Red Rock Resources Share Discussion Threads

[kemche] 08/1/2023 11:00

I think it will be highly successful.

GLA LTHers!

[mininglamp] 08/1/2023 09:09

It does look like Red Rock may be about to turn themselves into a producer in Q1, should see some revaluation of the company accordingly if all goes to plan.

[noirua] 08/1/2023 00:19

African Lithium Resources (Pvt), a subsidiary of Alternative Investment Market-listed Red Rock Resources, said it will be focusing on developing its recently acquired Tin Hill lithium resource in Bikita into a small-scale lithium operation beginning this month.
January 6, 2023


January 7, 2023

[valuestock] 07/1/2023 22:07

According to a voicemail on Telegram A.B. is heading back to DRC in the hope of getting the money owed finally sorted out. (next week I assume, I think that is when he goes to DRC) fxd.

[algernon2] 07/1/2023 12:36

Swifts Creek, looks a great place to visit.

[noirua] 07/1/2023 10:45

Victoria's New Gold Rush:

FIRSTAU Limited:

[noirua] 06/1/2023 23:56

Red Rock Resources needs a miracle at this point and just maybe it is on its way somewhere.

This share Ramelius Resources sank below 5c a share on the collapse in the gold price and quite shocking management decisions. It rose from what looked like a grave to $2.50 a 50 bagger not that many years later.


A song for us gamblers including directors and management for that's the way it goes.




There is now a need to drive on to success!

A more fitting song:
Driving us crazy -

Onwards from here. A 50-bagger is needed.

Markets may well now climb the wall of worry.

[algernon2] 06/1/2023 17:15

Interesting visual chart, Thanks,

[noirua] 06/1/2023 01:29

Could gold reach $US4000 in 2023?
5 January 2023
www.australianresourcesandinvestment.com.au/2023/01/05/could-gold-reach-us4000-in-2023/

[noirua] 05/1/2023 16:46

Soma Gold Announces Positive Preliminary Economic Assessment and Updated Mineral Resource for Colombian Projects
VANCOUVER, BC, Jan. 5, 2023


"Our development program at the Cordero Mine is well advanced with Cordero supplying the vast majority of the mineralized material for the Company's El Bagre Mill from 2023 onwards as our two legacy and lower-grade mines are phased out. As production at Cordero ramps up to planned levels of 680 tpd, it will also allow us to restart our currently idle El Limon mill. The results of the PEA support the attractive economics of our mining operations."

[Red Rock receives royalties for any gold production that goes through the El Limon mill.]

[noirua] 04/1/2023 10:46

The gold price moves above $1,850 quicker than I thought as gold shares firm up in the states and down under.

It looks as if DRC will take a backseat for a while at RRR as gold interests at Red Rock and Power Metal move to the fore. Both companies will move to a much stronger position as gold challenges the $2,000 level.

[noirua] 02/1/2023 10:10

Ah yes kemche, the pretense-theoretic formulation is ostensible to reverse deflationism indeed.

[kemche] 01/1/2023 12:47

And leave poor junior out of it - he is doing a fantastic job at CRCL and CZN.

[kemche] 01/1/2023 12:40

Tom, Why the volte face?
Has he stopped paying the bills?

[greekhovel] 01/1/2023 12:35

How the hell is Scott Kaintz worth £81k a year as a Non Exec - one useless cretin, yet another leech of the AIM market.

The fools that support Bell etc need their heads examining.

[noirua] 31/12/2022 17:15

From Red Rock accounts to June 30, 2022:
Overall Project costs etc., = £1,030,000
Made up of
Congo costs = £622,000 --- Other costs = £56,000 --- Kenya costs = £10,000
Greenland costs = £133,000 --- Other Project costs = £211,000
+ Staff Costs = £657,000 ( The number of employed people is 14 rising from 6 in the previous year ) making £1,687,000 for the year.

Director salary etc., costs
ARM Bell = £164,000 --- S Kaintz = £81,000 --- S.Quinn = £31,000 --- A Borrelli = £26,000

Owed to Kansai Mining Corporation and due but deferred until DRC payments are received = US$1,000,000

---------

Cash Raising including the sale of shares:
During the year, the Group disposed of its entire holding in Power Metals Resources plc, raising proceeds of GB£0.7m after transaction fees and it's entire holding in Jupiter Mines Ltd, raising proceeds of GBP1.9m after transaction fees. Proceeds from these disposals were used in full settlement of loans payable to Riverfort/YA drawn down in the prior year, totaling GB£962,758 as of 30 June 2021.

On 25 July 2022 and 19 August 2022 - issuance of GB£673,000 in new convertible loan notes. Convertible at 0.6 pence per share and each note holder was granted 83,333 warrants per note to subscribe to new ordinary shares at 0.8 pence per share. The notes attract a coupon of 12% pa and mature 12 months from issuance and may be convertible at any point prior to maturity.

On 21 September 2022, placed 40,000,000 new ordinary shares to institutional investors at 0.4 pence per share, raising gross proceeds of GB£160,000 before costs. Additionally, 20,000,000 warrants to subscribe to ordinary shares at 0.8 pence each for a period of 24 months were issued to placees.

