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"windup value more than covers the debt"... you say this now but if they keep selling of Jupiter to pay "admin" or there are other Steelmin style loans you don't know about it won't be long before this isn't true... plus you'd lose on you equity position if you forced admin... still nothing a few tweets and gold bar pictures won't fix
I'm guessing Helpful will extend his CLNs for another year because "he can't lose" when it's more a case of RRR can't pay him back without tanking the SP (by a massive discount equity release or selling more Jupiter) so he's actually forced to since because of what he'd lose on his equity position.... nice work RRR, you should sell of some more Jupiter share and give yourselves a bonus
Squeaky bum time for Helpful I think
If they continue to sell of Jupiter to pay "admin" then there's going to become a point where the value doesn't cover the loans they've got and for some reason I think Helpful is at the bottom of the pecking order
Dire doesn't even really begin to describe it, it's way past dire
* Selling off the only income generating asset to pay bills
* No cash, Massive debt
* As you can see from the past no news is bad news when it comes to RRR, and if you take out the Holding/Jupiter/Equity RNSs there's only 1 RNS regarding the other project and even then it's just some fluffy statements about continuing to make progress
* Bell already seems to be planning his next career as a politician
My guess is they're trying to dilute but no ones it interested
The problem with management confidence is that not only is there none, it's actually beyond that and into the negatives (something Bell points out in the RNS by stating the JMS shares are worth 14% more than the MCAP)
I don't think anyone is expecting any reaction if the license are re-instated because they know that Bell will use this as an opportunity to dilute, either massively (and how is that going to happen unless it's at a massive discount) or just enough to cover working capital (or pay themselves) and on top of that Peter Gyllenhammar could also use this as an opportunity to sell
The most likely outcome is a short-term spike of perhaps 20/30/40% then within a few days (or week) it'll return to where it was
No amount of gold price updates or pictures of gold with change this
31.8%... wow... stop the press, that's awesome, just needs around another 10% to get back to the price it was at Aug 23th (a few weeks ago)... but still impressive and calls for....
https://www.istockphoto.com/gb/vector/golden-coins-with-chart-going-up-gm475467858-65612131
And my thoughts on the Migori license... well, anything that results in more tweets with gold pictures and gold price updates can only be a good thing... exciting times
Ahhhhh, nice spot Helpful, yes we should be celebrating RGM price increase.
RRR have 1.69m shares in RGM, and although LSE said 40% up, the actual price shares have been selling at has gone up at (0.055 / 0.046 = 1.195 => lets say 20%) but still impressive, our RGM investment is now worth £929.50 (or around £150 more than before)
https://giphy.com/gifs/money-swimming-diving-n59dQcO9yaaaY
wow... market really reacting to the pictures of gold bars
How about this:
https://www.123rf.com/photo_423417_oil-well-gushing-oil.html
Arrrgghhh!!! Damn 2 sells in a row... Tanking now
Need more Twitter links and gold price updates
Perhaps some photos like the Instagram FX teenagers.... Bell drinking Champagne in First Class, holding wads of cash or standing next to a blinged out car (for example)
“What relevance does that have to the operations of Red Rock?“
Take a break Helpful, I’ve got this one
Relevance being: was it around a year ago that one of the El Limon royalties was around $13,000, well if RRR received the same today, the POG is up around 35% over the last year, so that $13000 would now be nearly $18000
So you don't think that a company called "Gold Elephant Limited" and previously named "Nama Greenland (Operations) Limited" with a nature of business of "Support activities for other mining and quarrying" has ever invoiced RRR for support work relating to the Elephant Oil or Greenland projects and then these expenses were classified as other admin?
Here are some of the Bell and Son companies here
https://beta.companieshouse.gov.uk/company/08484404
https://beta.companieshouse.gov.uk/search?q=Frederick+Augustus+Ronald+Peter+Mcmillan+Bell
It makes you wonder how much of the RRR/RGM Other and Admin expenses end up in these companies
So as you say £11m of £15m into admin and other between 2012 and 2017
https://beta.companieshouse.gov.uk/company/08484404
With a nature of : Support activities for other mining and quarrying
Having "Person with significant control" of AB and someone who I assume is is son
And if you search his son name on companies house you'll find even more "support" companies
https://beta.companieshouse.gov.uk/search?q=Frederick+Augustus+Ronald+Peter+Mcmillan+Bell
Really make you wonder how much of the £11m admin and other expenses have ended up in these companies????
"This sort of nonsense will be stopping shortly".... you say that, but you also said
"if we are lingering around this price come September and RRR has made the progress I think it will on the various assets, that I will personally arrange for it to be taken private"
when the price was 0.85 and you thought Steelmin was the next big thing and now we're sub 0.50 with no cash so forgive me if I think you're talking crap
Maybe instead of extending you CLNs you should try and become a director of one of those Support companies, my guess would be that's where the real money is
It's really looking like your idea of DYOR is just believing anything Bell tells you, you really need to wake up