Red Rock Resources Share Discussion Threads

[noirua] 17/10/2019 16:48

Atinos auntie Ettie - 16 Oct 2019 - 12:56:11 - 8771 of 8780 RED ROCK RESOURCES PLC - Information Thread - RRR
Now is presumably the time to buy, when many are unnaturally fearful, and in advance of news flow which is surely just around the corner.

[kemche] 17/10/2019 14:02

HUGE!
MASSIVE!

[noirua] 17/10/2019 13:55

Repeating once again; we are awaiting news on the mining license at Mid Migori being rubber stamped by the Mining Minister of Kenya, and a JORC Resource at Musonoi, DRC.

There are no more important matters other than these - news on both are imminent.

How you buy or sell shares in RRR is your call - very good fortune to all shareholders.

[noirua] 17/10/2019 13:09

BOD Botswana Diamond's deal on diamonds bodes well for a revival in Amulet.

[noirua] 16/10/2019 15:01

* As at 30 April 2019, Charles Richard Topham’s holding in Red Rock Resources Plc is 108,753,210 ordinary shares, representing 16.09% of the Company’s issued share capital. The shares are held via HSBC Global Custody Nominee (UK) Ltd.

As shown one shareholder has reduced their holding and another has increased theirs.

[torp] 16/10/2019 13:57

Jupiter divi's don't even cover the preposterous expenditure by this greedy BOD
on Admin and other expenses which last year ran at approx £850,000.

The facts don't lie so I never pay heed to the Billy BS spouted by ramper Noirua here. Essential to do one's own research.

I recommend readers look at the last Half Year report to end Dec.


At that time the company only had a mere £27k in the bank

At the same time the Total Current Liabilities were £2.7m

Quite a disparity.


Since Dec they raised approx £323k from a placing
Received approx £250k from a Jupiter divi

And then started selling down the "family silver" Jupiter shares
selling 1.5m of them to raise I guess just over £300k

Not a great sign TBH

Noirua is aware of all this but continues to peddle his Billy BS "jam tomorrow"
nonsense.


All value is sapped away by the BOD's crazy expenditure on admin and other expenses
and of course their salaries.

Large 13% investor Daniel Sklan came and went and dumped his shares last year

Another large 13% investor Peter Gyllenhammar also started dumping his holding
last Christmas and has been steadily dumping since. Last reported at 4.77%.


With naff all income and those preposterous expenditures I can only personally
see lots of dilution or continued pawning off of the "family silver" Jupiter
shares. share price will only head south as a result imho.

It is for me nothing but an AIM lifestyle venture for the personal enrichment
of the BOD.

DYOR always.

[noirua] 16/10/2019 13:10

Laptop15, The cash situation has to be quite low though a dividend is due from Jupiter Mines some time in November - not announced as yet by the company. Should be about 3.5c a share, that is a guesstimate. I doubt 0.45p a share buy will be on the table much longer... probably about GBP200K in the bank account right now.

[atinos auntie ettie] 16/10/2019 12:56

Now is presumably the time to buy, when many are unnaturally fearful, and in advance of news flow which is surely just around the corner.

[seagullsslimjim] 16/10/2019 12:11

not too good i guess and price falling to almost a record low today !

[laptop15] 16/10/2019 12:01

What's the cash situation noirua at present?

[noirua] 16/10/2019 11:14

❖ El Limon, Colombia - Ongoing royalty payments $3m still to be paid

[noirua] 16/10/2019 10:59

Quite a lot of trading this morning as last of the weak holders sell. It has been a tough hold but news from Kenya on Migori is due as well as a JORC resource on Musonoi, DRC.
AB remains surprisingly calm whilst all around reach for the tablets and rennie. Dont worry guys, well don't over do it anyway.

[kemche] 16/10/2019 08:56

Pump pump pump!!!!!!

[noirua] 16/10/2019 08:47

6 March 2019 ( Note 7 Months ago )
Cobalt/Copper Joint Venture - Congo


Table 2: Old drilling (83 holes, 83 Drillholes completed, 13,054.3m, 9 X-sections, 100m x 50m drill grid, oxide mineralisation targeted).


Image 3: 3D model showing in situ ore in purple (FSSR + FNSR + North Ridge) lying outside mine outline (shown in brown)

==
ASX mining reporting - frequently asked questions
JORC Resource 2013 code, superseding JORC 2004.

[noirua] 14/10/2019 18:58

All the current information concerning assets are contained in the header.
The principal interests are Musonoi, DRC; Mid Migori, Kenya; Jupiter Mines share interest; and El Limon gold royalties.
Main liability is approximately £1.1 million in CLNs due for conversion at 0.8p in December.

[torp] 14/10/2019 17:20

Thanks, I have done my research and that research says this share is a total POS.

Any value is sapped away by the BOD's ridiculous expenditure on salaries and
admin and other expenses. No value left for shareholders.

Ramper on LSE has already stated that last year someone asked to have the company
wound up. Here are his words:


"There is such a thing as a member's voluntary liquidation. A large shareholder last
year wanted us to put the company into an orderly wind up and we said no"


These are spivvy shareholders calling the shots it seems. Why on earth would
I invest my hard earned here when such people clearly have a hold on the company?!
I doubt very much they have any interest in ordinary shareholders so if they
wound the company up I would expect ordinary PIs to lose out completely.

There are surely better AIM companies to go out without that risk.

Add to that the fact that this company only had £27k in the bank as at end Dec
and gets through c£850,000 just in Admin expenses alone and for me the result is
simply zero investment proposition.


The rampers shamelessly trying to pump this POS are imho deep underwater. The one
on LSE owns some of the £1m of outstanding CLNs and imho won't ever be able to
convert them as the conversion price is 0.8p. Small wonder they look for any
angle to pump the share. Their "sum of the parts" valuations are for me pure
fantasy and hugely misleading because they always very deliberately omit key
parts of that equation including the horrific historical levels of dilution
and the preposterous expenditures on admin and other expenses. If you invest
based on their valuations you thoroughly deserve to lose your money.

The only decent asset here imho are the Jupiter shares and the BOD have now
begun selling those off to raise cash which in the absence of any RNS to the
contrary suggests to me that the money raised is going to salaries and admin.
An extremely poor turn of affairs for shareholders if so.

I predict they will continue pawning off those shares.

DYOR

[noirua] 14/10/2019 15:00

A bid for Red Rock is getting a lot closer as the Cobalt price rallies 49% from low point. A quick take out would save complications for buyer. Do your own research and make a decision, your call.

[noirua] 14/10/2019 14:18

Glencore has agreed to supply 61,200t of #cobalt to a leading Chinese battery materials company GEM for five years, as China looks to secure supplies of the battery metal to meet rising demand for electric cars

Glencore signs five-year cobalt supply deal with China’s GEM Co
7 October 2019


After hitting $12 a pound in August, cobalt prices have risen to $17.9 per pound, according to Fastmarkets.

Glencore need to expand their 2 mines in kolwezi to make a super pit .... only problem is someone has the middle bit ... cue the RRR Musonoi pit 🤓

[noirua] 14/10/2019 14:00

Thoughts are that Amulet are considering taking an interest in Zimbabwe similar to VAST.

[noirua] 14/10/2019 10:23

Democratic Republic of Congo: Revision of the Mining Code and Regulations
October 7 2019