Member Info for zumore

is getting the wrath of twitter. He's received hundreds of replies because of his insensitive response to a man who's wife died of coronavirus:

https://mobile.twitter.com/ABell2019/status/1264841080685690881

No.

remember the CEO of RGM is Scott Kaintz. Remember Scott Kaintz is also the Curzon CEO.

Lots of you have been piling into this these past few days while the Curzon CEO at the same time has gratefully been selling up all of his companies RGMs Curzon shares.

Lastly bear in mind RGM originally invested £575,000 in Curzon shares at around 10p a share but they've been sold at around 1p.

I've been amazed at this ramp these past few days. It's mindboggling.

He's been abysmal at Red Rock Resources, Regency mines and now Curzon energy.

He's been at both Red Rock Resources and Regency mines for around 9 years and both share prices have been absolutely decimated. Both companies were run by the notorious Andrew Bell. Scott Kaintz was taught everything by Andrew Bell.

If you mean most investors are keeping themselves at least 2 metres away from the RGM buy button. Then yes I can why you say that. :)

Hi Pat!

It's always great to see a familiar name pop up who I haven't seen post in a while. Hope you are keeping well?

And like you I've been avoiding the dregs of AIM and investing in better quality companies lately. I've not been doing too bad in them. And yes avoiding AIM enables better sleeps. :)

in around 3 week for when the Columbian 'El Limon' gold mine sale was completed.

When the intended sale was announced by RRR in May 2014 it didn't look too bad. It was $5 million with an initial $2.5 million cash payment, then a $1.5 million promissory note to be cashed a year later, then the last $1 million in royalties from the gold mine. However over those next few months RRR made announcements and the deal got weaker and weaker. I believe it ended up $450,000 first tranch, then in later periods two $250,000 payments, then a $1 million promissory note, then the final $3 million would come from royalty payments from the gold mine.

My memory is sketchy but I recall most of the prom note was paid in PARA resources shares. And I have no clue how much royalty payments RRR have received these past five years. Because AB doesn't brag about it then I can't imagine much in Royalty payments.

I seem to recall. When RRR first announced the intended sale in 2014 the RRR share price was near 0.27p: when the sale completed a year later it was down to 0.07p.

So those who say if you wait patiently for a deal to complete then you will be rewarded. Well that is certainly not true with that El Limon' gold mine sale.

Come Thursday (May 7th) it will be exactly 5 years to the day that RRR rnsed that the licenses had been revoked:.

https://www.investegate.co.uk/red-rock-resources--rrr-/rns/kenya-update/201505070700154135M/

Vbeckers, yes it only seems like yesterday when you, I and others were suffering in this hellhole. Then came along that awful Elephant oil deal and the seller absolutely pulverised this share price further.

Andrew Bell is so bad for Red Rock shareholders.

When he sits on other boards you see he has no qualms about dipping into Red Rock's funds when he needs money for his other companies.

(1) He was on the board at Steelmin. He lends them £1.1 million of Red Rock's money without asking or RNSing RRR shareholders.

(2) He was CEO & Chairman of RGM. RGM were doing a coal joint venture with Legacy hill resources. He lends Legacy hill resources £267,000 of Red Rock's money without asking or RNSing RRR shareholders.

Both amounts of money weren't paid back and were later written off by RRR.

(3) Going on the board at ABM (now POW) he used £100,000 of Red Rock money for an ABM fundraise. RRR received ABM (now POW) shares. Because Bell is on the POW board little chance of Red Rock selling their POW shares. So effectively Bell of Red Rock gifted his other company POW £100,000.

(4) Bell sits on the board at Jupiter. This is to the advantage of Bell (extra wage) but not to the advantage of Red Rock because Red Rock own 17 million Jupiter shares and I cannot ever see Bell offloading all of them for fear that if he did so he would lose his board seat at Jupiter and his Jupiter paypacket. So to me a definite conflict of interest.

Yes i know this is all a repeat of my other posts. And I will stop posting on this thread (for many months) because it is really exasperating to me that Bell remains here when he is so obviously terrible news for RRR shareholders.

Colin. I recall Legacy hill being in the offices upstairs from RRR/RGM.

The Legacy hill founder Sarandhi Rajan is apparently a millionaire many times over yet Bell of RRR lent Rajan's Legacy hill £267,000 . Of course it was never paid back.

Andrew Bell's Regency mines were the one's doing business with Legacy hill. So I don't know why Bell was using Red Rock's money to loan Legacy hill money. RRR shareholders were getting nothing out of it.

I agree with you Mr Magic, Bell and others need to go. On numerous occasions Bell doesn't even bother to inform the market about price sensitive news. For example p*ss*ng the company's money away without informing shareholders.

https://m.youtube.com/watch?v=eC3EWHcU2ug

You'll see Bell & Kaintz writing down on a whiteboard that Red Rock would have around £3 million in cash by May that year.

But never RNSed they made over a £1 million in loans to Steelmin that were later written off by RRR.

They made an over $400,000 loan to Amulet diamonds that was only announced many months later. That was also written off by RRR.

RRR also didn't announce that they had made a £267,000 loan to Legacy hill resources (RGM business partner). That was also written off by RRR.

So an huge amount of that £3 million cash was just squandered by Red Rock management. Absolutely astonishing that the inept duo of Andrew Bell and Scott Kaintz are still at RRR.
,.........
Also in last post forget the title. I didn't finish it off.

Andrew Bell was chairman of RGM and is still chairman of RRR. Scott Kaintz is still at both RGM and RRR.

