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"Drilling success"? Drilling what? They have not announced a drilling program yet, have they? Can you expand a little, please?
If you can provide some verifiable details regarding a drilling program, I would be happy to include them in the iBox.
What I'd like to add to the iBox is relevant, verifiable information that is not readily available as PRs.
TIA
I believe that actions speak louder than words.
DUMPING 400,000 shares at the market price close to the 52 week low is an action that seaks of desperation, not confidence. Since that DUMP of shares, the volume has dropped off to practically nothing.
If a someone else was to DUMP several hundred thousand shares at the market, the stock might very well be under a penny quickly.
Yes, actions speak louder than words.
The last part of the comment you quoted pretty clearly said. "I wouldn't expect Asswell to hold any longer than necessary."
Tapiwa seems to have sold shares without any filing.
The $36 end of day trade might make the chart look better but I doubt that it will fool many.
Can we assume that bad news is coming?
What caused you to lose faith in the company that you would sell so near the 52 week low? Do you have information to share that other investors should know about? This is an appropriate forum for sharing information about RRHI, the stock and the Company.
It certainly looks like you may have DUMPED your shares at just the right time. No volume to speak of since your dump and the bid has dropped significantly.
If a couple more follow your lead, this could be under a penny mighty quick.
Here is my post again.....
Let's see, the "boiler room" has sold a little more than $600,000 worth of shares to the suckers since Alf started his operation.
They've also issuec millions of shares for paid pumps and other "services" and they've given away several millions more to the Gurupiras. Tapiwa's apparently dumped the shares he got for Ontage already so I wouldn't expect Asswell to hold any longer than necessary.
John, my guess is the stock will go up and down for quite a while but more down than up, as long as they can sell shares.
I think the only people who will make any money on this are a few astute traders and the people who get their shares for free.
'Tougher Indigenization Regulations for Zimbabwe Mining Sector Forthcoming' - Voice of America
Sources familiar with the new regulations said they will stipulate that all mineral development enterprises must be 51 percent owned by indigenous - i.e. black - Zimbabweans - while alluvial diamond deposits must be entirely controlled by such indigenous investors.
The government of Zimbabwe will soon publish new indigenization regulations proposing to oblige foreign-owned mining concerns to sell a majority stake to indigenous investors.....
---------------------------------------------------------------
Instead of selling 51%, they PAID Gurupira to to take a 51% interest in the Dodge mine operation.
If it was really worth anything, shouldn't HE have paid THEM?
Perhaps the answer to the above is what caused the DUMPING of 400,000 shares and the subsequent drop in interest. One can only speculate on why a former ardent supporter would DUMP his shares so precipitously?
Not 51% of Dodge mine but 51% of the Dodge mine operation. There is a difference. Here is a link.
http://ih.advfn.com/p.php?pid=nmona&article=53847139
kjb76 asked,
I think this stock is a poor investment. I believe it started out with misrepresentations by the company and its management which I've documented in the iBox above.
I don't believe the tiger will change its stripes and I have not changed my opinion. I see no reason to be silent about my concerns.
If you wish to take issue with something I said, please address that subject specifically.
Perhaps another reason is that one of the biggest "boosters" of the stock recently DUMPED more that 200,000 shares at the BID, sending the stock to its recent low. Followers are naturally going to be hesitant.
Then too, no one has yet been able to come up with any good explanation for why Raptor [RRHI] and Mabwe [MBMI] had to pay Asswell Gurupira to take 51% owneership of the Dodge mine operation.
If it was really worth something, shouldn't HE have paid THEM?
That sure smells like old fish on a hot day. { 8^0
I NEVER said RRHI would STAY in the pinks. To say different is a gross misrepresentation of fact.
What I said was that they were still in "stinky pinky land". Which was 100% accurate at the time I posted it. It was not until the next day that they were upgraded to OTCQX.
My post is right here for all to see.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79357038
The next day, in the very next post, I was the first to post that they had regained the OTCQB tier.
That post is right here for all to see.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79364432
It's just too easy when the truth is right there..... { 8^D
General lack of interest perhaps? Much has been promised and nothing delivered.
They even had to PAY Gurupira to take a 51% ownership position in the Dodge mine operation. Maybe investors are waiting to see how much the company will give them to take a small percentage position. { ;^D
Back to the OTCQB tier. The drop to the Pink-Limited Information tier didn't seem to hurt the stock very much.
Actually, still in "stinky pinky land". That's why they didn't get the "E" appended to the symbol, I believe they went straight to stinky pinky land for repeated late filings. I asked why they had not received the "E" and was told by FINRA.....
Yesterday, I commented on the 400,000 shares of RRHI "dumped" on the BID yesterday morning. You responded,
You say you dropped at least 200,000 shares at the market bid. The second 200k went off a little lower.
That seems to indicate you've lost your "faith". What happened to change your mind?
Oops 400,000 shares dumped on the BID, of course, not the ASK.
Relax, 400,000 shares were dumped at ask ... 0.017 and 0.0167.
The rest is just "window dressing".
It's still just a "Stinky Pinky".
Yes but by dropping to the pinks, it seems to have missed any "notice" penalties....like having the 'E' appended. Some investors I've talked to seemed completely unaware that there was any problem at all. They kind of just slipped under the radar of many.
RRHI failed to file their latest 10Q. I expected an 'E' to be added to the symbol. When it was not, I asked the SEC why. This was their response.....
No new talk of target dates for gold production from the company. Perhaps they have run out of excuses.
Here's an idea from the DD Support Board and Fraud Research Team that might help Alf..... { 8^D
For questions (or complaints) regarding stocks, they usually get back to you fairly quickly.....
http://www.sec.gov/complaint/question.shtml
Why would you say that? According to the 10Q just released, the company has no assets whatsoever. The parent company is evidently in trouble as it has failed to release its own financials.
The only thing this company has to sell right now is a "story". Much as someone might wish to buy with "confidence", broker's want real "money". { 8^D
Informed second opinion.....
If the ledger has been kept up to date (which it must always be), the financials are practically done. If the ledger has not been kept up, the CEO should fire the CFO for incompetence. { 8^D
Alf supposedly has a BSBA. Part of the requirements for that degree is at least a good knowledge of the principles of financial accounting. He should have had no trouble keeping up the ledger no matter where he is.
Some of the "boosters" are trying to excuse the deliquency by saying the CEO has been too busy (he's also the CFO). The company has no revenue and virtualy no operations. The unaudited financials should take no more than a week to prepare. Much less if the preparer did last quarter's reports.
I don't see any advantage to delaying the report other than avoiding an inconvenient disclosure. Do you?
I do have experience with quarterly and annual reports. They can be time consuming and expensive to produce for a large company with varied operations, producing revenue, using inventory, paying large numbers of employees, keeping track of benefits and a possible large number of other items.
RRHI has none of these problems. Their unaudited quarterly reports are simple and straight forward. To someone unfamiliar with accounting, it may seem daunting but to a professional they are simple.
Part of the CFO's job is to see that the necessary reports are done on time. Perhaps Alf is learning the difference between being CEO/CFO for a shell company that only exists on paper and a public company (even if it only has minimal operations).
Incompetence sticks out like a sore thumb.
While it is true that a few reporting companies have a CEO and CFO who are one and the same person, the great majority of those are competent enough to produce a relatively simple quarterly report. At the very least, competent enough to hire someone who can get the job done.
If they have a "professional accounting firm", as you say, why have they not produced the 10Q? Any competent CPA should be able to produce the company's unaudited financials in a week. A couple of days at the most if he did the previous quarter.
No, the excuses ring hollow. The far more likely reason is to avoid an "unwelcome" disclosure. The SEC periodically reviews every reporting company. Because of the greater opportunity for shenannigans, many believe that non-SEC reporting companies shouldn't be allowed to trade publicly.
1manband, RRHI recently dropped to Pink - Limited Info for failing to file their latest 10Q. Their financials are not that complex.
After reading your post, I'm thinking they did this on purpose to avoid disclosure. It has not affected their trading, though I think it's being manipulated upward prior to a pump PR campaign.
The "drivatives" that were involved with the old Raptor Networks were reported in the MBMI 10Q. They have absolutely nothing to do with RRHI. The two companies MUST maintain separate books and accounts.
They do have a CFO. Alf has chosen to fill that position himself.
If he is incompetent to hold the position, that shows a lack of good judgement on his part and is indicative of greater problems with his management of the company.
In the post to which you responded I said,
The last thing I heard about the MOU was that it had fallen through.
No backup or link was provided for that statement either, but we haven't heard anything about it since then which seems to lend crediblilty to the idea.
In the mean time, it appears as if the company has something to hide. Hence the failure to file the 10Q. Perhaps they're trying to put off disclosing bad news.
gsj50,
You stated,
RRHI was dropped to the Pink - Limited Information tier when they failed to file their 10Q. Their financial reports are not that complicated.
I'm guessing they were caught between a rock and a hard place on SEC disclosure and chose to go with non-disclosure over orange jumpsuits.