We would love to hear your thoughts about our site and services, please take our survey here.
Did they ever get the part over to Morocco. I never saw and RNS saying they are back on their trial so your June date looks massively optimistic. You couldn’t make it up with this inept company. They seem to lack commercial sense. My opinions only ofcourse. I am sure some investors think they are fabulous but after 15 years I have a completely different opinion. I am looking at the first opportunity to exit.
It’s disgusting - a great little company but run to the ground. What a rubbish and ludicrous deal. I’ve never seen something so awful in 20+ years. A typical Private equity stunt - CEO should be fired in my opinion as should the CFO. Greed greed and greed bleeding the incompetency of management. Of course the news about NatWest (highly leveraged) does not help in getting the revolving credit line. My opinions only ofcourse.
Well £10k when I is worth about £58. So that’s why you’re seeing the so called ‘saddos’ selling.
The management team are non existent- have you been to any of there AGM’s, absolutely pathetic and clueless, this was robbed by Pirate Pete Landau, the incompetent fools coming in as management after him with little experience- you could not make this up. Huge debts driven up by the company that takes it over....a bunch of water flood experts who forgot to check there was enough water available....ummm quite hard to believe. Worst run company I’ve experienced. All personal opinions only
Maybe but some of us would have waited 20+ years to get to half of what it was in 2010. Andrew Bell had a short period of time to ride this super cycle and show that he really is a decent and competent Chairman and not a money grabbing pump and dumper like so many heads of small cap plc’s. Opinion only of course.
Good post Orion and one of the aspects of JMS management I could never understand- no need to pay 14-18% divis when 6-8% would have been suffice with further development of assets. Annoyed me that they didn’t make a bid for the port too at the time. JMS seem to lack ambition and it shows. A one trick pony. Annoying RRR have failed to mention that the IPO won’t go ahead and considering its material, that’s well below the line. This is why AB is getting such a poor reputation in my opinion.
Yep, you couldn’t make this up. Bad news for red rock. Only option is to sell it, then where does that leave rrr with AP or develop it and hold off the dividends, maybe then pensionenfords will sell out if they don’t receive divis for a few years. Either way bleak for RRR in my opinion
I did that with the horses races once for the Spring double after the first horse came in....spent all the cash not yet won,only for the Grand National Party Politics to win 2 months later - happy times. Go buy your Ferrari....well worth it, you'll have fun either way :)
Charts for daily (although a small dip could occur) and weekly are both indicating a stonking buy :)
- A listing will double this
- A partner for Kenya
- A mining licence for Kenya
- Sale or JV for anything in DRC
- A JORC for DRC
- An upscale JORC for Kenya
- Power metals whose CEO is exquisite (and something AB could learn from) informs the market virtually every day and takes a modest pay check - and purchases shares on the open market.
- A spin off for Iron Ore
If it doesn't reach 3.5p by end of year, I'll eat my Terry's Orange chocolate for sure
but now only 2.8% of a company that has 3-4 RNS per week, market up dates every week and a host of interesting companies. I agree fully with Magic's last statement - A company that does not RNS vital information says a lot and massively plays against Andrew Bell. Imminent means months or years and the market simply does not believe in the management anymore. I hope otherwise but am massively disappointed of late. I continue to hold with the hope that Kenya will get their mining licences and uplift and DRC is bought by the Chinese and RRAL has an IPO valuation. But if any fail, I'll sell at a lost and that would have been 3x losing money with Bell over 10 years. (Believe me I will be very uncomfortable with that)
Indigo, the problem is that this seems to be the annual conundrum. We are faced with running out of money so have very little option. Many people, myself included are probably over exposed in this company. Completely our faults but one does not expect the can to be kicked down the road for 4-5 years. The product has been ready for years. The runway should be extended until Christmas 2021 but the insanely high salaries for a non earning small cap company are simply non proportionate and the directors need to understand this. MK lame's attempt at his awful Proactive interview requesting 5-6 resolutions to be passed was a pathetic attempt. He should have said we are cutting our salaries but we need your support. A very different message. I will reiterate, I have absolutely no problems with people earning £1m+ more a year but earn it. (In a PLC company that means shareholders earn money alongside directors and for my personal style, I also expect the directors to morally take care of staff and suppliers too but providing a good environment to work in ).
Helpful, however the one thing about POW is that Paul Johnson actively tells the shareholders with excitement and what seems honesty, why CEOs of companies should not pay themselves insane amounts such as £4k per week on AIM (as ridiculous) he explains why he does things, he participates in share purchases, as has been pointed out with his OWN money, and he informs the shareholders very quickly and frequently on activity. It is the exact opposite here, which is why people are so irritated by Andrew Bell and value this company significantly less than POW - 3 x less with roughly the same shares in issue.
Barking!
Agree with almost everyone’s post.‘I’ve been 10 years + and QFI has for an AIM listed company tremendous support, but now is the time that they align themselves with shareholders. Indigo, if you are paying your staff £270+ k for producing nought, then you have more money in your back pocket than makes sense or are just financially inept. I don’t think you are probably either, but not even Goldman, JP, Morgan Stanley or UBS trash this type of cash without some results.
Couldn’t agree more. Was stupid beyond beggars belief To sell a top asset, but so many traders do the same and lose by trying to be cleaver When all they needed to do was hold. I bought in at 11p. Three times I have been burnt by RRR and it hurts. I do understand the bitterness of those who has suffered similar loses because in any normal company the chairman - CEO or both would have simply been removed. I just hope Andrew is fundamentally honest and wants to be thought of as a good entrepreneur and not a greedy sell interested charlatan. As they say what goes around comes around. Anyway if AB cannot make a multi million Pound (£50+m) company now with the bulls lined up and stacked in our favour then he really would be as useless as they come, however if he can then I would consider him managing to keep the lights on during a commodity bear market damn good. It’s up to you Andrew!!! What kind of man are you?
Common think a JV may work for Kenya
As for CLN holders or long term making xyz who cares. Share price up and everyone makes money as long as they haven’t shorted the stock. It really seems petty Zumore to what I can tell is nothing more than envy. One thing is being critical of the company and yes AB has done some stupid stuff beyond anyone’s imagination and I agree is sometimes coy in some of his RNS’s (of course all in my opinion only), but now he has the opportunity to prove himself To the market that he isn’t out for himself and If he really is interested to leave a mark then there is no better set up for him to do this. .Anyway Let’s hope he does get on with listing gold assets, listing Iron ore assets, JV Kenya and get the SP up to double digits soon.
Are we expecting a bunch of viaros shares now?
Atb
Colin, that is what is so painful to many old timers- The BS. The company was in dire problems, borrowed a lot of money at high interest rated sharks ...etc etc. , and lots of not so concrete information came out of the chairman’s mouth which ended up selling it to the non executive for an£1 ( if that is who it was sold for in the previous post). We were told £10m was in the bank waiting for transfer, RRR spent £5m on exploration, lovely little asset with potentially wonderful resources in Greenland, at the time we bought it was the previous top of the iron ore price before spectacularly collapsing went, admin expenses were awfully high also at the same time which meant just tons of dilution came etc etc. It’s the reason why Magic cannot let it go, because the Lack of RNS’ing important things and previous decisions have been so poor whilst management have spent like no tomorrow-. However in 12 years I believe we are potentially at an amazing junction if we can keep newsflow coming with two possible IPO’s. Let’s see