Red Rock Resources Share Discussion Threads

[flughafen17] 30/12/2021 11:50

Remember Red Rock are pursuing alleged wrongdoing in the DRC to the tune of at least $10m, not against some shady outfit but a subsidiary of Glencore.

Some believe the actual amount could potentially be multiples of that number.

Red Rock have, through the courts, frozen the Glencore subsidiary bank accounts until the matter is resolved.

It seems the next court case is imminent.

[broken_arrow1] 30/12/2021 09:40

Book has turned positive, nothing available online right now, IG want a premium for just 100,000 shares.

Looked elsewhere and it appears lots of news is in the pipeline.

12 month high was 1.35p

[kemche] 29/12/2021 15:21

You cannot beat "admin".

[atossa] 29/12/2021 14:49

Must have been one helluva christmas party!

[kemche] 29/12/2021 14:36

Industrial scale.

[atossa] 29/12/2021 14:29

Admin expenses seem very high for such a small company, quite impressive in fact.

[noirua] 29/12/2021 12:27

From today's Annual Results:

Year Under Review - Financial Results

In the year to 30 June 2021, reported group loss for the year was GBP1.699 million after a reported profit of GBP5.156 million in the previous year.
This reflected primarily an increase in administrative and expensed project development costs during the period, after the one-off 2020 write-back of the Company's interest in the Kenyan gold assets in the previous year.
Dividend income received during the year dropped from GBP0.419 million to GBP0.125 million, reflecting a lower payout and ongoing reductions in Jupiter Mines Ltd holding.
Group payroll and related costs increased reflecting the additional activity in Australia, Kenya, London and Congo.

Cash £457,000 at June 30 2021.

Total administrative expenses £699,000 up from £597,000 in 2020.

Total finance income £285,000 down from £553,000 in 2020.

Total project development expenses £559,000 up from £42,000 in 2020.

Total Other Project Costs: £305,000 down from £319,000 including Greenland Reparation Costs £126,000 down from £158,000 in 2020.

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Total current liabilities £2,044,000 down from £4,423,000 for the group including short term borrows of Short-term borrowings £969,000 down from £1,078,000 in 2020 for the group.

During the year, on 6 November 2020, the Company's 100% owned subsidiary, RRR Coal Ltd, refinanced its existing loan facility with Riverfort Global Opportunities PCC Limited and YA II PN Ltd, increasing the total amount available for draw-down to USD 2.0 million, and drawing down an initial gross amount of USD 1.0 million with additional tranches available at the lenders' absolute discretion.

The notes are secured on 6,302,000 shares in Jupiter Mines Limited as well as 20,000,000 shares in Power Metal Resources Plc, which were transferred from the Company to an escrow account for the duration of the loan as well as by a corporate guarantee, executed by Red Rock Resources Plc.
The notes carry an interest rate of 10% and come with a 7.5% implementation fee and are repayable over a six-month period, starting in June 2021.

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Warrants in Issue:
At 30 June 2021, the Company had 380,197,618 warrants in issue (2020: 101,740,195) with a weighted average exercise price of GBP0.0015 (2020: GBP0.0087).

Weighted average remaining life of the warrants, at 30 June 2021, was 582 days (2020: 631 days). All the warrants were issued by the Group to its shareholders in the capacity of shareholders and, therefore, are outside of IFRS 2 scope.

2022 Expiring Warrants:
10 Dec 2019 ----- 19 Dec 2022 ----- 0.9p ------ 56,875,000

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Freebies Issued: During the financial year, a total of 13,768,254 Partnership and Matching Shares were awarded and 1,800,000 Free Shares (2020: 14,717,790 Free, Partnership and Matching Shares were awarded) with a fair value of GBP0.00155 for the Partnership and the Matching Shares and GBP0.01 for the Free Shares (2020: GBP0.00145), resulting in a share-based payment charge of GBP39,341 (2020: GBP14,227), included in the administration expenses line in the Income Statement.

More Freebies: Performance Option Award

On 24 August 2020, the Company announced the grant of 21,000,000 performance options to Directors and key staff, representing in aggregate 3.01% of the existing share capital of the Company, split between two pools of 10,500,00 performance options at a price of GBP0.002 per share and GBP0.0025 per share A pool of 6,000,000 options has been created for distribution at the Board's discretion to key consultants and advisors.

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Kenya Licensing

On 17 August 2020, the anticipated renewals of Prospecting Licenses PL/2018/0202 and PL/2018/0203 (formerly SPLs 122 and 202) had been received for a period of three years from 2 August 2020.

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Corcell PLC: During the reporting year, the Company sold 3,383,633 shares in Corcel Plc to maintain the Company's working capital. Gain on sale of these shares recognised in the Statement of Other Comprehensive Income amounted to GBP65,606.

