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There is a route a low share price could quickly happen here.

If the October CLN holders haven't already been paid in cash. If they haven't then they get shares at 0.06375p.

Seeing that price would sicken many.

Then simply Bell quickly follows it up by doing a big discounted placing.

Banbury, from my reading of that CLN RNS i think at Red Rock's cost a delay can happen. So after the AGM it's definately possible an RNS may be released to say the CLN holders are converting 15% below the December placing price.

I agree with you i don't see a multibag.

All will soon be revealed.

JFK I'm not going to deny that rampers love Lenigas. So you never know.

But how long will his shine last here?

I would imagine by April all 1.5 billion AGM shares would have been issued which would leave RRR with almost 5 billion shares. So even a RRR share price of 0.20p would be a £10 million market cap. With Red Rock's meagre assets i think that market cap is pushing it.

Then again this is AIM, so price wise anything can happen.

"You cannot polish a túrd" 🤔

Well that is clearly untrue because Red Rock has a bit of polish on it at the moment. 😂

Firstly i know some will moan "are you kidding me. You are bringing up an RNS from almost 18 years ago?"

Yes i am. 😕

I was looking at the interims from 31 March 2006 and the then and now Chairman Andrew Bell was giving shareholders a rundown of what happened in the first few months of trading on AIM for Red Rock.

"The half year to December saw the listing of the company's shares on the AIM market on 29th July 2005.

27,300,000 shares were placed at 2p per share to raise a net £476,000. With 141,860,000 shares in issue.

The stock price closed its first day of trading at 2.5 pence, valuing the company at £3.54m.

Between listing and the year end, the shares traded within the range 2.25p and 2.88p."

https://www.lse.co.uk/rns/RRR/interim-results-bwzhrico8j8tdv1.html

....

So now 8th Feb 2024, todays share price is 0.09p or around 1/11th of a penny. However at the end of 2015 RRR did a 25-1 share consolidation, so if we reverse that 25-1 share consolidation then this share price today would be around 1/275th of a penny. So with no share consolidation the share price today would be around 687 times smaller than the 2.5p it closed on its first day of trading.

...

If we also reverse the 2015 share consolidation then todays almost 3.34 billion shares in issue would become around 83.5 billion shares in issue.

So after its first day of trading Red Rock had 141,86 million shares in issue. With no share consolidation there would now be around 83.5 billion shares in issue. So that would mean around 600 times more share would be in issue than its first day of trading.

......

The absolute beauty of Red Rock that in a way makes it pure and incredibly easy for would be investors to determine whether Red Rock is a good company or not, is that Andrew Bell has been the Red Rock chairman and been in charge of running the company for all its 19 years listed on AIM.

So i come back to my subject question isn't it astonishing that even though this chairman as absolutely decimated this share price with his company decisions that 19 years on he still somehow remains in charge at Red Rock?"

Red Rock Resources Plc

Annual Report and Accounts 2023

VUP Musonoi Mining SA

" 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"), a wholly owned local subsidiary of the Company, 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.

The Company announced on 16 November 2021 that it had served an Ordonnance de Saisie Conservatoire (precautionary attachment) order on VUP and taken other measures locally to protect its interest in relation to this joint venture.

On 28 December 2021 it obtained an order from the Tribunal de Commerce de Lubumbashi against VUP in the sum of US$2.5m in respect of US$5m that had been paid to VUP in relation to a sale of the JV Project to which the Company had not been a party (the Unauthorised Sale).

Subsequently on 28 June 2022 an Arbitration was ordered in respect of a further US$15m due to be paid by the buyer to VUP pursuant to the Unauthorised Sale.

The Company continues to liaise closely with its advisors in country regarding the expectations for final ruling and settlement of this matter and expect a conclusion to be arrived at in early 2024."

I did also say RRR might have repaid the CLN holders out of Decembers £500,000 placement. Though that is highly unlikely.

I think Bell would have prefered the late payment option:

"Penalty Interest" means, in the event of late payment by the Company of any obligation arising under this Deed ("Default") an interest rate of 10% plus 1 % for each month or part of a month from the date of Default until payment"

Maidit forget about going after Glencore. Helpful is well known to exaggerate. Anyway i'm sure the Glencore subsidiary company lawyers made sure Gecamines owned all of the land before purchasing any land from them.

Read that Glencore RNS. Look at the date. Then read this Red Rock rns and look at the date VUP relinquished its licenses. The dates pretty much match. And yes looking at the Glencore RNS it looked a complicated deal with lots of land to purchase. But i believe around 2021 the sale was all sorted.

https://www.lse.co.uk/rns/RRR/drc-update-kvih1k4j4ptw47p.html

Banbury i had actually been looking at the 19 October convertible loan notes rns and because after the Dec 2023 £500,000 placing the cln holders were allowed to convert 15% below the 0.075p placing price...but they couldn't because RRR didn't have enough shares. Now unless Red Rock paid them off out of the December placing they may be able to all immediately convert at that low price after the 1.5 billion shares are voted through at the AGM.

I believe the below RNS says they would also get warrants 50% above the placing price. So 50% on 0.075p would be 0.1125p warrants.

https://www.lse.co.uk/rns/RRR/convertible-loan-note-issue-first-tranche-closing-qzek6lc9l9n9n0d.html

So i guess that may be a possibility after the AGM.

I see "news" as been posting a lot recently because i can see all my green filter messages popping up.

It reads:

"This message has been filtered, please adjust your filters to view"

Much nicer seeing that than seeing his/her big wall of writing. 🙂

Maidit no that's untrue. AB i'm certain made up those huge figures.

This is the Glencore RNS that explains the sale.

https://www.lse.co.uk/rns/GLEN/katanga-announces-agreement-to-acquire-land-rights-fv11cerfyb01a1p.html

The Glencore subsidiary lawyers would have made sure everything was above board before agreeing the land purchases from Gecamines.

Yesterdays RNS certainly doesn't look very formal. In fact it looks more gossipy than anything.

It talks about having a phone call, being tipped off to be on standy be on the ready. Then Bell says not one but a few of their spies confirm it could be true.

Then Bell says the country manager is having a some kind of meeting on Tuesday (today) but Red Rock shareholders won't get an update until next week.

It's not going to end well here.

Banbury, i think during the 15 June 2023 price spike i may have posted once during that day. Posters had their fun and the price spiked to intraday 0.28p. Then a few months later Red Rock as always non delivered and the share price was quarter of that price.

So today i will just watch with interest. 🤐

If another month passes and still no sign of the DRC money and some spiked investors complain "but what about that 5 Feb 2024 RRR reach RNS?"

Andrew Bell can say that the title of that RNS said: "DRC arbitration process continues", then he can say "i wasn't lying it is still continuing". 😆

They probably often release them. Like many others i didn't realise what a "reach rns" was.

If you scroll down on this website you will see them explain what a "reach rns" is and that a company can use one for market purposes. I guess you could say for ramping purposes.

https://www.shiftingshares.com/what-is-rns/

Yes as i said last night DDR's post on a "reach rns" was very helpful.

Hi Banbury, I've looked again at yesterdays RNS and again it just didn't impress me.

(1) Also seeing the Lenigas ramping tweet last night tells me he was behind yesterdays RNS. In his below tweet he said he knew the RNS was coming.

https://twitter.com/DavidLenigas/status/1754562808522355105

(2) Points 1 to 4 in the RNS were just repeats of what was said in the 24 Jan RNS. So repeat of old news.

(3) Bell says his country manager has been invited to a meeting on Tuesday (so today) but then Bell says he will update the market next week. So to me that tells me the meeting cannot be that important.

Also Bell used to say if the written arbitration judgement arrived then he would be on the plane to Congo and then sitting next to his bank manager waiting for any money to arrive. The "update next week" tells me that's not happening.

(4) Last nights RNS was a "Reach RNS" which can only contain non price sensitive news. A company can release a "Reach RNS" just for marketing purposes. So to me that suggested that Lenigas got them to release old news but dress it up in a new way.

(5) It also makes me very suspicious that Congo is supposedly concluding very near to next Fridays (16th Feb) RRR AGM. That seem way too perfect.

So based on that i expect next weeks RNS will say Tuesday meeting was very promising and the money is even more imminenter 😆. Then all resolutions will get voted through at next weeks AGM. Then probably within a couple of weeks a big fundraise will happen just to tide them over until the imminent DRC money arrives.

I fully understand i am in the minority and last night's RNS excited many people because they believe the DRC money is very imminent. They may be right i may be wrong.

News i have provided the exact Glencore RNS that details the land purchase from Gecamines.

https://www.lse.co.uk/rns/GLEN/katanga-announces-agreement-to-acquire-land-rights-fv11cerfyb01a1p.html

I'm quite sure the Glencore subsidiary purchased all the land legally from Gecamines and their legal team made sure that Gecamines officially owned all the licenses.

.....

By the way you are now filtered by me because your post layouts are an eyesore on my eyes. The way you lay a post out makes all your posts look the same. It's ugly to look at. It's like a big wall of writing. I can no longer tolerate looking at them. So from now you are on filter.

Panda the $400 million is what Bell and Helpful said. Bell never said it in an RNS.

Anyway it isn't true. Going by previous dates this the RNS when Gecamines sold to a Glencore subsidiary.

https://www.lse.co.uk/rns/GLEN/katanga-announces-agreement-to-acquire-land-rights-fv11cerfyb01a1p.html

The poster DDD on the other forum made a good point that tonight RNS was a "Reach RNS". Correctly he said a company can only release non price sensitive infotmation with a Reach RNS.

Another website says:

"RNS Reach is an extension of RNS and delivers non-price sensitive information. It is used by companies to keep in contact with investors and can include marketing messages"