Red Rock Resources Share Discussion Threads

[donaferentes] 07/4/2021 10:26

Anyone know why you can't get a deal to buy or sell on line? Prefer not to call my broker (expensive) when the MMs would have to honour their EMS level2 quote.

[greenpastures2] 06/4/2021 16:18

Some people have to learn the hard way Onlyroadtoheaven. They can't they weren't warned.

[onlyroadtoheaven] 06/4/2021 15:55

"Watch and learn how to make money."
True! I have watched and seen how Bell has made money from mugs over the years.
I dont think anyone but the board could make money from RRR.

[kemche] 06/4/2021 14:54

All the shrewdies got in years ago.

[greekhovel] 06/4/2021 13:45

Not one to be out of currently, the shrewd are already in, are YOU one of them ?

Watch and learn how to make money.

[onlyroadtoheaven] 06/4/2021 09:33

"It is a pointless and stupid attitude to continually refer back to what happened many years ago,"

............... Rubbish! When history is repeated so many times without lessons learnt then it points to the future direction.

The person responsible for the appalling history is still there, therefore there will never be any trust from investors.

[flughafen17] 05/4/2021 12:37

Admin costs seems to have been brought under control over recent times, I suspect the major shareholders (some of whom removed Bell from RGM) are active at Red Rock. AIM listing costs run at £200k-£300k for every company.

It is a pointless and stupid attitude to continually refer back to what happened many years ago, people invest based on current prospects and events, 3 IPO's coming at RRR should deliver meaningful value beyond the current m/cap alone & the JV with POW on those highly prospective Australian gold licences will add some zip to events + a new management suite will improve corporate governance.

Notwithstanding the bear case the same points were being made about various other AIM resource 'basket cases' two of the worst were GGP and EUA, perennial 'dogs' for many years but look what happened to them !

[torp] 05/4/2021 10:30

Company is uninvestable imho

Same unscrupulous ramper Noirua has been plugging this POS for years with the same
drivel. Fall for it and frankly you deserve to lose your money.

RRR conducted loans and transactions with Amulet Diamonds and did not RNS it

RRR loaned £1.1m to the failing Steelmin venture and did not RNS it

Steelmin went into administration and RRR did not RNS it

Investors are investing blind as a result and there simply can be no trust here.

The other major factor making this uninvestable is the preposterous £millions
being expended on Admin and Expenses which remove all shareholder value.

Admin Costs Each Year

2012 - £2,275,786
2013 - £4,751,948
2014 - £1,563,808
2015 - £1,334,404
2016 - £758,351
2017 - £644,688
2018 - £849,518
2019 - £591,777
2020 - £597,000

These are astonishing and preposterous sums for such a pathetic AIM tiddler and
are the biggest warning sign that this is purely a lifestyle company imho.

Bell operated the same Modus Operandi at Regency Mines, endless dilution,
high Admin costs, lots of expenses etc. It had to have a second share consolidation
and was renamed to Corcel by way of trying to reinvent itself.


Nothing will ever change at RRR because of the way the BOD operate it as a
lifestyle vehicle. Huge chunks of cash will just keep seeping away in the form
of ridiculous Admin and expenses costs. More and more shares will just continue
to be issued to raise more and more cash.

Just not worth it. So many better shares out there to go at

DYOR

[noirua] 02/4/2021 14:47

El Limon drilling



North to South cross-section #3 showing the under-explored Alacran-Diamantina mineralized trend and vein interception of drill hole ADDDH_21_01.
Planned drill holes will be completed by the end of Q2.
Javier Cordova, Soma’s President, and CEO state, “the latest drill results corroborate the geological modeling and the thesis of continuity of the mineralized trend along with the Otu Valley fault system.
The geological modeling, supported by the sampling taken in the historical small miner workings, suggests that vein widths and grades continue over more than 2 km of the company’s property.
This section represents about 15% of the Company’s mineral rights in the Otu Valley.
The team is very encouraged by these results and looks forward to continued success as the drilling program continues to build out a picture of the resource.”

[goldenshread] 02/4/2021 14:19

THE BMV GOLD PROJECT

@RRR_RedRock encourages investors to view the NI 43-101 report for the BMV Gold Project, Victoria, Australia

The BMV project report covers 8 of the 13 licence application in the Victoria Goldfields

[kemche] 31/3/2021 13:21

As a rule any nasty surprises are not reported here until well after the event viz Steelmin and Amulet as well as others.

[donaferentes] 31/3/2021 13:04

Thanks, Noirua, much appreciated.

We're trading in a well defined range 0.95-1.05 waiting for news which we know should be positive when it comes. So have to wait and see. As long as there are no nasty surprises lurking, which I cannot detect (but then they wouldn't be surprises.

[kemche] 31/3/2021 10:37

dona, "not the message AB is giving out, is it?"

In his illustrious tenure at RRR Bellend has disseminated a number of messages and virtually all have turned out be at a distant from the actualité. Some at 180 degrees.

[noirua] 31/3/2021 10:24

Hi donaferentes et al, Andrew Bell is a non-executive director of Jupiter Mines and the company, Jupiter Mines, does say that directors and institutions are locked in to hold Juno shares for 12 months. However, RRR should receive a dividend of about A$280,000 to A$340,000 from its holding in Jupiter shares in June.

The Aussie flotation on the TSXv has a small question mark over it getting bigger as the gold price falls. At over $2,000 per ounce, the float looked excellent - at $1,680 much less so.

AS to the IPO of the Benin, West African interest. So far I'm unable to find mention of this. Maybe AB has spotted it and I've missed it.

Certainly, RRR has saleable interests that mean there are no money concerns short term.

RRR has to stump up cash in May to convert their 20 million warrants in POW - cost £200,000 . This looks to have been a very good interest taken as they convert at 1p and the shares stand at 2.35p. They could be immediately sold if needed - value £470,000 - leaving an excellent profit, if taken, of £270,000.

updated 31/3/2021 - 12:09.

[donaferentes] 31/3/2021 08:45

Are you saying there will be no immediate cash benefit to RRR from the flotations - not the message AB is giving out, is it?

[kemche] 30/3/2021 22:38

At the time of writing, our admin costs were running at twice the level of the equivalent prior period and we are aiming to double that at least for the full year.

Which is nice.

And once again we find ourselves in the unenviable position of having current liabilities 3 times the current assets.

And no Vaseline - as always.

[noirua] 30/3/2021 18:33

Juno shares will start trading on 13 May 2021. Jupiter shares trade ex-entitlement on 30 April 2021. RRR may not be allowed to sell their shares for 12 months.

[kemche] 30/3/2021 15:00

Non current assets will not become current in anyone's lifetime but the bills will have to be paid and the trough refilled.

[noirua] 30/3/2021 13:51

Current and non-current assets together increased by GBP2.299m
over the six months, while liabilities decreased by GBP0.53m
(and have seen a further GBP1.4m reduction by payments made
to Kansai Mining since December).

From the Half Year Report to 31 December 2020.

[kemche] 30/3/2021 13:23

At the time of writing, our admin costs were running at twice the level of the equivalent prior period and we are aiming to double that at least for the full year.

Which is nice.

And once again we find ourselves in the unenviable position of having current liabilities 3 times the current assets.

And no Vaseline - as always.

[noirua] 30/3/2021 13:23

In addition, we welcome the news that our 4.6% shareholding
in Elephant Oil Ltd may finally realise its potential with a
market listing, and if the hopes raised by the passive seismic
carried out two years ago over the c4,000 sq km held onshore
in Benin are to any degree fulfilled this may become a significant
asset for us.

From the Half Year Report to 31 December 2020.

With three IPOs to look forward to from our holdings, 2021 is
likely to be a strong year for the Company, with liquidity continuing
to increase in the second half of the year, and a medium-term
target of GBP20m for cash and liquid investments.

[noirua] 30/3/2021 13:19

At the time of writing, the value of our marketable securities
and cash is near GBP4m. It has been higher recently, and with
the receipt of anticipated dividends from Jupiter Mines Ltd,
an in specie share distribution and IPO of Juno Minerals Ltd,
and the dynamism of Power Metal Resources plc with its diverse
portfolio, we consider it reasonable to aim to bring that figure
to a level somewhat higher by our June year-end.

From the Half Year Report to 31 December 2020.

[kemche] 30/3/2021 12:53

It's still all about the "Admin" costs and the laughable current assets of £981k vs current liabilities of £3,114k.

Who can tell me what comes next?