Member Info for zumore

What if the president takes a instant disliking to Andrew?

Wow how childish are lse! They won't even allow a link to be given.

Go over to RRR advfn share chat and the poster valuestock gives out the full link on that thread.

Third attempt. Join all together:

hTtps:

//****/

RedRockResources/528

Lse won't allow the link. So join both together

hTtps

://****/RedRockResources/528

Specinvestor

*************RedRockResources/528

No. My link was purely to point towards a simple explanation of what a draft award is. Instead of putting that English article on here i should've probably found an article from the DRC.

Glancing at todays RNS the £1,225,000 adminstative expensive are very high. It is also important to get this DRC arbitration sorted out quickly because no shareholder would want Red Rock to lend the full $1.5 million from the recent death spiral lenders because they could absolutely decimate this share price. Lastly i was surprised to see in todays RNS that Red Rock still owe former Kenyan partners Kansai mining $1 million. Todays RNS said:

"As at the reporting date, the amount of US$1,000,000 remains payable, with agreement having been arrived at between the parties that payment shall be deferred until receipt by the Company of any funds awarded by the court of the DRC".

https://expert-evidence.com/types-of-award-in-arbitration/

Hawaii, i know you said the share price has only been lower once at year end in 18 years but remember Red Rock did do a 25-1 share consolidation at the end of 2014. So if that share consolidation had never happened then todays share price would be 25 times smaller.

Before the share consolidation there were 6,033,861,125 shares in issue. After the 25-1 share consolidation the shares in issue were 241,354,445. Today they have 1,341,147,223 shares in issue.

On a different subject Red Rock's annual results rns must be released by Friday.

Specinvestor with you living in Canada. Is this severe winter weather that we are seeing on the UK news affecting the area where you live?

No wonder you get so aggressive when it's suggested Bell should be replaced because if he were replaced all these individual projects that Bell persuaded you to invest in would probably get dropped by any replacement.

It's amazing you have such belief in a guy who has such an atrocious record.

Also i said:

"Even if some production happened"

CAMBRIDGE DICTIONARY. "Even if" meaning:

"used to say that if something is the case or not, the result is the same"

Lots of my posts are rampy because i often dress up my inner doom about RRR with optimism.

Last post should have said:

I remember some years ago during a period of death spiral financing the Red Rock share price got 65 times smaller during a two year period.

During that period there was also a big shareholder who accumulated over £1 million RRR shares on the open market. That extra liquidity made it easier for the death spiral companies to offload which only encouraged Bell to do more death spiral financing which ultimately devastated this share price further.

Also i don't why anybody is getting excited about yesterdays RNS because even if some production happened Bell would only release production numbers if he liked them and if he didn't he wouldn't. So ultimately for shareholders it would become totally frustrating.

I remember some years ago during a period of death spiral financing the Red Rock share price got 65 times smaller during a two year period.

During that period there was also a big shareholder who accumulated over £1 million RRR shares on the open market. That extra liquidity made it easier for the death spiral companies to offload which only encouraged Bell to do more death spiral financing which ultimately devasted this share price further.

Also i don't why anybody is getting excited about yesterdays RNS because even if some production happened Bell would only release production numbers if he liked them and if he didn't he wouldn't. So ultimately for shareholders it would become totally frustrating.

Looking today at the RRR advfn forum poster Noirua posted that he understood advfn poster torp passed away last year. That's very sad if true because torp was definately Mr Magic. :(

Mr Magic's last lse post was 23rd April 2021 and Torp was posting on advfn until 20 July 2021. On lse he was posting less and less on the RRR thread and he was mostly posting on the CCL thread. So maybe Noirua is basing that he passed because he stopped posting but maybe he just stopped posting because he just lost interest?

I really liked Mr Magic. Over the years we agreed on most things related to Andrew Bell and Red Rock.

Does anybody actually know?

After some thought and i'll attempt to answer my own question.

Looking again at the 28 million share paragraph. It seems the lenders can either choose them to be the initial 0.7p shares or they could choose them not to be.

So if amazing news from the Congo happened and it somehow rose high enough were the lenders were selling at a profit, then 28 million shares x 0.7p (or £196,000) could be taken off Red Rocks debt. However if the share price slumps they could choose those 28 million not to be subcription shares and instead pay Red Rock (give or take) what they sold them for. So it seems zero chance of losses to the lenders.

I know the RNS said no shorting and posters over the years have insisted you can't short minnows like Red Rock because they had desperately searched and failed to do it but even so i do get suspicious of lenders like this.

In my last post if you switch "in lieu" to its other meaning "instead of" that 28 million shares Paragraph looks more clearer.

"Concurrent with the Subscription, the Company will issue 28,000,000 of the Subscription Shares (the "Initial Subscription Shares") to the subscriber at par value, reducing the amount to be ultimately issued under the Agreement. INSTEAD of applying these shares towards the aggregate number of subscription shares to be issued, the Subscriber may make an additional cash payment to the Company"

From RNS:

"Concurrent with the Subscription, the Company will issue 28,000,000 of the Subscription Shares (the "Initial Subscription Shares") to the subscriber at par value, reducing the amount to be ultimately issued under the Agreement. In lieu of applying these shares towards the aggregate number of subscription shares to be issued, the Subscriber may make an additional cash payment to the Company.

The Company will issue to the Subscriber 17,000,000 Shares (the "Fee Shares") (being the equivalent of £66,300 at the latest closing price on AIM) in satisfaction of a fee"

Both amounts of shares will be admitted to trading on Aim on around 19 December.
............

So Red Rock will issue 28 million shares at par value. Looking online it says par value can be another name for nominal value but Red Rock's nominal share value is 0.01p or one hundredth of one penny. Surely Red Rock haven't given the lenders 28 million shares at that price?

So i'm guessing that must be incorrect. So does anybody know what a Red Rock PAR VALUE share would cost?

Hi Specinvestor, yes i agree these type of fundraisings are not good for shareholders. Il

Red Rock will be releasing it's annual results by the year end, so they must release that RNS by at the latest Friday 30th December. Like past years i expect Andrew will fill it with lots of excuses.

Years ago Andrew used to release a Christmas newsletter and sign it off with "merry christmas and a prosperous new year". He better not do that this year!

Banburyboy, like you i thought yesterday those 20p and 50p figures were done for comedy effect. Then today you realise there is purpose behind those numbers and if he did a share consolidation the 0.20p price floor would be meaningless and he could then dilute shareholders to his hearts content.

Yes i agree he is definately a wrong un. And TDT remember his father was a politician and they go on forever. So if his health holds up i don't see retirement in the next decade.