Red Rock Resources Share Discussion Threads

[noirua] 22/9/2021 13:30

MiningMaven's report does not mention cash requirements and loans + interest payments.

MiningMaven was founded by experienced investors Malcolm Palle and Paul Johnson to demystify the world of mining and natural resource exploration. “We invest in the sector ourselves,” Johnson said, “and we recognised that the information available to investors is often highly technical, which can be off-putting”.

[noirua] 22/9/2021 12:45

MiningLamp et al, AB is one of the best performers in podcasts and even the most negative posters agree with that.
As always, we must wait and see if he can get the IPO away successfully against a weak gold sector and gold price.
In Kenya, it's whether the resource grade can be raised and the compressor replaced quickly.
Thirdly, how cash is being raised and what loan repayments are being met, and ongoing costs in Greenland.

[mininglamp] 22/9/2021 12:28

Red Rock Resources reinforces its compelling story with exciting Australia and Kenya updates

#RRR chairman Andrew Bell walks through the latest results and what they mean for the firm moving forward

[noirua] 22/9/2021 12:08

The trust factor in being able to finally complete a project is low at Red Rock. Investors in the past do not trust the company and feel various actions/ transactions may take place without them being notified immediately or very shortly afterward - Steelmin, Amulet, and loans against shareholdings in Power Metal and Jupiter Mines.

[the_debt_collector] 22/9/2021 11:44

What a load of twaddle double act Noirua and Kemche post daily, pure waffle.

At least Mining Lamp delivers sensible information, it is clear as crystal Caracal Gold are interested
in RRR's Kenyan licences, could be a JV or some other deal, would Bell sell them for some cash,
GCAT shares and retain a royalty position ?

If GCAT do as they suggest their M/Cap could easily propel multiple times, RRR could take their shares,
sit back and let them do the grafting to deliver upside for no cost.

Time will tell.

[noirua] 22/9/2021 10:57

The US$ is strengthening against GB£ that is likely to continue with the US saving money on withdrawing from Afghanistan and a move to diplomacy only. Mining companies that are profitable producers away from the UK gain: those needing to raise cash in the UK for exploration abroad lose in the main.

[kemche] 22/9/2021 10:39

And CO2 issues is causing havoc with the supplies of pies.

[noirua] 22/9/2021 10:31

Be fair #kemche! AB is now hard at work attempting to IPO RRAL now NBGC. It is an armchair job mainly and his expertise could mean an IPO on AIM sometime in 2022 or when the gold price and sector improve.
Kenya is held up waiting for a new compressor or refurbished compressor.

Also #kemche, AB has lost three jobs at CRCL, POW and JMS and has had to sell shares to get by. Please show more respect!

[kemche] 22/9/2021 10:21

Ettie buying?

[kemche] 22/9/2021 10:21

That was a buy as all shares are sold out.

[noirua] 22/9/2021 10:07

A 2 million share sale at 0.55p pushed Red Rock's share price down this morning.

[kemche] 22/9/2021 09:42

CRCL flying as Junior delivers on his word - yet again.

[kemche] 22/9/2021 09:42

Ettie needs another trough for "admin" having lost a couple of late.
Whoosh!

Liquidising event must be soon surely?

[mininglamp] 22/9/2021 09:35

Yet another podcast from Kenya based Caracal Gold suggesting Red Rock is a
likely target.

"we know all the incumbent licence holders, we talk to them (Red Rock are the closest) we think we are very well positioned to TAKEOVER or JOINT VENTURE"

[noirua] 21/9/2021 16:12

Red Rock Resources Plc ("Red Rock" or "the Company"), the natural resource development company with interests in gold, copper, cobalt and other minerals, announces an update in relation to its investee company Power Metal Resources PLC ("POW") and its joint venture with POW, Red Rock Australasia Pty Ltd ("RRAL") which is undertaking gold exploration at its granted licences in the Victoria Goldfields in Australia (the "Projects").

New Ballarat Gold Corporation PLC ("NBGC") is in course of incorporation and Red Rock and POW will hold their interests in the Projects through shareholdings in NBGC in the same proportions as their previous shareholdings in RRAL (50.1% Red Rock and 49.9% POW). RRAL will become a wholly owned Australian subsidiary of NBGC.

