RE: informed reports5 May 2022 11:04
kimiR-"not a good time to buy hugely dilutive placing to come"-9:05, Thur, 5 May 2022.
BALANCE:
The big shareholders said they did not want any more placings. So, from the latest INTERIM RNS, RRR is carrying a cash position dated 29 Apr 2022. If there was to be a raise, then it would have to take place. However, at the same time, at the Proactive interview, A.Bell was
asked how he intended to fund the few activities he mentioned.
A.B said that they can always sell something. Further, AB said he is GOING TO THE CONGO to settle the mater of the US$5m + $15m MUSONOI , Congo copper and gold project [50.1% to RRR].
At a market cap of £4.2 to £4.5million, it is NOT advantageous to do a placing and the answer is obvious.
However, on the interims, the assets are in the region of 2 splits of £13m/£17m. However, as norm in all accounts, the split is not known. Hence, for all the PROJECTS mentioned, I had to go over them initially and then more in-depth to see what the ASSETS comprise of and what is their status as MUCH AS POSSIBLE.
It is this that one is waiting for ["asset" events RATHER THAN placing.
To this end, A.Bell mentioned in his said Proactive Investor's interview of 29 Apr 2022 [after interims was released on the same day] that:
"MONEY BACK FROM THE CONGO."
"OFFER FOR OUR ASSETS." [plural]
etc including "LITIGATION" "Fit for US$250m" "OUTSIDE THE CONGO" relating to MUSONOI.
A.Bell mentioned that an INTERNATIONAL co has Musonoi. From the link I gave, this int
co stated construction in 2020 and almost end of 2021 they applied for a loan of US$350m to start development of Musonoi. Given this international co who stated they own 75% of Musonoi and Gercamines 25%, is LISTED in HK at HK$12.8bn mkt cap, it is not norm to
own and develop the ASSET if TITLE NEEDS TO BE SETTLED? Yes, No, one will find out shortly after A.B returns from Congo.
So, one will see if the above about big shareholders is correct or there is a dilutive placing as your said. If none, then ...shareholders [big] are calling the shots. TIME WILL TELL.
Meantime, DYOR.
Thur, 5 May 2022.
I am hoping that the big shareholders will come to know more fully about Mt Ida and what was from the latest interims of Juno and the magnetite situ that is positive about Sino's profit of $1.3bn yesterday and about local billionaires like Gina and Creasy entering the space inc even Rio mentioned.
One waits to SEE.
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