Member Info for zumore

TDT. Yes AB does nearology.

This is an extract from that first link you gave. It's amazing because it's like it's talking about AB:
........

MANAGEMENT'S TRACK RECORD TELLS YOU (almost) EVERYTHING

"Good quality management will typically have some sort of track record of exploration success.

When a company can attract a joint venture partner it’s another good indication that they are the real deal, Mr Wendt says.

“On the other hand, if a potential shareholder looks at management’s track record, and they have been diving from one commodity to the next, from one project to the next, and from region to the next – that raises some red flags,” he says.

“That company isn’t particularly concerned with meaningful exploration.

“It’s probably more about generating some share price momentum rather than achieving any meaningful long-term exploration success.”

Robins, like you I remember on numerous occasions over the years AB hyping something up, then he quietly sweeps it under the carpet before moving onto something else.

Truthfully all of his interviews come across incredibly boring to me. It seems like he'd rather not be doing them. Though he does slightly perks up when that proactive investors Katie interviews him.

I know you've lost a lot in RRR and like most of us you've been really critical of AB over the years. I've just had a look at a few of your RRR posts from a few years ago and even though now years later they still very ring true today. Here is a few of them all from a few years ago:

"We all know he hides any bad news. How many projects have gone quiet or simply disappeared over the years. I honestly believe he only thinks about himself"

"No one buying. No one believes the AB spin anymore."

"He seems to go all over the place but never delivers value to shareholders. How does he sleep at night?"

"Always same old same old from AB. He has kidded a lot of people over the years"

"Just received a letter from AB asking me to support him. I have just emailed him to say I hope he gets sacked for incompetence"

I agree Robins. Before they got the Kenyan licenses back Bell was saying how many were interested in partnering them on the Kenyan asset. However in today's stockbox interview he seemed to suggest that at present nobody is interested in partnering them. At the very end of the interview Andrew Bell said:

"If we can get this resource to the point where we want to get it, then we will have many more options because people will be interested in potentially working with us....and that creates options"

This may surprise some but I somewhat agree with HELPFUL in that the removal of Bell wouldn't necessarily make RRR prosper.

Bear in mind he's loaded RRR up with debt. He also has assets in difficult to operate countries (like Congo and Kenya). Also the RRAL joint venture is with Power metals. Yes Paul Johnson does all the POW interviews but Bell is the unseen chairman of Power metals.

I'm convinced Bell complicates things on purpose so it makes it difficult to remove him.

Since Victoria Goldfield company LEVIATHAN GOLD listed on the TSX on 10 February its share price has been extremely erratic. It hit an high of $0.99 on its first day of trading, it hit a low of $0.53, however yesterday it ended at $0.58 after they announced a 30,000 metre drill program on its Victoria Goldfield licences. Here is yesterday's news release: https://money.tmx.com/en/quote/LVX/news/8411320097093987/Leviathan_Gold_Launches_30000_meter_Drilling_Program_at_its_newlyacquired_Avoca_and_Timor_Projects

So could be good to keep an eye on its progress to gauge the present TSX appetite for Victoria Goldfield assets.

MJWtrader. CRCL previous name was Regency mines. If you look through the RGM RNSes you will see an huge amount of fundraises. This was a pretty brutal one:. https://www.lse.co.uk/rns/RGM/board-changesfundraisingdebt-restructuring-sbfqrqnutq4r7ji.html

Also the share count may be low here but that is misleading because they have previously done a 1-100 share consolidation and before that a 1-20 share consolidation.

Lastly CRCL CEO Scott Kaintz is also CEO of CZN. CZN shares have now been suspended for over 3 months.

I suspect RRR CEO will not be happy that the larger shareholders have blocked his attempt to disapply the pre-emption rights. For those who don't know here is a brief explanation on pre-emption rights: https://www.qualitycompanyformations.co.uk/blog/pre-emption-rights-key-to-maintaining-shareholdings/

I seem to recall at his former company Regency mines that the shareholders also blocked him from disapplying the pre-emption rights and RGM kept asking the shareholders to vote again and again until the shareholders relented and let them disapply the pre-emption rights.

