Red Rock Resources Share Discussion Threads

[fangorn2] 10/6/2014 19:04

"Averaging down is a fallacy. You could put your extra money somewhere else and alter the risk instead of putting all your investment into one company."

Exactly.

Not sure why AAE doesn't understand this simple concept given he's allegedly an ex merchant banker of the Morgan Grenfell persuasion.

[johndee] 10/6/2014 18:53

Averaging down is a fallacy. You could put your extra money somewhere else and alter the risk instead of putting all your investment into one company.

Actually it may be advisable to buy RGM now that RRR has just gone up over 40% in a few days.

[fangorn2] 10/6/2014 18:50

I wasn't speaking for my self Proctologist.

The adage "Don't throw good money after bad" is more apt that Atinos Auntie Ettie's recent pretentiously scribbled drivel.

"You don't need to be a millionaire at the start of a cycle upturn, just a few well chosen positions in companies with half a chance of turning their fortunes around can make a handsome return. "

I've been in this game for 25 years so am well aware of ups and downs of market cycles. Thanks all the same...


Johndee 10 Jun'14 - 18:36 - 4979 of 4979 0 0
Almost like advising someone to keep putting more cash into the casino,you may win big and get back all your money one day. Mugs game or what?

Indeed. It was more the Merchant banking styled prose I was calling into question myself so was surprised at Proctologist's reaction to my comments.

[johndee] 10/6/2014 18:36

Almost like advising someone to keep putting more cash into the casino,you may win big and get back all your money one day. Mugs game or what?

[knoblet] 10/6/2014 16:37

Auntie methinks Danny boy is coming after you so watch out

[wriglet] 10/6/2014 16:04

Atinos auntie Ettie

Lets see RRR add some real value on a per share basis before you start talking about "proof positive".

Regards

Wriglet

[soulsauce] 10/6/2014 14:45

Atinos auntie Ettie 10 Jun'14 - 13:48 - 4968 of 4970 0 0

Proof positive it is always preferable to average down and thus be proactive to improve one's position than to admit defeat and do nothing. Perhaps more could take that example and be proactive to boost their standing. Start today whilst it is still low. Buy into the rise and see where it may take the price.

What a crass and idiotic statement.

[arf dysg] 10/6/2014 14:28

Atinos auntie Ettie (4968)

"Fortitude and determination has paid off. Daniel has been a catalyst [...]
Proof positive"

No. Not proof positive.

If, in a couple of years' time, Daniel makes a profit from RRR shares, now THAT will be proof positive.

However, it will only prove that he made a profit in this case, not that a similar approach would work with another company.

[scruffee] 10/6/2014 13:50

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[atinos auntie ettie] 10/6/2014 13:48

Fortitude and determination has paid off. Daniel has been a catalyst with sufficient firepower to move markets, more importantly he's a wonderful human being and it is no exaggeration to say is a treasure to have on the share register. With an average not too far north of the current price it would only require a modicum of purchasing for Daniel to reach parity, his buying phase would then be past and will enjoy a low base for the coming harvesting phase whereby Colombia is sold on for proceeds and pending licensing, work shall get underway in the Cote D'Ivoire. Proof positive it is always preferable to average down and thus be proactive to improve one's position than to admit defeat and do nothing. Perhaps more could take that example and be proactive to boost their standing. Start today whilst it is still low. Buy into the rise and see where it may take the price.

[arf dysg] 10/6/2014 10:52

Johnny Vagas is probably visiting Vegas right now.

[tpau] 10/6/2014 10:33

Holding up well, my others are red

[bunky3] 10/6/2014 10:01

Vegas maybe. Don't know where Vagas is!!

[mikemichael2] 10/6/2014 09:55

Bloody hell, Bunky !! Thought you were dead ! Does this mean the Vagas trip is still on ??

[cernunnus] 10/6/2014 09:47

Looks as though,the company is on the turn. Whats good enough for danny boy, is good enough for me!
GLA

[cernunnus] 10/6/2014 08:27

Dan sklans interest in RRR
Red Rock Resources
Red Rock Resources plc is a mineral exploration and production company primarily focussed on the discovery and development of gold and iron ore. The Company invests in projects and opportunities where it can enhance the value of the assets through exploration, development and corporate transactions.
Full Red Rock Resources profile here
Red Rock replenishes project pipeline with gold opportunity in Ivory Coast
By Giles Gwinnett March 04 2014, 10:39am 'Our initial findings in Ivory Coast have shown the prospectivity of much of the local geology with a number of interesting targets already identified, in what is one of the newest and most prospective gold mining countries, in the centre of the Birimian greenstone belt.'"Our initial findings in Ivory Coast have shown the prospectivity of much of the local geology with a number of interesting targets already identified, in what is one of the newest and most prospective gold mining countries, in the centre of the Birimian greenstone belt."
Red Rock Resources (LON:RRR) has replenished its early stage exploration pipeline - as it unveiled a new investment facilility to develop a gold project in the Ivory Coast.
It came alongside news that it had completed a private placing with high networth investor Daniel Sklan, issuing over 21 million shares at 0.38p to raise £80,000 - a 3.8% discount to yesterday's close of 0.395p.
Separately, the firm has struck a funding deal with Sklan, in which he will provide £100,000 to be made to support gold exploration in the firm's new Ivory Coast Gold Project (ICGP). Red Rock can draw down funds in tranches, with none to exceed £20,000.
Sklan will receive a gross revenue royalty of 0.6% on any production that occurs from the ICGP, said Red Rock.
The company's chairman Andrew Bell said: "The 28% fall in the gold price in 2013, and decline in exploration activity in the sector, makes this an opportune time to replenish our project pipeline.
"Early stage exploration is an area in which we have significant experience, and is also one of the least capital intensive activities on which we can focus our efforts in 2014.
"As we have successfully progressed several of our projects in recent years, our early stage pipeline has become depleted, and some other projects may not require active exploration this year.
"Our initial findings in Ivory Coast have shown the prospectivity of much of the local geology with a number of interesting targets already identified, in what is one of the newest and most prospective gold mining countries, in the centre of the Birimian greenstone belt."
Bell also welcomed the investment from Sklan, saying it demonstrated faith in the company's exploration prowess.
"While much of the last year has been spent in extended asset sale negotiations, where we have sought to crystallise gains and lay off risk where possible, this project brings the core focus of exploration back to the forefront of Red Rock's activities," he said.
Looks like we are on the move.
GLA

[steve1905] 10/6/2014 07:35

Well he either going 'full tilt' or Bell's sold him some snake oil

[gamesplayer] 10/6/2014 07:31

Looks like Dan Sklan's trying to get to 10%.
From there will then be interesting.

[bunky3] 10/6/2014 07:21

Been a busy boy on other shares of late. Sold most of my rrr at .6p average but bunky is now coming back to its beloved rrr for another crack. Why the hell not!!