Red Rock Resources Share Discussion Threads

[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.

[seagullsslimjim] 16/12/2019 14:44

Looking forward to a more detailed breakdown in admin expenses Would be interesting to see the level of luxury Mr Bell treats himself too when visiting the natives in Africa ! Can't get the image of Bell looking like Lofty in 'It ain't half hot Mum!'...(albeit in a different continent) https://www.youtube.com/watch?v=10dmK7O-KSY&list=RD10dmK7O-KSY&start_radio=1&t=9

[torp] 16/12/2019 14:30

The sells just keep coming, gaining pace imho. Smacks of forward selling to me but I have no way to confirm this so pure speculation on my part. If it is dilution I don't think many of the placees will get to sell their confetti for much profit as I predict the share price will tank very quickly and there are few mugs around these days. If there is a placing underway, and I have no idea, I figure on it being done at 0.3p personally. Extremely glad I don't fall for the misleading nonsense from Noirua here. He previously encouraged people to naively invest at 0.6p and above. Shocking character. Look at how much people would have lost following his ramps! Note also he has gone suddenly quiet. A sure sign he's participating imho. Nothing changes It's Christmas and I speculate that Santa Bell is coming to town to spread the Christmas confetti. Assume the position. Ho Ho Ho. Let it snow, let it snow, let it snow. DYOR

[torp] 16/12/2019 11:42

The round sells continue. Definitely indicative of a placing imho but believe what you will 16-Dec-19 09:07:52 0.411 500,000 Sell* 0.40 0.45 2,055 O  16-Dec-19 08:47:20 0.4205 300,000 Sell* 0.40 0.45 1,262 O  13-Dec-19 13:54:21 0.421 300,000 Sell* 0.40 0.50 1,263 O  12-Dec-19 16:27:05 0.414 250,000 Sell* 0.40 0.50 1,035 O  12-Dec-19 14:35:47 0.414 200,000 Sell* 0.40 0.50 828.00 O  12-Dec-19 11:42:49 0.414 200,000 Sell* 0.40 0.50 828.00 O  11-Dec-19 10:43:48 0.414 100,000 Sell* 0.40 0.50 414.00 O  11-Dec-19 10:42:57 0.414 200,000 Sell* 0.40 0.50 828.00 O  Not fooled myself. Definitely looks like placing material to me. I definitely won't be buying any shares here until the company RNS how they intend to pay down the £1m of CLNs that are due in just 3 days time on 19th Dec ! Also worth waiting for the Annual Report which is due If there is a placing underway, which of course I don't know, then buying shares now would for me be just giving an easy profit to placees at my expense. SP here will be in the 0.3p levels by end of the year imho. DYOR

[seagullsslimjim] 16/12/2019 11:29

Well Noirua lives in Asia so maybe the Co will fly him in? All part of the admin costs :-)

[clunes100] 16/12/2019 11:25

Cutting the AGN announcement and meeting a little fine again - not good form. Let's hope AB has some news. Can someone go to the meeting to make sure we get some feedback on the BB.

[torp] 16/12/2019 10:23

indeed tick tock Only 3 days now until the £1m CLNs are due for repayment . . .

[kemche] 16/12/2019 08:58

Meanwhile tick and tock..........

[noirua] 16/12/2019 00:48

China Iron Ore Imports Headed For Record Year Despite November Slip COMMODITIES December 11, 2019 Https://www.sharecafe.com.au/2019/12/11/china-iron-ore-imports-headed-for-record-year-despite-november-slip/ China is heading for its 4th year in a row of iron ore imports topping 1 billion tonnes with non-Brazilian exporters – mostly in Australia – able to make up for the multi-million-tonne shortfall from Brazil’s Vale in the wake of the January 25 mine dam wall disaster. As well there were a series of supply disruptions from Australia caused by problems at Rio Tinto’s export terminals at Cape Lambert and mining issues at the massive Mount tom price mining hub.

[greenpastures2] 15/12/2019 16:31

'...I would personally wait for the Annual Report.' Does that mean you would impersonally not wait for the Annual Report Torp? Why do so many people add personally to statements when it is only their own view they are talking about? On the substance of your email, I will be surprised if RRR goes anywhere. It looks to me that it has run out of rope.