Red Rock Resources Share Discussion Threads

[ciao4niao] 07/4/2014 08:03

The rush for the exit this morning is a reflection of the man's credibility. Not surprising really.

[seagullsslimjim] 06/4/2014 18:06

Andrew, sorry I mean Ettie - lets see what the market thinks as the Co's issued capital spirals towards 2 billion shares in a classic spin / wash cycle where only 'certain individuals' come away smelling sweet.

Love the bit regarding the Lemon offer too.

The meaning of a half truth (with thanks to Wikipedia).....

"The purpose and or consequence of a half-truth is to make something that is really only a belief appear to be knowledge, or a truthful statement to represent the whole truth, or possibly lead to a false conclusion. According to the justified true belief theory of knowledge, in order to know that a given proposition is true, one must not only believe in the relevant true proposition, but one must also have a good reason for doing so. A half- truth deceives the recipient by presenting something believable and using those aspects of the statement that can be shown to be true as good reason to believe the statement is true in its entirety, or that the statement represents the whole truth. A person deceived by a half-truth considers the proposition to be knowledge and acts accordingly."

From that i'd say half the truth, half the man !

[ciao4niao] 06/4/2014 15:48

seagullsimjim, that wouldn't be a crumb of comfort for me! I'd be suicidal!

[atinos auntie ettie] 06/4/2014 15:42

New ventures being distractions is a perverse thing to say. The weekend's message is: as one door closes another opens. If it was one closing and none to open which you seem to feel is preferable, one would be trapped within a cage. Anyone disheartened by recent ripples can be reassured by new interest in El Limon and Tshipi's billion dollar upside. A potential scenario to whet the appetite: Jupiter selling it's half share with cash proceeds flowing back to equity holders through a special dividend. And that is an asset sale more likely than not.

Those who claim mistruths of others must mind their own. Only free and matching is incorrect as a discreet purchase was made this year. Saying offers are reported as definitive and then changed to indicative, not so, it was always stated. Synonymous with Letter of Intent, by nature these cannot be relied on. Perhaps it should not have been entertained at all as Jupiter refused to entertain an indicative offer they received that year. The market is not always willing or ready but recent news is positive and deserves to be reflected in share price appreciation from here.

[seagullsslimjim] 06/4/2014 14:19

Arf - the problem is that Bell used the 'sensitive for the buyer' spiel as a cover for poor production figures.

Then when they did release some for the end of last summer they looked all rosy in the last few months which may have been caused by stockpiling or waiting to put them out whenever they hit a few trouble free months.

If Bell was an honest transparent person then he would release the figures for the last 18 months.

Ofcourse he won't so readers/investors will have to draw their own conclusions.

They could also draw their own conclusions on why Kenya seems to have stalled and why the GL RNS came out only after his bluff was called on it. If the fact that NAMA had put their stake up for sale hadn't come to light then he would have let it run and run.

On that matter i suspect that NAMA had advised Bell that they were putting their stake up for sale and this is why recently he has advised people to maybe put GL out of their minds.

Now that the sale has been disounted he can now reveal the buyer behind it. Here again it won't happena and readers should again draw their own conclusions.

The mention of a new buyer for Colombia and the folly into the Ivory Coast are distractions deliberatley used in the same RNS as the Greenland deal.

Nothing will become of a Colombian deal, but will enable Bell to spin things out for another 6-12 months and then drop the RNS saying that any offer made was actually an 'indicative' one and not a 'definitive' one.

"You can fool some of the people all the time, and all of the people some of the time, but you cannot fool all of the people all the time"

That will become apparent at 8am tomorrow morning on the market opening.

And why doesn't the CEO hold any shares in his Company ? (bar the free and matching) ??? - Lack of faith in the cards that he holds, or the gradual realisation that in a 'buyers market' you still need to sell the goods !

One crumb of comfort is - Imagine if he was your dad or relative !

[kezman01] 06/4/2014 13:53

"Trust the story ... the storyteller may dissemble and deceive, the story can't: the story can only ever be itself."
― James Robertson, And the Land Lay Still

[arf dysg] 06/4/2014 12:38

In the announcement, we are told, re the Colombian gold mine:

"Production continues at a satisfactory level. We expect to announce quarterly figures to March 2014 when these are available."

