Red Rock Resources Share Discussion Threads

[noirua] 09/3/2020 20:58

A broadcast today from Greatland Gold that points towards confidence in gold:
Posted to cheer everyone up a bit. Gold glimmers and Red has 1,267,000 ounces of the stuff. Plus royalties and even further shares in companies with gold interests.
If you hold Red Rock shares don't allows trolls and bad people to beat you up over it. Look at the gold price above, isn't that just great.

Damn it, gold is good news and Red Rock Resources PLC have a lot of it.

Any moment a Troll or naughty Pixie will turn up. A pity we don't have Noddy, Big Ears and Mr Plod to cart them off...

[noirua] 09/3/2020 20:11

The gold price is way up on the US$1,300 price one year ago. After some desperate selling into the rise to a tad under US$1,700 to cover in debt positions: We can expect the price to go on past US$1,700.

Red Rock's position, like so many micro-caps, after a poor day has been difficult. However, the company's gold interests are in the right place.

No point laying blame on the past, we are in the here and now. At least RRR have some quotable shares of value that few other similar micro-caps have.

Good fortune in these difficult times guys.

[torp] 09/3/2020 20:09

Also highly likely imho that a placing is coming and Noirua is participating and looking
to dump cheap shares onto mugpunters for a tidy premium.

Latest Annual Report figures (to June):

CASH IN BANK - just £64k

TOTAL CURRENT LIABILITIES - £2.8m

ADMIN EXPENSES - £591k


Just laughable imho

DYOR

[torp] 09/3/2020 19:57

Noirua utterly desperate now to get people to buy this worthless confetti.
You have to have some sympathy with his plight, he is massively down here but trying
to dupe others into the same mess to help get yourself out is unfortunately rather
immoral and disgusting. Let it go Noirua, walk away and accept you've been
catastrophically wrong for about 2 years now and have BADLY BADLY mislead others
in all that time. Just shocking behaviour.


For any newbies reading here are some of Noirua's previous posts:

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


Bid price today 0.20p


Noirua 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 Feb 2019


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


Bid price today 0.20p



Noirua 01 Nov 2018 - "Added a few more this morning."

Noirua 01 Nov 2018 - "Still well cheap and under 0.6p is a 'come and buy me'"


Bid price today 0.20p



Fair warning. If you follow this shameless ramper you will lose your money simple as imho.

DYOR

[noirua] 09/3/2020 12:09

..I was going to say, "buy with open arms". However, in these markets it's best to go for a very small handful.
RRR have gold interests which are not producing and El Limon looks the closest to this now they have chucked all but El Limon out of the pram - Para Resources that is.

Yep! Why not buy some as a high risk punt that may well come off. Much is up to AB and his team so only they really know what's happening. Mid Migori is a puzzle in some respects as the mining license delay looks unfair. Maybe some citizens of DRC might like to buy some shares: Interesting to see what happens at this level.

[kemche] 09/3/2020 12:01

That should help.

[noirua] 09/3/2020 11:57

Interest rates are set to fall and this is known to be more attractive to gold holders.

[torp] 09/3/2020 09:43

Nope there's no attraction whatsoever imho. The MO of the BOD is far too well
established here and will never change. The gold royalties at El Limon are
laughably pitiful and it will take countless years to recoup the full royalty
monies as Noirua well knows (but deliberately conceals from readers here).

Here's the biggest reason imho to stay well clear here:

From Poster Helpful on LSE

A holder of many of the £1m or so outstanding CLNs here


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."


This threat for me makes the share totally uninvestable. Who in their right
mind would want their hard earned cash locked up in this utter POS if it gets
taken private ????

DYOR
.

[noirua] 09/3/2020 01:12

It is gold that is now the attraction here at Red Rock.

Whatever negativity there is concerning Red Rock on the gold side. The most foolish will understand that if one has an interest in gold, in whatever form, if the price rises it is far better than when it falls.

From the above whatever criticisms there are about the company and the Steelmin debacle is the most recent one. Gold being near US$1,700 is far better than US$1,300. From this Red Rock's gold interests are therefore more attractive.

[kemche] 08/3/2020 22:47

Continually regurgitating the same old excuses for confetti is not useful for investment decisions in Red Rock.

Red Rock has been through the same incarnations with different asset groupings in that period. And ALL of the them abject failures. Utter, laughable and lamentable, sorry, abject, humiliating failures.

The losses associated with the extinguished ventures are all the fault of the current incumbent whose sole purpose seems to be the fleecing of the gullibles. Unfortunately he has exhausted the supply of those, bar possibly one company shill.

So the chart is simply the best and most useful tool to assess those in charge. And a read through of the historical financial statements is a must to truly understand this farce.

[torp] 08/3/2020 17:29

Ettie - "Continually regurgitating the long term chart is not useful for
investment decisions as Red Rock has been through several incarnations with
different asset groupings in that period"


What it IS very useful for is seeing the effect of the tired old "rinse repeat"
Modus Operandi of the current BOD. No matter what assets exist, no matter what
project exists the result will always be the same because all this BOD do is
waste £millions on director salaries and Admin and other expenses to the extent
all value is lost. Their dire actions result in the constant need to issue
confetti shares which decimate the share price through "death spiral dilution".

