Red Rock Resources Share Discussion Threads

[torp] 22/12/2019 10:55

Regardless I personally interpret this as an admission by the BOD that they haven't 2 coins to rub together, they just can't afford to repay the CLNs without either diluting shareholders or selling down more "family silver" Jupiter shares. Really dire TBH. More so when you consider that Bell squandered £1.1m by loaning it to the failing Steelmin company and didn't RNS that fact to the markets. Steelmin subsequently went into Administration and now that cash is lost imho. Why wasn't that cash used to pay down the outstanding debt??? Now the CLN conversion price has had to be lowered and the interest rate raised. Shareholders here have already seen 2 years of 10% interest incurred from these CLNs, now a third year at 12% will be incurred. This is valuable cash just seeping out of the business into the hands of the crony high net worth investors. If they can't pay the CLNs then how will they fund any actual project work? DYOR

[torp] 22/12/2019 10:48

Ettie: "the above represents some nine tenths of the total notes so naturally some have elected to cash out now (a shame) but the vast majority renewed and well done to them." Ah but that's not what the RNS says is it??? RNS: "Holders of £830,000 principal value of Notes have TO DATE applied to renew"> I strongly suspect that means the rest simply haven't yet applied to renew (or hadn't by the time of the RNS) but are likely to in due course. Is there a precedence for this? Yes absolutely. It happened last year. We got an RNS on Jan 2nd highlighting that additional holders had applied to renew.

[noirua] 22/12/2019 02:20

https://twitter.com/RRR_RedRock/status/1207969398578913280

[noirua] 19/12/2019 17:02

Jupiter shares closed at 29c, up 4c from its low point recently on improved prospects for Manganese. It does look as if the next Jupiter Divi is likely to be reduced to no more than 2c. Probably less than £200,000 to RRR. That would mean raising cash not long into the new year. Maybe Migori news will arrive or a JORC resource for Musonoi.

[seagullsslimjim] 19/12/2019 12:44

Doc Dolittle at last years AGM https://www.youtube.com/watch?v=YpBPavEDQCk

[noirua] 19/12/2019 12:08

Regency Mines - Zak MiR: Https://www.share-talk.com/share-talk-bulletin-board-heroes-thursday-19th-december-2019/

[seagullsslimjim] 18/12/2019 11:01

https://www.youtube.com/watch?v=LK8sxngSWaU

[noirua] 17/12/2019 23:14

JUPITER MINES LIMITED Q3 FY2020 QUARTERLY ACTIVITIES REPORT Https://stocknessmonster.com/announcements/jms.asx-6A960149/

[seagullsslimjim] 17/12/2019 21:20

Epic fail in all departments Long may it continue, son of naughty Ronald!

[kemche] 17/12/2019 21:19

Lambs to the slaughter! "naturally some have elected to cash out now (a shame)" - because they can see what awaits them under your continued tenure. I await the natural denouement of the Porterhouse Blues. As do all RRR shareholders. Except Noirua of course. Natch.

[atinos auntie ettie] 17/12/2019 19:16

Of course there was a choice, the above represents some nine tenths of the total notes so naturally some have elected to cash out now (a shame) but the vast majority renewed and well done to them.

[kemche] 17/12/2019 17:30

"We thank our Note holders who have had no other choice but to roll over their positions. The BOD remains committed to spending all available cash in furtherance of the lifestyle of it's board, while the the only cash generation at Jupiter Mines Ltd provides the continued ability to do so." Owned!

[kemche] 17/12/2019 17:26

"have to date applied to renew the Notes for twelve months" Because they had a choice! Charlatan!

[noirua] 17/12/2019 17:03

Holders of GBP830,000 principal value of Notes have to date applied to renew the Notes for twelve months to a new final redemption date of 19 December 2020, with an adjusted interest rate of 12% and an adjusted conversion price of 0.6p per Share. The Warrants of renewing Noteholders have been extended to expire on 19 December 2022, with an adjusted exercise price of 0.9p per Share. https://uk.advfn.com/stock-market/london/red-rock-resources-RRR/share-news/Red-Rock-Resources-plc-Renewal-of-Convertible-Loan/81372310

[noirua] 17/12/2019 17:00

Holders of GBP830,000 principal value of Notes have to date applied to renew the Notes for twelve months to a new final redemption date of 19 December 2020, with an adjusted interest rate of 12% and an adjusted conversion price of 0.6p per Share. The Warrants of renewing Noteholders have been extended to expire on 19 December 2022, with an adjusted exercise price of 0.9p per Share.

