Member Info for zumore

Being strung along by Bell on the Greenland sale that never happened was particulary devastating on some RRR shareholders.

I recall in 2013 buying in RRR at 1.30p for the Greenland asset sale. There has since been a 25-1 share consolidation. So that price today would be under 0.02p or over 65 times smaller.

Luckily i escaped with not too big losses but this recent incessant DRC ramping does somewhat reminds me of the Greenland ramp. Bell in one his proactive interviews was saying he was in the DRC to collect the $4.5 million from VUP and Gecamines had $15 million so he was going to get around the table with them and they would be divvying that out. You also had AB's b****boy 'Helpful' on this thread constantly saying "soon Rodney soon" and telling us that AB could't have been more clearer in his interviews.

So after 6 weeks what did AB return from the DRC with? Just a new suit and a new pair of shoes.

https://mobile.twitter.com/SenTedCruz/status/1552731292520923136

Why is it you always live up to my expectations?

And you are the person who knew something because you were arranging the loan notes and you knew full well that there wasn't an immediate RNS to say that RRR had just recieved millions from Congo. Yet instead of keeping quiet and not posting because you had some inside knowledge you instead couldn't resist posting and telling people on this forum that the Congo RNS delay was because the documents were getting translated into English. I sure many thought you were being dishonest and trying to trick them. I know i thought that.

Lastly you posted on Elephant oil yesterday and so did i. My posts on Elephant oil were about Elephant oil and your post on Elephant oil was not about Elephant oil. So on reflection i'm quite comfortable with my Elephant oil posts.

I think that last paragraph should say: "and another well during the THIRD phase."

I don't like to mention him but i recall some time ago poster HELPFUL saying he put an huge sum of money in the Elephant oil pre IPO fundraising.?? So unfortunately for him it's dead money at present.??

Specinvestor. This is part of a 2015 interview with Elephant oil CEO Matt Lofgran. Lofgran outlines what was required of Elephant oil during the 9 year licence but i believe they did next to nothing. So who knows whether the important Benin licence will get renewed.

CEO Matt Lofgran:

"The licence blocks in Benin are set up on three, 3-year terms. Assuming commercial oil is discovered, there is the option for a further 25-year Production Sharing Contract, with a 10-year extension subject to size and extraction rate of discovery. These contract periods are generous and much longer than typically seen elsewhere, reflecting Benin’s desire to develop the industry onshore.

When it comes to the end of the first three years, Elephant Oil will relinquish 25% of Block B and then another 25% at the end of the second three year period. This focuses attention and requires a high level of discipline to get the best out of our blocks as quickly as possible. This is standard practice across the industry globally.

Having analysed the results of the previous 2D-seismic work and our own airborne survey, our efforts have since been dedicated to identifying leads and drill targets. We have identified a very large leads in our primary target area. We’ve done some initial work on a potential target size, but it is too early to quote any results, other than to say we are encouraged by what we have seen.

We will finish this initial seismic work in 2016, when the first exploration phase comes to an end. We will then have a commitment to drill an exploration well in the second phase, and another well during the second phase. This will be the first onshore exploration well in Benin’s history."

https://sec.report/Document/0001213900-22-015244/

To avoid any arguments. Please click above link...scroll all the way down to Benin... then it can be seen that the very important Benin licence ends in October 2022.

I doubt the Elephant oil IPO will be happening any time soon because the 9 year Benin licence ends in October 2022. So with that Benin block B licence being one of the main focal points of the IPO then clearly that licence needs renewing before any IPO could possibly occur.

https://m.youtube.com/watch?v=4dok4erOvig

In the first minute of this video he looks very pleased that the JV was now watertight.

Did wriggly VUP agree to arbitration and agree to abide by the arbitration decision?

Did Gecamines agree to abitration and agree to abide by the arbitration decision?

What specifically is the arbitration about?

The RNS didn't go into any detail about the arbitration.

Specinvestors question was a perfectly reasonable question yesterday.

"Once again I ask What is being arbitrated and who are the parties?"

Thanks TDT! It always amuses me when 'helpful' wrongly says i was ramping RRR and Bell in 2010/11. I didn't become an lse forum member until October 2013.

Here is a very short AB interview from a few weeks ago. From the 4 minute mark he tells you what his 3 main objectives are on being in the DRC: https://m.youtube.com/watch?v=hRJ04UI2pe0

Lastly below is a sharepr*phets article on Stephen Lundy from 2018:

"All things seem to be quiet down at the ranch that is Mayan Energy (MYN) but word reaches Mr Karma that the temperature is about to be ratcheted up there on one of AIM’s most value destructive CEO’s – Charlie Wood.

Readers will recall that Wood survived the AGM vote in which Richard Jennings of Align was spearheading calls to remove him. But as Zac Phillips pointed out last week his behaviour with regard to Deloro is indefensible and he should be walking the plank and more..

I can now disclose that aside from the voting of the Deloro shares that, surprise, surprise Charlie Wood controls with his wife, that one of his other (very few) chief supporters at the AGM is a chap by the name of Stephen Lundy. Lundy operates an IFA outfit in Manchester called Bespoke Capital Solutions and, we understand, controls a good percentage of the Mayan share float on behalf of a few of his clients. Lundy also posts under the handle “Helpful” on the lunatic asylum that is the LSE – readers might want to check out his posts there and unwavering support for the company in Wood in the face of overwhelming evidence of misdeeds by Mayan’s management.

What is intriguing to us is that the document below that has been passed to us highlights Lundy’s own personal involvement in a placing in Mayan’s previous guise – Northcote Energy. You will see that Lundy was, at that point, being chased for the sum of £40,000 in relation to his defaulting on this. Who was involved with Northcote Energy at the time? Of course Mr Charlie Wood.

Call us cynics but we posit that it is interesting that Wood’s most fervent supporter now was, just over 2 years ago in debt to Northcote/Mayan for the sum of £40,000.

Perhaps one for AIM’s most useless and discredited Nomads - Beaumont “lashings of custard with spotted dick” Cornish to investigate with regards to issues of undue influence on the part of Wood over Lundy? AIM Regulation may have an interest in this too"

Poster 'Helpful' was the one who originally said the DRC delay was caused by the translation of documents. I personally found it peculiar that while most have been anxiously waiting and concentrating on the DRC update helpful was trying to get people off that subject by bombarding this thread on other projects. So i reckon it's a nailed on certainty that Stephen Lundy (or Helpful's) company 'Bespoke capital solutions' arranged these latest loan notes.

I say that because a few years ago he was on this thread telling us that he had arranged loan notes for Red Rock with his clients. The largest shareholder Charles Topham was apparently his client. Year after year those loan notes were rolled over for another 12 months. Here's an RNS when they again rolled over and lowered the then conversion price: https://www.lse.co.uk/rns/RRR/renewal-of-convertible-loan-notes-0cgrfgdovblyfmk.html

So i urge people not to hang on his every word because when he's telling you something is imminent, when you are getting excited huge money is coming, remember he's probably arranging a loan. His allegience is not with you it's with the company. So when he tells you how well Andrew Bell's doing remember he is the company stooge.

Helpful did your company arrange these loan notes?

The funny thing is these "wriggly people" that Andrew Bell is dealing with are the same people Andrew Bell did due dilligence on and he concluded they would be a good honest people to go into partnership with. :)

My worry is what Andrew see's as success may not be what shareholders see as success.

Even today Andrew thinks the $5 million sale of the El Limon gold mine was a success. However when the proposed sale was first announced in May 2014 the $5 million payment comprised of $2.5 million on completion of sale; one year later RRR could cash in a $1.5 million promissory note and then the remaining $1 million would be paid in royaties. However over that year Andrew caved in to a weaker and weaker deal and when the sale was eventually completed in May 2015 the $5 million payment was now $100,000 that had already been paid for exclusivity (it was supposed to be non refundable), then $450,000 on completion of sale; another $225,000 at 9 months + another $225,000 after 15 months; 3 years after sale they could cash in a $1 million promissory note, they had to fight to get that and eventually they accepted part cash/ part shares. In a later annual results RNS i see the shares had been used to pay off a debt. Lastly the sale comprised of $3 million in royalties and after all these years hardly any royalties have been paid.

Unsurprisingly on completion of this weakly constructed $5 million sale there was no positive reaction to the RRR share price.
.....

If Andrew was in DRC for a few days you conclude everything was straight forward. However he was there for 6 weeks and for all we know he could have weakly crumbled and accepted a derisory amount. Even worse he may returned after 6 weeks with his tail between his legs bluffing that it was a succesful journey.

That greatest translation is seeing huge amounts of paid money in the RRR bank account. I'm suspicious that there has been no huge price increase because i don't believe everybody in the know would be honest and keeping quiet about it. Instead i would expect a dishonest leak and a dramatic price increase.

So to sum up i'm not overly convinced AB collected millions on his journey to the DRC. I guess we'll soon find out.

The problem is Bell has built up such high expectations that anything other than a few million recieved (in one sum) i believe would be seen negatively.

To me what would be seen VERY negatively would be new land recieved + money paid in small installments. I think that outcome would absolutely plummet this share price.

These recent fashion shows that Andrew's been attending seem to have inspired him to change his wardrobe.

https://mobile.twitter.com/ABell2019/status/1547346798276132865/photo/1

I'm not sure about his new choice of handbag but his new suit looks very Kim Jong-un on him.

Over the years i can remember on a couple of different occasions when the market cap hit £400,000. They had Mambare. So even with Mambare it didn't prevent the market cap falling that low.

Matter of interest Specinvestor. I think you said you are Canadian?

Do you usually invest on AIM?

You do realise that many UK investors rightly or wrongly see many AIM chairman and CEO as conmen who will lie and say absolutely anything to sucker the investor in?