We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Red Rock Resources Plc | LSE:RRR | London | Ordinary Share | GB00BYWKBV38 | ORD 0.01P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0525 | 0.05 | 0.055 | 0.0525 | 0.0525 | 0.05 | 133,145,131 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Iron Ores | 0 | -2.67M | -0.0011 | -0.45 | 1.24M |
Date | Subject | Author | Discuss |
---|---|---|---|
19/11/2021 14:21 | Some shrewd folk are buying Red Rock equity right now. Think about it, if proven that a strategic project has been stolen from Red Rock by a subsidiary of Glencore potential damages would be enormous. The clue, for the uninitiated, is the fact that Red Rock are seeking pro bono litigation funding, this only happens when the numbers are monstrous and worthwhile for the lawyers ! Red Rock has 1.21 billion shares in issue, at .65p valued at only £7.8m | greekhovel | |
19/11/2021 14:13 | It hasn't been made too clear but it looks as if the bank accounts frozen in DRC is not Glencore Group or their subsidiary Glencore International. Therefore it look like one or more of the following subsidiaries of Glencore International: Kanoto Copper Limited, Mutanda Mining Limited or Kavango Resources Limited. Taking on Glencore can be a long drawn out process as Dan Gertler found out and he is very well heeled. Dan Gertler - the man at the centre of DR Congo corruption allegations Glencore, Gertler, Gecamines : $150 Million at Risk This includes the Kamoto Copper Company a subsidiary of Glencore tied in with Gecamines. | noirua | |
19/11/2021 09:00 | This is going a lot higher, the shares were 1.35p in Q1, recent broker note offered a conservative target of 1.6p and that was before the possible legal action against Glencore which could be worth tens or even hundreds of $m | the_debt_collector | |
19/11/2021 07:58 | I really do not think the market has understood the scale of possible damages Red Rock could secure against Glencore, it could be VERY significant. It seems Red Rock have 2 claims, one for up-to $20m against their JV partner and another for being deprived of the asset in the Congo against Glencore, this could amount to a conservative range of $100m to $500m or even more. This is from a poster who is clued up and is apparently close to one of Red Rock's largest shareholders. Gecamines reckoned that there was 200k tonnes of copper and 24k tonnes of cobalt at Musonoi. Any claim would be based on 51% of that loss over the next 10/15 years. A good case can be made that the claim should be for between $500mil and $1bn. Without any doubt this is the most exciting event to have occurred at Red Rock for many years, investors are yet to latch on, the current m/cap of Red Rock is sub £7m ! | mininglamp | |
18/11/2021 20:45 | Header is being updated to more current events. Apologies for any disruption. Should be updated by the start of trading tomorrow 19 November. | noirua | |
18/11/2021 16:38 | MUSONOI AREA 1 PE4962 - KAMUKONGO PE663 - KASOMBO SOUTH PE2360 - in Democratic Republic of Congo 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: | noirua | |
18/11/2021 15:55 | Moving up behind the scenes, only £5000 of stock available at full offer then it moves up. | broken_arrow1 | |
18/11/2021 15:48 | Red Rock equity traded at 1.35p in February, the stock has fallen in line with the sector but recent developments on the ground suggests the shares are way below true value. Conservative broker coverage offered a target price of 1.6p a share some months ago (see here) The 1.6p target was also before yesterdays potential legal claim against Glencore which is worth more than the current market cap on base case level alone. No wonder buyers are snapping up the cheap stock. | mininglamp | |
18/11/2021 15:04 | Always the same on AIM, folk will be piling in when RRR is top of the leader board, the shrewd will be buying now in anticipation of a significant & ongoing news-flow period. The projects/assets & cash (not forgetting a potential $10m+ claim against Glencore) should mean RRR is valued circa £20m-£30m but here we are sitting at a £6m m/cap. Laughable, should be 1.5p/2p a share not .57p | the_debt_collector | |
18/11/2021 12:52 | Red Rock Resources – DRC and projects updates, some interesting potential & a Glencore legal bonus? | greekhovel | |
18/11/2021 12:18 | Glencore with its DRC bank accounts frozen has important cobalt and battery metal interests in the DRC adjacent to RR and will need to put matters right and settle with RR as a matter of urgency. The sum involved + compensation is small beer for a company the size of Glencore. | alannlane | |
18/11/2021 12:09 | I could not believe the commentary on here concerning the Congo so listened carefully to the Proactive interview, it is quite clear, Mr Bell says "We have frozen Glencore's accounts in the Congo" This has to be a very significant event for Red Rock, to do this they must feel they have been done down badly, in which case their financial claim could be significant, potentially way beyond $10m if Glencore has acted improperly. I am staggered you can still buy the shares at current levels, I can only put this down to investor ignorance on the situation. Remember the entire company, which includes cash/investments worth circa £2m-£3m is only valued at £6.5m. At 1p a share Red Rock would only be valued at £12m ! | mininglamp | |
18/11/2021 08:11 | Just 250,000 at full offer then it moves up, premium being asked for higher quantities currently. | broken_arrow1 | |
18/11/2021 07:58 | If it is proven that Glencore have taken possession of the project in Congo without Red Rock's permission, illegally, then Red Rock will be seeking a whole lot more than $10m in compensation. If you read the RNS the company implies as much. The fact that Red Rock have frozen Glencore's bank accounts in Congo via court order shows this is serious for them and RRR mean business. | the_debt_collector | |
18/11/2021 07:50 | Despite reservations over Andrew Bell he has proved he can win court cases and disputes in Africa, he seems well connected. The latest situation is enthralling for shareholders, it shows that an asset they had on the books for circa £500k changed hands for $20m (their 51% stake being worth more than the entire valuation of RRR) + the potential for a circa $10m+ cash windfall from Glencore if RRR win the case or settle amicably. All of a sudden £6m valued RRR has become a interesting investment proposition. | m1sterx | |
17/11/2021 19:27 | youtube. Andrew Bell looking well, fighting fit and up for it. An extremely interesting situation has arisen that is potentially very beneficial for shareholders. Plus the imminent Aussie gold listing heading into which increasingly appears to be a bullish time for gold. Plus several other intriguing projects on the boil. Ridiculously low market cap. V happy to be holding at this point in time!!! | alannlane | |
17/11/2021 17:53 | So Red Rock has frozen Glencore's accounts in the Congo ! To break down the somewhat long winded explanation the key points over the prospective 50% claim on a suggested $20m are below - the most interesting aspect is Red Rock has stated they have frozen Glencore's accounts in the Congo. "It looks like $20m was going to be paid for (a project) which we have just over 50% of." "We have a good remedies and we think we will come out more than ahead." "We have over 50% of a joint venture which controlled cert door to Glencore's big pit, right up to the boundary which contained cobalt and copper, there was no question that they (Glencore) wanted this asset. Somehow or another we are led to believe this asset has now ended up in their hands." Andrew Bell suggests that RRR JV partner passed the asset to a third party for a large sum of money who subsequently sold it to Glencore for an equally large sum of money - $20m has been mentioned of which it seems $5m has been paid to date, the rest of the money has not been forthcoming so far. RRR is taking legal advice and has frozen Glencore's accounts in the Congo (mentioned in the Proactive interview) here .... (after 5mins 40 secs) | the_debt_collector | |
17/11/2021 15:51 | Bell clarifies that Red Rock have a 51% claim on a purported $20m. | the_debt_collector | |
17/11/2021 11:58 | And whatever happened to the impending heavyweight, big hitter, influential appointment to the board? Quietly shelved like so much else? Not even a lightweight small hitter? | kemche | |
17/11/2021 11:55 | Expecting GLEN to takeover RRR and cut out the middlemen. But only after some more "Admin". | kemche | |
17/11/2021 11:49 | My understanding is that RRR's JV partner in the Congo (namely VUP) have passed ownership of the Musonoi Copper project over to a subsidiary of Glencore (namely Kamoto Copper Company SA) for the sum of $20m of which $5m has already been paid. This has now come to light because VUP (RRR's partner) are now seeking the remaining $15m through the court in Congo from the Glencore subsidiary. Red Rock (who own 51%) were clearly unaware of the sale of the project, they say it was a dormant asset, so have protectively seized the $5m already paid, in effect RRR have right on 51% of the sale of the project, potentially worth a fraction over $10m. This is an interesting development on a dormant project that was on RRR's books for only £565k. The potential claim by Red Rock is £7.5m ($10m), more than the value of the entire company currently !! This is my understanding of the situation. | the_debt_collector | |
17/11/2021 11:42 | Very successful indeed. | kemche | |
17/11/2021 10:58 | It seems the reality of the dispute in the Congo is starting to be understood by the market, Red Rock have a possible claim against a subsidiary of Glencore which could amount to $5m to $10m. I assume this is what Mr Bell was referring to in the RNS where he says.... 'We believe that remedies will be available which may be of substantial benefit to shareholders' Red Rock have been successful in the African courts before. | mininglamp |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions