Red Rock Resources Share Discussion Threads

[noirua] 25/9/2019 23:03

I'm expecting a result for the final approval of Mid Migori before December and a midsize company arriving to take on the asset expenditure as well as buying into about 50% of the the future mine. Cash received by RED will cover the CLNs though I expect these to be converted at 0.8p a share.

The JORC resource at Musonoi, DRC is difficult to call but is now eight months later than the original over optimistic judgement by RED. On a greenfield site it is possible to work out how long drilling etc., will take. Pottering around cathedral sized sheds to get results from drilling cores going back to the 1920's is quite different. At some point one of the surrounding companies may well take over. However, AB does not want a distressed type of sale and RED are keeping the secrets under raps.

Still working on the value of Musonoi. The 75% value of Mid Migori is easier to work out and I'm close to it - news shortly.

[torp] 25/9/2019 21:04

I wonder how long before larger shareholders collectively take over the company and liquidate the assets and run off into the sunset with the cash . . .?

Either way it doesn't look good here to me.

Cash in bank at end Dec was just £27k

Total Liabilities were £2.7 million

Admin Expenses were approx. £850,000 last year


Since Dec they've raised £323k from a dilutive placing
Received approx. £250k from a Jupiter divi

and have now resorted to selling down those "family silver" Jupiter shares
selling 1.5m of them to raise approx. £300k


The cash vs liabilities, expenses and other costs situation already looks dire
to me personally.

If the Kenya license gets re-instated they will have to find $2.5m from somewhere


Where is the cash going to come from?


Surely only more misery in the form of dilution or else more selling of the
family silver Jupiter shares, which are about the only thing of any real value
here.


Large holders will surely not be happy seeing those Jupiter shares being pawned
off to pay ridiculous director salaries and expenses so I personally assume they
will at some stage take some form of action before all value is stripped away.

Either way the ordinary PI is likely the victim. Bell's other share RGM has
imho been destroyed and he's now left that sinking ship. I suspect the same
will happen here in time.

DYOR

[noirua] 25/9/2019 13:42

Cobalt at 6 month high:

[the_boy_plunger] 25/9/2019 12:39

how much do moaners get paid?!

[noirua] 25/9/2019 10:56

I've sold my shares in Jupiter Mines.

[noirua] 24/9/2019 20:53

Gold at US$1,532 per ounce - RED RRR is gleaming somewhat.

[noirua] 24/9/2019 15:27

1620 back to its happy ways concerning RRR on two fronts at Mid Migori and Musonoi.
Some good buying in the last 4 days offset by some selling by stale bulls.

[torp] 24/9/2019 14:01

Back to posting drivel again to push other posts off the page

Dear oh dear.

2 large sells yesterday of about £11.25k each.

Clearly someone not believing the ramping nonsense I guess.

Probably Gyllenhammar continuing to dump his former 13% holding.

Not looking good here imho.

[noirua] 24/9/2019 10:16

RED

1620

[noirua] 23/9/2019 15:51

Off Topic:

Gold price at $1,525

On-Topic:

Morning Star:

[noirua] 23/9/2019 14:18

Red Rock Twitter:

[torp] 23/9/2019 13:38

lol Noirua

Don't expect others to follow you into this POS!

Cash in bank at end Dec just £27k
Total Liabilities at that point were £2.7m

Admin Expenses run at £850,000 a year approx.

Since Dec they raised £323k from a dilutive placing
Received about £250k from Jupiter dividend
And just sold 1.5m "family silver" Jupiter shares for another £300k odd

The numbers just aren't adding up for me.

It's either going to be confetti time or more pawning off of the family silver imho

If the Kenya license gets reinstated then they'll have to find $2.5m from
somewhere !

DYOR

[noirua] 23/9/2019 11:58

Interesting how things go on from here.
Real spread at 0.47p - 0.494p = 5.1%.
Twitter:

[noirua] 23/9/2019 10:57

It looks as if there is a large late trade to be reported as I hadn't expected the offer price to drop back.

[noirua] 23/9/2019 08:44

Awaiting mining license final hurdle for Mid Migori 1.2m ounce resource plus 67,000 ounces tailings. Also JORC resource at Musonoi, DRC.

Gold at $1,521 per ounce. Very promising.

[noirua] 21/9/2019 14:38

China’s Steel Output Recovers In August
17 September 2019

[noirua] 21/9/2019 01:58

Off-Topic:

On-Topic:

Glencore's plans trigger cobalt price rally to six-month high
September 2019


Cobalt rose to $17.5 per lb in the past week, a gain of more than 30% since early August, when commodity trader and miner Glencore said Mutanda would close from the end of this year for two years. Glencore chief executive Ivan Glasenberg said the mine's economic viability had deteriorated because of low cobalt prices.

[noirua] 20/9/2019 19:02

Trade at 16:27 for 3,506,404 shares at 0.57p, O Trade.

[noirua] 20/9/2019 15:55

MMs continue to make it difficult for buyers with spread at 0.45p - 0.53/0.528p - real spread at 14.7/15%.

[noirua] 20/9/2019 15:38

Much waited for Video about Mid Migori in the header guys.

[noirua] 20/9/2019 15:25

#Gold could reach highs of $25,000 - Pierre Lassonde @KitcoNewsNOW


If this proves correct then...

Tally:

[goldfund] 20/9/2019 14:37

Placing of new stocks - bad thing, no placing - bad thing. JMS stocks no sale - bad, sale 1.5M shares - also bad. LOL.