Member Info for zumore

Yes Robins let's hope so.

I will revert back to posting little. I just wanted to bring a little balance because the other day ramper "helpful" was making it to be a certainty that RRR would get millions. He even mentioned figures that RRR could receive half to $1 billion. I'm sure he wouldn't mind but I'm sure most wouldn't want some new naive investor to sink all their money into RRR because of what he said.

For those who like to contact AB so he can boost your confidence in Red Rock. You should contact and ask him if Red Rock did complete the formal registration of the joint venture.

Small correction. That extract below says neither party had control.

Hawaii I'm not so confident. After all we are putting confidence in a man who has a long long list of disastrous deals, that resulted in losses of many millions at both here and his previous company RGM.

In that below 2020 Stockbox interview (from 11 mins to 11 min 40 secs) he stresses the importance of everything being registered in the DRC. Yet in Red Rocks last final results RNS (31 Dec 2020) it says:

VUP Musonoi Mining SA

"On 2 March 2019, Vumilia Pendeza S.A. ("VUP") and Bring Minerals S.A.U. ("B.Min"), the joint venture partners, Red Rock Resources Congo S.A.U. ("RRRC"), a wholly owned local subsidiary of the Company, signed the "Statutes of VUP Musonoi Mining SA" ("VMM S.A."), the joint venture company (incorporated in the Democratic Republic of Congo) through which the JV Project will be pursued. RRRC owns 50.1% of VMM S.A, however the entity is operated jointly and managed by the board of Musonoi Mining S.A. with no party classified as having formal control. The Company is working with its local partners in order to complete formal registration of the joint venture in the near-term"
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I'm also pessimistic because for the past few years it's been in the books with a value of £583,000. Also VUP didn't have to consult RRR to surrender its assets. So clearly they had control even though RRR said they had a 50.1% controlling interest.

Corcel's company year end is 30th June. So they must release them no later than 6 months after that date.

So anytime up until 31st December.

https://www.lse.co.uk/rns/CRCL/final-results-izkrlk8jyiu2m0d.html

If you look in last years final results RNS and then scroll down a little to "corporate' you will see some loans are due to be paid in December 2021. Likewise I believe align research are also due money in December.

So although all of you have incredible patience, bear in mind what could happen in December. PS and I don't mean Christmas.

Last post should have said "31 Dec 2020 final results rns". I had put 2021.

Apart from the DRC rns from the other day the last mention I could find of the VUP JV is from the 31 Dec 2021 final results rns. In that rns there was other paragraphs about other Congo projects but I've purposely omitted them. So read the final results rns if you want to read about them.

Extracts from final results RNS:

"In the Democratic Republic of Congo ("Congo" or "DRC"), considerable time has been spent over the year dealing with issues relating to the VUP joint venture, comprising principally copper-cobalt properties near Kolwezi. Our local partner had an internal family dispute to resolve, which involved some complex issues where we considered that though vexing, it was necessary for us to co-operate. These internal issues have been resolved, some minor documentation matters remain, and we expect to be able to progress more rapidly with exploration and development in 2021"

"The Company has devoted time and effort to developing contacts and know-how in the Congo. This has taken patience, because our view of the inviolability of contracts derives from a different historical experience, where stability is assured and so a long-term view and a deferral of reward are the norm. The Congolese experience has been more precarious, and trust needs to be earned and is not easily given. While law and contract do give a decisive advantage to the party with written evidence, that works best as a reserve power, acting in support of persistence, reliability, and persuasion"

Somewhat alarming seeing people getting overexcited over this latest DRC development. In my opinion it's a recipe for PIs to get carried away and lose big money.

Remember Red Rocks supposed partners VUP didn't tell or involve Red Rock, they didn't think Red Rock deserved any money, they also didn't sell the assets but voluntarily surrendered them. So because in RNS Bell says "we are confident of our position morally" then that could mean Andrew has a super weak contract with VUP and he's not confident of Red Rock's position "legally". I don't know why everybody is saying RRR should go after Glencore because surely if RRR had a solid written contract with VUP then they would go after the supposed partner (VUP) who were trying to rip them off?

