Red Rock Resources Share Discussion Threads

[torp] 05/8/2019 15:18

Noirua "I will do my utmost to help you and reverse that "

You continue to support and promote an AIM lifestyle venture run for the personal enrichment of the BOD. Nobody can be helped here unless that BOD are removed.

Why do you continue to pump this POS? Are you locked into a contract?

[noirua] 05/8/2019 14:42

Torp, no one will go to any thread you start except by accident. However, I will do my upmost to get as many as possible to support your only negative thread. You are only allowed to be negative though my position is that I post both positive and negative as fits the bill. You are a loser but I will do my utmost to help you and reverse that - unless you are helped from elsewhere.

[torp] 05/8/2019 14:16

For the benefit of new readers here, Noirua only last week was saying in his header that a cash raising was imminent.

RRR only had £27k in the bank as at 31st Dec (see Half Year Report)

They had current liabilities of £2.7m

The BOD expend approx £850,000 a year just on Admin Expenses (see Annual Report)

They also spent £306,666 on "Other Project Costs" last year

There must also be normal project costs and other fund requirements

Since Dec they have only managed to raise £323k from a dilutive placing at 0.51p

They also recieved approx £250k from the Jupiter dividend


Where is the cash going to come from to meet all these funding requirements (not least salaries and expenses !!)???

Small wonder Noirua himself suggests that a placing must be imminent

I personally won't get caught out buying into a dilution

DYOR

[torp] 05/8/2019 14:12

Give it up Noirua you con man. You simply want me to start another thread so you can continue to dupe people here unchallenged. Just not gonna happen.

You and your ramping chums are utter charlatans obviously imho paid to promote this dog of a share. Get a real job sir. Have some morals.

[noirua] 05/8/2019 13:18

Katoro shares doing nicely this afternoon and an interest held by POW. RRR have a 6%+ interest in the latter.

Easy to complain about a header Torp but not so easy to start your own and see what others think. I'm one of your supporters willing to give guidance as required. Anyway, not all criticism is adverse and I view yours in a kindly and futuristic manner for the guidance and good fortune of all.

[torp] 05/8/2019 12:49

Your farcical header shows nothing. All the salient points that investors need to know are missing. You've removed key information like the £1.1m unsecured loan made to Steelmin that imho won't be recoverable, and YOUR assertion that a cash raise is imminent.

You don't state the last reported El Limon quarterly revenue, shameful

You don't state most of the things investors need to know.

In fact this sudden trimming down of the header info to a handful of lines is extremely suggestive imho that you are now on the "inside" which for me would mean you are participating in the next placing.

How much are you in for?


DYOR

[noirua] 05/8/2019 12:42

Noi helpful post but off topic guys:

[noirua] 05/8/2019 12:32

Yep! There is a lot going on at Red Rock at the moment and the negative points well illustrated in the last post by yourself. As you say, Do Your Research. Reading the header shows where everything stands going forward, high risk indeed and rewards at Musonoi look exceedingly favourable.

[torp] 05/8/2019 11:44

Noirua BS : "The principal negative being the low cash position due to heavy losses on loans to Steelmin and maybe Amulet."

No, you're wrong. The principle negative here is Bell and the other BOD who run the company as a pure lifestyle venture for their personal enrichment and that's why the value of any asset or held shares is nothing like the face value but far far less than that. This BOD raised over £15m cash from dilutions during 2012 and 2017 and they spent over £11m of that just on Admin and other expenses. Utterly ridiculous. That's close to 75% of available cash wasted on expenses leaving only 25% going to something useful. Just appalling. That's the biggest negative because it means there is no value for shareholders here nor will there ever be until the BOD are removed.



Noirua BS : Not forgetting the iron ore royalties at Mount Ida"


Appalling mislead by yourself once again. There are NO ROYALTY REVENUES at Mount Ida. There is only an age old royalty deal in place. The Mt Ida project was mothballed by Jupiter indefinitely in 2012 and remains that way today. Trying to dupe readers here that there is actual revenue there is despicable behaviour.



Noirua BS : "and gold royalties at El Limon. "


As you are well aware the gold royalties at El Limon are just laughably tiny. The royalty deal is a 3% NSR for $2m and a further 0.5% NSR for another $1m. However the royalty revenue is so tiny that RRR will never see that cash imho. The last RNS'd quarterly amount was $13,658 for the quarter ending March 2018. At that revenue rate it would take about 134 YEARS to recoup that $3m. It's never going to happen.


El Limon has been a collossal failure and waste of £millions like every other project here. The mine was effectively given away for zero net cash leaving RRR with only this laughable useless royalty.

The Greenland project which also sank tons of cash has now been sold off for just £1

The Ivory Coast project went nowhere at all

The Shoats Ceek oil project was yet another dismal failure and has been written off

The Steelmin venture is another laughable disaster and is now in Administration

Bell loaned Steelmin a further £1.1m which he didn't RNS to shareholders. Awful behaviour from a Chairman. That money won't be recoverable imho as RRR was not a secured creditor.

And so it goes on. Project failure after failure after failure.

The only constant here being the preposterous amounts this BOD syphon off for their salaries and expenses which then leaves practically no value for shareholders.

If 75% of available cash gets frittered away on Admin and other expenses then the real value of the JMS shares here (listed at around £4m) is in effect only £1m.

This is why the share price has been utterly destroyed.

The dilution begging bowl will be out very soon imho. Thankfully I won't be the one contributing to Bell's salary and exhorbitant expenses. I doubt many others will want to be either. The confetti is utterly useless.

Buy, hold or sell but be sure to DYOR !

[noirua] 05/8/2019 09:11

It seems the Jupiter CFO was voted out. Not aware of reason why.


Musonoi:

[noirua] 05/8/2019 09:05

Thank you Torp, appreciated. You are obviously content with everything and no need for a further thread. For the time being it can be seen you will hold your peace. Will do my best to balance the negatives with the positives. The principal negative being the low cash position due to heavy losses on loans to Steelmin and maybe Amulet. Positive at present is the Musonoi, DRC interest and quoted shares held in ASX:JMS, TSXV:PBR and POW. Not forgetting the iron ore royalties at Mount Ida and gold royalties at El Limon. The losses by some due to the dilution since 2011 are unacceptable and I stand with you on that - more power to your elbow, keep up the good work.

[torp] 05/8/2019 01:10

Multiple threads for the same share are pointless. Your Billy BS will not go unchallenged so I'm afraid myself and I'm sure many others will remain here to state the salient facts so that people can make informed decisions rather than be duped and mislead by your cherry picked half information and utterly shameful ramping of a total POS AIM stock.

[noirua] 05/8/2019 00:13

Thanks again Torp, absolutely spiffing, great, really great. Followers look forward to your negative header with a finality of fine repose, maybe a few ecstatic. Let me know if you need help. However, it will be well conceptualised I'm sure.

[torp] 04/8/2019 13:57

lol Noirua.

Your ramping has absolutely no impact here. Everyone knows who and what you are.

You've already stated clearly that a "cash raising is imminent" but have now removed that statement from your header. So obvious why. You are shameless and I fear that karma will catch up with you.

Cash in bank at 31st Dec was only £27k

Liabilities at that time were a significant £2.7m

They may have increased since, nobody knows except the BOD

Admin Expenses alone ran at approx £850,000 last year

Other Project Costs were £306k


The company has only raised £323k since Dec via a dilutive placing of 63m shares at 0.51p and it received approx £250k from the Jupiter dividend.

With all those liabilities, project costs, other project costs, ridiculous levels of Admin Expenses . . . and with naff all significant income other than dividends, where is the cash going to come from to pay Bell's salary and expenses???

Where it always comes from. Dilution of shareholders imho.

Tick tock

Watch out for another Update RNS next week. Then BAM. Placing imho.

I certainly won't get caught out falling for your "jam tomorrow" BS and buying in just before another placing.


All imho

DYOR

[noirua] 04/8/2019 10:52

Torp, all your comments about the past are fine. Cant really find many faults at all. However, the DRC assets may well surpass everything gone before by a fair margin. Part of my holding is with HL and and a limit order price set at 5.8p. ii does not allow a limit order setting above 150% for Red Rock unfortunately.

[noirua] 04/8/2019 01:25

Operations at the Musonoie-T17 open pit mine and KOV - Areas 5 and 2, RRR area 1 sandwiched between area 5 and 2 for good measure.



My thoughts, RRR will flip Musonoi area 1 interest as soon as possible after the JORC resource presentation - the area has a mining permit already. Cash obtained would bolster the position at Mid-Migori where a JORC resource is already in place and AB says a partner is ready and willing - or at least words to that effect.

28 November 2018 -

This is a significant acquisition for Red Rock and provides it with a project that holds potential upon which a multi-billion US dollar in the ground resource could be defined, which would thus be a company maker and easily eclipse other assets held. To this end, we recommend Red Rock Resources as a ‘Buy’.

Main shareholders:
CRT 18.05%
1620 10.35%
Peel Hunt 6.09%
AB 5.78%
PG 4.78%
Total = 45.05%

[noirua] 04/8/2019 00:32

Torp, looking forward to your new header going into the history of Red Rock Resources PLC.
Your brief may not allow you to do so or you probably are not able to manage it. You may get a wider brief if you push it.
I am here to help as you know. good fortune...

Just a thought. RRR could arrange an overdraft against quoted shares held. The JMS shares were worth £2.35 million at the start of the year and £4.2 million at present, figures approximate. A rise of £1.85 million.

Also, Red Rock may consider a JORC resource for part of the area at Musonoi and add to this at any point where further drilling is required. My guess, an announcement at any moment.

[torp] 03/8/2019 15:47

I see you've removed all the negative stuff again from teh header Noirua. No longer any statement there that a cash raise must be imminent.

I guess we can all conclude from this that the placing really is imminent.

Have you been instructed to remove that stuff???

How much will you be participating for?

[noirua] 03/8/2019 12:33

Header is now updated to current events. Apologies for the sudden disruption that is needed to keep fully-on-the-ball-and-dynamic.

[noirua] 03/8/2019 11:14

Torp -The trip to Australia would be on Jupiter Mines expenditure. However, you are right to raise DRC and Kenya costs but who are we to know quite what is going on. No doubt we will hear in due course.

[torp] 03/8/2019 10:25

A perfect demonstration of Admin Expense usage imho. A week in DRC and Kenya and then off to Australia and then back to DRC and Kenya.

Last year Bell burned through a colossal c£850,000 just on Admin Expenses. This for a company with naff all income and which had liabilities of £2.7m as at end Dec. What a nonsense ! Mugpunters punting this POS pay for all this via the dilutive placings and CLNs etc.

The BOD have kept raking in the salaries and kept expending huge amounts on expenses for years despite dismal failure, £millions in losses and inability to deliver shareholder value.

Here are the losses incurred in past years and the amounts of cash raised from placings etc:

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 cash raised - over £15m

But over £11m of that went to Admin and other expenses.


This greedy BOD reward themselves constantly for this failure, and do so at shareholders expense, leeching precious cash out of the business for their salaraies and expenses.

Total mugs game this one imho.

DYOR

[kemche] 03/8/2019 07:40

"Off to Australia tomorrow, back midweek then both DRC and Kenya demand immediate visits again."

Of course it does. It is the holiday season after all!

The Masai Mara is very nice so I have heard.

[noirua] 03/8/2019 01:06

25 July 2019 - from DRC
Flying back today to London after a week progressing and resolving corporate interests in DRC and Kenya. Seeing Au and other prices, couldn't be better timed. Off to Australia tomorrow, back midweek then both DRC and Kenya demand immediate visits again.


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@tfondas1
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Replying to @ABell2019
Sounds very good, but @RRR_RedRock shareholders and depressed @RRR_RedRock share price need good RNS!

[torp] 03/8/2019 00:36

SP destruction at RRR and RGM





Nuff said imho