Dear oh dear oh dear....OMAR!! You don't place a value on an asset that might exist, you place value on assets that are proven...ever heard of JORC....so applying an arbitrary £1m to IC is pointless...until it has value it is worth nil....meanwhile the rest of his pontification is empty rhetoric. Ifs, maybes...but the real clincher is the high risk, high reward. hands up any PIs who have experienced high rewards? The risk is with PIs - actually not a risk at all - it's a guaranteed cert you will lose your shirt...the rewards are all ABs and his cronies. Fo not listen to a word Omar says - he is inviting the gullible and the greedy to lose money and further enrich AB. So e might think this is al about Freemasons helping each other out. I couldn't possibly comment.
dont forget AGM Thursday - expect announcement in next 48 hours
Let's just hope it has nothing to do with Andrew Bell......unless we are buying a chunk of JMS with a view to them returning to market
but for now, let's pause and breathe....and consider one other piece of information....kansai mining was subject to a cease to trade order imposed by the Alberta AND british columbia securities commissions for failing to produce accounts...so how could any value be determined for its assets and stock?
SORRY.. So RRR now "OWNS OR CONTROLS OR HAS THE OPTION TO OWN AND CONTROL...37.96% OF KANSAI".....
The "a shareholder" was i believe Thomas Crom the FD - and the price per share paid $0.05...we will come back to that but according to the RRR RNS' ...RED ROCK RESOURCES ACQUIRES OPTION IN KANSAI MINING CORPORATION London, United Kingdom- February 1, 2012 - Red Rock Resources PLC ("Red Rock") announced today that it has acquired from a shareholder of Kansai Mining Corporation ("Kansan an option over 5,923,237 common shares in Kansai at an aggregate purchase price of the greater of (i) U5$0.05 per common share, and (ii) 85% of the amount of the valuation of Kansai's assets (to be undertaken by Red Rock), at any time in the next four years. The option is exercisable for $1. If the option is exercised, the common shares would represent in the aggregate approximately 4.94% of Kansai's issued and outstanding capital. After giving effect to the transaction, Red Rock now owns and controls, or has the option to own and control, 45,552,237 common shares of Kansai representing 37.96% of the total issued and outstanding common shares of Kansai. Red Rock acquired the common shares for investment purposes. Depending on market and other conditions, Red Rock may, from time to time, increase or decrease its ownership, control or direction over the common shares or other securities of Kansai. For Further Information: Andrew Bell +442074024580 or Red Rock Resources pic Chairman +447766474849 Sandra Spencer +442074024580 or Red Rock Resources pic Public and Investor +447757 660 798 Relations Phil Davies/David Porter +442074440800 Religare Capital Markets Nominated Adviser Nick Emerson +44 1483 413500 Simple Investments Ltd Broker Updates on the Company's activities are regularly posted on its website, www.rrrplc.com
but wait, there's more....the day before RRR said....RED ROCK RESOURCES ACQUIRES OPTION IN KANSAI MINING CORPORATION London, United Kingdom- February 1, 2012 - Red Rock Resources PLC ("Red Rock") announced today that it has acquired from a shareholder of Kansai Mining Corporation ("Kansan an option over 5,923,237 common shares in Kansai at an aggregate purchase price of the greater of (i) U5$0.05 per common share, and (ii) 85% of the amount of the valuation of Kansai's assets (to be undertaken by Red Rock), at any time in the next four years. The option is exercisable for $1. If the option is exercised, the common shares would represent in the aggregate approximately 4.94% of Kansai's issued and outstanding capital. After giving effect to the transaction, Red Rock now owns and controls, or has the option to own and control, 45,552,237 common shares of Kansai representing 37.96% of the total issued and outstanding common shares of Kansai. Red Rock acquired the common shares for investment purposes. Depending on market and other conditions, Red Rock may, from time to time, increase or decrease its ownership, control or direction over the common shares or other securities of Kansai. For Further Information: Andrew Bell +442074024580 or Red Rock Resources pic Chairman +447766474849 Sandra Spencer +442074024580 or Red Rock Resources pic Public and Investor +447757 660 798 Relations Phil Davies/David Porter +442074440800 Religare Capital Markets Nominated Adviser Nick Emerson +44 1483 413500 Simple Investments Ltd Broker Updates on the Company's activities are regularly posted on its website, www.rrrplc.com
so that's approximately 28.8% of kansai....