Red Rock Resources Share Discussion Threads

[seagullsslimjim] 05/12/2019 11:59

10 days ??? I can hear the 12 days of Christmas joyfully humming in my head :-)

[torp] 05/12/2019 11:27

You can but chuckle really. RGM "The Transaction Shares as a whole would, if the required resolutions are approved at the GM, result in the issuance of 7,170,440,985 Ordinary Shares" 7 BILLION shares ! And then to cover up that colossal embarrassment another share consolidation. What a cesspit AIM is! Meanwhile back at RRR 10 working days till the £1m Convertible Loan Notes are due for repayment. Placing is the most likely outcome imho but holders might have to reluctantly accept the CLNs being rolled on for a 3rd year. Tough times at RRR High DYOR

[seagullsslimjim] 05/12/2019 10:56

Pump and dump old boy ! - now sharply down after the FOMO spike! I guess you haven't read up on a certain J Parsons and how the Sound Energy price went down 95%. Thick as thieves apparently and so should fit like a glove at RGM

[noirua] 05/12/2019 10:15

REGENCY MINES RGM shares move sharply upwards today.

[torp] 04/12/2019 17:01

Only 2 trades yesterday and one today, shown as a sell. This is a dead horse, much like RGM, it simply hasn't stopped twitching and the shameless bookies are still trying to get people to bet on it. The old MO of tickling the fish with Update RNSs and then dropping dilutive placings is so well established that nobody falls for it any more imho. They've tried issuing CLNs to raise cash but then had to roll the CLNs on for an extra year. That year is almost up and the problem remains. Where do you magic £1m cash from to repay those CLNs??? I'm guessing they will have to kick them down the road for a 3rd year but it's entirely possible they will go the dilution route given they just changed their broker back to old friends Cornhill Capital the placing experts. Only the most naïve don't see what's coming imho. Sit tight until 19th Dec and see what they decide to do with the CLNs imho DYOR

[seagullsslimjim] 04/12/2019 16:27

jammy - best contact Andrew Bell if its a guaranteed banker! Biscuit anyone?

[jammydodger1] 04/12/2019 15:38

Guys apparently ALGW soon to have a 100m credit facility signed and share price will go ballistic Company is only 4m mcap

[kemche] 04/12/2019 15:32

The ENTIRE enterprise is a crock designed to make the fat man rich. Everyone knows - even NoiruaEttieBellGoldHelplessClunes!

[torp] 04/12/2019 15:14

Noirua - "Hopefully one, Mid Migori, will be saved " Migori is a total red herring imho. Nobody was interested in it BEFORE RRR had their license revoked. If they ever succeed in getting a replacement then I expect total apathy from the markets just as before. Noirua - "On the Greenland disaster, RRR still hold all the mining records for the future " Greenland was sold off for £1 None of this sad and desperate ramping is going to save the share price from getting further decimated by this BOD who are still taking stupid salaries and £millions in expenses despite abject failure on all levels. Now only 11 working days till the £1m of CLNs are due for repayment. Selling Jupiter shares at the current decimated share price would be catastrophic for shareholders so it very much looks like a placing will be coming imho. I'd guess that to get a placing away they will need to give placees a huge discount. They will probably get shares at 0.3p to 0.35p As we all know once such a placing is conducted the share price always drops to that placing price and usually lower than that. Absolutely no point buying shares before that 19th Dec deadline imho. DYOR

[noirua] 04/12/2019 14:12

Time will tell guys. I wont be foolish enough to say what will happen in the remainder of 2019 and 2020 or what the share price will be as that is up to the investors. I notice FDI up 190% a short time ago and that was indeed a surprise. All I will say is, Mid Migori and DRC announcements due look to be very many times greater. We'll see. The number of failures has been unacceptable. Hopefully one, Mid Migori, will be saved by principally the efforts of Andrew Bell. A smaller interest, Elephant Oil, looks to be back running again thanks to UOG. On the Greenland disaster, RRR still hold all the mining records for the future - written off it may be now but like Elephant Oil it could get another chance many years down the line. Amulet looks in difficulty but after FDI's efforts today Amulet may yet move on their Botswana Diamond assets, we'll see guys.

[greenpastures2] 04/12/2019 14:12

You are right Torp. There have been too many failures. You have to expect some but we are now in a situation where every thing hinges on Kenya and the DRC and RRR has virtually no cash and one really marketable asset.

[torp] 04/12/2019 14:00

Predictably Noirua once again tries pulling the old "sum of the parts" sleight of hand trick to dupe people. Shameless stuff. The El Limon royalties which he persists in simply quoting as $3m as if that were cash in the bank is an appalling mislead. The last reported quarterly rate was a mere £13,658 for the quarter which is just laughable. What that means is that at that rate it would take over 100 years to recoup that $3m via the 3% and 0.5% NSR royalties. It's an appalling mislead as I said. The only decent asset here are the Jupiter shares which have lost £2m of value in the past 4 months. The BOD fritter away the lion's share of any cash on Admin and other expenses which add no shareholder value. THAT is why the "sum of the parts" nonsense is just a complete sleight of hand trick to dupe unwary PIs. Between 2012 and 2017 this BOD raised over £15m cash from dilutive placings decimating the share price in the process. In the same time period they spent over £11m just on Admin and other expenses. It is for that reason the "sum of the parts" nonsense doesn't apply. Whatever value you believe exists in any given asset you need to take off approx. 70% of it because that's how much would likely get frittered on expenses if they cashed the asset in. Noirua is getting desperate here and understandably so as the share price here will be in the 0.3p levels in no time imho. Noirua is massively down on his investment imho. He badly mislead many last year saying 0.6p was a great price to get in. Today the Bid is just 0.4p. Follow these shameless rampers at your peril. DYOR

[seagullsslimjim] 04/12/2019 13:44

Noirua - you forgot this off the bottom of your post re Jupiter... RETURN TO SHAREHOLDERS TO DATE - Nil, Zilch , Sweet FA.

[noirua] 04/12/2019 13:36

JUPITER MINES LIMITED ASX:JMS - Https://www.rrrplc.com/projects-and-investments/steel-feed/ - Red Rock Resources PLC 'RED' holds 17,024,914 shares. Anglo only own a 0.3% royalty in Mount Ida iron ore production. Red Rock still hold 1.2% at present and 0.75% if the full US$8 million payment is made by Anglo Pacific. Daily chart: http://www.advfn.com/p.php?pid=staticchart&s=ASX:JMS&;p=0&t=27 Jupiter shares 17,024,914 at 25c = AUD4,256,228 GBP2,222,921 Dividend received= AUD680,000 GBP356,000 POWER METAL RESOURCES POW - https://www.rrrplc.com/projects-and-investments/multi-commodity/ - 25,000,000 shares held. Company also has 25m warrants convertible at 1p up to 2022. POW 25,000,000 = GBP93,750 PARA RESOURCES INCORPORATED TSXV:PBR - GOLD - 2,500,000 shares and 2,500,000 3 year warrants exercisable at CAD0.30 per para share. News Http://pararesourcesinc.com/category/uncategorized/ Video July 2019: Https://youtu.be/v7sBwhH4AK4 Para 2,500,000 = GBP190,000 El Limon royalties - value to RRR US$2.95 million.

[torp] 04/12/2019 12:35

Worth noting that the Jupiter share price has dropped significantly over the past 6 months. (note tho that a dividend has been paid) The RNS from 2nd Aug here stated that the holding was worth over £4m Today the Jupiter shares are worth just over £2m. That's a lot of value loss. Here's the Jupiter chart: With the shares having lost so much value I can't imagine that Bell will want to cash them in to raise cash to pay down the £1m Convertible Loan Notes whose repayment is imminent on 19th Dec in just 11 working days time. It would be a real kick in the teeth (again !!!) for shareholders if this BOD sold JMS shares when they were down rather than when they were high. That for me makes the dilution/placing option far more likely esp as the company has just changed its broker back to old friends Cornhill Capital. Possibly the CLN holders may have to resignedly accept the CLNs being rolled on for yet another year, all other choices being evil ones. All in all it just doesn't look good at all imho. I still predict the share price here will be in the 0.3p levels by end of the year. DYOR

[kemche] 04/12/2019 12:19

It’s an Opportune Time to Be Looking at Fundraising

[noirua] 04/12/2019 11:33

https://twitter.com/RRR_RedRock/status/1202146778528829442 Reg Spencer: It’s an Opportune Time to Be Looking at Batteries Https://investingnews.com/daily/resource-investing/battery-metals-investing/cobalt-investing/reg-spencer-opportune-time-batteries/

[seagullsslimjim] 03/12/2019 20:12

Gold rising !!! - man the floodgates - the Lemon gold mine may go into overdrive with its royalty payments. Marvellous scenes for all.

[torp] 03/12/2019 17:38

Kemche - "when is the fundraising?" Well only 12 working days to go before that 19th Dec deadline when the £1m CLNs need paying off so if one is coming it will be imminent. Not guaranteed of course, they may pawn off Jupiter shares instead, or they may kick the can down the road for a 3rd year.

[kemche] 03/12/2019 16:45

Good for gold. When is the fundraising?

[noirua] 03/12/2019 16:40

Gold has risen USD17.50 per oz today. Copper continues sideways as it has done since June last.

[torp] 03/12/2019 14:57

Note that continually rolling the CLNs on is bad for shareholders as it just incurs more and more interest at 10% a year. That's just valuable cash sucked out of the company. DYOR

[torp] 03/12/2019 14:55

Thanks to Noirua for the reminder. Deadline is 19th Dec, in just 12 working days time. Approx £1m worth of CLNs are due for repayment then which I suspect means either: - A dilutive placing is on the way - More "family silver" Jupiter shares will be sold to pay it - They will kick the can down the road for a 3rd year The first 2 would imho see the share price drop into the 0.3p levels. The latter would for me be admission that they can't afford to repay the CLNs which again would have a negative impact on the share price imho. Absolutely no point imho buying shares at least until after that 19th Dec deadline. Doing so risks getting caught in a placing or suffering share price drop from the other options. DYOR

[noirua] 03/12/2019 13:23

On 10 November 2017 the Company announced the issuance of up to GBP1,000,000 of convertible loan notes, with the first tranche closing at CLNs as at December 2018: GBP495,000 and the balance closing by 14 December 2017. The notes carry a 10% interest rate and are convertible at a premium to the share price at issuance, being convertible at GBP0.008. Each note holder also received warrants equating to 62,500 warrants for each GBP1,000 loan note and which allows the warrant holder to subscribe for ordinary shares in the Company at a price of GBP0.014 until 19 December 2019. During the course of the year GBP50k [2018] of notes were converted leaving a balance of GBP950,000 due for repayment or refinancing in Q4 2018. --- On 21 December 2017, the Company raised GBP125,000 by way of an issue of 15,625,000 new ordinary shares of 0.01 pence each in the Company at a price of 0.80 pence per share. For every two shares, each subscriber was issued with one warrant exercisable at a price of 1.6 pence per share and expiring on 21 December 2019. The proceeds of the placing were applied towards working capital and strengthening the Company's balance sheet. --- 2 November 2018 RNS: Https://uk.advfn.com/stock-market/london/red-rock-resources-RRR/share-news/Red-Rock-Resources-plc-Renewal-of-Convertible-10/78598759 Holders of GBP575,000 principal value of Notes, out of GBP950,000 of Notes still outstanding, have to date applied to renew the Notes for twelve months to a new final redemption date of 19 December 2019 on the same terms. The Warrants of renewing Noteholders have similarly been extended on the same terms by one year to expire on 30 April 2020. The Notes were issued at par and are convertible into Shares at a price of 0.8 pence per Share. Each Note has a denomination of GBP1,000 and is thus convertible into 125,000 new Shares in the Company. Conversion may take place at any time up to the final redemption date. Each Note holder also received 62,500 Warrants for each Note subscribed. Each Warrant entitles the holder to subscribe for Shares at any time up to the date of expiry at a price of 1.4 pence per Share. The interest rate on the Notes is 10% per annum, accruing monthly. ----- 2 January 2019: Https://uk.advfn.com/stock-market/london/red-rock-resources-RRR/share-news/Red-Rock-Resources-plc-Convertible-Loan-Notes/78974040 The Series 1 Notes were due for redemption or conversion into new Red Rock shares ("Shares") at a price of 0.8p per Share, with a redemption date of 19 December 2018. The Warrants were issued on the basis of 1 Warrant for every 2 Shares to be issued on conversion, with an exercise price of 1.4 pence per Share and a life to 30 April 2019. It was announced on 2 November 2018 that holders of GBP575,000 principal value of Series 1 Notes, out of GBP950,000 of Series 1 Notes outstanding, had applied to renew their Notes for twelve months to a new redemption date of 19 December 2019 on the same terms, with the Warrants of renewing Noteholders similarly extended on the same terms by one year to expire on 30 April 2020. A holder of a further GBP10,000 of Series 1 Notes has elected to renew on the same terms, and subscriptions have been received for GBP325,000 of Series 2 Convertible Notes to be issued on the same terms as the Series 1 Notes and to a maximum principal value of GBP500,000. GBP585,000 of the Series 1 Notes and GBP325,000 of Series 2 Notes, for both of which the redemption date is now 19 December 2019, are therefore now outstanding. The Notes of each series were issued at par and are convertible into Shares at a price of 0.8 pence per Share. Each Note has a denomination of GBP1,000 and is thus convertible into 125,000 new Shares in the Company. Conversion may take place at any time up to the final redemption date. ----- [ Summarising, GBP910,000 of notes are outstanding at present plus accrued interest. ] Now complete, thank you