Andrew Bell, Red Rock Chairman, states: "We will now intensify work on the planned IPO of NBGC on the London markets. As I shall be heavily involved in that process, and will have a continuing role in NBGC before, and for some time after, listing, it is no longer desirable for me to continue my active role as Chairman and director of Power Metal Resources PLC. I have therefore notified POW that I shall be stepping down from those positions from the end of this month.

[noirua] 21/9/2021 11:41

Caracal Gold: 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.

Several exploration targets, other than Kilimapesa Hill and Red Ray, have been identified on the Prospecting Licence, these targets have been identified by past mining activities, artisanal mining, surface mapping, and exploration drilling programmes. Prospectivity was confirmed by IP programmes that delineated the extent of the mineralised veins within the target areas. The first target identified for development is Kilimapesa Hill where samples of vein exposures recorded grades up to 8.74 g/t, the second target is Teng Teng where underground development and drilling returned average grades of 15g/t and RC drilling intercepts include 2m @ 28.11 g/t and 1m @ 57.41 g/t.

The Kilimapesa Mine consists of five adits (A, B, C, D and Bull) which have intersected at least four gold-bearing veins, three of which have been developed through drives, raises, and stopes. The strike of the orebodies is +/- E-W and the dip angle varies from 45 to 70 degrees with drive sections of 2.5m x 2m and raises are excavated at 10m to 15m intervals along the drives. Ore grade is regularly sampled at the face. Ore >3 g/t is considered high grade and mined. In 2017-2019, the average underground ore grade was 4.1 g/t and ROM ore from the underground mine has traditionally been supplemented by tailings from artisanal mining activities which have accounted for up to 40% of the process plant feed.


Red Rock: MIKEI PROJECT in KENYA - 100%
On 22 February 2021, the Company announced the completion of a mineral resource and reported it as a Mineral Resource. 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 a contained metal content of 723 Koz Au. Macalder Tailings measured - • 68koz Au @ 1.7g/t.

11 August 2021: Red Rock Resources PLC (AIM: RRR, FRA: R2TA) said it has started a 2,000-metre drilling program at the Central KKM gold prospect, the central part of its Mikei gold project (MGP) in Kenya, following the recent receipt of all permits.
Holes will be drilled to a depth of between 60 metres and 220 metres and there is a possibility of extending the drilling program.
Elsewhere in the MGP, Red Rock said about 47% of an induced polarisation survey has been conducted in the Masurura area of the eastern license and a magnetics survey has started at Kurutyange, also part of the eastern licence.
Assay results are expected in the coming weeks - said Andrew Bell Chairman of Red Rock.
PODCAST 11 August 2021:

[the_debt_collector] 21/9/2021 08:49

I see the ramping crew are all over Caracal Gold today, current market cap £24m, they have 50k sq km licence area in Kenya & the same JORC gold resource as Red Rock.

Red Rock has 245 sq km of licence area - their Kenyan assets are valued at near zero !

It has been pointed out by one astute investor that one of Caracal's Executives has a very seedy past......


#GCAT Caracal Gold PLC

Financial manager and former technical playboy Brewer is about as mucky as it gets

Brewer was Landau's right hand man and for anyone royally shafted by any number of Pirate Pete's company's

One can only expect the same treatment here at some point #AVOID

[noirua] 20/9/2021 10:26

Noirua - 02 Oct 2020 - 11:59:26 - 10466 of 11466 RED ROCK RESOURCES PLC - Information Thread - RRR
I cant say anything negative myself in all fairness. I bought back into Red Rock late in 2018 after making well over 100% profit in the runup to March/April 2018 - those negative deprived others of profits at that time. At one stage this year I was down £32,000 and a few other investors including the company's directors very much more than that. In selling 97% of my holding my profit is about £5,700 plus 240,000 shares still held running for free.
At this point I'm waiting to reenter as there is a downdraft on shares both this week and last plus the placing.

