Red Rock Resources Share Discussion Threads

[atino] 08/5/2014 11:45

"Ditto" Affe:-)) (...Pheck me fella!)... I've just said...pretty much the same thing...but in a few words! LOL ^__^)

[affemoose] 08/5/2014 11:43

I cannot see how the company can run if AB remains involved, his shadow would loom too large.
TBH, the whole board should go. They add no value, that has been proven for a long time now. Strip the company down to the minimum required to keep costs low.

Agreed re: Merge the two companies. Lets face it, the only one to benefit from the split was the BoD who picked up 2 salaries instead of 1. THAT's MAGIC!!

PLUS... magically, RGM holding so much RRR stock gives anyone a really hard time to EGM RRR BoD out. It's was a stroke of genius really ! :-)

Get rid of dross projects:
Somalian Potash? Yeah right - bin it. Somalia, Sudan wherever it is, it's flakey and a complete zoo - not worth any effort. Nobody serious will invest Billions in the Horn of Africa.

Kenya - Bin it, worth nothing, never has been and the relationship with MMM and Bruce has always been toxic. Utter waste of money. Even the mine next door has been put on Care and Maintenance because they cannot make any money.

Nickel Laterite - and the Direct Nickel system. Get this reviewed hard because it doesn't seem to be going anywhere. I like the idea of the laterite but the DNi stuff looks fanciful, but it's not my area, so will defer judgement.

Greenland - Take anything for it - nobody in their right mind will mine new Fe in the Arctic Circle for aeons to come. I know someone did it in Banff but so what, different world now. There is billions of tons of dry, easy, high quality Fe in Australia - why mine an iceberg?

Ivory Coast - fanciful nonsense, millions to spend to prove up resources, drilling etc. Don't have the cash. Plus...not the most historically stable area is it?

Mt IDA - good luck with that, no infrastructure available. Jupiter with it's Aussie roots chose not to contribute into rail and port expansion, so if they do not think it's worth a jot, why should we?

Colombia - Issue here is that nobody knows if it's worth the effort. No idea if the gold runs out 1 inch beyond the current face. Whoever did DD on this and bought into it as a company changer is mad.
Hire a really good Australian or South African Hard rock miner to draw up a plan to get to Feasibility Study stage. Ask the hard questions - Is it worth the money to invest to drill out and explore, money to expand and improve infrastructure etc???
If so - hire an experienced miner to run it and prove it up.
If not - mine it while it produces cash, when it stops being profitable (if it hasn't already) then dump it.

This leaves you with JMS share holding (good - keep it as collateral) and...

Future strategy:

Hire a decent CEO with experience in getting a mine up and running profitably - talk to Jan Nelson in XTR, he's got the T-Shirt and is respected, talk mergers with them also. get a working mine, a skilled miner as CEO into the bargain.

Will Jan get XTR to work? Hard to know right now but he has a mine, and is bringing it on stream. I hope he does - ask me in 12 months time. But IF he does - you have to ask WTF RRR/RGM have been doing for so long and achieving so little.

Get another small mine, use Jan to straighten it up and make it profitable. Use the cash flow to........Go to Chile, Western Australia, Pilbara, and focus. It's there, the skills are there, the infrastructure is there, it's stable.

No more fly by night whimsical nonsense involving Icebergs, imaginary Venture Capital companies and steam jungles 'paved with gold'.

Rant over - good luck with pooping nuggets Atino.

Affe

[atino] 08/5/2014 11:38

Very vaguely (as a group we must 'downsize'!):

Good bits to keep in RGM:
- DNI (...could be a monster, because it could act as a 'big brother' like Jupiter once did for RRR, if they're successful:-)
- Ram resources (Fraser Range...because Australia is buzzing over the Nova desposit)
- Mambara (...because drilling has been done & it could be proven 'economic', if DNI are successful)

Good bits to keep in RRR:
- JMS (Tshipi)
- Colombia (...only because we invested heavily in it & are in the process of selling it!)
- Greenland (because work/drilling has been already been done on it & we need to monetise it!!)

THE REST...'trash', or look to liquidate funds somehow !! (I.e sudan, soggy cornflakes, Mid Migori, RSL, Ivory Coast, Ascot, to name a few...must go!) all IMO:-)

[atino] 08/5/2014 11:17

...that's my point Mike !

...if you have ONE company (..and he's not at the 'top' if EITHER company, as currently is!)...THEN HE CANT DO IT - CAN HE ??? ^__*

But feel free to keep him at the 'top'...over at RGM...if you like [with his 'millions'!!!] (LOL)...I want 'change' on Planet Rock:-) And right now m8...I'm getting MORE confidence from Dan...than from OUR current BOSS !!

[mikestamp] 08/5/2014 11:12

Why on earth would he do that when he can cream 'working capital' from both.

[atino] 08/5/2014 10:50

Bob's your uncle..'Job done'! ^__^ (LOL)

[atino] 08/5/2014 10:41

I would personally like to keep Andrew 'on'," in some capacity (because he still he has a lot to offer, I believe:-)...[and it would be 'stupid' to get rid of him totally!!]

But that's not a bad idea Roger:-) Both companies need a new 'vision/direction' & a change of 'image'....

[roger ring] 08/5/2014 10:32

Maybe AB could stay as Chairman on a vastly reduced salary, and get a dynamic, younger CEO in and merge the two companies.

[steve1905] 08/5/2014 09:17

Shame he didn't accentuate the negatives when he ramped Colombian gold mine.

[roger ring] 08/5/2014 08:48

Just watched the Regency Presentation, no wonder we can't sell any of our projects at here or RGM, surely there must be someone in the company that could do a better job than that. What about Natasha, I thought she was head of Marketing, if not it would be worth paying a professional a few grand. I'd be put off buying anything if that's the way he does business, seems to accentuate the negatives all the time.

[atino] 08/5/2014 08:45

Dan...can you take 'Planet Red Rock'...places 'far & beyond' ? ^__^ heheh

[atino] 08/5/2014 07:45

Dan 'my man' *__*

(Bloody hell...again' m8 ??!! ^__^) LOL hahaha....First 5.5%...now 6.5%:-)) Wise move Dan....

(You know...amongst 'other' reasons) People originally bought RGM...partly due to Andrews millions....but (I say).... what's the point in having MILLIONS...when CONFIDENCE in the man is 'shattered' !?? ^__* ...he can have 'trillions' if he likes....LOL



Dan (you show MORE 'faith':-)- WOULD YOU LIKE TO BECOME OUR NEW BOSS ?? LOL hahaha ...(think about it! we can give Andrew a lesser role to play...but still leave him 'on the board'....so that he can keep a watchful eye, on his lovely Black Rock 'millions' !!!) hahahah

[scotchoverice] 08/5/2014 04:46

Funny how all Choppedfried's chickens seem to be roosting..no

[scotchoverice] 06/5/2014 19:31

I see Omar - ABs long term supporter - is now saying he predicted the downfall of the company. Funny, if you see the captain of the ship is sailing towards successive icebergs, why stay committed to the worshipful captain?

AB has been helping himself to a fortune in fees, emoluments from RRR and its set of loss making companies whilst successive rounds of PIs have been lured in by ongoing and new promises of jam tomorrow..

DYOR - research the full history of this sorry mess. How the company was originally ramped by brokers who were embroiled in boiler room scams. How many great deals like IPCM have been flaunted, promoted in paid-for media by the compnay- only to disappear in smoke with AB denying any responsibility....there is form and history.....

The only mantra here is "Never give a sucker an even break" ...

And one must question the integrity and motives of Omar. I suspect (though no proof, he holds no stock here but has invested considerable energy in encouraging others to lose money posting spurious commentary to deflect attention and criticism from where it should sit.

[cheesequarterpounder] 06/5/2014 17:36

Especially this bit:


"The US is a society governed by moral principles."



At that point, I gave up reading ..... !

[fangorn2] 06/5/2014 17:16

Roflmao.

Laugh a minute that newsletter.

[soulsauce] 06/5/2014 16:55

Latest newsletter:-



Ronald McDonald encourages shareholders to engage directly with the company instead of Bulletin Boards which contain 'unsubstantiated information' - Jeeze!!

Andrew shareholders need look no further than the share price and the share price graphs, they don't need 'unsubstantiated information' to tell them what dogs you have turned RRR & RGM in to.

[bam bam rubble] 06/5/2014 15:34

He did quite well to call a loss-making mine profitable and get it past the NoMad.

Based on the original projections the mine has been a phenomenally bad investment;
What is your best estimate of production for 2011?
Andrew Bell: At 150 tons a day, and we'd be disappointed if we weren't doing that
as we expect to go to 250 tons or maybe 400 tons per day later in 2011, and grade
of 20 grams a ton, would be 100oz/day (36,500oz/year). I can see that very easily.

Actual result for 3 years to June 2013: 2,548oz yearly average (7oz a day)
Average yearly pre-tax loss: -$1.6 million

Reads more like a glorified bulk sampling operation than a proper commercial mine

[soulsauce] 06/5/2014 14:42

No Atinos aunt Ettie today, hmmm. Even he can't put a positive spin on the respective SP's of RRR & RGM - dire and getting more dire!!