Red Rock Resources Share Discussion Threads

[ogeretla] 16/10/2013 22:20

So, no D-Bar acquisition (although willing to continue negotiations with vendors), and an opportunity for acquiring an interest in Mongolian coal producer.

[rrrrrrrrr2] 16/10/2013 14:45

Digger. Sorry posted after your latest post.

[rrrrrrrrr2] 16/10/2013 14:44

Digger you are wrong. I am not sure how I can explain it any better. The nominal is 0.1p as it clearly states and the lowest we have diluted us about 0.38p. Not sure how you are getting confused. The mcap is achieved by multiplying the numbers of shares in issue by the current shareprice.

[digger27] 16/10/2013 14:41

Sorry guys....having a serious senior moment. Just checked the Memorandum of Association and it does state 10 billion shares at £0.001p i.e. tenth of a penny each!!!
Must check my meds :)

[gamesplayer] 16/10/2013 14:23

Digger, nominal value is the par value of the stock. Nothing to do with the share price they floated at.

[digger27] 16/10/2013 14:11

rrr - I don't think so! If you look at the company website it states a market capital of 12.30GBP ( presumably £million).


On the Investor relations page we have :-
Number of Securities in Issue
The Company has 1,155,274,254 Ordinary shares of 0.1pence in issue as at 5 February 2013, of which none are held in treasury.

If you multiply 1billion 155million 274,254 by one penny you arrive at 11,552,742.54 but we have of course had a few more placings and conversions since Feb 2013.

There is no way they would have floated the company with shares at a nominal value of a tenth of a penny.

[rrrrrrrrr2] 16/10/2013 13:14

Digger you are getting confused. They are expressing it in pounds and nominal value in pence. The share price is clearly above 0.1p. The nominal value is a tenth of a penny.

[rrrrrrrrr2] 16/10/2013 13:11

Digger. We are currently at 0.85p. The nominal value is 0.1p. If it was expressed as per the way the RNS expresses it, it would be GBP0.001. So clearly all issues have been above the nominal value. Nash. RSL have been suspended as they are going to announce DD at Texas and also an additional transaction which I have no idea what it will be.

[nash81] 16/10/2013 12:32

any idea why RSL is suspended?

[digger27] 16/10/2013 11:13

rrr - the last RNS of 9th Oct shows conversion at a price of GBP0.009518 per Share, on 27th August at a price of GBP0.006220 per Share,8th August subscription at a price of 0.645p per Share.
It gets confusing when the share price drops below 0.1p as the decimal point is misplaced but a quick multiplication of the last subscription clearly shows it should be 0.0645p.
What I am going on about is the issue of shares below the nominal price of 0.1p as you are not allowed to do this without a capital restructuring which has to be approved by shareholders.

[rrrrrrrrr2] 16/10/2013 07:33

digger. The nominal value is 0.1p. We havent issued any shares below 0.1p. Dont understand what you are going on about. Think the lowest is 0.38p

[johndee] 15/10/2013 10:54

RGM seems to be more in favour of that news more than RRR judging by recent trades.

[atino] 15/10/2013 10:49

[Excellent news, looks promising *__^ Quote] - Resource Star to outline due diligence on Texas oil interest, additional acquisition

Resource Star (ASX: RSL) is in pre-open today following the ASX granting the company a trading halt, pending an update on the due diligence process of the D-Bar Leasing transaction, and a potential additional transaction opportunity.

Resource Star is currently transitioning itself into new resource sectors including oil in continental U.S., and away from uranium.

In August this year the company announced that it had entered into a binding terms sheet to acquire a 50% shareholding interest in D-Bar Leasing, Inc., a company incorporated in Abilene, Texas.

D-Bar Leasing has a 100% working interest in approximately 2,732 acres, in Abilene, where it is already producing between 30-50 barrels of oil per day.

The halt will remain in place until the opening of trade on Thursday 17th October 2013, or earlier if an announcement is made to the market.

hxxp://www.proactiveinvestors.com.au/companies/news/49111/resource-star-to-outline-due-diligence-on-texas-oil-interest-additional-acquisition-49111.html

[odvod] 15/10/2013 05:19

post 3321

gtranslate

Reward ? What about? For the destruction of shareholder value ?

In the end, management and staff of Red Rock Resources have to pay an effective price of about 0,258 pence ! We have 129,032 free shares , which were also issued , not yet taken into account. We are stunned.

It is also interesting overview of this release (Source: www.rrrplc.com / themes / rrrplc_theme / scripts / php / rns_viewer.php ?
id = 20807129) , how much of its own shares held by the management of Red Rock Resources directly or indirectly :


Source: www.rrrplc.com

A reference to any applicable lock-up period for these shares, we have found anywhere . Therefore, we assume that these freely tradable shares sold in a timely manner on the market.

CONCLUSIONS: The 4-week chart of Red Rock Resources is telling:


Source : finance.yahoo.com

With the currently proposed transactions in Colombia and Greenland we still have strong doubts as to whether these can be implemented final. Supposedly the Greenland deal was due to the events in Cyprus is not yet complete.

According to recent transactions , we understand why the management does not hold significant amounts of Red Rock Resources . Our impression is that the company only exists so that management his monthly paychecks and fills his pockets with cheap shares , has increased.

Looking at another company of the "manager " named Andrew Bell Regency Mines Plc ( www.regency - mines.com ) you can see that everything follows a pattern that never creates shareholder value , but only destroyed.

[ogeretla] 14/10/2013 23:59

Posted on LSE by Vipassana :

RSL trading halt regarding D-Bar

[hernando2] 11/10/2013 10:23

'Good level of production'

Typical obfuscation from RRR.

How much

What is the cost

I bet you if it was good , it would have been spelled out.

and the LSE P&D crew are boasting about progress at El L for all they are worth.


Newbies being sucked in all the time

IMO

[mikestamp] 11/10/2013 09:25

rrrRRRrrr2 10 Oct'13 - 22:55 - 3436 of 3442 0 0

Hubs. Who cares, rrr is on the up. Look at the chunky buys. 1.13 was paid on closing bell, well above the ask. Jeez, you people need to live in the now, not the past.



LooooooooL

[steve1905] 11/10/2013 08:11

"interest from multiple parties for Nama Greenland Limited" Yeah?

Where ever did that load of nonsense come from?

[knoblet] 11/10/2013 08:04

"With the continuing success of the company' cost cutting measures"

Eh? I haven't noticed the swag bag getting any smaller.

[aspers] 11/10/2013 07:34

Red Rock Resources (RRR.L, 1.01p) - Speculative Buy

Red Rock Resources provided two updates yesterday. The first release contained an update on the company's operations. After an offer by a third party for a controlling interest in Nama Greenland Limited (60% owned by Red Rock), the transaction is progressing towards the execution of the required documentation with the investor. The potential buyer of Columbian assets has visited the mine and the company expects to receive an offer soon. Meanwhile, a good level of production is being maintained. A drill has already arrived on site at El Limon. The company is now beginning work on a scoping study on the MK and Nyanza areas of the Mikei gold project at Migori, Kenya. In a separate announcement, Red Rock reported that YA Global Master SPV has converted £261,311 in unsecured convertible bonds 2014 into 27.5 million ordinary shares of 0.1p each. These shares are expected to start dealing on AIM on 15th October.

Our view: Interest from multiple parties for Nama Greenland Limited exhibits the attractive potential of the asset. Even for the Columbian assets, the current steady production level and the ongoing progress of drilling work should be able to fetch a good deal for the company. The recent acquisition of Texas oil project by Red Rock's associate company, RSL, is positive news for the investors. Even after the Greenland deal goes through, Red Rock plans to retain some stake in the asset. With the continuing success of the company' cost cutting measures, the upside potential from Greeanland after the sale (in the form of remaining interest and royalty), we are of the view that Red Rock could capture a major value growth going forward. We maintain our view on the stock to a Speculative Buy.

[rrrrrrrrr2] 10/10/2013 22:15

Og. You are correct, but it's nice to get exposure in the times.every little helps

[ogeretla] 10/10/2013 22:08

btw, nice to see a bit of progress in Washington too.

[ogeretla] 10/10/2013 22:00

I'm not convinced that the update RNS was the reason for the jump - I reckon it was more to do with the bond conversion RNS. People had already been calculating the target date that YA would convert the bond and that YA would most likely be shorting up until that date, based on past experience. Today or tomorrow had been the calculated date, so it made sense to not buy while YA were shorting, meaning the best time to buy (if so inclined) would have been Wednesday afternoon. That's my theory anyway !

[rrrrrrrrr2] 10/10/2013 21:55

Hubs. Who cares, rrr is on the up. Look at the chunky buys. 1.13 was paid on closing bell, well above the ask. Jeez, you people need to live in the now, not the past. Swansea fc were nearly in non league football 10 years ago. Things move on.