Previously, we were specifically told that Red Rock would NOT announce figures, because it was commercially sensitive for a potential buyer with whom they were negotiating. Does the publication of quarterly figures, therefore, mean there is NOT a likely buyer?

Anyway, it would be jolly good to see figures, especially if those figures cover the ENTIRE PERIOD from when they were last published until now.


Honestly, use it or lose it. If you've got good production, make the most of it. Otherwise, stop wasting time and money on it. Let's not spend our entire investing lifetimes in the never-never land of "It might be profitable... just a little more time... just a little more money."

[nash81] 06/4/2014 12:36

how much is our gold in Kenya worth?

[arf dysg] 06/4/2014 12:20

steve1905 (4461)

"research carried out suggested that the incidences of psychopathy among CEOs is about 4 percent"

That means that A. Bell esq. has 1 chance in 25 of being a psychopath. Now in all this confusion, I kinda lost count. I've got just one question:
ARE YOU FEELING LUCKY?



soulsauce 4463

"IVORY COAST
KENYA
COLOMBIA
GREENLAND
JUPITER MINES
RESOURCE STAR

how are things going to be paid for without further massive dilution and little or no chance of monetising any of the projects"


I might add: what happened to Chiwefwe: wasn't there a lot of manganese just lying around waiting to be picked up?

[noirua] 06/4/2014 11:25

I suppose it is fair to be negative after RRR's fall from grace; namely 16p a share.

Life in mining is a gamble, and Sirius Resources ASX:SIR had a market cap a little more than Red Rock; 5c a share. They drilled at Nova in Western Australia, down to 300 metres depth and found nothing much. Cash was running out and they had no where to go next. The MD on speaking to the drillers heard they had a few weeks spare before moving on an got them to go back and drill deeper in a last chance coral story.

The outcome is now well known, they hit the highest nickel and copper grades ever found in Australia. The share price took off rising from 5c to 70c on first days trading and hitting a peak of $5.20 [now fallen back to $2.60]. Every bank was falling over themselves offering cash.

The CEO was close to going bust himself but is now in the top 20 richest mining persons in Australia. A Mr Creasy who owned 30% can now retire in luxury after originally buying Nova to find and sell parts from the rocket that landed there, a bit of a failure that turned out to be.

[bam bam rubble] 05/4/2014 17:58

'Red Rock has applied for 3 licences in the Ivory Coast near the border of Ghana
under the project name Bettie - along trend from Newmont's 17Moz Ahafo Gold Mine'

Along trend means situated on the same gold belt. That doesn't appear to be true.
The acreage applied for is somewhere above the Cote D'Ivoire letters on this map;

[soulsauce] 05/4/2014 14:01

My take on the RNS for what it's worth.

I am broadly neutral to bearish on the RNS (more on my reasons later) but astonished how folk have been taken in by GL. Like many other right thinking people I have always thought there was never a viable GL deal on the table and I have been vindicated.
For weeks now Bell has been talking down GL and conicidentally waited until the next project was in place before calling time on it.
After all the expense on that project we are left with a white elephant while he moves on to the next while no doubt keeping the gravy train running and issuing endless more shares using successive dilutions in whatever way he can find whether it screws shareholders or not in the hope that the markets will turn less bearish. Another huge gamble at shareholders expense IMO.

IVORY COAST
The Ivory Coast project looks like it might have some legs but very early stage and I refer shareholders to the length of time that Kenya has taken. And how is this going to be paid for? What are the plans for monetising it in a more timely fashion than Kenya or any other Bell quest.

KENYA
Ahh Kenya, suddenly back on the agenda but still a country mile away from providing any value. Must be the longest running project to nothing in the history of mining. Still wrapped up with the Kansai complications. I would think only those who believed in the GL deal would think we will ever see any tangible value from there.
I remember listening to Bell many years ago as to how things were going to be so easy there and how they could process the tailings with minimal outlay - lol!!

COLOMBIA
So Colombia is still producing decent amounts of gold and some degree of explo done but another 'preliminary' proposal has been received from a new buyer - hmmmm really!! Well Bell's credibilty has been so eroded by most right thinking people with regard to the fantasy GL deal that he must really get something from here. The more cynical of us would suggest it's time to raise money and a Colombia deal is every bit as much a fantasy as the GL deal. Hope i'm wrong.

