Member Info for zumore

'Helpful' on 14th August agreed to a £1000 charity bet with poster theeDuke. In the bet Dukey said Kenyan licences wouldn't be reissued Helpful said they would.

When agreeing to the bet Helpful said:

"Yeah okay but only because I am know I am safe.

Peripatetic Fund at Christies then"
.....
Lo and behold 3 days later RRR release an RNS to say the Kenyan licenses were reissued back on 2nd August.

To me seems very dubious. Seems he may of already knew. To me it seems Dukey may have got stitched up.
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Also Bell in recent interview gave a passing mention of Slovakia. On 5th Sept Helpful made a simple post:

"Slovakia?"

Lo and behold yesterday RRR released an RNS to say they have done and may do some additional deals on Slovakian assets.
.......
If he does advise clients and also gets RRR inside information. That doesn't seem legal to me.

I know absent poster Longterm was threatening posters with the FCA. Maybe you should contact them about 'helpful'?

Interesting points about Stephen Lundy (aka Helpful) he does give the impression that he is privy to Red Rock inside information. He also says he was the person who arranged the outstanding £830,000 convertible loan note. He also gives me the impression he advises some of those loan note holders. And of course he also says he personally owns Red Rock shares.

All that put together doesn't appear that legal to me. Is it?

When former chairman Andrew Bell talked about Mambare:

"Papua New Guinea is an unspoilt and biologically diverse environment. We have always acted carefully to ensure that our exploration has minimal impacts and that we restore the natural environment, or leave it in a position quickly to restore itself though plant growth, at the end of each exploration phase.

We will continue to act with consideration for our impacts on our host communities and their environment.

Our liaison with the local clans, of two of which I am proud to be an honorary chief, and their communities is close and we walk around with the local leaders and landholders before cutting any trackway or path, discussing compensation and ownership for each likely disturbance including every tree cut. Since the land in the licence area is held under customary tribal ownership the rights of an individual are often unclear, and there is never a time when there is not some argument or dissatisfaction; these problems arise between the members of the tribe or village, or between them and people who have married into the tribe or settled on their land, but they impact on us. The task of negotiation is never over, and it is necessary to give constant attention to the cultivation of trust and easy relationships so that problems can be discussed and resolved as they arise.

As part of our community development programme we have given a range of assistance to local communities, including through our paramedic and through schoolroom construction. This is an area of activity we intend to develop further in the coming year."

Repost of CRCL tweet:

https://mobile.twitter.com/CorcelPlc/status/1303600286876020737

I don't know if this tweet is a deramp by Corcel. But here it is:

mobile.twitter.com/CorcelPlc/status/1303600286876020737

I won't be watching it but Scott Kaintz often repeats the same things. So I will pick 5 words or phrases tonight which I think he will say:

(1) Onion
(2) Blue sky potential
(3) We've got a little bit of something for everybody
(4) I'm excited
(5) Covid.

but in June 2018 RRR settled a promissory note dispute over the sale of the El Limon gold mine.

https://www.lse.co.uk/rns/RRR/colombia-update-vr2fxk3dfoy2uhi.html

Above RNS says as part of the prom note payment RRR received half a million Canadian dollars in PARA shares.

I know PARA have changed names. But do RRR still own those shares?

I cannot recall seeing an RRR RNS to say RRR had sold those shares.

In this Jupiter's full year report which was released May this year. On page 29 in tiny print under how many JMS shares JMS directors held. It said:

"Andrew Bell as the Chairman and Director of Red Rock Resources plc has a relevant interest in Red Rock Resources plc (RRR). RRR is the beneficial owner of
17,024,914 Ordinary Shares in the Company at balance date"
........

I've tried to download an old JMS half yearly to see if that also mentions it but the download keeps failing. So October's half yearly may or may not mention how many.

The Jupiter yearly report always mentions how many JMS shares Andrew Bell's company Red Rock owns. In the May yearly report it said they owned just over 17 million.

So I would assume that when the JMS half yearly report is released, possibly end of October, then that will also say how many Jupiter shares Red Rock owns.

Below extracts are from yesterday's Red Rock RNS. Please note everything is in Euros.

KEY POINTS.

(1). €10,000 paid for a due diligence period to 21 September 2020

(2) Red Rock has made a payment of €23,000 in order to acquire a 50% interest in the Zlata Bana License covering an area of approximately 12 sq km
Upon exercise of the Option Red Rock would acquire a 50% interest in the other Assets, including interests in land and buildings, vehicles, and mining equipment, a permit over a mineral stockpile, and mining information and data.

(3) The consideration for exercise of the Option would be the issue upon the execution of documentation to transfer the interest in the Asset) of €250,000 of new Red Rock shares at an issue price equal to the prior 5 day average VWAP

(4) A further issue of €100,000 of new Red Rock shares would occur upon completion of the process of Transfer, at an issue price per share equal to the 5 day prior average VWAP

(5) Red Rock will be responsible for certain expenditures of the Joint Venture in the period after execution of the Option, which is expected to amount to not less than (or at least) €100,000 in 2020.

Good news!

