Red Rock Resources Share Discussion Threads

[bam bam rubble] 28/7/2019 13:50

Para's news releases show how unrealistic their made-up production targets have been;

El Limon 2017 production guidance 15,000oz ...Actual 663
El Limon 2018 production guidance 25,000oz ...Actual 1426

This year looks similar. For 2020 Para initially cut their made-up number to 7,000oz
plus 3,000oz from new mine portals, but all production targets have now been removed.
“Proposed production figures for El Limon are retracted as these were unsupported by
a reserve or resource, therefore have a higher risk of economic/technical failure.”
This was actually made clear in the third party report issued after they acquired it;
“There are no demonstrated reserves or resource at El Limon which means there can be
no reliable estimate of production.”

A more realistic target would be another year's production then maintenance/shutdown.

[kemche] 27/7/2019 14:49

Hilarious stuff Noirua!

[noirua] 27/7/2019 14:16

The stakes in Curzon Energy and metallurgical coal miner MET will not be core assets going forward and Regency will look to sell them in due course, said Scott Kaintz, chief executive.


It looks increasingly certain, imho, that RRR Coal Limited - 100% owned subsidiary of Red Rock Resources PLC, is being lined up to acquire Regency's coal assets.


Noirua - 11 Mar 2019 - 09:37:05 - 15447 of 15810 Regency Mines 2010 and beyond - upside limitless - RGM
Metallurgical coal is being sold at under US$37 per ton and should be sold at US$70 to US$120 per ton. Something is wrong here if they are obtaining a price that is low even for medium grade thermal coal.
RGM can sell their shares in RRR to bring in some emergency funding. Even the rubbish metallurgical coal from Slovenia sells for over US$62 per ton. Big question marks at this point.


RGM has a 1.69% interest in RRR. Corrected as website is out of date?
At 0.65p worth £66,000.
Holding in Curzon Energy is worth about £100,000.
ABM or RRR may be interested in the battery interests but any deal would not be at arms length.

I do not hold any shares in RGM.

[noirua] 27/7/2019 12:19

Thanking you most wonderfully for all that Torp. You are at your best when riled.
Glad to see d_s_ did well, like myself, in JMS and shares bought at about my own average price. Return last time out at about 69% interest per annum. Comments on Red Rock are fair and appear correct - he should have sold RRR shares in March 2018 as many of us did, there you goes.
Since March I've bought back half my shares at an average 0.695p - bad. Steelmin was a desperately bad workout for Red Rock and the loan business needs thorough explaining by Chairman Andrew Bell, no bluster and waffle - we have not had a spurific time holding RRR shares to be sure.

Torp said: One can not fault his explanation TBH. Noirua said: Absolutely spot on old chap...


The harmless links for the weekend are at the bottom of the header.

[torp] 27/7/2019 10:49

It's worth once again recapping on the facts of the dire performance and obscene levels of dilution here. This is how the company fared from 2012 to 2017:

Losses incured (from Annual Reports) and monies raised via dilution:

2012 - Loss of £1,962,882 - raised £4,441,844
2013 - Loss of £22,105,562 - raised £4,103,795
2014 - Loss of £4,113,460 - raised £2,723,861
2015 - Loss of £8,411,541 - raised £2,327,377
2016 - Loss of £283,280 - raised £1,155,323
2017 - Loss of £1,114,213 - raised £300,000

Total Monies Raised - £15,052,200

In the same period this is how much got frittered away on Admin and other expenses:

2012 - £2,275,786
2013 - £4,751,948
2014 - £1,563,808
2015 - £1,334,404
2016 - £758,351
2017 - £644,688
2018 - £849,518

Total Admin Expenses - £11,328,985

So £15m cash raised and £11m of it expended on Admin. Just unbelievable.


Of course the BOD here does very nicely thank you from all of this. Here are Mr Bell's total emoluments over that same period (salary, benefits etc):

2017 total emoluments - £155,243
2016 total emoluments - £126,661
2015 total emoluments - £91,495
2014 total emoluments - £139,008
2013 total emoluments - £154,746
2012 total emoluments - £221,729

The same principles hold at Regency Mines also.

Mr Bell's total emoluments at RGM:

2017 total emoluments - £109,803
2016 total emoluments - £85,524
2015 total emoluments - £76,461
2014 total emoluments - £76,506
2013 total emoluments - £78,344
2012 total emoluments - £122,598
2011 total emoluments - £85,377


It's obvious where all the available monies disappear to. Salaries and admin expenses.

