Red Rock Resources Share Discussion Threads

[soulsauce] 20/2/2014 15:49

kez I was looking back over the old RRR (Clive) thread when the GL deal was announced. I said at the time I would believe it when I could see it and was derided by the likes of LADESIDE and other Bell sychophants.

It's nice to know when one was right against a backlash of know-it-all hang on every Bell word posters.
I have to chuckle that some are still swallowing the same old Bell rubbish even though everything here is at best opaque and at worst flirts with the bounds of what is fair and legal.

[steve1905] 20/2/2014 15:47

next thing, it'll be the plebs

[fangorn2] 20/2/2014 15:42

Kez,

I was surprised at Auntie Nellie using the term "riff raff" in our regard - not the language one would expect given prior comments. Surely that avatar is not AB? Is there any concrete evidence that it is?

[kezman01] 20/2/2014 15:20

If the 'riff raff' (as auntie ellie refers to us) can see this, how do you think the market view this share ?
And some would have you believe it's all the fault of the derampers.
If it wasn't so farking sad I'd laugh.

[soulsauce] 20/2/2014 15:17

He mentioned in a recent newsletter a larger placing instead of bits through the YA cowboys. Good luck at this share price I say.

[kezman01] 20/2/2014 15:14

So without the GL cash wheres the money coming from for any new venture ?
.....not to mention capital repayments, loan interest, wages, working capital !!

[ladeside] 20/2/2014 13:11

kezman,
You probably already know my thoughts from reading the LSE board, however basically I believe that should GL complete on the terms previously revealed, then I would expect that to stick about £15 million of value to our mcap, broken down as circa £6 million cash, remaining stake valued at least the same and 1.2% mine head royalty to give us said figure.

Of course, sentiment could even spike it well past this due to having cash in the bank and a tangible asset. But again, who knows ?

Yes, with the extra shares now in issue, I would reckon your share price figure shouldn't be far off with a spike to the 2p range a distinct possibility.

I would also agree that the share price will be going nowhere fast without a sale of an asset as there is no value driver in RRR at the moment and of course sentiment at an all time low.

As far as "lining something up" is concerned, you probably saw my posts last week in regard to RSL. I seriously believe AB has something lined up over there and will be planning on using RRR as a vehicle to subsidise it, who knows, if it has the same effect as the D-Bar announcement last year then it could be good, however I would prefer to get our own house in order first and also understand what is happening to the MFP loan cash ???

[kezman01] 20/2/2014 12:40

LADESIDE

The share price prior to announcement was .96 and on the day it closed at 1.43.

There were 1,026,137,800 shares in issue at the time given a market cap of £9.8m pre announcement and £14.6m post announcement.

From the day the potential sale was announced to the last fund raise, RRR have raised roughly £4m by issue of equity.

Today there are 1,568,846,744 shares in issue @ .4 = market cap £6.3m

The £4m raised excludes funds raised from the sale of JMS shares which had to be sold to pay off loans, as they were secured against said loans.
Not knowing how the £4m was used, although some was for 'working capital', it is not possible to ascertain whether or not the nett funds raised have in any way added value, or have just kept the lights on so to speak.

Therefore if the sale goes ahead and the funds received are , say £6m , you could argue the share price should roughly be back to where it was albeit the end source of the funds are unknown ( will debt be further reduced, or will a new venture appear?)

The obvious question is what happens if the deal doesn't go ahead. Where is the value driver to get the share price back to where it was 15 months ago ?

That probably doesnt answer your question but to me unless there is either a miraculous recovery in the sector or GL/EL Limon are sold I can only see the share price going in one direction.
BWTFDIK

[martyn9] 20/2/2014 12:32

Anyone know what happened to bunky? lol

[soulsauce] 20/2/2014 12:07

Anyone know what happened with Ariel Pts sorting out Kansai?

[kezman01] 20/2/2014 11:51

Anyone know what happened to the Anglo Pacific shares from 2012 ?

[ladeside] 20/2/2014 10:53

Let's try another serious question and see what responses we can get.

Ok, The first few weeks and even months that the Greenland deal was announced, there appeared to be lots of activity and one had the impression that the "mystery investor" was moving things along at pace and was eager to have the deal concluded, however in the past 6 months it all appears to have stalled completely.

What changed ?

I appreciate that 12 - 15 months ago Greenland had lots of media attention and was being heralded as the new unexplored province which would yield great riches etc and this has all appeared to have gone quiet over the past few months.

So, I would ask has the "mystery investor"'s interest cooled ?

Are they REALLY still seriously interested ?

Or, as per recent "auntie" posts, should we realistically as shareholders forget about Greenland and hope some new project comes off ?

I await eagerly, any sensible responses.

[bam bam rubble] 19/2/2014 19:34

The so called in-house media unit actually has ECR on their roster (of just 2 companies).
Though likely due to a past involvement with miningmaven rather than any possible linkup.
hxxp://adamstreetproductions.com/products/4579431510

[ladeside] 19/2/2014 18:31

kezman,

I believe most genuine holders would just like some clear and definitive news from the company, no open to interpretation statements, no talk of "cherry blossoms", no more blaming markets or hoping that JMS etc can get a sale.

What we all need is for AB (or someone) to get a grip of the company and drive us in a direction rather than "hope" things work out well. Personally I would also prefer it to be "laid on the line" as it were in relation to where we actually stand and what our realistic prospects are, as honestly, we've had no real direction given for a couple of years now.

In respect to LSE posters, there are clowns on both sides of the divide, of that there is no dispute, however characters who appear on a daily basis talking down peoples investments and basically laughing at them deserve a right rollicking and are an absolute disgrace in my opinion.

Personally speaking I believe the likes of "seingred" is one of the few genuine posters as he calls it pretty straight most of the time and I can personally vouch for madpat as I have met him, although who can vouch for me ?

Anyway, I don't think ECR is a good example of a company to which we should be aspiring, as personally I don't rate them and if I did I would have invested there rather than here. No it's long past time for action here and I only hope for all holders sake that AB has something up his sleeve which will drive this share price back to respectable levels.

[ladeside] 19/2/2014 16:53

I must admit that presuming Aunt Ettie is Natasha, it does appear quite worrying that reading between the lines Greenland certainly doesn't appear to be imminent.

I have mentioned it elsewhere but there are two ways of looking at RRR currently, and that is either through the eyes of an investor or through the eyes of an employee.

As an employee things probably look ok, nothing much happening but costs now under control, quite a bit of debt repaid and a vehicle to raise further funds through Seda. So, all in all just a waiting game until something comes along or the market changes.

However as an investor who is currently down tens of thousands of pounds, then things don't really look to great, especially when you require a 350% rise just to break even. Reducing debt through further dilution isn't going to provide this sort of increase, neither is starting from scratch and mothballing the likes of Greenland and Kenya.

I really do hope that AB has some sort of plan to get our mcap back in the £15 million + range, however reading the "aunt ettie" posts doesn't really fill me with confidence.

[kezman01] 19/2/2014 16:04

I've posted the whole conversation in an earlier post (4205), I'm not trying to mislead anyone.
The fact is the deal cannot be considered imminent ie about to happen.

[ladeside] 19/2/2014 13:45

I now see what you have done Kezman in regard to "direct quotes" and out of context.

"We are a long way off having to make a decision re a field season" is completely different from "we're a way off".

Wouldn't you say ?

[ladeside] 19/2/2014 13:38

If what you have just posted is true Kezman, then the company are a total disgrace.

As your well aware I am one of the "imminent" brigade, however I have taken that view from the only information available to me which is my interpretation of official releases.

Unfortunately I have received no private and personal communications from the company so I would be seriously worried if you are receiving information which is stating "we're a way off" & "no significant progress made" as that is the exact opposite of the tone of official releases and is most certainly price sensitive news.

[thailand] 19/2/2014 12:51

Thanks for that Newbie,just sold the house and put the lot into CAZA,thanks for the tip.