Member Info for zumore

booboo, in regards to the warrants i think i caused the confusion with my earlier posts. I clearly understand now. Fridays RNS said: "£500,000 of warrants into Red Rock shares at a price 20% above their average closing price on the three trading days prior to issue" ... So if the Kenyan licenses are reissued or renewed then RRR would give Kansai £500,000 in warrants 20% above market price. So a then 0.90p RRR price would mean the warrants would be 20% above that at 1.08p. Then in future if the RRR share price was healthfully above 1.08p then Kansai may pay RRR £500k to convert those £500,000 RRR warrants into RRR shares. In completely misread the warrant part of the RNS when it first came out. So sorry about causing the confusement.

Thanks for answering my earlier questions Andrew. One small query about Steelmin. We know the percentage RRR own in Jupiter and also how many shares they own in Jupiter; but with Steelmin we only know 22% is owned by RRR. Do we know exactly how many Steelmin shares RRR own?

If Moscicki didn't honour his side of the coal deals then i'm puzzled why haven't you tried to retrieve some of the money RGM invested with him? Thanks Mr Bell

Mr Bell i've posted that question on the RGM forum.

"If Moscicki didn't honour his side of the coal deals then i'm puzzled why haven't you tried to retrieve some of the money RGM invested with him?" Thanks Mr Bell.

Thanks Andrew. That answered my first two questions.

Helpful, i don't need you to answer the question. I know exactly how warrants usually work because the company will receive the warrant money when the warrant holder converts them into company shares. But i think there was uncertainty how they were laid out in yesterdays RNS because these "warrants" neither came with CLNs or placing shares. And they would be converted at a 20% premium and seemingly all at once. All i want to know is if the £500,000 for warrant conversion would be paid by Kansai?

If Moscicki didn't honour his side of the coal deals then i'm puzzled why haven't you tried to retrieve some of the money RGM invested with him? That was my last question. Thanks Mr Bell.

So i will ask the question about Stephen Moscicki. Why is he to blame for RGMs coal investments with him during 2016 and 2017? Surely you are the captain of the RGM ship and any RGM investment decisions are your responsibility?

I'm trying to ask non price sensitive questions. I don't think i have.

(1) You do seem to take great risks investing in undesirable countries. For example for many years Kenya was in the bottom 3 of the most uninvestable places in the world. Likewise many other companies wouldn't even consider investing in Congo. I do understand great risks, great rewards but isn't the risk too great for smaller companies to invest in those countries?

(2) Is Red Rock's 22% stake in Steelmin a set in stone 22%? Which means if Steelmin raise further funds can Red Rock's 22% in Steelmin get diluted?

From yesterdays RNS "£500,000 of warrants into Red Rock shares at a price 20% above their average closing price on the three trading days prior to issue" ...... I was confused about the warrants in yesterdays RNS because normally they would come with placing shares or CLNs. If the Kenyan licenses got renewed or reissued and you made those payments to Kansai would RRR be giving Kansai free shares? So Kansai wouldn't have to pay RRR £500,000 but you convert an imaginary £500,000 in warrants into RRR shares and then give them to them? That is a serious question because yesterdays RNS was confusing because why would they (Kansai) pay to convert £500,000 in warrants into RRR shares and pay 20% above market price, to receive basically £400,000 in RRR shares?

Would you like to do a question and answers session Mr Bell. On this forum?

Name the poster and the post that offends?

Helpful. Which poster and post has upset you?

"A lot of ranting there Zumore" .... Too right MrMagic, I've read thousands of your post over the years, and you've probably read thousands of my posts over the years, and without doubt boring for Britain and ranting is my biggest flaw. After all i could've probably fitted everything i wanted to say in just one post, but i keep going on and on and on. A bit like the Morecame and Wise sketch "i'm playing all the right notes...but not necessarily in the right order" ; with me "i'm saying all the same words..but not necessarily in the same order...but basically i'm repeating the same post over and over again". without doubt it pretty tedious. Onto your points about Congo and Kenya, yes i agree with you. I know poster "Helpful" thinks fellow PIs will absolutely love both projects (he/she is entitled to his/her opinion) but i think both would devastate the RRR share price because both would require vast sums of money and let's be honest both projects are in undesirable places in the world. Onto another rant, AB will often name drop these big company's that do well in these difficult countries but i think he is incredibly naive thinking a minnow like RRR could also thrive. I guess an analogy would be a big rich star (a big rich company) could walk to the front of the queue and in turn gets let in. The poor minnow who thinks they will get the same treatment is in my opinion pretty delusional. Enough of my ranting

My last view on yesterday RNS because it is pretty pointless of me talking about something that is very unlikely to happen. But if these Kenyan licenses were renewed or reissued then i'm sure Red Rock Resources would quickly end up penniless and then with all the further monetary commitments to quickly progress the Kenyan asset, if they recklessly decided to do this then i'm sure they would quickly get themselves millions in debt. I personally think it would be reckless to the extreme and devastate this share price.

yesterday didn't sink the RRR share price because if the Kenyan licenses were renewed or reissued i'm quite sure few expected that RRR would have to pay out all these millions. So that couldn't have been seen as good news? Also that ominous extract from yesterdays RNS: "will within three months make further payments, SUBJECT TO RENEWEL OR REISSUE NOT BEING ON UNDULY ONEROUS TERMS, as follows" ........ Clearly that is extract is nothing to do with yesterdays payments to Kansai but it means that the Kenyan mining authorities may only reissue or renew licenses if RRR are willing to spend many many millions on quickly progressing the Kenyan asset. So if RRR promise to do that then like i said yesterday it could being an impossible nightmare for RRR. Then if they cannot fulfill their commitments then the Kenyan mining authorities will simply take away licenses: they giveth back and they taketh away. So on this occasion bluffer Bell may promise the world to the Kenyan mining minister but it could easily be taken away a few months later. I personally don't think RRR will get any licenses back because if they were to say "we will look for a rich partner or we will look to sell them on" then no chance the Kenyan mining authorities will give them anything back because from past readings the Kenyan mining authorities absolutely loathe foreigners snapping up assets and just sitting on those assets looking to resell them on. So if you haven't got the money to progress the projects on your own then you won't get them back. And if you bluff to get them back then they will quickly get taken off you when the Kenyan mining authorities realise you are bluffing. So yesterdays news wasn't good news.

RRR & RGMs financial years end each year on the June 30th and i have noticed in many years that money events always happen in the month of June. I've always believed it is to confuse things about the money. So when the end of years reports come out in November it always makes it extra difficult for PIs to work out what happened to the money.