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RRR Red Rock Resources Plc

0.0475
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Red Rock Resources Plc LSE:RRR London Ordinary Share GB00BYWKBV38 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.0475 0.045 0.05 0.0475 0.0475 0.05 3,793,298 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Iron Ores 0 -2.67M -0.0011 -0.45 1.24M
Red Rock Resources Plc is listed in the Iron Ores sector of the London Stock Exchange with ticker RRR. The last closing price for Red Rock Resources was 0.05p. Over the last year, Red Rock Resources shares have traded in a share price range of 0.0425p to 0.285p.

Red Rock Resources currently has 2,480,597,791 shares in issue. The market capitalisation of Red Rock Resources is £1.24 million. Red Rock Resources has a price to earnings ratio (PE ratio) of -0.45.

Red Rock Resources Share Discussion Threads

Showing 26526 to 26545 of 52300 messages
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DateSubjectAuthorDiscuss
06/5/2014
12:39
So, a person or persons could "lose" a couple of kilos every now and again and nobody would be any the wiser.

Sounds a bit slack to me !

az209
05/5/2014
19:53
Here, here!! And well said that man.
soulsauce
05/5/2014
19:37
Part two of Andrew Bell's response to 'Briarbank'
--------------------------------------

AB concluded his response as follows..............

"And the human factor: you can have good equipment, but if the humans doing the testing are not following proper procedures under proper supervision then the results will still be in doubt.

Further re cash cost: we get explosives delivered irregularly in large amounts (partly for security reasons). That major expense has to be time-allocated (by day? By blast?) correctly, as do some other costs. So costs as well as sales are lumpy.

Further: if we have 200m of mine development and in a given month we mine out 15m and develop 15m, that is easy. Costed vs cash cost. If we develop 0m, does that cause our cash cost to reduce? Yes. Artificially? What about 20m? When is work capitalisable and when should it be expensed? How do we know operating management is getting this right, or even understands the issue, despite what we tell them?

Now in Colombia it is not as in Canada, Australia, S Africa: there is not a long tradition of running gold mines to the most exacting global standards. So everything has to be created: the culture, the training, the supervision, the recording, the implementation. Again, it could be done in a month. Swamp the place with highly paid personnel. I recall once an Arab got an apartment in Park Lane entirely redecorated and furnished in a day or two: enough money thrown at it solved the problem. The PWC/corner shop problem again.

We could not solve every problem at once. Only sequentially. The next visit will focus on some of these issues. But a calm and measured approach has turned this round. If you know of a precisely comparable operation in Colombia that is doing it better, let me know. We would like to learn.

Meantime we progress small step by small step. There was a time when costs ran ahead: at that time it was proposed we engage SGS (from Switzerland) to build us for $250-400k a lab – which they would then have expensively run for us. Now we start from a basis of strict cost control, and the assumption that there is no alternative but to develop and train and work with local people, if this mine is to operate profitable and a culture that will allow it to continue doing so is to develop.

So that is the best answer I can give."

malcolmrigsby
05/5/2014
19:36
'Briarbank' from lse emailed AB about the lack of figures in Friday's RNS. Here is Andrew's long winded 2 part email response:
----------------------------

In response to my question.........Why no gold prod. cash costs in RNS............

Andrew has permitted the to copy and paste his response .............in 2 parts

"Yes, and though we did not say we would produce cash cost per ounce figures we would like to so long as they are accurate. On a quarterly basis, I would not feel sure of that yet; the longer the period the more secure.

Consider: to know cash cost per ounce we need to know production in period x, not just sales. Gold pours are every so often, which varies. Deliveries of dore bars to refinery less often again. Production estimation depends on good lab and sampling work, so we can look at grades. Production estimation also depends on good measurement of volumes/weights of ore going into plant. The two variables then need to be put together.

Ore going into the plant in one day, whether it is 20 t or 50 t or 100 t – how is it measured? By measuring/estimating the ore moving along the conveyor from the final ore bin into the plant for milling. Think about it. Like measuring the weight of traffic passing over a bridge without it stopping to arrive at a total weight passing over every 24 hours.

How fast is the conveyor going? Exactly? How do you know? How often is it tested?

How is the ore sampled? How representative is the sample? If at intervals, what intervals, and how rigorously is this observed and recorded?

How accurate is the weighing? How do we know exactly what proportion of the ore is weighed?

