Red Rock Resources Share Discussion Threads

[rrrrrrrrr2] 09/10/2013 19:12

Ritchie. well when I spoke to NAMA with the question a few weeks back this was the response.

Me. I assume then the potential buyer will probably delay the

deal until next year then as to not tie up money now. Would this be a

correct assumption?

Regards

Sent from my iPhone



NAMA Reply :No actually this would be the completely wrong assumption, as if he does he

would lose time for preperation and also he would lose the gain he has on

other potential buyers that could lock him out.

[highly geared] 09/10/2013 19:11

3p will do for me, at least I'll get my money back; after watching £50k profit from 2011 disappear into the electronic ether from the 20p intraday top! Only myself to blame , should have set trailing stop at 15p. Arrghh!

[bam bam rubble] 09/10/2013 19:10

rrrRRRrrr2,

We both know the 'sale' is cobblers, it's just there for the promote value. Going back to basics ABs business model is to create liquidity events to assist placings in the market, so generating spending money for management and employees

Only newbie investors would think a 'sale completion' RNS is that liquidity event

The liquidity events are the frequent 'completion is just around the corner' RNSs

[richie1218] 09/10/2013 19:08

I would like to say that today there seemed to be a leak of news of some sorts, going on the share price rise,
I've held these shares in the past and RRR/RGM has never as far as I know had a leak of info prior to an RNS before and a rise in the share price as happened today,
I do not want to cast aspersions about but something changed today imo.

anyway GL all

[richie1218] 09/10/2013 18:59

I cant see anyone paying up millions for an asset which will not be worked till the Ice melts in Q2 2014, so I'd guess GL deal will be Q1 2014 at the earliest,

Colombia I thought a deal of some sorts had been sorted :-/

Nice to go off to Kenya when winter is setting in in the uk :-)

[rrrrrrrrr2] 09/10/2013 18:56

Well I think on completion of Greenland we will hit 2p. Colombia and increased sentiment 3p ish maybe. It's not what I am after though. I am more interested in what project RRR will purchase on the back of the sale/sales. That's where I think I will see the bigger return and into double digits.

[highly geared] 09/10/2013 18:53

What's your view rrrRRR?

[rrrrrrrrr2] 09/10/2013 18:51

Highly. It depends who answers you. It will range from nothing to 20p.

[highly geared] 09/10/2013 18:47

Assuming Greenland and Columbia sales through this year (?), any consensus on "sum of parts " valuation , accounting for Jupiter shares , RSL, Kenya...?

[highly geared] 09/10/2013 18:46

Assuming Greenland and Columbia sales through this year (?), any consensus on "sum of parts " valuation , accounting for Jupiter shares , RSL, Kenya...?

[rrrrrrrrr2] 09/10/2013 18:38

Lol. Ok. Will you quit posting of it is genuine?

[bam bam rubble] 09/10/2013 18:35

re: Greenland - been almost a year and still supposedly in the documentation stage on the buyer's side never mind the lengthy administrative process in Greenland/Denmark (where London Mining has been stuck for several years). So another 15 months is conservative. However that's in the event this proposed sale of interest in genuine and I don't believe this to be a genuine transaction.

[rrrrrrrrr2] 09/10/2013 18:34

What's your estimate on Greenland timeline? You were saying at least 15 months. What's your estimate now? Bam bam ?

[bam bam rubble] 09/10/2013 18:32

I'm talking their cash outflow. But correct, that is what they've been spending.

[rrrrrrrrr2] 09/10/2013 18:31

Bam bam. Are you still saying 15 month plus for Greenland to complete. Lol. Good mention of rrr in the Wall Street journal today.

[rrrrrrrrr2] 09/10/2013 18:30

Bam bam. Lies. Lol. 45k a day on working capital. Are you crazy?

[bam bam rubble] 09/10/2013 18:27

This outfit does have quite a hunger for working capital though

RRR/RGMs avg cash outflow over last 3 years = $1.38 million per month
(roughly 2/3rds spent from RRRs bank account, 1/3rd from RGMs account)

That's $45,340 a day including weekends. Anyone seen Brewster's Millions?

[rrrrrrrrr2] 09/10/2013 18:11

The proceeds of the Convertible Note will be applied towards activities in Kenya and working capital for the Company.

[az209] 09/10/2013 18:08

Company yacht might be nice, visiting those prospects in exotic places. Purely business you understand !

[rrrrrrrrr2] 09/10/2013 17:59

Yes he does say what the money is for you idiot. How can you advise when you don't know.

[soulsauce] 09/10/2013 17:37

Spend spend spend!! How much did GL cost again?

Atino at last you are posting sensible again. Now don't go calling other posters from pigs to dogs when they have their say - comprende.

Doesn't even say what the money is far so paying down the debt pile and wages then ;-)

1.5bn shares by year end, 2bn before end of 2014 - great job Bell.

[rrrrrrrrr2] 09/10/2013 17:35

AGM next month.

[bam bam rubble] 09/10/2013 17:19

Reminder of the (almost exhausted) authorities

Authorised for placings until AGM : 300,000,000
Dec 2012 60,000,000 issued @ 1.00p (240,000,000 left)
Dec 2012 10,603,964 issued @ 1.08p (229,396,036 left)
Jan 2013 25,000,000 issued @ 1.00p (204,396,036 left)
Feb 2013 33,532,490 issued @ 1.07p (170,863,546 left)
Mar 2013 26,388,009 issued @ 0.95p (144,475,537 left)
Apr 2013 48,000,000 issued @ 0.625 (_96,475,537 left)
May 2013 40,340,761 issued @ 0.386 (_56,134,776 left)
Aug 2013 54,134,776 issued @ 0.645 (__2,000,000 left)

Authorised for conversion of bonds: 100,000,000
Aug 2013 44,212,219 £275,000 @0.62p (55,787,781 left)
Sep 2013 27,454,448 £261,311*@0.95p (28,333,333 left) *£38,689 unconverted of £300k bond

If the share price had remained where it was in the summer they'd have run out of authority to issue shares some time ago. Having got it up on promises of deals closing, i.e. on hot air, the last 3 placings saw £885k raised mostly for due loan payments by issuing 125m shares at inflated prices i.e. 0.95p.
At 0.4p, would've taken +100m shares to raise that same amount, and gone over the authorised limit. Ramping the share price was therefore a necessity in recent months, which AB did with some aplomb.

[mikestamp] 09/10/2013 17:11

So, no news but share price up 33%, bell has done what he needed to do.

[atino] 09/10/2013 17:08

Andrew - what i'd like to KNOW is...."why did YOU not request for a drilling rig (as part of RRRs DD) in Colombia...when RRR...were FIRST acquiring El Limon" ???? ^__*

[i mean]...how can you buy a 'producing asset' (...all beit a small scale one)...WITHOUT A...NI 101 report attached, or even a recongised JORC ???? Fischer Watts report, was a decade too old, using old techniques (...and is therefore, in my books, no excuse TBH!!!)


Poor leadership/management ???...or did you prefer the other route (by ramping!)...and by 'blowing your own trumpet' i.e. by stating UNACHIEVEABLE quotes of 350/250tpd, when the infrastructure didn't allow it!!

[Well...] I'm afraid to say Andrew...you (and especially us shareholders!)...have FOUND OUT the HARD WAY! [I mean] FFS - you don't even know what quantity of resources we currently have down there...LET ALONE us finding out...that it was a 'problematic mine' !!!!! (...jeez...what an basic/elementary mistake Andrew!)

...just make sure...you SELL at a 'phecking PROFIT'...will ya ???!!! (...you can at least...do that for us, cant ya??? Lord have mercy!)