And this is the POS that you keep promoting and pumping Noirua.

As I have said many times before . . . . there must be better jobs out there.

Shameful behaviour imho

DYOR

[torp] 27/7/2019 10:39

Noirua: "Will continue to post info whether negative or positive and maintain the middle ground."

Utterly laughable. . . . the "middle" ground lols

You've pumped this utter POS for ages with misleading highly dubious information if not outright lies. You have only recently begun to concede some of the more disgusting antics of the BOD here (not RNSing events and transactions) but imho only as a way to try and come across as more sincere. I'm not fooled at all and I doubt long term readers are here either.

The share is a catalogue of disasters, failed projects, endless dilution raising many many £millions only to be frittered away on salaries and Admin Expenses. The very definition of a lifestyle company imho.

[noirua] 27/7/2019 00:11

Reading and videos for the few days ahead:

Monorail train passes through residential building in SW China's Chongqing #Amazing


🐼🐼Spice up the workout routine with 10 seconds of "Panda Parkour." Who's with us?


Menghua Railway, China’s LONGEST coal transporting railway line, is expected to be put in operation in Oct. The 1,837-km railway will carry 200 million tonnes of coal annually from N China's Inner Mongolia to E China's Jiangxi.


George Jones Takes Requests From the Audience


How to Build a Garden Wall 2019 | MarshallsTV


What is the blockchain? If you don't know, you should; if you do, chances are you still need some clarification on how it actually works. Don Tapscott is here to help, demystifying this world-changing, trust-building technology which, he says, represents nothing less than the second generation of the internet and holds the potential to transform money, business, government and society.


North York Moors: magical, whatever the weather - the Guardian


The True Story of Nikola Tesla [Pt.1] - [Pt 2] follows on directly.


Albert Einstein was one of the greatest physicists to have ever lived. Thoughty2 reveals some mind-blowing facts about the man behind the Theory of Relativity.


Secret Reasons You Don't Know About Everyday Things


Past Prime Ministers:

[noirua] 27/7/2019 00:10

Anyway guys, have a good weekend ahead. Will continue to post info whether negative or positive and maintain the middle ground.
Torp and co - I think you are all absolutely wonderful.

[torp] 26/7/2019 18:11

Yup agreed. Shameful to the end. Tried to pretend to be a bit anti RRR with bits about Steelmin loan and so on but nevertheless continues to maintain misleading header info and persists in posting any old bit of tat to push contrarian posts off the bottom of the page.

The BOD here need to be removed. Nothing will ever change unless and until they do. Dilution central imho, jam tomorrow BS and a worrying growing tendency not to report events and transactions. There can't be any trust imho.

DYOR

[noirua] 26/7/2019 15:15

RRR investment in Jupiter Mines Ltd (ASX:JMS now 40c, up 8% this week) worth A$7.5m, or £4.1m. Australian broker Hartleys forecasts 4.5c JMS dividend this year. Solid backing for RRR stock value of £3.3m.


-----

[ The 4.5c divi would be a reduction on the 7.5c divi paid in the previous year ]

[torp] 26/7/2019 14:44

Noirua: "Unfortunately it is Tshipi paying the Special Dividend and not Jupiter Mines Limited"

Matters not one iota.

Shareholders here NEVER GET TO SEE A SINGLE PENNY of any Jupiter dividends.

The money goes straight into the company coffers which exposes it to the imho preposterous amounts of expenditure on salaries and admin expenses. It's an empty cup for shareholders here.

3 separate share buy backs conducted by Jupiter netting RRR £1m

Dividends have earned the company a lot too.


YET NOT A SINGLE PENNY of it was passed onto shareholders here


Lifestyle company for the personal enrichment of the BOD imho, nothing more.

DYOR

[torp] 26/7/2019 14:41

lol at the lame lame attempts of ramper Clunes here. Just desperate stuff indeed.

Cash in the bank at 31st Dec just £27k (see half year report)

Liabilities as at 31st Dec were £2.7m (likewise)

Company raised £323k via a placing of 63m shares at 0.51p

and recieved about £250k from Jupiter dividend.

Against that Admin Expenses were a colossal £849k (see Annual Report)

Other Project Expenses were £306k (again Annual Report)

There must be project expenses and commitments


Rampers are utterly desperate to latch onto any and every snippet of positivity in a world of abject negativity caused by the antics of this BOD.

