re: one year on...excellent progress
The run sheet looks like this so far (not in strict order):- 1.Enter into agreement re resources in a section of Somalia, a place ravaged by war and tribal dramas. Announce to world that jvs are likely to be in place in say 4-6 wks 2.Enter into such agreement via agreement with Consort, either do not conduct due diligence or if do don't bother to inform shareholders re Consort 3.Agreement (via Consort) is with semi-autonomous regional government in relatively peaceful part of Somalia 4. Get MEPS on board 5. Get rid of MEPS, with little or no explanation, and gift them a few zillion shares 6. Announce things in Puntland are "analogous to" Yemen and that those Yemen deposits have zillions of gallons of the good stuff 7. Downplay sovereign and political risk 8. Stand strong when TFG flops all over the place; 9. Sign up some connected Puntlanders 10. Hand over cash each month to the Puntland Govt; relinquish rights over some of the area in the agreement and sell it as a win 11. Hand over cash to help fix the airport 12. Sell most of interest in decent uranium project in a relatively stable country for a song. 13.Gift some bargain shares to Findlays 14. Sign up the hyphenated finance wizard 15. Sign up Sir Sam the wizard of all things mining and African 16. Gift some more bargain shares to Findlays 17. Propose that zillions upon zillions of shares be gifted to office holders, mega dilution 18. Obtain option to pay cash and zillions of shares to Consort 19. Pay hefty salaries to directors 20. Propose consolidation 20 to 1 due to embarrassingly low share price 21. Announce JV timelines are fluid 22. Love the rumours about deals already done 23. Give Findlays and their clients an incentive to keep the share price down and gift them zillions of bargain shares 24 Realise that fear of violence, political climate and Somalia in general is a factor putting some potential jv partners off the deals 25. Burn 10 million cash in 12 months without announcing a jv 26. Pump up the baloon of hope AIM, White Nile and All that Jazz Just a few comments on the year gone by:- 1.Most companies do not just gift millions of shares to directors. Most companies give the directors options to purchase shares at a certain price, and in setting that price give the directors an incentive to increase the share price so that they may then buy in under the market price. 2.Most companies do not give other parties incentives to hold down the share price 3. If these guys do not have something very substantial up their sleave, the company will face severe financial difficulty in the near future 4 I believe that sections of Puntland are near certainties for successful drilling, hoping RRS and JV parties who are not scared of risk can get in and have a go.
RRS Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