Different techniques can be used, depending on sophistication. Of course, with enough money, we could invest in what major mines have, but that would be like sending PWC in to audit a corner tobacconists. The cost kills the business."

malcolmrigsby
04/5/2014
20:07
'Many thanks' old chap (& VOTED UP) ^__^....(now 'pheck off' back to Lloyds, before i 'switch' on ya:-))) LOL

[...just joking Mike - i luv ya REALLY m8 - post amended *__*]

atino
04/5/2014
19:59
Atino

1. Find a picture and save it to desktop (or anywhere else)

2. Use a picture hosting site like Tinypic,com, click on 'choose file' and find your picture, double click on the picture and click 'upload now'

3. You will now have an option of 4 boxes, use the 'HTML for websites' box. Just copy and paste whats in the box into ADVFN's box that you write in.

mikestamp
02/5/2014
16:35
...just a Sunday banter...post...REMOVED:-) LOL
atino
02/5/2014
16:00
I make Red Rock's share at that rate around £1m per quarter, surely enough to cover all company overheads
roger ring
02/5/2014
15:51
Nil value for Mambare is about right as it's only laterite, mostly duff limonite
and the M+I resource is negligible at just 3MT. The inferred part can be ignored.

El Limon isn't quite at that stage yet due to liabilities. They'd have to pay for
staff retrenchments plus legal bills after a future care and maintenance decision.
Offloading to a local company for assumption of costs will achieve that nil value
rating but it's not there yet. For me it's a net liability until a buyer is found.

bam bam rubble
02/5/2014
15:42
Andrew Ronald McDonald bell?

Really?

No chance, that would mean he would have Golden Arches... Without any gold.

rjcdc
02/5/2014
15:41
Atino I agree but HOW??
soulsauce
02/5/2014
15:40
You wouldn't expect anything less from a shambolic CEO.
soulsauce
02/5/2014
15:40
Hmmm...(we need to get 'things' going right here, & at RGM)...
atino
02/5/2014
15:37
Atino - the lesson is...NEVER buy a share to which Andrew Ronald McMillan Bell is connected..there have been planty

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scotchoverice
02/5/2014
15:32
Red Rock Resources still exploring options in Colombia, By Jamie Nimmo May 02 2014, 2:23pm

Red Rock Resources (LON:RRR) is still looking at the options for its Colombian gold assets, including a possible sale of the El Limon mine.

The company, which also has gold projects in Kenya and the Ivory Coast, said the focus is on keeping costs low, while maximising the output at El Limon.
Four Points, which is 50.002% owned by Red Rock, reported a near-doubling of gold sales to 718 ounces in the first quarter.

However, this was a reduction from the preceding quarter when the company reported sales of 909 ounces.

Red Rock's total gold sales in the first quarter amounted to 2,607 ounces at an average price per ounce of US$1,259, which means it generated US$3.28mln in the three-month period.

Chairman Andrew Bell said: "We continue to focus our efforts on maximizing output levels and reducing our cash costs at the mine, while exploring both further mine developments and potential disposal options as appropriate.
"With multiple initiatives underway involving El Limon we look forward to the remainder of 2014 with optimism as we seek to unlock value for Red Rock shareholders."

hxxp://www.proactiveinvestors.co.uk/companies/news/68175/red-rock-resources-still-exploring-options-in-colombia-68175.html

atino
02/5/2014
15:31
...and I see 'Dan' enjoyed...BAILING out of RGM ^__* LOL hahaha
atino
02/5/2014
15:30
I see the market enjoyed those figures ;-)
soulsauce
02/5/2014
15:25
Smile...you are being sh*gged....may as well enjoy it....after all you are paying for the pleasure
scotchoverice
02/5/2014
15:22
Let this be a valuable lesson learnt Andrew...NEVER to buy a small scale operational mine...without conducting ur OWN DRILLING!! (Pheck relying on anyone else's NI 101/JORC!)
atino
02/5/2014
15:19
Thoughts on the RNS

- the declining trend in the last 3 quarters 1.0k > 0.9k > 0.7k, is described by
the Chairman as "quarterly sales show a continuation of the recent stable trend".
But Jan's update implied 111oz sale on Jan 5th was part of last quarter's output
making the adjusted quarterly figures more like 1.0k > 1.0k > 0.6k, a steep drop.

- cash costs left out so margins likely dire, backed up by the reference to less
output with more tonnage mined. 'Profitable' can only refer to gross profit imho.

- update held back to early May, most likely to mention a better April which then
wasn't mentioned so Q2 looks like being a 'continuation of the trend'

bam bam rubble
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