Loans and transactions with Amulet Diamonds. . . . not RNS'd by this BOD

Loan of £1.1m to the failing Steelmin venture . . . not RNS'd by this BOD

Steelmin going into Administration . . . not RNS'd by this BOD

Loan of money by CRT to RRR . . . not RNS'd by this BOD


I can only personally see dilution coming. Where else will cash come from for all those liabilities, salaries, admin expenses, project costs and so on?

Clunes knows this and is being disingenuous. Thankfully I am immune to the ramoping BS and keep my eyes firmly on the facts and cash situation.

No comments from the ramp team on the Para Resources RNS concerning El Limon.
Speaks volumes in itself.

DYOR

[noirua] 26/7/2019 14:36

▪ Tshipi to pay a special dividend of R1.15 billion to its shareholders at the end of June.

Unfortunately it is Tshipi paying the Special Dividend and not Jupiter Mines Limited. There is an AGM on Monday to watch out for.

[noirua] 26/7/2019 14:34

Quarterly Report to 31 May

[noirua] 26/7/2019 14:25

Jupiter Mines Limited (“Jupiter”) (ASX: JMS) will host a live webcast of its Annual General Meeting of Shareholders at 2:00pm (AEST) on Monday 29 July 2019.

[clunes100] 26/7/2019 13:54

What about £300k JMS special dividend due around now??

[noirua] 26/7/2019 12:03

Just read the header on positives and negatives for the basic position of RRR.

Trust is low after the big debacle at Steelmin that has not been confirmed by RNS.

Cash in the bank must be close to zero and a dividend from JMS not due until November.

Migori gold asset still requires a mining license. Until it arrives the value is zero.

Continued expense in DRC. Your call as to whether you agree with AB on its value. A lot of copper has been taken out since 1920 and important is how much is left above the water table. The tailings are all in the Chinese held area 3. Might be a good sale asset when and if a JORC resource is achieved - too expensive for RRR to go ahead to production.

[clunes100] 26/7/2019 11:56

Clueless got it right about JMS unlike the doomsters who predicted 24c, currently JMS 66.6% above doomsters prediction.

It is now a matter of time.

[seagullsslimjim] 26/7/2019 11:44

Clueless - "looking forward to the next results to see what the current cash and liability situation is."

I'll save you the wait and say 'sod all and Bell' re your question.

[neo26] 26/7/2019 11:39

ClunesRrr has some interesting assets it just for the size of co they have their hands in too many pies.There is an overhang thus price falling.

[clunes100] 26/7/2019 11:26

JMS 40c and I believe still some way to go, the doomsters got this one wrong! JMS just added another £200k to RRR's asset value overnight. If JMS keeps rising as one might expect given all considerations, I would expect RRR's holding to add pressure to a steady rise as opposed to the current drifting on no news. The JMS and Para holdings are worth roughly £4.4m against a market cap of £2.9m, looking forward to the next results to see what the current cash and liability situation is.


Just need some positive news on any one of several fronts.

[torp] 26/7/2019 11:14

Odd that Noirua, who loves to put up Para Resources links, somehow conveniently neglected to post up this one:



"The El Limon disclosure in the June 20, 2019 news release that referred to proposed production figures (and contained gold) and any economic analysis of production is retracted. The El Limon disclosure that described contained gold is retracted. Such gold content disclosure is not permitted unless an issuer is able to include grade and metal content for each contained metal as part of a deposit that has been categorized as an inferred, indicated or measured mineral resource or proven or probable mineral reserve as defined by CIM definition standards have been established on the El Limon property. The El Limon project does not have any mineral resources or mineral reserves as categorized by NI 43-101."

"The Company’s decision to mine and its work and plans at El Limon are not supported by a preliminary economic assessment, preliminary feasibility study or feasibility study. The technical report entitled “El Limon Project Technical Report Zaragoza, Antioquia, Colombia” dated September 15, 2015 does not satisfy the requirements to be considered a preliminary economic assessment, preliminary feasibility study or feasibility study. If the Company were to bring the El Limon mine into production without first establishing mineral reserves supported by a feasibility study, the Company cautions that this could result in higher risk of economic or technical failure of the operation than if a feasibility study had been prepared demonstrating economic and technical viability. There are no assurances that the El Limon mine will be found to be economic."

Hmmmmmmmm

[neo26] 26/7/2019 10:16

Seriously this companies board cant be trusted, the day bell leaves its a celebration for company. Even large shareholders want out.