Share Name Share Symbol Market Type Share ISIN Share Description
Red Rock Resources Plc LSE:RRR London Ordinary Share GB00BYWKBV38 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.165 0.15 0.18 0.165 0.165 0.17 965,726 08:00:07
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -1.7 -0.3 - 1

Red Rock Resources Share Discussion Threads

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DateSubjectAuthorDiscuss
26/12/2019
16:32
Hard to believe this is still going TBH The gravy train has been rumbling along here for 15 years and still the company hasn't reached any state where it has lots of regular income from successful projects to generate sound profits. Just a long track record of failed ventures, ridiculous director salaries and expenses and more latterly an arrogant refusal by the BOD to issue RNSs for key loans and transactions. It transpired that Bell had loaned a further £1.1m to the failing Steelmin venture WITHOUT RNSing that to markets and shareholders. Appalling behaviour imho. Steelmin subsequently went into Administration in Feb 2019 and so that money was lost. Roll on to today and the Full Year Report just issued states that: Total Current Liabilities are £2.8m Cash in the bank just £64K Admin Expenses were approx £600,000 They failed to repay the £1m outstanding Convertible Loan Notes on 19th Dec and istead rolled them on for a third year. The conversion price was lowered to give the holder more chance of actually converting them (it will never happen imho) and the interest rate was raised from 10% to 12%. What a nonsense ! That's 3 years of interest accrued on these CLNs, taking more valuable cash out of the company. There's nothing positive here that I can see. The VERY few remaining crony rampers are struggling immensely to come up with anything. All they can muster is the age old "jam tomorrow" rhetoric about Migori and the like. The company is obviously cashless and any monies that appear from say Jupiter dividends are going to director salaries and expenses. How many more years is that situation going to be permitted? Why haven't the large holders ousted this useless greedy BOD? There can be no trust here whatsoever imho. If the BOD are now refusing to RNS key loans and transactions then you'd be investing blind imho. What other loans have been made that we are not aware of? I mean FFS they still haven't even RNS'd Steelmin going into Administration back in Feb though it's had a mention in the Full Year Report now. Just appalling. The Moduc Operandi here has always relied imho on the endless ramping of "jam tomorrow" rhetoric to make naive mugpunters by the constant stream of confetti placing shares at silly premium prices. By all accounts the punters seem to have learned their lesson and have long since fled this share as can be seen by the lack of volume. So too have most of the shameless rampers who clearly see there is no point trying to pump this POS. Except of course for old Noirua who will continue till his last dying breath bless him ! Given the many 100s of shares in AIM, and the absolute appalling history here of failed ventures, director salaries, expenses and losses I can't imagine why anyone would stop by. It is for me just a dead horse. Each to their own of course Always DYOR
torp
26/12/2019
16:20
MUSONOI AREA 1 PE4962 - KAMUKONGO PE663 - KASOMBO SOUTH PE2360 - in Democratic Republic of the Congo RED ROCK RESOURCES PLC RRR own 51% of rights to the above tenements/ Cobalt - Http://www.infomine.com/ChartsAndData/GraphEngine.ashx?z=t&dr=6m&g=127678 MUSONOI AREA 1 - PE4962, Democratic Republic of the Congo. 5 February 2019: Further to the announcement of 30 January 2019, the Company has concluded the first phase of work on the Musonoi license (Permis d'Exploitation no. 4962) that forms one of the assets of its Copper/Cobalt Joint Venture. Historic data including 83 old drillholes and nine cross sections on the property have been obtained from Gécamines and digitised, enabling the Company to recreate the historic orebody and open pit outline. 