|Red Rock Resources
||EPS - Basic
||Market Cap (m)
Red Rock Share Discussion Threads
Showing 43301 to 43322 of 43325 messages
|Where's the strength on buyers holding here?Gains going back again gutted as shareprice drifting back again away from that 1p+?|
|Mining Bulletin - 21st April 2017
|Just incase anyone's interested we have a red rock resources shareholder group on twitter. AB is in it too. You will have to follow me Chris brown and they i can invite you. We have a good group and just a few spaces left.|
|Let's see a blue day as recent rise been very positive for surge up through 1p+.Well overdue but can't complain as adding at this level a real bonus.dyor|
|Nice one as rrr moving with strong vibes as to at last a rerate up is well on course.Fantastic work from company as they move aggressively forward and towards what could be an imminent price spike up!|
|not anymore !|
|Keep the momentum going as investors can see rerate from here.Buys are looking more confident now as rrr are getting back in favour with punters.Nice rise so far today.|
|It has been, and always will be, Shoats Creek sans paddle!|
|Should be news from MYN by end of next week on the LM13 well at Shoats Creek. Last RNS was 21st March and work was scheduled to start within next 2 weeks from then.|
|Investors are they in for more good newsflow?Buying is a bit slow as mr bell not getting City interested with this hype talk announcements of company future looking great .Prove the drill progression at shoats creek is flowing well and bingo !|
|Yes Noirua, seems there's a glut of iron ore at present. Prices in Aussie are predicted to drop back in 2017 to $50 or $40.
No point discussing Mt Ida any further at this point.|
Jupiter put out a presentation of the various projects see here:
They expended $40 million of funding simply to complete the Feasibility Studies on Mt Mason and Mt Ida !
The Capital Costs of the Mt Ida project are detailed on page 20
Base Case - $1.582 billion
Option 1 - $1.751 billion
Option 2 - $1.760 billion
Option 3 - $1.818 billion
So if you're being specifically pedantic, then no not literally $billions but just under £2 billion nevertheless. Bear in mind however that these are just scoping study figures so common sense says the actual costs could be much higher.
Either way its a ton of dosh and imho Jupiter aren't likely to throw that kind of money towards that project unless the iron ore markets have really recovered and proven to have recovered to a stable level that would guarantee the business case.
Jupiter recently said a review of these projects is warranted but even so I can't see Mt Ida as either a short or medium term prospect at this stage. It's a great potential future nest egg though, no doubt there, but many years away yet surely?|
To develop Mt Ida would not cost billions as you say. As for the 14M$ RRR have not received it all yet. see below.
Its worth remembering that RRR have a royalty which was 1.5% but 50% of it was sold for $14m in 2012 only $6m of which has been paid so far. (see below). If Mt Ida ever gets going again the Royalty interest sill held + the balance from Anglo must be worth over $20m? For investors not following RRR at that time it may be a potential asset not in anyone calculations.
The RNS in May 2012
Red Rock Resources plc ("Red Rock" or the "Company"), the gold mining and exploration company with projects in Greenland, Colombia and Kenya, and interests in steel feed, uranium, and rare earths, reports further, following the earlier announcements made on 6 February 2012 and 10 April 2012, on the sale to Anglo Pacific Group plc ("Anglo Pacific")(LSE:APF)(TSX:APY) of a 50% interest in the Company's 1.5% gross production royalty over any production from the Mt Ida iron ore project.
Following successful due diligence inquiries, the Foreign Investment Review Board of Australia granted approval for the transaction to proceed, and Jupiter Mines Ltd executed a deed of assignment of the sold interest as required. Subsequently, on 1 May 2012 Red Rock and Anglo Pacific successfully completed the royalty sale transaction.
The Tranche 1 payment of U.S.$6,000,000 for 0.3% of the GRR has been settled by the payment of U.S.$3,899,999.81 less some applicable costs and the issue and allotment to Red Rock of 416,161 new Anglo Pacific shares. These shares were valued at approximately $2,139,730 at the close of trading on 1 May 2012 and will rank pari passu in every respect with the existing ordinary shares of Anglo Pacific. The Board understands that Anglo Pacific will make applications to the UK Listing Authority, the London Stock Exchange and the Toronto Stock Exchange for the new shares to be admitted to the official list.
The remaining tranches of the acquisition total US$8 million and will be paid as follows:
-- Tranche 2: US$4 million payment for a further 0.225% GRR following the results of a positive definitive feasibility study (DFS), a formal decision to mine and that 20% of the pre- production capital costs outlined in the DFS are provided for.
-- Tranche 3: US$4 million for a further 0.225% GRR following the commencement of commercial production, taking the total to 0.75% GRR.|
|Whatever sum is due here should immediately be discounted by a minimum of 90% as that has been the ballpark decimation of value of any project entered into by the portly one.|
|'JMS own 49.9% of tshipi....red rock has a 1.2% stake in JMS.
Correct, and that's what I have been saying. Jupiter own Tshipi, not RRR. Owning a small bit of Jupiter is not equivalent to owning Tshipi.
@JDS, yes absolutely I agree with you about Mt Ida. The fact that a royalty exists there means it is the most important Jupiter project for red rockers. The rock needs income. To get to that place though, imho, you need:
1. Iron ore price to rise well above $100
2. Jupiter to acquire $billions in cash
3. Jupiter to expend that cash on developing THAT specific project vs any other project
4. Time to develop and progress Mt Ida to the point of useful production
Would you agree with those 4 points? Happy to discuss them if not.
So I can see the future potntial there, but it's so far into the future that it's not something I think many would buy shares for at this point in time.
Something else worth considering is where is the $14m you referred to from the previous 50% sale of that royalty? How and why does RRR sit with a tiny MCAP if it had that amount of cash? That situation is why you can't just say "wow RRR is getting $1m in so the MCAP will increase by $1m". How any money gets used and expended and how much or little shareholder value it delivers is the key issue there.|
|JMS own 49.9% of tshipi....red rock has a 1.2% stake in JMS. Plus 0.75% royalty in mount.|
|Torp i suggest you read the latest presentation on the RRR twitter pagehttps://twitter.com/RRR_RedRock/status/849332686120464385|
|Who said anything about a royalty if they sell Tshipi you have not understood the question. If Jupiter sold Tshipi the millions needed would be in their bank so that would not be a problem. My question was if Mount Ida was developed what would RRR royalty be worth. I thought you may have a view but is seems not. The answer is millions as 50% was already sold for 14M$ a number of years ago. Mount Ida will be developed at some point,its just a question of when.|
|If they sell Tshipi, there's no royalty involved so that part of your question is irrelevant. Tshipi is an existing asset of Jupiter so its value is surely already factored into the Jupiter share price to a large extent.
Mt Ida is a long way off. Iron ore price has to recover a long way before they would consider it imho and even then it requires $millions to develop it so the business case has to be significant. Even then, how long will it take to develop and get to production? Who knows . . .?|
If Jupiter sell Tshipi and restart Mount Ida what do you think the royalty
value to RRR will be?|
|'RRR eill get the money for Jupiter sale'
What on earth are you talking about?
RRR own a few Jupiter shares, that's it, and they have a royalty with the Mount Ida project. RRR do not own Tshipi. What part of that don't you understand?
Here's the link to the Tshipi website which tells you clearly who owns it:
"Tshipi’s equity is effectively held by three leading organisations, being:
Ntsimbintle Mining Proprietary Limited, South Africa’s leading black owned manganese investment holding company, led by Saki Macozoma;
Jupiter Mines Limited, which amongst other significant shareholders is backed by POSCO, the world’s fifth largest steel producer and is led by resources legend Brian Gilbertson; and
OM Holdings, a leading manganese ore and metal producer and marketer, listed on the ASX and led by NT Low."|
|If you guys believe all that why don't you just sell? Or if you sold why bother staying on the bb? Believe what u want but RRR eill get the money for Jupiter sale, not necessarily the shareholders but it will put the company in a much better position with the fund needed to invest in there other assets or possibly new ones if the opportunity comes along. If you ate invested it might be better to be more up beat otherwise you will put off new shareholders and your investment won't increase. I believe this year the company will come good, i know if u are LTH's then u you have had a tough few years here. But things are going to get better. I'm only in the past year. I think its a good investment on assets vs market cap and slow burn rate + some revenues coming in should keep a placement away for a good while.|