Red Rock Resources Share Discussion Threads

[m1sterx] 02/5/2022 20:45

RRR's Australian project is discussed here today, after 14 minutes and a conservative valuation after 34 mins




The commentator suggests a £6m valuation is fair game, RRR has 50%, if I recall Bell said he thought the project would be valued higher but market conditions must be taken into account.

Again it does make the current RRR m/cap of £4.5m look far too low.

[jlondon] 02/5/2022 19:20

Please NOTE carefully that an RRR RNS is NOT a guarantee.
Upon what A.B. said about "offer for our assets" via an interview with Proactive on Fri, 2 May 2022 [post Interims], if one were to hypothesise that this is
technically defined as a firm offer, then yes. However, we do not know the nature of this "offer" in stockmarket parlance. There are many rules relating to this.
So, all HYPOTHESIS is subject to clarification later.

Look at Vin Murria's offer for Saatchi for example and in recent times.
The Takeover rules are rather complex.

With regard to news in general, I believe co's can take up to 3 days.

So, best to wait to see what it relates to. Another example is AMUR. After a few days, an RNS came out to say that the social media speculation was correct ie there was an offer. But these days, an offer does NOT necessarily mean what we think in terms of English meaning. Hence, why I said UK TAKEOVER RULES need to be applied as to what the offer is or the gradation of offer.

Hope it clarifies given today, Mon, 2 May 2022 is a public holiday and the mkt closed, there is NO trading in RRR. No one would have taken notice anyway and one knows to wait for updates as and when or if. CAVEATS APPLY. DYOR. I listened to the interview once and usually if I want to make sure, I have to pause to take down the exact words so kindly listen and check ALWAYS. Errors CAN BE MADE in audio listening as sound is not always fantastic in the interview.

[kemche] 02/5/2022 18:27

Cannot wait for the RNS early doors tomorrow.

GLA STHers!

[jlondon] 02/5/2022 17:44

m1sterx
Thank you for the courtesy of your reply.

I do recall Ascent but will look up Fox relating to pro bono & RRR Congo to come.
I have to calculate like yourself the X times I am hoping for.
This is because I can then seize up the initial investment accordingly.

Yes, it is clear and I will check precedents at Fox Marble and Ascent given I only was aware the Ascent CEO was waiting for the settlement.

Zimbabwe lithium. The licence near Bikita mine appears not to be so difficult given Colin Bird could also get in but via someone else. However, NEAR ACADIA is really mind-blowing given Acadia lithium project was just sold to the Chinese for $422 Million USD. A.B mentioned this and the fact that the Chinese want to monopolise in Zimbabwe re: lithium. So, ready buyers if the lithium licences really turns out to be wow! This is what brought me here to RRR.

Then, I looked at the others so as to see what else underpins the assets. The Balance Sheet is helpful in this regard.

I have found JUNO to be the next Jupiter II if one listens to what A.B said in his recent Stockbox Media or that is what I think he is conveying. Gina the iron ore queen has just got in next door to Juno's Mt Mason. The Australian is discussing Gina's move and she says its no "IRON ORE BOOM FOLLY."

Acadia's management has gone into another lithium project and PREM folks said the stock is again UP. So, Zim lithium is really red hot.

Hoping for A.B to come back with his money from the lost Musonoi licence.

Thank goodness A.B has said that his swansong opportunity before he retired is via RRR.

J.London, Mon, 2 May 2022 [Hol]

[m1sterx] 02/5/2022 16:50

jlondon


The person to look out for is on the LSE, profile name 'Helpful' I believe he is one of the major shareholders in RRR and has contact with both Bell and the other major investors.

The matter of Red Rock is an intriguing one, the major shareholders who I believe have averages above .75p a share continue to back Andrew Bell, more-so recently, I can only deduce they are aware of value events occurring down the line which have been clearly outlined in the recent interview.

