Red Rock Resources Share Discussion Threads

[soulsauce] 30/4/2014 12:44

Company Chairman Andrew Bell comments:

"This fundraising substantially completes the deleveraging efforts initiated by the Company in 2013. This effort, while challenging at times, has improved the Company's current financial position. Along with the exciting exploration activities in Ivory Coast on the horizon, Red Rock retains numerous potential value-enhancing projects and investments in its portfolio, which it will continue to seek to monetize in 2014."

Complete nonesense, spin and drivel as usual.

[fangorn2] 30/4/2014 12:37

And there's the expected capital raise...

"30 April 2014
Red Rock Resources plc, the mining and exploration company with gold interests in Colombia, Kenya, and Ivory Coast, announces that it has agreed to issue an unsecured convertible loan note of GBP550,000 ("Convertible Note") to YA Global Master SPV, Ltd. ('YA Global'), which is advised by Yorkville Advisors LLC ('Yorkville').

The notes yield 10% per annum, have a maturity of 12 months, and are able to be converted into ordinary shares at any time, up until maturity. The conversion price will be determined by a formula equal to 94% of the three lowest daily volume weighted average prices during 15 consecutive trading days beginning on the first trading day immediately following the delivery of a notice of conversion by the bondholder with a price cap of 1 pence. The notes fall for repayment on 29 April 2015 if not previously converted.

Of the total proceeds, GBP90,000 will be withheld by YA Global and released to the Company in tranches of GBP45,000 in May and June respectively provided that all shares due to be delivered to YA Global have been delivered by these dates.

The proceeds of the Convertible Note will be applied to debt reduction and to working capital purposes.





Company Chairman Andrew Bell comments:

"This fundraising substantially completes the deleveraging efforts initiated by the Company in 2013. This effort, while challenging at times, has improved the Company's current financial position. Along with the exciting exploration activities in Ivory Coast on the horizon, Red Rock retains numerous potential value-enhancing projects and investments in its portfolio, which it will continue to seek to monetize in 2014."

[staffiex] 30/4/2014 09:14

Oh L'amour, what's a boy in love with Road 'Reck to do:



Ivory Toast, morelike.

[bam bam rubble] 29/4/2014 16:55

Probably wasn't moving due to large sell orders in the wings, e.g.
16:27 1,500,000 @0.31p
16:29 2,000,000 @0.30p

If it wasn't for a high-net-worth PI building a 5% stake and soaking up such orders (see recent holdings RNSs) the share price would likely be even further in the pits.

[darren81] 29/4/2014 15:25

we've had 2.8m buys now in a row at full ask and still the share price hasn't move yet earlier it was decimated after a simlar after a similar number of sells.

AIM really is ridiculous!

[arf dysg] 29/4/2014 15:08

...and if Columbia do a good job on the production of their rock, the result might go gold, or even platinum if they're really lucky!

...but they're probably not allowed to employ minors.

[nash81] 29/4/2014 14:30

Atinos auntie Ettie

following on from my email below, i will take your advice to increase my holding here, be it from all my savings BUT, i will only do that after AB buy more shares in RRR (ie not getting free via placing etc, not in lieu of salary etc and not indirectly by buying RGM - i really mean for AB to use his own pocket money and buy more RRR from the market !!)

let me know once he has done that !!

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nash81 29 Apr'14 - 12:12 - 4607 of 4608 4 0 edit

Atinos auntie Ettie

how come AB hasnt bought from open market, increasing his stake in RRR?

[jeffguru] 29/4/2014 14:09

He's a clever man, that's why he won't.

[nash81] 29/4/2014 12:12

Atinos auntie Ettie

how come AB hasnt bought from open market, increasing his stake in RRR?

[soulsauce] 29/4/2014 12:10

People sell for all sorts of reasons whether at a loss or not, could even be the latest funding being worked through the system.
RRR and it's inept CEO give investors enough reason to take the loss and move on even if it is for their own final piece of mind after investing in this pile of poop and being skanked by those supposedly in charge!!

[nash81] 29/4/2014 12:07

i mean, most people will have much higher average, hence selling at this low will be at loss...

[soulsauce] 29/4/2014 11:58

How many reasons do you need nash?

[nash81] 29/4/2014 11:52

why people want to sell at current sp? or was it stop loss being hit?

[hernando2] 29/4/2014 11:28

AB and his quotable sayings, his most useful one for any potential investors was given in an interview , not long after the very famous 'fish and chip shop ' conference call.

He said, ' Investors should realise that RRR and RGM are very high risk exploration investments, and as such only a vey small part of one's assets should be invested'.

This is very good advice from the main man, unfortunately this is the only time I have seen him saying it or being quoted as saying it, he may do it in private to significant investors.

So i may be doing him a disservice, and he is very clear about this advice on an ongoing basisi

PS at the time of the interview the share price was still at well over 1p, so he was correct.

I posted this on Lse to give a bit of history for daniel san , i hope he has very deep pockets

[johndee] 29/4/2014 11:26

He probably knows that once the figures are out the share price will drop further. Hope I am proved wrong.

[darren81] 29/4/2014 11:08

being invested in this company truly is depressing - where is the promised production figures AB?? The continual decline is completely due to your inability to deliver your promises in a timely manner!!

You shouldn't need a month to obtain production figures for a tiny mine like Columbia!!

[knoblet] 29/4/2014 09:13

Ettie how come you don't hold any shares?

[christo14] 29/4/2014 08:59

Ettie why would anyone contemplate buying RRR shares when they know you are sitting there creaming your knickers at the thought of a further 650,000,000 dilution!

[soulsauce] 29/4/2014 08:21

Atinos aunt ettie (a.k.a Andrew) anyone with half a brain having an interest in RRR will do a certain amount of due diligence and that is where any interest will end, quite abruptly I would expect.

Shame you did not carry out the required due diligence in Colombia ;-)

[johndee] 28/4/2014 20:10

Bunky3 is on MTV thread recently.

[ciao4niao] 28/4/2014 19:56

A a E, for people to buy into this company, they have to have confidence in the management skills of the BoD. And that appears to be seriously lacking here. On past performance, do you blame them?

Loads of hollow promises and virtully no delivery!

[fangorn2] 28/4/2014 19:47

buy in the market to enlever a more workable average

So Atinos Auntie Ettie, I'm intrigued.

In what context are you using the word "Enlever" - it's quite out of character for you to use such it has to be said having experienced your prior posting habits. Perhaps a remnant of your days at Morgan Grenfell- seems unlikely as I never came across anyone there scribbling thus.

Is the use of French really necessary there when perhaps a simpler phrase will do - for example "Average down you muppets!"


An eminently sensible investment approach. If only all shareholders would demonstrate a similar level of courage and commitment!

I guess you've never heard of the phrase "Don't throw good money after bad" then