Member Info for talkinto

Have a day off NEWS...

I could quote every one of AB's statements on the DRC payment over the last 18 months if I really wanted to - they all would state something along the lines of the money is coming. Or you could just watch every stockbox interview yourself and realise the money isn't coming any time soon.

You must be about 50+% underwater on your investment and you're one of the newest on here.

No quick win on this share it seems for anyone.

DYOR.

Well I've listened. I have to chuckle.

The locals with less than a nickel to share between them can set up an operation in AB's back yard quicker than he can. Now he's kicked them out and claimed there tin pot operation as his own (including the equipment). I can only imagine that equipment is really high end stuff - basically 5 sieves. :)

I keep tuning in for the DRC payment spike and it's pleasing to hear that that AB now believes "we could expect something to happen very quickly"

I'm just opening up my thesaurus and dictionary to see if "very quickly" trumps "imminent", "close", "very close" "days away"...

Noted IG - now moved my limit buy up a touch today as it never filled yesterday.

Sadly Aimdogs it does take around 4-6 months to truly see what a shower it really is.

I think you've fallen for the same 'imminent' news line I did only you've fallen for it 6 months later. I left with a bloody nose but I'm still about 30% better off for doing so as price just continues to drop.

Although, I would say we are not foolish - more misled with very poor governance and no accountability from RRR for failures to deliver on anything. Poorly worded RNS, misleading stockbox interviews and simply poor strategy never actually followed by RRR - more just a strapline to sign off the reports for release.

There is not a single shareholder on this board that is holding a positive position in RRR - you can currently buy shares now at 0.06 or less (the lowest valuation ever) and with gold prices at all time highs there has not been a single purchase today - that shows you the level of trust and interest there currently is in this sham of an outfit.

DRC - Failure

Gold - Failure

Lithium - Failure

Non-core Asset sale - Failure

Director purchases - Failure

Shareholder value - FAILURE

DYOR

Well I've been on holiday for a week - come back and this is down another 10-20%...

Just caught up on tweets and I saw a pond and some mud - I could not see the gold F***ing everywhere???

Maybe I need to go to spec-savers. In other news the actual share price has no correlation to the gold price, in fact it keeps doing the opposite.

Has everyone given up on the DRC payments now?

Quite wide... I've just popped a cheeky £5k buy limit order in to top me up on the lower end of the spread - let's see if it gets filled.

Are you suggesting this is a lifestyle company and that AB couldn't successfully deliver a pizza...let alone a business result for shareholders.

If so, the share price seems to agree with you. The passing of time without any positive update will likely not be kind to this share.

DYOR.

AB states the only issue holding up DRC is a rogue lawyer 'on the other side'.

He also quotes RRR are lucky to have a good lawyer.

AB also stated this issue would be solved quicker with him on the ground as it would only need ONE WORD to dissolve the issue.

He's flown all the way to Congo so hopefully he didn't forget what that one word that needed saying was.

If he indeed said it, surely the announcement should be made in the next 24-48 working hours at the latest to say its finally sorted?

Surely AB is now at the very bottom of the funnel of excuses/reasons not to get paid and the only thing left to come out is success or acknowledged failure. If the RRR lawyer is good then the other side's must be world class because they've kept the chest locked far longer clearly than AB anticipated.

https://www.youtube.com/watch?v=he_QNLFlFzg&list=PLt5TrgKtYSNnKQeYf9okh5mmx_Tc7TawD&index=23

3:16 onward.

Is RRR finally now imminently days away from payment or not - the current share price and volume would suggest not.

DYOR.

Hmmm...Do I buy back in on AB's note that it will take him 2 days to do his business in Congo and have the money paid???

No...This share has made me cynical... I'm probably going to now wait until RNS drops confirming receipt of money and then potentially buy in after and ride a wave upward giving up some of the initial gain but also losing all the risk of further drop if he is not successful.

To be fair to AB he has met his deadline and is committing to going to DRC in line with last week's message.

I wish him good luck and success in obtaining payment.

I'm not interested in news today and seems neither was the market - it's more jam tomorrow stuff - 2 years away etc but will need to find £1.5m to make it happen - how - possible shareholder dilution. No talk of using DRC funds to pay for it but that may change next week once the money is in the bank...

Thanks Spec/All,

Yes it was a genuine question - not specifically on whether RRR would actually do it but whether holders could see any pros/cons to the idea. If debt and project costs outweigh or match the DRC payment then I expect that answers the question anyway.

I'm still recouping my loss from here in ECR and now nearly back to evens after today's rise. One eye on this still as I'd like to ride the wave I bought in for originally - only up this time, not down...

Just seen and copied the below from another poster on ECR (13:37 today) and thought it relevant to here:

Start:

Thats what happens when you have Directors with skin in the day that only get paid with shareprice rising

None of this lifestyle company rubbish that alot of the AIM minnows are run like

This is the real deal

End

Just made me think what a big difference it could make if AB or other senior management start buying in to RRR asap. Would likely start a nice catalyst in RRR's share price ahead of any DRC payment / project delivery.

I'm assuming there is nothing stopping AB or board buying more shares presently?

Anyone got any views on possible pros/cons of a share buyback if RRR do land a large one-off DRC payment.

I think it would reward / tip the hat to some LTHs, instil some market confidence & also unwind some of the heavy dilution over the last year bringing the shares in issue down.

Let's say just £1m buyback with the rest then going toward funding of operations, paying off debt etc.

This is based on RRR getting the max expected DRC payment 'imminently'.

AB/Senior Management planning on flying out to DRC this week according to last weeks update. Could generate a price spike here if a REACH drops confirming the arrival date in Kinshasa?

'We are in constant communication with our country representative, our lawyer, and our local partner and expect senior management to be in the DRC this week or next with a view to finalisation.'

This is probably the only company I have ever had to really fine tooth comb every word of a release with to look for the caveat and clever wording.

Quote:

We are in constant communication with our country representative, our lawyer, and our local partner and expect senior management to be in the DRC this week or next with a view to finalisation.

END Quote:

The only word that needs focus in this statement is 'expect'... once again it delivers a nice shiny promise on the face but the detail says we may or we may not (expect to) get on a plane some time in the next two weeks.

Hence why this is just a REACH and not an RNS.

DYOR.

News - maybe in the past but I don't think ECR is currently comparable to RRR at all.

ECR has made progress toward funding by recently selling non-core assets to generate cash flow.

In addition, they have also changed the board and those brought in to take over the running of the company have sacrificed salary for shares so they have skin in the game and need it to succeed to get paid.

I also believe ECR is now fully funded for current drilling which they have stated could be transformational for the company.

In comparison, RRR has raised no cash through asset sales, only through shareholder dilution even though they talked about it in the end of year statement.

As far as I can tell the RRR CEO has bought no shares in the last 12 months, his % holding has significantly dropped since the last broker note which quoted RRR targeting 2.8p and he continues to take a fat salary despite the share price being decimated year on year.

Again, for full disclosure I'm invested in ECR and only look in once a day at 07:00 on that stock because I'm confident in the vision and running of them.

And again, for full disclosure, I'm checking in here to possibly buy in and chase a quick spike on DRC payment landing (nothing else) as I don't believe this company can turn a corner or even spend the DRC money wisely and I don't like the lack of transparency in the company releases - how many tonnes of spodumene were exported and continue to be stored at the Port of Beira as one such example.

Plus I like to read what spam Helpless posts to entice unsuspecting mugs into buying into this dog of a share even though he won't buy in himself the conventional way.

Or the price of gold might drop again as it has every time it has gotten to these levels...

Helpful - you simply refuse to accept or acknowledge that RRR has achieved nothing for its shareholders and you continue to state its in a good place - as I have put to you before you must concede that you are a ramper if I (or others) are considered to be de-rampers.

On your comment on DRC...

QUOTE:

It is not under RRR's or AB's or anyone else's control.

END QUOTE

So how can AB quote to the market it is 'days away' or 'imminent' or 'very close' or 'very, very close' if it's out of his control and he doesn't know. My question stands - at what point is this considered as fraudulent misrepresentation?

A poor response helpless. You didn't pick any holes in my statement but instead waffled on like you do daily about gold price movements.

Quote:

And since we are talking gold price: it is currently $2,097.75 but again you know this don't you? Gold was $1,925 6 months ago. That is a change of $200.

End Quote.

My simple response... if gold price has increased significantly over 6 months and now everyone wants RRR assets then Why is the share price at its lowest?

Why has the RRR share price continuously declined over the last 6 months if its gold assets are of such high quality?

You fancy commenting on my DRC notes or just continue to ignore them and bang on about the price of gold even though it has no current correlation to RRR's market value.

As opposed to a non-shareholder pretending to be a shareholder posting links to gold prices and making outprices over $2,000 will be lucrative for RRR shareholders...or making statements like 'RRR is in a good place'

Even more pathetic.

Pick holes in my statement helpless or get back in your box.

Statement on 14/02/24:

We have been in constant communication with our country representative, our lawyer, and our local partner and matters to resolve the above are progressing. We hope for a further update by the end of this week or early next week.

Extract END

Any reason there has been no update or holding REACH from RRR in the last week or so on DRC...focus has simply moved on to the next shiny thing.

Lest we forget AB also stated 'days away' weeks ago.

At what point do these types of misleading statements become considered as fraudulent misrepresentation?

It looks like the market is calling BS and pricing this to fail with yet another new low share price spread today with some sells under 0.07.

It seems people only want to know when AB flies to Congo to p[ick up the elusive cash he's been talking about for ages... everything else is just more expense to RRR chasing the jam tomorrow dream.

Wouldn't they have been better spending additional money on a stronger legal team that can get results in the Congo and help Barry out with 'meetings'?

02/02/24:

David Lenigas commented:

"Red Rock Resources has a number of really top-shelf assets and I really do like the push that the board has initiated into reviewing opportunities in the oil and gas sector. I'm looking forward to assisting Andrew and his team in trying and build a company of real size. I see the value of the assets in their portfolio as being worth considerably more that RRR is currently worth, and I will relish the opportunity of helping Andrew deliver growing shareholder value."

From my experience, consultants rarely work for anything less than £500-1,000 per day for run of the mill quality.

The high end high profile (SMEs) are normally upwards of £2k per day.

Anyone know yet what DL is working on as consultant to grow shareholder value?

Is DL on a day rate / tweet rate / bonus linked to share movement rate / Salary?

How much time does he have to give to the company daily/weekly for his consultancy fee?

Don't worry CK... according to AB the DRC payment is 'very close'...

Others may suggest dilution is more likely...take your pick I suppose.

Oh dear...

I hope the market makers haven't taken offence at the loose accusation by AB otherwise they'll be asking AB to lawyer up :)

Maybe the price has dropped because he's admitted to committing a huge amount of cash without having any agreement in place with the company supplying the equipment and therefore RRR are commercially exposed.

How many CEOs running a cash flow poor company would commit to spend £150K+ on a gentleman's agreement?

Seriously... If I was the other company supplying the much needed equipment I'd now be rubbing my hands and negotiating really hard. At the very best AB has already advised he'd give away 50% - now try giving them less than 50% after declaring that to the world.

As the other company, I'd now be pushing for 50+% & what can AB do????

He could reject it and then declare project failure to the market???

AB's already advised the market that the company supplying equipment has many other projects they can deploy it to when it arrives so can assume they are not desperate for the work with RRR.

Surely, they can negotiate really hard now if they wish. Why would RRR not draft up a simple commercial agreement in advance to protect themselves?

On DRC...I was watching some old interviews earlier. AB stated in one interview 10 months ago 'we are very, very close' when asked on DRC.

Now RRR are only 'very close'...which is backwards step from 'days away', 'imminent' & 'very, very close' but still AB fails to explain why he keeps informing the market of these feelings in statements. The declaration that payment was 'days' away weeks ago has now been played down to 'very close' this week. Why?

It really seems poor all round.

P.s Saw DL interview yesterday - seems to be focusing on his bitcoin venture quite hard...what is it he is helping RRR out with again???