Red Rock Resources Share Discussion Threads

[the_debt_collector] 06/9/2021 08:52

Interesting, elaborate please.

[mininglamp] 06/9/2021 07:55

Looks like Red Rock have been approached by another listed vehicle concerning a possible
corporate action in Kenya, confirmed in 3 very recent (and separate) interviews from the CEO, CFO
and the Technical Director of the said company.

Mr Bell did suggest corporate deals were coming.

More to follow.

[noirua] 03/9/2021 21:13

The header is presently being revamped. Some information is contained on the POW thread meanwhile.

[graylyn1] 03/9/2021 21:03

or maybe trying to talk the price down. With low trading volume and shares tightly held it does not take much to scare out the smaller investor using bulletin boards.

[the_debt_collector] 03/9/2021 19:47

Total liabilities had dropped to £3.1m in December 2020 and have reduced further since due to certain liabilities being converted into equity.

You seem worried Noirua and bitter one would suggest, maybe you are economically bankrupt due to investing at the wrong time, oh dear !

[noirua] 03/9/2021 19:37

Red Rock Resources' total liabilities including short and long term stood at £4,424,000 on 30 June 2020.

[the_debt_collector] 03/9/2021 19:34

The IPO of Elephant Oil will happen at some point, the exact valuation is speculative but they
aim to raise $15m in the US, would give a market value of circa $40m based on the existing 23m
issued capital, another AIM company believes their 150,000 shares may have material value.

I suspect you have no idea who the major shareholders are in this company, the fact that RRR
impaired their stake by 50% 12 months ago is irrelevant, you probably have not noticed the steep
rise in the oil price since that impairment date.

The circa £1m value First Equity places on RRR's stake is worthy therefore.

Never fear Mr Debt will correct the inaccurate drivel posted by the trolls.

[noirua] 03/9/2021 19:29

Dividend income £419,000 in 2020 and £750,000 in 2019. Jupiter Mines is going through changes in the board of directors that are not fully worked out. If a new board of directors comes about the policy of paying high dividends may cease. This should be taken into account though these dividends have been reduced due to the falling price of manganese and the covid situation as well.

[noirua] 03/9/2021 19:22

Following discussions with the management team of Elephant Oil Ltd and internal analysis conducted on the company’s projects and prospects for onshore oil exploration activities in Benin, Red Rock has decided to impair its investment in Elephant Oil by 50%, to £0.137 million.

It should be noted that I am a shareholder in Red Rock. However, I am prepared these days to see the negative side more after nearly 5 years of experience and investing successfully in RRR. At the same time respecting others who lost in the last 10 years. I believe the share price equivalent from the peak after many placings is around £4.00 ( others may be able to correct that figure ) - time to understand the high risks in this sector.

[the_debt_collector] 03/9/2021 18:39

The loan of $1m IS shown in the First Equity note as £650,000 debt, more poor research from the usual suspect, step in Kemche !

The 1.6p target price for RRR is based on current market prices of Power Metals and Jupiter Mines and current commodity prices.

Thankfully Mr Debt is around to put right the wrongs from the usual suspects.

[noirua] 03/9/2021 17:54

Warning! The research by 'First Equity' does not include loans where shares in Jupiter Mines and Power Metal are held by others either by escrow or being transferred. It also fails to mention loan repayments and interest that started to be paid back in June 2021.

20 million Power Metal shares are held against loans. Some Jupiter Mines shares are also transferred against loans and the exact number sold in the year to 30 June 2021 has not been announced.
Power Metal shares stand at 1.95p and Jupiter Mines at A$0.255.

There is also no mention of Musonoi, DRC specifically at area 1 where work has been carried out to assess a resource from previous drillings.

One asset is missing which is royalties in iron ore future production at Mount Ida, WA.

No mention as to whether all reparation costs have now been met for the Greenland iron ore assets sold for £1.
-------

Red Rock Resources PLC should in my opinion state how many shares they own that are not held against loans. The figure given for Jupiter Mines shares held by Red Rock by First Equity surprises me and I'm only very rarely surprised these days.

-------

As they say - DO YOUR OWN RESEARCH.

[the_debt_collector] 03/9/2021 15:41

More Tweets from Red Rock today about Kenya gold drilling activity, one wonders if this is a hint of material news to come ?

This project alone could be a company changer.

[graylyn1] 03/9/2021 11:55

A re-rate may be on the cards very soon.😃
Edit: just Kenya on its own could be a huge catalyst

[aussiebeach] 03/9/2021 11:52

Broker target 1.6p which they suggest is conservative & based on current market pricing of both equity valuations and commodity prices.

They suggest there is significant room for upside on drilling successes in Kenya and Congo.

[noirua] 03/9/2021 00:14

Red Rock has a 4.64% holding in Elephant Oil referred to by AB as a small interest. It will float with the oil price hitting $70.00 for a while late Thursday evening in Canada.
There are no clues at present as to the IPO price or the market cap. RRR reduced its book value by half though I expect they will see a valuation substantially more than that. It is possible there will be an escrow though I'm uncertain about that.
----
Elephant Oil (USA) Corporation founded in Texas in 2021 (to be IPO'd on the NASDAQ) has an onshore block not offshore in Bénin. The discovery by Eni is offshore. Elephant Oil's block ends close to shore so may have some offshore accumulation that could be exciting. Time will tell!

Matt Lofgran is CEO of Elephant Oil -
Company website:

Bénin is a former French colony and AB is fluent in French,

A substantial sum will be needed when the IPO takes place.

UOG United Oil and Gas has a 20% option production sharing agreement taken out in 2019.

[kemche] 02/9/2021 20:14

"liquidity events are coming soon at Red Rock"

Aren't they always? Roughly every few months for the last decade.

It's "admin" don't you know.

[graylyn1] 02/9/2021 20:03

this could be interesting for Elephant oil

[the_debt_collector] 02/9/2021 16:00

ML

Your research is appreciated but it is fruitless as long as the Hinge and Bracket pair of Noirua and
Kemche (who has posted 1,400 times despite claiming to have never ever bought a share) persist in
trolling the thread, their aim is destroy sensible debate + wipe out any meaningful research with useless spam and repeat posts.

I have been advised that it was not long ago a former Red Rock employee who had a falling out
with the company was bashing away on LSE before his account was terminated, it is most likely
the fellow could be one or both of the aforementioned.

Kemche was hideously exposed as a quite useless troll at Corcel, happily bashing away sub 1p for
ever and an age, a few months after Mr Debt arrived the share propelled to 2.5p

Ignore the trolls and do sensible research, liquidity events are coming soon at Red Rock and
Power Metals, when they do the share price here will propel multiples.

Why do you think 4 or 5 entities have acquired 25% of Red Rock and are happy to hold !

[noirua] 02/9/2021 14:50

Soma Gold Achieves Record Production in Month of August
2 September 2021

[noirua] 02/9/2021 14:43

Looking at the video at #11341 it is not impressive. At 1p I will steer clear of GCAP. If the gold price stays where it is the shares may well fall back to 0.8p. Looks vulnerable that mining operation.

As far as Mikei is concerned AB said a few years back that the resource is low grade and RRR would seek to sell. Since then efforts are being made to increase the resource so his thoughts may have altered as well.

[noirua] 02/9/2021 13:40

At 0.55p - 0.60p Red Rock shares could be the right price or overvalued or undervalued. That's the gamble you take here. In recent times the shares have paraded from 0.18p up to 1.2p so 0.575p stands roughly in the middle of the great parade.

If you bought it at 1.2p you are a very unhappy bunny. If you bought it at 0.18p you are a bunny full of happiness.

[mininglamp] 02/9/2021 12:47

Very interesting for Red Rock shareholders, explains the activity in Kenya from on site - described as the next 'hot spot' for gold exploration,

The commentary is initially in German but moves to English, once again Red Rock are mentioned.

[kemche] 02/9/2021 12:38

I, on the other hand, continue to see Red Rock as materially overvalued.

[noirua] 02/9/2021 12:36

Caracal Gold in Kenya: Kilimapesa has a current Mineral Resource of 8,715,291 tonnes at 2.40 g/t gold for 671,446oz at a cut-off of 1 g/t. This resource is JORC Compliant and comprises the Kilimapesa Hill and the Red Ray deposits, both of which are located close to the Kilimapesa Gold Processing Plant.


Red Rock's website is out of date and the JORC resource stated is wrong.
February 2021: The total mineral resource is estimated at 15.13mln tonnes at 1.49 gram per tonne of gold, with a contained metal content of 723,000 ounces of gold.

The reported ounces of gold were reduced by 39% but the gold grade increased by 18%.

[mininglamp] 02/9/2021 12:20

My understanding is Caracal Gold have only recently acquired the Kilimapesa Gold Mine and
licences, their aim is to recommence production in stages to a initial 500 oz a month to
1000 and then 1500 oz per month and then grow it significantly from there.

Their medium term aim is more interesting as it suggests they are looking to acquire licences to
eventually build production to higher levels.

Their CFO mentioned Red Rock in the recent interview as a nearby AIM company,
given the mine is close to Red Rock ground it would surely suggest some form of deal can be struck.

In essence Caracal is a explorer with a mine that needs investment, they have £5m now to enhance
the mine and their aspirations are dynamic.

It is interesting that Red Rock and its broker (via the recent note) have not mentioned Caracal, makes you
wonder why, maybe a deal is coming ?

I continue to see Red Rock as materially undervalued.