Red Rock Resources Share Discussion Threads

[malcolmrigsby] 08/5/2014 22:32

On lse i can remember Daniel saying that when he had 96 million shares they had cost him a total of £485,000 (he said his average was 0.51p), so with his recent 14 million extra shares he must've now have spent well over half a million.

I can't imagine AB would ever want Daniel on the board because if Daniel saw close up that AB was an incompetent bufoon obviously being heavily invested he would want AB out. But then again i'm sure AB has arranged it for himself that if he is ever forced out he will get a massive pay off that'll ruin Red Rock.

[nash81] 08/5/2014 15:36

"Atinos auntie Ettie"

If AB being smart and do placing at share price above 10p back then, rather than small placings (or in your word - drawdown) sub 1p with YA, then yes, its something to be proud off.

If AB being smart and stop spending beyond cash available (ie not going into debt) then yes its something to be proud off. DONT SPEND if you do not have cash. sell/jv in greenland or ramp up production in columbia to generate POSITIVE cashflow first, before spending more in new venture such as Cote etc (which then depleting cash and ended up placing/drawdown for more cash!!)

good company like RRR can be successfull when we have smart long term shareholder like d_s, and RRR can also be successfull when we have a smart director !!

yes, pls pass my opinion above to AB...
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Atinos auntie Ettie 8 May'14 - 12:06 - 4680 of 4688 0 0

If the one who is keeping plates spinning is manhandled, the consequence of a mid-act disturbance could be for plates to come crashing down. Red Rock Resources is a good company and worth working for and a message forum does not speak for the majority. The few who lost on the dips may well be outnumbered by those who made their fortunes on the upswings, which have been bountiful. If Daniel had invested at the beginning of 2010, toward the end of that year Red Rock would have made him a millionaire five times over. That opportunity is there once again, have faith and hold for rewards

[atino] 08/5/2014 13:12

"Gently" does it now Seagul:-)

it's important that AEE (as a shareholder) recognises the resentment & frustration in both sets of stocks (..if he isn't already aware of it!) ^__*

[seagullsslimjim] 08/5/2014 12:41

Ettie - bit early for you to light up the daily crack pipe and post your deluded patrionising spiel !

[affemoose] 08/5/2014 12:27

"The few who lost on the dips may well be outnumbered by those who made their fortunes on the upswings"

"few" - replace with "many" and now factor in that anyone who did get out at a profit is NOT your current shareholder and what are you left with?

Empty words.

[atino] 08/5/2014 12:22

...it feels kinda weird...talking my own name! LOL:-))

[atino] 08/5/2014 12:20

'Atinos Auntie Ettie'...I really do 'luv you' man ^__^ (...ur optimism is great dude:-)

...the 'opportunity' may be there to become millionaires (once again:-)...but what about all those shareholders whom have kept faith, supported the company...SUFFERED & made LOSSES ???

Rises can happen in a flash of second...but it is the gradual DECLINE...which is the most PAINFUL & SLOWEST to bear!...(pssst! it can lead to...MANY MORE 'trapped'...& vulnerable 'INVESTORS'...than 'millionaires' !!!)

[atinos auntie ettie] 08/5/2014 12:06

If the one who is keeping plates spinning is manhandled, the consequence of a mid-act disturbance could be for plates to come crashing down. Red Rock Resources is a good company and worth working for and a message forum does not speak for the majority. The few who lost on the dips may well be outnumbered by those who made their fortunes on the upswings, which have been bountiful. If Daniel had invested at the beginning of 2010, toward the end of that year Red Rock would have made him a millionaire five times over. That opportunity is there once again, have faith and hold for rewards.

[affemoose] 08/5/2014 11:53

Minor miracles Atino, we agree!! After all these years ;-)

[atino] 08/5/2014 11:45

"Ditto" Affe:-)) (...Pheck me fella!)... I've just said...pretty much the same thing...but in a few words! LOL ^__^)

[affemoose] 08/5/2014 11:43

I cannot see how the company can run if AB remains involved, his shadow would loom too large.
TBH, the whole board should go. They add no value, that has been proven for a long time now. Strip the company down to the minimum required to keep costs low.

Agreed re: Merge the two companies. Lets face it, the only one to benefit from the split was the BoD who picked up 2 salaries instead of 1. THAT's MAGIC!!

PLUS... magically, RGM holding so much RRR stock gives anyone a really hard time to EGM RRR BoD out. It's was a stroke of genius really ! :-)

Get rid of dross projects:
Somalian Potash? Yeah right - bin it. Somalia, Sudan wherever it is, it's flakey and a complete zoo - not worth any effort. Nobody serious will invest Billions in the Horn of Africa.

Kenya - Bin it, worth nothing, never has been and the relationship with MMM and Bruce has always been toxic. Utter waste of money. Even the mine next door has been put on Care and Maintenance because they cannot make any money.

Nickel Laterite - and the Direct Nickel system. Get this reviewed hard because it doesn't seem to be going anywhere. I like the idea of the laterite but the DNi stuff looks fanciful, but it's not my area, so will defer judgement.

Greenland - Take anything for it - nobody in their right mind will mine new Fe in the Arctic Circle for aeons to come. I know someone did it in Banff but so what, different world now. There is billions of tons of dry, easy, high quality Fe in Australia - why mine an iceberg?

Ivory Coast - fanciful nonsense, millions to spend to prove up resources, drilling etc. Don't have the cash. Plus...not the most historically stable area is it?

Mt IDA - good luck with that, no infrastructure available. Jupiter with it's Aussie roots chose not to contribute into rail and port expansion, so if they do not think it's worth a jot, why should we?

Colombia - Issue here is that nobody knows if it's worth the effort. No idea if the gold runs out 1 inch beyond the current face. Whoever did DD on this and bought into it as a company changer is mad.
Hire a really good Australian or South African Hard rock miner to draw up a plan to get to Feasibility Study stage. Ask the hard questions - Is it worth the money to invest to drill out and explore, money to expand and improve infrastructure etc???
If so - hire an experienced miner to run it and prove it up.
If not - mine it while it produces cash, when it stops being profitable (if it hasn't already) then dump it.

This leaves you with JMS share holding (good - keep it as collateral) and...

Future strategy:

Hire a decent CEO with experience in getting a mine up and running profitably - talk to Jan Nelson in XTR, he's got the T-Shirt and is respected, talk mergers with them also. get a working mine, a skilled miner as CEO into the bargain.

Will Jan get XTR to work? Hard to know right now but he has a mine, and is bringing it on stream. I hope he does - ask me in 12 months time. But IF he does - you have to ask WTF RRR/RGM have been doing for so long and achieving so little.

Get another small mine, use Jan to straighten it up and make it profitable. Use the cash flow to........Go to Chile, Western Australia, Pilbara, and focus. It's there, the skills are there, the infrastructure is there, it's stable.

No more fly by night whimsical nonsense involving Icebergs, imaginary Venture Capital companies and steam jungles 'paved with gold'.

Rant over - good luck with pooping nuggets Atino.

Affe

[atino] 08/5/2014 11:38

Very vaguely (as a group we must 'downsize'!):

Good bits to keep in RGM:
- DNI (...could be a monster, because it could act as a 'big brother' like Jupiter once did for RRR, if they're successful:-)
- Ram resources (Fraser Range...because Australia is buzzing over the Nova desposit)
- Mambara (...because drilling has been done & it could be proven 'economic', if DNI are successful)

Good bits to keep in RRR:
- JMS (Tshipi)
- Colombia (...only because we invested heavily in it & are in the process of selling it!)
- Greenland (because work/drilling has been already been done on it & we need to monetise it!!)

THE REST...'trash', or look to liquidate funds somehow !! (I.e sudan, soggy cornflakes, Mid Migori, RSL, Ivory Coast, Ascot, to name a few...must go!) all IMO:-)

[atino] 08/5/2014 11:17

...that's my point Mike !

...if you have ONE company (..and he's not at the 'top' if EITHER company, as currently is!)...THEN HE CANT DO IT - CAN HE ??? ^__*

But feel free to keep him at the 'top'...over at RGM...if you like [with his 'millions'!!!] (LOL)...I want 'change' on Planet Rock:-) And right now m8...I'm getting MORE confidence from Dan...than from OUR current BOSS !!

[mikestamp] 08/5/2014 11:12

Why on earth would he do that when he can cream 'working capital' from both.

[atino] 08/5/2014 10:50

Bob's your uncle..'Job done'! ^__^ (LOL)

[atino] 08/5/2014 10:41

I would personally like to keep Andrew 'on'," in some capacity (because he still he has a lot to offer, I believe:-)...[and it would be 'stupid' to get rid of him totally!!]

But that's not a bad idea Roger:-) Both companies need a new 'vision/direction' & a change of 'image'....

[roger ring] 08/5/2014 10:32

Maybe AB could stay as Chairman on a vastly reduced salary, and get a dynamic, younger CEO in and merge the two companies.