Red Rock Resources Share Discussion Threads

[torp] 07/8/2019 13:21

A shame Mt Ida is mothballed and has been since 2012 !!

[noirua] 07/8/2019 13:21

What ever people have to say it is gold that is an interest to be in. Red Rock have three ways in via Mid Migori, Para Resources and El Limon gold royalties. It's the place to be and one RRR are in.

[kemche] 07/8/2019 13:21

Now that DRC is old hat we can finally concentrate on Mt Ida.

And Steelmin.

[kemche] 07/8/2019 13:20

It's all about Mt Ida now.

And Candy Sweets.

[torp] 07/8/2019 13:18

Dire cobalt situation also predicted long ago here:




"In the case of cobalt, supply will exceed demand by 652 tons this year, and that will widen to 20,842 tons next year, Wood Mackenzie Ltd. forecasts. The surplus is expected to send prices tumbling to an average of US$62,502 a ton in 2019, down 23 per cent from the forecast for this year, according to the London-based research and consulting firm. By 2022, the price will average just US$44,585"

Not a time to be mining cobalt it seems !

[noirua] 07/8/2019 13:17

Seriously folks. The rising gold price is increasing value for Red Rock that seems to have got it right in this sector.

Gold price motors on to US$1,497 - augers well for Mid-Migori and El Limon plus Para Resources don't you know. A definite yes.

[torp] 07/8/2019 13:16

Greenland project sold off for just £1
Ivory Coast project gone nowhere
Shoats Creek project being written off
Steelmin went into Administration in February

Now it looks like cobalt mining in the DRC is not economically viable
for the world's largest cobalt mine.

Still the sun is shining and flowers are blossoming and Bell & Co are still
getting their lucrative salaries and expending huge amounts on Admin and other expenses. Can't be all bad eh??!

DYOR

[noirua] 07/8/2019 13:15

Tesla's Megapack Battery Ambitions Could Drain Cobalt Supply -

As electric vehicle production ramps up worldwide, a supply crunch for battery materials is looming -

[torp] 07/8/2019 13:13

Noirua totally desperate here, sad to see.

[noirua] 07/8/2019 13:13

Gold price motors on to US$1,496 - augers well for Mid-Migori and El Limon plus Para Resources don't you know. A definite yes.

Tesla's Megapack Battery Ambitions Could Drain Cobalt Supply -

As electric vehicle production ramps up worldwide, a supply crunch for battery materials is looming -

[kemche] 07/8/2019 13:08

It's all about Migori and Lemon now.

And the money held up in Cyprus.

[torp] 07/8/2019 13:03

Of course this disappointing Cobalt situation in the DRC was forecast quite some while ago.




"Prices slump as 2019 bearishness filters through to international metal market "

"Global cobalt prices came under mounting pressure in December, with the bearish outlook for 2019 and forecast oversupply showing no signs of relenting and sellers rushing to get stocks off their books ahead of the year-end.

[torp] 07/8/2019 13:01

Sad Noirua so very very sad. You really are a boiler room merchant. Shame on you.


GLENCORE TO CLOSE WORLD'S LARGEST COBALT MINE

"Glencore PLC (GLEN.LN) on Wednesday said it will stop producing at its Mutanda mine by the year end and reported a miss of analysts' expectations for adjusted Ebitda in the first half of 2019."

Glencore said Mutanda will continue to evaluate its operations and production at the mine will recommence production once economic conditions sufficiently improve

[noirua] 07/8/2019 12:57

As electric vehicle production ramps up worldwide, a supply crunch for battery materials is looming

[noirua] 07/8/2019 12:54

Tesla's Megapack Battery Ambitions Could Drain Cobalt Supply -

[noirua] 07/8/2019 12:53

Gold price motors on to US$1,493 - augers well for Mid-Migori and El Limon plus Para Resources don't you know. A definite yes.

[torp] 07/8/2019 12:48

Readers should not let shameless ramper Noirua mislead them. He has been caught lying a few times here and is not to be trusted in the least.


The mine in question is the MUTANDA mine not Noirua's stated Amulet.

Noirua claims Glencore have made no announcement yet the very hosting site (ADVFN) that he uses as his personal shameless ramping platform states clearly that Glencore HAS announced this.

Here's the link to ADVFN's own page reporting this which states very clearly:

"Glencore PLC (GLEN.LN) on Wednesday said it will stop producing at its Mutanda mine by the year end and reported a miss of analysts' expectations for adjusted Ebitda in the first half of 2019."

Glencore said Mutanda will continue to evaluate its operations and production at the mine will recommence production once economic conditions sufficiently improve




I guess ADVFN are lying then eh Noirua?


Another article here:




Noirua appears to be pretty desperate about this awful news. Understandably so. He must be hugely down on his "investment" here by now and doubtless will be a participant in any impending placing imho. Either way I learned long ago to totally ignore all his misleading drivel posted here. He will never change his ways.

This latest DRC news isn't going to help any placing get away here imho.

Thank goodness I didn't punt this !!

DYOR

[kemche] 07/8/2019 12:04

It's all about Mt Ida now.

And Candy Sweets.

[noirua] 07/8/2019 12:02

Tesla's Megapack Battery Ambitions Could Drain Cobalt Supply.... then they need to start securing the licenses..... like the Chinese are


Tesla's Megapack Battery Ambitions Could Drain Cobalt Supply


Democratic Republic of Congo accounted for around 64% of global mined cobalt production last year, according to the United States Geological Survey. Tesla’s latest battery will force the company to gain a larger portion of the cobalt supply. Also, Darton Commodities predicts cobalt use in batteries is going to jump from 50,000 tons in 2016 to more than 320,000 tons by the year 2030.

Cobalt Conundrum:Cobalt remains the bedrock of electric vehicle batteries and massive battery packs, albeit with varying composition ratios.

Tesla’s energy storage division already offers two other products including the Powerwall, which is a large battery to power your home and the Powerpack battery system for commercial use.

If we look at the original Powerwall for example, it has a cathode makeup of cobalt, nickel and manganese in equal portions, the new Powerwall 2 has slightly less cobalt.

Tesla’s Model S electric vehicle battery had a cathode compilation of 80% nickel, 15% cobalt and 5% aluminium, according to Small Caps.

[kemche] 07/8/2019 11:55

It's all about Migori now.

And Greenland.

[noirua] 07/8/2019 11:40

There has been no announcement by Glencore, as yet, on the rumour that the Amulet Mine will be closed. It is a very large cobalt mine and if it is closed at the end of this year it will help the price of cobalt at the company's smaller mines in DRC, including Musonoi.

[torp] 07/8/2019 11:22

The news again in case anyone missed it with ramper Noirua posting stupid nonsense to push it off the page




[b]GLENCORE TO HALT PRODUCTION AT WORLD'S LARGEST COBALT MINE[/b]

"Glencore is to halt production at the world's largest cobalt mine from the end of this year following a dramatic fall in prices for the key battery metal.

The Switzerland-based miner led by billionaire Ivan Glasenberg will shut Mutanda mine in the Democratic Republic of Congo, which is also a significant producer of copper, because it is 'no longer economically viable', according to a letter to employees of the mine seen by the Financial Times."

" 'Unfortunately due to the significant decrease in the cobalt price, increased inflation across some of our key input costs (mainly sulphuric acid) and the additional taxes imposed by the mining code, the mine is no longer economically viable over the long term,' the letter to employees at Mutanda said."

"The price of cobalt has fallen more than 40 per cent this year because of a surge of supply from the DRC, the world's largest producer."

[torp] 07/8/2019 11:20

Poor old Noirua, I really do feel for him having this utterly thankless task

Only a fervent shameless ramper could suggest that Glencore halting the world's largest cobalt mine due to it being uneconomically viable, was a good thing !!

You couldn't make it up.

Terrible timing too this news I expect !!


Tick tock

DYOR

[kemche] 07/8/2019 11:10

And Lemon.