Then again investors can do what they please. Anyway here's an RRR rns from 12 Oct 2020 that highlights a dispute in Congo.

https://www.lse.co.uk/rns/RRR/summary-key-projects-vr5yaf6e8v22d3t.html

Also next day 13th Oct 2020 Bell did a Stockbox interview and between 6.40 mins and 11. 40 mins he talks a little about the Congo dispute.

Watching interview I do fear everything wasn't registered correctly and any Red Rocks contract with VUP is flimsy.

https://m.youtube.com/watch?v=rFKCJA4j7jc

Some may not believe me Robins but I am genuinely sorry for your losses. It sticks in my mind years ago when you said you were at that time down £40,000.

It is also annoying watching Helpful. He really isn't some Helpful guy. He has arranged loans for RRR in the past and he is on this thread to direct matters and to spread his outlandish information and I'm sure many believe him.

I'm sure he's been told if he spreads outlandish information on a thread then he can get away with it if he ends posts with DYOR.

Last year I recall him telling those who had lost in RRR that if they were stupid enough to invest in RRR in a downward surpressed market then that was their fault.

Apparently him and his big shareholder clients were clever enough to buy into RRR at the correct time.

From my understanding HELPFUL's client is the biggest RRR shareholder. So he will say anything to sucker people into RRR. So when he says " the worst position is we are owed 51% of $20mil". That's a lie! It's made up. The RNS doesn't say that.

I'm convinced he finishes his posts with DYOR to cover his back. And I suspect when he convinced investors to invest into RRR some hearts sank when they realised that the person who advised them to invest in RRR was a ramper who plonked himself on the RRR thread for years on end trying to ramp RRR.

Bell thinks it's a good idea to say in the other rns.

Ah ok Andrew.
........

Hawaii. I agree those two rns are two sprawling messes of RNSes. They are classic Andrew Bell RNSes. And he thinks slipping French in RNSes (or sometimes Latin) impresses investors. It doesn't!

Bell says in the DRC rns.

Does that fill anybody with confidence? Surely it would have been better if he had said: "We are confident of our position LEGALLY"

Friday's RRR tweet looks somewhat misleading:. https://mobile.twitter.com/RRR_RedRock/status/1459103688769871891

It asked investors or potential investors to look at the 1st September broker research note. Since then the stated £1.7 million Jupiter shares have been sold off and only approximately £600,000 remains. Likewise only around £650,000 in POW shares remain. Bell also never mentions Juno shares these days so I will assume they have long been sold off.

The other estimated figures mentioned for the other assets look to me to be over the top exaggerations. So if that tweet is the reason for Friday and today's RRR rise then I think those new RRR investors have been misled.

Looking at that photo I still say Bell looks like Benny Hill. It's either Benny Hill or disgraced silent movie star Fatty Arbuckle.

https://www.lse.co.uk/rns/POW/holdings-in-company-h4ogrpikbwytut2.html

if you look in the correct RNSes you can see that quite a large amount of debt is due to be repaid in December 2021.

Andrew was asked about funding. He said that the biggest funding requirements were up until November. He suggested Red Rock would have no problems paying.

I'm going to guess he meant the $2 million loan facility that was mentioned in last year's final results RNS. That RNS said they had at that point drawn down $1.4 million and the loan was secured against Jupiter and POW shares. Extract from RNS says repayments would begin in June and so 6 payments later would be November:

"The notes carry an interest rate of 10% and come with a 7.5% implementation fee and are repayable over a six-month period starting in June 2021"

Then around 1 min 30 seconds on video he says "we are operating well within our facilities"

So I wouldn't be surprised if they have been repaying back the loan facility and so they have been rewarded with a new loan facility. Of course pure guesswork by me because of course Andrew doesn't instantly update via RNS when he takes out these new loans. So like last year maybe the end of the year final results RNS may reveal if he's taken out a new loan facility.

Unfortunately the combination of the buzzing along with Andrew's voice meant I could only tolerate watching 2 minutes from the two videos.

Spare a thought for shareholders over at CZN or Curzon energy. Scott is also CEO at Curzon and after letdown after letdown they have been in suspension for over 11 months.

To be fair Robins this has been a wonderful money maker for Andrew. Year after year of letdowns but there is always people who will defend Andrew.

I'm sure yesterday's announcement was plain annoying for most. Investors or potential investors want focus and progress of projects not endless new announcements of licence applications.