3-D models were then created, and the old high grade upper orebody and lower orebody modelled, mineralisation calculated, and depletion from historic mining calculated. Models and tables for in situ mineralisation, both at the original Gécamines 2.5% copper cut-off grade and at a 1% cut-off grade, were then derived. The information and calculations will now be given to external resource consultants to assess, with results from any core that the Company is able to identify and re-test. The consultants will then advise on any further work required for them to calculate a Resource compliant with the Joint Ore Reserve Committee (JORC) 2012 Code for calculating Mineral Resources and Reserves. -- First phase of work at Musonoi Cu/Co mine at Kolwezi, DRC, concluded -- Data from 83 old drill holes, 9 cross sections, and open pit shell digitised -- Recreated and modelled historic orebody at 2.5% Cu and 1% Cu cut offs -- Seeking old core to resample -- Consultants to advise on bringing mineralisation to JORC Resource category https://uk.advfn.com/stock-market/london/red-rock-resources-RRR/share-news/Red-Rock-Resources-plc-Update/79188925 MUSONOI Mining Cores April 2019 - Kolwezi, DRC: core tray from Musonoi 2 hétéroginite (mixed cobalt and copper) is the blackish material https://twitter.com/RRR_RedRock/status/1114114053604032513 Kolwezi, DRC: core tray from Musonoi - https://twitter.com/RRR_RedRock/status/1114113307672231936 Kolwezi, DRC: drill core from Musonoi (1970s?40s?30s?) in the drill shed Kolwezi, DRC: one of the three core storage sheds - like Cathedrals of 'carotte' https://twitter.com/RRR_RedRock/status/1114112822668091392 Kolwezi, DRC. With our team (soon to double) going through the Gécamines drillsheds finding our Musonoi Global core trays - https://twitter.com/RRR_RedRock/status/1114112826765975552 PRESENTATION, note page 15, 16 and 17, drill core positions: Https://www.rrrplc.com/wp-content/uploads/2019/03/20190331_RRR_FINAL.pdf MUSONOI AREA 1 PE4962 - KAMUKONGO PE663 - KASOMBO SOUTH PE2360 - in Democratic Republic of the Congo Https://www.rrrplc.com/wp-content/uploads/2019/01/VUP-Overview.jpg Https://www.rrrplc.com/wp-content/uploads/2019/01/Musonoi-Map.jpg The Congo is the prime location for high grade deposits of both metals, and our neighbours in our targeted areas would be blue chip companies such as Glencore, China Railways and China Hydro, Jinchuan, and Gécamines. Minex Consulting are presently doing work for Red Rock Resources PLC on their 51% owned Musonoi Area 1 interest: Red Rock has continued to work to confirm the status of its licenses in Kenya during 2019. In the Democratic Republic of Congo exploration continued at Luanshimba copper-cobalt license, identifying "significant" anomalies. The company said it expects to carry out further work at Luanshimba early in 2020.
noirua
26/12/2019
16:14
Desperate as ever Noirua So let's recap on the reality here and the salient points from the Full Year Report: Total Current Liabilities : £2.8m !!!! Cash in bank : Just £64K The available monies appear to still go to director salaries and preposterous amounts on expenses. Admin Expenses were approx £600,000 Business Development £302K Other Project Costs £158K That pretty much swallows up all the Jupiter dividends Obviously they don't have 2 coins to rub together otherwise they would have paid down the £1m CLNs that were due for repayment 19th Dec instead of kicking them down the road for a 3rd year, now with the increased interest rate of 12%!!! That's 2 year's interest at 10% that has been incurred and now a third year at 12%. Valuable cash that doesn't deliver any shareholder value imho. With £2.8m liabilities and naff all cash in the bank what possible investment proposition is there here? The Jupiter divi's rather than provide value will just get soaked up by salaries and expenses. How will they pay down those liabilities? Liabilities were £2.7m at the start of 2019 and now they are £2.8m. They will surely look to dilute and raise cash just to pay down debts. Where in such a scenario is any cash to develop any project?? It's an empty cup for me But believe what you will and always DYOR .
torp
26/12/2019
16:06
Red Rock Resources’ resilience pays off in Kenya 23 December 2019 Https://www.miningreview.com/gold/red-rocks-resilience-pays-off-in-kenya-following-government-woes/ "We are entering the last stage of what has been a lengthy process and we look forward to the confirmation of the granting of these licences, and to renewing progress towards our aim, which is to have a producing gold mine, he concludes.
noirua
26/12/2019
15:58
Red Rock Resources PLC website: Http://www.rrrplc.com ----- The Canadian-based Kansai Mining Corporation undertook exploration for gold in Kenya and reported encouraging results from its drilling at the Migori gold project in 2008. This project covers 310.5 km2 of the Migori Greenstone belt within the Migori district, Nyanza region in south-western Kenya, on the eastern shores of Lake Victoria. The project is situated 290 km west of Nairobi parallel to the Tanzanian border and Migori is eight hours drive from Kenya’s capital, Nairobi. Kansai’s Migori concessions cover a greenstone belt of 68 km in length, which is one of ten in the area. Eight of the other greenstone belts are south of the border in Tanzania, which has seen dramatic growth in gold exploration and exploitation in recent years. Historically the area has seen various mining operations. Migori Gold Project on Twitter: https://twitter.com/search?q=Migori%20Gold%20Project&src=typd MIGORI GOLD PROJECT - Https://www.rrrplc.com/projects-and-investments/gold/migori-gold-project/ Red Rock holds a 75% direct interest in Mid Migori Mining Company Ltd which controls a 1.2Moz JORC gold resource in Kenya via Special Prospecting Licenses 122 and 202. There is significant resource expansion potential and Macalder Tailings - 68koz Au @ 1.7g/t' The Legal issues have been resolved relating to the Migori gold project in South West Kenya. Red Rock is now free to apply for licences for the property, and previous decisions will not be prejudicial to such applications. The beneficial interest in the Kenya licenses has been increased to 100%, and following its restoration it is expecting to be able to form a co-operation with other parties in order to help drive the asset toward production. A Government Minister's Approval is awaited on the mining license. PROGRESS REPORT - African Exploration Assets 15 June2018 Https://polaris.brighterir.com/public/red_rock_resources/news/rns/story/xjkz71r Red Rock also announces, further to its announcement of 26 June 2015, that a revision to its agreement with Kansai Mining Corporation ("Kansai") of 20 June 2015 ("2015 Agreement") was executed on 11 June 2018 ("2018 Agreement"). The effect of the revision is that Kansai exchanges its 25% carried interest in the mineral assets of Mid Migori Mining ("MMM" and "Assets") under the 2015 Agreement for a USD50,000 payment, leaving Red Rock with a 100% interest.In the event of a renewal or reissue of licenses covering the Assets the Company will within three months make further payments, subject to such renewal or reissue not being on unduly onerous terms, as follows: (1) USD2.5m payable in cash, (2) a USD1m promissory note payable 15 months after issue, and (3) GBP500,000 of warrants into Red Rock shares at a price 20% above their average closing price on the three trading days prior to issue. MAP of KENYA and TANZANIA GOLDFIELDS including RED ROCK RESOURCES PLC's 100% OWNED MID MIGORI LIMITED's TENEMENTS: Https://pbs.twimg.com/media/EEz8BXFWkAIJ4pc.jpg PROGRESS REPORT - African Exploration Assets 15 June2018 Https://polaris.brighterir.com/public/red_rock_resources/news/rns/story/xjkz71r Red Rock also announces, further to its announcement of 26 June 2015, that a revision to its agreement with Kansai Mining Corporation ("Kansai") of 20 June 2015 ("2015 Agreement") was executed on 11 June 2018 ("2018 Agreement"). The effect of the revision is that Kansai exchanges its 25% carried interest in the mineral assets of Mid Migori Mining ("MMM" and "Assets") under the 2015 Agreement for a USD50,000 payment, leaving Red Rock with a 100% interest.In the event of a renewal or reissue of licenses covering the Assets the Company will within three months make further payments, subject to such renewal or reissue not being on unduly onerous terms, as follows: (1) USD2.5m payable in cash, (2) a USD1m promissory note payable 15 months after issue, and (3) GBP500,000 of warrants into Red Rock shares at a price 20% above their average closing price on the three trading days prior to issue. MAP of KENYA and TANZANIA GOLDFIELDS including RED ROCK RESOURCES PLC's 100% OWNED MID MIGORI LIMITED's TENEMENTS: Https://pbs.twimg.com/media/EEz8BXFWkAIJ4pc.jpg December 24 2019: Non-current related party receivables of GBP3,887,434 (2018: GBP3,599,439) are recoverable from Mid Migori Mining Company Limited under the terms of the joint venture, purchase and sale agreement entered into in August 2009 as detailed in note 29. The amount is unsecured and has no fixed repayment date. Interest is charged at 8% per annum, and it was accrued in the reporting year the amount of GBP287,995 (2018: GBP359,539). Management have considered the recoverability of this debt and have considered the recent announcement regarding approval for the grant of licenses by the Mining Rights Board (MRB) of Kenya on the mining cadastre website. Upon receipt of official confirmation of the intended grant, the Company will be invited to fulfil fee payment and registration requirements. The grant of the licences then remains subject to the approval of the Cabinet. More details are given in note 1.5, Significant accounting judgements, estimates and assumptions. The MFP sale proceeds represent the fair value of the deferred consideration receivable for the sale of MFP. The fair value was estimated based on the consideration offered by the buyer adjusted to its present value based on the timing for which the consideration is expected to be received. The most significant inputs are the offer price per tranches, discount rate and estimated royalty stream. The estimated royalty stream takes into account current production levels, estimates of future production levels and gold price forecasts. Group and Company ----------------------------------------------2019 --------------------- 2018 Amounts due from associates GBP3,887,434 -------- GBP3,599,439 MFP sale proceeds-------------- GBP1,346,108 -------- GBP1,301,757 Daily Precious Metals Prices: ----- September 25 2019: Https://www.businessdailyafrica.com/corporate/companies/UK-firm-wins-Sh180bn-Migori-gold-mine-licence/4003102-5287502-jdw1i5z/index.html December 23 2019: Https://www.miningreview.com/gold/red-rocks-resilience-pays-off-in-kenya-following-government-woes/ Last update 13 January 2020
noirua
26/12/2019
15:40
Get ready for changes. Especially trolls and detractors. Migori Project information is on its way to the new great Migori Gold Project Thread. A very exciting journey ahead for Red Rock into 2020. Join us on the two new threads to join Red Rock. Great times ahead. Trolls and detractors are very welcome even though I have them well filtered.
noirua
26/12/2019
12:47
Looks that way Kemche
torp
26/12/2019
11:56
So fcucked then. A long winded way of saying it but why not.
kemche
26/12/2019
11:22
30. Assets Pledged as Collateral On 11 April 2019, RRR Coal Limited, a company 100% owned by Red Rock Resources plc, agreed to a standby Loan Facility of up to US$1,000,000. The maximum amount drawn down under this facility has been US$200,000. As security for any funds drawn down, RRR Coal Limited has agreed to maintaining a value of shares in Jupiter Mines Ltd equal to three times the amount outstanding on the loan facility as calculated by the value weighted average price for the proceeding five days prior. At the time of completion 5,500,000 shares of Jupiter Mines were pledged to the noteholders and a Corporate Guarantee was also executed.
noirua
26/12/2019
11:16
Non-current related party receivables of GBP3,887,434 (2018: GBP3,599,439) are recoverable from Mid Migori Mining Company Limited under the terms of the joint venture, purchase and sale agreement entered into in August 2009 as detailed in note 29. The amount is unsecured and has no fixed repayment date. Interest is charged at 8% per annum, and it was accrued in the reporting year the amount of GBP287,995 (2018: GBP359,539). Management have considered the recoverability of this debt and have considered the recent announcement regarding approval for the grant of licenses by the Mining Rights Board (MRB) of Kenya on the mining cadastre website. Upon receipt of official confirmation of the intended grant, the Company will be invited to fulfil fee payment and registration requirements. The grant of the licences then remains subject to the approval of the Cabinet. More details are given in note 1.5, Significant accounting judgements, estimates and assumptions. 1.5 The Company owns 15% of the issued share capital of Mid Migori Mining Company Limited ("MMM"). Andrew Bell is a member of the board of MMM. In accordance with IAS 28, the Directors of the Company consider this, and the input of resource by the Company in respect of drilling and analytical activities, to provide the Group with significant influence as defined by the standard. As such, MMM has been recognised as an associate for the years ended 30 June 2019 and 30 June 2018. The effect of recognising MMM as an FVTOCI financial asset would be to decrease the profit by GBP511 (2018: increase the profit by GBP23). The MFP sale proceeds represent the fair value of the deferred consideration receivable for the sale of MFP. The fair value was estimated based on the consideration offered by the buyer adjusted to its present value based on the timing for which the consideration is expected to be received. The most significant inputs are the offer price per tranches, discount rate and estimated royalty stream. The estimated royalty stream takes into account current production levels, estimates of future production levels and gold price forecasts. Note 29, Commitments: As at 30 June 2018, the Company had entered into the following commitments: -- Exploration commitments: no ongoing exploration expenditure is required to maintain title to the Group mineral exploration permits in Kenya pending regrant/renewal. No provision has been made in the financial statements for these amounts as the expenditure is expected to be fulfilled in the normal course of operations of the Group. -- On 26 June 2015 the Company announced an agreement with Kansai Mining Corporation Ltd pursuant to which Red Rock's farm in agreement was replaced by agreements under which any interest in the Migori Gold Project or the other assets of Mid Migori Mines that may be retained or granted to Mid Migori Mines or Red Rock would be shared 75% to Red Rock and 25% to Kansai. Kansai's interest was to be carried up the point of an Indicated Mineral Resource of 2m oz of gold. Red Rock was to have full management rights of the operations and of the conduct of legal proceedings on behalf of both Mid Migori Mines and itself. On 15 June 2018 Red Rock announced a revision to this agreement. The effect of the revision is that Kansai exchanged its 25% carried interest under the 2015 agreement for a US$50,000 payment, leaving Red Rock with a 100% interest. In the event of a renewal or reissue of licenses covering the relevant assets the Company will within three months make further payments, subject to such renewal or resissue not being on unduly onerous terms, as follows: (1) US$2.5m payable in cash, (2) a US$1m promissory note payable 15 months after issue, and (3) GBP500,000 of warrants into Red Rock shares at a price 20% above their average closing price on the three trading days prior to issue. -- On 21 September 2019 the Company entered into a new lease agreement for office space with WeWork Aldwych House. The initial lease runs from 1 October 2019 through 30 October 2019. The lease can be terminated by giving one full calendar month's notice. More details are disclosed in note 25. ----- The Company, at 30 June 2019 and at 30 June 2018, had significant influence by virtue other than shareholding over 20% over Mid Migori Mining Company Limited. During the year ended 30 June 2018 the Group acquired the remaining 25% of interest in net assets of Mid Migori and from 15 June 2018 it has 100% interest in Mid Migori's net assets. [ Please note however that RRR only own 15% of the issued share capital actual in Mid Migori Mining Company Limited whilst holding 100% interest in the assets ie Mid Migori project. Red Rock is owed GBP£3,887,434 + £287,995 acrued interest by Mid Migori Mining Limited. Should Red Rock eventually complete the 25% purchase of Mid Migori Project, thus now owning 100%, on a mining license being awarded and not on onerous terms, RRR would be required to pay US$2,500,000, issue a USD1,000,000 promissory note and GBP500,000 in warrants to Kansai Mining.Corporation] Red Rock Resources ups stake in Kansai Mining Corp to 35.2pct www.proactiveinvestors.com.au/companies/news/22182/red-rock-resources-ups-stake-in-kansai-mining-corp-to-352pct-26453.html The company has exercised the option over 29.6 million shares in Kansai A WEEK AGO at a cost of C$10. The shares were held by RAB Special Situations (Master) Fund and amount to a pre-dilution interest of 28.9 percent of Kansai. Following a further transaction, Red Rock now owns a total 45,552,237 Kansai shares, representing 37.96 per cent of the total issued and outstanding capital. Migoro gold resource tops a million ounces Vancouver An independent resource estimate pegs the contained gold resource at Arizona-based Kansai Mining's (KAN-V) Migoro gold project at 1.24 million oz., a 65% increase over the previous estimate.Kansai's Migoro project covers 310 sq. km. along the Migori greenstone belt... Kansai Mining Corporation - Https://www.bloomberg.com/profile/company/KAN/H:CN Still not complete yet - please be patient, thanks - prepare for something new...
noirua
24/12/2019
15:15
~ ~ ~ . . . ~ ~ ~ . . . ~ ~ ~ . . . ~ ~ ~ . . . ~ ~ ~ Twas the night before Christmas, as old Ettie sighed "Where are the mugpunters, they've all gone!", he cried I used to make millions again and again Running this lark as a pure gravy train But now they are wiser and won't play my game The share has been trashed and they give me the blame They won't buy the shares and sit idle and petty Just like my machine that prints out confetti The silence was pierced by a knock on the door Carolers perchance come to sing for the poor? Alas twas investors all grim in dark coats Shouting "when will you pay these useless loan notes?!" "Begone! hapless fools, for the cupboards are bare Come back in a year for I have not a care The pennies were lost on a venture in steel Which fizzled to nought and was far from ideal" And so by the fire Ettie sat all alone Nursing his port like a dog with a bone Lost in his dreams of silver and gold And fanciful notions of riches untold Then came once again a rap on the door Which brought the old fool to his senses once more And swinging the portal wide open he beamed For his old chums from Cornhill had come back it seemed Fear not said the brokers for tidings we bring Let's raise up our glasses together and sing For a new year approaches for your gravy train You can fleece the mugpunters all over again Thus bolstered and feeling a fervor anew He dreamed of new punters who had not a clue Who knew not the history of failures and woe, And would buy the confetti to make his pot grow "Oh Santa just bring me my salary please Expenses galore and plenty of fees!" And so with a smile and a slightly dulled head Ettie hung up his stocking and tottered to bed ~ ~ ~ . . . ~ ~ ~ . . . ~ ~ ~ . . . ~ ~ ~ . . . ~ ~ ~
torp
24/12/2019
15:06
70 minutes of Xmas songs for all: Https://youtu.be/A6iamZpEzMw
noirua
24/12/2019
12:22
Amulet was particularly interesting!
kemche
24/12/2019
12:21
Hernando - exactly!
kemche
24/12/2019
12:17
I wonder who got all the money he gave away on those 'business opportunities"
hernando2
24/12/2019
11:59
Noirua - end the year as you began it - with utter twaddle. Well done!
kemche
24/12/2019
11:56
Taking everything into account the Annual Report though very negative in many ways does show RRR are getting a bit of a handle on the cash situation. The value of Mid Migori and the three DRC tenements far outweighs this negativity. A buying opportunity with all its risks out there
noirua
24/12/2019
10:59
Oh and of course important to note that Total Current Liabilities have gone up since end Dec from £2.7m to £2.8m So no dent made in those liabilities. £2.8m liabilities Cash in bank £64k Nuff said imho DYOR
torp
24/12/2019
10:57
lol at the Final Results. Cash in bank just £64K as at end June. Small wonder they couldn't repay the CLNs and rolled them over for a 3rd year. Can't imagine what the large investors were thinking here. They are surely just watching their holdings lose value. Ousting the existing BOD was imho a priority and they have failed to do so. Now as I have been predicting for weeks, the share price is dropping into the 0.3p zone. Same old DYOR
torp
24/12/2019
09:08
o On 11 April 2019 The Company's 100% owned subsidiary, RRR Coal Limited, agreed a loan facility of up to US$1,000,000 with Riverfort Global Opportunities PCC Limited and YA II PN Limited. The terms of the loan call for US$400,000 to be transferred to the borrower, with additional tranches available to the lenders at their absolute discretion. The notes are secured by 5,500,000 shares in Jupiter Mines Limited, which were transferred from the Company to the borrowers as well as by a corporate guarantee executed by Red Rock Resources plc. The notes carry an interest rate of 10% and come with a 7.5% implementation fee and are repayable over a period ending in April 2020. A total of US$200,000 has been drawn down on the facility to date. ----- On 17 October 2018 the Company announced commencement of a soil sampling programme on a new license in the Copperbelt in the south of the Democratic Republic of Congo ("DRC") near the Zambian border. The license is considered prospective for copper and cobalt mineralisation, and was recently acquired from a private seller. 80% of license PR13513 was acquired together with a nearby license and a gold-prospective license in the northern DRC adjacent to the licenses containing Randgold's Kibali mine, at a cost of US$60,000. The balance of 20% of the licenses is retained by the vendor, Congo Geologist Galaxy. ----- Non-current related party receivables of GBP3,887,434 (2018: GBP3,599,439) are recoverable from Mid Migori Mining Company Limited under the terms of the joint venture, purchase and sale agreement entered into in August 2009 as detailed in note 29. The amount is unsecured and has no fixed repayment date. Interest is charged at 8% per annum, and it was accrued in the reporting year the amount of GBP287,995 (2018: GBP359,539). Management have considered the recoverability of this debt and have considered the recent announcement regarding approval for the grant of licenses by the Mining Rights Board (MRB) of Kenya on the mining cadastre website. Upon receipt of official confirmation of the intended grant, the Company will be invited to fulfil fee payment and registration requirements. The grant of the licences then remains subject to the approval of the Cabinet. More details are given in note 1.5, Significant accounting judgements, estimates and assumptions. The MFP sale proceeds represent the fair value of the deferred consideration receivable for the sale of MFP. The fair value was estimated based on the consideration offered by the buyer adjusted to its present value based on the timing for which the consideration is expected to be received. The most significant inputs are the offer price per tranches, discount rate and estimated royalty stream. The estimated royalty stream takes into account current production levels, estimates of future production levels and gold price forecasts. Group and Company ----------------------------------------------2019 --------------------- 2018 Amounts due from associates GBP3,887,434 -------- GBP3,599,439 MFP sale proceeds-------------- GBP1,346,108 -------- GBP1,301,757 ----- For the purpose of the statement of cash flows, cash and cash equivalents comprise cash at bank and in hand - 30 June 2019 Cash in hand and at bank ---- GBP43,243 ----------- GBP 2,263,288
noirua
24/12/2019
08:52
Almost spot on with your prediction
ksddw2
24/12/2019
08:39
PS: I will be unavailable over the festive period, 2 weeks in the Caribbean for a well earned rest ! Merry Christmas Love Andrew
mikemichael2
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