Red Rock Resources Share Discussion Threads

[jlondon] 08/4/2022 20:32

Red Rock Resources
I heard 2 Andrew Bell interviews on Proactive and Vox relating to LITHIUM licences in Zimbabwe.

Mr Bell was also in the Zimbabwe News as he said in the last 4 months, the Chinese have been active re: Acadia lithium takeover for US$400m and NOT in production [it was $422]. Also, Zimbabwe is the largest producer of lithium in Africa. A.Bell also said that the Chinese was to "dominate" etc in this field in Zimbabwe.

Mr Bell is getting 2 licences, one NEAR ACADIA and the other near BIKITA mine.
Everything is done by paper work hence taking a bit of time.

Mr Bell is also looking for a PARTNER for this lithium project/s.

Elon Musk has said Tesla may go into LITHIUM mining - News just out on Twitter today.

So, RRR at £5m.

J.London , Fri, 8 Apr 2022

[noirua] 07/4/2022 10:59

David Lenigas is now resident in Australia and Chairman of Riversgold ASX: RGL.
He was Chairman of Doriemus but was elbowed out a few years ago in Australia.

Andrew Bell probably retained his position as Chairman, really CEO, as he is fluent in business and mining French which is vital in the Congo.

[greekhovel] 07/4/2022 10:10

So did Red Rock do well in acquiring a large licence package surrounded by majors and mid caps in the Congo, it would seem the answer is yes.

The 'problem' appears to be that Red Rock do not seem to be able to communicate with the market correctly.

Bring forth a certain Mr David Lenigas.

[noirua] 07/4/2022 10:01

Musonoi Deal March 7 2019:

[noirua] 07/4/2022 09:27

The deal was carried out by VUP Musonoi Mining SA a partner of Red Rock with a subsidiary of Katanga 100% via Kamoto 75% owned by Glencore.
RNS 6 January 2022
Red Rock VUP Project (50.1%)

-- An Audience took place today in Lubumbashi at which the Company's claim for interest and damages of $11,000,000 was heard, with judgment to be given within eight days

Red Rock has been seeking advice in the Congo and in London on the various remedies available to it, and has obtained Orders against VUP and others in the Congo which protectively seize 50.1% of the $5,000,000 understood to have been paid so far, and which now instruct VUP to pay Red Rock $2,505,000.

Note : The period in which an appeal may be lodged against the Payment Order has not yet expired. Additionally, payment of the amount ordered to be paid depends both upon the ability of the Company to secure payment and the ability of VUP to pay.

Every local judgement has been in our favour. We are glad to have received further vindication of our position in the Payment Order from the Court which we announce today, though as we note below there is a difference between getting a judgment and receiving funds.
----

Red Rock Resources Plc. ("Red Rock" or "the Company"), the natural resource development company with interests in gold and base metals announces the acquisition of two prospective exploration projects by the Red Rock Group in the prolific Boromo and Banfora Greenstone Belts of Burkina Faso.

The assets are held by Faso Greenstone Resources SARLU ("FGR"), a wholly owned subsidiary of Faso Minerals Limited, which itself is currently wholly owned by Red Rock.

FGR is a company targeting the next significant gold discovery in Burkina Faso. FGR has consolidated two prospective project areas in the south-west of the country.

[greekhovel] 07/4/2022 09:17

Where is all this money from the DRC court rulings, was it $5m imminently.

I did read elsewhere that the eventual claims could be in excess of $100m as a major mining company have allegedly acted impropriety.

One assumes the DRC court rulings are real, what about an update ?

[noirua] 07/4/2022 08:41

Juno Minerals ASX: JNO
MOUNT MASON PROJECT RECEIVES
FINAL STATUTORY APPROVAL
7 April 2022


Profits from Mount Mason will be used to advance Mount IDA over the following two years.

MOUNT IDA ROYALTY: Red Rock holds a 0.75% Gross Revenue Iron Ore Royalty (GRR) over Mt Ida, and a further 0.45% GRR over Mt Ida which transfers in two tranches to Anglo Pacific Group plc for consideration of USD8,000,000 upon the reaching of certain development milestones.
The Mount Ida iron ore reserves were transferred to Juno Minerals Limited on the IPO of the company.
The Central Yilgarn Iron Ore Project consists of (a) the Mt Ida magnetite deposit, where a 1.23 bn ton JORC compliant Indicated Resource of 29.79% Fe in its Central Zone, capable of beneficiation to a 66.65% concentrate, and a JORC compliant Inferred Resource of 615m tons at 28.86% in the Northern and Southern Zones, was announced by Jupiter on 8 January 2013.
Juno Minerals:
Mount Ida:

[grimreaper2019] 06/4/2022 16:22

Andrew Bell said in a Stockbox interview in early Q4 that RRR would only dilute equity holders at FAR higher levels than the market valuation at that time (it was then £9m)

The current valuation is £5.2m, surely Mr Bell would not mislead his flock would he ?

Maybe Ettie is right and the current share price is, indeed, an aberration.

[graylyn1] 06/4/2022 16:17

Too many projects IMO and not enough to fund them all. A lot of money WASTED over the years, Andrew Bell does a lot of talk and waffle but the company lacks focus and direction, I will never invest in RRR again, it is all hot air and no substance I have wasted too much time on it, no more. RIP RRR

[kemche] 06/4/2022 16:08

"we should also acknowledge that the market believes no additional value been delivered in six years. To me this is quite unfair."

Utterly unfair.

Sheesh!

[kemche] 06/4/2022 16:07

Everyone knows what's coming Frederick so give it up.

[grimreaper2019] 06/4/2022 15:59

The Elephant Oil listing on Nasdaq will be helped by this news - Namibia seems to be a red hot oil discovery address right now - so how much is Red Rock's stake worth, pre IPO RRR are one of the largest shareholders.

Happy days: Shell’s Graff discovery in Namibia holds 2 billion boe of oil and gas - sources

[noirua] 06/4/2022 15:07

I must agree that Red Rock is far cleaner though I'm not certain if that means cleaned out of cash or not.
Value has been lost in Steelmin, Amulet, and Greenland.
The value may have been added in Musonoi if it is possible to get ones mits on the cash that has been nicked. Kenya has been returned but how much is it worth? The royalties are due on gold and iron ore production but when? NBGC should IPO but when?
Elephant Oil should IPO but when?

The share price is too low on a probability or maybe basis. It does need one 'home and dry' event to occur. Not grabbing defeat from the arms of victory in the final moments.

[atinos auntie ettie] 06/4/2022 14:18

The share price has returned to a level first seen in 2016. If we accept this suggests value has been retained with no diminution versus that time (an achievement in itself) we should also acknowledge that the market believes no additional value been delivered in six years. To me this is quite unfair. The 2022 Red Rock is far cleaner with considerably more upside than the 2016 entity. Let us be clear, the current lowly share price is an aberration.

[kand17] 05/4/2022 19:07

I sold, didn't realise the management were such a butch of ball bags.

[aussiebeach] 05/4/2022 08:31

Looks like the supply of stock at .40p does not have long to go, a premium being asked for anything over 2m shares (£8k) currently.

Yesterday no premium up-to 6m shares.

[kemche] 04/4/2022 13:15

Whatever happened to the "no stock available" crew?

[noirua] 04/4/2022 13:02

It looks as if there is a delayed substantial sell as so much stock is being sold by MMs at 0.4p.
Too much stock is available. Or maybe just the 2 x 4m sells were enough.

[kemche] 04/4/2022 11:54

Classic MM treeshake with forward buying.
No stock available.

[tomboyb] 04/4/2022 10:19

Bell should go -

[m1sterx] 04/4/2022 10:08

Another new oil discovery announced today in Namibia, this location has become a real hot spot for discoveries over recent months.

RRR stake in Elephant Oil (398,000 shares) will be worth a great deal more than many believe.

Red Rock looks a interesting proposition at current levels.

[noirua] 04/4/2022 09:16

I have increased my holding in Red Rock by about 45% at 0.395p.

At least the strengthening Aussie Dollar is adding to the value of NBGC.