Red Rock Resources Share Discussion Threads

[noirua] 24/10/2019 02:15

The £38 million in losses is correct and may be used against future profits and could be worth up to £7.2 million to Red Rock. Of course a chunk of these losses were booked against Mid Migori, Kenya and the company looks forward to the return of the mining license there. It already has a 1.3 million ounce gold JORC resource plus 67,000 ounces from tailings.

A dividend is expected in November from Jupiter Mines.

[torp] 23/10/2019 23:45

As I have stated numerous times, believe Noirua's ramping at your own risk.
If you invest on the back of it you deserve to lose your money.

There is imho absolutely no value here for investors. The lion's share of any
monies goes to BOD salaries and preposterous expenses.

Here are the yearly Admin Expenses taken from Annual Reports:



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



This is now a paltry AIM failure with a £3m MCAP and even that imho is way
overvalued.

The wastage on expenses is palpable. One former large 13% investor has
highlighted the same thing after selling all his shares.

This week another former 13% holder has further dumped shares as he has been
doing in chunks since last Christmas. He's now down to 3.44%

Noirua is massively down on his investment here and needs to pump this daily
even hourly to try and find mugs to take the POS shares to boost the share price

I certainly wont be that mug.

This is simply for me a lifestyle outfit for the personal enrichment of the BOD

No shareholder value here whatsoever whilst this BOD remain in control.

Their arrogance in failing to issue RNSs when key loans with Amulet Diamonds
were made and when a further £1.1m loan to Steelmin was made means for me
they are utterly untrustworthy and any investor would be investing totally blind.
You can not know what other loans and transactions have been made behind closed
doors. It is thoroughly despicable to fail to RNS such loans when the MCAP here
is a laughable £3m.

DYOR always

[noirua] 23/10/2019 18:34

❖ #RRR with 6.89% stake in #POW
23 October 2019

Presentation:

[noirua] 23/10/2019 18:29

*As at 9 April 2019, Andrew Bell’s holding in Red Rock Resources Plc is 39,067,000 ordinary shares, representing 6.38% of the Company’s issued share capital.
The company has few warrants and options, none are in play at the moment.

[kemche] 23/10/2019 18:14

For me it's all about the future adventures really. Whatever fleecing has happened in the past has happened and whatever money has been swindled has been swindled. It is the future swindles that I am interested in.
As long as I continue to be paid and enjoy the world jollies until I retire or am called by Mr Reaper then I don't really give a..........

But that's just me.

[noirua] 23/10/2019 18:05

I prefer to take a kindly attitude overall no matter what views are posted here. It is the here and now we are interested in and despite reading Torp's eulogy I feel he really understands the prospects here at Mid Migori and Musonoi. He does a good job so we can forgive him for occasional drifts into the past - you are my negativity hero Torp, very very well done!

[kemche] 23/10/2019 15:30

I last sold out while pumping the beejeesus out of it. It was only much later that I informed others. But that's just the way I am really. But good luck to you guys whichever way you wish to fleece the gullibles here.

[noirua] 23/10/2019 15:16

* As at 30 April 2019, Charles Richard Topham's holding in Red Rock Resources Plc is 108,753,210 ordinary shares, representing 16.09% of the Company's issued share capital. The shares are held via HSBC Global Custody Nominee (UK) Ltd.

[torp] 23/10/2019 14:12

Noirua BS - "PG has notified further fairly substantial sales of Red Rock shares.
A weak holder this year who looks as if he may be in need of cash right now"

What a complete charlatan you are Noirua, absolutely despicable.

Gyllenhammar has been steadily dumping his 13% shareholding since last Christmas.
How you have the cheek to suggest he's selling because he needs the cash I can
not fathom but you've demonstrated numerous times that you are prepared to
wilfully mislead readers here with false statements about the company having no
liabilities and that RRR were going to pay a dividend. Just utterly shameful.


I would imagine Gyllenhammar would have loved to have been able to dump his 13%
holder last Christmas but presumably finding mugs to pick up these POS shares
has proven very difficult. He's now down to 3.44%, just 23,250,000 more to sell
to be free of this insipid AIM share.

Of course the disreputable BOD here haven't helped him find buyers after failing
to RNS to the markets loans and transactions with Amulet Diamonds, failing to
RNS a £1.1m loan to Steelmin and indeed failing to RNS that Steelmin went into Administration last February.

I guess Gyllenhammar has learned a valuable lesson in regards to Bell shares.

Before him, another 13% holder, one Daniel Sklan also saw the light and dumped
his remaining shares in Aug 2018. He left the following words over on LSE:

"After holding RRR shares for a considerable number of years and seeing my holding drop from over 13% to under 2% and value drop by over 90% due to the constant “fund raising” and issuing of new shares; I have finally had enough and sold all my shares.
Let’s be honest - doesn’t matter how much money RRR receives it will always disappear paying "misc. expenses", directors salaries and investing in white elephants; sorry I meant Elephant Oil and various other ridiculous investments. I simply can’t understand how a business manages to plough through so much money with so little to show for it."


Let's face it this share is, imho, a total POS pumped by long standing nefarious
characters who simply can not be trusted any more than the BOD themselves can.

Most of the money goes to BOD salaries and expenses on a preposterous scale.

No value for shareholders that I can see

DYOR


.

[kemche] 23/10/2019 12:14

When he bought he was a strong holder. But he is now selling because he is a weak holder.

Righty ho!

[kemche] 23/10/2019 12:13

Or finally seen sense.

[noirua] 23/10/2019 11:49

PG has notified further fairly substantial sales of Red Rock shares. A weak holder this year who looks as if he may be in need of cash right now.
Until news arrives or a big buyer turns up, RRR shares remain just awaiting news at Mid Migori and Musonoi.
PG is thought to be holding some CLNs due for conversion or repayment on 19 December 2019. Word from the herd is that news on Musonoi as to a resource based solely on the 83 drilling cores will be available before then. The Mid Migori final approval of the Mining License is outside Red Rock control.

[seagullsslimjim] 22/10/2019 21:31

I think that where Bell is age wise, then the Jupiter stake will now continue to be sold down to cover Admin expenses over say the next 3-4 years.

By that time Bell would have been paid for that period and leave the Company through retirement with nothing left in the pot at that point.

A clever little ruse !

[noirua] 22/10/2019 14:54

China Steel Demand Remains Solid In September
21 October 2019

[torp] 22/10/2019 12:27

Noirua - "Red Rock share price was up today by nearly 12%"

lol

3m shares bought and then sold. Big whoop !

Nobody falls for that stuff anymore.

Same with raising the Ask and not the Bid in order to get the share on the
Share Risers boards and so on. Tired old tricks that people have seen over and over and over.

Keep pumping old bean, it's comedy value if nothing else

This is a lifestyle share, nothing more. No value proposition imho for
shareholders but believe what you will. Only the BOD and cronies win here.
Lion's share of available monies goes into their salaries and expenses.

Simply preposterous.



DYOR

[noirua] 22/10/2019 00:52

Red Rock share price was up today by nearly 12%. A very long way to go I know but it is a start. Awaiting announcements for Musonoi and Mid Migori in the very short term - just around the corner.

[noirua] 21/10/2019 13:18

Provided a JORC resource is achieved similar to adjacent Area 5 at Musonoi and a mining license is rubber stamped by Kenya's mining Minister matters are fine.

[noirua] 21/10/2019 13:06

The Company's issued share capital consists of 676,049,662 Ordinary Shares of 0.01p each with voting rights. No Ordinary Shares are held in treasury.

Even after the uplift in price this morning to 0.45p the market cap languishes at £3.042 million.