Red Rock Resources Share Discussion Threads

[noirua] 12/3/2020 09:57

Take care if trying to sell some micro-cap stocks. The price given could well be far below the indicative price. The market is in panic mode with some forced to sell at any price. Hold on my friends - this will pass as it did in the 1987 crash. It has all happened before.

Remain calm.

[torp] 12/3/2020 09:39

The usual twaddle from the usual culprit. Fooling no-one imho.

[noirua] 12/3/2020 09:24

Gold is holding up well!
Some have to sell gold and gold shares. They have long positions they are panicking to close.
Red Rock and others have gold interests.

[kemche] 12/3/2020 07:27

green, nothing will ever change here. Just look at the disasters heaped upon disasters for the last decade. And more of the same to come.

[greenpastures2] 12/3/2020 07:16

I wish had in 2017 kemche but I woke up last year. No longer own any.

[kemche] 12/3/2020 06:32

"As no one else is I held off today and yesterday."

I have held off since 2010.

[noirua] 12/3/2020 00:36

greenpastures2 et al - whipsawed is the right word. I bought NASDAQ:TLSA (AIM:TILS) at US$3.44, a coronavirus stock. What happens tomorrow I'm unsure as I will have to watch AIM and wait for the market opening. Only buy if it's gambling cash. The whipsaw is thrashing around on this one.

Thought of buying more RRR to average down further. As no one else is I held off today and yesterday.

[noirua] 12/3/2020 00:29

A delay updating the header. When it arrives it will surprise some.

[kemche] 12/3/2020 00:26

They have stayed very firm since 2010. And they will continue to whilst you are in charge. When is the next confetti going to be issued?

[atinos auntie ettie] 12/3/2020 00:06

The share price has stayed firm this week in stormy seas. In the context of the wider market crash it is not perverse to be pleased with a stationary share price.

[greenpastures2] 11/3/2020 22:00

If you have cash to invest I think it is too soon to jump in. Unfortunately I did buy some stock last week, shares in companies I had sold the previous week and really wanted to keep. In these markets there is a danger of getting whipsawed.

[noirua] 11/3/2020 20:41

DOW40 finishes down 5.9%. Carnage on the FTSE100 in the morning.

[kemche] 11/3/2020 16:24

That will help!

[noirua] 11/3/2020 15:18

Revamp of thread taking place. Apologies whilst this is going on as some items will not be available for awhile.

[torp] 11/3/2020 13:10

Yep I absolutely will not get caught here. No doubts at all in my mind that Bell
is doing the same old same old whack out a "Nothing" RNS on the run up to dilution.

Over at RGM they had 1.5 billion shares in issue and then issued over 7 billion more and
consolidated on a 1-100 basis. Just a total nonsense with all the usual
ramping from the beneficiaries of discounted placing shares.

I can only expect something similar here.

Bell has already decimated the share price so badly here that he's already had to:

1. Lower the nominal share price from 0.1p to 0.01p so dilution could continue

2. Consolidated the shares on a 1-20 (or 1-25) basis.


Just before Christmas they changed their broker back to their old friends
Cornhill Capital (now renamed as Pello). The placing experts. In fact Cornhill
was fined over £200,000 by the FCA for the illegal forward selling of placing
shares with New World Oil. RRR imho further damns itself by the company it keeps.

Nothing is ever going to change here. The BOD imho run this as a pure lifestyle
venture for their personal enrichment. Most of the money goes to director
salaries and ridiculous amounts of Admin and other expenses. It's a total sucker
share imho and so a huge avoid for me.


Over £16m cash has been raised by dilution in the past 7-8 years here. In the
same time period they've expended over £12m of that just on Admin.


It's utterly ridiculous and outrageous that the situation persists imho.

I definitely will not be getting caught in any imminent placing here.

Total barge pole

DYOR

[noirua] 11/3/2020 11:14

Gold is up a bit this morning which is cheery and hopefully you spotted GGP and took a profit this morning. An advancement here at RRR.

Wondering this morning if some Kenyan investors might see an opportunity here regards Mid Migori.

[kemche] 11/3/2020 07:14

Classic RRR RNS issued at "no one is looking o'clock" full of piffle.
Must be running on empty now.

Confetti o'clock soon. IF they can get one away. Even the death spiral providers must balk at the idea.

