Red Rock Resources Share Discussion Threads

[noirua] 02/3/2020 12:05

greenpastures2, Yes, only hope would be an announcement of a partner for Mid Migori to pay RRR cash and future royalties for a large stake.

Only thing to watch now is to see if there is further selling or whether Mr Charles Richard Topham makes a move to buy. Best guess is that Mr Peter Gyllenhammar is the seller. Only other is the Australian 1620 Limited which is very unlikely.

[noirua] 02/3/2020 12:03

Major holders:
*As at 23 October 2019, Peter Gyllenhammar’s holding in Red Rock Resources Plc is 23,250,000 ordinary shares, representing 3.44% of the Company’s issued share capital. The shares are held via Citibank Nominee Ltd.

* As at 30 April 2019, Charles Richard Topham’s holding in Red Rock Resources Plc is 108,753,210 ordinary shares, representing 16.09% of the Company’s issued share capital. The shares are held via HSBC Global Custody Nominee (UK) Ltd.

*As at 9 April 2019, Andrew Bell’s holding in Red Rock Resources Plc is 39,067,000 ordinary shares, representing 6.38% of the Company’s issued share capital.

1620 Capital Pty Ltd 70,000,000 shares 10.25% as at 5 November 2019.

[greenpastures2] 02/3/2020 12:02

I think you are trying to flog a dead horse Noirua. Today's gold price is hardly relevant to a project even if it were approved today will be a year or more away.

[hermanngoring] 02/3/2020 11:48

This is a basket case.

[noirua] 02/3/2020 11:21

#RRR Twitter - glad to see gold over $1600/oz again. We benefit in several ways from a rising gold price.

[noirua] 02/3/2020 11:19

The sale of shares today, about 9,656,691 in one trade = 1.42% at 0.2125p. Impossible to say whether this is forced selling of a distressed seller or someone approached for a placing and declined and sold out. Only guessing of course.
Hopefully news is due out for Mid Migori and Musonoi and it wont happen in the very short term. Red Rock's position would be difficult if the mining license for Mid Migori is much delayed and the Musonoi resource statement.

[torp] 02/3/2020 10:39

LSE shows RRR down 18% today.

I guess the rats are leaving the sinking ship. How long before a mega confetti
share issue and another share consolidation????

They did a 1-100 consolidation at RGM.

This is just a total avoid for me. Pretty much no significant regular income
except the Jupiter dividends and that gets eaten up by salaries and expenses.
It's a "sucker stock" imho.

Nothing will ever change here unless the BOD are removed.

DYOR

[kemche] 02/3/2020 08:41

No it won't and no it isn't.
But thanks for playing.

[noirua] 02/3/2020 08:26

The gold price is recovering after its stark fall. Its strength or otherwise will put a valuation on RRRs 100% interest in Mid Migori, Kenya. Not to forget the eventual receipt of US$2.95m in royalties from El Limon.
Jupiter shares were steady overnight in Australia at 24c. A long way down from highs over 40c last year. Para shares in Canada are very weak but now concentrating on gold production from El Limon only - a plus for Red Rock.

[torp] 29/2/2020 09:38

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 0.25p


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 0.25p


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 0.25p


It is for me highly questionable whether Noirua actually did buy any shares at those
prices. If he did he is massively down here. He is simply a stock pumper who is
prepared to mislead readers with cherry picked nonsense and/or bogus information.

Another of his awful quotes:

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


Anyone who follows his pumping nonsense unfortunately deserves to lose their money.

I am immune to it.

Be sure to DYOR here.

[kemche] 28/2/2020 23:33

Hogwash! It is a jolly!

[noirua] 28/2/2020 23:30

A great deal now depends 'mostly' on a mining license being granted for Mid Migori, Kenya.
Word from the herd is that AB has spent a great deal of time in Kenya satisfying them that a partner is firmly in the wings to finance the project quickly. RRR should receive a sum in cash plus royalties on gold production in satisfaction of giving up a substantial part of the interest.
No doubt the Kenyan Mining Minister is well aware of the substantial sums expended by Red Rock up to 2015.

RRR COAL LIMITED - 05102 - LOAN STRUCTURING PROGRAMME - Go to header to read information on the loan structure. Draw your own conclusions from this, and whether it is likely to make a difference due to what appears to be an April 2020 deadline.

Red Rock's Half Year Report is due in March. 29 March last year.
Last Year's Report:
A JORC resource has so far been elusive for Musonoi.

Summing this up. If there is no deal in Kenya and no resource statement for Musonoi, in the short term: Then cash will be needed from somewhere. Not sure if the company will sell RGM shares or tie up more Jupiter shares. Maybe they hope for a good dividend from Jupiter in May. Or seek to raise funds by other means.

Time will tell whether AB will play a straight bat at this one and who might outfox whom? Hopefully the shareholders are not being outfoxed here.

There are three major shareholders with about 30% of the company's shares. Of course AB himself has an additional 5.88%, a substantial holding. Peel Hunt Holdings Limited have a further additional 6.27%.


The above is a personal readout of the current position. I do not play the blame game to justify anything.
Nor do I wish to upset anybody in this respect. The position is what it is and I hope it works out well for the company and its shareholders.

[torp] 28/2/2020 22:58

The warning signs are all there in the trade list imho.

A 15% drop in the share price and lots of large round trades.

Anyone who can't see mass dilution coming here is imho beyond help.
We've seen with RGM share issuing on a colossal scale to try and reboot the share.

They had 1.5 billion shares in issue and issued the equiv of over 7 billion more.
Now approx 80% of the resulting share issue is comprised of that confetti.
They consolidated the shares on an eye watering 1 to 100 basis !!
The share price dropped very swiftly to the placing price and then sank further.


I predict that the same will happen here.

With naff all cash (see Annual Report) and significant liabilities and the ever present troughing by the
BOD with salaries and admin and other expenses there's
only ever one outcome. . . . more dilution, more share price decimation.

Before Christmas RRR announced they were hooked back up with Cornhill Capital
which is now renamed to Pello Capital. Cornhill were previously fined over
£200k by the FCA for the forward selling of placing shares.

For me personally the signs are all here for an RGM style mass dilution and
share consolidation. Just my opinion.

Thankfully I'm immune to the BS Noirua posts here and will give this POS a very
wide berth.

DYOR

[noirua] 28/2/2020 22:46

The gold price fell by $56 in New York at $1,585.50.

[torp] 28/2/2020 14:58

lol Noirua

[noirua] 28/2/2020 14:55

Rumours on Twitter that Kenya, Mid Migori Project, is a leader to an announcement of a deal.

See last post and responses.

[noirua] 28/2/2020 14:50

Andrew Bell:

[kemche] 28/2/2020 11:44

re-denominate to 0.0000001p and then consolidate before another fundraising. Makes sense.

[kemche] 28/2/2020 11:43

The share price decline since 2010 is due to Coronavirus.

[noirua] 28/2/2020 09:28

Atinos auntie Ettie - 25 Feb 2020 - 13:19:14 - 9541 of 9569 RED ROCK RESOURCES PLC - Information Thread - RRR
A good update as the company gets back to what it does best, to endeavour and explore for deposits on the front line. 2020 is officially underway and we can look ahead with confidence and clarity.

Atinos auntie Ettie - 18 Feb 2020 - 17:53:02 - 9489 of 9569 RED ROCK RESOURCES PLC - Information Thread - RRR
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 will do very well provided they hold and manage not to get bounced out of the carriage as it manoeuvres through the odd trough.

Atinos auntie Ettie - 10 Feb 2020 - 10:35:47 - 9456 of 9569 RED ROCK RESOURCES PLC - Information Thread - RRR
There is deep underlying value here. Underlying means beneath the surface, ergo not everyone can see it. This unawareness or dimwittedness of many investors together with short-termism is the main reason for the weak share price. The upturn in fortune, when it comes, will surprise and delight.

Atinos auntie Ettie - 07 Jan 2020 - 19:33:17 - 9367 of 9569 RED ROCK RESOURCES PLC - Information Thread - RRR
Why not invest in Red Rock, indulge and take part in the journey as we venture north.

Atinos auntie Ettie - 10 Feb 2020 - 10:35:47 - 9456 of 9569 RED ROCK RESOURCES PLC - Information Thread - RRR
There is deep underlying value here. Underlying means beneath the surface, ergo not everyone can see it. This unawareness or dimwittedness of many investors together with short-termism is the main reason for the weak share price. The upturn in fortune, when it comes, will surprise and delight.

Atinos auntie Ettie - 07 Jan 2020 - 19:33:17 - 9367 of 9569 RED ROCK RESOURCES PLC - Information Thread - RRR
Why not invest in Red Rock, indulge and take part in the journey as we venture north.

Atinos auntie Ettie - 17 Dec 2019 - 19:16:58 - 9256 of 9569 RED ROCK RESOURCES PLC - Information Thread - RRR
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.

Atinos auntie Ettie - 12 Nov 2019 - 21:53:26 - 8944 of 9569 RED ROCK RESOURCES PLC - Information Thread - RRR
As thoughts turn to 2020 and which shares to buy and hold for the proceeding 12 months look no further than Red Rock Resources, which is progressing the potential powerhouse Musonoi deposit and has ample backing courtesy of the Jupiter Mines investment. With Regency Mines in a difficult moment it may even be worth selling there to buy here.

Atinos auntie Ettie - 16 Oct 2019 - 11:56:11 - 8771 of 9569 RED ROCK RESOURCES PLC - Information Thread - RRR
Now is presumably the time to buy, when many are unnaturally fearful, and in advance of news flow which is surely just around the corner.

Atinos auntie Ettie - 13 Aug 2019 - 19:08:32 - 8513 of 9569 RED ROCK RESOURCES PLC - Information Thread - RRR
Please exit the stage, you have been doing the same song and dance act for too long. Your opinion is your own and welcome to it but it's unfair to subject others to your negativity. My advice is to find a new hobby. Trying to squeeze the life and vitality out of a beaten up share is the equivalent of repeatedly kicking a dog when it's down.

[torp] 27/2/2020 22:19

This company was incorporated in 2004, 15-16 years ago and in that time about the only thing that has happened is this despicable BOD have diluted and diluted and diluted shareholders relentlessly and ruthlessly issued shares like so much confetti. At the same time they have rewarded themselves handsomely for abject failure to deliver either a successful project or any tangible shareholder value.

Red Rock is THE very definition of an AIM lifestyle company

Salient facts:

Losses made each year and amounts raised by dilution/confetti issues:

2012 - Loss of £1,962,882 - raised £4,441,844
2013 - Loss of £22,105,562 - raised £4,103,795
2014 - Loss of £4,113,460 - raised £2,723,861
2015 - Loss of £8,411,541 - raised £2,327,377
2016 - Loss of £283,280 - raised £1,155,323
2017 - Loss of £1,114,213 - raised £300,000

Total Raised - £15,052,200


Where did all the cash go ???? A clue . . . . .

Andrew Bell salary and emoluments

2012 - £221,729
2013 - £154,746
2014 - £139,008
2015 - £91,495
2016 - £126,661
2017 - £155,243
2018 - £142,965

Amounts frittered away on Admin Expenses each year:

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

Total £11,328,985


The net result of this BOD's well proven MO of dilute, salaries, expenses, rinse, repeat is thus:





NOTHING but nothing will ever change here unless and until that BOD are removed imho.

DYOR and do it well

[kemche] 27/2/2020 21:32

Noirua, Ask not what RRR can do for you but what you can do for RRR.

[fenseal3] 27/2/2020 18:01

If I lost money working for an investment company I would be sacked....end of, now you know why certain people, take the plunge into owning an investment company that never does well for shareholders, but give a very good living to the owners, well they wont sack themselves will they, sooooo glad I got out well over the price of today.

[noirua] 27/2/2020 17:43

Basically guys. Will RRR get the mining license in Kenya in the very short term? Will RRR come up with a resource at Musonoi in an equally short term?

Shareholders look starkly at AB in a distant land!

Will AB be credited on this or discredited? Does AB really care a jot about shareholders large or small? Will AB prove to shareholders he can bring home the bacon?

Many doubts after the Lubumbashi RNS?

RRR need cash after losing £1.1 million to the Steelmin debacle. Also a loan to Amulet!

Eyes wait expectantly but some eyes have...