Member Info for zumore

When today's RNS says: "In accordance with the provision of the Disclosure Guidance and Transparency Rules"

I take it they are joking about transparency? The shares issued today were around 6% of the total RRR shares.

And we have no idea on what terms today's RNS debt repayment were; also no idea who this individual/ individuals are.

Poster 'Helpful' posted on Tuesday 29th April, after Andrew Bell and others had given themselves free shares:

"The ultimate buy signal. If they are placing, why not wait?"

Maidit says: " Issue at a perineum ? things are looking up''

......

PERINEUM meaning:

"The portion of the body in the pelvis occupied by urogenital passages and the rectum, bounded in front by the pubic arch, in the back by the coccyx, and laterally by part of the hipbone.'

(2) "The region between the scrotum and the anus in males, and between the posterior vulva junction and the anus in females."

I can't recall that blog from that other Dan.

Though I wasn't around back then I recall reading the RNS's on Ascot mining and Bell's mate Tom Winnifrith was running some share tipping company and from the RNS's he seemed to get Bell to invest a lot of RRR's money into it.

But within months Ascot mining was finished and the RRR money was lost.

Probably that's why Winnifrith never goes too hard on RRR.

Did Stephen give you a ring? 😆

I suspect Sam and his Geologist Willem Smuts also had trust issues with Bell.

The alarm bells should have been ringing when in a Stockbox interview Bell was saying they owned the FASO licenses and if they wanted they could say, thanks for your help but we own the licenses, now p*ss off.

Bell said something like the above ^^^. Then he said but of course we wouldn't do that.

After he said that I would certainly have second thoughts. On top of that Sam and Smuts wanted to do things on a big scale. Bell didn't.

Bell can't say they were held back with projects because of the DRC money because receiving anything was in my opinion always a longshot. So he should have run RRR with the viewpoint that recieving any DRC money was remote. 👍

Forget my last post.

I don't want to talk politics. 👍

Specinvestor

You must be happy, that your boy Carney won the election? 😁

Banbury, it's amazing they do it year after year. They are shameless.

Whoops I didn't see Banbury posted a link. 👍

So it's something like get £9,000 in RRR shares. But they only spent £1,800.

I say it most years but SHAME should be their incentive, not free shares.

Here's an old RNS to explain how it's worked out.

I believe the dreaded Scott Kaintz is still on the pay. So he won't be missing out.

https://www.lse.co.uk/rns/RRR/incentive-plan-share-issue-directors-dealings-vlhfwt9fvviswp0.html

It still looks the same rate.

(1). No matter what they all get £3,600 in free shares

(2). Then they get two free shares for every RRR share they buy. So if over the year they bought £1,800 in RRR shares, they would get an additional £3,600 in free shares.

Lol Helpful you used GROK loads of times on here!

......

Robins, here is my post from 4th April last year. Think of the set up Joint venture companies like ALR and FASO. When the assets are enclosed in them there is no squabbling who owns which licenses.

Here is my post from last year:

Bell seems very sloppy when it comes to partner contracts.

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

Extract from the 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"

Specinvestor a company can own 50.1% in a JV partnership. That doesn't necessarily mean there are any licenses in that JV.

If DRC company VUP were the licence holders but they pulled out of setting up a special JV company to put the JV licenses in. Plus that extract from the 2018 December 2018 RNS: "A further $250,000 payment will be made upon completion of remaining documentation, which is expected early in the New Year"

If Red Rock also didn't pay the $250,000 then I can see why VUP might have thought Red Rock had no right to the licenses.

Of course later on Red Rock proved those licenses were part of the JV and they were awarded their share of $5 million plus damages.

In a way Andrew Bell should be grateful to VUP because it is preposterous to think that he could have got any better than the $20 million compensation.

To be rampy, it's a longshot but there is still a slim chance RRR could get a share of $15 million. 👍

Lastly, Specinvestor the other month told me that it was proven in court that VUP surrendering the JV licenses back to Gecamines was illegal. But that isn't true.

For example in the 6th January 2022 RNS: https://www.lse.co.uk/rns/RRR/drc-update-kvih1k4j4ptw47p.html

Bell says:

"We are glad to have received further vindication of our position in the Payment Order from the Court which we announce today"

Red Rock had proven that the licenses were part of the JV and the civil hearing instructed VUP to pay RRR their share of the already paid $5 million.

A week or two later Red Rock were awarded costs and damages.

Then the June 2022 arbitration was all about RRR trying to get a share of the $15 million.

So if VUP surrendering the JV licenses back to the DRC state company Gecamines was actually legal. Then what concern is it of Red Rocks what Gecamines did with the JV licenses afterwards?

