Member Info for thegame316

He clearly is devastated that he got this share wrong and sold out too early. If you look at his posting history it is so obvious that it's pathetic. He went from posting under STRONG BUY when he was in, to a STRONG SELL when he sold.
We are all entitled to our opinions but when he is someone that has got this wrong and is now trying his hardest to get the sp down. If he had the conviction that he claimed he had back in April then he should have stayed in for the ride. At £3 when he sold he started his deramping posts and so far everything he has said is......can't really say the word but we all know what that word is

even short term this will do good. Should mhit £32/34 in the next few weeks

I agree. Better to load up now and wait for it to re-open. Similar to what is happening with retail stores opening if there is a spike in footfall due to pent up demand then the sp will go beyond £1. I've in at 80p so got my fingers crossed but there is more upside here then down

just another in a long line of excuses/rns's to justify a six figure salary. Has AB EVER done anything that has actually added value. There is the Kenyan goldmine that has been over 7 years and jack all has been done. El limon was sold for peanuts as in their own words they were not capable of running it. Jupiter is just a share holding which any common investor can buy into. Greenland was just all smoke and mirrors before being put into a medieval prison. Ivory Coast project is going the same way as the Kenyan project and now its time to pretend that AB is busy developing the DR Congo mine when in reality he starts each day at 11am by spending a couple of hours on social media. If he actually did any work then the sp would be multiples of what it is now.

This can only mean one of two things. Either AB is a conman who is knowingly fleecing investors in a legal manner or he is severely stupid and incompetent. I will let this board be the jury on how the last 5 plus years have panned out.

and this is the reply i got back on 17/04/2014

Thank you for your email.

I cannot comment on your note regarding the Greenland deal, as that would be price sensitive. However we would not have held back any relevant information, so you can be sure that we announced instantly. It is not correct that the investors ‘would not be able’ to complete the transaction. It may very well occur. Of course we have been talking to other parties, and this effort has naturally stepped up a gear.

Regarding the Ivory Coast…What Red Rock does best is add value to assets via exploration. We need new projects for our pipeline………….and it is 3 or 4 years since we had one. We are aware of course that shareholder sentiment hasn’t always been good during the last year or so due to the lower share price, and we have tried our hardest to improve this. Unfortunately many things are out of our control. We had a well-founded expectation that the Greenland deal would complete. And of course it still might. But in the absence of an assurance on this, we cannot stop all activity and wait for a deal to complete – particularly in a market such as this which can see transactions move extremely slowly.

We have to keep the business running, keep doing what we do best, and continue to improve the quality of our portfolio. Colombia is in good shape, with further exploration work planned. Kenya is in the latter stages of exploration. Adding further value to these assets is a slower and more capital-hungry process than taking on something new where we can add value relatively quickly. I guess you could say it’s like insurance for the future. People are anxious to see the share price to go up in a hurry – I’m not sure when or whether that will happen, but by increasing the number of ways in which our share price could possibly be given cause to go up, then that is in the interests of our shareholders.

As to the issue price of shares, all is relative. Before Jupiter delisted we issued shares – at 0.66p – for nearly 8m Jupiter shares at 5.6c. The RRR price has halved. The JMS price rose 45% before delisting. And the published NAV is 21.3c now. so was it good to issue RRR shares so cheap? It seems so.

Likewise, if the assets we pick up are really cheap – because of the market – then it is all right to issue shares at today’s market price. There is no dilution in asset backing.

I hope this helps to answer some of your concerns over the Ivory Coast project.

Kind regards,

Natasha

this is the email i sent on 08/08/2013
I hold just over a million shares in your Red Rock after buying in on 06/08/13. Can someone please explain why more shares were issued despite a deal being only a few days away which could lead to the share price going over 1p. Surely it would make more sense to place more shares then. As one investor on a BB board put it :-

"Like I said, it's going to cut no ice at all with genuine investors here. They've just been mugged. Why would we need to raise funds if either of the deals were really about to happen. Lost count of how many times we've been in this situation."

As a new investor who is willing to hold onto shares for the medium to long term i would be very grateful if you could reassure me that this is not another attempt to get money from private investors to pay executive wages aka working capital. I really would like a reply as I am beginning to think it was a grave mistake in investing here.

cannot use the word i wish i could to describe this so called company but how can anyone justify buying shares in this. What has AB ever achieved other than pulling the wool over peoples eyes. i can remember years ago when i believed in the Greenland hype and was under the impression that the Migori mine was this huge opoortunity that RRR were desperate to develop. Then all of a sudden AB announced a huge placement for the ivory coast permits.
I kept thinking why would AB heavily dilute just to start a new project. Surely it made sense to focus your energy on existing assets, get them proved and development initiated which would then lead to mcap increasing. And then when the mcap was in the tens of millions then do a fundraise so the dilution is only a few % instead of raising half a million when the mcap is £2M.
I actually sent an email to RRR to voice my concerns. if i still have it i will post it here for people to make their own judgement on if this is a company with wants to look after its shareholders or if its just a lifestyle company for AB

i'd say it will go down to 0.01. Can't see why anyone thinks this is a long term hold. It's one of those get in low and sell on the next mini-spike shares.