I have no interest in the past, I have no interest in others who probably bought at the height of the last sector boom and have been wiped out since (advice best ignore Kemche) My purpose here is to make cash along the same lines as Johnson did back in 2010.

In respect of the Congo, if you read Helpful's historic posts around the time of the illicit JV partner transaction you will see the actual claim RRR are pursuing is a value of the ENTIRE licence package of resource in the ground, he quoted numbers, I believe, in excess of $500m.

In respect of the prospective legal claim RRR has said this will be outside the Congo, probably financed by a Pro Bono route, look at Ascent Resources or Fox Marble for a similar situation.

Frankly I have no real interest in the very long term, a 5+ fold rise will do me, this could be attained near term IF a combination of news hits the ticker.

I expect to hear the following in this order

Cash/Deal (value $10m-$15m) from Congo
IPO Elephant Oil, could attain a post market value (to RRR) $3m-$4m
IPO Australian licences
JV in Kenya (Bell confirmed partner preferred)
JV or sale of the lithium project in Zimbabwe (how did Bell get such 'hot' licences?)


There is so much to lift value near term, the market has totally mispriced the company due to neglect/stale bull negativity/apathy etc.

N.B.

Andrew Bell said in a interview last year that he was at an age where Red Rock is his swansong opportunity to make real money before he retired, the timing is interesting.

[jlondon] 02/5/2022 14:54

m1sterx
Last night you posted about CONGO and A.Bell's trip out given his Fri, 29.4.22 interview on this subject matter.

BEFORE THE MKT OPENS, I would appreciate some thoughts on the $250m mentioned by the new poster on the other RRR forum.

You said that potentially it is possible that A.B will get nearly DOUBLE of the MKT CAP from Congo relating to MUSONOI.

Part of the RRR Musonoi licences runs into the MUSONOI SUPERPIT, Glencore.

Relating to the US$250m claim, A.B gave 2 bits of info:
1] "EQUAL LICENCE/SPLIT PROPERTY" -usually this is in lieu sort of thing when this type of comment is made as norm.

[2] "LITIGATION OUTSIDE CONGO FIT FOR US$250m."- So, which is the more
logical? To have an idea only, on has to know the background especially if one has read the Congo 2 court cases already won relating to Musonoi. The Court papers will mention the defendents and therefore one can resarch further into their past
history of whether they settle in any way or wait for litigation etc. I have research ENRC of which First Quantum got a settlement of $1.25 bn out of a claim for $2.5billion.

Any views would be welcomed of the empirical to date in Congo mining settlements.

J.London, Mon 2 May 2022 [public hol and mkt closed].

KEMCHE
I will take a look and if I find something I will let you know. Thanks.

[jlondon] 02/5/2022 14:46

"OFFER FOR OUR ASSETS"-AB Interview, Fri, 29.4.22 [After interims]
Quite interesting. PJ bought PILOT MOUNTAIN [tungsten in Nevada, USA]. He mentioned this on this Sat, relating to the coming upcycle in commodities on Stockbox Media.
He was talking of cycles.

Straight away, I recall PILOT MOUNTAIN and checked. True enough, it was BOUGHT.
This is rather clever given that one can have an IPO vehicle with early exploration projects only. This is a potential spin IPO. I recall there are other US projects in this coming IPO.
----
AB: "OFFER FOR OUR ASSETS." 29.4.22 INTERVIEW, PROACTIVE after Interims.
Given the Sunday Times article about who owns the earth, it was about commodities and it was also all over Twitter. I could NOT get a copy as it was all sold out.

SO, NO SURPRISE THAT SOMEONE/CO MAY HAVE OFFERED FOR RRR'S ASSETS. Prior to this interview, I said that RRR's ASSETS ARE AT A MORE ADVANED STAGE eg JORC rather than just licences in some cases.

