Red Rock Resources Share Discussion Threads

[jlondon] 28/4/2022 15:13

The asset listing of 22 Mar 2022 which you pointed out kemche with thanks said that the DRC asset: "BY MINING -OUT OF THE SMALL CO TRAP."

Indeed, as I said, needs regular income.

Unfortunately, the 49.9% JV partner sold out and I wonder if this partner
should even RRR's 50.1% share ie WHOLE PROJECT or just their share of 49.9% share otherwise why the LITIGATION?
Ref: DRC copper project JV Vup.

A bit unclear.

28.4.22

[kemche] 28/4/2022 15:10

You still have an hour and 20 minutes.

[jlondon] 28/4/2022 15:09

Yah, forthcoming interims tomorrow etc -may be too late to find out.
LoL, need to know today. Thur, 28 Apr 2022.

[kemche] 28/4/2022 15:07

Then ask yourself - ' I wonder what comes next'. Another clue: look at the 17 year history!

[kemche] 28/4/2022 15:06

A clue - read the forthcoming accounts very carefully for there may be a hint there!

[jlondon] 28/4/2022 15:05

Co-operation works wonders.

------------RRR ASSET REVIEW AND INTERIMS UPDATE, 24.3.22---RESEARCH TREE.

-------------WHY NO MENTION OF POW SHARES RRR OWNS ?--------
THAT'S IS A LOT OF $$$ GIVEN POW IS AROUND 1.7P TODAY.
45MILLION SHARES PER PROACTIVE INVESTOR IN SEP 2021.??


45 million POW SHARES X 1.7P TODAY, 28.4.22 = £ 7 . 6 5 MILLION VS
£4.5 MILLION RRR MKT CAP TODAY APPROX.

--------IS THERE STILL 45M POW SHARES RRR STILL HAS OR NO?----

[kemche] 28/4/2022 15:04

jlondon - now that you have discovered that the next bit of research should be along the lines of ' where the bleedin'ell has the bloody money gone?'.

[kemche] 28/4/2022 15:02

That's some nifty research jlondon. Kudos!

[jlondon] 28/4/2022 15:00

"Red Rock Resources plc Asset Review and Interims Update." -24 Mar 2022.
I have just called up the title with thanks via Research Tree.

Last line said, NO MATERIAL STAKE IN JUPITER MINES = 0? or not many which is NOT clear?

[kemche] 28/4/2022 14:55

The JMS parrot is dead. It is no more. 'E's not pinin'! 'E's passed on! This parrot is no more! He has ceased to be! 'E's expired and gone to meet 'is maker! 'E's a stiff! Bereft of life, 'e rests in peace! If you hadn't nailed 'im to the perch 'e'd be pushing up the daisies! 'Is metabolic processes are now 'istory! 'E's off the twig! 'E's kicked the bucket, 'e's shuffled off 'is mortal coil, run down the curtain and joined the bleedin' choir invisible!! THIS IS AN EX-PARROT!!

[kemche] 28/4/2022 14:53

The RNS issued on the 24th March 2022 entitled "Red Rock Resources plc Asset Review and Interims Update" and the very last line hoping no one would read it confirms it.

But I am just too lazy to read it.

[jlondon] 28/4/2022 14:50

5.87million Jupiter shares x 24.5 Aussie cents = A$1.43 Million.

Today, £1=A$1.76

Means A$1.43 Million divided by 1.76 = £812, 500.

That is IF there is still 5.87 Million shares that RRR own given the Proactive Article was dated Sep 2021.
---
MARKET SCREENER-JUPITER MINES
hxxps://www.marketscreener.com/quote/stock/JUPITER-MINES-LIMITED-7501376/company/ 28.4.22

Lowest shareholder owns 21 Million Jupiter shares.
RRR NOT listed given the holding is too small to report.

[kemche] 28/4/2022 14:26

RRR RETAINED 5,870, 693 shares in Jupiter Mines.---
--Currently, Jupiter Mines share price is 24.5 Aussie cents, $479 Million Mkt Cap.--


I am sure that is true as I am beyond reading. Cannot do it to save my life. Utterly incapable. Whilst still being an exemplary researcher. But that's just me.

Sheesh!

[jlondon] 28/4/2022 14:16

MAJOR SHAREHOLDERS OF POW:

[] Thor Mining 3.31%
[]Mohamed Zafar Quraishi 2.92%

[]RED ROCK RESOURCES 2.54% AT 37, 238, 752 shares.

---POW'S share price IS AROUND 1.7P, MKT CAP £25M---

So, RRR no longer holds 45m shares from the Proactive Investor's article of Sep 2021.

-------------IF RRR STILL HOLDS 37.238 MILLION SHARES TODAY-----------
AT 1.7P, MID PRICE = £6.29 Million. [NOT mark-to-market]
52 wk low for POW 1.08p and high 2.45p.

To check, type Red Rock Resources MAJOR SHAREHOLDERS.
One cant get the latest unless one checks the share register of POW which I am NOT privy to. So, kindly check and DYOR as no one knows how many POW shares RRR has today or placed on order to sell etc. Thur, 28 Apr 2022.

[kemche] 28/4/2022 14:16

'So, have to see how many shares still left from the above.'

I suspect they still retain all of them as I don't really read all the RNSes - especially the one issued on the 24th March 2022 entitled "Red Rock Resources plc Asset Review and Interims Update" and the very last line hoping no one would read it.

I have completely missed it. All together. Did not see a word.

