Once again I’m laughing into my porridge this morning. It really does take the biscuit when ‘comrade’ Tom Winnifrith comes out with such utter shite on the complete and total failure that is Red Rock Resources (LON: RRR). You can read the twisting & turning by clicking HERE But it is good to see that Tom’s ‘lieabetes’ oops sorry diabetes is now under control and he’s back running to form. People often ask me why I deal with TW. The answer to that is this; Winnifrith, regardless of what you think of him and my thoughts on him are widely known, can when he occasionally purges the spite and poison that runs through his diabetic veins, write excellent articles when he so chooses. Sadly he suffers from subjective, selective, memory recall which all too often surfaces. He who pays the piper plays the tune. Come on down Lenigas, Lofgran, Bell and many, many more.
So when is a Death Spiral Finance agreement not a Death Spiral Tom? Apparently it’s when your bestest buddy whose been paying you tens of thousands of pounds over many years to promote his POS companys signs up for one. Red Rock have a Death Spiral finance with YA Global, commonly known as Yorkville. The euphemisms are aplenty in the shareProphets article, Alternative financing, Smart deal, This is not a death spiral, Cash to cash loan etc. etc. etc. Let’s forget the 15yrs of total failure and the misery that share-holders have endured since day one of the reign of Andrew Bell, known by investors and the City as #CalamityBell, the raising of many tens of millions of pounds, the flip flopping of the ‘story’ and the cold hard fact that this mining company has never opened a mine in 15 years! It is a lifestyle company to put it mildly.
Andrew Bell is a corporate crook if he wishes to challenge my statement then he is invited to do so through the Royal Courts of Justice, if he wants to debate with me face to face his disgraceful 15yr non-performance on TipTv or The FinancialFox then I will oblige.
Bell will use and say any and anything to negate the TOTAL, SHOCKING, DISGRACEFUL performance of Red Rock Resources. Even blaming President Obama… Ffs is it me or does anyone out there actually believe the utter cock that Bellend tweets and ramps? One only has to go back to their Initial Public Offering (IPO) to see just how many times the ‘Jackanory’ has changed here! Each and every ‘Jackanory’ used to ramp the fook out of the RRR share-price, each and every time placings aplenty and massive dilution and ultimately a resetting of the stock clock via CONsolidations. Oh and lets not forget the corporate largesse, just how much cash, stock and options has ‘Bellend’ had out of this company since day one? I seem to recall he awarded himself ‘performance’ options. Just quite what performance they relate to is a mystery…. Bit like the Bermuda Triangle. He’s made millions upon millions. Share-holders have been wiped out more times than I’ve had hot dinners. If RRR was a race-horse it would have been shot years ago to save on vet fees.
So for Winnifrith to be banging the drum that a Company that’s just taken on a $4,400,000 debt with a 13% coupon that is secured against the company assets, its shares and finances from known Vulture Financiers isn’t a Death Spiral shows the sheer bloody hypocrisy and the subjective paid for thinking that clouds the flawed genius that can be TW. There is one ‘constant’ when it comes to CalamityBell; Placings. Bell will run to form very soon and PLACE yet again, Rinse, Repeat. Ask yourselves this; What would a genuine Independent Financial Advisor (IFA) advise? Therein lies the truth…. Sell up and get the fook out.