Red Rock Resources Share Discussion Threads

[kemche] 12/3/2021 11:53

I continue to average down all the way to the next inevitable fundraising.

Roughly 3 a year is the average.

[donaferentes] 12/3/2021 11:44

Chartwise, we are just barely holding on to our 0.90p floor, still well in the Feb down channel. Some solid news as ever would be v welcome.

[kemche] 11/3/2021 09:13

Another fundrasising?

[noirua] 11/3/2021 09:08

The price of gold is a critical factor for Red Rock Resources and the Jupiter debacle is unfortunate even though a reasonable dividend will arrive in a few month's time.

Hopefully, the gold downtrend has reversed and left an opening to float the Aussie assets on the TSXv later on this year.

Kenya looks like a well-established exercise in increasing the quality of the gold resource and letting the illegal miners pick up some gold and keeping all happy and jolly, of sorts anyway.

The gold royalties from Soma's efforts to mine at El Limon are a matter of speculation and jollification. Anyway, there should be some golden specs arriving upon the desk of AB.

[kemche] 10/3/2021 10:02

Another fundrasising?

[noirua] 10/3/2021 09:34

It does look as if this pulling of the market quotation for Juno is a matter of lack of competence by Jupiter Mines Limited. They really should have known the position earlier.

[noirua] 10/3/2021 09:26

JUNO MINERALS DEMERGER & IPO BLOCKED BY STICHTING PENSIOENFONDS ABP
8 March 2021


Jupiter Mines advised that the demerger and IPO of Juno has been halted. Stichting Pensioenfonds ABP (ABP), a Company shareholder, have confirmed that they do not intend to meet the regulatory requirements of the Foreign Investment Review Board (FIRB), which is a condition of the in-specie distribution and capital reduction. The Boards of Company and Juno are assessing its future options and will update the markets in due course.

[new_scally] 08/3/2021 04:31

Juno float has been pulled due to major SH not agreeing. Poor effort so close to the opening day and a possible cash boost from JNO share sales maybe gone for good.

[kemche] 03/3/2021 17:04

Moved up shareholding to 28.786% - based purely on successful delivery of previous projects and shareholder enrichment by Bell.

It's all about Amulet now.

[donaferentes] 03/3/2021 16:24

Well, that's certainly worth the 0.025p uplift in the share price today! Thanks, algernon.

[algernon2] 03/3/2021 15:15

Red Rock Resources advancing towards a Canadian IPO with its Power Metal Resources joint venture

[noirua] 02/3/2021 11:55

Edged my holding up a bit to 13.4% of what it was at the peak. Some negativity despite the announcement may be based on the present gold price. Gold will turn when the gold bears are in the ascendancy and the bulls are back in the paddock - some are right now.

[donaferentes] 02/3/2021 08:41

Picked up a few more waiting for more news to take this up to 2p.

[neo26] 01/3/2021 23:22

So where is chinese to fund the kenyan asset

[noirua] 01/3/2021 17:13

A surprising outcome this Kansai deal completion as I for one had doubts about the shares being taken up especially at 1.05p with respect to the weakness in the gold price of late.
This certainly adds confidence as Kansai are on the ground in DRC and will have a full understanding
So well done AB as this is an unexpected outcome and needed a bit of getting the deal over the line.
Taking the deal price at $2.7 million for 25% gives a 100% valuation at just under $11 million. My own previous working was for a fairer value at $15 to $18 million.

A cash-raising is probably put off now with a dividend due later from Jupiter Mines and receiving shares from the iron ore float. The latter should come to market on the ASX at a premium and then be sold maybe - 1 share issued for every 16.2 Jupiter shares held.

Red Rock still needs to use cash to convert their Power Metal warrants that need converting no later than May 2021. All in all, not a bad show!

My own latest valuation for RRR was 1.05p to 2.5p. Now at 1.3p to 2.5p.

[kemche] 01/3/2021 17:06

Another fundraising soon then.

[donaferentes] 01/3/2021 16:58

RNS


Seems to be positive for support of the share price at a floor of 1.05p.

[noirua] 01/3/2021 10:00

Rumble Resources Limited ASX:RTR:


Rumble has a market cap of A$53 million £29 million. In competition ballot with Red Rock on Australian Licences per today's RNS.

[kemche] 24/2/2021 06:59

A Ghanaian mine is similar to a Kenyan one.
Noirua returns to doing what he does best.
Elephant oil is the same as BP.

