Andrew McMillan Bell, Chairman of Red Rock Resources27 Feb 2024 22:04
In all my time ie experience of stocks and forums, I have yet to see anything resembling this RRR forum. If RRR issues an RNS, there is a counter- RNS from residents here. If Mr Bell tweets from the Red Rock Resources Twitter about its projects eg Red Rock Resources of Australia, that too is "dismissed" [British under-statement].
This time round, I will try to be brief, but my conclusion is that RRR , like so many junior explorers are in a difficult mining cycle [proven by the mining downturn of commodity prices , thus affecting co's]. In terms of "seizure" of a mine, FQ has just lost Cobre Panama, its most profitable copper mine and they are envisaging going to the INTERNATIONAL TRIBUNAL for Arbitration to claim $20 BILLION. FQ , a $32 bn mkt cap has been affected by Cobre Panama, so much so that upon the release of FQ's financials two days ago approx, Jiangxi extended $500m immediately and presumably they are a copper customer. That helped FQ and within 24 hrs, more lines of credit had to be raised by way of liens etc from recall, not in thousands, millions but billions $. This has been shocking to me and further majors share prices may fall drastically due to the downturn of iron ore -all just came out. Why shocking? Because it came suddenly and for those whose pension funds are in mining stocks, it is naturally a shock. Middlekoop said that the downturn has happened before but in the next 14 yrs, mining stocks rose strongly.
To this end, if the DRC cannot be "concluded " , then with the earlier award, I think that if it can be managed, then international arbitration is the only way to RECOVER the major asset of RRR. In this regard, the historical precedent/s are rather well established. I ask for shareholders who would like to see some light at the end of this tunnel and I am sure that those who have continued, should welcome a surprise ie a Magic Circle law firm undertake this case and there are funders in the City who are keen to fund ?
Just an appeal from those who try to keep a positive outlook, be it in life or in stocks.
Thank you, Mr Chairman. News, 27 Feb 2024. I ask for all those who dare not post due to the in-crowd residents.?
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