I think the big problem will arise when the YA + Riverfort $2 million loan facility will need repaying back in June because normally YA and Riverfort would be paid back by handing them Red Rock shares each month. Of course this would dilute the large shareholders. So I'm suspecting near June the RRR management will try again to disapply the pre-emption rights because they will need to dilute the large shareholders shareholding so they can repay YA and Riverfort back.

In 2018 Andrew Bell did a sharetalk interview bragging that come May that year RRR would have over £3 million in cash. However by year end I recall they had around £27,000 remaining. He had squandered most on making loans that were never paid back. He didn't even (until months later) inform shareholders by RNS that he had made the loans.

These past few months he did a £1 million placing last September. Another £1 million placing today. In November he restructured a loan facility arrangement with YA so he could get his grubby mitts on $2 million. $1.4 million had been drawn down by December and so we can be sure he's maxed out the full $2 million. So no doubt later in the year he'll be looking to raise a few million to repay that back.

He certainly has an unquenchable thirst for money. To be fair he constantly raises the money because he knows he can. Unchallenged, sitting on his Red Rock throne I'm sure for many more years.

It's s near certainty Red Rock have now fully maxed that out. In the December final results RNS it was revealed they had drawn down $1.4 million. Bell doesn't update the markets when he further draws it down, so now pretty certain he will have maxed that out.

According to final results RNS repayments start in June 2021 (so 4 months away) and the loan (including interest) is repayable over a 6 month period. So come June 2021 Red Rock will need to to repay around $350,000 every month for 6 months.

To follow on from Helpful's post.

Fosterville bought 3 of those Victoria Goldfield licences from ECR for $500,000. ECR would get add ons depending on what was found. Here is the ECR RNS:. https://www.lse.co.uk/rns/ECR/sale-of-exploration-licences-for-cash-96x4d4y3759q05x.html

Fosterville in June then announced they would spin out two of those newly purchased licences into Leviathan gold. Fosterville shareholders would then receive 1 share in Leviathan for each share that they held in Fosterville. Here is the news release: https://www.prnewswire.com/news-releases/fosterville-south-plans-to-spin-out-avoca-and-timor-tenements-victoria-to-leviathan-gold-ltd-the-shares-of-which-will-be-distributed-to-fosterville-south-shareholders-301082139.html

Then Leviathan gold listed on the TSX today. Here's the news release:. https://www.prnewswire.com/news-releases/leviathan-gold-to-commence-trading-with-symbol-lvx-301225860.html
........
Now it seems ECR didn't receive a tremendous amount for selling those licences. Though it seems Fosterville shareholders did pretty well out of it because they received shares in Leviathan.

The question is. If POW and RRR were to do an IPO and list RRAL on the TSX, does anybody believe POW and RRR ordinary shareholders would receive free shares in RRAL? I cannot see it myself because Bell is a greedy so and so and everything always seems to be to the advantage of him and nothing to the advantage of the ordinary shareholders.

No Bell hasn't delivered over these past 12 months.

If Kenyan licenses were restored (they were) he said he would have a JV partner lined up. He hasn't so it looks like RRR will have to pay all of the Kenyan exploration costs themselves. Which could mean they have to find many millions.

Also If he had attracted a rich Kenyan partner they would've probably paid Kansai the $2.5 million instead Red Rock will have to find that money.

Also in the final results it was revealed Bell had set up (on the quiet) a $2 million loan facility with YA. So far he's drawn down $1.4 million. Shareholders are not being informed when it's being drawn down so we can be sure that soon the full $2 million will have been drawn down.
This $2 million loan facility has a 7.5% implementation fee + 10% PA interest. Payments will begin in June and it must be paid off over a 6 month period. So if the full $2 million is drawn down RRR will from June have to make repayments of over $350,000 a month.

You can ignore all that and just look at the share price rise. But he is once again lumbering RRR with huge debt (that will need to be paid back) and he has not delivered.

If Andrew Bell does have important Red Rock business in Congo then I personally think he should travel. Then upon return the UK government officials will quickly whisk him off to his 1 star quarantine hotel; from what I've read he will get 3 square meals a day; every 2 or 3 days they will also let him out for 20 minutes exercise; though high security would watch over him to make sure he doesn't escape.

I don't see the problem after all he would still have his beloved twitter. Plus an additional bonus for him, it could be very good practice for his future.

Following on from my last post I now suspect any vital face to face Red Rock business in Congo will now get delayed because stubborn Bell will refuse to stay in a quarantine hotel for 10 days on his return.

I see that those returning from Congo will have to stay in a government provided quarantine hotel for 10 days. Yesterday it was rumoured that Kenya would also be on the list but fortunately for Red Rock it didn't make the list.

Clearly present RRR chairman Andrew Bell will not be happy. From reading his twitter these past few months he refuses to wear a mask when entering a shop, he's also not having a vaccine. So being forced to stay in a government provided hotel for 10 days when he returns from Congo (I believe with security in the hotel's watching over them) clearly won't please him.

I see he's done a tweet on these quarantine hotels:

https://mobile.twitter.com/ABell2019/status/1354474175851802627

To add one extra to the Kenyan news possibilities. The 31 December 2020 final results RNS said:

"On 21 December 2020 the Company agreed to restructure payments due to Kansai Mining following renewal of the Company's exploration licenses held over the Migori Gold Project in Kenya.

Of the US$2.5m cash payment due under the original agreement executed on 15 June 2018 within three months of license renewal, the Company agreed to pay $1m in cash immediately, US$0.5 million of which was paid on 24 December 2020, with a further $1.5m to be paid in cash or stock at Kansai's discretion, by 29 January 2021. Any shares issued under this second payment were to be priced at the closing price of the Company's shares on the date of issue"

I've not t yet looked at it. But Align did another research note around 4 years ago. So when compared it will be interesting if they just recycled old information.

What did they get £30,000 in shares for this report?

For all you know he may be unwell.

So don't be a tw*t.

An extract from the 31 Dec 2020 final results RNS said:

"On 21 December 2020 the Company agreed to restructure payments due to Kansai Mining following renewal of the Company's exploration licenses held over the Migori Gold Project in Kenya. Of the US$2.5m cash payment due under the original agreement executed on 15 June 2018 within three months of license renewal, the Company agreed to pay $1m in cash immediately, US$0.5 million of which was paid on 24 December 2020, with a further $1.5m to be paid in cash or stock at Kansai's discretion, by 29 January 2021. Any shares issued under this second payment were to be priced at the closing price of the Company's shares on the date of issue"
......
Yet when Red Rock CEO Andrew Bell posted on this thread in September 2020 he was saying he was saying Red Rock had lots of good options to pay Kansai the $2.5 million. Read his top post in his LSE profile:
https://www.lse.co.uk/profiles/andrewrbell/

In the end he's decided it will be RRR shareholders who will get diluted to pay Kansai the $2.5 million.

Is the Kenyan gold exploration Project really that good? If it was you would think rich partners would be desperate to partner Red Rock in the project.

No it doesn't mean news.

I remember years ago on one of his former (closed down!) twitter accounts he posted a photo of an African fertility symbol when he had just arrived in Africa. Many jumped to conclusions and asked what it meant and then concluded African news would soon be RNSed. Many months passed and the news never arrived.

PS: Let's hope they bar him from re-entering the country!

It doesn't to me.

CEO Scott Kaintz learnt his AIM apprenticeship under the guidance of the notorious Andrew Bell. Kaintz is also CEO of Curzon Energy (CZN) and they have now been in suspension for around 2 months. We'll just have to wait and see if they ever come out of suspension.

The Vanadium exploration project is in Northern Canada near Alaska. Now in the midst of winter there is little to no sunlight and with artic temperatures often nearing minus 40 Celsius. The deep ice thaws around June time for a very brief period. The recent RNS said even in August the weather conditions were poor. So little chance of any follow up exploration for many many months.

The Mambare nickel exploration project is in Papua New Guinea. Monsoon rainy season is from December to March. So again little chance of any activity there. Although when this company was called Regency mines they reported that ground penetrating radar work had happened in Mambare last year. The first activity there for around 9 years. But no results were ever released. So I guess management could have well made it up.

I'm not too familiar with James Parson's. Though I note many don't seem enthusiastic about him.

So to me it doesn't look great here. Though on the twitter CRCL hashtag I do see many famous well known promoters (or rampers). So I guess they may encourage a few to help this share price.