Red Rock Resources Share Discussion Threads

[atino] 18/6/2014 12:55

RRRensch...

[Quote] "Nyanza gold miner plans to raise Sh8m for expansion"

A firm prospecting for gold in Nyanza is looking to raise 100,000 Canadian dollars (Sh8.1 million) through a private placement.

African Queen Mines joins a list of miners seeking cash to expand their operations in Western Kenya. The company is exploring for gold in Rongo constituency, Homa Bay and Ugunja, Siaya counties.

"African Queen Mines Ltd is pleased to announce a non-brokered private placement offering to raise gross proceeds of up to Canadian dollar 100,000. Under the terms of the private placement, the company will offer for sale up to 2,000,000 units at Canadian dollar 0.05 per unit," said African Queen Mines chairman and chief executive Irwin Olian in a statement.

The exploration firm said that the money raised will be used to improve its working capital and fund other activities. The firm also has exploration interests in Ghana.

The Canadian firm joins UK's Red Rock Resources which raised Sh85 million through equity and a convertible bond in May.

Red Rock, which is exploring for gold in Migori County, said it raised the money to improve working capital.

Mayfox Mining plans to list on the Nairobi Securities Exchange by the end of the year to raise capital for further exploration at its Turkana sites.

Stockport Exploration, a listed Canadian mining firm looking for gold in Western Kenya, raised about Sh142 million in 2013 for prospecting through a share sale. Stockport sold shares to Kenyan institutional and sophisticated investors.

African Barrick Gold and Goldplat are other firms exploring for gold in the region.

Data from the Economic Survey 2014 shows that Kenya earned Sh7.4 billion in 2013, down from Sh13.92 billion from the year before due to a fall of prices on the international market.

hxxp://www.businessdailyafrica.com/Nyanza-gold-miner-plans-to-raise-Sh8m-for-expansion-/-/539552/2352038/-/1wqd4cz/-/index.html

[atino] 18/6/2014 12:35

EXCELLENT ^__^ (...sounds promising - cheers my hearty:-)...lets look forward to the '5' big ones:-)))

[rrrensch] 18/6/2014 12:23

Just been posted on Twitter - nothing to get excited about though:

Red Rock Resources ‏@RRR_RedRock · 5m
Hi @19_Gazza_84, the RRR board has made a strategic decision to dispose of the asset in order to generate (cont)

Hi @19_Gazza_84, the RRR board has made a strategic decision to dispose of the asset in order to generate cash to run the business and fund exploration. Obviously that choice had to be compared with keeping the mine and trying to do the same utilising cash flow from there. The decision was made based on this comparison. (twitlonger)

[atino] 17/6/2014 09:50

Dimmer - don't get me started AGAIN !!

"rrr has no future & ability to raise cash" WTF?? (...you 'REALLY' wanna check out RGMs ability to raise cash then!!!!)

The only form of LOAN SECURITY that RGM will get....is against their 'RRR shares' *__^ (...hopefully that TELLS YOU a lot about RRR...and ITS financial position compared to RGMs! LOL)

[atino] 17/6/2014 09:47

Excellent - we have a 'bounce' forming:-) ^__^...and why?

(IMO) All because...JMS said they were valued at 0.21cent - (so 'technically' speaking...there should be a level...in which the RRR share price, SHOULDN'T falling below:-)))

[...here's hoping anyway:-]]

[dimmerginger] 17/6/2014 09:22

Rrr really have no future here imo. Their ability to raise cash is limited and i worry that suspension isn't far away and indicators are leading to that. hope i'm wrong guys.

[johndee] 16/6/2014 20:16

Which school did Atino not go to?

[soulsauce] 16/6/2014 18:29

'do so at ur pearl' lol.

[atino] 16/6/2014 18:19

John...(if you wish to 'lock horns' & engage 'properly)...then do so, at ur pearl !! I'm 'kindly'...firing a 'warning shot' across...as I have a duty of obligation, to tell shareholders, that:


'My Atino'...WILL eat 'YOUR AVATOR', FOR BREAKFAST:-)



Next time m8 - you will NOT receive such 'kind'...PRIOR NOTICE !!

[johndee] 16/6/2014 18:01

Atino

Did you not notice, RRR was down more than double the percentage of RGM today. RGM floats a bit while RRR swims like a brick.

[atino] 16/6/2014 17:44

Kez/soul/sea (& co)...where are u guys? (...ur preferred stock...is under 'ASSAULT' ^__^)

[knoblet] 16/6/2014 17:04

They're coming to take him away ha ha

[steve1905] 16/6/2014 16:51

Yes fang, I remember his previous rantings and setting up his own thread.

[fangorn2] 16/6/2014 16:30

Agreed. Obviously he isn't taking his medication.
Some strange posters it has to be said - Atinos, Atinos Auntie Ettie who's even more bizarre,and this RRRrrrRRR chap who appears when all around are negative with his positive spin. What happened to that other chap? Dr Hiroshi.

[bones30] 16/6/2014 16:22

Fangorn2 - its bizzare isn't it?

[fangorn2] 16/6/2014 16:22

Steve,

I presume you're talking about Atino who seems to post ever other minute. What he has to say I've no idea as I've had him filtered for a while.

Simply no need for 30 posts, often one liners, on the thread per day.

[atino] 16/6/2014 16:07

or (from the post above)...type in the 'Lease number' (in the 'search' field), in THIS LINK below:

hxxp://www.portal.mra.gov.pg/Map/

(...and it should pinpoint 'EXACTLY'...where the tenements are located on the PNG map ^__^)

[atino] 16/6/2014 15:20

...its ALL TO EASY (for Atino)...to ATTACK 'RGM' Steve...



[just like it HAS BEEN for...a 'MERE FEW' RGM di*kheads...to attack RRR *__^:-]]]]

[steve1905] 16/6/2014 15:13

I wonder if you sit there enjoying your trolling, or you're enraged, slathering while chewing soap

[bam bam rubble] 16/6/2014 14:05

The twitter profile looks genuine to me as it goes back years. The inbox in that tweet also looks genuine. Found this by searching the username;

It was Friday and all the sensible people had left for events and weekends away
from London. What to do? An introducer of one of our projects who I had offended
sometimes giving him a hard time for communicating badly when progress was slow
was available to meet. He is civilised and enjoys a celebration so I told him to
meet me at a nearby bar. We had a bottle of Cava some tapas then another bottle.
We talked about opera and wet the head of a deal of a new business opportunity.
I had another glass and all was well as he left. My daughter then joined in for
more tapas and another glass. By the time I got back to my office it was 2.30am. www.millionairematch.com/blog/Aladdinscave

If that was a 'business meeting' did it go on the director's expense account? Undoubtedly imo.