Red Rock Resources Share Discussion Threads

[kemche] 03/4/2020 13:58

Sausage Rolls at Greggs holding strong at £1.10. Menu at the shop.
Walls sausages £1.85 for 8, likewise bacon.

[noirua] 03/4/2020 11:14

Gold walks along wall 1600. Wobbles and returns. Walls 1700 and 1800 beckon.

Covid song in the header.

[60000 muppets] 03/4/2020 10:05

GBP up 6% against EUR & 5.5% against USD last 2 weeks.
Gold up 5.3% same period.

Now about those mushrooms...

[noirua] 03/4/2020 09:50

Gold remains around the US$1,600 level and is well OK when put against the tanking £ sterling.

[greenpastures2] 03/4/2020 09:11

You have to wonder whether some people are rational enough to be investors. We all make mistakes but failing to recognise reality is a major defect.

[60000 muppets] 03/4/2020 08:59

Noirua

Quick question if I may.

When will you be joining the Trump Administration daily briefing team, and will you still have time to manage your extensive share portfolio whilst at the same time updating us plebs with your inside knowledge of all things Red Rock ?
Asking for a concerned nation.

Also I've heard that if you gargle with mushrooms it prevents the virus....can you confirm.

Thanks in advance

[replicas1967] 03/4/2020 06:31

Will 0.10pence hold here this year ?

[noirua] 03/4/2020 00:22

FRom looking at the price paid by Red5 on a recent purchase and with a 2012 JORC Resource but requiring further drilling, I can see that the 1.2m ounce JORC Rresource at Mid Migori can be valued easily at US$20 per ounce Au. Valuing the resource at US$24 million. The 67,000 ounce gold tailings an additional US$1.67 million.


The above subject to the award of a mining license,

[torp] 02/4/2020 23:40

Noirua BS - "Fortunately Red Rock still has its holding in Jupiter Mines Limited"

Those who do their research here know all too well that the face value of any
holding is not the real value. That's because approx. 75% of available cash ends
up spent on salaries, admin and other expenses.

The Jupiter holding is no exception. Already last year between Aug and Sep
the company cashed in 1.5m of those shares to raise cash without directly RNSing
the fact and thus we have no choice but to assume the cash was used for admin
and expenses. Awful value loss for shareholders imho.

This is unfortunately the constant case here as the yearly figures attest.

Take a look

2012 - Loss of £1,962,882 --- Cash raised £4,441,844 - Admin £2,275,786
2013 - Loss of £22,105,562 -- Cash raised £4,103,795 - Admin £4,751,948
2014 - Loss of £4,113,460 --- Cash raised £2,723,861 - Admin £1,563,808
2015 - Loss of £8,411,541 --- Cash raised £2,327,377 - Admin £1,334,404
2016 - Loss of £283,280 ----- Cash raised £1,155,323 - Admin £758,351
2017 - Loss of £1,114,213 --- Cash raised £300,000 --- Admin £644,688
2018 - Profit £78,120 ------- Cash raised £421,668 --- Admin £849,518
2019 - Loss of £1,723,881 --- Cash raised £853,089 --- Admin £591,777

Total Losses above - £39,792,939

Total Cash Raised - £16,326,957

Total Admin - £12,770,280



Over £16m cash and of that over £12m of it went to Admin.

It's utterly preposterous and just ridiculous

Whatever the current value of the Jupiter holding is, what we can deduce is that
some 75% of it will eventually end up spend on Admin and other expenses like
everything else.

Hence, no, it doesn't underpin anything here imho.

The current BOD will continue sapping all value away in salaries and expenses
for as long as they can continue to imho.

Uninvestable

DYOR

[kemche] 02/4/2020 20:18

"in his case more No Hope than the great Bob Hope."

Says the irony impaired Noirua.

[noirua] 02/4/2020 18:33

Fortunately Red Rock still has its holding in Jupiter Mines Limited that well exceeds its market cap and hopefully a dividend will be declared in May. Other quoted share holdings are valued on market at around £120,000 - much reduced mainly by present market conditions.
Red Rock has value in past losses of about £42 million that could be worth up to £8 million against future profits as far as a bidder is concerned.

I expect Torp has supplied the negatives and many times. So I wont repeat them. No doubt another has supplied the Bob Hope one liners but in his case more No Hope than the great Bob Hope.

[torp] 02/4/2020 17:39

Half Year Report
.
.

Cash in the bank - just £139K
.
.
.

Total Current Liabilities - £2.36m

.
.
.

Admin & Other Expenses yearly equiv - £818K

.
.
.

Dire

[greenpastures2] 02/4/2020 14:11

I doubt any one will be taken in kemche. They would have to be real fools. How does he think RRR will be able to do any thing with those prospects now it has emptied its coffers especially in the times we are living in?

[kemche] 02/4/2020 13:40

Shameless hustler.

[noirua] 02/4/2020 13:37

Gold is ticking up again and over the US$1,600 mark once more.

[noirua] 02/4/2020 12:57

I have had a look through the Half Year Report and it does not make good reading. However, the Mid Migori gold prospect, no mining license, looks better as to prospective value. The opposite is the case for DRC with copper and cobalt weaker over the last six months.
Ongoing outgoings need to be chopped in half with a very low market cap of around just £1 million.

A private property renting company in which I have an inherited interest is reducing rents by 23%, back dated to March and up to December 2020. The two directors are reducing their salaries by 57% and 43%. The part-time secretary is taking on some extra work on the same salary. Others undertaking work are mostly self employed so not sure what happens there. The small amount of work carried out by myself will now be on expenses only. No employees are furlowed as far as I know and paid in full. No call on the Government like Tottenham Hotspur Football Club to be sure.

[torp] 02/4/2020 12:25

The shameless Noirua still desperately trying to distract people's attention
away from the company facts here with silly Coronavirus nonsense. The guy is
unbelievable.

Figures from Half Year Report just published:


Cash in the bank - just £139K


Total Current Liabilities - £2.36m


Admin & Other Expenses yearly equiv - £818K


Lifestyle company imho simple as

Uninvestable

DYOR

[60000 muppets] 02/4/2020 10:54

Meanwhile the views of a real expert as opposed to a know-nothing melt!!

Anne Rimoin, PhD, MPH, a professor of epidemiology at the UCLA Fielding School of Public Health and Infectious Disease Division of the Geffen School of Medicine

Face masks. How do they impact transmission? Do we need them?
A regular surgical face mask isn’t designed to keep out viral particles, thus is unlikely to provide significant protection against [novel coronavirus] infection.

A mask is useful if you’re sick and wish to prevent spread of disease to others. But if you’re feeling ill, it’s best just not to go to public areas and to stay home, if that’s an option.

The N95 respirators can provide protection against [this virus] if worn correctly, however these masks need to be fit-tested and are difficult to wear properly for an extended period of time. These masks should be reserved for healthcare workers who are at the greatest risk of acquiring infection.

[60000 muppets] 02/4/2020 10:39

Wow an Epidemiologist as well as a share guru. Very impressive.

[noirua] 02/4/2020 09:48

Most manganese comes from The Northern Cape and all mines are shut down. This should help the price. Of course it's difficult to know what demand will come from China in the medium term. Jupiter has large stockpiles of manganese as they had reduced their sales during the slump in the price. They are now seeking permission, along with other producers, to export from these stockpiles.

The Tshipi reserves are expected to last for 100 years so any short term stoppage or fall in price is expected.

It is Red Rock that has the problems and not Jupiter Mines Limited. Hopefully they will pay a dividend to RRR. If not RRR have a particular difficulty whilst Jupiter would be stuffed with cash from the Tshipi dividend.

Hopefully we will hear the outcome of a deal between Red Rock and Jupiter in the short term. Andrew Bell being a non-executive director of Jupiter Mines.

Anyway, we shall see guys. Don't forget to wear a mask when you go out as all the publicity on not wearing a mask and the coronavirus dying in a matter of hours is rubbish, up to two weeks in some situations - good luck...
If a person sneezes the virus will travel 4 metres not 2 metres. With a following wind it will drift much further. The Chinese and South Koreans no that. The reason they are spraying the streets.

[replicas1967] 02/4/2020 06:57

Well put - the risk is real !!

[new_scally] 02/4/2020 04:15

The prospects for JMS are poor in the medium term, shutdown for three weeks and possibly a lot longer.SA has no kind of health system to deal with COVID if it gets out and about. Manganese ore stocks are at record levels at Chinese ports reported close to 7 million tons and the price could collapse if all the SA mines come back on line. JMS shares could go sub 15c IMO over the next few months with little or no dividend after this one for a while.

The crown jewels for rrr could turn to brass

[noirua] 02/4/2020 01:20

RRRs total losses are probably lodged at £42 up to £44 million in past years though much would be retrieved on a mining license for Mid Migori, Kenya. Meanwhile these losses could have a potential value against future profits of up to £9 million against future profits for a predator.

No doubt all the negativity on the financial side is totally correct even though a bit less negative than how I see it. However, the gold value sits waiting to land for when Kenya's mining Minister grants a mining license.

So the value in the losses is so obvious. Kenyan's are probably adding to their shares held knowing a mining license is about to land.

Good luck and good fortune to all.