Red Rock Resources Share Discussion Threads

[alannlane] 11/5/2022 01:06

Noirua...boring dystopian repeats for the umpteenth time. change the record.

[noirua] 11/5/2022 00:31

Andrew Bell began his career as a natural resources analyst at Morgan Grenfell & Co. in the 1970s. His business experience encompasses periods in fund management and advisory work at leading financial institutions, international corporate finance work and private equity.

Andrew Bell’s listed company directorships are Regency Mines plc (Executive Chairman), Greatland Gold plc (Non-Executive Chairman) and Jupiter Mines Limited (Non-Executive Director). Andrew Bell is also a former Director of Star Striker Limited, listed on ASX.


Steelmin eventually went bust. Over £1 million was also put in late and was all lost.

Virtually all of the Jupiter Mines shares are now sold.

Shoats Creek was discontinued as Mayan withdrew and all was lost.

All the Congo tailings came to nothing. The cobalt price later collapsed and became out of favour in the Congo.

Colombian Gold was sold off and little of the royalties yet received.

Regency Mines shares collapsed and AB no longer a direcor and name changed to Corcell.

---

Prior to this video Melville in Greenland came to nothing with big losses. Since then considerable reparation costs have been paid every year.

---

I still remain a shareholder in hopes something will turn out well - accepting I'm one of the few since 2016 who has done well. At the same time I respect those making considerable losses of over 95% in some cases - maybe many.

My view these day is that it is best to accept high risks in microcap mining explorers and accept that near all directors are there to feather their nest first.

After that also accepting that no mining explorer on AIM has ever paid a dividend. AB seemed to look forward to that happening at Red Rock several years ago on video - HE FAILED. Or just maybe, I don't know, AB's comments were an aspiration, not a promise.

[jlondon] 11/5/2022 00:25

"Chinese miners and battery makers team up in RUSH for LITHIUM."-Bloomberg, 9 hrs ago, Tues, 10 May 2022.

"Lithium jumped by more than 400% in China, UNNERVING BEIJING & SPARKING a FLURRY of DEALS from Argentine to Z I M B A B W E.

Battery manufacturers are RUSHING to SECURE SUPPLIES of lithium...as EV demand pushes PRICES HIGHER.

In Z I M B A B W E, Chengxin Lithium and Sinomine Resource Group are SETTING UP
a JOINT VENTURE to E X P L O R E for the metal in Z I M B A B W E .

Chinese mining giant, Tianqui Lithium Corp is teaming up with battery maker CALB."


[To read and check, just call up the title.]

Comment:
LoL, not only are they rushing to secure supplies of lithium but Chengxin and Sinomine are now setting a JV to ==wait for it====E X P L O R E===for the metal.

I just absolutely love it - so obviously Bell has ears on the ground that Zimbabwe is the place to be at this moment if the Chinese majors/others are rushing there.
Bell said this in his interview which I listened to, again to Proactive at the time of this acquisition and the rationale.

----------I am posting because this completes the RRR recent RNS of
the co obtaining LICENCES near BIKITA & ACTURUS [in the area wherein the Acadia lithim project sold to Huoyou for US$422m is in Acturus and in the veld near Acturus gold mine.]

It must be occurring to the big Chinese players to get in on obtaining licenses and exploring. NO WONDER why Zimbabwe press which I posted before said those with licences are selling at "massive profits." No wonder if this news from Bloomberg has just come out. So, those with licences could sell them on technically if they wanted to. Hence, why I said I was puzzled that American High Net investors also have joined the lithium rush in Zimbabwe by taking 10% of the project from RRR who has 75%. Bell said he was seeking American JV partners so maybe in the days to come, the backers are Americans as well and not just American High Net worth investors?

--------To this end, Bell would probably get better value if he spun this
Zimbabwe licences [2] + further ones he is applying for per the said RRR RNS into a IPO VEHICLE. That way, it would attract more investors who are interested in pure lithium plays. With a separate IPO, the CEO will have to seek capital markets
to cover the drilling.

---AWAIT ASSAY RESULTS FROM RRR re: Zimbabwe as Bell said that he will release them only once the licences have been granted and the reason appears obvious.-----

I know that everyone ie shareholders are interested that RRR is in a hot sector with Zimbabwe lithium is Bloomberg news just out. NO LONGER JUST LOCAL ZIMBABWE NEWS outlet but with Bloomberg, it has wide/r coverage in the financial world.

J.London, Tues, 10 May 2022.

[kemche] 11/5/2022 00:20

My god! Two now.

It's an indictment of the English education system.

[alannlane] 10/5/2022 23:26

Well said...perhaps noirua would like to make an apology for accusing others on this board of issuing misinformation?

[jlondon] 10/5/2022 22:45

The dichotomy between saying something and what has been stated
in a "INTERIM RESULTS RNS , 29 APR 2022" via regulatory news [RNS] submitted to the London Stock Exchange is an entirely different matter.

Herein, is Musonoi, Copper-Cobalt project, DRC which is classed as an
"ASSET" in the Balance Sheet of Red Rock Resources must be accounted for so that
any substantive info relating to this asset must be reported to shareholders.

Mr Bell followed up the Interim Results RNS of 29 Apr 2022 with an interview with Proactive Investors on the same day to provide further elucidation of the said matter of this asset. He mentions lawyers which would be taken to mean the co's lawyers.

I am sure that any further updates will come also via RNS's.

So, this matter now closes as many of us have given the link to Mr Bell's said interview wherein he mentioned how the $250m came about relating to this said asset
and the other $5m +$15m claims. The co has already WON 2 COURT CASES IN THE CONGO on this matter but the further matter of the $250m could be taken outside the Congo if the co is able to further this?

I hope that the poster who raised this matter will treat fellow shareholders as a community rather than to think it is not correct given he/she has not been
listening to the said interview or reading RRR'S RNS's - this is said with due respect. All shareholders good names have been upheld as 2mex, myself have provided irrefutable evidence from the said interview link and RNS ie Interims Results, both of 29 Apr 2022, the latter of which mentioned this said asset ie Musonoi, DRC [copper cobalt project].

With that, this matter closes. IT IS GOING TO MAKE A BIG DIFFERENCE IF THE MATTER OF THIS ASSET CAN BE RESOLVED AND SETTLED, initially relating to the $5m +$15m of which Mr Bell will go to the Congo to resolve this matter if he can.

J.London, Tues, 10 May 2022.
---CREDIT IS DUE TO MR BELL FOR THIS ASSET AT MUSONI Copper-Cobalt project, DRC which is now sitting in an international co at at such a said SUBSTANTIVE $$$? How many AIM co's with £5m + market cap can say they have such an asset that far surpasses even the Kun Marie sale of US$105m which was via an RNS [nickel in Russia].? Also, Red Rock Resources owns 50.1% of the JV and even then, the sums are
so substantial ? What more if this asset was offered for officially , like the Kun Marie which means it has to be INDEPENDENTLY VALUED AT FAIR VALUE as said?

[kemche] 10/5/2022 21:36

He has said many a thing over decades - all of them verbatim. All have come to nowt. Why exactly is it different this time?

43rd January 1812

[jlondon] 10/5/2022 21:29

2mex 10 May 2022 #12371

Verbatim from the Andrew Bell, Chairman, Red Rock Resources interview with Proactive Investors, 29 Apr 2022. [RRR RNS 29 Apr 2022 Interims]
2mex gave the link. 2mex quoted and typed out the verbatim relating to Congo litigation etc [re: Musconoi].

Very clear.

Absolutely fabulous. Thank you to you and grimpreaper.

[kemche] 10/5/2022 21:12

The wallop of cod.
Unadulterated.

38 November 2026

[2mex] 10/5/2022 21:04

So, it is clear to me that the $250 million figure was not fabricated.

However, Andrew stated that he believed part of the $250 million belonged to Red Rock.

In my opinion that means potentially the 50.1% which was wrongfully bought and flipped.

[2mex] 10/5/2022 21:03

Jlondon, here is the full statement:



Andrew Bell, 29Apr2022

Q. "..tell us what you have been up to?"

Andrew:
"Well, obviously getting the progress of the litigation in Congo - that was essential to progress because of our partner there. Although we have 50.1% of the project, our partner purported to sell back to the parastatal mining company for $20 million the assets that we were in joint venture on."

"and then it was flipped to a major international mining company. Now the fact that this agreement was kept secret until the deal with the major international mining company was done, upon which the money flowed through, or began to flow through, shows that to some extent this was a pre-arranged (what you might call a pre-pack) and the fact that the lawyers of our partner then threatened the parastatal and said "we hold YOU and the major international mining company responsible because you haven't paid everything yet" shows that there was, in our view, a conspiracy."

"So we are going after the Congolese end first, where the $20 million sum is involved."

"but it was flipped for $250 million so we consider that a large part of that value also belongs to us - but we will address that outside the Congo later."

"but we have won all the cases in the Congo and we have established that 50.1% of the first $5 million that was actually paid is due to us plus $2 million in damages."

"The $15 million has been hung on to by the parastatal - which is, however, ready to pay it when they know who they should pay it to and I have to fly out there and sit down with everybody to ensure we get our 50% of that, although for some of it we may say 'actually we don't want everything in cash, we are committed to the Congo. We just want part to be recompensed with licences of equal quality to those that we were unable to progress with - which have turned out to be worth so much."

[jlondon] 10/5/2022 20:39

Thanks to 2mex, Tues, 10 May 2022 at 20:29. ADVFN post#12367

Quote:
"However, <>J.London's link to Proactive with Andrew Bell states:

1 min 57 secs: "IT WAS FLIPPED FOR $250M SO WE CONSIDER THAT A LARGE PART OF THAT
V A L U E ALSO BELONGS TO US BUT WE WILL ADDRESS THAT OUTSIDE THE CONGO LATER."

---------------PROOF AND EVIDENCE THAT IT WAS MR ANDREW BELL , CHAIRMAN OF
RED ROCK RESOURCES WHO STATED IT HIMSELF IN AN INTERVIEW WITH PROACTIVE ON 29 APR 2022 AFTER THE RED ROCK RESOURCES RNS, INTERIMS, 29 APR 2022 CAME OUT.-------
Link provided and thanks to 2mex who is good at listening and quoting verbatim from
Mr Bell himself.

Thanks 2mex for the verbatim from the Bukina Faso interview also.

[jlondon] 10/5/2022 20:30

2mex 10 May 2022. ADVFN post #12367
Answer to Noirua.

2mex - thanks for quoting vebatim from the Red Rock Resources Interim RNS, 29 Apr 2022
stating about "Award of $4.5m plus costs, claims to a substantial part of the unpaid consideration of $15m. We also believe we have a legitimate interest in the on-sale of those assets at a very large mark-up, the PURSUIT of which we are currently contemplate."

I am reposting in case there are further enquiries about this matter and to cover all shareholders who listened to Andrew Bell, Chairman of Red Rock Resources on 29 Apr 2022 post Red Rock Resources RNS re: Interim Results.

--------------Relates to Red Rock Resources and MUSONOI, DRC COPPER/COBALT-------

[noirua] 10/5/2022 20:29

Some have mentioned Article IV of the treaty of Rome concerning the $250 million. Below shows this is total nonsense.

Article 4 - Prohibition of torture and inhuman or degrading treatment or punishment

[2mex] 10/5/2022 20:22

Noira, yes its fair to say that readers should refer to the regulated news.

The half-yearly report, 29Apr2022 states:

"Awards of $4.5m plus costs"

"claims to a substantial part of the unpaid consideration of $15m"

"We also believe we have a legitimate interest in the on-sale of those assets at a very large mark-up, the pursuit of which we currently contemplate."

HOWEVER Jlondon's link to the Proactive talk with Andrew Bell states:



Andrew Bell, 29Apr2022

1 min 57 sec in: "..It was flipped for $250 million so we consider that a large part of that value also belongs to us but we will address that outside the Congo later.."

[jlondon] 10/5/2022 20:17

Noirua 10 May 2022 @20:04
ADVFN Post #12365:
"Should any newcomer visit this thread please note that all posts mentioning a claim
for $250m by Red Rock Resources are a complete fabrication and lies. If in doubt please phone the office of Red Rock Resources PLC. The details are at


Those posting should remember that they are responsible for their post even if the info is taken from another source especially if a person is mislead."

========VERBATIM FROM ANDREW BELL, CHAIRMAN OF RED ROCK RESOURCES TO
Katie Pilbeam, Proactive Investors INTERVIEW, 29 April 2022 at 3:36pm===

"Tweet by Proactive Investors: Red Rock Resources Andrew Bell discusses the co's many irons in the fire." -29 Apr 2022.

EVIDENCE TO Link :

This is the same day, Red Rock Resources issued their Interims RNS, 29 Apr 2022.


====ANDREW BELL: "FIT FOR $250M OUTSIDE CONGO" and he mentions international co.
This relates to litigation re: MUSONOI , DRC. Mr Bell mentions going to Congo
relating to this matter and said "EQUAL LICENCE/split properties."=====

--------EVERYONE HEARD IT THEMSELVES AND EVERYONE THAT HEARD IT IS QUOTING FROM
THIS INTERVIEW FROM THE CHAIRMAN OF RED ROCK RESOURCES, ANDREW BELL HIMSELF --------

Good thing I decided to check.

[noirua] 10/5/2022 20:04

Should any newcomer or visitor read this thread please note that all posts mentioning a claim for $250 million by Red Rock Resources are a complete fabrication. If in doubt please phone/contact the office of Red Rock Resources PLC. The details are at

Those posting should remember that they are responsible for their post even if information is taken from another source. Especially if a person is mislead.

--
Some have mentioned Article 4 of the treaty of Rome concerning the $250 million. Below shows this is total nonsense.

Article 4 - Prohibition of torture and inhuman or degrading treatment or punishment

[2mex] 10/5/2022 18:23

Jlondon,

here's something to get your teeth into.. (thanks for your all your hard work, appreciated)



Ali Barro, 10May2022

Bilbale Licence in Burkina Faso

Q. "..So, is that gold in the country rock as well just in veins?"

Ali: "They find gold in country rocks but they focus on the vein because that is easier to track.. and I was there - I have some videos where they were washing it and showing me gold."

Q. "..and some they were getting from laterites as well?"

Ali: "Yes, up to 1 metre deep and where it was 1 metre deep most of the time that's exploited by woman so I have also got a video of that so its maybe at least 500 metres long and 200 metres wide with lots of children..women - its just the activity that they do."

Q. "So the implication of that "kalufium?" is that the gold is washed there but from some nearby source?

Ali: "Yes"

Q. "nearby hard rock source?"

Ali: "Yes"

Q. "So given that we've got quite a large licence there, the source would be within the licence?

Ali: "Absolutely"

Q. "and the structures going through the licence, as you say, with multiple structures going through the licence and meeting and being compressed and pinched in the middle, then opening out again..and so you think that the geo-physics is going to be incredibly important?

Ali: "Its going to be very, very important and highly recommended"

Q. "and your overall assessment of that licence?"

Ali: "Definitely..there is something. How big it is.. that's what we need to assess."
Ali Barro, Data Manager, is a Senior Geologist and Database Manager with the Red Rock group with more than 15 years of experience. He has managed several exploration projects in Burkina Faso, Ghana, Mali, Niger and Senegal.

100% Faso Greenstone owned by Red Rock exploring highly prospective gold region

* Two licenses held covering 348 sq km of highly prospective gold ground

* Major structures and shears; artisanal gold production

* Experienced team includes geologists involved in discovery of over 5m oz of gold in Burkina Faso

[grimreaper2019] 10/5/2022 17:53

Well if nothing else jlondon is to be commended for his hard work, one interesting post on LSE from Helpful (who appears to have links to the major shareholders and the Co)

This post from Helpful suggests that Bell may come back from the Congo with some cash - it appears that if the JV partner (who took $5m of which $2.5m + $2m in damages is owed to RRR) will not or cannot pay RRR Bell could get the cash via the JV partner bank.


Here is the post...


Three elements:

1. The $5mil damages. That has been awarded and is now executable. It can be pursued against VUP or the bank.

2. The $15mil is at Gecamines. The legal position as has been proved is that 50.1% belongs to RRR. AB is going out to dot the i's and cross the t's. Bottom line is Gecamines will pay once RRR and VUP have agree their respective positions.

3. The $250mil+ claim. That might take a while and nothing will happen on it till 1 & 2 are sorted. The steps are clear. Article IV of the Treaty of Rome applies.

The three actions are separate and distinct.

DYOR

[jlondon] 10/5/2022 17:52

"Amur Minerals" #AMC RNS, 6 May 2022:
"PROPOSED SALE OF KUN MARIE PROJECT."

"Sold total consideration US$105 million to be completed in a series of payments.

The divesture price represents a premium of 22% of the co's mkt cap of 5 May 2022 [£26.2m] & 330% of the CURRENT Kun Mari BOOK VALUE of $24.4m as at 30 June 2021 in Amur INTERIMS financials.

The closing price on 5 May 2022 was 1.91p per share.

A FAIR MARKET V A L U E was derived by Medea Natural Resources with a range from U$106m to US $131 million based on AN ASSESSMENT of INTERNATIONAL TRANSACTIONS for SIMILAR SIZED NICKEL equivalent projects.