Fair enough there is some upside but just to give a balanced view, at the end of June PREM had $1.2M in the bank and admin expenses alone are close to $3M a year. Factor in further exploration costs and there will be a need for further dilution soon. The sp could multibag in the near future but it is just as likely if not more that it will fall back to previous lows and GR will have no hesitation in issuing another billion or two in shares to raise further funds.
The main danger of investing in this share for the long term is that the company could eventually be worth £50M plus, but whats the use if by then you need the value to be closer to £500M just to breakeven as many longterm holders (pre-consolidation) will confirm.

" I would say another 3-600%+ at least from current levels"

Just out of curiosity, what makes this company worth £30-60M, especially given the level of dilution that has occurred in the last 12 months and the dilution that most likely will occur given the BOD past track record.

Jamesfinlay26- good luck with getting out of this. Just wait for the spike, it will come but predicting when it will occur and calling the bottom is the tricky part lol. Personally think the sp will fall to around 0.5p and will spike to just over 2.5p. After that it will be 0.2 to 1p, then 0.1 to 0.5p then another share consolidation. Would add lol at the end but this is my honest opinion. Basically can see the mcap falling to the £1M mark then spiking to £5M. Can't see why anyone would invest at a mcap of £5M considering there is little to no value in the company at present. And whatever value that can be argued is negated by the never ending dilution. Can't wait for the rampers to post now. I'll probably be accused of being paid to post, or trying to get myself a low price to buy in lol.

Lab testing was supposed to be done in Q1 2017 but was released in Q2. That's not too bad but ACP have also stated that they intend to increase the resource and commence pre-feasibility study in H1 2017. Doubt this will be done until late 2017 but will give benefit of the doubt. What I'm more interested in is the previous comment that once European testing comes back as positive, which according to today's RNS has happened, then they will make it a priority to start securing MOU's with potential European customers. The sp will not move on testing the samples. The market, by which I mean the average small investor, has wised up now and will not fall for the same shenanigans again. What's needed is clear progress and and a serious attempt at showing that the bod intend to create value from this latest play. This will only be possible by showing that they are working hard at getting a third party to buy the graphite that they will eventually produce. Anything else is just codswalllop.

When the sp can't even spike on a so called excellent RNS. Can see the sp drifting towards sub 1p in the next few weeks as there will be further updates for a while and most small investors are not prepared to buy in now when there is so little upside but there is certainly a lot of downside left. Firstly there is the constant danger of another significant dilution looming. ACP have stated they are fully funded until H2 2017. You can naively think that this could mean that they have the cash to last until December but most know this means there will be another placing coming up in June/July. Secondly the pace of progress is extremely slow. They are still in the testing small sample phase despite having started this project about 9 months ago. This wouldn't be much of a concern if the bod deferred their wages or setltled wages in shares but when they still want their 5 figure wage in cash at the end of each month then you would expect them to maybe pick up the pace a little unless their motive is to ride the gravy train for as long as possible. And thirdly the combination of the above 2 means that even if they do manage to prove up a massive resource and get the mcap into the tens of millions that doesn't necessarily mean a sp of 10p+. The sp will depend ultimately on how many shares are in circulation. If someone had invested at 0.1p pre-consolidation, they would need the sp at 15p now to break even or a mcap of around £75M. So even if the company had done everything that they said they would over the last 3 years, due to the severe dilution it would not generate any financial return to a lth. As it stands ACP have not created any value at all over the last 3 years, they have done the exact opposite of destroying 90-99% of any long term investment that any poor sod has put in

Is that there is no significant reward for stgr. Its basically £8M no matter how well bass do with graphite production or if graphite prices go through the roof over the next couple of days. Stgr gets $8m of shares in bass once production hits 1500tonnes over 3 consecutive months and then 2500 tonnes over the next 3 months. But the shares issued will be the average over the previous 20 days. If and when this does happen then it is most likely that bass' s sp will be significantly higher and will reflect the current production rate of about 800-900 tonnes per month or 12k tonnes a year. For stgr to make a significant return they would need bass to increase production further so the sp goes further. would have been better for stgr to have agreed a fixed prices for the shares that they are going to get in the future at least this way they would benefit from any upturn in the future graphite market. This is a risky share though. At current sp it is obviously undervalued if you take a long term view but on the other hand if you take a long term view then you also have to factor in the constant dilution that will also occur. In 3 years the shares in issue have tripled so would be fair to assume in the next 3 years it will at least double

Touch wood this is a premonition of whats going to happen once we take AMI's criminal bod to court.....

Bottomed out at 0.22p a few min ago and is now steadily rising. If this clears 0.3p then this could go far.

Paid 0.265p. Hope i dont get spiked, but got a feel this will fly today....

Have just sent proof of my shares, was a painfull experience looking at it but done and dusted. Am also happy with £150 contribution. If you havent already done so please send proof of holdings and lets take the theiving no good scums to court.

http://applebys-law.co.uk/professional-negligence/index.html?gclid=CJ3wmdjEj8QCFfQatAodRBsACw Maybe worth a go, just to see if they will take us. Would prefer if someone who is a bit more articulate and can put a strong case forward for us to give them a ring, but if not I'll give them a call. Even if they say no, theres plenty more firms out there. We all know whats going to happen, why wait for the final nail in the coffin...lets start the fight now!