Member Info for zumore

Interviewer:

"What about the warrants Andrew? There are concerns that the price of these isn’t appropriate for the directors and should be geared more towards a performance incentive"

Andrew Bell:

"To be perfectly frank, this isn’t something we had considered before you mentioned it, but it is something I take on board. The reason we originally included the warrants was that when we started working on this placement a month ago at a higher price, we were conscious that people had participated in a placement in March. The warrants served to make participation in the placement more attractive, and directors were part of the orginal placing. Even though we ended up switching broker to obtain a better price after our original pricing was overturned at a late stage, because we had originally made the offer of the warrants as part of the package we weren’t in a position to withdraw that."

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Interviewer:

"Despite putting the equivalent of a year’s net salary into Red Rock, there remains a great deal of public criticism directed at the company and you personally. How do you respond?"

Andrew Bell:

"It’s my responsibility to face it. I don’t agree with some of the points that are made, but do agree with others. Where possible I have acted on the sensible suggestions our shareholders have made.

In terms of what is said on social media, of course I am aware of it, but it is a distraction. Typically, I find that these “Twitter storms” tend to stem from one or two individuals and they can appear more intense than they actually are.

Take our conference call as an example. The number of people who listened to that was, as usual, far greater than the number who asked questions. This suggests to me that there is a constituency out there of investors who are listening to what Red Rock has to say, and some of these people write or cal privately and in a very balanced way . It is my role to communicate with that constituency too and I am equally accountable to the discreet as to the noisy.

We’ve spoken already about my salary waiver and how much I invested into Red Rock on Wednesday, but we as a company have also taken significant steps in reducing our overheads. I have gone on record previously to explain those and am more than happy to take questions directly at Zak’s event on Monday.

As a policy we try to make ourselves as accessible to our shareholders as we can. We endeavour to answer emails within 48 hours, though there are occasions when it is not possible to reply during periods of intensive work. We also welcome shareholders to come and visit us at our office. We ask that people give us a little notice, but if we try to be as accommodating as we can in inviting people to meet us face to face."

I'm sure he's fibbing about that years wages. 😆

Interviewer:

"Andrew, you’ve faced a lot of criticism for participating in this week’s discounted placement. What do you say in response?"

Andrew Bell:

"Both before and after the placement we received a large number of calls and emails from shareholders asking why the directors were not buying to send a positive signal if the price was cheap. We replied that while we were insiders we could not, but some of us had an intention to buy when permitted.. The consensus seemed to be that if we were to participate it would have shown our faith in the company. We listened to this and accepted the argument.

I subscribed for £26,250 worth of shares, the equivalent of one year of salary payments net to my account from Red Rock, but no sooner had we put the RNS out, than the tone of public comments shifted. Suddenly I found myself facing a great deal of criticism for having participated at such a low price.

This has felt like a case of being damned if I do, damned if I don’t.

I understand that shareholders are not happy. Really I do, but we have to be realistic. Previously some shareholders have said I should pay myself less, to reflect the company’s position. I’ve listened to that and responded by significantly reducing my cost to the business. Now that I’ve done that I find that there are questions asking why I have not bought more shares."

Interviewer:

"OK Andrew, but there are questions about the price of the placement and how appropriate it has been for you and your directors to participate at this level."

Andrew Bell:

"Again, I understand shareholder frustration. The price of the placement was not ideal, but in this market it was the best we could do. The price we were originally offered was even worse, so we shopped around for an alternative. Our original placing agent agreed to this and we moved to Dowgate, who had the best offer we could find.

The alternative was not to accept any new funds into the business.

Red Rock is going through extremely tough times. There is no escaping this fact. We are fighting for the time and space to allow the value of our assets to mature, but that is something we have proven we can do. At this stage in the market’s cycle for companies like Red Rock survival is key. This might not be something some shareholders want to hear, but the alternative is to become a passive cash shell. While some might prefer that, I believe that by maintaining an operational function we preserve our assets and can remain active in the market, so that when conditions do improve we can take advantage of this."

In terms of the price of the placement and our participation in it, we chose to participate with personal funds. As directors, we achieved the highest price for the placement that we could. As individuals we paid the same that other placement participants did. Is anyone suggesting that we should have paid more than the market is prepared to pay?

There are some comments that we should have bought in the open market, but how would that have helped the company?

Through participating in the placement, we have increased the company’s cash balance, at a time it needs it the most."

Yes i agree.

Helpful, Madeit, News + Hawaiifive0 are all FANTASISTS.

Helpful even posted a link to the latest Tin price the other day because the Tin hill Lithium asset used to be a Tin mine.

The other day Helpful yet again posted another "Mako Gold" link. This link showed a Mako Gold video where they were showing some Manganese sampling. Red Rock no longer have any connection to Manganese.

Helpful seems to have done hundreds of posts on Mako Gold and i'm sure many looking in probably wrongly think Red Rock have some joint venture with them or own some share ownership in them.

So apart from Mako Gold, Helpful makes other misleading RRR posts on other subjects too. Then the poster "News" innudates this thread with mostly overlong gobbledygook posts that make no sense. Then their is Madeit who seems to be in Cloud Cukoo Land with his RRR posts.

Those 3 combined have made almost 1000 posts on this RRR thread these past 30 days.

I would argue with their often chaotic often misleading posts they actually damage this share price they certainly do not help it. They have turned this thread into an absolute mess!

Of course only my opinion. Some may think they are wonderful.

Without that 25-1 share consolidation of a few years ago Red Rock would now have over a 100 billion shares in issue. 😳

Maidit.

Nobody forced Andrew Bell to do a big discounted placing. He LIKES doing placings.

I recall years ago his pal Winnifrith was attacking another company and Andrew Bell made a post on shxreprophets and he called people who defended companies on share forums as "useful idiots"

So Bell thinks you are, he definately thinks "Helpful" is, he thinks "news" is.

Hawaiifive0 is one of Andrew Bell's biggest "useful idiots" because he tells people the share price is falling because of shorters. Not useless Bell!

Bell must love that. He use to criticize Bell but now he's just behind "Helpful" as Andrew Bell's most loyal defenders/excuse makers.

This reminds me of one of those TV shows like "undercover boss" when they find out how people treat them before they discover who they are.

I'm sure i've always been nice to Ajaye. 😇 On the otherhand i recall "Helpful" being clever rude to him, then of course "Maidit" today.

They will probably start being nice to him now. I would say "Stick it!" 👺

You are so rude Maidit!

Have you ever thought about looking at the 15 December RNS?

Ajaye that was a bit rude of him. Afterall you were praising his post.

Throughout the years Andrew Bell has often picked assets in countries that are dangerous or riddled with corruption and you often think "why on earth did you go into that country? Something is bound to go wrong".

Then the other day he tweeted about Burkino Faso. Saying that other companies wouldn't go there. Also proudly showing off a map showing that the country is a total no go zone:

https://twitter.com/ABell2019/status/1776317419478220931

His follow up tweet says "Ivory coast, DRC too".

From that tweet i presume he's saying that most UK companies wouldn't go there either.

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So if you often wondered why he gets assets in corrupt or dangerous countries, now you know: HE IGNORES THE FACTS!

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So if something inevitably goes wrong in Burkino Faso (which it will!) please don't say "poor Andrew!" "RRR are being mistreated" "nobody could have forseen that happening". Of course you can forsee something going wrong because he ignores the facts.

Andrew Bell in my opinion is an utterly useless Chairman. He is totally incompetent. How on earth after all these years does such a hopeless waste of space still remain in his job at Red Rock?

Banbury to follow on from your post, this is the far fetched garbage "Helpful" (or Lundy) posted on this thread in October about the Chinese meeting. Bear in mind mining majors wouldn't be capable of these huge numbers let alone a tiny company like ALR that had done no drilling or had no equipment.

He just says anything to try to sucker people in.

"Helpful's" post from he 12 Oct:

"Note meeting the Chinese in Dubai is after they have had the meetings in Zim and finalised their plans. Also note he refers to partners and taskforce RRR, sounds like a lot people involved. Could it be that they have partners for each stage?

Could it be that you are wrong about ALR? Why would Chinese buyers want to meet up about ALR if as you say there is nothing there. Presumably the Chinese buyers wouldn't be interested in meeting up to talk about a few thousand tonnes of spodumene. How much supply would ALR have to indicate to get the meeting in Dubai? 1mil tonnes or more? 5mil tonnes or more?"

Yes just another "reach rns". For those that are unaware a "reach rns" is an rns that doesn't contain any price sensitive information. So they are released just to try to promote the company.

From todays promotional rns:

"Our understanding has not changed, and as we believe that there is now a consensus in relation to our position, we expect this to now be resolved"

"EXPECT" is more a word of hope than anything

"irrespective of any third party matters, within a short timeframe."

So i assume that means third party interference. So not good.

" Recent intensive and direct discussions with the former JV partners mean that we may be able to approach the arbitrator with an agreed position."

And of course nothing certain about the words "we may". It could easily be "we may not".

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To add to the above. In yesterdays interview Bell said:

Bell interview regarding money:

"The state mining company Gecamine, represented through its legal councel, stood up at the first meeting of the arbitration and undertook on behalf of Gecamine, that they would pay and pay promptly in accordance with the arbitration"

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Like i said yesterday i was astonished that since the arbitration in the summer of 2022 Red Rock have not met Gecamines to seek reassurances the money being paid. How can somebody have any confidence about receiving money from somebody if they haven't had any contact with them for almost two years?

I'm in agreement with others with yesterdays unexpected interview i'm expecting a big fundraise very soon.

News i hope you don't mind but i think i might put you back on filter. 😕

I've had you off filter for a few days and you've absolutely exhausted me. 😔

I think i recall somebody saying you are well over 80 years of age. I must admit the stamina in your fingers at your age is amazing!

Another thing. They say reading too much text at once can cause baggy eyes. So you are atrocious for the Red Rock thread readers looks. 🥲

So i have no alternative. You are now back on filter. 🤠

Sorry spelling errors. So i'll post again.

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Ok good luck! Pile in further.

I'm amazed in all these DRC meetings in subsequent years since the arbitration that Red Rock or its representitives seemed to have had no meetings with Gecamines. Instead Bell's confidence on receiving prompt payment is based on something Gecamines Legal councel said at the arbitration a few years before.

Ok good luck! Pile in further.

I'm amazed in all these DRC meetings in subsequent years since the arbitration that Red Rock or its reprentitives seemed to have had no meetings with Gecamines. Instead Bell's confidence on receiving prompt payment is based on something Gecamines Legal councel said at the arbitration a few years before.

Bell interview regarding money:

"The state mining company Gecamine, represented through its legal councel, stood up at the first meeting of the arbitration and undertook on behalf of Gecamine, that they would pay and pay promptly in accordance with the arbitration"

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Do we believe Gecamines? Bear in mind that arbitation was way back in the summer of 2022.

Google about Gecamines and they have an atrocious reputation. Also bear in mind VUP had begun to bring legal proceedings against Gecamines because they hadn't received the same promised $15 million.

I'm certainly not as confident as Bell.

You are a shocker Helpful!

Apart from being a c*nm*n you are always trying to exonerate by shifting any blame from dodgy Bell.

From 18 Dec 2018 RNS:

"The joint venture parties have organised a local company, Musonoi Mining SA, to be owned 50.1% by Red Rock and to hold the joint venture interests of the parties"

Bell seems very sloppy when it comes to partner contracts.

Even in the DRC they originally agreed to set up a specially formed company (VUP musonoi mining SA) so they could put all their joint venture assets into it but VUP backed out of it:

From 2023 Annual accounts.

"On 28 February 2019, Vumilia Pendeza S.A. ("VUP") and Bring Minerals S.A.U. ("B.Min"), and Red Rock Resources Congo S.A.U. ("RRRC"), signed a “Joint Venture Agreement” and B.Min and RRRC signed the "Statutes of VUP Musonoi Mining SA" ("VMM S.A."), the joint venture company (incorporated in the Democratic Republic of Congo) through which the JV Project was to be pursued.

The Statutes were then taken by the lawyer to procure the signature of the correct officer of VUP.

RRRC owns 50.1% of the Joint Venture and was to own 50.1% of VUP Musonio mining SA. The Company sent the registration costs of VUP Musonio Mining SA twice, but the lawyer failed to register the company.

The governing document of the joint venture therefore remains an unincorporated joint venture under the Joint Venture Agreement"

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Although no proof on my behalf i suspect because VUP backed out of putting the assets into a specially formed JV company that this gave them extra confidence that they owned the Musonoi license, especially so if Red Rock's name wasn't even on the Musonio license.

Like i said that is only an hunch by me. I do not need 10 posts from "News" questioning my post.

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In Red Rock's JV partnership with Sam Mahendran in Burkino Faso, Zimbabwe, Ivory coast. Andrew Bell says nothing is written down on the partnership, it is just a gentlemen's agreement built on trust. So Red Rock's name (and not Sam's name) will be on all the licences. So if that's how Bell does things now then that is probably how he has done things previously.

If i am correct about the Musonio licence and Red Rock's name not being on the license, then you can see how easy it was for VUP to surrender the JV licences without Red Rock's consent.