Red Rock Resources Share Discussion Threads

[noirua] 29/4/2022 08:13

Half Year Report to 31 December 2021:

24 March 2022:

Annual Report to 30 June 2021:

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At first glance the Half Year report shows that Greenland reparation costs continued at £61K. Lack of interest receivables shows that Red Rock has given up its remaining shares in Jupiter Mines against the large long term loan book rather than paying off the loans.

Red Rock appear disappointed at the delay in the IPO of Elephant Oil Corporation.

The IPO of NBGC is purely in the hands of Chairman Andrew Bell. Planning a date for the IPO is difficult with the gold price moving about and gold shares still under the cosh.

Kenya seem not to be advancing well with assay delays.

Musonoi is the main likely income earner in the future. AB remains confident it seems though the time factor is uncertain.

View: The Half Year results appear rather drab. The loan book seems under full control though cash from the Musonoi asset is needed. The NBGC IPO looks uncertain and the EOC IPO disappointing so far. Looks to be a fairly honest set of results and opinions and marginally better than neutral.

Thoughts: As the US$ and AU$ have strengthened by 10% to 13% against the GB£ the Australian assets and royalties have risen in convertible value as to have the royalties in US$s from El LImon and the 4% interest in EOC.

[jlondon] 28/4/2022 23:53

LONDON SOUTH EAST, THUR, 28 APR 2022 AT 22:38:

"I dont fall in love with shares. I buy and have never held for more than 2-3 years.

IMO something will happen on

1. MIGORI/KENYA.

2. Iron ore project forward with big payment to RRR.

3. Litigation settlement.

IMO Elephant Oil will create positive news but IMO not a game changer.

NB: Item 1 and 2 and 3 are LONG TERM EVENTS , 2-3 YEARS, SOONER WOULD BE NICE."

[I am not the poster]
---
27 Apr 2022 [Wed] at 20:38
"I AM A RECENT OWNER OF RRR..."
By the same poster on London South East , RRR forum.

==LOL, I POSTED ON 22:22/25, Thur, 28 Apr 2022 BEFORE the above poster and a bit earlier and deduced from research that RRR MIGORI, LITIGATION [DRC] are the potential big ticket items.

However, I was not cognisant of the iron ore - I will check on the ASX for more on this via RNS/ANN.

[jlondon] 28/4/2022 23:25

RRR share price went up today to 0.39p, Mkt Cap £4.7m.

Lowest ever from Google Finance is 0.31p ?

First Equity said RRR went from 1p to 20p = 20x.

Paul Johnson, who had very little capital [he said so again today on Twitter, 28.4.22] came into RRR at 2p and sold at 17p during the time of the JUPITER MINE event.

Cant think P.Johnson will not want to try a 2nd time-human nature given the share price of RRR and Misouni, DRC and 2 more licences + all the other projects which are already advanced to JORC [Kenya -Migori Gold] etc.

J.London, Thur, 28 Apr 2022.
RRR 0.39p, Mkt Cap £4.7m.
RRR holdings in POW, 25m @1.7p today = £4.25m -have to see interims tomorrow as to how many shares left.

[jlondon] 28/4/2022 23:22

RED ROCK RESOURCES:
Has set up SUBSIDIARIES in:
B U K I N I F A S O.
C O T E D* I V O I R E.

RRR DRC
Also looking into LITHIUM.
One of the very big lithium deposits is MONOLO, AVZ [ASX listed]into $billion mkt cap.
Not in production yet but has 2 cornerstone investors including SUZHOU.

RRR ZIMBABWE
2 licences applied for NEAR ACADIA [sold to Chinese for US$422m, not in production]
and BIKITA mine - LITHIUM.

RRR has the results but will release them when they get the licences.


--------------LITHIUM IS CURRENTLY IN VOGUE WITH SPODUMENE PRICES PER
PILBARA AUCTION ON 27.4.22 AT US$5,750 PER TONNE SPOT SPODUMENE.-------
Prem's cost is US$800 per tonne. Elon Musk says profit margins are like tech software and Elon's Tesla is looking to get into lithium as the prices, he said is "INSANE."



-------------HATE TO SAY THIS BUT RRR'S ASSETS EG DRC [3], KENYA JORC GOLD 723K,
POW SHARES OF 25M [1.7p POW share price today of £4.25 Million vs RRR Mkt Cap of £4.7m @0.39p underpinns the mkt cap], El Limon Royalty, etc are FAR MORE ADVANCED than
POW starting out on early discovery projects but their MKT CAP is around £25m.

Hence, I said PJ must be interested in the 2nd ROUND - 1st round PJ made his fortune of £900k to £1m from RRR when it went from 2p to 17p [First Equity said that RRR went from 1p to 20p].

GLEN appears to want MUSONI, DRI [RRR 50.1%] and majors dont want tinni weeny projects. RRR CONSULTANT GEO'S STATED IN-SITU VALUE IN THE GROUND OF MUSONI, DRC IS US $ 1 2 5 BILLION which few co's can attain to.

FIRST TIME, BEST LOCATION MANGANESE = JUPITER MINES [RRR share price 1P TO 20P]
2ND TIME, BEST LOCATION COPPER/COBALT, DRC= MUSONI, DRC JV.
[From A.Bell, CEO in a 2018 Interview with PROACTIVE INVESTORS AT START OF JV.
EVEN THEN, HE KNEW AS ITS WAS IN THE BEST LOCATION AMONG 7 MAJORS WITH MAJOR DEPOSITS IN DRC INCLUDING IVANHOE'S KAMOA-KAKULA, WORLD CLASS TIER 1, DRC.
BHP in early talks to buy Western Foreland, next to Kamoa-Kakula, also from Ivanhoe.

----------HISTORY PROVED A.BELL RIGHT: HENCE LATER MUSONI, DRC JV
TAKEN BY G, NOW RRR HAS WON ROUND 2 O THE LITIGATION.---

[space_dust] 28/4/2022 23:11

I took another 200,000 shares today, I do believe (hope) I am getting in at the bottom rung.

A 9 fold rise that happened in 2010 would do nicely !!!

[jlondon] 28/4/2022 23:05

Cash per Annual Report : £500k [inc Juno].
Debt: £600k.
Answer.

MORE IMPORTANT: LOOK AT "GOING CONCERN" STATEMENT.
Should be NOTHING from auditor about going concern issue as per AR dated 30.12.21 issued in Feb 2022. This is important as it means that if there is no issue with going concern, the co has impliedly by theory, 12 MONTHS runway.

[kemche] 28/4/2022 22:24

Also try to find the line that reads Cash and then compare it to current liabilities, cashflow and loss for the period. Always a good exercise to perform by any prospective investor.

[kemche] 28/4/2022 22:22

In tomorrow's accounts go straight to the balance sheet and search for a line that reads "cumulative losses". Always a good exercise to perform by any prospective investor.

[kemche] 28/4/2022 22:21

jlondon, it would also be worthwhile to listen to ALL that Bell has said over his tenure and compare that to what he has delivered. Always a good exercise to perform by any prospective investor.

[m1sterx] 28/4/2022 21:37

You have to ask why the larger shareholders in Red Rock decided to keep Bell as opposed to voting him out at the AGM.

Most of these large shareholders, they own about 40% of RRR, have paid at least 2 or 3 times the current share price.

I also read the claim in the Congo could amount to $100m+ but in the meantime the initial award of $5m would do nicely.

IPO's of Elephant Oil, Ballarat Gold and a cash payment from Congo could hit the market at any time.

[jlondon] 28/4/2022 21:10

RRR has 3 licences in DRC for Copper/Cobalt:

[1] Musoni
"In-situ value in the ground US$ 1 2 5 BILLION."

Ref: Current RRR DRC JV details on website, DRC VUP JV - Musoni,


This licence is near KOLWEZI, DRC [60% of globe's cobalt comes from DRC and 50% from areas near KOLWEZI. The legendary KAMOA-KAKULA [ROBERT FRIEDMAN FAME] is also on the way to the KOWEZI airport.

