Member Info for news

P.S. there is NO WHITE ELEPHANT OIL IPO, USA.
It is ELEPHANT OIL Corp, potential IPO on Nasdaq, USA.

The other point is that DIRECTORS on the main board have to be listed with their
corresponding short c.v to Nasdaq etc - IF IT IS TRUE THAT ANY OF THE MAIN DIRECTORS, CEO, CHAIRMAN has had a WHATEVER RECORDED as a fine etc, then OBVIOUSLY
they cannot be ON THE BOARD as norm?

Thur, 26 May 2022.

16:38, Thur, 26 may 2022
-I am NOT a holder of Elephant Oil.

"Elephant Oil Corp files for IPO Registration Statement."-Investing.com, 28 Mar 2022.
[Investing .com is an American site and given Elephant Oil Cor is going to do a IPO in the USA, it is being reported in the USA as well. The USA IPO would have to be filed with Nasdaq].

BLOG
I went online and did a search on Elephant Oil and nothing turned up about anyone.
I then went to Twitter and again, NOTHING turned up.
Now, if this blog has been published, it will turn up on the search engine or in the Twitter search engine. If, it is no longer there, then it may have been deleted by the blogger himself/herself.

RRR & Elephant Oil
Red Rock Resources [RRR] holds shares in Elephant Oil as an INVESTEE given RRR is a investment co like say, for example Gunsynd who also owns un-listed stock waiting to IPO etc.

STOCK FORUMS
Each one can post their bit on any co and no one is STOPPING them so there is
TRANSPARENCY.
However, like in Australia, before one can press post, there is a page that one has to agree to.
This will be NOT to post on ....as known.
If it is posted, then I think, its x strikes and out.
Why? One lady posted about a co, directors etc. She was taken to Court which is fair for
her to air all her views etc wherein a Judge will hear all about these so-called x and y.
Unfortunately, for this poor lady, she may not have been aware that in Australia there is rule of law and no kangaroo court and therefore there must be some SUBSTANTIATION to provide as it can hurt businesses, shareholders. In the end, she had to pay $50,000 and ruined. Now, the Australian site will NOT take responsibility legally and warns NOT to post such like posts. The RIGHT PLACE is , in the UK. THE FINANCIAL CONDUCT AUTHORITY
wherein their DOOR is OPEN.

One can CHECK online WHETHER A DIRECTOR, CO WHETHER ON AIM ETC HAS BEEN
FINED etc for non-compliance etc . This is public info. I see NOTHING on Elephant Oil etc.

However, please check.

No, I have never seen any blog. Most of these blogs - they have disappeared etc.

Thur, 26 May 2022.
Bots dont exist on the London South East as I have emailed and spoken to London South East before as a REAL PERSON. Just for clarification and general DISCUSSION ONLY.

In specific answer to @14:55, Wed, 25 may 2022:
In reference to :" .. M i s r e p r e s e n t a t i o n s in the mining sector, resource statement...",
-the appropriate authority is : Financial Conduct Authority - their door is open.

No one can provide any warranty in general or in species.
This covers the topic in full.

Wed, 25 May 2022. @6:05pm [Stock market closed at 4.30pm]

Red Rock Resources [RRR]
is listed under ===AIM===which carries a HIGHER RISK than FT100 so everyone knows.
-RRR operates as a investment co with Joint Ventures [JV] like Congo DRC Musonoi [50.1%] etc and this includes also some mark-to-market shares in Juno [Australian listed] &
Power Metal Resources [AIM, London] plus potential IPO's to come [JV, investee].

RRR ANNUAL REPORT AND INTERIM RESULTS
The latest Interim Results was on 29 Apr 2022.
One should always read the ENTIRETY of the said results contained in Annual Reports & Interims which carries all the caveats etc including risk/s.

NOMAD
One can ask the co's [RRR] Nomad if there are pertinent question/s if appropriate.
I use the word appropriate as in , they cannot answer any forward guidance etcas norm.

CASH POSITION
That is also clearly stated in annual reports and interim results , the latest being on 29 Apr 2022. Free to read or visit the RRR webite.

AGM
Free to attend if one has shares in the co otherwise no entry without the required as norm.
Free to ask Q uestions if there is Q & A .

RISK-ALL STOCKS
As usual: Shares can go Up and Down.
Do not" invest"[ ie put money into any stock] more than one can afford to lose.
Consult a financial advisor as often mentioned.

DO DUE DILIGENCE -All Stocks.

DYOR -All Stocks.

So, at this time, I am not aware of anything else?

Just adding in case people dont understand? From my own view, even for FT100 co's,
FTSE co's , there are NO GUARANTEES, let alone for AIM co's.

Any examples? Yes, in the financial crisis of 2008, Lloyds Bank fell to just a little over 10p?

Wed, 25 May 2022 @5:40pm [Stock Market closed at 4.30pm]

specinvestor99
Thank you for your post of 14:54, Wed 25 May 2022 which enlightens on the Congo Musonoi [50.1% to RRR] copper cobalt asset [also mentioned in RRR's Interim Results of 29.4.22 + 2 Interviews by A. Bell, Chairman, RRR via Proactive and Stockbox Media, post these results.
Recommend.

--RRR ASSETS - BALANCE SHEET, RRR INTERIM RNS, 29.4.22
Anyone that is a shareholder of RRR can attend the next AGM [Q & A inc] can ask Mr Bell
if the said exploration assets of £13m in the Balance Sheet, Interim Results RNS of 29.4.22
has been INDEPENDENTLY VALUED BY A RECOGNISED INVESTMENT BANK.

Or if they are interested, they can ring Mr Bell to ask as that is called DUE DILIGENCE [Dyor] OR rings the NOMAD to ask.

That is the best way and one can make sure [or as sure as possible].

As for me, I think, this topic is now fully covered.

"Zulu drilling continues at pace. Drilling at Zulu Lithium 2 4 / 7."
https://twittercom/Premafrimin Wed, 25 May 2022.

------------------Nice rise in sp of PREM too.-----------------32.33p

P.S.
I would also like to add this as an example:
RRR share price 0.35p to sell and 0.4p to buy[advertised, not live]. MKT CAP : £4.5 -5m depending on the spread etc.

CONGO ASSET [MUSONOI COPPER AND COBALT]:

There have also been TWO Court cases won by RRR in Congo, hence why the $5m can be now enforced legally next.

Also, the RRR lawyers etc - it was part of a package from the interview/s [2] recent post RRR Interim results of 29.4.22 on Proactive /Stockbox Media that this said ASSET WAS FLIPPED TO AN INTERNATIONAL CO for some US$250m.

This is also subject to LITIGATION OUTSIDE CONGO per Mr Bell in the said interview/s as said.

So, NOT CORRECT that ASSETS cannot be valued given that on the open market, the value
could be more as there would have to be a VALUATION REPORT. AT INTERNATIONAL ARBITRATION A VALUATION REPORT would have to be PRODUCED IN COURT. So, at any given moment in time, a VALUATION REPORT CAN BE COMMISSIONED at an investment bank
specialising in resource/s.

----------QUESTION: BASED ON THAT ALONE, HOW CAN IT BE GUESSED THAT
THE RRR INTERIM RESULTS OF 29.4.22 WITH EXPLORATION ASSETS LISTED AT SOME £13M [kindly check as this is from recall] HAVE QUESTIONS ASKED [not by me by the way] ???

The Congo Musonoi HAS BEEN SOLD OR RATHER FROM MR BELL FLIPPED FOR US$250M.
In the latest interview, he quotes US$150-$250m which is presumably the range needed.
I believe Valmin code gives a range if there is a new valuation but Mr Bell did not elaborate but I am sure he will do so next time ie between flipped price [A.Bell] and the said valuation.

