Member Info for zumore

Everyone bear in mind that Red Rock's year end is 30 June. So from 1st July Red Rock's new financial year begins.

So with that new financial year they can start afresh with a new batch of shares they will be allowed to issue during that new financial year.

The thing is you are stranded in Red Rock. I am not.

Your expert analysis persuaded your clients to invest in Red Rock. Like you they are now stranded in Red Rock.

I doubt no investor in Red Rock's entire history has got themselves invested in so many Red Rock projects. You truly believe in Andrew Bell. You said it on many occasions that 68 year old Andrew is vital to Red Rock's future success and without him the company would crumble.

This is a post from you over two year ago when the share price was over 1p:

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"1. The JV negotiations in Migori need to be brought to fruition plus we need a mining license for the tailings and for the hard rock. AB is key plus the licenses will need to renewed in due course. Getting rid of AB now would probably mean that those mining licenses do not get issued and the overall licenses don't get renewed.

2. DRC is French speaking and there is no doubt it is easier to operate in DRC with AB speaking French. We have a new license about to be awarded in DRC which dwarfs the others, which given Musonoi is supposed to have 240,000 tonnes of copper in place is something. We are also at a delicate stage with Adidi Kanga. I also suspect that the local partners in the VUP partnership would find a way to get us out of it without AB.

The issue is the board, which has been just gone along with whatever AB has wanted to do without any proper oversight. That has now changed AB does not control the board any longer. He has said that new directors will be appointed, hopefully they will be acceptable to all parties.

We want someone who is strong, seen to be independent and who the market will support.

My view is that as of today, fair value is 4/5p but with a little bit of a push it would be materially higher. RRR is a sitting duck for a bid. We would support a bid at the right price, which would be higher than where it is now.

DYOR"

Hawaii, your bashing has increased lately:

"Bell will milk every penny out of his company, I say his company because Red Rock is exactly that, he is answerable to no-one, he has no qualms in diluting every shareholder to death to keep his personal gravy train running, for goodness stake he is so poor he cannot even produce a audible media interview, just utter waffle."

Taking into account what you recently said above i don't know why you want him to do an informal chat?

Looking through the Red Rock official RNS's the hype on the Zimbabwe project isn't that great. Instead poster "helpful" has been ramping the project to high heaven. So in my opinion people getting excited over the words of a paid ramper instead of waiting for official RNS news is unwise.

Just a reminder of the murky money losses revealed in the 2019 final results RNS. On (3) Bell was also CEO of Regency mines and Legacy hill were Regency mines joint venture partner. So with no safeguards in place Bell and Kaintz inexplicably took £267,983 of Red Rock's money and subsequently lost it by lending it to Legacy hill resources.

They should have been sacked for all 3, afterall who would lend money with no interest or no repayment date. It was giving just giving money away on all three so called loans.

Extracts from the 2019 final results rns:

(1) "The Company conducted a review of the loans made to Steelmin Ltd in order to facilitate the restarting of ferrosilicon production in Bosnia, totalling £1.01m, and determined that due to the UK business going into administration and the Bosnian assets being sold off to a third party, that these loans would not likely be recovered and should be impaired in full."

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(2) HOW IT STARTED:

"On 19 July 2018 the Company agreed to subscribe for 35,519 common shares in Amulet Diamond Corporation at a subscription price of US$2.76 per common share. The Company further subscribed to US$401,961 of shareholder loans. These shareholder loans are unsecured, non-interest bearing and have no fixed maturity or repayment date. These loans must be repaid by Amulet Diamond Corporation before any distributions are made to common shares, including any dividend payment or return of capital."

HOW IT ENDED:

"The Company further reviewed shareholder loans totalling £306,106 made as part of an investment into Amulet Diamond Corporation in 2018. The board of Amulet reported that following activities onsite in 2018 their updated financial models have indicated that under most scenarios, the BK11 asset is not an economically viable mine. As a consequence, various options have been considered, mostly with a focus to repaying a portion of an outstanding loan Amulet Diamond Corporation owes secured on the processing plant located in Botswana. In the Company's view none of the options considered were likely to provide any value to unsecured creditors and lenders or equity holders, and as such the Board believes that a full impairment of the Company's shareholder loans is the most appropriate course of action"

..........................

(3) " The Company also reviewed an outstanding loan of £267,983 made to Legacy Hill Resources Inc, a US based operator of metallurgical coal assets. Following discussions with Legacy Hill Resources, the view was taken that the Omega metallurgical coal mine, the sole asset of Legacy Hill Resources Inc, had ceased coal production and was unlikely to have residual value sufficient to pay off the loan, and so the decision was made to impair this loan in full"

When 2 days ago RRR issued more shares to Diversified Metals for the first time in RNS's they didn't reveal how much they still owed Diversified Metals. In the previous 15 March 2023 RNS they said: "Following this issue, the amount prepaid stands at $348,000 with an additional $78,000 fee to either be paid in cash or added to this amount by 22 March 2023"

In the very first 15 Dec 2022 Diversified Metals RNS it revealed they could still lend upto another $1 millon to RRR. So in my mind Red Rock could have now lent more money from them. That would be very bad news because when Diversified Metals are issued with more shares they always get an huge discount.

Many many years ago i came to the conclusion that both Andrew Bell and his useless sidekick Scott Kaintz are rotten leeching eggs. I remember a few years ago seeing a photo of Winnifrith, Bell and ex bank robber Brokerman Daniel doing a charity walk and i looked at them and thought to myself "Brokerman Dan is not the dodgiest person in this photo".

Also this part from the end of year final results RNS confirms that the £256,000 mentioned in the 25 July 2022 CLN rns (in rns they weren't named) was a company called Yew Tree Capital:

"On 25 July 2022, the Group announced the issuance of £623,000 in new convertible loan notes to a variety of institutional investors. Of the principal amount, £256,000 was the novation of amounts payable to Yew Tree Capital at the reporting date and £367,000 represented new subscriptions to notes, of which £320,000 of subscription proceeds had been received as prepaid funds at the reporting date. The notes have a denomination of £1,000 each, are convertible at 0.6 pence per share and each note holder was granted 83,333 warrants per note to subscribe to new ordinary shares at 0.8 pence per share. The notes attract a coupon of 12% pa, mature 12 months from issuance and may be convertible at any point prior to maturity. On 19 August 2022, the Group announced the further issuance of £50,000 in convertible loan notes, on the same terms as above"

23 Dec 2014: RRR had 2,371,116,172 shares in issue.

21 Dec 2015: RRR had 6,033,861,125 shares in issue.

On the same day (21 Dec 2015) the Red Rock AGM passed a resolution for a 25-1 share consolidation and the next day 241,354,445 shares were in issue.

Mistakes in last post should have said:

(1) 'I think that only scratches the surface and numerous others are owed"

(2) "I think an Autumn share consolidation is nailed on if not 6 billion shares in issue by the end of the year"

Yes Banbury, it looks very grim here.

It seems Red Rock owe Power Metals money. They owe Riverfort money. They owe the death spiral lenders, 'Diversified metals' money (Dec 2022 loan). And from my last post 'Yew Tree Capital' are also mentioned; it seems in last years 25 July 2022 CLN RNS Yew Tree Capital had an old £256,000 debt facilty converted into CLNs. I suspect they aren't part of Lundy's clients so come July they probably won't be rolling over and therefore will also want paying. I'm that only scratches the surface and numerous others are owed.

I think an Autumn share consolidation is nailed on if not 5 billion shares in issue by the end of the year.

Dukey, i don't know. However all the below is an extract from December 2022 final results RNS:

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Investment Disposals

During the year, the Group disposed of its entire holding in Power Metals Resources plc, raising proceeds of £0.7m after transaction fees.

During the year, the Group disposed of its entire holding in Jupiter Mines Ltd, raising proceeds of £1.9m after transaction fees. Proceeds from these disposals were used in full settlement of loans payable to Riverfort/YA drawn down in the prior year, totalling £962,758 as at 30 June 2021.

Financing

During the year, the Group entered into a convertible loan note facility with Riverfort Global Opportunities Fund (RGO) for up to £1m, with an initial principal drawdown of £385,000 before costs (£310,550 after costs). Principal owing on the initial drawdown is convertible by the note holders at the lower of 4.549 pence per share and the Volume Weighted Average Share Price (VWASP) of the Company shares in the 5 trading days prior to notice of conversion. As part of the transaction, the Company issued RGO with 18,464,800 ordinary shares as security against amounts owing, at a total value of £70,000. The par value of these shares was remitted to the Company on issue, with the remainder being recognised in these financial statements as an offsetting receivable against the principal amounts owing at the reporting date.

During the year, the Company entered into an agreement with Yew Tree Capital for a loan of £250,000 before costs (£243,750 net of costs) at a coupon interest rate of 8% pa. The entire principal owing on this loan was novated into subscriptions to convertible loan notes following the reporting date. See note 26 for further details.

During the year, the Company received £320,000 form institutional investors as subscription prepayments against convertible loan notes issued after the reporting date. As at the reporting date, these amounts have been recognised as a current loan payable.

During the year, the Company entered into an agreement with Power Metal Resources plc for the provision of a £100,000 working capital loan towards expenses incurred on behalf of that company and the Company as shareholders in New Ballarat Gold Corporation Plc, The intention of the parties is that where such joint expenses do not arise or have not arisen within a reasonable time frame, any outstanding balance will be settled by the issue of Company shares on commercial terms to Power Metal Resources Plc. As of this date, no such terms have been agreed."

Yes he seemed like a nice guy. He bought most of his shares on the open market and he didn't aggressively ramp.

.....

I didn't realise i could post smileys on here. So i will see if they work for me:

(1) 🆎 is a 🔔🔚

Here is the 2014 RNS when Red Rock persuaded Dan Sklan to partake in an £80,000 placing and also later in the same RNS it talks about the £100,000 that he was willing to put towards a new Ivory coast venture. Although in the end i don't believe Red Rock ever got those particular licences.

https://www.lse.co.uk/rns/RRR/private-placing-and-exploration-investment-578kigb44nfh7dj.html

No Dukey i didn't save his post but i remembered his members name:

https://www.lse.co.uk/profiles/d_s_/

Only an handful of his posts remain because i recall a few years ago he had the lse admin erase all his posts. One missing post he talked about how at one stage he had been willing to put £100,000 towards a new Ivory coast asset. He had already given £10,000 but he wanted Bell to account for where every penny had been spent before he gave anymore. Bell didn't want to do that so Dan quite wisely stopped at £10,000.

This present price is probably the buy on rumour price.

Oh good! I had sometimes wondered if for these past 15 months or so you had been getting up in the early hours of the Canadian morning to view Red Rock's mostly miserable RNS's. So i'm pleased you don't.

Though a word of caution on AIM. Often if price enhancing news is announced at 7am many shareholders will often be selling up when the market opens at 8am. So there is a slim possibility that one day you could wake up to see a Red Rock good news RNS but lots of shareholders may have already sold up on the early morning rise and by the time you view that same RNS the share price could be way down.

On AIM patience often doesn't pay off.

Specinvestor many RNS's in the UK are released at 7am. When it's 7am in the UK is it 2am where you live in Canada? If so please don't tell me you get up at 2am in Canada to look for a 7am RNS?

Must have been to stop people clicking on all your boring links. :)

I'm not arguing. I'm just trying to help you out.

By the way in your opinion is Justin doing well? Will you be voting for him at the next election?

Specinvestor, todays RNS is nothing to do with December's death spiral loan RNS: https://www.lse.co.uk/rns/RRR/fund-raising-caft48kd13uct6a.html

December's lender who still have an huge amount of prepaid shares to convert were called Diversified metal. Today's RNS Red Rock are repaying a loan to Riverfort Global Opportunities PCC Ltd.

Like you i'm getting confused because Red Rock owe money to so many different people.

I do see goodness in many RRR investors and i'd love to see somebody like Robins get some of his RRR losses back. Unfortunately Bell never delivers and if a couple of more months of nothingness passes then this share price could be below 0.10p.

So Banburyboy long before the end of the year i reckon a share consolidation will have happened.