Red Rock Resources Share Discussion Threads

[bones30] 06/6/2014 14:49

Johndee, might happen, indeed.

[johndee] 06/6/2014 14:48

RRR has dropped a lot more than RGM since the highs of 2010. If RRR was 0.55 to sell today it would be RGM's equal at 0.26. As it is it is about the same as RGM's share price DNi will be RGM's bigger brother soon and it will be bigger than Jupiter Mines as RRR have just a very small part of that.

[atino] 06/6/2014 13:30

...if a 'bone' was thrown at you Bam Bam...(i bet)...you would 'jump up' and even rip that to pieces!!

...would a 'dog collar' suit you???...[fink about it m8!] We could ALL 'choke you'...by pulling HARD on the lead! (...Mutt!)...

Go & rip RGM...[or would like ME to do that??:-))

[bam bam rubble] 06/6/2014 13:21

On the subject of Jupiter's 'equity method' valuation of Tshipi,

If Tshipi spends $25m on capital expenditure in a year, all capitalised so +$25m
booked to non-current assets, and the mine makes a loss that year of $15 million, Jupiter would report not a loss but a $10m 'profit' using the equity method which
is nothing more than an accounting trick.

In the current manganese pricing environment and the cost profile of South Africa
Tshipi's direct-ore op is highly likely to be loss-making at this stage. Jupiters
accounts show as much; the tens of millions of 2013 capitalised costs ended up as
a $8.2m equity method gain after adjusting for the mine's profit/loss (read: loss)

[soulsauce] 06/6/2014 13:11

LOWRDR the placing is already working through, YA still had 39m shares to convert, but yes typically Bell.

[l0wrdr] 06/6/2014 13:01

Release an rns to raise the price then smack shareholders with another placing. Typical AB style

[soulsauce] 06/6/2014 12:55

A nice RNS to grease the conversion process lol.

[leopold555] 06/6/2014 12:33

Picked up a few this morning, wish I had more funds :-/

[atino] 06/6/2014 12:31

[...you don't say!]...Create a 'black market' to sell it then Hernando!

[I mean]...'Street pharmacists'...'illegally' sell stuff...all the 'time' (on the black market!!) LOL hahaha

[hernando2] 06/6/2014 12:27

JMS were trading at 8c when it went private, so a magical increase since then.

the numbers are made up at the behest of the board of JMS.

Try to sell them at the new price....

[atino] 06/6/2014 12:09

Careful not to get lead 'astray' here Datait...[but be rest assured...that 'other' posters will 'convince' you!!] (...be your 'own man':-)

Hope...the 'million' serves you 'well'....and welcome to 'Planet Red Rock' ^__^

[datait] 06/6/2014 11:57

Well thats me in just bought 1m shares.

[tpau] 06/6/2014 10:35

Doubled :-)

[atino] 06/6/2014 10:31

...'why' do I have a feel like...as if 'management'...'maybe' stirring something up ??? *__^

[soulsauce] 06/6/2014 10:13

Be suprised if it finishes 5% up Atino, but we can live in hope.

[atino] 06/6/2014 10:07

RRR going up...^__^

[so that normally means]...NO COMPLAINTS...coming from 'RGM eggheads' !!! (..right???)

[soulsauce] 06/6/2014 10:06

All helps to convert the loan Atino ;-)

[topicel] 06/6/2014 08:57

Johndee - and if you own both are you doubly shafted? Especially if you've been daft enough to retain them over these past four years...

Never forget AB himself said stale bulls were not required here any longer - basically implying that the money has been lost. Yep, he did!

Topicel

[johndee] 06/6/2014 08:31

RRR have a very small holding in Jupiter. When they sell it, how will AB spend the cash, that is the concern. RGM has to be the preferred stock to own of the two.

[atino] 06/6/2014 07:25

U know Kez...maybe u should concentrate on RGM & stay UPTO DATE with your own PREFERRED stock - rather than slag 'this one' off!

Try staying 'afloat'...(before news arrives) - like 'Atino' SHOWED YOU ^__^ LOL


[Quote] Andrew Bell, Chairman, states: "Developments at Jupiter Mines since its delisting have been excellent. Its producing manganese mine at Tshipi continues to expand towards its optimal 2.4m tones of production ahead of schedule, and from commissioning has constituted a profitable division for Jupiter; very impressive in current markets.

"Progress in resolving transportation issues at the Esperance Port in Western Australia bodes well for the eventual green-lighting of the robust Mt. Mason hematite project, which would likely ultimately result in production at the much larger and longer term Mt. Ida project, where the Company retains a 0.75% gross revenue royalty.

"As recently as December 2013 Red Rock was able to purchase Jupiter shares before delisting at AUD 5.6c, whereas current Jupiter figures put a Net Asset Value of AUD 21c a share, with 86% of this value tied up in cash and the Tshipi investment. True value is likely to be higher. This puts the book value of Red Rock's current holdings at $AUD 5.75m. Red Rock's current market cap sits at GBP3.84m, with GBP3.18m of this alone backed by this holding.

"While a non-core asset at this stage, the Company will continue to actively manage its investment in Jupiter with a focus on maximising ultimate disposal value."