Red Rock Resources Share Discussion Threads

[torp] 07/8/2019 11:20

Poor old Noirua, I really do feel for him having this utterly thankless task

Only a fervent shameless ramper could suggest that Glencore halting the world's largest cobalt mine due to it being uneconomically viable, was a good thing !!

You couldn't make it up.

Terrible timing too this news I expect !!


Tick tock

DYOR

[kemche] 07/8/2019 11:10

And Lemon.

[kemche] 07/8/2019 11:09

Now that DRC is old hat we can finally concentrate on Mt Ida.

And Steelmin.

[kemche] 07/8/2019 11:08

It presumably rules out Glen as a JV partner - which can only be good news as it will allow the Chinese to move in.

It is all about Migori now anyway.

And Amulet.

[kemche] 07/8/2019 11:06

It is all good news - even the bad news.

And anyway, it is all about Migori now.

And Candy Sweets.

[noirua] 07/8/2019 11:01

There has been no announcement by Glencore, as yet, on the rumour that the Amulet Mine will be closed. It is a very large cobalt mine and if it is closed at the end of this year it will help the price of cobalt at the company's smaller mines in DRC, including Musonoi.

There are swings in price on a move to nickel. The price has now risen sharply and cobalt has fallen so the move will probably be back to cobalt again. Use of child labour in DRC moved the position of the likes of Tesla.

[noirua] 07/8/2019 10:50

Gold now at US$1,487 an ounce.

[torp] 07/8/2019 09:42

Community message:

This ramping board apologises for the temporary lack of service

This is due to the sudden and unexpected news regarding the DRC

Our ramping stooges are frantically searching for some other angle to pump and normal service will be resumed as soon as one can be found.

Please don't panic and sell all your shares. Thanks

[torp] 07/8/2019 09:37

Oh Dear . . . . . !


DRC Ramping over, thanks and goodnight !






GLENCORE TO HALT PRODUCTION AT WORLD'S LARGEST COBALT MINE


"Glencore is to halt production at the world's largest cobalt mine from the end of this year following a dramatic fall in prices for the key battery metal.

The Switzerland-based miner led by billionaire Ivan Glasenberg will shut Mutanda mine in the Democratic Republic of Congo, which is also a significant producer of copper, because it is �no longer economically viable�, according to a letter to employees of the mine seen by the Financial Times."

"Unfortunately due to the significant decrease in the cobalt price, increased inflation across some of our key input costs (mainly sulphuric acid) and the additional taxes imposed by the mining code, the mine is no longer economically viable over the long term,� the letter to employees at Mutanda said."

"The price of cobalt has fallen more than 40 per cent this year because of a surge of supply from the DRC, the world�s largest producer."



Well well well. Doesn't bode well for RRR's little DRC cobalt venture then if Glencore the world's largest cobalt mine is unable to be economical.

Yet another one for AB's full to bursting oubliette of useless ventures !!!


DYOR and definitely don't fall for the ramping spiel spouted here.

[torp] 07/8/2019 09:31

SO in so many words what you are admitting to there is that THERE IS NO ACTUAL PRODUCTION AT MT IDA and that's because Mt Ida has been mothballed since 2012.
Hence there is NO ROYALTY REVENUE.

Stop trying to dupe readers Noirua. You are a total charlatan.

[noirua] 07/8/2019 00:50

Jupiter have through a third party put Mount Ida and Mount Mason on the market. No doubt we will hear in due course. This might also include a royalties sale opportunity for Red Rock. Thank you for bringing this up Torp.

[torp] 06/8/2019 20:21

lol at the resident clowns desperately trying to mislead punters here. Shocking set of individuals. Probably time the FCA got involved here imho.


Noirua : "Red Rock holds royalties over all commercial production from Mount Ida, WA."

So tell us Noirua how much production is there at Mt Ida?

[clunes100] 06/8/2019 17:10

If that is 440,000tons of copper in place and 25,000 of cobalt, that is a resource worth US$3.1bn. The average price of producing copper is US$1,625, so US$715m and Cobalt is a by product.

So call it a billion in production costs which leaves two billion, even a relatively small royalty for RRR would be transformational.

If AB has got it right this time - hold on to your hats!
DYOR

[noirua] 06/8/2019 16:28

KAT and POW in plus territory in difficult markets today. Held indirectly by RRR via shareholding in POW.
Gold at $1,472.

[noirua] 06/8/2019 14:30

Clunes100, that's a big ask. If you have time, check all the areas surrounding Area 1 and the present costs at all the companies. Use the figures at the Red Rock twitter site for a likely resource, after comparing this with the other areas. Do a lot of work on the maths and then some days later you should have a reasonable figure.

[noirua] 06/8/2019 14:26

Iron Ore Price Defies The ‘Experts’


Red Rock holds royalties over all commercial production from Mount Ida, WA.

[clunes100] 06/8/2019 14:06

Is it a bit premature to announce quantities ahead of an official calculation of reserves?

Can anyone hazard a guestimate of the value of the resource and likely cost of extraction per tonne etc?

[torp] 06/8/2019 12:18

Noirua desperately clinging on and ramping in the uber vain hope that a JORC announcement will give the ramping squads some meat on the bone to try and pump the life out of this POS.

It's not going to make the slightest bit of difference. They had a JORC resource at Greenland and it's been a colossal failure. Couldn't be sold for value nor delivered anything substantial. Ultimately was sold off last year for just £1 !!

Laughable.

The issue here is cash.

The company raised £323k earlier this year via a dilutive placing at 0.51p
Thay also received about £250k from the Jupiter divi
Not much cash at all.

Against that . . .

The company only had £27k cash as at 31st Dec (see Half Year Report)
Had current liabilities at that time of £2.7m
The BOD expend approx £850,000 a year just on Admin Expenses (see Full Year Report)
They also spent £306,666 on "Other Project Costs" last year
There must also be normal project costs and other funding requirements
They've also wasted £1.1m on a further loan to the failing Steelmin venture before it went into Administration (shockingly neither the loan nor Steelmin going bust has been RNS'd)


Noirua knows all of this but it's clearly his job to keep ramping the POS regardless. Sincerely I feel for him having to do such a thankless task and I'm sure there are a wide range of more rewarding jobs he could put his skills to.

This share has proven over the past 7+ years to be nothing more than a total dilution pit and a lifestyle venture for the BOD here.

Approx 75% of raised cash has gone to Admin and other expenses over the past 7+ years. Just appalling. Zero value for shareholders imho. Not worth even one penny of a punt. More dilution is inevitable imho. Authority has already been requested and granted to issue up to 400m shares this year.

DYOR

[noirua] 06/8/2019 11:33

Red Rock Resources PLC announcement on Twitter:
6 August 2019 - Musonoi, DRC

[noirua] 06/8/2019 11:04

It seems AB is giving no clues to anyone as to when a JORC resource will be announced, even 1620 appear unaware. The video interview in the header has some information from which you could construe your own personal view. One thing does look as certain as it could be, is, you need to be holding stock now which ever way it goes - absolutely your call my friends. No guidance can be given unless you are able to get inside the head of Chairman Andrew Bell who is as ever, DIFFICULT TO READ.

[torp] 05/8/2019 20:13

lol

And you're suggestion here is that AB should also sell a load of the JMS shares!

Just never gonna happen

Bell will dilute shareholders to raise cash for salaries and expenses as night follows day.

Like I said before Noirua, how much are you participating for???

DYOR

[noirua] 05/8/2019 17:10

It seems that Chairman Brian Gilbertson is upset his CFO has been voted off the board of Jupiter Mines Limited.
That was caused by his company Gemsfield selling their Jupiter stock. Had he not done so at around 30.5c + 2.5c divi he would have had sufficient votes to keep her in place.
I did sell 12% of my holding in JMS last week as it was a bit top heavy at 42c.
My holding in Red Rock remains as was - looking to have potential.