Red Rock Resources Share Discussion Threads

[seagullsslimjim] 15/2/2014 23:29

Hopefully Andy Pandy will go and play with his toys elesewhere soon and leave a competent person at the helm !!

[atinos auntie ettie] 15/2/2014 23:06

T, has anyone ever called you a recalcitrant busybody with ideas above one's station?

Either way gathering together the voting rights to propose (or overrule) a resolution is one thing, gathering together the voting rights required to vote through said resolution is quite another.

I shall refrain from posting for a time. Do yourself a favour and just buy the shares.

[ciao4niao] 15/2/2014 22:24

Wriglet, "nail" and "head" spring to mind.

Excellent post. I hope Bell's cohort copies him in on the post. Maybe he'll stop spreading the bovine manure around so freely in the future.

It really is time for him to go. For those that shrink back in horror at the thought, take comfort from the fact that many companies - and I have been invested in a couple - that have had the entire BoD changed within a few months, have survived and gone on to thrive and delivered real value to their shareholders - unlike this bunch of spongers.

[wriglet] 15/2/2014 18:40

Just been catching up on the thread and just had to comment on this post from Atinos auntie Ettie

"Something lost on you perhaps is the value-add created by who you refer to rudely as the gaffer.

Regency from which Red Rock was birthed, listed with a market capitalisation of just under £2.5 million. Their mutual value today stands at £10 million. When so many peers have fallen by the wayside even survival must be commended. To have navigated the 2008-09 recession and not just survived but thrived is exceptional."

Since Regency floated I wouldn't be surprised if RRR and RGM had raised well over £20m? from investors. How can it be called exceptional to lose so much money for the companies investors/owners?

Exceptional would be if Regency and Red Rock consistency managed to outperform the best companies in the sector and consistently made money for their investors/owners. For RRR and RGM that means share price increases, which can't happen in the long term unless the companies develop income producing assets or actually start to sell assets that they have added value to. Share price increases would be a lot easier for both companies if they stopped continuingly coming back to shareholders for more funds but used funds from sold assets or income producing assets to pay for further acquisitions and exploration.

Would RRR have spent so much money on the second year of exploration in Greenland or allowed the problems at El Limon to continue for so long if the management owned 30% of the company?


Regards

Wriglet

[scotchoverice] 15/2/2014 13:07

RED ALERT
kansai / ipcm deal had multiple rns's and press releases and a letter to shareholders bigging it up...only to have news that the deal was "later rescinded" squirted out deep in the footnotes of the 2010 annual report...with no evidence located to support the existence of ipcm. Now greenland and colombian deals look equally suspect. And RSL now valued to nothing. How much has AB extracted in fees and emoluments from this now worthless asset. Some might think this is a mark of incompetence. .others might think this is a highly competent operator with a proven formula for self enrichment at the expense of private investors. I couldn't possibly comment

[soulsauce] 15/2/2014 10:32

Tool indeed christo!!

[christo14] 15/2/2014 09:11

segullsslimjim

Close jim but i think you need to adjust the gender!

Possibly Bells new tool to manage shareholder expectations.

Find the advice to RRR shareholders to put Greenland to the back of their minds very sobering considering the source!

Note with interest Ettie was unable to resist a jibe on Resolution 6!

I hope someone can put her post up on the LSE board,my shine some light for the deluded posters over there.

[scotchoverice] 15/2/2014 07:51

Gl...if it wasn't a repeat of ipcm and colombia it would be laughable

[seagullsslimjim] 14/2/2014 20:32

Ciao - anyone who doesn't work at Messiah Towers and spouts that sort of sh*t needs locking up.

Does Bell have a son because there's an uncanny resemblence to Bells words of wisdom.

Reading the posts does make for some comedy gold. Reminds me of the film Zulu Dawn and the General who seems completely detached to the fact that they are likely to get slaughtered.

Then again they got through that but we ended up with Lofty running the show here !

[ciao4niao] 14/2/2014 20:20

You know the more I read Atino's reply, the more I'm convinced that it is written by someone in Adam Street ... and I have my suspicions who it is.