So, one always counter-checks as much as possible to see if there is some valuation out
and in this case, there is THE CONGO Musoni asset sold. RRR IS SEEKING US$15M [50.1%] from Gercamines, the state co and they want to know who to pay to given they need documentation. RRR stated in one of their statements that they have supplied this.
So, how did the US$15m come about if there was no REAL VALUE/valuation done and $$$ collected or paid out by the BUYER?

DYOR.

darientaylor
@22:17,Tues, 24 May 2022.

You stated you qualified as a Chartered Accountant in 1986. However, you said you qualified in 1986 to be accurate. From one of the interview, Andrew Bell, Chairman, RRR said that the Congo assets have been written down to some £590k so obviously IMPAIRMENT has been taken into account of the Balance Sheet assets in RRR accounts.

I stated that the AUDITORS have SIGNED off the accounts and if you are an accountant [qualified] but you did not elaborate whether Chartered etc. There would have to be an
ASSET LISTING of the various assets. Paul Johnson and other CEO's like Kiran Mozaria of KDNC go to an investment bank to VALUE their projects like AMAPA last owned by Anglo American.

So, NOT CORRECT as it appears that ANY ASSET CANNOT BE VALUED . AMC has just had a US$105m offer for Kun Marie and they have had a valuation done between higher and lower figuress to take account of the Russian situ and assets in Russia given that a discount must be applied.

So, NO DOUBT all the assets could have a VALUATION report attached to it by an investment bank that specialises in natural resource co like Hannan, a Tier 1 investment bank for resource co with the Chairman from JP Morgan previously.

How do ACQUISITIONS and TAKEOVERS HAPPEN IF ASSETS CHANGE QUICKLY as you say?
This is in the mining sector for example Anglo American has just JV with ARCM for some $83m and that also requires a valuation.

How did GANGFENG take over Sonora [BCN] if they cannot value an asset that is not producing but only with a DFS?

If you think that there is mis-rep in the industry, yes, that can happen and if you believe in this case, then you can go to the AUDITORS of any co to tell them and BURDEN OF PROOF or some evidence must be furnished as to why. No doubt you can go to the Stock Exchange specialist dept to also put in a report and they will also investigate if you have some basis for this given esp you are or you say you are a qualified accountant.

So, IF YOU DO NOT GO TO THE AUDITOR, STOCK EXCHANGE , then it appears to be
what I am not sure?

Just as today, you posted about Victoria licence and that the RRR tweet was ...advice but it was FROM A CONSULTANT GEO AND THE TWEET BY RRR WAS QUALIFIED by we'll see.
As an acountant , you will KNOW ABOUT LISTING DOCUMENTS AND ALSO THE NEED FOR A VALUATION REPORT to the Oz Stock Exchange.

I hope this clarifies.

With due respect. Tues, 24.5.22 Just asking.

----------ARE THERE ANY CHARTERED ACCOUNTANTS ON THIS FORUM?----
By Chartered Accountants, I am referring to those qualified [fully] and can sign off
company's accounts for listed co's etc.

Ref: There was a post on this forum today, Tues, 24 May 2022 REFERRING TO RRR'S
BALANCE SHEET AND ASSETS.

Maybe, laymen are not nuanced that these have to be SIGNED OFF after auditing by
an accountancy firm and filed.
Also, ASSET LISTING is done and checked by the auditor as part of the auditing process by the accountancy firm.

Maybe, if someone is a Chartered Accountant they can quote the para , sub-section
of the regulations etc and the penalties thereof as norm.

It appears that 1 poster thinks that the Balance Sheet of any co are a "FABTASY" [post at 7:21am, Tues, 24 may 2022] and is NOT nuanced in accounting, auditing, asset listing, revaluation, impairment etc and that the RESULTS RNS [Interim /Annual Report] carries
needs a short statement by the AUDITOR eg going concern etc and SIGNED by the auditor for submission to the London Stock Exchange as Regulatory News.

StockboxMedia 24.5.22 tweet:
"RRR-Key licence granted at Victoria Gold JV. This announcement makes a big difference to the RRR listing where it is now ful steam ahead."

A few more points to add from the Andrew Bell, Chairman, RRR interview today with Stockbox Media after the said RNS on the new licence, Victoria, Australia JV:

[1] Mr Bell said that the awaited licence came in on FRIDAY, so Mon to prepare the RNS, Nomad & legals to view etc.

[2] The Consultant Geo NOT only did a report and his remarks as above but took the report to Perth Geologists as well. Mr Bell also showed a co ie 3D models. So, consultations all round.

[3] Mr Bell also mentioned that one needs "GOOD PROPOSITIONS" to go ahead by which he meant IPO.

My Comment:
As I said, an IPO on the Australian Stock Exchange has to go thru many loops
and one of them would have to be at least a Geo Report but in this case the said Consultant Geo did a Ajax mine report and his remarks as above ie title of tweet above and had
peer review. No doubt there would have to be a fair valuation as well given ALL NEW IPO's in Australia have to have a MINIMUM A$20m mkt cap. One cant just list without PROPER LISTING DOCUMENTS AND SUPPORTING TECHNICAL REPORTS/VALUATION ETC.

So, the comments earlier today may not have been cognisant of the stringent Australian Stock Exchange rules but may be just a layman's idea that AN IPO is just based on views?
I dont know but I did know it is not like that for ANY LISTING, even on AIM etc in London.
DYOR.

Link: https://twitter.com/PilbaraWandy/status/1529039885092667392 24.5.22

No wonder why Acker's article stated Houyou is investing $300m into the Acadia mine in Zimbabwe. Look at the auction price for lithium.

-------------------NEW ANDREW BELL, CHAIRMAN, RRR INTERVIEW TODAY 24.5.22-----
Link: https://twitter.com/StockboxMedia/status/1529100475630505985
Stockbox Media tweet just appeared on my Twitter so I have just listened to it.
What I could make out:

"Andrew Bell: During Covid, a Geologist did a report on Ajax mine : BEST CHANCE OF FINDING
FOSTERVILLE. He took it to Perth geos - looks good. The Geo told Andrew Bell: Just apply for the licence.

A co [couldnt hear the name] looked at the 3D and they love it. Ajax produced 300,000 ozs of gold at 14 g/t. WAITING FOR THIS LICENCE - Waiting for this to have a good proposition to go ahead [think Mr Bell mentioned one needs a good proposition to go ahead for IPO]. Complex Geology. If no delays, 2-3 months." [Ref: RRR RNS, 24 May 2022 on getting 3 licences inc Ajax mine area]

My Comment:
One poster on this forum mentioned about the title tweet from RRR. So, now it transpires that it was INDEED from a Geo and there is a report on it.

Ref: Post at 12:10 with link from POW of the new licence AJAX mine [RRR/POW JV], Victoria ,Australia.

Click to see the link from POW re: map.[Today's RNS from RRR/POW on new licence granted].

FOSTERVILLE - KIRKLAND LAKE.
Marked in light blue on the map.

FOSTERVILLE SOUTH - Newish IPO in Australia.
On the map, almost adjoining Fosterville, JUST SOUTH of Fosterville marked in GOLD.
Latest: " Fosterville South jumps on gold drill results."-Kitco News, 29 Apr 2022.

RED ROCK RESOURCES/POW JV, VICTORIA, AUSTRALIA [IPO]
The new licence area [Ajax mine] is to the LEFT of FOSTERVILLE SOUTH' s licence.

Comment:
I have only just seen the Fosterville South licence area, SOUTH of Fosterville.
So, no wonder why there may be interest in Australia over this area especially given it is
near Fosterville mine.

Tues, 24 May 2022.

To put £48,000 in context - £60,000 or a bit less can BUY A HOUSE OUTRIGHT in
Greater Manchester, UK.

