Red Rock Resources Share Discussion Threads

[atino] 13/10/2019 22:17

A University of South Australia researcher has developed a suite of geochemical tools to more accurately target valuable mineral deposits and save drilling companies millions of dollars in the process.

The tools use data collected from analysing drilling materials in new ways to help locate undiscovered precious metals buried by younger sediment and identify the right drill holes.

Besides Prominent Hill, the tools were trialled in the Yorke Peninsula, highlighting unexplored areas of copper
By mapping out where key chemical elements are found in greater concentrations, the researcher behind the project is creating geochemical algorithms that increase the chances of finding an ore deposit and decrease the cost of mineral exploration.

“The global demand for copper and gold is growing, but it is getting increasingly hard to find these metals as companies are forced to drill deeper and deeper,” said Caroline Tiddy, the scientist leading the study at UniSA’s Future Industries Institute. “Diamond drilling, for example, costs up to $400 a metre and it is not uncommon to drill to depths of 1-2 kilometres. That amounts to an $800,000 bill with no guarantee of success, so it limits the number of drill holes. To add to the challenge, ore deposits are tiny compared to the search space.”

However, in Tiddy’s view, her solution allows companies to increase the return on their investment.

“By using these geochemical tools, companies can better focus their drilling resources into lower-risk areas. Finding an economically viable copper-enriched area has the potential to generate revenues of up to $175 million a year as well as creating more than 500 jobs,” she said in a media statement.

The researcher revealed that her tools were successfully tested at OZ Minerals’ (ASX: OZL) Prominent Hill mine, an iron oxide-copper-gold deposit in the north of South Australia. The trial, allowed the miner to increase the footprint of the ore body FOUR 😎 FOLDS !! 😲🙌🤑🤑9297;🤑ԅ83;👍👍;👍🤔🤔🤔



I strongly suggest the RRR board...to grab hold of her number:-)

[kemche] 13/10/2019 16:41

Is Noirua really Bell?

[noirua] 13/10/2019 14:01

DS invested in Jupiter Mines which rose from 5.5c in December 2013 to 40c in 2018, and unloaded dividends and cashback, well done.

[kemche] 12/10/2019 20:41

Guff. Nonsense. Pump.
Guff. Nonsense. Pump.
Guff. Nonsense. Pump.
Guff. Nonsense. Pump.
Ad Infinitum.

[noirua] 12/10/2019 13:04

Just be patient guys as a JORC resource from old drilling cores going back to the 1920's is a long job. Further drilling might also be required so look back on comments by AB in the more distant past.

The mining license being returned is in the hands of the Kenyan Mining Minister and nothing can be done to hurry it up. What caveats are added to it are yet to be seen.

My guesstimates as to value are explained in the header. The totals are USD23 to USD26 million or approximately 2.65p to 3.00p a share at a conversion rate of $1.27 to GBP.. Together with quoted investments this makes
6.15p to 6.5p a share. Allowing for all liabilities but adding a value for El Limon royalties this puts the value at 6p to 6.35p a share. Reducing this value by 50% gives a share value for RRR at 3p to 3.175p. Red Rock's present share price is 0.475p.
The present low price of Red Rock shares leaves it vulnerable to an underbid.

My valuation in the header for Musonoi and Mid Migori is probably far lower than some think but is probably fairly realistic.

[kemche] 11/10/2019 14:17

Ignore big P&D merchants who only post the same old bullish tripe against all the evidence to the contrary.

[noirua] 11/10/2019 14:10

New video about DRC added to the bottom of the header and general update.

[torp] 11/10/2019 08:15

Desperate stuff Noirua, desperate stuff.

Same old same old

Nothing changes here, nor will it ever imho whilever Bell & the rest of the
BOD remain. It's a legacy of numerous failed projects that soak up cash and
preposterous levels of expenditure on Admin and other expenses both of which
sap all shareholder value.


Cash in bank as end Dec was just GBP 27k

Total Liabilities were stated as GBP 2.7m

Admin Expenses alone were GBP 850,000 last year


Since Dec they have only managed to raise GBP 323k from a dilutive placing
And received approx GBP 250k from a Jupiter dividend
And more recently they've begun selling the "family silver" Jupiter shares
selling 1.5m of them which likely raised about GBP 300k
No reason stated via RNS for that so one assumes it's to fund salaries
and expenses.

Noirua is locked in here imho, well down on his punt and is an habitual
shameless ramper of this POS AIM lifestyle venture.

The long term charts of both RRR and RGM are testimony to the awful Modus Operandi
of Bell and Co imho. The share price has been totally devastated and imho will
continue to be whilever this BOD remain in place.

For me personally it's now totally uninvestable.

DYOR

[noirua] 10/10/2019 23:53

Chairman Andrew Bell may want to take a lesser role as he goes forward as a candidate for the Brexit Party in the next General Election that is imminent.

[noirua] 10/10/2019 15:12

Broadcast just reassured what is known already with no mention of what happened at Steelmin. Market wants to know when a JORC resource at Musonoi will be announced. On Kenya it wants to know what is definitely in place should the Kenyan Mining Minister rubber stamp the mining licence application.
-----


15 June 2018
Red Rock also announces, further to its announcement of 26 June 2015, that a revision to its agreement with Kansai Mining Corporation ("Kansai") of 20 June 2015 ("2015 Agreement") was executed on 11 June 2018 ("2018 Agreement").

The effect of the revision is that Kansai exchanges its 25% carried interest in the mineral assets of Mid Migori Mining ("MMM" and "Assets") under the 2015 Agreement for a $50,000 payment, leaving Red Rock with a 100% interest.

In the event of a renewal or reissue of licenses covering the Assets the Company will within three months make further payments, subject to such renewal or reissue not being on unduly onerous terms, as follows: (1) $2.5m payable in cash, (2) a $1m promissory note payable 15 months after issue, and (3) 500,000 of warrants into Red Rock shares at a price 20% above their average closing price on the three trading days prior to issue.

[kemche] 10/10/2019 14:18

Excellent stuff. Does he say anything interesting or the usual?

[noirua] 10/10/2019 13:54

Andrew Bell, Chairman of Red Rock Resources (LON:RRR) Video update
10 OCTOBER 2019


Video is a bit low on volume.

[noirua] 10/10/2019 10:19

Mid Migori...imminent.

[noirua] 09/10/2019 15:22

Unfortunately words from an interview are generally ignored or if they are not then shortly afterwards any share gain evaporates. The market is waiting for a JORC resource at Musonoi and a returned mining license for Mid Migori. All this tied into future financing, cash reserves etc.

Hans Mende has become a Non Executive Director of Jupiter Mines Limited.

BIRD

[clunes100] 09/10/2019 14:22

Can someone please post the link, I cannot seem to get the video to play. Thank you.

[kemche] 09/10/2019 09:52

Takeover by GLEN???
Fundraising?

[noirua] 09/10/2019 09:33

BIRD

8 October 2019 - @Share_Talk Has the @RRR_RedRock management team in the #London studio today #RRR


Goes live with 20 minute interview today.