Red Rock Resources Share Discussion Threads

[noirua] 22/11/2019 12:54

Switzerland's Katanga Mining Limited is raising funds from Glencore - 18 November 2019

This could raise possibilities of a bid for Red Rock's 51% owned Musonoi Area 1.

[noirua] 21/11/2019 23:39

Relief for British Firm as it Strikes Migori Gold - 26 September 2019
Migori Gold Project to continue under Red Rock Resources
The British firm which had lodged a court case in 2015 following the cancellation of its mining license in Migori will continue to excavate gold in the Western part of Kenya.


Red Rock Resources, the ore company listed at the London Stock Exchange (LSE), has received the government’s approval to continue mining the precious metal within Migori, according to Business Daily.

The vehicle driving Red Rock’s Migori Gold Project is local firm Mid Migori Mining Company Ltd , of which the UK firm holds a 75% direct interest in. Mid Migori Mining Company controls a 1.2 million ounce gold resource in Kenya, and is licensed by the Mining Ministry. On current market value, the gold deposit has a value of around Ksh187 billion [ GBP1.4 billion ] [ ]

[noirua] 21/11/2019 23:02

A 10% yield on recent CLNs looks OK for buyers.

[torp] 21/11/2019 17:42

Deadline for the £1m outstanding CLNs is fast approaching, 19th Dec just 4 weeks away. Where will the money come from to repay them ???.

Company just changed it's broker back to Cornhill Capital (now rebranded as Pello) so I think we can all guess that dilution is likely.

DYOR

[seagullsslimjim] 21/11/2019 17:09

Yep - another chunk of Jupiter soon to be sold to cover the CLNs

Let me be the first to say on behalf of Red Rock...

"Happy Christmas Everyone and may the next decade be a prosperous for some of us as the last one !"

[torp] 21/11/2019 15:50

Stop trying to con people Noirua.

[torp] 21/11/2019 15:50

Watching for the (imho) inevitable update RNSs which will come before a placing imho.

Pointless buying before 19th Dec imho when they have to magic £1m from somewhere to pay off the CLNs. Might as well wait to see if they dilute or pawn off more Jupiter shares. There will be opportunities to buy at the 0.3p levels soon enough imho.

DYOR

[noirua] 21/11/2019 15:07

There is very much to go for in 2020 as far as Red Rock, Musonoi and Mid Migori are concerned. Very much upside in the offing. A 10% yield on CLNs and a side piece in a chance to jump in at a good stage at 0.8p - not to be thrown away.

[kemche] 21/11/2019 00:23

Just read the history of the company to know what's coming.

[noirua] 20/11/2019 23:07

Just read the information in the header and follow the links.

[torp] 20/11/2019 17:05

This will be in the 0.3's before Christmas imho

[torp] 20/11/2019 17:05

Deadline for the £1m outstanding CLNs is fast approaching, 19th Dec just 4 weeks away. Where will the money come from to repay them ???.

Company just changed it's broker back to Cornhill Capital (now rebranded as Pello) so I think we can all guess that dilution is likely.

DYOR

[noirua] 20/11/2019 15:02

Red Rock enthused by Cobalt:

[seagullsslimjim] 20/11/2019 14:41

Look at that chart - Put a bit of snow on it and i'll get my skis out !

Although with such a steep downward angle like that and i think it would be classed as 'off piste'

[torp] 20/11/2019 10:28

Noirua: "news due on two fronts"

Front 1 . . . some pithy Update RNSs to tickle the fish ready for a placing

Front 2 . . . Dilution


Either will send the share onto the Share Fallers board and into the 0.3p levels imho.

DYOR and don't get caught out by Noirua's continual ramping BS. He advised peole to buy at 0.6p to 0.8p levels and look where the share price is today.

[noirua] 20/11/2019 10:01

Steady buying interest with news due on two fronts.

[seagullsslimjim] 19/11/2019 20:13

And Atinos Aunt Ettie rolling up for the pre Christmas Special

[torp] 19/11/2019 11:27

£1m+ of outstanding Convertible Loan Notes are due for repayment this 19th Dec.

Where will the money come from?

Company has just changed it's broker back to Cornhill Capital (renamed Pello).

Imho that is a clear indicator of impending dilution

I personally won't be caught out by Noirua's continuing BS. No way I would
I buy any shares here before 19th Dec and/or before that placing drops.

I predict the share price will plummet into the 0.3p levels if/when it happens.

Just my opinion and guess but if true to form there will be a couple of Update
RNSs first in the next couple of weeks. Again, I won't personally be fooled
one iota by any such baiting.

Each to their own

DYOR

[noirua] 19/11/2019 10:16

Recent Interview with Andrew Bell, Chairman and CEO of Red Rock:


Hopefully news will arrive very sharp for Musonoi or/and Mid Migori. Alternatives are to get the CLN holders, as many as possible, to carry on until 19 December 2020. They get a 10% interest roll up that looks OK to me as Red Rock have quoted assets at Jupiter, Para and POW currently worth about GBP3 million.

AB will be in the know about progress at Musonoi. He has kept this under his hat despite giving a well adequate number of interviews. Having run through the later ones several times there are absolutely no clues as to percentage complete or any milestones reached. From this you must make of it what you will.

[noirua] 19/11/2019 09:39

Mid-Migori and Musonoi Area 1 news is very close.

[kemche] 18/11/2019 19:25

Fundraising o'clock must surely be upon us?

[noirua] 18/11/2019 18:45

Hopefully news will arrive very sharp for Musonoi or/and Mid Migori. Alternatives are to get the CLN holders, as many as possible, to carry on until 19 December 2020. They get a 10% interest roll up that looks OK to me as Red Rock have quoted assets at Jupiter, Para and POW currently worth about GBP3 million.

AB will be in the know about progress at Musonoi. He has kept this under his hat despite giving a well adequate number of interviews. Having run through the later ones several times there are absolutely no clues as to percentage complete or any milestones reached. From this you must make of it what you will.

[torp] 18/11/2019 12:57

bigman "Helps you understand why we ain't extracting all that Cobalt yet."


Not the anyone here needs help understanding it, after all . . .

Did they extract anything meaningful from Greenland?
Did they extract anything meaningful from Ivory Coast?
Did they extract anything meaningful from Shoats Creek?
Did they produce anything meaningful from Steelmin?

Your answers . . .

Greenland has been sold off for just £1

Ivory Coast went nowhere

Shoats Creek has been written off

Steelmin went into administration last Feb leaving a £1.1m debt to RRR
which won't imho be recoverable


In fact about the only thing these projects in far flung places produce
is the ability for this BOD to generate more and more expenses

Expenses is where the lion's share of the monies go

Between 2012 and 2017 this BOD raised over £15m via horrific dilution
In the same period they frittered over £11m just on Admin and other expenses

The facts:

2012 - Loss of £1,962,882 - raised £4,441,844 - Admin £2,275,786
2013 - Loss of £22,105,562 - raised £4,103,795 - Admin £4,751,948
2014 - Loss of £4,113,460 - raised £2,723,861 - Admin £1,563,808
2015 - Loss of £8,411,541 - raised £2,327,377 - Admin £1,334,404
2016 - Loss of £283,280 - raised £1,155,323 - Admin £758,351
2017 - Loss of £1,114,213 - raised £300,000 - Admin £644,688

Total Raised - £15,052,200

Total Admin - £11,328,985

SP utterly destroyed


Bell has already lowered the nominal share value here from 0.1p to 0.01p

Bell has already done a share consolidation here

The share price has continued to be destroyed because the same BOD are in place
and their Modus Operandi is well established.

This is, for me, nothing but a lifestyle share for the personal enrichment
of the BOD. Until they are removed, nothing will change imho.

Admin Expenses alone here were approx. £850,000 last year. This for a company
with a £3m MCAP. It's simply ridiculous imho.


DYOR