Ref: Sun 23:06, 22 May 2022.

THE BIG TRADES OF FRI, 20 MAY 2022:
Just a little ------------OVER 10M shares bought of RRR-------------.
Click this thread to see and check.
10 million sold.
===
BIG TRADE JUST TURNED UP TODAY, TUES, 24 MAY 2022
Its just been posted -"Delayed publication" - 15:45, Tues, 24 May 2022
===2.024 Million RRR shares at 0.385p =£7,796.==

My Comment:
In total , there are only 7 trades today and the advertised price is 0.35p to sell and 0.4p to buy +1.33%.

Now, that the market has closed AFTER 4.30pm today, I can give LIVE QUOTES because it is now HISTORICAL @5:50pm. RRR share price :
LIVEPRICE TO BUY 0.385p
LIVE PRICE TO SELL: 0.36.55P
One can also check the other prices of the small trades to see the prices as above this page for free.

-------------SO, LOOKS LIKE SOMEONE IS BUYING 10M and a little over SHARES of RRR [see this thread] on Fri, 20 May 2022 and today, another 2.024m @£7,796.
The said 10m bought would have come to £39,000 approximately + £7,796 today [2.024m]
= £48, 000 in round figures approximately.

-------------WHO IS THIS PERSON? It would appear this person [if the same 1] appears not
to be taking note of what 2 posters on this forum said, says of RRR? Not sure but appears so given whoever it is [one or more] are continuing to buy.

I am cognisant one cant buy a certain amount online as I have tried so they have to
telephone the broker and the charges will be more for commission by telephone and not online dealing.

Interesting and will have to wait to see what happens next. IN EVERY MARKET, THERE ARE BUYERS AND SELLERS. I am sure that whoever is buying [one or more big buyers] who has £ 4 8, 000 to spend just like that may or may not be nuanced?

Tues, 24 may 2022.

P.S.
End of RRR tweet as above has : "WE'LL SEE."
So, they further qualified it. tues, 24 May 2022.

Helpful, Tues, 24 May 2022:
Thank you for your supporting document of 16 pages on Daylesford, Victoria , Licence EL 00733
from Oretek from Melbourne, Australia [16 pages] - Red Rock Resources Sep 2020.
Oretek appears to be a Geo Consultancy?

So, useful to see all the reports that need to be filed for the Admission Document for an Australian IPO for Red Rock Resources /POW JV of the Ballarat , Victoria, Australia which now includes the DAYLESFORD licence per today's RRR RNS.

From Australian history, I am cognisant that FIRST GOLD WAS DISCOVERED IN THE DAYLESFORD area, Victoria gold fields, Victoria, Australia. [near Melbourne].

darrientaylor
For your attention:
Notice the word : "POTENTIAL" from Red Rock Resources dated 24 May 2022, post the RNS today.

Notice the Red Rock Resources tweet, 24 May 2022:
"It changes its undeniable P O T E N T I A L ."
Verbatim from the co.

More accurately, ALL CO'S whether it is on London AIM etc or on the Australian Stock Exchange must produce AN ADMISSION DOCUMENT with the pre-requisite ASSET/s
and preferably A CONSULTANT GEO's REPORT AND SIGNED FOR WITH QUALIFICATION ETC.
This is a pre-requisit for ANY LISTING and in Australian, the minimum listing is A$20m?

On London AIM, the new listing requirement is £6m.
Currently, RRR has a mkt cap of £5m [bit less depending on the spread].

So, is the poster saying that a CONSULTANT'S REPORT IS NOT ADMISSIBLE WHEN THE AUSTRALIAN STOCK EXCHANGE MAY REQUIRE IT FOR A NEW IPO for an exploration co?
It is typical for many of the ADMISSION DOCUMENTS that I have seen personally but I dont know for others.

Tues, 24 May 2022.
Again, only 6 TRADES and small trades. I will check again at the end of today, when the total is known.