Red Rock Resources Share Discussion Threads

[noirua] 17/4/2022 12:07

Jupiter Mines - the number of shares still held by Red Rock SHOULD be notified in the Half Year Report out later this month. In posting, I have no clues as to whether any have been sold or how many are held by another party against loans to RRR.


Her credo, according to her obituary in the New York Times was "Sell cheap, tell the truth, don't cheat nobody."[1] - Rose Blumkin

[noirua] 16/4/2022 14:48

NBGC
12 April 2022
Power Metal/Red Rock's NBGC venture assessing drill results in Victoria
Power Metal Resources PLC (AIM:POW) said it's New Ballarat Gold joint venture has paused drilling at the O'Loughlin's and Mt Bute prospects in Victoria to allow for the receipt of outstanding assays.
NBGC is a joint venture between Power Metal (49.9%) and Red Rock Resources (50.1%).

[noirua] 16/4/2022 11:54

This answers the reasons for the rise and fall in the price of Red Rock's shares - 2005 to 2022 - combined with the worse fall known in the mining sector from 2011 to 2016. Greenland collapsed after large expenditure. Kenya had cash piled into it and the mining license was withdrawn in 2015 - now revived but drilling results are lackluster.
Finally, Steelmin collapsed plus less substantial losses at Shoats Creek and Amulet. Regency Mines shareholding collapsed in value and Jupiter Mines's shares were sold down.

---

Investors looking at the here and now hope for cash from the Musonoi legal efforts in Lubumbashi. Cash from the Elephant Oil IPO. The flotation of NBGC. A hoped-for good outcome and sale of Kenyan assets.
There are the royalties at El Limon and iron ore royalties at Mount Ida.
Red Rock holds shares in Jupiter Mines, Power Metal, and Juno Minerals - the Half Year report is awaited to see if or how many shares have been sold and what the loan book is.

[noirua] 15/4/2022 12:06

Picayune is worth 6.25c US or 4.8p UK. So I suppose if Red Rock can become valued at 1 picayune investors will be very happy indeed.
Much depends on the Half Year results to 31 December last and whether there is up to date information within it. Usually, the halfway point garners little interest but this time out it looks very different.

For some investors going back over 10 years, Red Rock has been grotesquely transmogrified so hopefully, it will be metamorphosed in the form of transmogrify this time

[kemche] 14/4/2022 21:07

All the large investors find themselves as picayune investors under dad's stewardship Frederick. Give it up. The old man's a dud and has been for decades.

Porterhouse blues.

[atinos auntie ettie] 14/4/2022 20:05

This small explorer appreciates its small investors and would like said same to become large investors via the medium of share price appreciation as, one hopes, Red Rock transmogrifies into a larger entity.

[noirua] 14/4/2022 09:50

So many who arrived here over the years forget one major point and that is to make money on the investment and take on board the fact that a microcap explorer is as higher risk as it gets in the investment sector - a punter's dream or destructive hell depending on your sense of humour or indeed sensibility.

Learn from the likes of EK who may have lost £2 million on one investment but that appears not to have mattered all that much as it could have been worse. Losing, like many of us, £60k on Oxus Gold was I guess a small loss.

Only invest not just what you can afford to lose but that amount that is like a £50.00 bet on a horse and its loss a 'so what' amount. As AB once said, small investors put too much money into a small explorer: An annoying comment to some no doubt.

[kemche] 13/4/2022 16:03

I think I may have found the answer: "The Company no longer holds a material
investment in Jupiter Mines. "

Just imagine if they did!

[noirua] 13/4/2022 15:21

kemche - 13 Apr 2022 - 13:26:15 - 12099 of 12101 RED ROCK RESOURCES PLC - Information Thread - RRR
How many shares do we still hold in JMS?
---
Answer - How many JMS do we hold indeed. Jupiter is always loaded with cash due to having just one asset a 49% interest in Tshipi in the Northern Cape run by others. Money just rolls in as they sun themselves on the beech - 'easy peasy'.
IF RRR still has the same holding as on 30 June 21 divis should arrive twice a year.

If RRR held the same number of shares as in 2010 then the Red Rock share price would probably be 20p or more.

[kand17] 13/4/2022 14:18

I ditched my RRR shares after a short hold, company full of pumpers. Bought EEE and actually made money. Too many of these juniors management teams treat the companies like piggy banks off the back of us.

[kemche] 13/4/2022 13:26

How many shares do we still hold in JMS?

[noirua] 13/4/2022 12:47

Jupiter Mines Quarterly Report - 31 March 2022

Cash at bank AUD million 71.4

[noirua] 13/4/2022 09:47

RNS Number : 8801Y

Red Rock Resources plc

19 January 2022

Red Rock Resources PLC

("Red Rock" or the "Company")

Judgment for Damages Obtained in DRC

19 January 2022

Red Rock Resources Plc, the natural resource development company focussed on gold, but with developing interests in copper, cobalt, and other minerals, announces an update on the Red Rock VUP Project (the "Joint Venture"), further to its announcement of 6(th) January 2022.

On 14(th) January 2022 the Commercial Court of Lubumbashi issued an executory judgment ordering VUP SA, the Company's partner in the Joint Venture, to pay $2,000,000 as damages, with costs.

This follows the earlier judgment for payment of a principal amount of $2,505,000, representing 50.1% of the payment already made by a third party to VUP SA.

Red Rock Chairman Andrew Bell comments : "These awards in our favour of $4,505,000 plus costs are steps in a process, and do not put this money into our account, nor do they represent the totality of our potential claims.

We now begin to move to the enforcement and extra-judicial phases of proceedings.

The Company expects to announce drilling results from another project in the DRC, Luanshimba, within the next days."

Any material developments will be reported as they occur.

[noirua] 13/4/2022 09:39

Until the Half Year results appear to 31 December 2021 and hopefully a further update to at least the end of March 2022: It will not be possible to work out where Red Rock is at present both on the cash front, shares still held, and the debt position.

The Musonoi outcome with regards to claims against VUP SA looks quite crucial. The $4,505,000 £3,465,000 plus costs and further claims look badly needed. Obtaining this money would obviate any need for cash-raising.

Any cash from IPOs looks uncertain and doubtful from gold and iron ore royalties.

Kenya drilling results have not improved the likely, to be updated, JORC 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.

The shares remain a difficult long-winded gamble. Having said that the share price at 0.41p isn't asking for much.

[kemche] 12/4/2022 15:41

Exceptional results from Victoria - as is the hallmark of Bell.

[kemche] 12/4/2022 14:34

Algernon - I beg you in the name of all that is holy - will you please stop embarrassing me?

[noirua] 12/4/2022 14:34

Unfortunately, the gold results in Victoria are poor. I'll leave it at that as it is their first drilling.

[on target] 12/4/2022 14:32

One good grade interval but with a tiny width, the others with both tiny grades and tiny widths.
Just the usual dross unfortunately.

[36jay] 12/4/2022 14:20

Massive news.wow. hxxps://www.share-talk.co.uk/announcements/rns/red-rock-resources/update-on-gold-exploration-in-victoria/202204121400081540I

[noirua] 11/4/2022 11:29

An Epitaph - posted to punch home past negatives against positives in NBGC and Musonoi and perhaps EOC.

Torp - 20 Jul 2021 - 14:44:14 - 11155 of 12089 RED ROCK RESOURCES PLC - Information Thread - RRR
I see the same old shysters are still trying to pump this utter POS unscrupulously,
desperate to lure in the gullible to boost their positions. It has been and will
always be imho a total sucker share.

It simply moves from placing to placing to placing whilst Bell fritters away untold
£millions on Admin and expenses. Hence there will rarely be shareholder
value delivered imho.

Yearly Amounts Spent On Admin

2012 - £2,275,786
2013 - £4,751,948
2014 - £1,563,808
2015 - £1,334,404
2016 - £758,351
2017 - £644,688
2018 - £849,518
2019 - £591,777
2020 - £597,000

That's where much of the money disappears to. All it needs is gullible people
to keep buying the "jam tomorrow" stories. I'm so glad I am no longer one of
those gullible saps.

As well as placings the company just goes from one failed project to the next:

Greenland Project - spent millions and eventually sold it off for just £1

Shoats Creek Oil - Project failed and was written off

Steelmin Project - Went bust just after Bell loaned them another £1.1m
etc etc etc

Worse still the company began to engage in various loans and transactions which they failed to RNS to shareholders/markets.

RRR conducted loans and transactions with Amulet Diamonds that were not RNS'd.
Shareholders discovered 5 months later in a small paragraph in the Annual Report

Bell loaned a further £1.1m to the failing Steelmin project which he didn't RNS.
Simply appalling.

Steelmin ceased operations in Sept 2018, RRR did not RNS this

Steelmin went into Administration Feb 2019. RRR didn't RNS this event despite
RRR having a 22% stake in the business.

Frankly anyone who puts their cash into such a POS thoroughly deserves to lose
their money. If loans and key events are not going to be RNS'd then I'd consider
that I was investing blind. There are surely better AIM companies to go at without
such ridiculous problems.
DYOR

[noirua] 11/4/2022 09:37

Even Ken Dodd would recognise the longevity of your humour kemche. I've searched for Torp but fear he has been lost.
Anyway, the last financial report was for the year ending 30 June 2021 and we, investors, have no real clue as to the cash in the bank and what shares held have been sold. We also do not know the position of today's loan book.
The Lithium tenement, many companies are buying them, is very early stage and probably green field.
What is really awaited is the IPO of NBGC and cash from Musonoi sold under RRRs feet.
The Elephant Oil float is dragging on a bit and though favorable is no certainty timewise.

[kemche] 11/4/2022 08:18

"Mr Bell has talked about a possible JV with a US company."

That's very important because that is the first time he has spoken of such a thing in his entire tenure at RRR.

Whoosh!

GLA LTHers!

[mininglamp] 11/4/2022 07:56

Many believe there will be a uplift in the well battered down junior mining/exploration space shortly, mid caps and majors are starting to take project or equity stakes in the minnows at last.

I have to say I am surprised RRR has fallen so far for no obvious reason, the shares hit 1.30p last February but have fallen with the sector.

One could argue that Red Rock are in a better place now than at that time with IPO's ongoing and now the potential for material compensation from events in the Congo.

The current market valuation is £5m, the Lithium project (and location) is very interesting especially as Mr Bell has talked about a possible JV with a US company.