Mum's the word.

[atinos auntie ettie] 14/2/2014 19:25

A good response from the company, polite and to the point. But why even ask about fieldwork having to take place this year? Fieldwork is not the be all and end all. Desktop work can be done cheaply on the project without going back into the field. More to the point your question was answered yet you continued to pose the same question on here today. Your agenda?

[kezman01] 14/2/2014 19:01

I recently emailed RRR and asked the following:

Greenland-
. has the admin clearance referred to in the Sept 2013 RNS been received yet ?

.If it hasn't, how long do these things normally take, given that it's appx 6 months to date?

. What is the deadline for field work this year ?

I received the following reply:

"Regarding Greenland – there has been no significant progress yet this year, so the information contained in the last RNS still stands. As soon as anything changes, we will release an update. Unfortunately I am not able to comment further on the details of the deal, however I can tell you that we cannot predict how much longer it will take. Obviously we would prefer a rapid completion, but the time that these things take varies greatly. Regarding field work: that decision will be made when appropriate, according to when the deal concludes."

I then followe up with the following:

Let me rephrase the question.
For fieldwork to take place in this year ,2014, what is the last possible date that the deal could complete ?

The response was:

"We are a long way off having to make a decision re a field season. When the time comes, we will release news if we plan to explore. However, the resource in Greenland is established – the main work has been done. The focus now is on realising the value. But as I say, we're a way off, and we'll update shareholders appropriately when needed"

Anyone who reads the BS being posted on LSE would do well to bear this in mind.


As for Atinos auntie Ellie.......words fail me.

[soulsauce] 14/2/2014 16:56

How can investors put GL in to the back of their mind Atinos when their investment has been devastated by Bell's ill advised expenditure on that folly. It's not affected him as he has continued to take his money while shareholders money has been p*ssed up the wall - are you for real!!

[fangorn2] 14/2/2014 16:32

Greenland farm out? I thought we were selling it?

[atinos auntie ettie] 14/2/2014 16:29

kezman, your question I recall is will a Greenland farm-out be to a set timetable. The answer is no a timetable is not set in stone, however flexibility is positive and there will be no repercussions if a 2014 campaign is shelved, as it very well could be. Greenland should now be put to the back of investors minds, however if any investor wants to speculate a deal will close in the short term and such talk encourages others to buy into what may be an undervalued share then that is fine by me.

[kezman01] 14/2/2014 16:18

OT

How very dare you !!

[kezman01] 14/2/2014 16:15

So you won't answer the question then.
Nice one.

[on target] 14/2/2014 16:02

Why not just employ people directly to ramp the company across the BBs? Could be good value for money.

[atinos auntie ettie] 14/2/2014 15:49

Perhaps the company shall look further into having message forums embedded into the website as was touched upon not too long ago. Expense/time may be outweighed by the ability to moderate unsightly posts whose apparent sole aim is only to mock the company and its staff.

[kezman01] 14/2/2014 15:16

Why dont you answer the question I posed on the RGM site a few hours ago ?
Surely you've had enough time to get the company approved response by now !

LSE posters are a combination of the trapped, the deluded and the stooges.
Anyone who bought RRR IS a servant to the company...they pay the wages.

[atinos auntie ettie] 14/2/2014 15:06

Why not buy to help offset that, or encourage others to buy which costs you nothing in terms of outlay whilst possibly assisting your own investment at the same time. LSE posters have learned that being a servant to the company can sometimes work to help your own corner.

[kezman01] 14/2/2014 08:42

YA short again.

[soulsauce] 14/2/2014 08:23

Atinos Aunt Ettie where did all this debt come from that is now been paid off with massive dilution at ridiculously low share prices to the massive destruction of shareholder value?

Oh yes it paid for GL and the massively flawed modus operandi of one Andrew Bell, a.k.a Ronald McDonald!!

And now he is looking for more projects to do it all again while GL slowly drops in to the background valueless!!