Red Rock Resources Share Discussion Threads

[noirua] 07/8/2019 16:03

Explanation:

If the largest cobalt mine closes then less cobalt will be available. This should cause firmer prices in 2020.

Gold price goes up so those holding gold assets will see a higher demand and value of their holding.

Most will have realised this. For the few who deliberately pretend not to - a little help guys from a friendly face.

[noirua] 07/8/2019 16:00

For the time being eyes are focused on gold as it approached US$1,500 per ounce and this together with a strong greenback - looking good.

Then glance at Red Rock and ask if there is gold potential? Happily there is.

Mid Migori in Kenya at 1.2 million ounces at 1.3 grammes per tonne GOLD RESOURCE. A mining license is awaited.

Para Resources shares held and a gold producer.

El Limon, future gold royalties that race in more quickly with gold prices higher.

Look for gold potential - LOOK RED ROCK RESOURCES PLC.

[kemche] 07/8/2019 15:53

And Shyte Creek.

[kemche] 07/8/2019 15:52

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

And Steelmin.

[kemche] 07/8/2019 15:52

It's all about Candy Sweets now.

[kemche] 07/8/2019 15:51

hxxp://pararesourcesinc.com/para-resources-clarifies-corporate-update-news-release-june-20-2019/

[noirua] 07/8/2019 15:01

Thank you to Torp and kemche for kindly pointing out the article in the Financial Times. Yet to officially be confirmed by Glencore - probably an expeditious leak.
The cut in supply from the world's largest cobalt supplier should make for firmer prices.

The rise in the gold price has added to the good news on cobalt though we must wait until 2020 for higher prices to work their way through. I'm quite pleased all round.

[torp] 07/8/2019 14:58

MIGORI


RRR's license was revoked some time ago. They have been fighting to get it back.


Previously Reported here:





"Among the grounds for the revocation was that Mid Migori has held the areas for over 26 years without concluding the exploration programme.

Further, that the firm had never done any exploration work since it was granted the licences and that “it has only been getting into joint ventures. It has all along been an intermediary.

The company had been obtaining renewals of licences through promises of heavy investment in exploration work but which have never been honoured, the court heard. The ministry also blames Red Rock for the alleged non-performance by its partner, on account of its shareholding in the latter."

But hey . . . it's going to ultimately be worth millions and there will be pots and pots of jam to be had !!!!

DYOR

[noirua] 07/8/2019 14:53

For the time being eyes are focused on gold as it approached US$1,500 per ounce and this together with a strong greenback - looking good.

Then glance at Red Rock and ask if there is gold potential? Happily there is.

Mid Migori in Kenya at 1.2 million ounces at 1.3 grammes per tonne GOLD RESOURCE. A mining license is awaited.

Para Resources shares held and a gold producer.

El Limon, future gold royalties that race in more quickly with gold prices higher.

Look for gold potential - LOOK RED ROCK RESOURCES PLC.

----

Value to Red Rock is very high at Mid migori but depends on a mining license being awarded.

[torp] 07/8/2019 14:17

Bad news for DRC Cobalt




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."


I strongly suspect this awful news has come at an inconvenient time for RRR. Noirua's pathetic antics here today confirm it imho.

Tick tock

DYOR

[noirua] 07/8/2019 14:04

For the time being eyes are focused on gold as it approached US$1,500 per ounce and this together with a strong greenback - looking good.

Then glance at Red Rock and ask if there is gold potential? Happily there is.

Mid Migori in Kenya at 1.2 million ounces at 1.3 grammes per tonne GOLD RESOURCE. A mining license is awaited.

Para Resources shares held and a gold producer.

El Limon, future gold royalties that race in more quickly with gold prices higher.

Look for gold potential - LOOK RED ROCK RESOURCES PLC.

[kemche] 07/8/2019 14:03

It's all about Amulet now.

[kemche] 07/8/2019 14:03

"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."

[kemche] 07/8/2019 13:59

It's all about Mt Ida now.

And Candy Sweets.

[kemche] 07/8/2019 13:59

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

And Steelmin.

[noirua] 07/8/2019 13:48

For the time being eyes are focused on gold as it approached US$1,500 per ounce and this together with a strong greenback - looking good.

Then glance at Red Rock and ask if there is gold potential? Happily there is.

Mid Migori in Kenya at 1.2 million ounces at 1.3 grammes per tonne GOLD RESOURCE. A mining license is awaited.

Para Resources shares held and a gold producer.

El Limon, future gold royalties that race in more quickly with gold prices higher.

Look for gold potential - LOOK RED ROCK RESOURCES PLC.

[torp] 07/8/2019 13:21

A shame Mt Ida is mothballed and has been since 2012 !!

[noirua] 07/8/2019 13:21

What ever people have to say it is gold that is an interest to be in. Red Rock have three ways in via Mid Migori, Para Resources and El Limon gold royalties. It's the place to be and one RRR are in.

[kemche] 07/8/2019 13:21

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

And Steelmin.

[kemche] 07/8/2019 13:20

It's all about Mt Ida now.

And Candy Sweets.

[torp] 07/8/2019 13:18

Dire cobalt situation also predicted long ago here:




"In the case of cobalt, supply will exceed demand by 652 tons this year, and that will widen to 20,842 tons next year, Wood Mackenzie Ltd. forecasts. The surplus is expected to send prices tumbling to an average of US$62,502 a ton in 2019, down 23 per cent from the forecast for this year, according to the London-based research and consulting firm. By 2022, the price will average just US$44,585"

Not a time to be mining cobalt it seems !