On 15 December 2022, fundraising of US$500,000 by share issuance. Following this US$1,000,000 may be raised on a further share issuance.

-----

27 June 2022, Kimono Cobalt Project, US$50,000 paid and $25,000 per quarter due up to US$400,000. There is an acceleration clause to US$100,000.

6 July 2022, Under the terms of an agreement Balmaine was to transfer license EL 5535 to RRAL for an initial payment of A$20,000. Pending the successful renewal of the license for five additional years, RRAL has agreed to pay a further A$130,000 to the vendor. A further payment of A$350,000 was to be made upon the public release of a mineral resource estimate of no less than 100,000 ounces of gold in the inferred category as defined by the JORC code. Finally, a net smelter royalty of 1.5% is payable to the vendor up to a maximum total of A$1,500,000. Completion of the acquisition was announced on 22 September 2022.

May update further, thanks

[noirua] 30/12/2022 10:32

This looks a likely target Diversified Metals are likely to achieve as Red Rock needs $1.5m due to the present cash burn combined with a possible repayment of the CLNs this coming summer:

The average price paid by Diversified Metals would be 0.23916p a share if the whole of the $1.5 million is taken by Red Rock and $1,098,000 ( £900,000 ) is invested by Diversified Metals into RRR shares at 0.2p. At 0.3p 300,000,000 + 64,300,000 shares and the average price paid would be 0.3376p. At 0.4p 225,000,000 shares + 64,300,000 and the average price paid would be 0.42516p.

It is possible money will arrive from DRC though the waiting game may go on a fair bit yet. Arbitrators usually give companies up to 4 months to decide amongst themselves. Then it is usually placed with the Arbitrators to decide. It may be different in DRC though I doubt it.

So a gamble as to whether to buy at 0.28p to 0.32p and expect DRC Musonoi Area 1 money to be banked early on. Or to wait for an opportunity at 0.24p one might hope.

[kemche] 30/12/2022 09:00

My target remains at 17p.

[kemche] 30/12/2022 08:58

Diversified Metals will continue to buy to sub 0.2p.

GLA LTHers!

[noirua] 29/12/2022 15:39

Looking at the situation overall I have reduced my 2p - 3p estimate of future value in Red Rock to 1p - 1.4p.

The company has hopes of income from future royalties though not much will appear in 2023 - Soma Gold looks more interested in other projects and El Limon is progressing slowly.

Elephant Oil NASDAQ: ELEP is slow to IPO as they put it off each month.
However, the sector is not too bad so they should go for it in the first quarter of 2023. Thus helping the cash spending spree of the Red Rock's directors in going for glory in 2023.

DRC proceeds are proving more cumbersome to pocket. Still, even with a poor outcome $5 million should arrive, and $12m just maybe perhaps. So a likely saver in the making.

The NBGC IPO is very slow going with Aussie Gold shares near floor level despite the high gold price in Aussie terms.
Anyway, the gold price should improve as 2023 goes on and some confidence should increase in the sector. So an outside chance of a good IPO in the second half year for NBGC. If quoted on the ASX they will have to prove they have sufficient cash for 12 months and suffer scrutiny every 3 months.

Other holdings are thirsty for cash with no return assured by any means only hope and glory stuff.

The loans and CLNs are a concern. The CLNs come up for conversion or repayment midyear.

The market quoted family silver is all gone.
-----

Anyway, the gold price should improve as 2023 goes on and some confidence should increase in the sector. So a good IPO in the second half year for NBGC should bring in more cash for RRR in 2024.

[kemche] 29/12/2022 14:16

"We have sold our remaining holdings in Jupiter Mines Ltd and Juno Mines Ltd in Australia, as well as shares in Power Metal Resources Plc for total proceeds of approximately GBP2.54m during the period"

Good to know.

"As long as we can continue to increase the value of RRAL, we should endeavour to wait as in volatile markets (and the mining and exploration sector is always volatile) the difference between floating into a strong gold share market and floating into a poor one is so great."

So that's that then.

"Some Red Rock shareholders may regret that we have not already listed, as we had indicated that this was likely to happen, but our aim is to secure the best eventual outcome for Red Rock stakeholders, not the quickest, and we and our partners believe we have our finger on the pulse of the market and have made the right decisions."

Oh just stop it you kidder!

"The nature of Red Rock's business currently, as a company not generating revenue from operations, means that profit and loss is a metric of less utility than in many other businesses."

You're killing me!

"Pre-tax loss for the year ended 30 June 2022 was GBP2,800,000"

The sheer metrics of it all!

"Going Concern

It is the prime responsibility of the Board to ensure the Company and the Group remains a going concern. At 30 June 2022, the Group had cash and cash equivalents of GBP0.066 million and GBP1.864 million of borrowings and, as at 22 December 2022, the cash balance was cGBP400,000. The Directors anticipate having to raise additional funding over the course of the financial year."

I'm shocked!

[noirua] 29/12/2022 13:39

Well, the Final Results are out in the very long RNS. All the information before the results changes very little and is only about 1% on the positive side as the DRC Arbitration situation is slightly more negative and confusing as to why each side has to sign when surely the Arbitrators should impose their decision. Business in DRC is exceedingly wobbly it appears.