[torp] 17/12/2019 13:47

Kemche: "The market cap is almost entirely supported by listed share investments" Just laughable imho. The BOD expend inordinate amounts of precious cash on salaries, admin and other expenses. Last year Admin Expenses alone were approx £850,000. Between 2012 and 2017 this greedy BOD raised over £15m via various dilutive placings thereby destroying the share price. In the same period they expended over £11m of that on Admin and other expenses It's a nonsense and it's why the "sum of the parts/assets" ruse just doesn't apply here. The MCAP is where it is because this BOD run the company as a pure lifestyle venture for their personal enrichment. Any shred of value is sucked away in their preposterous expenditure on admin and other expenses. This will never change, until and unless the BOD are removed from position. Meanwhile today is the 17th Dec. In 2 days time 19th Dec the £1m outstanding Convertible Loan Notes are due for repayment. Where will they get that kind of cash given they only had £27k in the bank as at end last Dec and total current liabilities of £2.7m ?!! Sure they raised £323k via a placing since then, and received approx £250k from a Jupiter divi and pawned off 1.5m of the precious Jupiter shares to raise a further £300k, but as can be plainly seen those incomes just about cover the preposterous Admin Expenses here. So what of other costs and what of project costs let alone where the hell will they get £1m from for these CLNs. The steady stream of sells you can now see in the trade list suggest to me personally that dilution is on the way. I may be wrong. Either way I wouldn't personally think for a second about buying shares here at the current prices nor before the 19th Dec, nor for that matter before the annual report is published. No point investing blind. Get the facts first. The share price here is heading into the 0.3p levels imho which is where I think any placing will be pitched. No point handing placees my precious cash to give them a quick flip profit, no sireeee! DYOR

[kemche] 17/12/2019 13:22

Atinos auntie Ettie - 28 Feb 2019 - 20:23:57 - 6441 of 8974 RED ROCK RESOURCES PLC - Information Thread - RRR The market cap is almost entirely supported by listed share investments, the value is profound. The cash liabilities are comfortable as the majority may be repaid in equity, Steelmin is rightly paused to seek out strong trade partners before proceeding while the battery metals sector is in a good moment so that venture is well-timed. Suggestions 2019 will be an annus horribilis are wide of the mark, it could and should be the opposite.

[noirua] 17/12/2019 13:01

https://twitter.com/RRR_RedRock/status/1206867140638334976

[seagullsslimjim] 16/12/2019 21:19

Maybe he'll disappear into the infamous Oubliette !

[torp] 16/12/2019 20:31

Noirua : "A worrying time for shareholders brought about by the GBP1.1 million loan lost at Steelmin and the cash loan to Amulet. Truly damaging to the cash reserves of Red Rock by the decisions made by the company's Board of Directors." A real tragedy then that YOU mislead investors here last Nov telling them that RRR had £3m to £4m in the bank. Half Year Report confirmed the truth that they only had £27k in the bank at end Dec 2018. Shameless to the last. Doubtless you will be participating in any forthcoming dilution. .

[kemche] 16/12/2019 19:36

"i fear that he may disappear into a Chinese style reconditioning centre for a quick years vacation and re-education to show him the errors of his ways." If only!

[seagullsslimjim] 16/12/2019 18:17

Is Noirua turning against his Illustrious leader? "Truly damaging to the cash reserves of Red Rock by the decisions made by the company's Board of Directors." If so and being Asia based, then i fear that he may disappear into a Chinese style reconditioning centre for a quick years vacation and re-education to show him the errors of his ways. (The Uyghurs, alternately Uygurs, Uighurs or Uigurs, are a minority Turkic ethnic group originating from and culturally affiliated with the general region of Central and East Asia. The Uyghurs have been recognized as native to only one region, the Xinjiang Uyghur Autonomous Region of the People's Republic of China. Wikipedia)

[noirua] 16/12/2019 17:08

Clunes100, It might well be more eventful at the forthcoming AGM. Only the larger holders have any sway on the voting and they rarely publicise their intentions. If they do so a large number of other holders may well follow their lead. DRC and Kenya are the keys here to Chairman and CEO Andrew Bell continuing in his position. Whether he does already hold one of them or not we do not know: I think he probably does. At least let's hope so. The Jupiter share price appears to be recovering as the Manganese price is a little firmer at USD3.04 per dmtu on Chinese demand. The RRR share price came under quite a lot of selling pressure today though the buying price was 0.451p, at the end of the day, to pocket just 600K shares. A worrying time for shareholders brought about by the GBP1.1 million loan lost at Steelmin and the cash loan to Amulet. Truly damaging to the cash reserves of Red Rock by the decisions made by the company's Board of Directors.