Case in point: MIGORI, KENYA -won back after litigation by RRR.
SI Capital broker note in 2020 said "1.2moz GOLD JORC. S K Y BLUE POTENTIAL."
"Does not include small tailings." AB once said the target is 1-2moz but can turn to 3-4moz. Barrick Gold 's MINA MINE is TIER 1 WITH 10MOZ GOLD near RRR's Migori or near on trend? Now, this is useful to any co. I would not mind if this is being offered and paid in some cash and stock which can be sold as mark-to-market.

In an upturn of the commodity cycle hopefully, early exploration projects ARE NOT AS GOOD as those with JORC and with greater potential, SKY BLUE IS EVEN BETTER.
Words from SI is of interest given Charlie S. is a Geo.

So, enough on this topic but just an example.

[kemche] 02/5/2022 14:35

"I concentrate on what was said."

If you go back far enough you will discover what was said by Bell - repeatedly. ALL of which came true.

[kemche] 02/5/2022 14:33

Excellent research again jlondon. Much appreciated.

Have you checked CRCL which has $1 trillion worth of Nickel according to one "researcher"? Or even POW where the combined total of all their projects could be worth an estimated $10 trillion?

I would appreciate you thoughts. Thanks again.

[jlondon] 02/5/2022 14:25

Yes, I did see Greenland.

However, as a new investor, I keep an open mind. I concentrate on what was said.
However, I am not privy to what is being offered and who the offeror is.

I am here for the duration of the few projects I am interested in which are of significant in terms of size as I mentioned. I have GONE THRU the portfolio as much as I can from S.I Capital, First Equity of recent times.

So, as far as I am aware, the ASSETS are in order of GRADATION relating to size etc.

CONGO
On the other forum, last night, the new poster said that A.B might be getting back property [referring to A.B 's interview on Fri, 29.4.22 re: EQUAL LICENCES /SPLIT PROPERTIES which may replace the US$250m claim]. All para phrased by the poster explains it in a better way. So, look forward to A.B. trip to the Congo relating to the $5m +$15m cash payout if possible [50.1% to RRR].

MY METHODOLOGY:
Once I no longer think any co has prospects, I dont wait to sit on the stock. I sell and move on and never think of it again. Its healthy to keep a professional
outlook - positive mind but with analysis of $$$ relating to the co's portfolio.
Many stocks like GGP, XTR, SOLG etc have projects undertaken during the lean bear years that have not paid off ie they did not strike it big. Then, one day, when their mkt cap is near shell, they take on a new project eg Havieron, Bushranger & Cascabel and their fortune change if they find a TIER 1 = multi million mkt cap [3 digit]. This is the case for GGP and Solgold. XTR rose from 1p to 9p but has not yet produced the resource statement yet so have to wait.

ANY JUNIOR EXPLORATION CO- Fortunes can change overnight depending on the SIZE of the deposit and commodity price of the resource -ANALYSIS in depth will be helpful.
A.B once said, investors will come round if there is a big resource eg CONGO at the time of the JV.

True but alas, it got taken under them.

2nd chance coming up so here's hoping. J.London, 2 May 2022 [Mon, public hol. Mkt closed].

All the SAME THINGS said about GGP, SOLG AND XTR and then one day, fortunes changed. How? THEY FOUND SOMETHING BIG IE TIER 1 FOR GGP AND SOLG and their mkt cap from shell to MILLION MKT CAP [ T H R E E DIGIT].

So, for those new, we only DISSECT THE RRR PROJECTS and the Annual Report 2021 and Interims, 29.4.22 REFERS.

[kemche] 02/5/2022 11:43

jlondon - excellent research as always. Cannot wait for the RNS tomorrow for OFFER of our ASSETS======

Luckily we have precedence here. I am sure your in-depth research will have revealed some other such instances for example LEMON and GREENLAND. The latter "ASSET" was famously sold to some unidentified Russkies for countless millions but alas their money got stuck in Cyprus which Bell is still waiting for. Once it became clear that AB had been taken for a patsy he was left with no other choice but to take the shareholders for patsies too. Ultimately AB sold the ASSEST for a very reasonable sum of £1 (or possibly $1) which was deemed by him to be a very satisfactory return. ALAS as part of that sale agreement RRR ended up retaining the remediation liability which still costs us approximately £11,500 a MONTH! See not 5 in the latest 6 monthly accounts.

LEMON was sold even more successfully.

Then there was Amulet, Steelmin, Sweet factory, cloud computing etc, etc, etc. All successfully.

[jlondon] 02/5/2022 11:15

Andrew Bell: CEO, RRR
"OFFER for our ASSET S."
Ref: Interview with Proactive Investors, Fri, 29 Apr 2022 after Interims RNS.

When an offer is mentioned at an interview, it usually is taken to mean that an offer has been put to the co. In this case, the word assets means more than 1.

One also assumes that if an offer is mentioned, it would be REASONABLE to be able to pass the "FAIR VALUE" test as the implied regulations would deem it good practice - which Nomad/Broker can pass?

If it is merely early discussion, then it may not have the SAME STATUS as "OFFER FOR OUR ASSETS."

It appears it is a DEFINITIVE STATEMENT of "OFFER."

As such, it has to be RNS'ed tomorrow as norm given it has already been mentioned already by A.B post interim update.

J.London, 2 May 2022 [Monday, public holiday, stock market closed in London]

[kemche] 02/5/2022 11:05

I'm all in for 19p.
GLA STHers!

[m1sterx] 02/5/2022 09:25

Paul Johnson has been active on social media over the Bank Holiday (Stockbox) he believes the junior exploration sector is on the cusp of receiving a wall of money, on that basis I would not rule him out of making personal investments in the likes of Red Rock and others.

Remember Johnson bought Red Rock back in early 2010 when no-one was interested at a price of around 2p, he sold late November of the same year around 19p, during his Mining Maven days he mentioned Red Rock many times and how the company made him wealthy.

Mining Maven used to be very close to Red Rock and Andrew Bell, in fact RRR were one of the first supporters of MM, they used to hold investor events in London monthly and Mr Bell would always attend even if RRR were not promoting on the night.

One has to conclude that PJ and AB still have close ties, with Andrew Bell about to embark on a trip to Congo one might be inclined to suggest a few individuals close to him may have a clue as to what he may bring back, he is pursuing twice the current m/cap in cash, now is NOT the time to be out of £4.5m valued Red Rock equity.

[noirua] 01/5/2022 17:20

29 April 2022: Andrew Bell from Red Rock Resources joins Proactive to talk through what’s happening in Congo, with the Elephant IPO and in Australia and elsewhere

It's a long list as there’s a lot going on says Bell, who gives a detailed update on all of the developments.

[kemche] 01/5/2022 09:13

jlondon, Heartfelt thanks for yet another piece of deep research.

[jlondon] 01/5/2022 00:58

ANSWERS:

[1] The Australian IPO. As far as I am aware from reading POW's PJ, its only licences applied for. RRR dont tend to BUY but merely apply for projects. So, normal licences fees apply for the country as norm to the State Dept for Mines.

[2] West Africa
Yes, I have now found out from the RRR Annual Report that it is BUKINA FASO AND COTE D*IVORE and that they have found some good geo's. I understand they have applied for LICENCES.

[3] Always something we could sell. NO, NOT RRR SHARES if one listens to the Proactive Investors interview with Katie Pilbeam on Fri, 29.4.22 post RRR Interim RNS. Any proof? From the last results, there has been NO RAISE ie placing. Why? Must be RRR sold some shares that are marketable. As I said, the new poster on the LSE RRR said the big shareholders dont want a placing. Easy to understand why. AB was aware that given a low mkt cap, it is not ideal but the MUSONOI got taken otherwise RRR would NOT be in this position.

[4] The state wants to know who to pay to.
Yes, in the 1st place, they must have it in WRITING and agreement + check title etc again including court papers.

Yes, there can be errors in payment ie parties. There are other JV partners as well. From what A.B said, he is flying out to ask for EQUAL LICENCES/SPLIT PROPERTIES as well. Hope this can be successful.

[5] TIMEFRAMES. The said new poster is being realistic instead of giving folks a wrong idea that it is tomorrow kinda thing. From the ENRC settlement with FIRST QUANTUM in a similar case via international arbitration in Washington and Paris, it took <2 years for them to settle. No deals whether they lost the case so one assumes it is voluntary settlement given ENRC was a FT100 co.

[6] Migori.
A.B explained that after doing the JORC at 723k oz of gold, either one goes further which is going to take time and wonga, the natural step is to look for a partner. I found out the potential is much higher for the target. I posted this elsewhere.

[7]"OFFER FOR OUR ASSETS" -A.B.
Yes, I note it is ASSETS [plural] if I hear correctly from the interview.
Kemche: Is AB proposing to buy the assets?
I am NOT privy as an ordinary pi. However, there are REGULATIONS about that.
I doubt it but I could be WRONG given that's just my guess, nothing more.
Doesnt seem logical. The buyer would be someone who can take it further ie
or develop it further or if it is a BEAN-COUNTER, then extract VALUE.

[8] Billions of shares.
No, it is not about billion of shares. IT IS ABOUT MKT CAP from my perspective.
Co can have 5 shares like trust co but the WONGA OR CAP is still the relevant.
We can disagree on this as I know that is the popular sentiment. Big co's have lots of shares as well. There can be CONSOLIDATION but Kiran Mozaria is aware that consolidation is not ideal as people like to buy penny stock in the UK. Consolidation is ideal if there is a CATALYST EVENT. KDNC has consolidated and not popular when it is in double digit pence rather than single digit pence.

[9] Doing research in 2-3 days. It is my own personal view that prices dont always hold and therefore I tend to scale in a bit rather than jump in. So, I cant wait too long and I was right given A.B gave the interview on Fri, 29.4.22 so there is
possible news to come on many fronts eg Zimbabwe lithium licences etc.

[10] I have other stocks to look at so hence why I want to complete everything whilst the price is still at this range. I dont want to buy any higher.
No GUARANTEE in life when it comes to stocks. It can move sideways or it can move in a range given it depends on NEWS FLOW and if significant, then, sentiment can change.

[11] Today, Midas tipped JLP. It is about 15p [little over]. I checked the price.
I then went to Google Finance and found that it was once £1+ but I didnt take down the date and exact price as I am not interested. I also find that in more recent times ie bear commodity market, JLP fell to 2p+. I dont tend to buy when it has already gone up 7 X. Same for RRR - the lowest was 0.31p this 52 wks. I didnt catch it then. So much to look into relating to the investments, JV's of RRR plus Congo etc. Yeah, at @0.35p, RRR MKT CAP IS £4.2MILLION VS THE ASSETS $$$ IN THE BALANCE SHEET PER A/R Dec 2021 and INTERIMS 29.4.22. Risk v reward and all that.

[12] I cant GUARANTEE NO PLACING, share price WILL RISE, share price CANT GO DOWN FURTHER IF NO NEWS FOR A WHILE AND PEOPLE SELL IE STALE BULLS ETC.

[13] I look at MKT CAP - £4.2 Million could be considered SHELL.
The LSE new rules is that any AIM CO HAS TO HAVE A MKT CAP OF £6M.
So, many tiny stocks with smaller mkt caps under £6m under the old regime and still around can be RTO vehicles.

[14] I look at assets and how the mix between funds vs exit strategy.

[15] I shared freely my research. On the forums, I noticed that very few people are sharing RESEARCH. Maybe, my posts are long with reference etc ie factual but they form a picture so that anyone can see if there is a case or not. Most of the forums I find is noise about the CEO etc so there is little one can see.
If no RESEARCH IS BEING SHARED, then hard to ASSESS VALUE OR PERCEIVED VALUE.
HAD I NOT CHECKED MUSONOI IN DETAIL IE US$125 BILLION IN SITU VALUE IN THE GROUND BY RRR'S CONSULTANT GEO, I WOULD NOT BE INTERESTED IN RRR. Why? There is NO
potential TIER 1-2 ASSET that is MATURE. I also re-check against the other majors near RRR's MUSONOI and from the map, they are large enough deposits.

I have had to GO THRU EVERY SINGLE ASSET IN DETAIL and I have now got to the bottom of MOST of the bigger assets.

The new poster on the LSE [not me] is correct in that the iron ore, litigation and Migori is of interest. Elephant Oil is not a game changer he said which I agree.
It could be if it hit big oil but then the prospectus has not come out yet although initial filing may have been done if I read correctly from Seeking Alpha.

As they say in the stock market, ALWAYS EXPECT THE UNEXPECTED either way.
NO GUARANTEES for any stock.

I have finished my research - I have decided it is wiser not to post research any more. Why? There are many naysayers and nothing will convince them as it was in GGP or Solgold which have found Tier 1 deposits and their mkt cap has gone to TRIPLE DIGIT MILLIONS. Ah, NOT SAYING RRR is in that category as RRR tends to mimic
a investment vehicle ie with JV's and investee co's. GGP and Solg tend to be pure exploration plays with 1 single exploration play - the capex is terrific and not many can find the capex so advantages and disadvantages. Why not to post research?
Too tiring with legacy holders etc. Like PJ says on Twitter, people wont buy when it is cheap but CHASE when it goes up. Same with GGP - folks bought at 40p + and today 13p+.

PJ has done an interview on Stockbox about his experience as a pi - he talks of exactly the same thing ie share price rises and fall or decay over time.

I tend to be respectful to everyone but some dont follow this rule and one does not like ....So, best to live a quiet and peaceful life. In time, the NEWS WILL COME OUT FOR ANY STOCK - then I notice people start chasing. Eg? CLON was the No 1 riser and people started chasing. Good thing it did not fall back after 2 days of massive rises ie almost 1 x bagged. Even SMALL CAP MOVERS of This is Money wrote on this that it is a "RARE" occurence for a stock to do a placing at 0.25p and RISE to go to 0.43p. Reason: Going into an advanced gas project in Australia and raised £3m on a £3m mkt cap. Stock placed in Australia.

With that, I take my leave and happy investing for whatever is most appealing.
For me, it is counting beans.

30.4.22 J.London.
Rushing off now. Sorry that I have no time to edit, check typos etc

[kemche] 30/4/2022 12:51

'Migroi - Kenya. This asset has a JORC of some 723,000oz gold and therefore, a partner is being sought' Any idea how long they have been looking for one?

'Victoria, Australia -Ballarat
A.B said IPO is not strong.' Any idea how much they paid for it to get an idea how much it may be worth?

'West Africa.
A.B said he is looking for people to come in. I think this is the ZIMBABWE' Has Zimbabwe moved recently to West Africa?

'The state co wants to know WHO to pay to.' Can AB not provide them with the bank transfer details? Has he mislaid them?

"OFFER FOR OUR ASSETS."-FROM A.BELL. - Is AB proposing to buy the assets?

"ALWAYS SOMETHING WE CAN SELL."-A.B - could it be shares?

'I am personally happy that A.B has grasped the mettle and is cognisant what needs to be done.' I believe I speak for all shareholders that we too are happy.

'However, note that on the LSE RRR, the new poster had a TIMEFRAME and he said earlier would be NICE. So, note that.' - NICE indeed!

'Normally, I would have taken WEEKS but in this case I had to do it over just 2-3 days and hence posting was very frequent at these stages.' You have done a tremendous job in a mere 2 to 3 days and for that we commend you.

'I can sit back now and watch with less work to do.' - Very much like AB in that regard.

'I also found out from A.B's Linkedin, he is a Non-Executive Director of Jupiter Mines?' - That is truly deep research.

'I am not very up-to-date with the iron ore in detail' - Oh pish-posh jlondon! Your false modesty will not wash with us!

[kemche] 30/4/2022 12:36

My debt of gratitude jlondon for such in-depth research. Truly appreciated.

'He is a bean counter after all ie PJ.' Many a RRR shareholder has been reduced to counting beans over the last 20 years. 30 billion of them to be precise.

[jlondon] 30/4/2022 12:23

RED ROCK RESOURCES
What I said about RRR needing to RESTRUCTURE has been taken on board by Andrew Bell, CEO of RRR in his latest interview with Katie Pilbeam, Proactive Investors yesterday, Fri, 30 Apr 2022.

Why the need? The mkt cap is around £4.2m and regular type of funding was NOT suitable due to the dilution factor.

A.B said yesterday in answer to Ms Pilbeam's question of how it will all be funded ie projects mentioned in the interview. A.B said there is always SOMETHING TO SELL. Is this correct? Yes, the exploration assets/assets are around £13m/£17m. Therefore, it appears assets are far more than liabilities per the INTERIM RESULTS RNS issued yesterday. See, assets minus liabilities etc as I only had a very quick look and everything is from recall, not notes.

WHAT IS THERE TO SELL?
[1] Migori - Kenya. This asset has a JORC of some 723,000oz gold and therefore, a partner is being sought which is reasonable given the gold situ.

[2] Elephant Oil
A.B explained that 1 shareholder is to be removed. Also, it is a high calibre board. One poster on the other forum was initially of the view that the shares would list at US$1. There are certain rules on the American Exchanges eg Nasdaq and the various categories or OTCQB etc. Certainly, there is a MINIMUM in some cases and mkt cap. It is NOT like on the London Stock Exchange.

[3] Victoria, Australia -Ballarat
A.B said IPO is not strong. The geology is the thing to unlock. Is mineralisation below the water table given the Victorian couldnt get to it in Victorian times?
Mineralisation to surface appears to be in veins and reefs and hence method of extraction is a moot point. The existing Ballarat mine nearbyish uses underground tunnelling. I have seen the video of a train like vehicle.
So, this is still early days.

[4] West Africa.
A.B said he is looking for people to come in. I think this is the ZIMBABWE lithium [2 licences, one near Acadia & the other near Bikita mine]. Zimbabwe is hot for lithium exploration and Colin Bird has also gone in to Zimbabwe lith.

[5] "MONEY BACK FROM CONGO"-A.Bell.
A.B said he has to fly to the DRC relating to the $5m +$15m. [50.1% or 51%? Some places quote 50.1 whilst others quote 51?] The state co wants to know WHO to pay to. AB said he wants EQUAL LICENCES B A C K or SPLIT PROPERTIES.

RRR has already WON 2 cases in the Congo over this matter. I recall somewhere the carry in the books is only £600k approx? This appears that impairment had been written down over the years?

----------------AB: "FIT FOR $250 MILLION" OUTSIDE THE CONGO------------
This will relate to litigation outside the Congo, DRC. AB mentioned an INTERNATIONAL CO. I have found out who this is but think better not to mention at the moment. So, is this 50.1 or 51% or is it 51% of $250 Million? I am not clear - so if it is US$250M TO RRR, it is around 47x [$250m] or 23x [1/2 of $250m ie 51% to RRR] of the current market cap at 0.35p = MKT CAP £4.2 MILLION. I have not checked the sums-note it is at yesterday's FX.

[6] "OFFER FOR OUR ASSETS."-FROM A.BELL.
A.B: "LIQUIDITY EVENT." "LITIGATION."
Mr Bell did not elucidate WHO IS OFFERING FOR RRR'S ASSETS [PLURAL] and given it is an interview, he will not have been able to give more details anyway and that has to be RNS' ed when it comes.

[7] "ALWAYS SOMETHING WE CAN SELL."-A.B
In answer to Katie Pilbeam as to how it would all be funded?

I am personally happy that A.B has grasped the mettle and is cognisant what needs to be done. In short, the above shows more open clarity as to where the more mature assets stand or may stand.

Re-structuring therefore has begun. The market has fashions and at the moment it is lithium in Australia and hence gold does not have that much allure for investors.
Aussies are chasing the PILBARA lithium story, W.Australia.

Yesterday, a small AIM co raised £3m vs £3m mkt cap and placed the whole £3m with AUSTRALIAN BROKERS for an advanced GAS PROJECT in Australia potentially. This co did not have to DUAL-LIST so obviously the gas story is hot and therefore, it could be
that Aussie high net worth investors bought.

I had to do a cramer and therefore ONE MISTAKE over the POW shares as I was so concentrated over PJ selling RRR at 17p, it was fixed in my mind. Why a cramer?
It comes down to how much each asset/s can realise via JV, spin out, sell etc.
Normally, I would have taken WEEKS but in this case I had to do it over just 2-3 days and hence posting was very frequent at these stages.

No point, not matter how cheap a stock is unless one can STRIP OUT THE ASSETS
and realise value or better still, a LIQUITY EVENT. However, note that on the LSE RRR, the new poster had a TIMEFRAME and he said earlier would be NICE. So, note that.

With thanks to A.B & P>J as he may be possibly in for the 2nd bite of the pie.
He is a bean counter after all ie PJ.

I am happy with A.B's more forth right assessment in his said interview yesterday. So, thank you for having me. I can sit back now and watch with less work to do.
I also found out from A.B's Linkedin, he is a Non-Executive Director of Jupiter Mines? Wonderful that Gina, the iron ore billionaire has bought 9% of the next door to Mt Ida [Jupiter?]and has the option to take it to 51% and Juno has a high grade iron ore project. I am not very up-to-date with the iron ore in detail yet but happy to leave it for now.

J.London, Sat, 30 Apr 2022. Not checking errors/editing at the moment as its lunch time.

[jlondon] 29/4/2022 19:11

-------ANDREW BELL: "FIT FOR $250 MILLION."-------
Re: Litigation for DRV JV 51% of MUSONOI, DRC "outside Congo."

£1=U$1.62

---------US$250M = £198.4 MILLION VS £4.2 MILLION RRR MKT CAP @0.35p----------
= 4 7 X.
or 51%= £101.84 Million to RRR =23x.
[I am not sure 100% whether $250M represents 51% of RRR's claim or
its 51% of $250M.?]

Ref: Andrew Bell, CEO, Interview with Katie Pilbeam, Proactive Investors, Fri, 29 Apr 2022.

RRR WEBSITE
Musonoi per RRR Consultant Geo: Situ in value in the ground US$125 Billion from 83 drill assays, 750 pages of reports + historical data.
Miningcamp said someone close to the largest shareholder in RRR said some time ago that conservatively, litigation is $100 Million to $500 Million, so $250M per A.Bell is reasonable.

J.London, Fri, 29 Apr 2022.

All clear so no need for further research.

[jlondon] 29/4/2022 17:01

ANDREW BELL INTERVIEW
Fri, 29 Apr 2022.

Fab interview. Would have saved me so much time since its from the horse's mouth about DRC litigation [the info was really superb], Kenya, East Africa, Elephant Oil, Australia and how all of these are going to be funded as asked by Katie Pilbeam of Proactive Investors today.

The most fantastic interview I have heard for a long time as A.B is very open about the said projects and more importantly the litigation.

Have a listen. Thanks to Trojan for posting the link on London South East RRR forum today.

[kemche] 29/4/2022 16:12

jlondon, All the projects are huge.