Red Rock Resources Share Discussion Threads

[noirua] 09/2/2023 11:36

There seems to be quite a lot of supposed news going the rounds and only AB knows the real truth and may be having questions thrown at him, he knows by now how anything he says can be misinterpreted or worse. Clever questioners can even make something out of no answer at all.

All I do know is Elephant Oil finally looks set to IPO tomorrow half an hour after the AGM starts.

What I do not know is if Diversified is going to loan a further $500K to Red Rock imminently or not. Also if there is any useful update on DRC negotiations.

Will there be an RNS tomorrow morning? I haven't got a clue!

[kemche] 09/2/2023 10:32

That is huuuge news!
No stock available. All sold out.
GLA LTHers!

[broken_arrow1] 09/2/2023 09:45

Large move in the offer not shown yet, large premium being asked (.39p) for only £900 of shares.

According to LSE The CEO & Exec Chairman returned into the UK in the early hours, it appears he was chasing the cash from the Congo, was it $10m, they suggest he met the President of the Congo in South Africa.

RNS due ?

[noirua] 08/2/2023 14:49

Diversified Metals Holdings, LLC have so far not moved to subscribe a further $500,000.
They could do so at the average price of any 5 days in a 25-day period - rounded down by 0.1p at 0.2p.[ it is not clear in the RNS as to how long they have after a 25-day period to make an announcement or when they run out of time. The 25-day period is taken as trading days.) If I've worked it out right the next 25-day period at under 0.3p runs out on Friday 3 March 2023.

[algernon2] 07/2/2023 21:59

Thanks for the encouragement guys. I did also have some KATORO at one point but gave up on Louis Coetzee as a Boss some while back thankfully. Here's to 2023!

[noirua] 07/2/2023 18:56

Power Metal will come right eventually I'm sure. My Buxton Resources ASX: BUX finally found graphite, the highest quality in Australia. It took them 13 years to do it and recently ASX: IGO partnered with them on many other ventures.
Buxton Resources chart:

Kavango will also make it and of course Red Rock. As to Katoro, their position looks dire.

[kemche] 07/2/2023 18:43

"I currently hold POW and KAV and RRR."

I'm surprised you're not more cheerful with those beauties in your portfolio.

The whoosh is not far off.

[algernon2] 07/2/2023 17:55

None of my shares are doing particularly well so far in 2023. Kemche I need cheering up. I currently hold POW and KAV and RRR.

[kemche] 07/2/2023 10:23

The entities are all over this now.

[grimreaper2019] 07/2/2023 09:11

Money to be made here, could be the next VAST.

Stealthy accumulation going on by certain entities.

[broken_arrow1] 07/2/2023 08:36

Large premium (.3933p) being asked for just £5,000 of shares currently.

[noirua] 07/2/2023 08:14

Exploring Victoria’s gold mining future

TOM PARKER
January 13, 2023, 9:48 am

www.australianresourcesandinvestment.com.au/2023/01/13/exploring-victorias-gold-mining-future/

[noirua] 06/2/2023 16:45

Friday, the AGM, at 2 pm and I suppose at least AB will have seen Elephant Oil over the line nearly 24 hours before the start. So something to be happy about if the DRC cause remains still hovering along the line rather than over it - we shall see.

The market still does not seem to be in a believing frame of mind concerning the meandering advance to DRCs' success. Saying, 'to wander aimlessly or casually without an urgent destination' is in itself unfair. However, doing so urgently and ending up wandering, after all, is frustrating for all on board the good ship Red Rock, and avoiding those rocks where we can see many a former exploit.

[captain_kurt] 06/2/2023 14:11

For once you maybe right K :-)

[kemche] 06/2/2023 10:31

No stock available. All sold out.
Never gets old.

[broken_arrow1] 06/2/2023 09:11

IG are asking .395p for 1.5m (around £5k worth) that is a pretty large premium.

[mininglamp] 06/2/2023 07:51

I would expect an update this week, or possibly two if Elephant Oil IPO on Thursday, it is worth noting that Red Rock often release news during the trading day, not always at 7am.

The volume increase on Friday was interesting to say the least, it does suggest someone knows something, also worth noting when Elephant Oil list on NASDAQ some of the largest holders are also Red Rock shareholders, this liquidity event may entice them to buy Red Rock in the open market given their belief in the company.

It should be a very interesting week.

[kemche] 05/2/2023 19:02

Yep.
Gla lthers

[greekhovel] 05/2/2023 18:19

With 1.3b shares in issue Red Rock would be valued at £13m @ 1p a share - not much.

Cash being pursued in the Congo amounts to $7.5m + $2.5m + an element of costs -> c$2m totalling $12m or approx £10m.

What appears to be forgotten is Andrew Bell suggested (more than once) that this cash would

(a) unlock a potentially significant value enhancing deal in country
(b) pursuing a mining major for compensation ranging from $50m-$100m (or even more)

The IPO of Elephant Oil on NASDAQ is expected this week - RRR equity stake worth $1.5m.

Maybe, finally, long suffering investors in Red Rock are about to be handsomely rewarded.

[captain_kurt] 05/2/2023 12:38

Wait for months and two number 11 buses about to show up 😂

Agree a minimum of 1p so a potential 3 to 4 bagger from here

[noirua] 05/2/2023 11:37

The downside Friday was the fall in the gold price: A probable reason is a sudden strength in the US$ on a flight to strength with increased problems with China and ongoing difficulties with Russia plus Iran. It seems China is testing the United States as it considers moving on Taiwan before America sets up bases in the Philippines. Or maybe America is also testing China by saying they intend to set up bases in the Philippines. Perhaps Russia will build up the anti by suggesting moves into Poland.

[noirua] 05/2/2023 11:06

I, first of all, understood it was Gecamines which sold on Musonoi Area 1 for over $400 million. So maybe any lawsuit in referring to big G is against Gecamines and not Glencore. Gecamines lost $400 million, some say $560 million, so maybe they somehow see it as quits and bad luck Red Rock Resources. The company is 100% owned by DRC so any compensation at that point is likely to be a replacement tenement - AB did refer to this in an earlier podcast.

Investors will hope at stage one conclusion that AB, it must be tough going for him in DRC, gets $7.5m £6.2m plus some costs - costs must be pushing $600K at this point. This together with the ELEP likely share holding around £1.5m would make £7.7m plus costs. How that would affect the RRR share price is difficult to say as the increased confidence factor will be worth something. Maybe, at a guess, a market cap of around £11 to £13 million - 0.925p to 1.1p a share after allowing for Diversified's shareholding. If AB manages to get $4.505m £3.72m million eventually from VUP SA a price of 1.2p to 1.425p. All the above are my workings and guesses so IMHO.

[captain_kurt] 05/2/2023 07:39

If AB has moved the DRC Arbitration over the line then that leads to s much bigger prize. Glencore slam dunk law suit for $200M !!!!

This could be a defining week in Red Rocks history