[noirua] 24/2/2021 00:29

This Mine is similar to that at Red Rock's Mikei:

Viking Ashanti (ASX: VKA) has extended the gold mineralisation by a further 700 metres along strike at the Akoase East deposit in southern Ghana in a recently completed drilling program.

Viking Ashanti are ahead of Red Rock so it does show the path to be followed.

[kemche] 23/2/2021 13:41

These are excellent grades.

Sheesh!

[noirua] 23/2/2021 13:38

Red Rock Chairman Andrew Bell comments: "We are delighted to announce an updated Mineral Resource at Mikei, with a higher gold grade. These conceptual pit shells used to test for reasonable prospects of extraction will now act as a springboard for our future exploration which will be focused on Resource enhancement.

-- Gold grade of the MRE for the same reason increased by 18% to 1.49 g/t
15.13 Mt @ 1.49 g/t Au with a contained metal content of 723 Koz Au. We now have the opportunity to build on this solid base and it is our belief that the potential for expansion at and around Mikei is strong".

The assumption is that the Mikei prospects will be extracted by open-pit mining. The MGP block models were assessed for RPEEE by applying conceptual benchmarked costs to calculate reporting pit shells. The following conceptual parameters were applied for open pit mining:
-- Mining cost: US$3/tonne
-- Processing cost: US$22/tonne ore
-- Pit slope angle: 52deg
-- Recovery: 90%
-- Royalty: 7%
-- Gold price: US$ 1,800/troy ounce.

[noirua] 20/2/2021 12:49

The new copper chart in the header does show that Red Rock Resources has a very good chance of doing well with its assets in DRC despite matters moving at a snail's pace. Whatever the value at purchase, who knows? It is now two or three times that. Also, a who knows, what has happened searching all those sheds at Musonoi - investors hoped for shed loads, cash that is from searching. Maybe a big surprise is due after the rightly put forward excuse that covid is to blame - anyway BUCK UP Red Rock Resources PLC this is not up to par. Looks as if the ball landed in the rough and they've been out searching for it for months or maybe years.

The falling gold price and the downturn in stocks do show this is going to be difficult concerning the flotation of Australian gold prospective assets in Canada in the short term.

Kenya is a bit different as drilling is hoping to extend the resource. This may lead to a lower amount of gold JORC resource but at a much higher percentage of gold per tonne thus reducing the cost base per ounce retrieved - as stated by AB.
The tailings stockpile may be better sold in lorry loads unless the whole of the Migori asset is sold to another party for cash and royalties.
The sale of the asset might be more difficult until and if the gold price starts heading back upwards. Maybe later on when speculation in Bitcoin and going for silver over gold lightly dissipates.

The value of Kenya assets based on what Red Rock is due to pay for 25% is around US$12 million £8.6 million. Based on 1.3m ounces at 1.3% Au probably nearer US$15 - US$18 million. It is expected the resource might be nearer 1 million ounces at 1.8% increasing the value after further drilling. A bit of guessology involved here.

The El Limon royalties situation is an unknown factor as the latest news from SOMA did not include any gold results from El Limon. US$2.95 million is due overtime and should arrive as SOMA appears to be advancing production, I think hmmm.

Marketable shares available ( excludes those held against loans ) are worth at a bid price of roughly £2.3 to £2.5 million.

Mount Ida royalties is a big one, hopefully, for Red Rock. The price of iron ore is sky high though the resource requires beneficiation to 62%/65% FE. Despite this US$8 million would be due to Red Rock and on that valuation the rest worth around US$13.3 million - a good eventual haul for RRR - at an exchange rate of US$1.40 to £1 = £15.21 million.

[noirua] 19/2/2021 13:27

Red Rock should come out of the present Juno float quite well. They will receive roughly 1 share in Juno for every 16 shares in Jupiter. That would be about 590,000 Juno (This may be higher as some shares in Jupiter are held against loans). The value at float again roughly A$200,000 and pre-market indicates in this bullish iron ore sector of late at around A$280,000.
The dividend from Jupiter is guesswork but should bring in around A$300,000 to A$500,000.
The Aussie Dollar is strong against the £ and even stronger against the greenback. The latter though is proving negative as far as gold producers are concerned.

[noirua] 19/2/2021 10:22

Jupiter Mines Limited - 9,524,914 shares 0.49% as at 30 June 2020 - valued at 35.5c a share = AUD$3,380,000 - ( some uncertainty as RRR information differs ) Page 80.

Kenya October 2020: Mining Maven October 2020: