Member Info for zumore

Bear in mind Leviathan gold had around $12 million in the bank upon listing. Now they have a market cap of around $4.5 million or around £3 million.

Also it's share price is one tenth of the share price it was last year: was 0.45 now 0.045

So the unpopularity of these Victoria goldfield companies doesn't bode well for RRAL.

Here's my post from March 2021. Look at how the prices have further tanked.

Bell and Johnson used to promote RRAL by telling us how successful Fosterville South were.

From March 2021:

"TSX listed Victoria Goldfield companies share prices haven't been doing great lately.

Fosterville South (FSX) I believe IPO'd last year and went from around $1.00 to over $5.00. Now back down to around $1.30.

https://money.tmx.com/en/quote/FSX

Leviathan gold (LVX) lPO'd last month and reached $0.99 on its first day but it's now around $0.45"

https://money.tmx.com/en/quote/LVX

https://m.youtube.com/watch?v=OtuuhGL6OHc

Over the years Bell's closed down many of his personal twitter accounts. In the past i used to despair over some of his more shocking tweets because i was convinced his views were putting investors off.

Here is a recent insulting tweet from the RRR CEO:

https://mobile.twitter.com/ABell2019/status/1531941978077859842?cxt=HHwWhMC4vZnHxsIqAAAA

Here is a creepy tweet from the RRR CEO:

https://mobile.twitter.com/ABell2019/status/1536244378896936965?cxt=HHwWisC9xfGH69EqAAAA

Do we actually have any females who are invested in Red Rock Resources?

I recall former prolific poster on this thread HELPFUL saying he had invested big in Elephant oil. So instead of my dodgy guesses instead he can probably give you a better idea how the IPOs going.

On relflection the 20 million shares doesn't mean they are costing $1 each share.

Todays RNS also revealed that Red Rock had acquired a further 35,555 shares in an Elephant oil corp pre-listing placement. Each placement share cost $2.25 which means Red Rock took $80,000 in pre-listing placement shares. Red Rock previously held around 362,000 Elephant shares now they hold near 400,000.

With Matt Lofgran being in charge of Elephant oil corp i have an hard time believing they will be successful in raising $20 million for the IPO. So that additional $80,000 in Elephant oil may not be a masterstroke by AB.

https://tickerlog.com/news/3818217_elephant-oil-files-for-20m-ipo-to-fund-oil-exploration-in-benin-namibia/

If you scroll down to the end of March in this link https://www.whalestream.com/market-data/ipo-calendar you'll see they are trying to raise $20 million with 20 million shares, so it looks like it's costing $1 a share. AB paid $2.25.

In the above link if "withdrawn" appears next to the name it will mean IPOs been withdrawn. Luckily Elephant oil corp doesn't yet say that. Probably bookmark just in case.

I don't post on the other forum but i want to help the poster Jlondon if he/she is reading this.

In numerous posts yesterday you kept saying if RRR still held 25 million POW shares that would mean 25 million shares × 1.7p = £4.25 million.

1 million shares = £17,000. 25 million shares = £425,000.

I would hate to think you are investing in RRR because you've made a mistake in your calculations.

Very amusing January2. :)

Though it's really pityful RRR had only £182,000 in cash and equivalents at the end of December when during that same period they had made £1,808,000 from sales of investments.

Last year Power metals released this holdings RNS https://www.lse.co.uk/rns/POW/holdings-in-company-h4ogrpikbwytut2.html. RNS said Red Rock's shareholding in POW had gone under 3%. So because no mention of POW in todays RNS i suspect Red Rock's shares in POW have all quietly been sold. A month or so ago RRR released an RNS and buried at the bottom of that RNS it said Red Rock no longer had a material interest in Jupiter.

So with no more shares to sell + a money hungry chairman, it doesn't look wonderful here.

Todays RNS says during the six months to the end of Dec 2021 proceeds from sale of investments was £1,808,000.

However RNS says at the end of Dec 2021 Red Rock had just £182,000 in cash and equivalents.

Where did all the money go?

Here is the RNS from 29 Sept 2021 when they announced they had sold £1,239 million in Jupiter shares:

https://www.lse.co.uk/rns/RRR/investments-update-f25w6gr3w4dkksg.html

Although i'm not overly optimistic it will contain good news Red Rock's half yearly results should be released today or tomorrow.

Also half year report RNS should soon be released . Also around this time of the year we often get an RNS to say RRR directors have recieved free shares in their share incentive scheme.

And January2 your post was amusing.:)

FFS can you imagine if Andrew Bell and Red Rock are still loitering around in 5 years. It will be almost 22 long years since they first listed.

https://www.investegate.co.uk/red-rock-resources--rrr-/rns/admission-to-trading-on-aim/200507290830034489P/

Above is Red Rock's first RNS and the RNS ends with these ominous words:

"The Directors believe that further funding of the Company will be required as work progresses"

https://graphics.wsj.com/table/DoingBusiness

Above is a link to the wall street journal to a list of best and worst countries to do business in. They call it "ease of doing business ranking". They list 190 countries.
Number 1 is the best country and 190 is the worst.

Here is some of Red Rock's countries that they have an interest in.

DRC is ranked 182
ZIMBABWE is ranked 159
BENIN (elephant oil) is ranked 151
IVORY COAST is ranked 139
KENYA is ranked 80
COLOMBIA is ranked 59
AUSTRALIA is ranked 14

Helpful, at today RRR agm what was the voting percentage in favour of disapplying the pre-emption rights?

Article today from sh***phro***ts:

"The RNS merely says that all resolutions at today’s Red Rock Resources (RRR) AGM were passed. But given the speculation that CEO Andrew Bell might be given the order of the boot given the **** poor share price performance of late, Mr Bell – or his Nomad Roland ”Fatty” Cornish are being unduly, and uncharacteristically, modest in not giving the actual results. Luckily, I can assist…

The vote was initially on a show of hands, but lest that be seen as an imitation of a Vladamir Putin cabinet meeting there was also a count of the proxies. On the show of hands the score was:

For Bell 100%
Against Bell 0%
Abstentions 0%

I hereby declare that Mr Andrew Ronald McMillan Bell has been duly re-elected as the honourable member for Red Rock.

The proxy vote was more tightly contested with Bell securing just over 96% of the votes cast with a little under 4% against. However, it should be noted that two large blocks of shares voted for Bell but, being incompetent poltroons, missed the deadline and that had those votes been counted the number would have bee >98% for Bell and sub 2% against.

Given the massive Bulletin Board chatter about Bell being given the order of the boot, the result might surprise some folks but Bell tells me: “Because half a dozen grasshoppers under a fern make the field ring with their importunate chink, whilst thousands of great cattle, reposed beneath the shadow of the British oak, chew the cud and are silent, pray do not imagine that those who make the noise are the only inhabitants of the field.”

That, by the way, is not a quote from Mr Eric Cantona but from the great Conservative thinker Edmund Burke.

In reality, turnout at AGMs is almost always low. It would have cost me £40 to cast my votes so I, for what it is worth, did not lodge a proxy. And had I done so I would have voted to keep Bell not because he is my friend but because it is he who spins the plates at Red Rock. Without him, I sense some plates would crash. With him, enough may land in the right way to create enough value to chip in to the Goat Farm retirement fund"

Each RRR asset is like a spinning plate. When one smashes you replace it with another spinning plate.

Of course nothing really happens to the costly spinning plates until they smash.

Here is Bell being interviewed about Migori in 2010.

https://m.youtube.com/watch?v=uIfLcFhXtiQ

You will notice Paul Johnson was doing the interview. Who would have imagined that 12 years later Bell has made little progress and is still promoting Migori.

"The Company no longer holds a material investment in Jupiter Mines"