Red Rock Resources Share Discussion Threads

[torp] 21/2/2020 00:12

Some of Noirua's past shameless ramping


29 Oct 2018 - " it would seem wise to consider buying in stock around 0.6p a share...your call"

Bid price today 0.3p


29 Oct 2018 - "We can be assured that Chairman Bell and his board of directors are helping all they can to bring about a reasonable electricity deal for Steelmin"

Steelmin went into Administration last Feb


31 Oct 2018 - "RRR at around 0.575p to buy BUT not for long."

Bid price today 0.3p


01 Nov 2018 - "Added a few more this morning."
01 Nov 2018 - "Still well cheap and under 0.6p is a 'come and buy me'"

Bid price today 0.3p



Anyone who follows his pumping nonsense deserves to lose their money.
I am immune to it.

Always DYOR

[noirua] 20/2/2020 18:22

Quiet over at Red Rock as they must be waiting for news from Musonoi and Mid Migori. I will be buying more at this low level on a gamble basis on the mining license and hope that AB's confidence in Kenya comes true. If the price jumps and I miss out, never mind, I've shed loads.

Good fortune in your investing - good luck.

PS: Gold is at US$1,617 - looking good. In fact very very good.

[torp] 20/2/2020 09:40

And here is the net result of this BOD running the company as they do, imho as a pure
lifestyle venture for their personal enrichment at the expense of naïve investors


RRR 10yr Chart





and not surprisingly it was exactly the same at their other lifestyle venture, Regency Mines RGM



RGM 10yr Chart




I can see no investment proposition in either company unless and until the entire original BOD are removed from post

DYOR

[torp] 20/2/2020 09:37

Shameless Noirua yet again desperately trying to pull the old "sum of the parts"
valuation con trick on readers here.

It's not a relevant valuation and he knows that full well. Why?

Because this greedy BOD extract a huge amount of the value of any available
monies for lucrative director salaries and preposterous expenditure on Admin and
other expenses.

Between 2012 and 2017 this BOD raised over £15m from various share issues.

In the same period they expended over £11m just on Admin and other expenses

That's close to 75% of available money going to salaries and expenses. Shocking.

That's where the money ends up, salaries and expenses, and that's why the FACE VALUE
of any asset here is not the TRUE VALUE

The TRUE VALUE of any asset or holding is the face value MINUS about 75% imho.


We have already seen how last year this BOD cashed in 1.5 million of the Jupiter
shares which Noirua refers to in his BS post. They didn't specifically RNS the
sale of those shares, leaving shareholders to uncover it themselves from the difference
in stated holdings in 2 separate RNS. Thus neither did they state what they would
use the cash for that they raised so I personally assume its salaries and expenses.

They have also recently cashed in about half of the RGM holding to raise cash.
They previously held 6.5% and now they have just 3.77%.

Jupiter shares cashed in, RGM shares cashed in . . . . this is asset stripping!

This is the value of assets being sapped away by this BOD in order to pay themselves
salaries and ridiculous amounts of expenses.

Jupiter previously conducted 3 separate share buy-backs netting RRR over £1m in cash. Not a penny of that was passed onto shareholders here.

Jupiter have also paid significant amounts of cash via dividends and again NOT A SINGLE PENNY of that has been passed onto shareholders here.

The money is soaked up by director salaries and expenses.

This is why the share price here always goes South and why there is a constant need to
issue more and more confetti. It's all down to the BOD who imho run the company
as a pure lifestyle venture.

The large holders here are idiots for not removing that BOD

The share will go absolutely nowhere whilst they remain. IMHO. DYOR

.

[kemche] 19/2/2020 17:30

But not as much as the sweets factory.

[kemche] 19/2/2020 17:29

Or possibly Amulet.

[kemche] 19/2/2020 17:29

But possibly as much as Steelmin.

[kemche] 19/2/2020 17:29

Musonoi and Mid Migori are worth nearly as much as Greenland. Maybe even less.

[noirua] 19/2/2020 17:26

Remain calm as there is nothing we can do until a mining license is awarded in Kenya and an announcement on the resource in DRC.

Hopefully many will have noticed the share advancements made and happily pocketed excellent profits from them - here on the RRR thread. Hopefully RRR will become one of those this year.



WEB

[torp] 19/2/2020 15:09

Some of Noirua's past shameless ramping


29 Oct 2018 - " it would seem wise to consider buying in stock around 0.6p a share...your call"

Bid price today 0.3p


29 Oct 2018 - "We can be assured that Chairman Bell and his board of directors are helping all they can to bring about a reasonable electricity deal for Steelmin"

Steelmin went into Administration last Feb


31 Oct 2018 - "RRR at around 0.575p to buy BUT not for long."

Bid price today 0.3p


01 Nov 2018 - "Added a few more this morning."
01 Nov 2018 - "Still well cheap and under 0.6p is a 'come and buy me'"

Bid price today 0.3p


20 Nov 2018 - "Cash in BANK £3.5 to £4 million"

Half Year Report stated cash in bank was just £27k. A disgusting mislead from Noirua


Readers beware. If your believe the misleading nonsense from this ramper you WILL likely lose your money imho

Always DYOR

[kemche] 19/2/2020 10:54

Oh but the Musonoi and Migori of it all!

[kemche] 19/2/2020 09:35

That should help.

[noirua] 19/2/2020 09:31

Gold at USD1,608 per ounce.

[kemche] 19/2/2020 08:07

Of course.
Pmsl!

[noirua] 19/2/2020 00:27

replicas1967 - From watching a much earlier broadcast with Chairman Andrew Bell. He did say that the grades at Mid Migori [despite being a JORC resource] were not that high. So the company would want to bring in another to take an interest and he might have said, dispose of the interest.
Gold has risen in price by about US$250 an ounce since then so either way the project looks good. RRR would not be able to finance it on its own unless the market cap was around £60 million.

I did work out a value for 100% of Mid Migori at around US$18 million so it may be worth around US$20 million now. AS RRR really has only 75% fully paid for, and rights to purchase a further 25% means it may be worth around US$15 to 17million to Red Rock Resources PLC.

The current share price is concerning, But like TYN yesterday, rose 325%, that had been well sold down like RRR; the shares could rocket on good news.

[torp] 18/2/2020 23:13

One can only smile at Ettie's pathetic attempts to lure naïve punters into this
total POS.

Last year, Apr 30th Ettie posted this on the Regency (RGM) thread:


"Today's rise would have been more prolific had shareholders more courage. Traders have besmirched
the market in recent years and it can only be explained by a paucity of bravery among the general
populace, the youth in particular, the weak willed and yellow bellied."

The share price that day was the equiv of 6.5p. Today the share price is 2.65p

Anyone idiotic enough to listen to Ettie would have lost a fortune, about a 60% loss!



And again only 8 days ago Ettie had the gall to call potential investors here "dim-witted" for
not buying. The share price at the time was 0.375p, the share price today is 0.325p, so a drop of 13% in the share price

Verily it seems that the only person here who is "dim-witted" is the one desperately
trying to cajole punters to buy the utterly worthless bits of confetti here.

Luckily there are extremely few idiots around today who fall for his nonsense.

DYOR

[torp] 18/2/2020 22:54

Not fooled by the increasingly large sells one bit.

Either a large holder is dumping whilst they can or we're looking at forward
selling of an incredibly discounted placing imho. Watch for increased ramping
and sudden appearance of old aliases.

RGM did an absolutely colossal share issue taking the issue from 1.5 billion to
8.5 billion in one fell swoop and consolidated on a 1-100 basis at the same time.
There appeared to be very blatant forward selling of discounted shares before the
placing.

I wouldn't put it past Bell to crank the confetti machine here to similar levels.

There's no investment proposition here that I can see and that won't change
unless and until all of the original BOD are removed and replaced.

DYOR

[kemche] 18/2/2020 18:02

"The odd trough"????? Wtf!
Seen the chart??? A trough has an upside you Numbskull.

[atinos auntie ettie] 18/2/2020 17:53

The drop from the 0.45 level is on low volume and does not verily represent a company on the cusp of recovery. Today's buyers are entering at a better price than most and should do well, provided they hold and do not get bounced out of the carriage as it manoeuvres through the odd trough.

[replicas1967] 18/2/2020 17:51

Noirua - even if they do get the license - where’s the cash to develop it coming from ??
Nowt in the Bank !