Member Info for RichyRich1

Let’s see how long it sits in the warehouse Helpful before it’s sold to one of the five Chinese buyers.

As far as I’m concerned when that happens that’s when RRR/ALR can rightfully claim exporting has begun wouldn’t you agree!?

Just because one truck crosses a country border is not creating any value what so ever for share holders even if technically it can be claimed it’s exporting (you having a laugh!!)

As you say the first truck load is experimental, testing the waters so to speak so a lot can go wrong before the product is actually sold and then exported to the buyer.

Once that’s done and dusted and RNS’d I’ll be delighted.

I really hope AB is embarrassed at releasing that RNS unless there was an ulterior motive in doing so as it has had the exact opposite effect to shareholder value creation and just made RRR even more of a laughing stock (IMO!)

Can someone confirm how much 200t is currently worth please?

Caveat to that is as long as what is spoken is the truth.

No idea how to say that in Latin!

The kicker is number 6 Helpful because without that ALR’s value to RRR is reflected pretty accurately, worth next to nothing, all other factors are meaningless.

Have the Chinese buyers given any indication on when they will be making a decision on whether they are going to be buying?

Surely you discussed this with AB over the weekend as it all hinges on the 5 mystery Chinese buyers!!

You’re missing the point here Helpful. My question is really really simple, other than 8kg of samples and land that may or may not contain lithium (because there’s no drilling currently planned to prove definitively) what does ALR actually have that should warrant a significant increase in value because at the moment it’s all X posts and innuendo and absolutely nothing substantive at all.

I’m not missing the point Helpful. Just because ALR has 8kg of samples how can you do a peer review with companies that have invested millions on resource definition, drilling etc?

I’m invested in RRR so not a troll, far from it!

So I’ll ask you again what does ALR have, not what other companies have as a comparison, what does ALR actually have that is of proven value?

What does ALR have though Helpful?

8kg of samples, no drilling, no resource etc etc.

Not sure it’s the bashing Maidit that is causing the drop. I think the fact that there could be almost 1B more shares being issued for a paltry £100,000 has quite a lot to do with it.

Let’s just hope that AB can pull this off and isn’t just full of ****!

Taken from 19th October RNS……

“Red Rock Chairman Andrew Bell comments: "We are pleased by the support offered by investors and shareholders for this novel instrument. With the expectation of near term positive developments including an IPO for an investment, production, and a compensation award, we did not want to dilute supportive shareholders by issuing a discounted equity or debt instrument that might be traded out into the market, and this instrument in our judgment fairly balances the competing interests, and of course incentivises us to develop positive news for the Company."

Hmmm!!?

Maidit. There is further explanation for this years GM call…..

Dear Shareholder,

RED ROCK RESOURCES PLC GENERAL MEETING

17 NOVEMBER 2023, AT 2:00 PM,

The Company is holding a General Meeting and the below provides background information.

The Company continues to await the release of the signed arbitral award in the Democratic Republic of Congo, where it seeks from the buyer of certain assets partially owned by the Company, $7.5m of the consideration due. The Company separately seeks the enforcement of its existing judgment for $2.5m against its former partner in respect of that portion of consideration already paid.

The delays in release of the award have been frustrating, but it is to be noted that the other party has also not received whatever portion of the funds it will be found to be entitled to. We are at the last stage, but have been there for some time.

Meanwhile, the listing of Elephant Oil in the U.S. has been a slow process, where the departure from the relevant exchange of the previous review team has caused recent further delay. We have some grounds to believe that we are now close.

In Zimbabwe, our plans to generate cash flow from lithium sales were delayed, principally by changes in regulation including export permitting requirements. In a recent visit we worked with a reinforced new team on the ground, rapidly resolved the key difficulties, and are now ready to implement a model for starting production and export sales which puts us in control of the product pipeline from mine to destination country warehouse.

As we go through the audit process for the year ending 30 June 2023, it is important that we show we have, even if there have been delays, a sufficient range of options to be confident that we can present a robust range of budget outcomes for the year ahead.

Passage of the resolutions now presented, therefore, will both backstop the budget and provide operational flexibility at a time when the gold price may be breaking out and consolidation and production opportunities are occurring, and will in particular ensure the Company is ready to meet working capital needs to finance a potentially fast-growing lithium pipeline. The Company seeks a general authority under both Section 551 and 569 of the Companies Act 2006 up to an aggregate nominal amount of £100,000 of new ordinary shares, representing approximately 38.91 per cent. of the Company’s existing issued share capital.

The Directors intend to vote their shareholdings in favour of the resolutions.

Board need to get their finger out and do something to address the constant drop in SP and reassure the market.

Worry is what can they actually do!?

Despite all the potential, next raise is going to be horrendous!

Never mind 2p or not 2p but is 1p or not 1p going to hold!!

Even though progress has been made and recent news is encouraging the reality is Cobra are cash strapped.

Rupert mentioned in his last interview they need to go to the market to raise funds sooner than later so why would anyone buy in now with a 20% spread and an inevitable raise on the horizon!?

My intention is not to de-ramp the share or dis it in anyway but the sooner they raise the funds the better.

At this rate it’s hopefully not going to be any less than 1p which is where the market seems to think it will be.

Get it done at 1p so 10% discount for mates rates and get cracking with funds in place to push Boland to production!

Need to get the placing out of the way!

Even though the company paid for video production one of the best interviews I’ve seen!

That’s more like it, grill Rupert for specifics on the project/company to gather relevant info.

It’s all about REE going forward. My original enthusiasm for Cobra was the IOCG targets but those are very much on the back burner for now which is disappointing but budget dictates what they can focus upon.

Placing very very soon obviously and at 1.2p for £1.2m dilution is going to be hefty!!

Not bad news obviously but not exactly fantastic news either.

3 years worth of drilling for an additional 68,000oz of gold?

Extrapolate out and it will potentially take another 10 years to reach their 1m oz resource!

Very considered posts Shipwreck and agree with you completely. Didn’t realise you held so many share in Cobra.

Unfortunately what I posted back in August is proving to be accurate!

Game changed when Cobra’s focus shifted to REE and not the IOCG exploration I was expecting.

This is what I posted back in August 2022….

Bitcoin, time will tell but the trend with Cobra is market cap goes up, shares in issue goes up and SP stagnates or drops year to year. Look at the trend!

How long do you think it’s going to take to prove up the REE estimate, complete feasibility studies etc?

Craig Moulton thought it would take around 2-3 years to prove up 1m oz resource and maybe 4-5 years to start mining when he was CEO. This was 2 years ago!

We’re nowhere near a 1m oz gold resource, if we’re lucky another 100-200,000oz at Clarke by year end?

That will be great! By which time we’ve run out of money. The market knows this so our SP and market cap gets punished meaning raising at a lower price.

Until Cobra can show the market what there plan is to actually dig the stuff up I don’t see fireworks here at all, far from it.

I hope I’m wrong but I’ve been invested here quite a bit longer than you have and experienced year on year the trend of having to raise for exploration. Nature of the beast but what concerns me is if the trend isn’t broken then it’s going to be a lot longer before we see any meaningful increase in our SP performance.

Not dissing Rupert or the work he’s doing just questioning my investment which I’m perfectly entitled to do!”

Since that post we’ve had the REE estimate, another raise, delayed drilling, new drilling programme announced etc and SP continues to fall.

I’m staying invested until gold resource update later this year and depending on the results of that I’ll probably bail out.

Unfortunately Cobra are taking way too long to gain any traction and still believe it would be in their best interests to leave main market and join AIM to accelerate their plans!

Wonder if they managed to drill enough to hit the 75% expenditure agreement or will we have to wait until next February/March?

I asked Ben at Vigo what his thoughts were on Shards comments regarding Andromeda. I’m sure he won’t mind me posting his reply as nothing really divulged we didn’t already know…..

Hi Richard

Good to hear from you. All well, thanks!
Not really in a position to know what Shard were trying to say there. That being said, what we can say is, once a 75% position has been achieved, there is an opportunity for both Andromeda and Cobra to determine how they might jointly wish to conduct further expenditure on the project. This will involve consideration of a number of alternatives. This process has commenced but is likely to take some time before a position is reached that is announceable so that’s all we can say at this point.
I hope you are keeping well.
Best regards
Ben

Think Hornygoatweed is referring to this in particular and curious about as am I!

“Cobra seeking to simplify structure by
switching Andromeda’s interest from project to top company level.”

From project to top company level????