears to be some issues removing a minority of landowners, maybe he had enough of the burn rate - the last cash raise (£3.25m) was only in mid June.

It seems quite incredible that Mellon will not take Condor stock at par value (20p), he wants conversion at a miserable 15p, if he was so confident of selling Condor above 40p then why is he allowing the nonsense of a capital reorganisation, by not taking stock at 20p sends out a negative signal in my view.

I have some knowledge about Hannam & Partners, they were advisors to a company where a CEO was ousted by shareholder requisition, I personally was not impressed with them one iota, we will see if they deliver in due course.

I feel genuinely sorry for holders here, many have been supportive for years, it looks like some may be about to get royally shafted if they average 40p+ I posted some commentary about Shanta, albeit this is different scenario - it was clear the 3 bids were no-where near where the BOD wanted to be so they were rejected. Is this a bad omen?

Given market conditions I do wonder if offers will occur at all, if they do vis a vis Shanta they could be low, possibly IRO 30p -35p (appreciate I have revisited my own earlier forecast) if no offers come the share price will crash, what will Mellon do then ?

All IMO etc - no advice intended.

The JORC Mineral Resource Estimate upgrade is imminent, the competent person was onsite according to the CEO during the recent podcast, it is relevant because he believes it is the 1st JORC resource in country, it will bring attention to Oriole from mid-caps or even majors.

I am in no doubt ORR wants a JV partner and it will be on their terms, hopefully with a significant up front cash payment will come with it to cover historic and ongoing costs.

The shares could start to attract more attention over the next few sessions IMO.

This is the forth downward writing of the EO prospectus, it looks to me as they are really struggling to get this away, not once has Helpful mentioned this aspect. As per an earlier post every time the monetary value of the raise has been lowered - from $20m to the current (and final attempt) of $8.5m.

It is stated in the document that EO has material liabilities ahead of listing, one wonders if this what has scared off investors.

It is last chance saloon for EO, if it cannot raise the $8.5m at the final attempt it is curtains for the lPO.

Whilst this farce is not directly associated to Bell it is typical of the situation at Red Rock, hot air and wind, Bell has been tweeting about the Glencore settlement with the DRC, all well and good but this will not bring money into Red Rock, the only money coming into Red Rock will be the upcoming fund raise, something Bell is very very good at.

I note, with clarity, Helpful refuses to discuss this topic in any shape or form.

RMM have announced another forward sale of copper - the 2 combined amount to circa $11m in revenue

https://www.investegate.co.uk/rambler-metals---min/rns/forward-sale-on-copper-production/202212051549146439I/

I have been looking at the situation at Shanta which RNS'ed they had received 3 approaches in respect of takeover, on the announcement the share price rose around 25% - their market cap was £125m as a result - they have debt of circa £20m

They are currently producing gold and target 68k oz to 76k oz this year, they expect to be producing from another mine next year - a further 100k oz of gold.

The CEO said he believes the company is worth £500m - they terminated talks because they suggest the approaches did not deliver the appropriate shareholder value, in a nutshell the bids were too low.

Here is the presentation with all the facts in it -

https://www.youtube.com/watch?v=bVmyxDdJ4pQ&ab_channel=InvestorMeetCompany

They feel they are worth £500m, so you can probably work out the bids were based on their market cap at the time (£100m + £20m debt) plus a premium - my view is that premium was probably a worthy one but not enough for the BOD to accept it.

So what was the premium, my bet is a cash offer was tabled IRO £175m to £200m - it is clear there is appetite for gold producers or companies with early production (Condor)

I feel that this is a good example of what might happen to Condor, the numbers stack up to an exit price of 45p to 60p, given market conditions I feel the lower number most likely, will Mellon accept, you bet he will.

Something to ponder over the weekend.

specinvestor99

Your claims on salaries are as wide of the mark as AB's delivery of shareholder value - maybe a new CEO would cost a fraction more but if that person delivers value then it would be worth every penny.

A simple search on Google

A person working as a Train Driver in United States typically earns around 33,100 USD per year. Salaries range from 17,200 USD (lowest) to 50,700 USD (highest). This is the average yearly salary including housing, transport, and other benefits.

Garbage collector salary The average salary for a garbage collector in the United States is around $38,500 per year. Avg Salary Show avg hourly wage $24.9k Bottom 20% $38.5k Median $62.3k Top 20% Garbage collectors earn an average yearly salary of $38,500

The truth hurts Helpful - everyone on the BB has seen through your agenda - now why not discuss the upcoming funding?

Is Bell going to place the whole 250m shares he is requesting permission for (he has obviously been given the nod by the 'major shareholder group' so voting is a waste of time) or is he going to continue on a month-by-month basis in the hope some liquidity event may occur.

The situation at Red Rock is now so poor that even Bell's best chum Tom W has given up with the promote, it was over 2 years ago that Bell entered TW's Mineprophets forum promising riches from various projects - did anything come out of those claims - of course not !

Red Rock has only achieved a market valuation >£10m three times in 18 years, the remaining 15 years the market value has been majorly sub £5m - what a truly atrocious record.

Readers have to question why the gaggle of 'major shareholders' are so happy with the situation when every man and his dog knows the issue is Bell himself - the 'Bell discount' is widely discussed during investor events in the city. He speaks French they suggest !

Worried your expected bonanza riches from Elephant Oil may not occur Helpful, is that why you are irritable - maybe the US investors have decided the stock is too risky for them. Still no news.

As for Bell his skin is as thick as a Rhino, he has heard it all before, he blames his shareholders for buying at the wrong time, he ridicules them, he knows his position is secured so long as he keeps certain entities sweet, he is bullet proof, therein lies the problem when you buy Red Rock shares.

My position here is tiny, I call it as I see it, 2022 has been a total waste of space for RRR investors, 2023 will probably be the same.

I forgot to mention there is an interview on the Empress website, they were asked about Manica and re-iterated they expect a production ramp up towards year end, they are very confident about the revenue stream, to get an idea of value they have invested $3m to secure a 3.3% royalty.

I recall in historic interviews that Xtract would receive revenues of $500,000 a month from Manica (with no costs) once it hit commercial production - would bring in annual free cash of circa £5m verses the current m/cap of £17m

Makes XTR equity looks silly cheap in my considered opinion.