Red Rock Resources Share Discussion Threads

[seagullsslimjim] 28/1/2020 13:57

9am because they are spineless yellow bellies who can't handle face to face encounters.

Then again Bell did have a rather special dad. Dying of a stroke while banging your secretary in the Houses of Parliament - Surely a Carry on Film in making if there was ever one.

Maybe..

'Carry on for whom the Bell Tolls'

[noirua] 28/1/2020 13:32

The AGM is at an annoying 9am that probably suits those working up town. Outside chance that it will be interesting - I have voted my shares. HL will vote most of their nominee shares in favour as is normal policy.

[clunes100] 28/1/2020 10:45

Anyone going to the AGM?

[new_scally] 25/1/2020 04:35

Was this someone from on here or one of the bod?

Greggs customer causes £2,000 worth of damage after dropping £1 coin

[noirua] 24/1/2020 12:43

Update on oil info from the great header links:

Evil, not to be missed:

[seagullsslimjim] 21/1/2020 16:01

No room in heaven for Charlatans.

[torp] 20/1/2020 18:13

"Looking after yourself by Noirua"

I wouldn't worry about your body Noirua. Ultimately it is doomed to die.

Your dignity and reputation are more worthy things to try and preserve.
The longer you shamelessly pump this total POS stock the more and more damage
you do to those 2 precious things.

[costax1654x] 20/1/2020 15:46

orm expecting a great week,with the seller out!Mcap of 3 mil can not justify 5.5 mil cash and another asset without debts!Feel Sorry for previous shareholders who got the -70% drop after the sell of tungsten mine,but cash is twice the mcap without debts!

[seagullsslimjim] 20/1/2020 14:43

Looking forward most to Bells abdication!

Wonder if a distant relative of his captained the Titanic?

[noirua] 20/1/2020 13:22

Abdication of King Edward VIII, King and Emporer:

Speech of abdication of Royal duties by Prince Harry:

Abdiction of Pope Benedict:

Looking after yourself by Noirua:

[costax1654x] 20/1/2020 09:46

orm expecting a great week,with the seller out!Mcap of 3 mil can not justify 5.5 mil cash and another asset without debts!Feel Sorry for previous shareholders who got the -70% drop after the sell of tungsten mine,but cash is twice the mcap without debts!

[torp] 19/1/2020 17:15

Worse still the recent annual report (to end June) stated that there was:

- Just £64k cash in the bank

- Total Current Liabilities of £2.8m

[torp] 19/1/2020 15:06

RRR recent past losses, amounts raised through confetti issues and amounts expended on Admin and other expenses:

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

Total Raised - £15,052,200

Total Admin - £11,328,985

SP utterly destroyed

No shareholder value here as the available monies go to expenses and admin imho.

DYOR

[kemche] 19/1/2020 13:58

Any old crud.

[noirua] 19/1/2020 12:23

Barrick takes Acacia Mining back as buyout deal sealed
17 September 2019


Since this time Acacia have sold their Kenya subsidiary to Shanta Gold.

[noirua] 19/1/2020 12:11

The Impact of New Mining Regulations:

Kenyan miners say law not conducive to investment
22 October 2018


Kenya hands over seized gold to Tanzania
24 July 2019

[noirua] 19/1/2020 12:07

Mining Royalty Regulations 2017

[noirua] 19/1/2020 11:56

KENYA’S NEW MINING ACT IS A MODERN PIECE OF LEGISLATION WITH A FEW ISSUES TO IRON OUT
1 February 2017


Concerns surrounding the Mining Act include the pre-emption rights of the government in relation to strategic minerals, the government’s 10% free carried interest, and the requirement for the listing of 20% of the equity of large-scale projects.

In effect, this all means investors could find a large percentage of their company not being under their ownership and, to some extent, given over for free! While certain other countries do have a free carried interest in mining, Kenya’s relatively new industry may mean that giving away 10% is premature.

Wherever a mining operation takes place, the community needs to be involved and to feel a part of the project. Some of the royalties prescribed by the new Act go some way to assisting with this, as they are directed specifically to communities. However, there is an additional need to engage communities and ensure there is local employment.

Another issue relates to securing land rights. In the Mining Act, landowner consent is required even when applying for a license. This is extremely arduous. Considering the huge areas over which exploration licences may be granted, there may be 200,000 or more individual landowners and it is simply not possible to get consent from all of them in writing. We will hopefully see this provision reviewed and revised in due course.

We expect a number of foreign mining investors are holding back and are waiting to see whether the current issues surrounding the new Mining Act will be ironed out over the next year or so. We believe the new Cabinet Secretary has the opportunity to turn the sector around, because of his enthusiasm and the fact he has gained the trust of a lot of mining companies. In this regard, it should be an exciting year in the mining sector in Kenya.

[kemche] 19/1/2020 10:49

It's all about the fundraising now. As it always was. And is.

[noirua] 19/1/2020 10:37

Red Rock Resources’ resilience pays off in Kenya
23 December 2019


The licences covered an area of 310 km² and is located in the south western part of Kenya, approximately 290 km west of the capital Nairobi. The project tenements lie within the Migori and Narok counties, extending approximately 63 km from Lake Victoria in the west and parallel to the Kenya/Tanzania border which lies 10 km to the south.

Life of mine revenue from gold sales is estimated at US$95 million and the capital cost is $3 million recoverable within the first six months of operation.

“Our case was more of a localised issue, but at the time we also had a mining minister who didn’t understand the market. While the process to take our licence away had already begun, the company had already invested more than $10 million.

[noirua] 19/1/2020 10:28

UK company’s bid for Kenya gold mining licence stalls
January 1 2020


Summary: Red Rock Resources, which is eyeing a 243 square-kilometre site with deposits of the precious metal valued at more than Ksh180 billion ($1.8 billion), has been waiting for the licence since 2018.

The company’s permits that were cancelled, SPL122 and SPL202, were issued under the former Mining Act.

[seagullsslimjim] 18/1/2020 19:59

Did someone mention British Bulls (again)?

Any credibility left has now been shot to bits !

[noirua] 17/1/2020 17:32

We wait to see if BB are right. Only looking at charts I know and not the all over the shop factors at Red Rock. Hope all goes well for those investing anyway.