Red Rock Resources Share Discussion Threads

[noirua] 06/12/2019 09:43

Wide true spread: 0.414p/0.48p = 13.75%
CLNs v Musonoi and Mid Migori = your call guys
UJO

[noirua] 06/12/2019 09:12

BHP to Bump Up Stake in SolGold to 14.7% for $22 Million
26 November 2019

[seagullsslimjim] 06/12/2019 08:14

And if none of the two come off then it will business as normal.

Forget history at your peril.

[noirua] 05/12/2019 23:22

Time will tell with Mid Migori and Musonoi. If one of the two comes off well then great happiness will abound. If both come off well there will be tidings of great joy and mangnificant bountifulness.

[seagullsslimjim] 05/12/2019 11:59

10 days ???

I can hear the 12 days of Christmas joyfully humming in my head :-)

[torp] 05/12/2019 11:27

You can but chuckle really.

RGM

"The Transaction Shares as a whole would, if the required resolutions are approved at the GM, result in the issuance of 7,170,440,985 Ordinary Shares"

7 BILLION shares !

And then to cover up that colossal embarrassment another share consolidation.

What a cesspit AIM is!


Meanwhile back at RRR

10 working days till the £1m Convertible Loan Notes are due for repayment.

Placing is the most likely outcome imho but holders might have to reluctantly
accept the CLNs being rolled on for a 3rd year.

Tough times at RRR High

DYOR

[seagullsslimjim] 05/12/2019 10:56

Pump and dump old boy ! - now sharply down after the FOMO spike!

I guess you haven't read up on a certain J Parsons and how the Sound Energy price went down 95%.

Thick as thieves apparently and so should fit like a glove at RGM

[noirua] 05/12/2019 10:15

REGENCY MINES RGM shares move sharply upwards today.

[torp] 04/12/2019 17:01

Only 2 trades yesterday and one today, shown as a sell.

This is a dead horse, much like RGM, it simply hasn't stopped twitching and the
shameless bookies are still trying to get people to bet on it.

The old MO of tickling the fish with Update RNSs and then dropping dilutive
placings is so well established that nobody falls for it any more imho.
They've tried issuing CLNs to raise cash but then had to roll the CLNs on for an
extra year. That year is almost up and the problem remains. Where do you
magic £1m cash from to repay those CLNs??? I'm guessing they will have to kick them
down the road for a 3rd year but it's entirely possible they will go the dilution
route given they just changed their broker back to old friends Cornhill Capital
the placing experts.

Only the most naïve don't see what's coming imho.

Sit tight until 19th Dec and see what they decide to do with the CLNs imho

DYOR

[seagullsslimjim] 04/12/2019 16:27

jammy - best contact Andrew Bell if its a guaranteed banker!

Biscuit anyone?

[jammydodger1] 04/12/2019 15:38

Guys apparently ALGW soon to have a 100m credit facility signed and share price will go ballistic Company is only 4m mcap

[kemche] 04/12/2019 15:32

The ENTIRE enterprise is a crock designed to make the fat man rich. Everyone knows - even NoiruaEttieBellGoldHelplessClunes!

[torp] 04/12/2019 15:14

Noirua - "Hopefully one, Mid Migori, will be saved "


Migori is a total red herring imho.

Nobody was interested in it BEFORE RRR had their license revoked. If they ever
succeed in getting a replacement then I expect total apathy from the markets
just as before.


Noirua - "On the Greenland disaster, RRR still hold all the mining records for the future "

Greenland was sold off for £1


None of this sad and desperate ramping is going to save the share price from getting
further decimated by this BOD who are still taking stupid salaries and £millions
in expenses despite abject failure on all levels.

Now only 11 working days till the £1m of CLNs are due for repayment.

Selling Jupiter shares at the current decimated share price would be catastrophic for
shareholders so it very much looks like a placing will be coming imho.

I'd guess that to get a placing away they will need to give placees a huge
discount. They will probably get shares at 0.3p to 0.35p

As we all know once such a placing is conducted the share price always drops to that
placing price and usually lower than that.

Absolutely no point buying shares before that 19th Dec deadline imho.

DYOR

[noirua] 04/12/2019 14:12

Time will tell guys. I wont be foolish enough to say what will happen in the remainder of 2019 and 2020 or what the share price will be as that is up to the investors.

[greenpastures2] 04/12/2019 14:12

You are right Torp. There have been too many failures. You have to expect some but we are now in a situation where every thing hinges on Kenya and the DRC and RRR has virtually no cash and one really marketable asset.

[torp] 04/12/2019 14:00

Predictably Noirua once again tries pulling the old "sum of the parts"
sleight of hand trick to dupe people. Shameless stuff.

The El Limon royalties which he persists in simply quoting as $3m as if that were
cash in the bank is an appalling mislead. The last reported quarterly rate was
a mere £13,658 for the quarter which is just laughable. What that means is that
at that rate it would take over 100 years to recoup that $3m via the 3% and 0.5% NSR
royalties. It's an appalling mislead as I said.

The only decent asset here are the Jupiter shares which have lost £2m of value
in the past 4 months.

The BOD fritter away the lion's share of any cash on Admin and other expenses
which add no shareholder value. THAT is why the "sum of the parts" nonsense
is just a complete sleight of hand trick to dupe unwary PIs.

Between 2012 and 2017 this BOD raised over £15m cash from dilutive placings decimating the share price in the process.

In the same time period they spent over £11m just on Admin and other expenses.


It is for that reason the "sum of the parts" nonsense doesn't apply. Whatever
value you believe exists in any given asset you need to take off approx. 70%
of it because that's how much would likely get frittered on expenses if they
cashed the asset in.

Noirua is getting desperate here and understandably so as the share price here will be in
the 0.3p levels in no time imho. Noirua is massively down on his investment imho.

He badly mislead many last year saying 0.6p was a great price to get in.

Today the Bid is just 0.4p.

Follow these shameless rampers at your peril.

DYOR

[seagullsslimjim] 04/12/2019 13:44

Noirua - you forgot this off the bottom of your post re Jupiter...

RETURN TO SHAREHOLDERS TO DATE - Nil, Zilch , Sweet FA.

[noirua] 04/12/2019 13:36

JUPITER MINES LIMITED ASX:JMS - - Red Rock Resources PLC 'RED' holds 17,024,914 shares. Anglo only own a 0.3% royalty in Mount Ida iron ore production. Red Rock still hold 1.2% at present and 0.75% if the full US$8 million payment is made by Anglo Pacific. Daily chart:

Jupiter shares 17,024,914 at 25c = AUD4,256,228 GBP2,222,921
Dividend received= AUD680,000 GBP356,000

POWER METAL RESOURCES POW - - 25,000,000 shares held. Company also has 25m warrants convertible at 1p up to 2022.

POW 25,000,000 = GBP93,750

PARA RESOURCES INCORPORATED TSXV:PBR - GOLD - 2,500,000 shares and 2,500,000 3 year warrants exercisable at CAD0.30 per para share. News Video July 2019:

Para 2,500,000 = GBP190,000

El Limon royalties - value to RRR US$2.95 million.

[torp] 04/12/2019 12:35

Worth noting that the Jupiter share price has dropped significantly over the past 6 months.

(note tho that a dividend has been paid)

The RNS from 2nd Aug here stated that the holding was worth over £4m

Today the Jupiter shares are worth just over £2m. That's a lot of value loss.

Here's the Jupiter chart:




With the shares having lost so much value I can't imagine that Bell will want to
cash them in to raise cash to pay down the £1m Convertible Loan Notes whose
repayment is imminent on 19th Dec in just 11 working days time.
It would be a real kick in the teeth (again !!!) for shareholders if this BOD sold JMS shares
when they were down rather than when they were high. That for me makes the
dilution/placing option far more likely esp as the company has just changed its
broker back to old friends Cornhill Capital.

Possibly the CLN holders may have to resignedly accept the CLNs being rolled on
for yet another year, all other choices being evil ones.

All in all it just doesn't look good at all imho.

I still predict the share price here will be in the 0.3p levels by end of the year.

DYOR

[kemche] 04/12/2019 12:19

It’s an Opportune Time to Be Looking at Fundraising

[noirua] 04/12/2019 11:33

Reg Spencer: It’s an Opportune Time to Be Looking at Batteries

[seagullsslimjim] 03/12/2019 20:12

Gold rising !!! - man the floodgates - the Lemon gold mine may go into overdrive with its royalty payments.

Marvellous scenes for all.

[torp] 03/12/2019 17:38

Kemche - "when is the fundraising?"

Well only 12 working days to go before that 19th Dec deadline when the £1m CLNs need paying off so if one is coming it will be imminent. Not guaranteed of course, they may pawn off Jupiter shares instead, or they may kick the can down the road for a 3rd year.