The track record of this BOD is utterly appalling with project after project
going nowhere and £millions being expended throughout.

We now have a situation where Jupiter regularly delivers a dividend but sadly
it gets soaked up by salaries and expenses.

Nothing will ever change here unless and until the current BOD are removed in their
entirety.

DYOR

[noirua] 08/3/2020 14:27

When you struggle with a problem, that is when you truly understand it - Elon Musk

A wise man is cured of ambition by ambition itself; his aim is so exalted that riches, office, fortune and favour cannot satisfy him - Samuel Johnson

[atinos auntie ettie] 08/3/2020 12:43

Continually regurgitating the long term chart is not useful for investment decisions as Red Rock has been through several incarnations with different asset groupings in that period. The losses associated with the extinguished venture in Greenland for example is not a good guide to assess the future value the company should enjoy in the DRC. Starting the clock from the final quarter of 2017 when DRC was announced is an idea but that would capture loss of value from Steelmin, so the chart is simply not a useful tool.

[torp] 08/3/2020 08:37

Long term chart here shows plainly what the current BOD does to this share whilst generating lucrative amounts for director salaries and admin expenses.

[kemche] 07/3/2020 11:42

The wallop of cod.

[noirua] 07/3/2020 10:42

Gold remains firm at US$1,673 - Red Rock RRR has interests in gold on several fronts.


DRC - Nov 2019:

Red Rock is currently one of the very few businesses offering UK-listed exposure to DRC metal production. The firm owns a 50.1pc interest in a DRC-focused joint venture called VUP, which it bought in exchange for a $700,000 cash payment and a £490,000 share payment in 2018.
The JV holds three copper and cobalt prospective exploration licences in the Katanga segment of the Central African Copperbelt, where it is surrounded by active majors like Glencore and FE Limited.

The first of these licences is Kamukongo, which covers 5km2 within a structural trend called Kansuki and Kamikongwa – host of some of the most productive high-grade cobalt-copper deposits in the Katanga region.
The second is Kasombo South, which lies at the mid-eastern part of the Kasonta anticline where numerous mines have produced considerable volumes of both copper and cobalt in the past.

However, the third and most advanced prospect is Musonoi. Covering part of the ‘Musonoi Super Deposit’, this licence sits in a district called the Kolwezi Klippe that boasts 80 years of mining history and supplies a considerable portion of the globe’s annual cobalt requirements.
According to Red Rock, typical grades in the area range from 3-5pc copper and 0.5-1pc cobalt. Perhaps most notably, the region contains Glencore’s Katanga project, which remains the world’s largest cobalt mine despite being due to enter care and maintenance – something that Bell expects to increase cobalt prices.

Musonoi was drilled in the 1930s and 1940s with a cut-off grade of 2.5pc copper. Production took place down to a maximum depth of 105m, and the pit was partially backfilled after production ceased. However,
Red Rock believes that high-grade ore, alongside additional orebodies, could remain in place.
Its consultant geologists have provisionally identified deposit potential of up to 400,000ts of contained copper and more than 25,000ts of cobalt at Musonoi based on a review of historical work and reports.

This year has seen the VUP JV begin work to build on this potential, creating 3D models and identifying and assessing the old drill core from previous exploration activity. This work is the first stage of validating the results of historical drilling, something that will allow the JV to bring the existing non-compliant resource to the modern ‘JORC’ standard. More updates are expected over the coming quarters.

[torp] 07/3/2020 00:03

The track record here is simply one of continual failure with a BOD continuing to
reward themselves for that failure with lucrative salaries and preposterous amounts
frittered on admin and other expenses.


Greenland Venture - Was on sale for 10m, subsequently sold off for just £1

Ivory Coast Venture - Went nowhere

El Limon Gold Mine - Sold off for a pittance and a royalty that will take years and years to recoup

Shoats Creek Venture - Abject failure now being written off

Steelmin Venture - Abject failure went into Administration Feb 2019 leaving a £1.1m debt to RRR

Kenya Venture - Had their license revoked, still fighting to get another

but hey, the next great project/venture will surely be the one to be a success !!!

Years of dismal failures and dire performance

Years of share price destruction

Years of confetti issue dilution

Years of BOD taking lucrative salaries despite abject failure

Years of this BOD spending £millions and £millions on Admin Expenses

I'm extremely pleased I don't fall for the "jam tomorrow" nonsense spouted by the
likes of Noirua here.

DYOR and do it well !!!

[torp] 06/3/2020 23:59

Latest Annual Report figures (to June):


CASH IN BANK - just £64k

TOTAL CURRENT LIABILITIES - £2.8m

ADMIN EXPENSES - £591k

[kemche] 06/3/2020 15:54

Noirua??? A serial liar??

Whatever next?!!!!!

Who knew???

EttieBell?

[noirua] 06/3/2020 00:53

At least one good point is the rising price of gold. Red Rock have interests directly on three fronts and one indirectly. When the mining license is restored for Mid Migori the shares should re-rate.
Mid Migori 1.2m ounce JORC Resource plus 67,000oz of gold tailings.
An interest in Para Resources. Now solely mining gold from El Limon.
US$2.95m gold royalties from El Limon..'
Indirect interest in gold via AIM:POW