Red Rock Resources Share Discussion Threads

[bam bam rubble] 13/5/2014 15:31

More a bringing forward of RRRs loan receivable than a cash generative disposal

The receivable by Aug 11th 2014 (2013 balance plus 5% interest) will be £1.720m
Whereas the terms of sale is for RRR on closing to get £1.275m after commission

Leaving £0.445m still to recover to recoup in full, payable a year after close,
alongside a further sum of £0.445m ($750,000).
That surplus sum and the 3% royalty is effectively what RRR gets for the mine.

Adding the loan to make it seem a better deal is a poor show but to be expected

[staffiex] 13/5/2014 14:29

"which companies have shown a record of outperforming when the market recovers? which companies have sound foundations at this level? which companies have some really good assets? which companies are perhaps in gold as its the easiest thing to get moving? We qualify on all of those. We have a record of discovery, a record of producing resources, a record of bringing a mine into production, a record of putting together with Jupiter a constellation of parties that have brought one of the world's greatest mines into production..... and now we're doing some exciting new exploration in one of the hottest areas there is in the Ivory Coast and we have a good team that is good at exploration."

What a total load of fanny. Funny how he didn't mention his record of what he's done to Road Reck's Share Price...

[darren81] 13/5/2014 14:26

at least he's gauranteed his salary for another 3 months with the 50k

[staffiex] 13/5/2014 14:10

more guff from the bellend that sounds just like Greenland... What's the betting this 'deal' never goes ahead?

[nash81] 13/5/2014 14:07

RRR

news getting out:
hxxp://www.miningmaven.com/companies/aim-mining/red-rock-resources/red-rock-resources-colombia-update-interview-with-chairman-andrew-bell-20140513392/

[staffiex] 13/5/2014 14:06

"Like for like we think we are able to sell oranges at a good price to buy apples, we hope, at a better price...."

Selling Lemons morelike, Andrew, you Johnny.

hxxp://www.miningmaven.com/companies/aim-mining/red-rock-resources/red-rock-resources-colombia-update-interview-with-chairman-andrew-bell-20140513392/

[bad robot] 13/5/2014 11:56

Mickey Chunt face

[kezman01] 13/5/2014 11:37

Does anyone know how much the total outlay for Colombia amounted to ?

[mikestamp] 13/5/2014 11:17

LOL.........LEECH.

[kezman01] 13/5/2014 10:56

Two things of interest from the 2013 report & accounts, which should be taken into account when digesting todays RNS.
DO THE MATHS.

1. The loan due from Helm Bank Panama is recorded as £1,629,198.
When you add on interest at 5% (£81,460 ) the amount due is about £1,710,658

2. All of the shares in AGM( plus others) are held as security against a YAG loan


Todays RNS. Forgive me for being cynical but I have excluded the royalty. Feel free to crunch the numbers ( good luck with that one) and add the total to the pot.

Tranche 1
$US 2.5 m = £1,481,657.50
7% comm. = (£ 103,716.03)
Nett payment. = £ 1,377,941.47

Tranche 2
(satisfied by the issuance by NMC to Red Rock of a non-interest bearing promissory note (the "PN") due and payable on or before the date that is one year from the closing. Security for the PN will be held in the form of a charge over 100% of the shares in AGM)

$US 1.5m. =£888,994.50
7% comm. =(£62,229.62)
Nett payment. =£826,764.92

Total received by Red Rock = £2,204,706.39

[bad robot] 13/5/2014 10:45

It could up to 0.5p though

[rrrrrrrrr2] 13/5/2014 10:10

On target. There is no small print.

Let it go guys. You may have lost money but don't lose your health.

[seagullsslimjim] 13/5/2014 09:55

So in GBP£ it's circa £2.2m plus the royalties.

Wonder how much was put in and Mike - do we get to keep the crusher :-)

[on target] 13/5/2014 09:43

By the way it's not $5m if you read the 'small print', it's $3.65m + 3% royalty on net sales.

[staffiex] 13/5/2014 09:40

Taco Bell.

[bashers2] 13/5/2014 09:33

Of course as you say - if it goes ahead - but assuming it does it's a good deal. Colombia is a drag on the company - take the money, get out and start again, but not in Colombia!It's like being in a losing position (well, like RRR) and someone comes along and gives you a break even get- out - most of us would jump at it! Not sure if it actually does give RRR break even but you know what I mean!Bashers

[bad robot] 13/5/2014 09:28

that 5M will go on directors salary.

[rrrrrrrrr2] 13/5/2014 09:26

Dimmer. lol quel surprise. He could have got a billion and you would still moan it was raining.

[dimmerginger] 13/5/2014 09:11

Bad news here tbh. If it does go ahead? It will be sold on the cheap and not a good deal for shareholders as the money will be squandered on high cash burn. Becasuse rrr have little cash it doesn't have the high ground when forced to sell up assets. Anyone looking to trade this today will only get locked in with the other long term stale bulls.

[staffiex] 13/5/2014 09:04

Letter of Intent only... as yet no money in Bell's pocket. Probably not a bad thing given how incompetent the eejit is with other people's cash.

[bashers2] 13/5/2014 09:02

Whichever way you slice and dice this proposal - it's good news! Sold Colombia and 5Mn in the corporate pocket - a problem out of the way!Morning Mike Stamp - always amusing to read your posts - just wished you wouldn't sit on the fence like you do! :)Bashers