Member Info for Oldnbald

Bell is still getting paid.

The rest is a wash rinse repeat cycle

Last summer i told you all i'd bought a metaphorical field that i was going to plant with sweetcorn - to supply me with popcorn for the inevitable dying throes of RRR this year. That sweetcorn is growing well.

I had zero faith that RRR would recieve any monies etc etc from Congo, asset sales would not happen, there would be no BK Gold , dilution and debt would be rampant.

Sadly my predictions have proven to be true. I still have no faith at all that Bell will deliver shareholder value of any description an RRR will end up in administration this year.

SO... as that metaphorical popcorn will be ready in about 3 months - i'll settle into a comfy chair and watch with some genuine sadness as the destruction of shareholder value continues.

There will be no monies, there will be no gold, there will be more hubris, more dilution, more debt and AB will still be paid until the bitter end - that is still my prediction, as it has been for years now. Someone will walk away with assets but shareholders will get nowt.

There was potential here - but nobody in power knows how to realise it. RRR required focus and execution - it did not get it.

And then the Dump

sigh - how many times does this happen on this share? I mean seriously.

What i cannot work out for teh life of me is why anyone would fall for it any more

As Bell blocked me years ago on X - i rely on links here to access his latest ramblings and deranged musing. The latest one is true to form i see.

Whiff of Ramp in the air??????

hope for your sake it's not but.... history suggests otherwise.

Sorry if this is a dumb question

I think the PHP offer is best for us - this is just opportunistic while the shares are subdued - then KKR get all the value doanstream, which is probably significant, we get nowt

Like you I am utterly confised a bout who owns what

I kinda watched it. but tbh i've seen so many of these 'jam tomorrow' utterances that I can't be bothered any more.

I mean come on............this sorry DRC tale has been dragging on for how long now? So has the Limon, so did Thule Iron Ore, so did ..... blah blah blah

My immediate thought was 'when's the raise'

Because it can either:

1. protect an industry that is critical to national security or strategy - such as farming. You need food in a war and you really don’t want to be reliant on imports to feed your people.

2. Protect a sector against dumping by overseas manufacturers shipping below cost goods to your market and destroying domestic production in the process.

Otherwise I agree - what’s the point?

Which is why the West, that doesn’t do dumping and has fairly high production costs tariff about the same once you average it out.

UK goods tariffs on U.S. are about 3.8%, US reciprocally is about 3.4% - so you negotiate those tariffs to be free or equitable. It’s not that hard.

UK and U.S. have about an equal trade.

What you don’t do if you can think about anything other than cheating at golf, ⛳️ is slam 10% on the UK and think it’s fair- it’s not. It’s a penalty. A penalty for being fair. It’s a protectionist Tax.

What the orange one is doing is forgetting that people buy things they want - US wants European goods, but US goods like cars made in U.S. are not that suitable for Europe due to high fuel consumption, size etc etc

So…… basic economics…. Who’s at fault in an equitable tariff landscape when one party does better than the other?

Is it the consumer who simply doesn’t want what you make or the producer for not making what people want to buy?

Ford,GM etc get this - they make European standard cars in Europe. No tariffs. Then export them back America for those who DO want to buy them.

Useless leadership and utter value destriction based on economic illiteracy and a narcissistic desire to always be in the centre of deal no matter how bad it is.

And that's just Trump.

Well it's better than his usual right wing gibberish

As long term CEO, Andrew Ronald McMillan Bell must hold responsibility for what has happened, and will happen, to the company.

The buck stops.... at the top.

Whilst it is of no surprise to many of us (most?) - who never believed that this was going to end well for the good old shareholder I do feel for folk who are left holding this car crash of a company. Even the hopelessly optimistic.

Looking at the share sales - we have folk bailing out of their now insignificant positions at a rate of knots. The values of the sales tell you all you need to know about the utter destruction of value that has taken place over the last 10 years + in RRR.

This is playing out as expected:

No monies will be paid to RRR because RRR will fold before anything happens. They all know this, they just have to wait.

No assets have been sold despite it being blindingly obvious that they needed to be offloaded a long long time ago. SO.....Debt holders have a more senior claim to the carcass than shareholders (who are at the bottom of the heap). So - those 'supportive' debt holders will get first dibs on the assets that RRR has. Which I suspect is what they always wanted anyway.

Meanwhile - Mr Bell is still being paid, and still posting up on X about things that have nothing to do with RRR. Interest is still being paid. The debt will mount until someone decides its time to kill off the zombie - and they can do that really easily - no more loans and it's over.

Sad - I believe that this company could have been something if it had different management, focus on a small number of core asset classes (gold) and focus on production. Keep Jupiter for the divi's - cash flow to keep the lights on.

but no......

I will be interested to see who gets what from the carcass and what directorships are picked up

Uh-huh- Try 'NEVER'

How are the asset sales going? Which assets?

The trouble here is that everyone knows it's deeply distressed so will offer accordingly if at all - may just be cheaper to swallow the company whole once it's stayed down on the canvas and spit out the bones.

The lack of insight into the progress across so many fronts, the failure to deliver against so many stated goals - even ones which are 'underway' is shambolically bad. Rarely are these failed goals even commented on in any meaningful way.

I do believe that RRR has run out of runway - it's a zombie stock kept alive by debt that claims insane interest - it's a matter of how fast and what does he do next.

RRR shareholders - it's over i'm afraid IMHO, but you know that don't you!

I see from AGR that they have said they will recommend accept the cash ofer should it be made formal.

Honestly I think it's short sighted to accept the cash offer, i'm not just saying that because i hold PHP - this is a Gilt Yield driven Share price atm, a merge of near equals would make a lot of sense from both companies perspective and when the world finally stops going mad and inflation calms down - the price will jump. Plus it adds diversification from PHP with their Irish holdings.

Just look at the SP for both companies...there's at least 40% uplift baked in with the current Divi yields when inflation finally cools.

Add to this the fact that with the merging of so many Wealth Management funds - size does matter - to get on the radar of wealth managers now you need to look at being serious FTSE 100. The combined copanies will be approx £2.75Bn market cap today which would be a solid Cap and attract more cash investments and tracker funds.

This is very much a 'jam now' scenario and the cake...... KKR gets that in spades later on NOT the shareholders.

Is it one of those inflatable ones you used to get in Esso garages?

true story - when I was at school - A spectacularly thick fella and his equivalent mate bought one of those inflatables and got the train to Brighton and 'started rowing to Spain' ..... lol

they were rescued about a mile off the south coast sunburnt, dehydrated and having eaten the entire multipack of Skips they'd taken.

So..moral of the story for your boat...... get an outboard ;-)

Does this process take

Can it be dragged out for

Does RRR have before bankruptcy?

the following is all a conversation not fact. Be good to know what people think.

'Assets' are, I suspect but don't know, the driving force behind warrant conversions - holdings are being built up on the cheap (lets face it - they're not being sold on) so when (if?) the 'unthinkable' happens and DRC fails to deliver then....the asset that the creditor is after will be available on the super cheap.

Who wants to place a few bets on:

1. What is the prime asset? - Australia Gold is my bet along with any new Congo License if it ever happens.

2. Will DRC ever come to fruition? - Probably not is my bet, or at least not the millions in cash that are being mooted. Maybe peppercorn cash and a License.

3. Will Bell have a nice board seat in any new post RRR venture - I bet Yes

4. What will the rest of RRR's assets be valued at - Bugger all is my bet

How much will your stock holding be worth?

Lol, yeah. the spread is epic so you can safely ignore any SP change +/- 15%

I'm running the slide rule over PHO and comparing it to BBOX, who also released results today.

In short BBOX may yield less atm, but to the points raised this will alter for PHP as dilution to pay down debt occurs. The capacity to increase rents is limited by it's reliance within NHS, which does rent reviews centrally.

I had some spare cash today and have chosen to put it in BBOX - the potential for NAV growth and Rent rises is much stronger than PHP that should support the SP and increase Yields against todays price much more strongly.

I haven't given up on PHP by any means - they are a strong company throwing off Divi yield of 7.51% compared to BBOX's 5%.

So we just wait :-)

Sorry for typos