[noirua] 10/3/2020 22:39

Following the issue of the 6,000,000 new ordinary shares, the issued share capital of the Company consists of 682,049,662 ordinary shares of 0.01p each with voting rights. No Ordinary Shares are held in Treasury.

Democratic Republic of Congo
10 March 2020: 6.00pm


The Company announced on 25 February 2020 that a new phase of exploration was to begin on the Luanshimba license, 80% owned, which is prospective for copper and gold. Planning discussions have been held with the Company's geological advisors to ensure the most cost-effective programme. Quotes for some of the geophysical work are awaited.

In relation to the Company's other concession interests, held in a 50.1% owned joint venture, discussions have been held in recent weeks with each of the partners to co-ordinate work going forward, and reports are being compiled on the periods to date for submission to Gécamines.

Further to the announcement of 27 June 2019, the final $100,000 of payments to the vendors has now been made, through the payment of $50,000 in cash in December and through the subsequent issue of 6,000,000 new ordinary shares in the Company today at a price of 0.6 pence a share.

Red Rock Chairman Andrew Bell comments : "We continue to work on progressing our existing interests in the Democratic Republic of Congo, at the same time building our network and reviewing new opportunities. We look forward to announcing further developments over the coming weeks."

[torp] 10/3/2020 18:33

Greenpastures2 - "It's well known that those sticking with Red Rock are those that
are hoping a mining license comes through for Mid Migori."


And yet before RRR had it's Migori license revoked no-one was remotely interested
imho. The antics of the BOD were just the same. Endless dilution, preposterous
amounts expended on Admin and other expenses, etc etc

If they get another Migori license I can't see anything changing.

Only one thing will ever change fortunes here and that is the total removal and
replacement of the existing BOD.

DYOR

[torp] 10/3/2020 18:26

The harsh damning truth of this share is underpinned by the simple facts in each Annual Report
published for the past 8 years. This is really all one needs to know and understand.

Here are the hard facts:


Losses made each year, plus amounts raised in cash through dilution placings and amounts expended on Admin


2012 - Loss of £1,962,882 --- raised £4,441,844 - Admin £2,275,786
2013 - Loss of £22,105,562 -- raised £4,103,795 - Admin £4,751,948
2014 - Loss of £4,113,460 --- raised £2,723,861 - Admin £1,563,808
2015 - Loss of £8,411,541 --- raised £2,327,377 - Admin £1,334,404
2016 - Loss of £283,280 ----- raised £1,155,323 - Admin £758,351
2017 - Loss of £1,114,213 --- raised £300,000 --- Admin £644,688
2018 - Profit £78,120 ------- raised £421,668 --- Admin £849,518
2019 - Loss of £1,723,881 --- raised £853,089 --- Admin £591,777


Total Raised - £16,326,957

Total Admin - £12,770,280



This is where the money goes. Over £16m raised in cash and of that, over £12m
of it frittered on Admin expenses.

This is the very definition of an AIM lifestyle venture imho and is why there is
not now, nor ever will be, any shareholder value here. The share price only ever continues
Southward (barring the odd pumped spike) because this BOD run the company in this way

The 10yr chart shows perfectly the share price decimation this has caused.

Noirua is desperate to get naive punters to buy the shares here. He is massively
down on his positions here and was trying to get people to buy in at 0.6p levels.

It is for me a total, total avoid.

DYOR

[noirua] 10/3/2020 17:00

greenpastures2, it looks as if all these market moves are too raw at the moment. You might be right though I'm hoping all my gold stocks manage to hold up well.

It's well known that those sticking with Red Rock are those that are hoping a mining license comes through for Mid Migori. The grades are not high but there is a JORC resource in place. All the other negatives and positives together matter little.

As to Wall Street it is difficult to know as many are covering positions and it may take all week to play out.
The Ten Year Bond is a flight to safety I suppose.

[greenpastures2] 10/3/2020 16:43

Down day for gold. It is because a re-bound on Wall St was anticipated Noirua.

I am not sure the re-bound has amounted to much so far and I think I will wait awhile.

See how the virus spreads in the US and look for a turn up in the interest rate on the 10 year T Bond.

Does that seem sensible?

[noirua] 10/3/2020 16:11

Coronavirus stats and map: