Red Rock Resources Share Discussion Threads

[noirua] 18/8/2020 10:28

Keya5000, GPSS looks favorable still but 46.14p is payable on 30 November for those still holding. If the NAV of GPM dips, as it did for awhile last week, there could be some unhappy people around. Also, Evil Knieval holds a lot of GPM and GPSS, one poster says he has about 2 million GPM. Evil is in trouble as he shorted TESLA that has rocketed in price - EK seemed to have not researched that TESLA is expanding sales to Electricity companies like EDF and expanding sales of solar panels.

[kemche] 18/8/2020 10:25

Can see multiples of the price here. Astute operators. Canny board.

[value hound] 18/8/2020 10:20

I sold this morning, having sat there for a few years since Peter G's involvement first piqued my interest. Given my recent experience, this is the cue for the share price to go stratospheric.

[kemche] 18/8/2020 10:19

As Ettie states quite honestly the rise is just beginning. GLA LTH'ers.

It's all about DRC.

Only £6.3m mkt cap and fully funded.

I have now sold 453% of my holding - but holding onto the rest.

[the bull] 18/8/2020 10:17

tried again and now cannot sell. I probably should have but got greedy and thought, lets ride this

[keya5000] 18/8/2020 10:10

GPSS was lovely Noirua, missed this one though, had it on watch but expected a raide earlier. Well played.

[noirua] 18/8/2020 10:08

I've now sold 92% of my shares in Red Rock with the last sales close to the highest bid price today. Makes up a bit for earlier sales far too low. Bought a lot of silver stocks in Australia on Friday so a bit uncomfortably short of cash. Holding reduced from 7,200,000 to 576,000.
Run up by RRR was truly amazing but cash raising is on the horizon and AB must be doing some maneuvering behind the scenes. Even beat my holding in GPSS that is geared 3:1 approx.

TheBull, 0.9p was an excellent price. Hopefully left some for the next guy. Average sale today was 0.88p approx.

[the bull] 18/8/2020 09:52

through HL hovered on sell button, 2M at 0.9

but didn't

[the bull] 18/8/2020 09:38

Almost back at break even on my 2M holding, considering selling unless a good case to hold. Maybe should watch the TW interview again.

[noirua] 17/8/2020 23:58

Manganeses ore price by Jupiter:

[atinos auntie ettie] 17/8/2020 20:25

A four-fold increase in four and a bit months is welcome but merely the start - there is plenty to come. In a time of rising prices one should hold to compound one's gains.

[noirua] 17/8/2020 12:48

As no activities have been able to take place on these license areas in Kenya for several years, it is some time since the Company has made announcements in relation to them.

The Company will now be reviewing how it proposes to proceed and in the meantime, for the assistance of investors, a summary of key relevant historic exploration announcements with links is set out at Appendix A below.

All with all historic regulatory news announcements by the Company, these may also be accessed through the London Stock Exchange website or through the home page of the Company website at www.rrrplc.com

[ This part of the RNS is not misleading it is just safely guarded wording: The mining license has not been awarded for Migori, Kenya and Red Rock are still waiting. The area is still being near surface mined illegally by locals - better they get cash from some where I suppose ]

[sclper] 17/8/2020 12:22

So this agreement from RNS of 15 June 2018 kicks in now. I wonder how the $2.5m will be raised:
"Red Rock also announces, further to its announcement of 26 June 2015, that a revision to its agreement with Kansai Mining Corporation ("Kansai") of 20 June 2015 ("2015 Agreement") was executed on 11 June 2018 ("2018 Agreement"). The effect of the revision is that Kansai exchanges its 25% carried interest in the mineral assets of Mid Migori Mining ("MMM" and "Assets") under the 2015 Agreement for a $50,000 payment, leaving Red Rock with a 100% interest. In the event of a renewal or reissue of licenses covering the Assets the Company will within three months make further payments, subject to such renewal or resissue not being on unduly onerous terms, as follows: (1) $2.5m payable in cash, (2) a $1m promissory note payable 15 months after issue, and (3) £500,000 of warrants into Red Rock shares at a price 20% above their average closing price on the three trading days prior to issue."

[davenotion] 17/8/2020 11:45

It's certainly been an interesting 10 years with this one. One thing for sure is not much has changed and you are right, fund raising overdue. !

[noirua] 17/8/2020 10:58

Sold some more shares this morning in three lots to reduce my holding by 56% - not the 1m sales however. Fear a placing at around 0.5p - 0.55p.
Holding now reduced by 59%.

Well done davenotion - good luck. I was down myself by 67% when RRR shares were at 0.175p and was holding just over 1% of shares in issue at one stage - a mighty paper loss at the time.

[davenotion] 17/8/2020 10:06

I'm finally out of this Share at just over 0.6.Still a hefty loss but I can't hold any more.

[noirua] 17/8/2020 09:50

Not sure about all this news in one RNS this morning. Needs to come clean about cash raising to be done as well as any that has not been announced. The share price is over the 0.6p conversion price for the approx £1 million CLN possible conversion by 19 December next - Red Rock receive zero cash on any conversion whilst paying 12% interest to the holders.
I'm feeling more comfortable after nearly halving my holding of late but some worry about any cash raising terms.
Red Rock need to raise by borrowing, placings or sale of Jupiter shares around £1 million or more this year or £2 million by December this year if CLN holders demand cash. More Jupiter shares could be put in hock to gain a further loan.
Jupiter profits will drop as manganese prices have fallen. Disappointing that as steel demand was firm in China - maybe it has dropped off? Hopefully Jupiter can sell their iron ore interests though they might be better flogging the interest to a major rather than floating shares.

[noirua] 15/8/2020 00:31

Work needed to be done by Red Rock and Partner POW is similar to that in this article presented by Castlemain Goldfield Limited a subsidiary of Lion Gold Corporation:


Tour of the Ballarat Mine:

Note RRR and POW's wholly owned subsidiary will first have to wait for an exploration license. This will only be granted after meetings with the locals and finalisation on work covering Flora and Fauna. After this mapping of an area followed by rock sampling. Then very much later air-core drilling, followed on obtaining results by a diamond drilling program and a JORC resource. A banking feasibility study needs to be done.
Watching certain TV programs it can take sometime to get an exploration license and even longer for a mining license.
Red Rock's tenements are interesting of course though a lot of fund raising needs to be done and far more for a mine.

The performance of Red Rock's shares has been sparkling since plunging to 0.18p in the depths of despair. It is a bit of a gamble from here hoping all the pegs fit in all the holes - past performance lays very many doubts as the dice are rolled. Or maybe just a die in very many places.


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The gold resource in Kenya has a JORC resource and despite locals being all over it needs only funding on infrastructure and expensive mining equipment. Still waiting for a mining license.

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Red Rock's cash position is very tight indeed. Chairman Andrew Bell may be flush with cash but his company certainly isn't.

[clunes100] 14/8/2020 20:36

Each time a licence comes in that will count as an asset and given the gold price and gold rush in Victoria, there will be plenty to throw cash at any sniff of a decent return, I am even up to go and help them dig!!

[noirua] 14/8/2020 13:16

I've sold some more shares in Red Rock. Holding was down by 28% and now reduced by 35%. Just playing safe and moving more money into silver stocks. Not now holding any shares in POW that look over priced considering cash held, likely income, and the nearology scrub-land in Victoria, Australia that will eat cash. Holding in RRR later reduced by 45%.

[clunes100] 14/8/2020 09:47

More complicated than I thought and impossible to work out, whilst figures are given that one might conclude RRR would receive say US100,000 based on 2019 throughput, the question is what proportion actually comes from the El Limon licence and what are the contractual obligations to pay RRR.

I think Andre needs to come clean and clarify, anyone willing to ask the question and pursue an answer?

[noirua] 13/8/2020 18:17

The answer about gold production at El Limon is probably in this link somewhere. Taken over by new management and name changed - though I expect everyone new that already:

The company’s expectation is to increase both feed quantity and grade through development at the El Limon Mine and 3rd party miners reaching 112 tpd average of 6 g/t by the first semester of 2021.

Semester system as applying to Canada.


If you can work out when royalties will be paid from this then go to the top of the class.

[clunes100] 13/8/2020 17:23

I am still waiting to see an RNS on the El Limon royalty, one assumes they are producing gold and the price of gold is high - where is the royalty?