Red Rock Resources Share Discussion Threads

[mikestamp] 13/5/2014 20:11

rrr, what assets ??

[rrrrrrrrr2] 13/5/2014 19:50

Kezman. With the same respect. It is not 2010. Mining is in a slump now. Out mcap is shot to pieces. I still believe in the assets though. So I continue to buy. You guys cannot have it both ways though. You lot have been stating Colombia is worthless and now with the whole mine being valued at $10 million, you say it's not enough.

[soulsauce] 13/5/2014 19:45

Flawed - floored just like it's shareholders.

[kezman01] 13/5/2014 19:43

rrrRRRrrr2

With the greatest of respect are you deliberately missing the point ?

In 2010 El Limon was being punted as the buy of the century with untold potential, and was to generate enough income to leave an share price in the teens behind for ever.
150 tpd was the target from memory, pictures of the first gold production were posted for all to see.....happy days indeed.
Fast forward 3-4 years (ignoring all the BS spouted about improvements etc) and the proceeds of sale will cover the outstanding loan and at best appx 30% of the initial cost of the mine.
Bearing in mind that it is also being held as security for a YA loan, please explain how this is good business.

Furthermore if the above is an example of RRR's business model , would you not say that it is somewhat flawed ?

[hopeless698] 13/5/2014 19:23

The Price of Gold is forecast to go through the roof in the not too distant future so maybe it would be a good thing if the colombia deal did fall through?

[rrrrrrrrr2] 13/5/2014 18:51

So more than the 0 you said then.

[bam bam rubble] 13/5/2014 18:36

The value of the mine remains uncertain even if it completes as the consideration
is so low it may be being bought for equipment resale value rather than as a mine.

The terms are for a buyer to acquire the 50% joint interest in Four Points Mining
for $1.2m (£0.7m) and accelerate the repayment of RRR's loan receivable of $2.8m.

It will mean another half million or so impairment to RRR's accounts, even though
the assets were already impaired by several million last year. Not so great then.

[rrrrrrrrr2] 13/5/2014 17:56

Bam bam. So effectively it is a lot more than the 0 you said it was worth. Great.

[staffiex] 13/5/2014 17:37

He is - p/x on the colombia deal.

Maybe he can chuck in some Ayahuasca treatments for his poor PI's...

[roger ring] 13/5/2014 17:24

Andrew sounding a lot more dynamic than of late . . . could be on drugs :-)

[bam bam rubble] 13/5/2014 15:31

More a bringing forward of RRRs loan receivable than a cash generative disposal

The receivable by Aug 11th 2014 (2013 balance plus 5% interest) will be £1.720m
Whereas the terms of sale is for RRR on closing to get £1.275m after commission

Leaving £0.445m still to recover to recoup in full, payable a year after close,
alongside a further sum of £0.445m ($750,000).
That surplus sum and the 3% royalty is effectively what RRR gets for the mine.

Adding the loan to make it seem a better deal is a poor show but to be expected

[staffiex] 13/5/2014 14:29

"which companies have shown a record of outperforming when the market recovers? which companies have sound foundations at this level? which companies have some really good assets? which companies are perhaps in gold as its the easiest thing to get moving? We qualify on all of those. We have a record of discovery, a record of producing resources, a record of bringing a mine into production, a record of putting together with Jupiter a constellation of parties that have brought one of the world's greatest mines into production..... and now we're doing some exciting new exploration in one of the hottest areas there is in the Ivory Coast and we have a good team that is good at exploration."

What a total load of fanny. Funny how he didn't mention his record of what he's done to Road Reck's Share Price...

[darren81] 13/5/2014 14:26

at least he's gauranteed his salary for another 3 months with the 50k

[staffiex] 13/5/2014 14:10

more guff from the bellend that sounds just like Greenland... What's the betting this 'deal' never goes ahead?

[nash81] 13/5/2014 14:07

RRR

news getting out:
hxxp://www.miningmaven.com/companies/aim-mining/red-rock-resources/red-rock-resources-colombia-update-interview-with-chairman-andrew-bell-20140513392/

[staffiex] 13/5/2014 14:06

"Like for like we think we are able to sell oranges at a good price to buy apples, we hope, at a better price...."

Selling Lemons morelike, Andrew, you Johnny.

hxxp://www.miningmaven.com/companies/aim-mining/red-rock-resources/red-rock-resources-colombia-update-interview-with-chairman-andrew-bell-20140513392/

[bad robot] 13/5/2014 11:56

Mickey Chunt face

[kezman01] 13/5/2014 11:37

Does anyone know how much the total outlay for Colombia amounted to ?

[mikestamp] 13/5/2014 11:17

LOL.........LEECH.

[kezman01] 13/5/2014 10:56

Two things of interest from the 2013 report & accounts, which should be taken into account when digesting todays RNS.
DO THE MATHS.

1. The loan due from Helm Bank Panama is recorded as £1,629,198.
When you add on interest at 5% (£81,460 ) the amount due is about £1,710,658

2. All of the shares in AGM( plus others) are held as security against a YAG loan


Todays RNS. Forgive me for being cynical but I have excluded the royalty. Feel free to crunch the numbers ( good luck with that one) and add the total to the pot.

Tranche 1
$US 2.5 m = £1,481,657.50
7% comm. = (£ 103,716.03)
Nett payment. = £ 1,377,941.47

Tranche 2
(satisfied by the issuance by NMC to Red Rock of a non-interest bearing promissory note (the "PN") due and payable on or before the date that is one year from the closing. Security for the PN will be held in the form of a charge over 100% of the shares in AGM)

$US 1.5m. =£888,994.50
7% comm. =(£62,229.62)
Nett payment. =£826,764.92

Total received by Red Rock = £2,204,706.39