Nikeair, if you found those interesting you will probably find the 19/12/18 RNS interesting. https://www.lse.co.uk/rns/RRR/cobaltcopper-joint-venture-congo-f88l4cfmh81humj.html

Like in the March 2019 RNS it talks about the JV partners setting up a JV company to put the JV assets in.

But the JV company never actually happened. So I guess you could say the licenses weren't enclosed protected in the JV company instead they were floating in limbo.

The same 19 Dec 2018 RNS says: "A further $250,000 payment will be made upon completion of remaining documentation, which is expected early in the New Year"

......

However read the RRR 12 Oct 2020 RNS and documentation problems still persisted:

"Red Rock Resources Congo SAU's lawyer has been resolving longstanding issues that had arisen in relation to partnership matters, as well as documentation and registration, and the Company is now in a position to appoint an in-country manager and establish a physical office"

Andrew Bell comments later in RNS:

"The Company rests on a powerful tripod of interests whose value is becoming less speculative and more real. Kenya is restored since August and granted, an NI 43-101 report has been produced for the Australian assets which leaves no doubt as to their potential, and in the Congo we have defended and even advanced our position with apparent success, and so are now in a position to deploy funds into the country with confidence.

Two of these three businesses - Australia and Congo - are new, in the sense that RRAL has acquired its interests since lockdown began, and that the outcome in Congo looked uncertain and even perilous just weeks ago, so that we were unable to speak of it with any confidence"

.......

Because DRC state owned Gecamines held the Musonoi licence immediately before they would have known who they had to deal with to get the licence back. That VUP pulled out of setting up a JV company and also Gecamines dealt with them to get the licence back tells me VUP held the licence.

......

Nikeair, yesterday you said that you found both Red Rock RNS's dated 06/03/19 and 06/01/22 interesting. Yes I agree with you both RNS's are very interesting. 👍

Nikeair, may I ask you a question, are you less harsh on the JV partner VUP than some are on this thread? After all in the 6 Jan 2022 RNS it says JV partner VUP agreed to $20 million compensation for surrending the JV assets to the DRC state owned company 'Gecamines'. The RNS called this a "Amicable Termination Transaction Protocol".

Nikeair, the DRC state clearly wanted the licenses back so what other choice did VUP have?

(1) Refuse to surrender: then the often corrupt DRC government would no doubt have found an excuse to revoke licenses. So no compensation that way

(2) Refuse to surrender: then when those JV licenses were up for renewal there would be a pretty big chance the licenses wouldn't get renewed. So no compensation that way.

(3) Agree to surrender: in return for compensation.

In many countries including DRC it would be very unwise to disobey a governments request. For example countries like Russia, North Korea, China.

I seldom agree with 'Helpful' but in the past he said that VUP made a big mistake in trying to get the additional $15 million compensation by attempting to take Gecamines to court. He said the DRC government would see it as an attack on them.

I recall in a Stockbox interview a year or so ago Bell saying the VUP owners now live in Dubai. We can draw our own conclusions as to why they now live in Dubai.

So Nikeair what's your honest take on it. What other choice did VUP have, than obeying the DRC states request and surrendering those JV licenses?

Nikeair, your posts last night, I will reply later. No time at present. 👍

Dukey, as "Helpful" told everyone in his 23 April post. He and no doubt those who are secretly lending RRR money think that Andrew is indispensable and is the driving force in Red Rock's success. 🥴

I believe in his 23 April 15:17 post Lundy said:

"Sorry to urinate on your strawberries but AB won't be going anywhere. He is key to recovering the VUP monies, pursuing compensation, dealing with Glencore and the new PPP JV."

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Nikeair, your 17:42 post.

I tried my best.

(1) 6th January 2022 RRR RNS mentioned Kamato copper.

(2) Same RNS said VUP relinquished the JV licenses to Gecamines 4th December 2019.

(3) Bell in early interviews said Gecamines then immediately resold those JV licenses on for $250 million.

So I then searched through old Glencore RNS's and found the $250 million deal RNS (dated 20th December 2019) between Kamoto copper and Gecamines.

I thought that matched up. But then I realised that Glencore RNS was deal on "land rights" not mining licences.

...

I'm sure that was shifty Andrews plan. He never directly pointed to that Glencore RNS but instead he gave little pieces, then the useful idiots like me find that RNS and then do the dirty work for him by spreading that RNS around.

Of course it's all a load of garbage. So Specinvestor your hope of Glencore making a settlement with Red Rock is probably little more than a wild dream. I'm sure the Company Glencore have not even heard of Red Rock. You do know that don't you?

I haven't posted on twitter. I only opened an account last year so I could read it because Elon blocked non twitter members.

I actually like that Helpful apparently filters me. I don't believe we've directly spoke on here for around 2-3 years now. I won't mind if that turns into 4 or 5. Though the way things are presently going I'm not confident Red Rock will still be listed then.