Looking at the exchange converter 2,500,000 USD is equal to £1,885,796. So instead of selling Red Rocks Jupiter + POW shares to pay Kansai $2.5 million. Red Rock would only need to sell their Jupiter shares to cover the $2.5 million. :)

Red Rocks Jupiter shares are not worth as much as I thought. Many times these past few years management have said that Red Rocks Jupiter holding is near equal to the Red Rock market cap. But these days Red Rocks Jupiter shares are only worth around a third of the Red Rock market cap.

Saying that I'm not dewy eyed that Red Rocks Jupiter shareholding seems to be getting less and less. In fact I would sell all Red Rocks shareholding + sell all of Red Rocks POW shares and then use all that money to pay the $2.5 million which Red Rock need to pay Kansai mining in a couple of months.

Thanks for your response Andrew.

I suspected numerous posts including my question would get removed. Luckily I saved it. So for those who wonder what question I asked Andrew. It's back to front (his answer before my question) but here's a repost of my question:
.........

Andrew, I'm considering making an additional investment in Red Rock but a segment from below 2018 Kenyan RNS concerns me. It seems to suggest Red Rock will need to pay $2.5 million within 3 months of Kenyan licence renewel. Is this true?

RNS says:

"In the event of a renewal or reissue of licenses covering the Assets the Company will within three months make further payments, subject to such renewal or resissue not being on unduly onerous terms, as follows: (1) $2.5m payable in cash, (2) a $1m promissory note payable 15 months after issue"

https://www.lse.co.uk/rns/RRR/progress-report-african-exploration-assets-5s1il4w8nfrg1yr.html
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Helpful didn't your loan note originally come about because of Steelmin? If I remember correctly Red Rock needed the CLN to repay some of the debt which they took out to loan Steelmin money.

So it wasn't a success for Red Rock because they still owe £830,000 from that rolled over loan note.

And also what porridge oats mentions, that murky unannounced £1.1 million never to be paid back additional loan that Red Rock gave Steelmin.

So definitely not a success.

Yes Bell is extremely wasteful with Red Rock's money.

I recall in March 2018 both Bell and Kaintz did this mini share talk presentation in front of a whiteboard https://m.youtube.com/watch?v=eC3EWHcU2ug . I recall them saying Red Rock would have over £3 million cash by May that year. I even recall Stephen Lundy's (Helpful's) reasoning for rolling over the loan note in 2018 was because he thought Red Rock management could make better use of all their money instead of paying off the loan note holders .

Yet come the half year report in March 2019 it was revealed that on the date of 31st December 2018 under "cash and equivalents" all Red Rock had was £27,059.

So within a few months of that mini presentation Bell had effectively wasted that £3 million.

Just looked at advfn (I never log in) and I see poster Noiura did a near identical post to my last one. I didn't copy just a pure coincidence. It's pretty obvious loan note holders should be quickly converting and trying to sell for big profit.

Stephen Lundy (aka Helpful) says he arranged loan notes. So if he's telling his loan note clients not to convert into 0.60p RRR shares (and sell) then he's giving them terrible advice.

I'm still amazed loan note holders aren't converting loan notes to get 0.60p shares.

To me you convert before all the dilution happens and then sell for hopefully big profit. I can't believe loan note holders will just let the loan notes expire on 19 December, thus refusing the chance to sell at a profit. 1% interest a month is rubbish when you could convert and sell for a big profit now.

I'm not convinced this high price will last. I mean this share price has risen around 50% in the past 30 days. So if I held loan notes that I could convert into 0.60p shares then I would be quickly be converting and quickly trying to sell for a profit.

So definitely get converting and selling before everybody else and before the future dilution happens.

Bizarre nobody is doing it.

Yes my mistake 4kandles. You've been around long enough so you'll know about Bell. :)

Not great English in today's RNS:

"Red Rock will be responsible for certain expenditures ("Committed Expenditure") of the Joint Venture in the period after execution of the Option, which is expected to amount to not less that €100,000 in 2020."
...

I assume that last part was meant to say "which is expected to amount to not less that €100,000 in 2020."

In normal English you wouldn't say "to amount not less than €100,000" instead you would say "to amount greater than €100,000"

Looking at other Arc mineral RNSes the sale price of its Slovakian asset isn't as big as it first looked.

Earlier RNS said:

Sale of Sturec Update

First Payment and Second Payment

As was announced on 30 December 2020, Arc will receive two phased cash payments namely A$450,000 (less the A$30,000 option fee) on the Completion Date (the "First Payment"), followed by a second payment of A$300,000 (the "Second Payment") within six months of the Completion Date, bringing the total cash proceeds payable to Arc of A$750,000 (c. US$500,000).

The Resource Upgrade Royalty

If, at any time in the period between 19 November 2021 and 19 November 2024, the Šturec JORC Indicated and Measured Resource exceeds 1.5 million ounces gold at a grade greater than 2.5g/t (inclusive of recoverable Ag equivalent), MTC will pay Arc a further A$2 royalty per additional ounce of gold . This royalty is capped at 7 million ounces of gold"