In 2018 RGM went into a USA coal partnership with Legacy hill resources. From Red Rock's final results it seems Andrew Bell with no Red Rock announcement gave on the quiet Legacy hill resources a loan.

Red rock's December final results RNS says:

"The Company also reviewed an outstanding loan of £267,983 made to Legacy Hill Resources Inc, a US based operator of metallurgical coal assets. Following discussions with Legacy Hill Resources, the view was taken that the Omega metallurgical coal mine, the sole asset of Legacy Hill Resources Inc, had ceased coal production and was unlikely to have residual value sufficient to pay off the loan, and so the decision was made to impair this loan in full"

So the incompetent Andrew Bell (along with Kaintz) not only lost millions in the failed USA coal ventures for RGM but with the last US coal venture they also lost a few hundred thousand for their other company RRR.
.......

I thought that would be of interest for those who were around at the time.

(1). He is RRR CEO/chairman . He was RGM CEO/chairman.

In 2018 while Andrew Bell was still at RGM, RGM went into a partnership with Legacy hill resources to operate a USA coal mine. It was ultimately a dismal failure.

From Red Rocks December final results it seems that on the quiet RRR lent Legacy hill resources money and it was later written off. Final results RNS says:

"The Company also reviewed an outstanding loan of £267,983 made to Legacy Hill Resources Inc, a US based operator of metallurgical coal assets. Following discussions with Legacy Hill Resources, the view was taken that the Omega metallurgical coal mine, the sole asset of Legacy Hill Resources Inc, had ceased coal production and was unlikely to have residual value sufficient to pay off the loan, and so the decision was made to impair this loan in full"
......
(2). Unbeknownst at the time to RRR shareholders when Andrew Bell was a director at Steelmin on the quiet RRR lent Steelmin £1.01 million in loans. Last year's final results says:

"The Company conducted a review of the loans made to Steelmin Ltd in order to facilitate the restarting of ferrosilicon production in Bosnia, totalling £1.01m, and determined that due to the UK business going into administration and the Bosnian assets being sold off to a third party, that these loans would not likely be recovered and should be impaired in full"

(3) Bell is both Chairman of RRR and POW (formerly ABM). In Jan 2019 RRR took part in an ABM placing for £100,000. https://www.lse.co.uk/rns/RRR/red-rock-resources-update-9gsxw7dz318md8z.html
To me this was RRR giving ABM (now POW) a £100,000 freebie because with the conflicts of interest with Bell being on both boards I doubts RRR or Bell will be selling POW shares.

I recall when Bell was once a Star Striker director and RRR sold some Star Striker shares and the Star Striker board wanted Bell removed. Bell said in an RRR RNS RRR wouldn't sell anymore Star Striker shares. Then he gets forced out and resigns and he quickly sells all the star striker shares.

So also definite a conflict of interest with Bell being a Jupiter director. If Red Rock sold too many Jupiter shares then Bell could well lose his directorship at Jupiter.

The breathtaking thing about Bell is that he never even RNSed these additional loans to Steelmin or the loan to then Regency mines business partner Legacy hill resources. Shareholders basically find out when the loans have been written off.

Let's be honest it's all very murky and he should have been sacked years ago.

did cause a price spike in both companies. Yesterday POW spiked to 0.42p but today's sell price is around 0.25p.

Yesterday I was baffled by the price rises. The POW RNS said:

"POW to pay license application expenses to date amounting to A$2,159 (£1,125) to become a 49.9% shareholder in Red Rock Australasia Pty Limited ("ProjectCo"), a wholly owned and currently non-operating exploration subsidiary of London listed Red Rock Resources plc (LON:RRR) ("Red Rock")"
......
So if we take away the ramp material dressing from yesterday's RRR and POW RNS's they both only announced that POW had spent A$2,159 or £1,125 to apply for an exploration license?

I'm sorry on reflections my title in my last post was a mistake. Instead of 'loud and proud' I should've put 'bragging'.

he usually likes to scream from the rooftops how much RRR will receive from Jupiter dividend payments. However in latest RNS he doesn't want to mention the figure.

Roughly: Just over 17 million X three quarters of an Australian cent (so around 0.39p) = approx £68,000.

That is not like the few hundred thousand that they have received in the past. So that will not be good for this cash hungry management.

I wouldn't be surprised if near the end of the year poster 'helpful' Stephen Lundy says " I rolled the £million loan over yet again because of the name 'blue whale'. Why do you think they named it that? Think about it. Dyor"
.........

On another matter I doubt cash hungry Bell will be pleased with the 0.75 cent Divi that JMS have just announced. I believe that is Aussie cents so that amounts to just 0.39p. So according to my non calculator rough calcs that means RRR will get near £70,000.

That is much less than usual and that will not be paying Stephen Lundy back or supporting Andrew or Scott wages. So no doubt very unhappy.

I haven't got a clue if that was meant to be serious or not. But I believe RGM was over 3p when James Parson's became CEO in December.

is supposed to plant into investors mind that this POW/RRR joint project will be HUGE. It must have taken Andrew Bell and Paul Johnson a few moments to think that name up. Though as time passes I wouldn't be surprised if it comes to be known as the 'stickleback' project.

Lse are not yet showing today's RRR RNS. On proactive investors website it says:

"Power Metal Resources Plc (LON:POW) and Red Rock Resources PLC (LON:RRR) have begun a new joint venture partnership with the aim of building a strategic gold exploration portfolio in Australia.

It sees POW taking a 49.9% interest in the Red Rock Australasia, which as a joint venture vehicle will be renamed.

This vehicle has now already applied for exploration license area EL007271, with POW covering the application fees (£1,125). This asset is being referred to as the ‘Blue Whale’ project."