GREENLAND
I echo what others have said on this matter and remain extremely cynical but will say no more or may find myself in trouble.

JUPITER MINES
Still the jewel in the crown of RRR and could yet be it's saviour. I honestly think that the company will be bought out at some stage and could provide a nice wad for the company.

RESOURCE STAR
Nothing to say really, just another unecessary distraction a drain on the company.

In conclusion I don't think is a bad thing for focus to turn to gold as it might just be the right time to do that. But the question remains how are things going to be paid for without further massive dilution and little or no chance of monetising any of the projects - answers on a post card.

[soulsauce] 05/4/2014 13:19

rrrRRRrrr2 5 Apr'14 - 02:18 - 4459 of 4461 1 0

We will be laughing soon.

rrrRRRrrr many of us have been laughing a long time with regard to yours, and some other's, gullibility.

[steve1905] 05/4/2014 07:51

seagullsslimjim 4 Apr'14 - 21:21 - 4447 of 4459 5

"Seriously though, how can some people feel comfortable in stringing others along and feeling no guilt.

Then again i guess when you've done it for so long and are narcistic then you have no emotion or inter personal skills left"
==========
There was a very interesting documentary on channel four a couple of months ago. The subject was psychopathy, research carried out suggested that the incidences of psychopathy among CEOs is about 4 percent, four times what it is in the population at large

[kezman01] 05/4/2014 07:43

Tolstoy-one of the worlds greatest novelists.

"I know that most men-not only those considered clever, but even those who are very clever, and capable of understanding most difficult scientific, mathematical, or philosophic problems-can very seldom discern even the simplest and most obvious truth if it be such as to oblige them to admit the falsity of conclusions they have formed, perhaps with much difficulty-conclusions of which they are proud, which they have taught to others, and on which they have built their lives"

Francis Bacon-English philosopher, statesman, scientist

"The human understanding when it has once adopted an opinion ... draws all things else to support and agree with it. And though there be a greater number and weight of instances to be found on the other side, yet these it either neglects or despises, or else by some distinction sets aside or rejects"

A locked-in RRR punter- "We will be laughing soon"

Off to Aintree - Rocky Creek will run well hopefully.

[rrrrrrrrr2] 05/4/2014 02:18

We will be laughing soon.

[noirua] 04/4/2014 23:58

The astonishing performance of Jupiter's Manganese mine has been the stand-out for us recently. This asset has historically been extremely important for us, and the price declined so greatly, that it is a relief to see true value beginning to show through."

The shares of JMS finished trading at 8.1c, down from a high of 87c, quite a plunge. That equates to about £1.23 million. If traded in Singapore I suspect a much higher rating, so this holding is a good fall back or backstop.

[bam bam rubble] 04/4/2014 23:53

Clarification on the debt would be useful, looks to be in the region of -£1.2 million.

The value of RRRs Jupiter holding is also about £1.2 million at the last traded price.
Pledged to YA in any case so restricted until debt is repaid. And if sold before 2016 20% of anything over about £1m will go to Cornhill clients under a Dec 2013 agreement.

[nash81] 04/4/2014 23:26

those who going to AB presentation in investor day tomorrow should query AB on these issues!!

[kezman01] 04/4/2014 23:10

Johndee, of course it will.

It's not like there is a need to raise funds in the foreseeable future what with the impending asset sales.
No need to raise funds for the good old "working capital"
No need to raise funds to bail out RSL
Kenya is obviously self funding.
Nope, luckily we've got the Ivory Coast to bail us out...stroke of luck eh?

I would imagine the savvy investors will be up brave and early Monday morning, fingers hovering over the buy button,,why wouldn't they.

[johndee] 04/4/2014 22:30

RRR share price will rise next week. Continuing from today's good rise.

[noirua] 04/4/2014 21:57

If things got difficult JMS have arrangements to sell shares, not £3.2m unfortunately. RRR still have a royalty over their iron ore tenements.

This area covering RRRs new tenement proposals looks a good gamble on success, maybe underestimated by us all:
The 'BETTIE' license application should not be sniffed at but should be applauded.