Given current volatile mkt conditions & that the project is located WITHIN RUSSIA, the transaction falls at the LOWER LIMIT of the INDEPENDENT DERIVED FMV."

Note:
[1] All assets eg nickel when sold [or in this case an offer made to Amur], it must go for INDEPENDENT VALUATION to determine "FAIR VALUE."

[2] Amur mentions "BOOK VALUE" of $24.4m as at 30.6.21 in Amur's interim financials.

[3]Prices are always within a SHORT RANGE ie US$106m to US$131m and it explains mkt volatility and country risk ie within Russia means, LOWER RANGE was offered at US$106m.

Comment:
Why am I posting about Amur when this is RRR. It is important to provide back-up for one says ie VALUE/VALUATION.

[1] Look at RRR INTERIMS of 29 Apr 2022 - there are 2 figures for ASSETS[EXPLORATION] at £13m and £17m [split]. RRR does NOT give breakdown so this is an important figure to keep in mind. One also has to deduce the smallish debt.

[2] Fair value always means that it has to be sent to be VALUED vs SIMILAR PROJECTS and to derive value. Hence,why I mention RRR-Juno Mt Ida vs other major iron ore deposits to see how big is Juno's potential Tier 1 and others.

-------------So, hope it helps in order that any investor of RRR
may also use this same method to assess RRR's suite of exploration-assets-deposits with clarity and to know if they are going to be JV'ed, sold or how to obtain value. Every RRR RNS can then be scrutinised for this. Questions can be put to Mr Bell via the AGM or email so that one can get clarification. Applies to all co's as if one doesnt ask, then one will not know.

--In the end, ONLY THE ASSET VALUE MATTERS [Book Value in the financials under assets] vs INTERNATIONAL asset sale/s in that commodity and similar size.---
===THAT IS THE EXIT STRATEGY ONE IS LOOKING FOR & PROVIDES SOME UNDERPIN?
For this reason, I extracted values of the RRR assets, NOT ONLY BOOK VALUE [no breakdown] but also from SI Capital, Edison and Align Research for "value/valuation" to get an idea of value of EACH asset.---


Hope to drop by as and when Mr Bell surprises us investors with a sale of which one can hope for given he said he can always sell something instead of doing the normal type funding or placing. I gather the big shareholders dont want funding this way so maybe they too want sales or divesture etc. AMUR will now become a SHELL after the sale of their main project, the KUN MARIE. I believe they have x months to look for another project etc to remain listed. RRR doesnt have that issue as it has many projects and is therefore NOT selling their only 1 main asset.

With thanks. J.London Tues, 10 May 2022. Not editing as have to have dinner.

[alannlane] 10/5/2022 17:13

kemche is now in complete unhinged mode. Amazing what a little research can do!
Thanks jlondon for your hard work.

[kemche] 10/5/2022 16:31

Utter nonsense. Buffoonery of the highest order.
Up the dosage.

64th June 1936 16:31

[jlondon] 10/5/2022 16:27

P.S.

I am NOT a large holder of RRR shares.

However, I understand from Share Prophets via a Twitter article that at the last AGM, Andrew Bell was voted in on a "LAND-SLIDE."

I would assume that large shareholders of RRR are nuanced about money and therefore they also must be cognisant that the asset that should not be sneezed at is the MT IDA ROYALTY of US$11m to come. So, RRR has to merely be present till that time of Mt Ida either sold or go into production. Some AIM investment co's have little assets eg PRIM with only GGP shares in the main of value. So, these can run on minimum listing cost.
Clarity should be forthcoming as soon as Mr Bell returns from the Congo, hopefully shortly.

By the way, there is a distinct difference between BROKER TARGETS which I did NOT quote. I quoted VALUATION for 1 or 2 of the assets. If one has a Rolex watch say at home, it needs a "Valuation" done in order to insure it.
So, too with some of the assets that RRR has esp. CONGO. Musoni is believed to have been SOLD ON for US$250m. On the other forum, one poster said that the if it is found that it was SOLD UNDER MARKET VALUE kinda of thing, then PUNITIVE DAMAGES could come in. So, there is VALUE VIA PRICE DISCOVERY - IN THIS CASE, MUSONOI SOLD FOR US$250M
IF CORRECT + $5+$15m!! ONLY A TIER 1 CAN FETCH SUCH PRICES as norm!! Asked about broker note so every asset is VALUED, RRR BALANCE SHEET SHOWS THIS AS SUCH.

J.London, Tues, 10 May 2022.