Red Rock Resources Share Discussion Threads

[jdsdps] 06/1/2020 12:45

torp you say nothing was going on but the market still valued it at over £2m that's over 50% of current RRR market cap

[torp] 06/1/2020 11:53

Shameless pumper Noirua now telling people the share price will treble if they get the
Migori license back. Just shameless to the last. Last year he goaded people
to buy at 0.6p to 0.8p levels, now the share price is 0.4p. He told people that the
company had £3m+ cash in the bank, then the Half Year Report stated that in fact
there was only £27k in the bank.

It's desperate desperate stuff Noirua. The share price isn't going to treble here imho.
The long term chart shows the permanent trend that's been heere for 10 years.
SP devastation caused imho by a BOD running the company as a lifestyle venture.

High time the larger holders did something about the BOD.

DYOR

[torp] 06/1/2020 11:48

Serial pumper Noirua to be avoided

[noirua] 06/1/2020 11:26

The main wait is for the Mid Migori Gold license finally being rubber stamped by the Kenyan Mining Minister. It is really up to investors to work out its worth from information at:

Gold has hit USD1,576 per ounce. Gold in the ground at Mid Migori is worth USD2.15 billion.
1,370,000 ounces x USD1,576 = 2.15 billion USD.

[torp] 05/1/2020 17:26

The facts are that any value you place in any of the assets is always countered
by the stupid amounts expended in salaries, admin and other expenses.

Between 2012 and 2017 this BOD raised over £15m via confetti issues and in
the same period spent over £11m on admin and other expenses.

That's close to 75% of cash going to expenses. Thus I can confidently say that
"No" the asset was never worth 9.9m and likewise the Jupiter shares are not worth £3m.

One only has to look at the history of those Jupiter shares to see how useless
they are to shareholders here.

Jupiter performed 3 separate share buy-backs netting RRR over £1m
NOT A SINGLE PENNY was passed onto shareholders here

Jupiter have dished out £1m-£2m to RRR by way of dividends
NOT A SINGLE PENNY was passed onto shareholders here

Bell has already cashed in 1.5m of those shares raising probably £300k
That money undoubtedly went to admin and expenses imho

This notion of valuing a company by the "sum of its parts" is and always has
been utter misleading BS here because that "sum" never includes the major
element which is the wastage in salaries and expenses of this BOD. It is this
that constantly saps all value in the share and is the reason why dilution
has been endlessly needed thus decimating the share price.

You can invent the most fantastic asset you like here and wax lyrical about it
and your perceived value of it but it won't change the reality which is that
this BOD will leech all value from it by way of salaries and expenses.

Ramping this POS share is therefore utterly futile and pointless which is why
it is so sad to see Noirua having to do this day in day as if it were a paid job.

Nothing can ever change here unless and until the original BOD are removed imho.

These vain hopes for some kind of newsworthy event like a new Migori license
to generate some kind of rise are simply desperation. You know deep down it
will make no difference whatsoever. The history here is stark and damning,
the £millions taken in salaries, the £millions in expenses, the long list
of failed ventures, the Greenland debacle, loans and transactions not RNS'd
and so on. You are clinging to vain hopes. Nothing is going to change.

It is up to the large holders to do what is necessary but it sadly appears
they can't do that or that they stupidly believe that the company can go forward
with the same BOD in place. Either way they are destined to go the same way as
every other large investor here, in my opinion of course.

DYOR

[jdsdps] 05/1/2020 15:22

The facts are on 6th May 2015 the day before the RNS that reported the license was lost the market value of RRR was 9.9m. In the following 4 trading days it fell 23% a drop of 2.3 million £. Today RRR is valued at 3m which is covered by Jupiter shares. You may be correct in your prediction of no spike but the facts point to a share price increase. We will see very soon.

[torp] 05/1/2020 14:29

JDS

What value did the markets assign to it BEFORE the license was revoked and why?


I put it to you that nobody was interested in the project. Nothing was happening
and then of course there was the uber embarrassing public phone conference that
Bell held when a Migori director unexpectedly jumped on the line and also asked
what the hell was going on. It was clear in that moment that the "partnership"
was anything but.

RRR/Migori were criticised in a Kenyan journalistic site for having sat on the
licenses for 26 years and failing to really do much at all. They were accused
of just being intermediaries all along.

I realise that those desperately trying to pump this POS have extremely little
to go on and see the possible re-instatement of the license as a key ramping
opportunity. In truth it will have no effect imho. Nobody was interested
in Migori before the license was revoked. Just look at the 10 year chart.

The share price just kept plummeting regardless of the Migori project.

You won't get the spike you hope for if the license is restored. Nobody will
be fooled imho.

[jdsdps] 05/1/2020 13:29

Torp in your view what do you think the value of Migori gold project is if the licence is fully restored? As it has 1.2 moz thanks

[jdsdps] 05/1/2020 13:28

Torp in your view what do you think the value of Migori gold project is if the licence is fully restored? As it has 1.2 moz thanks

[torp] 05/1/2020 13:25

It should not be forgotten that large holders here apparently wanted to liquidate
the company according to poster Helpful on LSE:


Helpful - 17 Aug 2019


"If it has not been taken private there is a reason, as will become clear shortly. We may still take it private."
"One other large shareholder wanted us to liquidate the company last September and we said no."


That kind of constant threat hanging over proceedings makes this, imho,
totally uninvestable.

DYOR

[torp] 05/1/2020 13:24

Large holders here apparently wanted to liquidate the company according to poster
Helpful on LSE:


Helpful - 17 Aug 2019


"If it has not been taken private there is a reason, as will become clear shortly. We may still take it private."
"One other large shareholder wanted us to liquidate the company last September and we said no."


That kind of constant threat hanging over proceedings makes this, imho,
totally uninvestable.

DYOR

[torp] 05/1/2020 13:16

Lol, poor old Noirua, still having to keep pumping this POS

What a life !

[seagullsslimjim] 05/1/2020 13:13

Marvellous and also the avalanche of royalties coming in from 'The Lemon'

That alone is like a golden windfall and rates the co at a level of least £50m.

I'll be in tomorrow AM buying up all the shares available.

[noirua] 05/1/2020 01:55

Red Rock Resources (RRR)

Follow RRR
MIGORI GOLD PROJECT in KENYA


Share forecast looks just great - feel happy. Gold to the fore to rocket Red Rock.

Have a great new year and enjoy the ride ahead - good luck.

[noirua] 05/1/2020 01:53

Providing Mid Migori get their mining license signed off by the Kenyan Mining Minister the high gold price augers well for Red Rock.

Please just read the above facts and decide yourself. Ignoring any opinions should prove wise.

[seagullsslimjim] 04/1/2020 21:22

60000muppets - nooooooooooooooo not the crown jewel !!!

[60000 muppets] 04/1/2020 20:44

Sell the coffee

[torp] 04/1/2020 14:11

AGM? Gosh let me guess, they will table a resolution to request authority to issue shed loads more shares in 2020. Am I close?

[noirua] 04/1/2020 14:02

The Annual General Meeting is on Wednesday 29 January 2020 at 9am.

[torp] 04/1/2020 00:50

Remedial actions

Step 1 - remove the original BOD completely

Step 2 - bring in decent management

Step 3 - Embargo on director salaries until significant profits generated

Step 4 - Embargo on silly expenditure on Admin and other expenses

Step 5 - Concentrate on one decent project and make a success of it

Until the above take place nothing will ever change here. Uninvestable imho.

[torp] 04/1/2020 00:44

Nothing changes

Amounts expended on Admin/Other Expenses

2012 - 2,275,786
2013 - 4,751,948
2014 - 1,563,808
2015 - 1,334,404
2016 - 758,351
2017 - 644,688
2018 - 849,518
2019 - 591,777

Total £12,770,280

Millions wasted, shareholder value sapped away

[torp] 04/1/2020 00:40

2 trades on the 2nd Jan
2 trades on the 3rd Jan

All of them sells

Not good

[noirua] 03/1/2020 23:09

Copper is starting a move that may follow gold.