Red Rock Resources Share Discussion Threads

[pedigree_scum] 21/10/2013 17:06

Today was D-day for Ascot. Wondered whether we will hear anything from them this evening....

[wriglet] 17/10/2013 20:10

NAIROBI – Kenya's government plans to hold a 10% stake in large mining concessions under a planned law aimed at making more money from the sector, Mining Cabinet Secretary Najib Balala said on Thursday.



Seems reasonable to me.

Regards

Wriglet

[bam bam rubble] 17/10/2013 15:12

An example of how to RNS dealflow below and from one of AIMs more woeful juniors
(being a microcap isn't a barrier to communicating to the market professionally)

Timeline from Touchstone Gold circular (none of the following was RNS'd)
May 07 2012: CEO met with the target company in Vancouver to discuss transaction
May 23 2012: Further meeting to exchange info - signed confidentiality agreement
Jun 16 2012: Board decided to pursue a merger transaction after a review process
Jun 22 2012: Letter-of-intent signed for potential merger (equity structure TBC)
Aug 05 2012: following negotiations and BoD approval Definitive Agreement signed

RNS history
Apr 23 2012: Q1 update; "Company seeking opportunistic acquisitions in Colombia"
Aug 06 2012: announced Definitive Agreement for a proposed merger transaction

A simple 2 act structure; announce intention (i.e. looking to add/sell an asset)
then a single announcement to shareholders once a definitive agreement is signed.

[seagullsslimjim] 17/10/2013 14:49

Maybe they should have conducted due dilligence on Bell - though we already know what they'd find

[steve1905] 17/10/2013 14:18

It may have been better if bell was a little more pragmatic once a possible deal has been announced. He was guilty of outrageous claims when this latest deal was announced, just like he did with the Colombian fiasco .

[thailand] 17/10/2013 14:14

You'd have thought that they'd have sniffed out AB some time ago.

[atino] 17/10/2013 14:12

...not a bad thought bbr, but then again...that's what DD 's are for i.e. to sniff anything dodgy out!:-))))

[bam bam rubble] 17/10/2013 12:58

Here's a thought. Why don't they act a bit more professionally and only announce deals once done, due diligence and all, instead of updates on the minutiae of dealflow every time someone sneezes. The reason of course is AB is all about the promote.

[soulsauce] 17/10/2013 11:05

Atino lol, I assume you said that tongue in cheek?

rrr and yourself were trumpeting D-Bar as a major coup by Bell while others (inc' yours truly) were saying stripper wells would never pay - quell suprise. All along it was more about getting equity values and volume up.

How much longer are you going to stay in the dark and wet behind the ears. And now coal in Mongolia lmao!!

[atino] 17/10/2013 07:23

No deal with d-bar....and that takes courage to say no, you know!:-))) Well done if they/we felt uncomfortable with it.

[nash81] 17/10/2013 01:13

oil price is still high (above $100), which means any valuation to purchase wont be cheap.

other mineral such as coal are at the bottom price at the moment so better chance in buying at relatively cheaper valuation. hence perhaps coal deal is better. not to mention faster payback time

[ogeretla] 16/10/2013 23:20

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 15:45

Digger. Sorry posted after your latest post.

[rrrrrrrrr2] 16/10/2013 15:44

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 15:41

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 15:23

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

[digger27] 16/10/2013 15:11

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 14:14

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 14:11

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 13:32

any idea why RSL is suspended?

[digger27] 16/10/2013 12:13

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 08:33

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 11:54

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