Member Info for specinvestor99

Blueboy- Not sure how it works in the UK but in Canada you can not take it with you when die. Assets go into an estate or other structure and shares are sold by trustee to get cash to settle estate, pay bills, taxes etc

Helppful Agreed RRR has plenty to sell and for years RRR has had plenty to sell.

Having plenty to sell is not the issue. What is the issue?

Having a buyer

Black TR1 so % increased while the number of shares decreased (comparison between last two TR 1)

I am partial to the Canadian requirements which requires the additional disclosure of detail on: dates, # of shares (each trade) and the price.

It also requires disclosure of the # shares outstanding used in making the % calculation

All of which allows the reader to follow along and understand what is being reported.

The TR1 system is messed up and Black estate can not do basic math

Not sure what the fuss is all about. This is a time consuming process. When it started I posted it would take 3-5 years. We are now in the 3rd year. Again this is why I have repeatedly stated that RRR should not have gotten involved in other projects until the DRC cash actually arrived. By committing to a number of other projects including the most recent one of RRAL, RRR increased its cash burn rate etc etc.

Those historical actions can not be undone. Those historical decisions are reflected in the current RRR share price whose fate now hangs on what happens in the DRC. AB thought the last meeting would in fact be the last meeting. It wasn't. There are still loose ends to tidy up. Information needs to be gathered and documented (most likely how payment is actually made etc). That times time. Each side will carefully examine the written words and possibly want changes, edits, clarifications, additional language. All done in face to face meetings where traveling in the city is time consuming even in the best of times. The party receiving the proposed changes will most likely will not make an immediate response but will review those changes over the course of say the next 24 hours and so on and so on until the process is complete.

All of this is being done in climate of distrust caused by the original bad intentions of the party selling the property without compensating RRR

It is also possible that the Rebels take control of the DRC

Rwanda could launch a full invasion.

there are a lot of what if's

however it still remains that : RRR won the court verdict and Gecamines said what they said

Perspective Agreed that we have AB's but RRR also has a court judgement.

IMO it would difficult for an arbitrator have a different outcome than the court. It is the DRC while possible IMO the odds favor RRR

IMO the opposition caused delays in the hopes of getting a better outcome. This happen in North America (USA and Canada). Perhaps you dont see it the UK and everyone just promptly pays with no delays

Zumore until its done, its not done. There are any number of reasons for delays or non performance

IMO this is a on/off issue.

The chatter is just that: chatter. I already own shares so I wait. While I can afford a complete loss I would prefer that RRR get the DRC cash

Capt Kurk The DRC govt is not holding the money. The DRC has had armed conflict for years and years

Theeeduke Fortunately I do recognize that RRR's financial situation is dependent on DRC cash so based on your statements you must conclude that I do not deserve to lose my money. My analysis is based on your use of the word "AND" which links your statements that both must be true for that person to 'deserve to lose money"

Logically then it must be concluded that RRR also believes it must have DRC cash due to its financial situation therefore by your somewhat twisted logic that RRR will receive DRC cash

Re: "give us bears something to look forward to" LOL

Bears look forward to doom and gloom. Wallowing in self pity while seeking to have others join them for a pity party.

While I can enjoy most parties I would not enjoy that one.

Bears can look forward to AB getting this done and perhaps the Bears can enjoy eating crow at their pity party

Re talks to sell assets

Old news--RRR has stated this over & over. RRR even stated this in multiple annual reports.

Results to date---NONE

Panda1

Why buy shares? risk vs reward. There is a fork in the road - A-DRC cash is received or B-No DRC cash

government attention- Agreed the RRR case is hardly their top priority. Its probably not even in the top 10

It makes sense that when your country is invaded that the Government will develop a response. AB says he is staying there to keep the pressure on . Maybe it helps maybe it doesnt matter

I suspect AB will stay another week and then travel to the other country in the hopes of getting a deal done. Maybe thats real maybe not

This is a soap opera which is why reading the board and following events is interesting to a number of posters who have different opinions. Each gets to decide who the hero's or villains are

'Are you not entertained?'

Put out by Haywood research arm

this morning, RECO announced preliminary results from the Naingopo well that we view as directionally positive in advancing the understanding of the hydrocarbon potential within the Damara Fold Belt. However, more analysis (and time) is needed before detailed reservoir properties are fully determined. The Company hopes to have more information to share in the next 30 days (its reported the Company lost 4-5 weeks getting the core samples out of Namibia during the holiday season). For now, based on the results from Naingopo, the team has high-graded Prospect I (replacing the Kambundu prospect) within the Damara Fold Belt with an expected spud date this summer. Results from both wells will be used to guide the Company’s future appraisal plans. The Naingopo well will be temporarily abandoned and the rig demobilized ahead of moving to the surface location of Prospect I.

KEY HIGHLIGHTS

Naingopo well encounters 52 meters of reservoir in the Otavi formation. The Naingopo well encountered over 50 metres of net reservoir in the Otavi Group and documented very good oil shows within the Otavi zone as well as at surface in the drilling mud system. Of some importance, the Company drilled the well using water-based mud, supporting management’s confidence that the oil indications were formational and not part of an improper mud formulation. Until additional analysis is complete and interpreted, no decision will be made about future operations at the Naingopo structure, but the Company may decide to return for further appraisal drilling to fully test the extent of the structure at a later date.

High-grading Prospect I. Based on the Naingopo results, RECO has high-graded Prospect I that is located about 60 kms northwest of the Naingopo locations. The Company is currently working on securing necessary road permits and engaging with the community. The well is anticipated to be spud in July. The prospect is defined as thick (1,800 meters), and sizeable carrying an unrisked prospective oil or gas resource of 365 mmbbls of oil or 1.9 Tcf of gas and a moderate chance of oil based on a report from NSAI. For context, the Naingopo well was assigned an unrisked resource potential of 163 mmbbls of oil (gross).

IMO RRR never should have bought this (or got involved in so many others)

Why? 1-RRR is not an investment company and should focus on those areas where they can add value.

2-RRR had no easy exit strategy at the time it invested. It was a private company then and a private company now. IPO's are time consuming and expensive. A lesson RRR should now know all too well given the ELEP experience as well as the inability to list RRAL

Re Elephant has no value as its not listed.

Respectfully I disagree. Selling an unlisted investment might be more challenging but it can be done. I suspect you know this and are simply bashing for the sake of bashing. IMO this hurts your credibility when you make valid points

POW sold 49% of RRAL which is not listed and has no cash but it has value. The unknown is how much value? A valuation is matter of opinion. The market price of a listed security reflects the collective opinion of the investing public and is there for considered to be good measure but even the public market price can be wrong which is why some companies are taken private

Lets not forget that VUP also gets part of these funds and with this unrest it should increase their desire to get this done

Re: 'trying to scrupper it" Thats not what AB said (he really did not expand upon the RNS), the RNS said

'exchange information' and made reference to 'arrangements'

to me this is meant how funds are to be made. AB did mention having to go to the bank

As outsiders we dont know if this is big delay or a small delay

Comments/observations after viewing

Not reassuring at all. IMO if this just about gathering/exchanging information about the 'process' then AB could have said some thing about the delay. The flip side is that AB is limited to what he says

He looked tired and frustrated

Helpful

What do you mean by RNS first thing or during the day? What day ? (Saturday, Sunday or Monday?)

My vote (if I had one) would for a Saturday broadcast.

There is no doubt DRC people involved in this process could be playing AB. Consider the offer of a larger property could have been made with the hopes that RRR would drop the arbitration. AB, to his credit, kept saying this has to be sorted first, 'the international investment community has to see that DRC has a rule of law and that foreign investment will not be taken advantage of'

Make no mistake IMO the RNS news to me is disappointing. I placed my bet and still await a conclusion