Jupiter Mines Limited

During the reporting year, Jupiter Mines Limited has made distributions recognised as dividends and included into the Dividend line in the Consolidated Income Statement in the amount of GBP0.126 million (2020: GBP0.419 million).

At 30 June 2021, Red Rock retains a 0.53% stake in the share capital of Jupiter Mines Limited (2020:0.81%).

[ View of the Results - NEUTRAL ]

[philjeans] 29/12/2021 11:08

Great time to BUY.

All coming together well.

Tipped in NY recs.

Gold up in 2022.

[noirua] 21/12/2021 22:36

Jupiter Mines Third Quarter Report to 30 November 2021

[mininglamp] 21/12/2021 12:24

Mr Bell's sales of shares in Jupiter Mines and Power Metals were well timed to raise around £1.3m, I wonder when the tide will turn here, the shares are down from 1.35p to the current .425p.

It is interesting that, as I type this, they are asking a price premium for anything over 250,000 shares.

Mr Bell has suggested news-flow will be ongoing & potentially material, it could be argued that Red Rock has an equal project portfolio to £15m valued POW or £15m valued GCAT but ore only valued at £6m.

[philjeans] 15/12/2021 12:35

Excellent news there today; drilling well underway and new site has grown my 50%!.


Never better value.

[noirua] 15/12/2021 09:32

Diamond drilling in Victoria. Difficult to say whether it is a plus point or not. If it comes off good if not bad. Costs are a downside factor though managing to go-ahead with drilling a plus.

[noirua] 13/12/2021 11:26

Red Rock's market cap is low at under £6 million but may not be the complete saviour at this point. Looking far better than its neighbour POW on this point but but but AB has not brought home the bacon for many years now. Red Rock pigs only eat cash and there is some snorting going on.

[noirua] 08/12/2021 12:26

Kenya drilling, assays to Tanzania and a number of other areas being looked at is far too vague to cast an opinion on. Maybe investors were expecting assay results by now - on their way to Tanzania when we expected the assay results to have arrived from the outpost.
So all together slightly bullish but slightly negative at a perceived unexpected delay on drilling results and updated JORC resource.

[kemche] 08/12/2021 10:28

" expand the existing resource envelope and identify areas of higher grade"

And the very best of luck with that.

Whoosh!

[kemche] 07/12/2021 16:54

"RRAL and will be the vehicle for a possible listing in London"

The possibility is right there - whoosh!

[noirua] 07/12/2021 15:22

The news today is neutral on NBGC though it does show events are moving at a very early stage - cant be anything wrong in that. The gold sector is still on its knees but struggling to get out of the swamp - some of the bigger stocks like Newmont and Barrick are showing early signs of underlying strength - in the swamp that is.
Being a little fairer NBGC is OK as an early stage Victorian hope and dream minnow. Should be some interest in a flotation next Spring me thinks.

The US$ is strong of late against the A$ and GB£ so currency costs are even. The US$'s strength is very favourable to Australian gold producers. True NBGC hasn't got any gold but at least something to smile about.

[kemche] 01/12/2021 11:49

Salutary advice:


the_debt_collector - 26 Apr 2019 - 06:54:07 - 7232 of 11499 RED ROCK RESOURCES PLC - Information Thread - RRR

No matter how much money this company receives via asset sales or dividend it will always be squandered on the next 'must do' project - not forgetting director remuneration.

Many take the view this company is a total avoid.

[noirua] 01/12/2021 11:15

Reversing as the likelihood of IPOs going ahead looks dismal. This means financing of interests with no return probable and shares held in Jupiter, Corcel, and Power Metal have reversed badly. Corcel 1.15p, Jupiter 18.5c and Power Metal 1.55p.

Good gold results from Kenya might help a lot. The DRC situation does not seem to me to have been fully explained as to how off-the-ball or not Red Rock were - maybe asleep at the wheel.

[noirua] 01/12/2021 00:09

JUPITER BOARD AND STRATEGY UPDATE
1 December 2021

[noirua] 30/11/2021 16:55

Covid developments are likely to impact Red Rock. All the shares held are now well down making any further on market sales difficult. The IPO of NGBC looks impossible in the short term.

The possible outcomes in the Congo might be favourable. Gold drilling results in Kenya might be OK. At least RRR has two well made straws to hand copper plated and lined with gold.

[kemche] 30/11/2021 13:09

ut whoosh?
Whooshare?

[algernon2] 30/11/2021 12:55

"Bunter; conjugate the verb "to whoosh" please! No in LATIN boy in LATIN!"

[kemche] 30/11/2021 12:45

Once the treeshaking stops then whoosh!