Red Rock Resources Share Discussion Threads

[scotchoverice] 12/12/2013 05:09

I wonder if the Directors are buying shares..........silly thought, i know

[bam bam rubble] 11/12/2013 22:15

rRr, you'll have to be specific otherwise it just reads as a random outburst against paraphrasing.
Which part of post 3763 do you see as inaccurate?

[rrrrrrrrr2] 11/12/2013 22:03

Lol. A threat and a ringer. Dear me. So BAM BAM can misquote and add his own version and initially claim it to be fact, but I cannot pull him up on this. He plays on the idiots in here reading his bull as fact.

[az209] 11/12/2013 21:48

"About 3 or 4 times I have warned you about this"

Sounds like a threat, personally I think your a "ringer"

[rrrrrrrrr2] 11/12/2013 16:17

How much of the quote from your last post bam bam is your own conclusion, as it is written like its a direct quote from the report, but ONCE again you are making up your own words. This is surely illegal. About 3 or 4 times I have warned you about this.

[bam bam rubble] 11/12/2013 15:43

From the June 2013 pit optimisation RNS;
The Nyanza prospect then MK show best potential due to lower price sensitivity and conversion from resource to pit-shell. KKM, KW, GM; least potential. RRR will now examine the potential to develop Mid-Migori as a small-scale open-pit project with a particular focus on the Nyanza deposit.

However today's report appears to de-emphasise Nyanza;
Nyanza has no overlying soil anomaly halo - partly as historic soil sampling data stopped short of the main resource area. Notwithstanding the lack of data, samples taken within 200m failed to show anomalous or elevated gold values. The lack of surrounding mineralisation implies highly localised soil transportation features and much narrower mineralisation style than the other resource areas.

That leaves the MK prospect as the best growth profile but the pit shell was very small at 0.468MT for 59,000oz recoverable. Might explain the new focus on finding other targets in the region.

[richie1218] 11/12/2013 11:02

RNS going down quite well if the buying is anything to go by :-)

[vivgav] 11/12/2013 10:54

RNS out here

[bam bam rubble] 10/12/2013 15:53

Thanks for the correction, edited accordingly.

[arf dysg] 10/12/2013 15:46

09 ended w/112,586,915 (39,629,000 = 35.20%)
then issued +1,500,000
then issued +5,293,237
so ended w/120,010,152



112,586,915
001,500,000+
114,086,915

114,086,915
005,293,237+
119,380,152


Need another 630,000 shares!

so ended w/120,010,152

[bam bam rubble] 10/12/2013 15:25

Not sure Kansai's share capital deserves this much analysis but as posted above
it had 3 share issues from 2009-11 and that dilution reduced RRRs percentage

08 ended w/102,586,915 shares, one filing miswrote it as 102,886,915
then issued 10,000,000
09 ended w/112,586,915 (RRRs 39,629,000 = 35.20%)
then issued +2,130,000
then issued +5,293,237
so ended w/120,010,152 (RRRs 39,629,000 = 33.02%)

[scotchoverice] 10/12/2013 00:20

Bam Bam but the 39m shares was 35.2% - was it just a typo that saw it stated as 33.2%?

[ciao4niao] 09/12/2013 23:52

Nothing more than an excuse for paying his daughter and Natasha another few thousand pounds.

[seagullsslimjim] 09/12/2013 22:32

az - i wonder why ;-)

[az209] 09/12/2013 21:03

Comments are disabled for this video.

[johndee] 09/12/2013 16:46

KDR went up 116% today. Was 0.5 pence just a few months ago, now 3 pence. Shows what good news can do.

[bam bam rubble] 09/12/2013 16:24

Scotch,
You're right the option must be over existing shares as the percentage stays the same if exercised;

At Feb 1st 2012, RRR owned 39,629,000 (33.02%)
and acquired an option over 5,923,237 ( 4.94%)
If exercised RRR would own 45,552,237 (37.96%)

Therefore there must be c.120,010,152 Kansai shares in issue

Kansai ended FY 2008 with 102,586,915 shares so must have had 3 issues since then;
1st issue 10,000,000 (H2 2009) Share issues on NEX are capped at 10m a year
2nd issue: 5,923,237 (Crom shares)
3rd issue: 2,130,000 (other)

[scotchoverice] 09/12/2013 08:58

and surely the point of accountability is to ask AB how he came to handover shareholder funds for assets of no apparent value...

[scotchoverice] 09/12/2013 00:46

Post 3734 does not in my view answer this at all sorry..

"On January 20, 2012, the Offeror acquired from a shareholder of the Issuer an option over 5,923,237 common shares in the Issuer at an aggregate purchase price of the greater of (i) US$0.05 per common share, and (ii) 85% of the amount of the valuation ofKansai's assets......The Offeror has entered into an option agreement with Thomas L. Crom ("Crom"), a shareholder and officer of the Issuer, which provides the Offeror with an option to acquire 5,923,237 common shares in the Issuer. The consideration for the option is the greater of (i) US$0.05, and (ii) 85% of the amount of the valuation of the Issuer's assets The option is exercisable for US$l, at any time in the next four years and is conditional upon the partial revocation of the existing cease trade order of the Issuer."


The acquisition of the option was "from a shareholder" and we know the shareholder was Tom Crom. Had it been a new issue, the transaction would have been with the company itself.

But it was not possible to be a new issue as KMC had been under a cease to trade order for years and were, I believe, prohibited from issuing new shares. Indeed, even the transfer of the 29m shares had required a partial suspension of the CTO to enable it to proceed. I believe this is on SEDAR - please correct me if I am wrong.

I thought the 10m shares had been purchased from the company for $100k - that is $0.01 / share - and one might expect the CFO to have participated in negotiating such an agreement.

[bam bam rubble] 08/12/2013 20:18

"Bell pays Crom a minimum of 5c a share when previously RRR had paid 1c a share.
What was the justification for the 5x premium?"

post 3734 answered this

Any issue of new shares on the TSX has a minimum issue price of 5c per share.

RRRs prior purchases were transfers of already issued shares so weren't limited to 5c.

[scotchoverice] 08/12/2013 15:51

where is RRR's cash? where do it go? where are Kansai's accounts?

[johndee] 08/12/2013 15:49

No point in all those reports as we know Kansai is worthless now.