[2] RRR has 2 MORE LICENCES, DRC :
[a] South of LUMBUBASHI
[b] Nearer LUMBUBASHI, capital of DRC ===DRILLING & FURTHER ASSAYS DUE.

KOLWEZI IS WEST OF LUMBUBASHI and a bit north if KOLWEZI.

POW has licences but unfortunately EAST of Lumbubashi, capital of DRC.

[miningcamp, ADVFN poster said that someone close to the biggest shareholder of RRR reckons conservative $100-$500m compensation [US$125 Billion in ground situ = 1-5% as norm].

[jlondon] 28/4/2022 18:16

m1sterx, Thur, 28 Apr 2022 16:13pm. #12186
"Without doubt Red Rock has a number of potential "EVENTS" which could deliver significant value from current levels."-"sector bottom.
--
[]Elephant Oil IPO to come.
[]POW shares of 25m @1.7p= £4.25m vs £4.5m RRR mkt cap, Thur, 28.4.22
[]Red Rock Australiasia 50.1% -Ballarat Gold IPO to come.
[] KENYA Gold. JORC 723,000oz gold. [Mikei]

[]El Limon Royalty.
[]DRC - 2 projects.
[]Faso [Bukini]
[] ZIMBABWE LITHIUM -licence near Bikita mine and ACADIA [sold to Chinese for US$422m].

So, tommorow, maybe the interims will shed more light on the above and further to
the Sep 2021 First Equity Broker Note.
--
Comment:
In recent times, Barrick Gold sold its Kenya gold project to Shanta. Havent looked into this in detail but there is M & A in Kenya.

ANDREW BELL
He said of the RRR DRC project [50.1%] that such projects can take a co out of small co status. This is the litigation case wherein VUP sold their 49.9% stake.

The Jupiter Mines stake has been sold given their mkt cap is around A$450-470 Million. Their share price appears to have peaked.

In a seperate post I will post what I have found out.

[kemche] 28/4/2022 16:21

"Red Rock have not said what the proceeds were for the last lot of Jupiter Mines' shares sold."

I wonder what it could be for! A mystery for certain. Flummoxed if I know.

[m1sterx] 28/4/2022 16:13

Someone new has appeared on the RRR bulletin board over at LSE, the posting style is very similar to that of Paul Johnson, making the point about buying the bottom of the market etc.

Without doubt Red Rock has a number of potential 'events' which could deliver significant value from current levels.

Buying the apparent sector bottom can be very rewarding.

[noirua] 28/4/2022 16:09

RRR's Juno Minerals shareholding at 1,216,108 shares is now worth £101,000 at 14c.

[noirua] 28/4/2022 15:58

Power Metal - Red Rock have already converted and then sold the warrants. The exact profit has not been announced but was around £270,000 - a good investment as it turned out.

[noirua] 28/4/2022 15:56

kemche - 21 Apr 2022 - 20:19:26 - 12126 of 12183 RED ROCK RESOURCES PLC - Information Thread - RRR
"The Company no longer holds a material investment in Jupiter Mines."



Under "Other" - the very last paragraph hoping no one would notice (with some success I see - even when told numerous times).

------------------

Red Rock have not said what the proceeds were for the last lot of Jupiter Mines' shares sold.

[jlondon] 28/4/2022 15:24

Read Align Research report on RRR dated 2018 on Jupiter Mines.

Said that RRR went from 1p to 20p.

Paul Johnson was supposed to have bought 2p to 17p.

Ah, those were the days.

[jlondon] 28/4/2022 15:23

RRR on their website "RRR POWER METAL RESOURCES."

RRR says they have 25 MILLION POW SHARES & 25M WARRANTS.

No date but this is the project page.

25m x 1.7p = £4.25 Million [from the original 45m, down to 37m, now 25m]

That is if its current ie up to date as at Thur, 28 Apr 2022.

WARRANTS
No details about the conversion price NOR how many if left.

--------------

[kemche] 28/4/2022 15:17

Here's a clue: