Member Info for Helpful

Check out the grades in this... https://twitter.com/AndrewScottTV/status/1070638825846775808

And then look up what has been said about Musonoi. DYOR

Look, I don't know who you are and I don't care. On here and elsewhere AB gets abuse from people who were invested six, seven and eight years ago and lost money. That doesn't apply to me or to anyone else recently invested. I am invested on the back the current assets and what they are worth now, not what did or didn't happen five or six years ago.

I fully realise that AB, his reputation and the history of the company are issues but that is why the value is there. If this set of assets were owned by another company they would be valued more highly. That means there is an opportunity here. In life generally and in finance in particular there is a phenomenon called "reversion to the mean". It applies in most natural fields and it will at some point apply here.

If there was some superstar management team in charge with a fantastic reputation for delivering value and you all loved them to bits, I wouldn't be invested invested because the assets would be fully valued or even over-valued.

As to who you are etc, why would I share what I think with some randomer who probably isn't invested? If this company decided to wind up tomorrow and enter into an orderly disposal of assets, it would return a multiple of the current market capitalisation. The downside for the CLN holders really is de minimis and for the ordinary shareholders it is only very slightly more. If you can't see the above, I am not interested, same as with Tragic and the other ex-wives.

Bottom line: the new licenses in DRC with VUP are the real deal. In due course, it will be seen that this is true. RRR could sell those licences tomorrow for significant value. The really big issue with those licenses is the grade. One of the things a mining company would seek to do is to move up the valuation chain by trading its assets to improve the grade.

If AB and RRR can flex it, the thing to do would be to sell Steelmin and Migori and then invest the capital in the DRC license: it may or may not be possible.

DYOR

I can see lots of issues.

Just as well you never invested in the company when it was doing stupid things then isn't it?

Same recourse that you would have under contract law in respect of any transaction.

https://twitter.com/RRR_RedRock/status/1069896280632115201

Six licenses now in DRC. One (PR13513) they have been doing sampling on and we are due the results back any day and the Musonoi license which can go straight into production as soon as they organise themselves.

So RRR has three production licenses with VUP and three exploration licenses with other vendors.

Penny dropping now?

What ever you think of AB and RRR those licenses have value and in due course will be reflected in the share price.

DYOR

Looks like the penny is starting to drop.

Early birds etc starting to buy.

It is indeed, I noticed that.

I double-checked it and two months is definitely less than three months.

I spent an hour and half going through the accounts and RNSs, you should try it. The impairments were in the accounts and the value was written down: check it out.

Someone has asked me to have a look at what happened on Greenland.

It is pretty much as I thought. The purchaser got caught in the Cyprus banking issue and couldn't complete. The price of ore dropped and the transaction couldn't progress. The value of the asset was progressively impaired in the accounts and then written off. It may be that there is plenty of iron ore there but in the then market 1. the price was too low to make economic returns 2. RRR couldn't fund working on the asset 3 couldn't afford to hold the asset.

The only complaint I can see is that AB might be accused of not being explicit about it being written off but it was impaired in the accounts and when it was written off it would have been immaterial from a company point of view.

DYOR

I hold CLNs, shares, spreadbets and warrants. I don't comment on clients.

I arranged for the rollover of the existing CLNs and I rolled mine as part of that deal. If I thought that RRR was going nowhere I would let them redeem the CLNs.

https://www.linkedin.com/in/sarah-cope-76991025/

I would agree that I don't like the payment to EG but neither you or I have all the facts on that matter. As to the rest I am sure a man as intelligent as you can guess my response. xx

Until the conclusions of the SR and the board's forward plan is in the public domain PA and CW are both prevented from trading: it is the law. I have no doubt that they will both be buying when they can. The SR should clear up a lot of the rumours that have been put about in recent months.

My thoughts are: good first step. This NED seems a good appointment, background in oil and AIM, independent of PA, CW and EG et al. She will bring some oversight in: she will want to be part of the review process and unless she was happy with what was said she wouldn't have joined.

Next step soon.

DYOR

Deffo linked to the share price mate: it is called being a shareholder. You may have heard of it. Go on, explain to me why the DRC licenses are worth nothing. Explain there is no copper, no cobalt, no palladium, no platinum, no gold there. I will wait. Perhaps you can also explain why Glencore's KOV project is worth tens of millions, contiguous to RRR's Musonoi but RRR's license is worth nothing? Try looking stuff up. RRR has landed blue chip licenses in DRC.

Perhaps, I can guess the answer? You just don't like AB and therefore nothing good can be true, regardless of the facts,?

Funny! I can see why people think that but watch this space.

Newsletter is out and touches on some of the issues; IMHO it reads very well.

It was and it still is.

You need to put your commercial head on;

1. Steelmin cost RRR nothing: in fact it made a small profit on it due to currency movements
2. Steelmin has a value whether that be euro 4 mil or euro 20 mil or some other figure
3. It will be worth more if it is brought back into operation
4. The replacement build cost is anything between euro 50mil and euro 90mil
5. AB gave an interview a few weeks back about what the position was
6. He was willing to fund bringing it back into production subject to control and his terms
7. The market hasn't been updated on what the current position but I have no doubt that is a saleable asset at a decent price
8. Previously we had 22%, control means more than 50% in shares or via some other mechanism
9. Now that DRC/VUP is done Steelmin is a sideshow
10. I strongly suspect that the current position is one of the following two possibilities: a) sell it as is or b) bring it back into production and then sell it. It will be down to the standard cost benefit analysis
11. The capital released will be better employed in the DRC than in Steelmin and the same goes for Migori

The DRC/VUP assets are the real deal and where RRR should concentrate its efforts going forward.

The current market capitalisation is derisory and the sale of Steelmin will swamp the current market capital whether it is sold as a going concern or as closed plant.

DYOR