Red Rock Resources Share Discussion Threads

[kezman01] 13/8/2014 17:28

1. A lock in agreement is not an agreement to sell/buy......FACT.
2. Pure supposition.

[bam bam rubble] 13/8/2014 17:23

When the period expires either side can pull out.

There may be a penalty on RRRs side for pulling out in the form of a break fee.


The £60k is Red Rocks

The RNS didn't state it as a net inflow to RRR, as such the cash may be for use
to cover costs at operating company level rather than RRRs use at the plc level.
To cover the metallurgist's visit/onsite work/desktop study to give one example.

[kezman01] 13/8/2014 17:04

There are always legal fees involved in drawing up contracts and negotiating T & C's. The recent extension for example......and I expect Ariel Partners get their cut.....everything has a cost attached.

[biffbaffboff] 13/8/2014 16:31

I'm not sure why there would be any legal fees involved, not yet anyway until DD is completed and then we will instruct legal team.

[kezman01] 13/8/2014 14:53

BBR

That doesn't make sense.
The DD expense is down to the potential purchaser not Red Rock.
The exclusivity (lock-out) agreement is in place to prevent RRR negotiating with other potential purchasers.
When the period expires either side can pull out.
The £60k is Red Rocks, although I would imagine there are some legal fees involved.

[bam bam rubble] 13/8/2014 13:21

In most cases the deposit paid by a proposed buyer will cover pre-sale expenses;
due diligence/consulting/legal costs. For example, RGM's Sudan acquisition had a
45-day exclusivity period which involved the payment of a non-refundable $50,000
"to cover the expenses of due diligence".

i.e. it spares the seller from that expense but doesn't result in any cash inflow.

[rrrrrrrrr2] 13/8/2014 13:08

Not sure why you are loling. I have stated a fact that we have $100k. That's fact, what we do with it is speculation. I can speculate too and say that it is looking good for completion, or the very very least, the offerers want to complete after the non refundable charge. It's pathetic how you twist things, perhaps it comes with being twisted oh and bitter. Lol lol lol lol lol.

[soulsauce] 13/8/2014 12:06

rrrRRRrrr lol, so we have raised at circa .022 as the Colombia deal has not gone through. How much of that $100k is really free? Very little I would say.

[kezman01] 13/8/2014 11:45

Are you saying Red Rock won't be using that money unless the deal falls through ?
Really ??? Lol

[rrrrrrrrr2] 13/8/2014 10:38

Kezman. Assuming the deal doesn't go through that is. It's still 60k for nothing. Nothing you can say will stop that fact.

[kezman01] 13/8/2014 10:08

100,000 usd which equates to £60,000.
Yep,that should be enough to pay some wages or some of the interest due on outstanding loans.

[rrrrrrrrr2] 12/8/2014 20:31

Bam bam. Well we have already received 100k. So if they pull out we have 100k for nothing.

[bam bam rubble] 12/8/2014 20:02

rrrRRRrrr, an offer hasn't been made yet so a bit early to consider it a done deal.

[fangorn2] 12/8/2014 17:03

Who's commenting that isn't holding then RRR?

Are you sure we wont have already spent the Colombia money by the time we get it??
(ie We'll have spent it "in advance",upon receipt we'll be paying back whoever we borrowed from)

[rrrrrrrrr2] 12/8/2014 16:55

Bam bam. We will have the money from Colombia by then. Don't worry your pretty little face about it. It's amusing how those not holding are more concerned than those holding.

[bam bam rubble] 12/8/2014 16:12

£50k placing inflow won't go far, probably sets up another round next month.

Existing authorisation is enough to raise c.£150k in addition to converting
the rest of YA's bond. Selldowns take 3 weeks so may see downward pressure
after the first week of September through to month end.

[atino] 12/8/2014 11:04

Where's MikeStamp gone ???:-))

Mike - "THE CRUSHERS NOT WORKING !!!" LOL HAHAHA

VIDEO -

[atino] 12/8/2014 10:57

Review of Dr. Stewart A Jackson's background:

Dr. Jackson is a long time exploration specialist. With his public Company, Crown Resource Corporation he discovered and initiated production from multiple gold discoveries totalling several million ounces in Washington State, USA, including the current Buckhorn Mine of Kinross Gold Corp.

He was involved in the acquisition and exploration of multiple gold and silver deposits in North, South and Central America, the Philippines, and Indonesia. He acquired and delineated a major uranium, molybdenum, nickel and vanadium resource in Sweden, and was instrumental in the advancement of the Turnagain nickel deposit in Northern BC, Canada, from a prospect to the status of a very large nickel resource. In addition to metals exploration he has been involved in
a broad range of exploration fields, including oil, gas, industrial minerals, and diamonds.

Dr. Jackson is a Professional Geologist in the Province of Ontario, Canada. He holds a B.Sc. in Geology from the University of Western Ontario, an M.Sc. in Stratigraphy and Mineral Deposits from the University of Toronto, and a Ph.D in Stratigraphy and Economic Geology from the University of Alberta. He is a member of several scientific and professional organizations and
has authored several geological papers."

SUMMARY OF CURRENT ASSETS OF HI HO SILVER RESOURCES INC.
Hi Ho Silver Resources Inc. holds several mineral properties which are profiled here for reference:

1. Fairview Gold Property, Oliver, BC , Canada Inferred Resource of approximately 30,000 ounces of gold and 190,000 ounces of silver in a near surface underground configuration readily accessible for planned bulk sampling and ultimately production. Substantial upside exploration potential.

2. Grassett Dome Prospect, Northwestern Quebec, Canada.
Prospective ground for nickel, copper, zinc, gold mineralization adjacent recent major nickel‐copper‐platinum group element discovery of Balmoral Resources Inc. The Balmoral discovery contains a mineralized unit approximately 100 meters in width including an intercept in DH GR 14‐25, which included 45.3m@1.79%Ni, 0.19%Cu,A532;0.42g/t Pt, 1.04g/t Pd. Major tonnages are anticipated in this discovery.

3. California Placer Gold Prospect, Central California, USA
Prospective limestone landslide system with gold in the interstitial finer fragmentals. Minor silver and gold mining historically in the area by hand methods. Evaluation beginning.

4. La Ronge Gold Prospect, Saskatchewan, Canada
Mineralized gold belt with multiple historical holes containing visible gold. Initial drilling started, and programed for future.

5. Slocan Silver Prospect, British Columbia, Canada.
Silver , lead, zinc prospect in the Slocan silver belt, south‐eastern BC. Historical mining area.

6. Cherryville Gold‐Silver Prospect, Eastern BC, Canada
Hard rock silver prospect in an historical gold placer area. Exploration planned.

7. Molybdenum Prospects, British Columbia, Canada
Several molybdenum prospects located along the western flank of British Columbia molybdenum belt. Prospects require additional work.

[fangorn2] 12/8/2014 10:54

After a golf mine? Of course they are - a highly unprofitable one it seems as we've thrown more cash at it than we will get when selling it.

You know what happens to companies that persist with this modus operandi right RRR?

[atino] 12/8/2014 10:50

Hello 'Ascot Mining' ^__^ (...we haven't heard from you in a while:-)))


[Quote] Dear Recipient,


Hi Ho Silver Resources Inc. ("Hi Ho") is sending this letter to known shareholders, creditors and other interested parties in relationship with our intention to finance Ascot Mining Plc ("Ascot"). This is an one-time mailing and unless expressly requested you will not be contacted again.

Hi Ho Silver Resources Inc. as you may know has attempted to finance the purchase of Ascot Mining Preferred Shares but its efforts to date have been thwarted by various obstructions including the illegal occupation of the Chassoul mine in Costa Rica, which occupation has made it impossible for Hi Ho's potential funders to gain access to the property to undertake a site inspection necessary to confirm already expressed interest in completing an investment sufficient to resolve all outstanding financial issues. The blocking of Hi Ho's efforts has been costly and frustrating.

On behalf of Hi Ho Resources therefore; I would like to propose a solution to unsecured creditors and shareholders of Ascot Mining PLC to protect their financial interests by reactivating operations of the Chassoul Mine of Ascot Mining PLC ( in Administration). Please review the attached letter and advise your level of interest in this proposal.


Respectfully,


Stewart A. Jackson, , PHD., P.,GEO

[kezman01] 12/8/2014 10:44

Whatever you say.....we'll see.

Showing your ignorance on the LSE board as well I see.
It's ALL about expense, sweet FA to do with quickness.

[rrrrrrrrr2] 12/8/2014 09:55

Kezman. Yet here you are putting together a bizarre situation. Do you think the buyer even know about little old RRR on the AIM market? They are after a golf mine in Colombia. It's bizarre how naysayers will absolutely turn everything into a negative. Who are holding the 3.5% of shares in the register currently with ya name on it?