[jlondon] 28/4/2022 14:05

Ref: "Red Rock Resources pockets £1.2m from selling down stake in Jupiter Mines."-Proactive Investors, 29 Sep 2021

RRR sold Jupiter Mines for A$2.33 million [Australian listed] at an average of Australian 30.4 cents. At the time of this article, Jupiter Mines shares were at 22.5c.

A/c to this article, --RRR RETAINED 5,870, 693 shares in Jupiter Mines.---
--Currently, Jupiter Mines share price is 24.5 Aussie cents, $479 Million Mkt Cap.--

[2] Article also mentioned POW shares that RRR owns at --45 MILLION POW SHARES.---

Link: hxxps://hotcopper.com.au/asx/jms/ [Jupiter Mines]

===Last financials Annual Report for 31 Dec 2021 issued in Feb 2022==
Interims expected today or tomorrow a/c to a poster here and on LSE RRR.
So, have to see how many shares still left from the above.

JUNO on ASX, share price 14.5cents with market cap $19.78m [dont know how many shares RRR owns at the momo]

[greenpastures2] 28/4/2022 10:49

Errors. On the low side I take it kemche.

[space_dust] 28/4/2022 08:17

Could not find the First Equity broker note on the Red Rock website but eventually found a link on this BB.

They offer a target price of 1.6p, some of the valuations look very modest compared to what Andrew Bell suggested on podcasts, for example they only put a £5m value to the gold project in Australia compared to Andrew Bell saying he hoped for £20m

Again it does look like the company is undervalued but what will be a catalyst to unlock that value.

The 1.6p target was before the legal claim in Congo btw, RRR have already won legals on a $5m claim.

[jlondon] 28/4/2022 00:24

LONDON SOUTH EAST RRR
Just read the forum. Its a pity that PJ may not be able to enter RRR as CEO
given he is busy at POW.

Even if PJ takes a 3% stake, many will may still NOT want to buy in as he is not in charge as CEO to re-structure ie sell, consolidate etc.

MERGER WITH POW
That may be more ideal. Yup, it will really cause tongues talking.

27.4.22 [Wed]
==
RRR is structured like an INVESTMENT VEHICLE.
So, its all the time, valued on the investments/assets that can be flogged.
Issue is here that if any new projects are taken on, it requires more $$$/funds.
Since no single asset is a producing one, then no income model.
Meanwhile, the cost of running an AIM co means either funds has to be raised or something sold.

So, continual running.

Hence, this model is not ideal as there is NO Tier 1 in the portfolio.
Hence, a restructuring is due and a new direction to clean up this investment type model.

[jlondon] 28/4/2022 00:07

m1sterx

Yes, the Kenya JORC of 723,000 ozs of gold is THE highest value asset.
In fact, First Equity attributes only £9.69 Million to RRR for this based on JORC.

As for value-in-the-ground of $25 is something Allenby quoted in a past report on Rock. For $25 to $50, one can take the mean.

Current market cap of RRR at £4.6m vs even £9.69m or £14m lowest quartile @$25 per ounce in the ground appears conservative.
---
2010
No of posts + no of posters discussing the co is currently on the quiet side. No one on Twitter is posting about RRR or more importantly, the stock "influencers" as they call themself or the American term furus.

Not surprised as many are not bean counters and depend on others to do the work for them by way of research.

If there is interest = VOLUME.

POINTS TO NOTE:
KENYA GOLD PROJECT, 723,000 OZ GOLD JORC
[] How does RRR extract value from KENYA?
Invite sale? Open data room?
[] JV like CGNR?
[] Start with tailings?
Needs TANGIBLE layout of plans.
Further upside? Drilling assays etc or updated JORC?


A.B
His analysis on RRR Twitter was good to show the period performance. A.B himself
said that the funding caused the decline post 420% performance [Jupiter period].

BLUE-SKY
Any blue sky projects:
[] DRC copper could be rather good given copper is now needed.
Ah, if they discover a Kamoa-Kakula grade which is east of the capital, then yeah, it would send it skywards. But unfortunately, no one has yet stumbled on another Kamoa-Kakula yet. RRR is in copper in the DRC.

[]Zimbabwe lithium
The licence near Acadia could be interesting.
If only they had 100% of the 2 licences.
If RRR was early in Zim, they may have got the licences 100% easily.

[]KENYA GOLD
Think A.B said they were near Tier 1 and hoping to find MULTI-OUNCE gold rather than 723,000 ounces?

Have to wait till gold is much higher and maybe gold fever may strike then.

[]PAUL JOHNSON FACTOR
Maybe, if Paul Johnson were to become the CEO, then RRR may just be on everyone's lips because one thing they know about PJ is he is essentially a bean counter and is "tight" on money management.

Needs change of sentiment.

In fact, RRR is much further ahead in terms of more tangible asset/s.

[m1sterx] 27/4/2022 21:33

jlondon

One thing that stood out to me reading the Red Rock bulletin boards back in 2010 was the significant interest at that time by activity (volume of posts) and the number of posters who used to discuss the company, at the moment there is no interest in Red Rock because of poor sentiment towards the sector and lack of meaningful news.

It appears the in ground value of gold ranges $25 to $50 for analyst valuation purposes, RRR has a JORC of 723,000 oz in Kenya, 'worth' £14m to £28m at current exchange rates, RRR has a m/cap of only £4.6m now.

The above is an example of how undervalued the company is just based on one project.

The Paul Johnson thesis of buying when the shares are despised and floored worked in the past so is now that time, maybe yes.

[jlondon] 27/4/2022 20:11

From RRR - MIKEI RESOURCE

totals 1.2 Moz gold JORC Indicated & Inferred over 5 areas within the Mikei shear zone.

MACALDER TAILINGS RESOURCE

Link: