Red Rock Resources Share Discussion Threads

[az209] 24/11/2013 15:16

Just watched the oh so amateurish "production" video on the RRR website. I would love to know how much was charged to the company by Adam Street Productions which presumably is run by his daughter .

This would seem to me to be another way of taking money out of the company as yet another "business expense".

Does this company exist for the sole reason to let AB and cohorts extract money.

To quote that famous saying "But where are the customers yachts ?"

[johndee] 23/11/2013 15:58

RRR have no investment in Oracle. So the rise had nothing whatsoever to do with Oracle. Also it was actually RGM that had an investment in Oracle but sold all of it 6 months ago.


RGM sold their shares in Oracle as per the rns of the 3rd May 2013. As the market where essentially valuing RGM based on their stake in Direct Nickel only then hasnt affected the share price. Whilst one may argue had they hold onto them indefinately for a better price, one has to do whats right at the time, rather than looking by way of hindsight

[hubs] 23/11/2013 07:48

The little rise on Thursday was due to Oracle's announcement. I think it fizzled out as it was realised that that was not a done deal.

[bam bam rubble] 22/11/2013 19:57

RRR may have received a rap on the knuckles from the authorities in prior years for the following;

2009 AGM
130,000,000 shares requested for the coming year "and retrospective approval of our share placings on May 19th, Jun 3rd, Sep 17th, and Oct 6th, which were all in breach of the authorised allowance"

2010 AGM
250,000,000 shares requested for the coming year "and retrospective approval of our share placings on Aug 12th/20th, Sep 14/22/28, Oct 1st/8th, which were all in breach of the authorised allowance"

[bam bam rubble] 22/11/2013 19:20

Seems to be the standard amount to cover a year's worth of admin costs and fruitless endeavours

Dec 2011 AGM
300,000,000 shares requested for placings over next year (fully used by Nov 2012)
100,000,000 shares available for any equity conversions i.e. warrants (not used)

Nov 2012 AGM
300,000,000 shares requested for placings over next year (fully used by Aug 2013)
100,000,000 shares available for conversions (fully used for YA's bonds Aug-Nov)

Dec 2013 GM
300,000,000 shares requested for placings over next year +45m for JMS share swap
100,000,000 shares available for conversions (to be used for YA's Nov bond issue)

[darren81] 22/11/2013 18:51

Then it'll be a no and a no from me then! We've had more than enough placings!!

It's time for Mr Bell to take a pay cut for this part time job of his, he should be feeling the pain that we all are. If deals complete then he can take a bonus but he has been milking this and other companies for too long, he should do the honourable thing and defer his salary until they complete. His salary is totally out of proportion for a company with the current mcap.

[on target] 22/11/2013 18:25

Neither appears to be anything to do with the JMS share swap darren. A nominal amount of GBP 445,000 means £445,000 worth of shares at the nominal value - which is 0.1p. In other words they are asking for the authority to issue up to 445m new shares.
I think 2 refers to not having to give shareholders the rights to purchase the placing shares (pre-emption rights).

[darren81] 22/11/2013 18:21

I think AB is adopting the age old "if you can't convince, confuse" method here.

[darren81] 22/11/2013 18:20

Just got notification of the vote from my broker (well got it a few days ago but only seeing mail now). Maybe I am stoopid but can someone please explain the difference between the two items up for the vote in laymans terms?

1 To authorise the Directors to allot relevant securities up to a maximum nominal amount of GBP 445,000
For Against Abstain

2 To dis-apply pre-emption rights up to a maximum aggregate nominal amount of GBP 445,000
For Against Abstain

I know 1 is asking us if we will rubber stamp the JMS share swap but what does 2 relate to?

[arf dysg] 22/11/2013 12:16

If life gives you lemons, make champagne.

[seagullsslimjim] 21/11/2013 21:23

could be a punt when back into the 0.4's

completion unlikely this year and i still reckon it will be on lower terms as the buyer holds all of the aces.

If there were other interested parties in this world class asset the Bell would set a timeline for completion.

This i think may pan out along the Lemom fiaso and an offer that wasn't a definitive offer !!!

[richie1218] 21/11/2013 14:17

So says one of the biggest chancers on here,
talking of chancers where's your mate Kez these days ss.

[soulsauce] 21/11/2013 13:31

There are no intelligent investors buying in RRR only chancers and traders, akin to placing a pony on the 3.30 at Newmarket.

[knoblet] 21/11/2013 13:26

"intelligent investors bought"

Eh? The only intelligent ones are YA Global who have our Mr Bell by the short and curlies.

[johndee] 21/11/2013 11:46

More buying than selling and the share price is still up on the day. I see the RNS as a positive.

[soulsauce] 21/11/2013 11:31

Johndee I suspect the buying was not for that none news, if it was they will certainly be disappointed now hence the drop since the RNS.

Bell kicking the can down the road, but he's good at that.

[fangorn2] 21/11/2013 10:46

"The proceeds of the Convertible Note will be applied to debt reduction and to working capital purposes."

So that's more debt to pay off previous debt and of course, ensure the payment of salaries,eh, I mean working capital going forward.

[dimmerginger] 21/11/2013 09:31

Credit card is maxed now.

[soulsauce] 21/11/2013 09:22

That's the good bit is it Johndee - lol!! Things must be bad here if that is termed good news :-/

[johndee] 21/11/2013 09:20

Read the RNS carefully. Encouragement to hold and not sell into the market as done previously. Why do you think the share price has been rising before the RNS. News leaked and intelligent investors bought.

[steve1905] 21/11/2013 09:17

Can you explain the good news?

[soulsauce] 21/11/2013 09:17

Good news? You reckon??

[johndee] 21/11/2013 09:16

Good news...leaked before...hence the share rise. I noticed something was happening from 8am.

[soulsauce] 21/11/2013 09:15

RNS - anyone for more confetti :-/

[johndee] 20/11/2013 13:37

Now is the time for RGM and RRR to become one. Makes sense as the share price is about the same and will reduce costs.