Red Rock Resources Share Discussion Threads

[noirua] 24/5/2021 11:53

Red Rock had a fund raising fairly recently to raise £1 million and will receive a dividend from Jupiter this month.
Ongoing expenditure is principally in Kenya and Australia which the cash raising is to cover. Providing the IPO of Red Rock Australasia goes ahead then Power Metal and Red Rock should receive sums covering expenditure. Cash raising for RRAL will be part of the IPO. A deal of some kind is expected to be made concerning the Kenya Migori assets.

[kemche] 24/5/2021 11:01

I find broken_arrow a useful tool.
Whoosh.
Let's just have the fundraising for gawd's sake.

[graylyn1] 24/5/2021 10:21

Onwards and upwards, real value here now.

[broken_arrow1] 24/5/2021 09:32

Market size has dropped significantly in favour of the bulls, could buy 5m at offer early last week, now down to 1m.

I find this a useful tool to gauge sentiment.

[the_debt_collector] 24/5/2021 09:17

Look what happened to one of the largest 'dog' stocks on AIM Wishbone Gold, their BB was toxic, Poulden the CEO was despised yet the shares went from 1p to 18p in short time.

The bashers there VANISHED !!!

[onlyroadtoheaven] 24/5/2021 09:11

Is that you Andrew?? ;)

[christopher logsdon] 24/5/2021 08:49

That sounds good made a 5K purchase this morning

[the_debt_collector] 24/5/2021 08:38

Bashers are either failed investors or market entities (e.g. market makers) trying to keep a cap on the price to protect their book.

They have no interest in others, when a stock rises they vanish and come back when the heat has died down and start the process again.

Unfortunately inexperienced investors fall for their game and often miss large % rises.

Ignore them !

[m1sterx] 24/5/2021 08:32

Tipped

Behind a paywall but u can get the jist.



Red Rock Resources – Elephant Oil and Juno Minerals investee updates, remains a Strong Buy

BY HOTSTOCKROCKETS

Red Rock Resources (RRR) has now this month updated on investee companies Elephant Oil and Juno Minerals – which now look to offer some material further upside potential.

[onlyroadtoheaven] 24/5/2021 08:28

As you well know Bell is involved therefore it will never fly. Way too much history with this one and now everyone knows the score. A lifestyle company that will never benefit investors.
Every time people come on here pumping the share a fundraising usually follows. As I said, everyone knows the score now.

[the_debt_collector] 24/5/2021 08:21

Interest in RRR is building, a number of chartists say it is a buy and a plethora of news is expected, the same entities bashed Corcel around .85p and it moved to 2.3p recently.

2p - 3p is a sensible target for RRR based on their portfolio.

[observer007] 24/5/2021 08:12

Like most long standing resource juniors folk who bought the top of the last sector bull market have lost serious cash and blame management

I have seen the negative bashing posters all over ADVFN in this sector, I would refer to Stratex (now Oriole) their BB was toxic but anyone who bought the low of 0.30p could have 6 bagged their cash fairly recently.

I see Red Rock as a similar comparison situation, no doubt as soon as I put this post up a basher will come along and trash it for one reason or another but entry point TIMING is key to investing in this sector.

Fact is sum of the parts of Red Rock is worth considerably more than the current market valuation and eventually the market will catch on.

Buy the lows and sell the highs.

[kemche] 23/5/2021 13:53

It is of as much value as Greenland, Steelmin, Amulet, Shyte Creek, Sweet factory etc.

[noirua] 23/5/2021 13:45

It is true that the value to Red Rock of the Kenyan gold resource has only risen to a prospective $12 to $19 million having completed the purchase of the outstanding 25%, person working as to value. Further drilling may or may not increase the JORC resource and the grammes per tonne above 1.45g/t.
[ see details below]

Noirua - 10 Oct 2019 - 15:12:47 - 8739 of 11000 RED ROCK RESOURCES PLC - Information Thread - RRR


15 June 2018
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 reissue 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.

[ Looking at the above and due consideration of the improved outlook for gold. The value of 75% of Mid Migori to Red Rock, if and when the minister rubber stamps the renewal of the mining license, is GBP7.3 million (US$9 million) ( 1.1p a share ) up to GBP12 million ($15 million)( 1.75p a share ). These figures would only be in the case of a bid for Mid-Migori or buy in.

Values Mid-Migori at US$10.00 per ounce to US$13.30 per ounce, gold in the ground - excluding tailings.]

[ Red Rock Resources RRR now own 100% of the Kenyan assets and payments have now been completed. A mining license is now in place with a 3 year exploration license. Above are my own workings not RRR.]

[kemche] 21/5/2021 17:59

The Kenyan "asset" may actually be a liability.

[noirua] 21/5/2021 17:51

The Kenyan asset is not a very high grade JORC resource and drilling taking place now is basically to extend and upgrade it still further.

[kemche] 21/5/2021 17:50

Ignore the cheerleaders as they have been cheerleading since 30p - through all the 24 fundraisings, all the accumulated losses and all the "admin" enjoyed by the BOD.

[noirua] 21/5/2021 17:36

ObserverOO7 et al, unfortunately the RRR website is out of date ie has not been updated to the 22 February RNS:


The total Mineral Resource, for both Inferred and Indicated categories at a 0.5 g/t Au cut-off, is estimated at:

15.13 Mt @ 1.49 g/t Au with contained metal content of 723,000 oz Au.

Key Points

· MRE covered the five prospect areas covered by the 2012 MRE

· Application of RPEEE principles required by JORC (2012) led to the exclusion of some previously estimated Mineral Resource areas and a consequent 39% reduction in reported ounces of gold

· Gold grade of the MRE for the same reason increased by 18% to 1.49 g/t

· Some material previously stated as Indicated in the oxidised zone has been downgraded to Inferred, reflecting uncertainties relating to the terrain model and the extent of artisanal activity since 2012

· Detailed recommendations for a first stage step-out drilling programme made to potentially increase the size of the MRE

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.

[the_debt_collector] 21/5/2021 14:42

Ignore the trolls, they were bashing RRR at .60p and the shares raced to 1.35p, did they apologise, no chance.

Can see 2p and even 3p coming soon enough, just wait for the news to start, it's coming !!

[the_debt_collector] 21/5/2021 14:40

Paul Johnson tweet .....



@pauljohnson9691
·
17m

#POW

@PowerMetRes

JV in Victoria Goldfields with #RRR

@RRR_RedRock has one of the larger strategic footprints in the area (2,336 sqkm) - license portfolio built in 2020 and being explored right now in the field across granted licenses (848 sqkm). Targeting major gold discoveries.

[kemche] 21/5/2021 14:13

They could IPO ALL their prospect so that we could easily get a sum of the parts of about 83p per share!

GLALTH'ers.

And the "new" shareholders too.

:)

[observer007] 21/5/2021 14:10

The CEO has just been to Africa and has hinted about another IPO, could they be looking to float the Kenyan project, according to the website it contains £1.2m ounces of gold.

Surely a 1.2m gold project would be valued north of £10m, then there are the liquid assets which the CEO believes are worth £10m+

In all a bundle of projects/assets worth, at least, double the current market value of the entire company.

The rise in volume is not without grounds, shares look cheap.

[the_debt_collector] 21/5/2021 11:40

More positive comments on Twitter...target 2p

[graylyn1] 21/5/2021 10:57

A lot of hidden value here.

[the_debt_collector] 21/5/2021 10:50

Chartist (who has made a number of correct calls recently) thinks RRR is poised for a strong move.