All the mining sector is high risk and Red Rock Resources a high risk microcap. The company's Chairman did advise some time ago that far too many investors put more than they can afford into one high risk small cap company.

[mininglamp] 20/9/2021 10:07

Noirua

I am not sure what your agenda is here but I note you have been posting on Red Rock
for years.

From some of your posts it appears, with respect, you have little understanding
of the mining sector, you suggest you want to see grades far higher than Red Rock
have reported in Kenya but the grades they have reported are consistent in country, see the
recent Caracal Gold presentation for example.

I have to say your whole bias is negative, I have commented on the excesses of
the header before, far to much data which is meaningless and not reflective of
the future, why not cut all the historic rubbish out and focus on current events
and post links to the broker note and links to Red Rock's Twitter account that shows
recent activity.

I can only conclude you have lost heavily by investing here and, like others,
are determined to bash in a subtle fashion to detract prospective buyers.

[noirua] 20/9/2021 10:01

Red Rock's shares are not tightly held so any pressures on AB are just a little more than before. The DRC projects need his experience and the fact he is fluent in French and understanding Congolese French and how the whole setup works.

In Kenya the last 6 years of involvement with the legal case and experience how Kenya works and government expectations. Means he is a key person.

The broker note is by an in-house broker and they often come up with a bullish price. If RRR paid for a report and it was bearish then other companies might avoid giving that broker more work'
Anyway forecasts in the past have been 12p upwards and we can take these forecasts as we will.

Despite being a shareholder in RRR I have learned to be realistic. Hopefully, there will be a third bull run since early 2017. Remember RRR is a high-risk small micro-cap.

The rise in KAVango and the likelihood recent drilling has been successful is an indirect plus for Red Rock.

[mininglamp] 20/9/2021 09:41

I believe the investment proposition at Red Rock has never been better. Even allowing for recent
broker note was paid research it cannot be argued the target price of 1.6p was not ultra conservative.

The issue with ALL AIM resource stocks is you always get stale bulls who have
timed their entry points wrongly. If you read the bulletin boards there are
bashers on just about every thread, many are in the stale bull category, others
are often market participants like market makers or brokers who run a short book.

One of the main reasons, apart from the investments and project suite is Mr Bell
is up for re-election at the next AGM, his position will become untenable if he
fails to deliver the upside he promised investors.


Broker note link here - 1.6p target.

[noirua] 20/9/2021 08:53

One reason RRR's share price is low is the plain fact that Steelmin, Melville BGT Greenland, and several other contracts failed to come to anything. Melville costs for reparation continue and over £1 million so far.
The second reason is the record of cash-raising at over £15.5 million and cash running out at end of the year.
Confidence in AB is low among very many. Jupiter dividends are set to reduce again this year and El Limon royalties are slow to arrive.
The gold sector is very weak among micro-caps and the price for RRAL might put off an IPO. Kenya gold resource might be too deep to make it commercially viable.
Some form of cash-raising is absolutely certain.
A lot of shares owned are held against loans and repayments started in June 2021.

The counter upside is the shareholding in Power Metal and its shareholding and 50% interest in a KAVango project.

[the_debt_collector] 20/9/2021 08:07

Red Rock have 5 times the land package of nearby Caracal Gold with more or less the same JORC
gold resource of 700,000 oz, Caracal are valued at £20m and Red Rock interest in Kenya is valued at
near zero ?

Red Rock entire market cap is only £7m and that includes relatively liquid investments worth around
£3m.

The media process at Caracal Gold has been never ending, this draws significant attention into
Kenyan projects, eventually this interest will feed through into the RRR market cap.

[mininglamp] 19/9/2021 16:42

In the table shown if you click on the link, Red Rock is the third most undervalued company (out of 50) based on their JORC gold resource. ALTN is No 1 BTW.

Once again the investment criteria here is a stand out proposition.

[noirua] 19/9/2021 12:33

Hi greenpastures2, there is a header above you giving the details you require I'm sure you will be pleased to note. As far as how good results are so far you will find the Au grades at GCAT so you can compare theirs with RRR's. Maybe I'm being lazy not checking their website as I'm not really keeping up with GCAT's progress. Good fortune.