Member Info for zumore

Last sentence on last post should've said:

Lastly don't say you have also got your clients involved in this Lithium project?

Helpful you can tell me it's none of my business but you have previously said you have a 10% stake in this lithium project. So when AB needs more money for this project do you always have to contribute 10% of the money?

Has AB been tapping you up for more money lately?

Lastly don't say you also got your clients involved this?

When i usually put RRR in twitter it usually brings up thousands of tweets about that Indian film. So a few minutes ago i put in "RRR Andrew Bell" and a few historical tweets popped up about Andrew.

https://mobile.twitter.com/search?q=rrr%20andrew%20bell&src=typed_query&f=top

Specinvestor. Gècamines are the largest mining company in the DRC. One of the largest African mining companies in the whole of Africa. So clearly they will have a vast legal team who will scrutinize every detail of every contract or licence before they even consider parting with money. That legal team clearly had the expertise to make Red Rock vanish from any licence.

Specinvestor i tell you what boggles my mind. It's when DRC company VUP are called the bad guys, then we get mention of Glencore being the bad guys who apparently Red Rock will be going after next, then the boggle part is DRC state owned company "Gècamines" who are called the "bystander" almost innocent bystander who are keenly observing who to pay out the $15 million to.

Yet read about the DRC state owned Gècamines and the word CORRUPTION always pops up. They have a stake in most of these big DRC companies, for example a 20% stake in Kamoto Copper (Glencore 75%, SIMCO 5%). Gècamines clearly do things in their own interest, for example persuading VUP to relinquish it's Red Rock Joint licence and then quickly selling it on in a $420 million deal.

Clearly Gècamines knew Red Rock were part of the licence yet they must have given assurances to VUP that they could relinquish the licence. If the subsequent $420 deal was with Glencore then again they must have assured Glencore that would be getting a CLEAN licence.

So when i hear this talk about Red Rock are eventually going to be going after Glencore i think it's garbage because DRC state owned Gècamines did all the persuading and made all the money out of this licence.

So because of all the above no i don't feel optimistic about any money coming Red Rock"s way from Congo. And yes let's blame Andrew! Because if he decided to go into a country that's known to be rife with corruption then maybe the corrupt loss of a licence is just bad due dilligence on Andrew Bell's part?

Yes sorry. I understand that part of your post now.

And i agree this is an atrocious fundraising deal Andrew Bell has made with Diversified metals. Bell says patience regarding Congo but the share price was near 0.40p when the death spiral financing was first announced in December and it's clear diversified metals are quickly destroying this share price.

Of course bosses like Bell always sidestep blame for any collapse of a share price by saying "we cannot control the market". Of course that is a lie because they agree to these atrociously constructed fundraing deals that are near 100% certain to destroy any company share price.

The 24 Feb rns said Red Rock pay the $78,000 variation fee. So add that to the $348,000 means out of the intial $500,000 tranche the lenders still have $426,000 to convert into Red Rock shares.

Banburyboy, the 15 March rns 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"

I will assume that post was aimed at Brainspark?

Years ago Red Rock had a share nominal value of 0.10p (one tenth of one penny) and they couldn't raise funds below that nominal share price so they lowered the share nominal value to 0.01p (one hundreth of one penny).

So you took Brainsparks post too seriously because they aren't getting suspended for going under 0.20p. Everybody knew that ABs price floor promise of not issuing shares under 0.20p to the lender was a flimsy promise he wouldn't keep.

https://www.lse.co.uk/rns/RRR/issue-of-equity-na13wkvrjotxw1i.html

AB was not telling the truth about a 0.20p price floor because in the last rns the lender was getting 0.18p shares.

Yesterday it was said that Colombia was one of Bell's many legal successes. Out of the $1 million promissory note Colombian settlement Bell decided to take $500,000 in Para shares.

Buried deep in various Annual result RNS's this is what happened to that masterful Andrew Bell $500,000 investment:

"On 4 June 2018, the Company paid CAN$500,000 to subscribe for 2,500,000 shares in Para Resources, Inc.("Para") a private placement at CAN$0.20 per Para share, representing approximately 1.57% of the Para enlarged issued share capital. Each Para placement share subscribed for has an attached three-year warrant exercisable at CAN$0.30 per Para share"
.................

Soma Gold Corp. (formerly Para Resources Inc.)

"In July 2019, the Company transferred 2,225,000 shares in Para Resources Inc. and 175,000 warrants in Para Resources Inc. (note 15) to its creditor Cartwright Drilling Inc. to settle part of outstanding liability. Loss on disposal of these shares recognised in the Statement of Other Comprehensive Income amounted to £70,545"

It looks desperate to me.

The other week he did an interview and i think i recall he said he had met the deputy at the British Embassy and he explained Red Rock's situation to them. In same interview he also said that all local companies are supposedly on Red Rock's side. So if things were going Red Rock's why all of a sudden has he started to contact the British Embassy?

To me that tweet looks very downbeat and he is clearly saying Gecamines are corrupt, the authorities are corrupt. Now he is screeching loud because he thinks they will get embarrassed and they will relent. I doubt they will. Let's be honest i'm sure Gecamines would rather keep the money themselves.

I know most will say poor AB and poor Red Rock but it is more like imcompetent AB. When people say don't try to operate in the DRC because it can be corrupt and then he ignores that and goes and operates in the country anyway. So it's his fault when they end up getting ripped off.

What he's never seemed able to grasp is that little companies like Red Rock that can't, versus big companies that can are not treated the same in these countries. Red Rock are the ordinary person at the back of the queue watching the famous person getting let to the front of the queue getting preferential treatment.

So he chooses these places. His imcompetence. Sack him!

"The Purchase Price has been prepaid by the subscription announced in the Subscription Announcement.

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. "

One reason for being out kenya may be because the second and final prospecting licence ends at the beginning of August this year.

This website lists what may be next after the end of the second prospecting licence: https://kam.co.ke/mining-act-2016/

Who knows what big promises Bell gave the Kenyan government when the prospecting licence were renewed on 2 August 2020. For all we know the Kenyan government may be deeply unimpressed how little Red Rock have advanced the asset and annoyed that Red Rock don't focus all their attention and available money on speedily progressing the Kenyan asset.

May be bad news for the Red Rock/ Power metal Australian joint venture.

Maybe he's going to become an ISIS bride? Didn't Shamima Begum go the Turkish airport route?

Red Rock's AGM is next Friday afternoon. So i will assume he will need to return for that.

I'm sure many of these African leaders would frown upon a posh white Englishman who's in charge of a small UK company trying to make a monetary claim on their land.

If Mugabe was still alive and the land was in Zimbabwe, do you think he would side with the locals or side with Foreign Andrew Bell of Red Rock?

It's a pity RRR don't have a non white DRC CEO.

When he said in Telegram "wish me luck" he was probably nervous about meeting the president and also doesn't want to give his exact whereabouts.

I mean if any of you had a meeting (at the end of a long table) with for example Putin and you had to be slightly confrontational with him. Wouldn't that make you nervous?

Some people get so nervy at meeting these country leaders that when after the meeting they do an handstand on their hotel window ledge their nervy sweaty hands make them slip.