Red Rock Resources Share Discussion Threads

[kemche] 29/11/2021 14:00

And let's not forget we could sell our 3,383,633 shares in CRCL.

[kemche] 29/11/2021 12:47

"Red Rock are quite secretive about the loan position this year."

Almost Amulet and Steelmin like secrecy. Bodes well.

[noirua] 29/11/2021 12:13

Jupiter Mines Limited ASX: JMS

Jupiter shares have continued retreating from a 2019 high of 42c to 18.5c. Selling has been continuous without any announcements from the company since the new board of directors were appointed.

AB sold on the behalf of Red Rock about half its shares at 30.5c which has proved timely.

It has not been announced as to whether the remaining shares are still held against loans or not.

Red Rock are quite secretive about the loan position this year.

[kemche] 29/11/2021 11:26

Classic treeshake to let David Gruen and Alan Capone in on the cheap.

[noirua] 29/11/2021 11:23

Remember AB has mentioned that depth is an important factor for any conclusion over the gold results from Kenya. Will it be commercial?

[noirua] 29/11/2021 11:14

Manganese Ore Index 37% Price (FOB Port Elizabeth/US$ per dmtu)

Please note: the price stated is an average price only, collated by Metal Bulletin. The price is not necessarily indicative of the sales prices received by Tshipi/Jupiter.

Week commencing 29/11/2021 - US$3.46 (Last week - US$3.52)

[alannlane] 27/11/2021 18:58

I guess RRR will have its own idea of value. That's bound to be a lot more than the cosy little arrangement concocted with fraudsters. At such a giveaway price that Glencore bit their hand off.

[graylyn1] 27/11/2021 15:43

yes, that is what I think. We will just have to wait and see, but, in any event, RRR should receive at least half of the $20m as a safe bet if nothing else, surly?

[alannlane] 27/11/2021 15:33

Graylyn1...Thanks for the info!
I guess there is a fair possibility that Glencore would wish to come to an out-of-court settlement to limit political and public exposure.

[graylyn1] 27/11/2021 13:30

RRR Looks ripe for news flow!

DRC drill results are imminent, flotation of Australian gold asset IPO Dec-JAN, Elephant Oil IPO on NASDAQ Jan-Feb, Commencement of drilling at New Ballarat Gold Corporation in Australia Nov-Dec, update from Kenya Gold. ( current market cap just £6.8m @0.575p per share ) Please do your own research

This is all without the recent claim for compensation in the DRC, which could be "Substantial" and we may receive an update on proceedings fairly soon according to a well-connected poster on LSE.

-------------------- A clip from his/her post is below.--------------------------------

In DRC, VUP is suing Gecamines and Kamoto (Glencore) for $15mil being the unpaid part of the $20mil it says it surrendered Musonoi and the other two licenses for.

RRR is neither a defendant nor the plaintiff but is an interested party. As an interested party, it has been recognised by the Court. The Court has granted the DRC version of a Garnishee Order (hxxps://www.checkmyfile.com/jargon/garnishee-order.htm#:~:text=A%20Garnishee%20Order%20is%20a,to%20following%20a%20court%20order.)

This means that the $15mil is frozen and cannot be paid to VUP by Gecamine/Glencore, even if they wanted to.
Separately, RRR has secured an order freezing Kamoto's bank accounts in the DRC and secured a lien on its assets.

The Court has accepted RRR's standing and issued protective orders. VUP will now have to prove several things to the court, including that it could dispose of the assets in the manner that it said it did. It will be difficult for them to do that since they do not have the authority to do so. By prove, I mean to produce the relevant documents.

As to RRR's cash position, there are two completely separate matters: 1. The $20mil in the DRC and 2. Tortious Interference in the UK. The first relates only to the $20mil and RRR's position will be that if the transaction is recognised 50% belongs to RRR.

That does not expunge RRR's claim for tortious interference. The claim would be for the loss to RRR. The loss would be based on what revenue the asset would generate over its life: the starting point would be here [could not copy link, checkout proactive investors)

Having established the legal position in the UK ie., taken advice from Counsel. RRR then needs to get advice on quantum. AB quite clearly says that we were given Musonoi on the basis that there were at least 375,000 tonnes of copper there and about 24,000 tonnes of cobalt. RRR would need to do a DCF and then make adjustments. However you calculate it, it is a big number.

You need to note that a claim is not the same as a settlement or compensation. All of this is standard in these types of cases.

So far so good. We should know more by the back end of next week.

DYOR

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EDIT: estimated value for Mikei Gold Project, Kenya,

(est. value £9.69m) - Using the revised JORC mineral
resource statement (18 Jan 2021) of 480,400 Indicated and 242,600 Inferred
ounces of gold, as a reference point for our valuation, along with a 1.5% gold spot
price sum of $1,700 (rounded down to nearest $100) for each Indicated ounce
($25.5 per oz.) and 0.25% at the lower confidence level of ‘Inferred̵7; ($4.25 per
oz), a project value of US$13.3m (£9.7m) is derived.

An improvement to the JORC resource following the current drilling program
or publication of any future feasibility study could significantly enhance this
valuation. Ultimately, Red Rock believes this will prove a multi-million-ounce
deposit similar to its Tier 1 neighbour, North Mara

[noirua] 25/11/2021 17:23

Manganese Ore Index 37% Price (FOB Port Elizabeth/US$ per dmtu)

Please note: the price stated is an average price only, collated by Metal Bulletin. The price is not necessarily indicative of the sales prices received by Tshipi/Jupiter.

Week commencing 22/11/2021 - US$3.52 (Last week - US$3.43)

[algernon2] 25/11/2021 09:24

"buy close as poss to the bottom" great advice!
If only people were told or knew when the bottom or top was reached then life and selling would be so much more simpler and remunerative.

[alannlane] 25/11/2021 05:20

Mawson looks a great bet RRR looks a great bet. Buy close as poss at the bottom. Some buy at the top and then forever scream like a banshee about their loss and blame the company.

[noirua] 24/11/2021 15:15

Mawson Gold
Above just indicates how downbeat the gold and silver sector is.

[the_debt_collector] 24/11/2021 08:47

Another company about to spin out their Victoria Gold assets, like Red Rock

[alannlane] 22/11/2021 19:07

All the years of Alex's hard work deal-making and risk-taking now starting to pay off. Rome was not built in a day. And timing is everything.

[noirua] 22/11/2021 14:59

Gold shares have fallen badly across the pond as the gold price reverses.

[kemche] 22/11/2021 13:08

As anyone with experience will tell that court action in DRC will move rapidly. It could come as early as 2028.

[noirua] 22/11/2021 12:10

El Limon. Soma Gold seem more interested in their other gold interests rather than El Limon. So don't expect anything more than a dribble of returns in royalties.

[noirua] 22/11/2021 12:08

Legal matters in DRC is something AB is very experienced with and knows Glencore did not get where they are by giving millions away unless they are in a fix.
My money is on AB at the moment but don't watch the clock.

[noirua] 22/11/2021 12:06

Kenya is a different matter and all depends on increasing the resource and grades. Like other investors I've no idea what the results will be.
Anyway, matters look promising.