Red Rock Resources Share Discussion Threads

[kemche] 05/6/2020 10:36

No. Because the fat man will eat it.

[clunes100] 05/6/2020 10:34

Not a brilliant track record, but on the positive whilst RRR has been flatlining since 27th May, JMS has added 9%, so perhaps we might get a tick up here?

[kemche] 03/6/2020 11:24

POW to pay license application expenses to date amounting to A$2,159 (GBP1,125) to become a 49.9% shareholder in Red Rock Australasia Pty Limited ("ProjectCo"), a wholly owned and currently non-operating exploration subsidiary of London listed Red Rock Resources plc (LON:RRR) ("Red Rock");

[kemche] 03/6/2020 11:22

The purchase price will be the clue.

[clunes100] 03/6/2020 11:09

Agree with the four points and sentiment of last post and fundraising is always a possibility with most AIM shares and particularly RRR, however, if the licences are granted, has anyone got an idea of what they might be worth? Must be worth something in an area that has generated a lot of interest over the last couple of years. These licences can be highli prospective even after the old timers have sweated digging over a patch.

[torp] 03/6/2020 09:52

Seem to remember RRR APPLYING for 3 licenses in the Ivory Coast some years ago

AFAIK the licenses were never awarded.

It's a measure of this chairman that he refuses to RNS when:

1. He makes actual loans and transactions with Amulet Diamonds

2. He makes an actual loan of £1.1m to Steelmin

3. Steelmin goes into Administration

4. He sells 1.5m of the crown jewels Jupiter shares


yet DOES put out an RNS when he has merely filled a form in to APPLY for some
gold prospecting licenses.

There's only one plausible reason for such a "Nothing" Update RNS to my mind and
that is that he is yet again looking to issue some confetti shares to raise cash
for his ridiculous salaries and preposterous Admin expenditure and is hoping
to drum up interest to boost the share price before he does it. Just my opinion.


I'll be giving this a very big avoid


DYOR

.

[kemche] 03/6/2020 09:34

"I find it to think that there much left to find."

That would fit in perfectly with all our other "assets".

Notice how much is paid for this "world class asset" - on the back of which will be a begging bowl for "exploration costs". Natch.

[greenpastures2] 03/6/2020 08:54

I have got a photo of him outside his tent. There is a note on the back-'left some for other mugs to look for'. Only joking of course.

There might be a seam or seams missed but I find it to think that there much left to find.

[clunes100] 03/6/2020 08:42

I hardly think the application for licences barely warrants a RNS, on the other hand the confirmation of prospective licences might warrant a tick up.

[kemche] 03/6/2020 08:20

green, He must have left behind huge deposits for RRR to find.

[kemche] 03/6/2020 07:52

Huge news. We have applied for vast tracks of the outback that no one wants. I can feel Australian jollies to form part of the "expenses" this year.

[torp] 02/6/2020 16:31

You have to feel for the CLN holders like poor old Helpful too.

His money is well locked in there. Conversion price was 0.8p and the CLN's
instead of being paid off have been rolled over for a third year running now and the
conversion price lowered to 0.6p. Even so, they will never get to convert their
shares imho. Helpful still desperately posting twitter links though.

No mug punters left to sell tomorrow's jam to imho.

It's like trying to sell timeshare properties in the 21st century.


SP will only keep going South as it always does imho

DYOR

[greenpastures2] 02/6/2020 13:33

I won't be doing any thing more to make him lucky so may be it has run out now.

[kemche] 02/6/2020 12:34

Very incompetent at his job. Very lucky with his wages and expenses.

[greenpastures2] 02/6/2020 12:18

Either incompetent or very unlucky or a combination I suspect.

[texaschaser] 02/6/2020 11:34

crazy execs. not for me. Torp superb analysis

[torp] 27/5/2020 15:18

CLUnEless - "At least it has a value and as each time a reserve is proved, its value as an asset will increase"


Unfortunately as you well know any and all value in any asset or holding here is
counter negated by the preposterous wastage on director salaries and Admin.

From Annual Reports:

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

Total Losses above - £39,792,939

Total Cash Raised - £16,326,957

Total Admin - £12,770,280


Just unbelievable. Over £16m cash raised by brutally diluting shareholders and
over £12m of it frittered on bloody ADMIN !!!!


That's approx. 75% of raised cash going to Admin instead of on things that add
strong shareholder value. Small wonder the despicable BOD continually issue
billions of worthless confetti shares and dilute shareholders to oblivion.

There will never be value here until that BOD is removed completely.

So many great stocks to go at during this virus crisis that are starting to
recover. I'd consider myself a complete moron to put money in here.

Another fundraise is always guaranteed. As Kemche suggests it must be about
time for yet another round of pathetic worthless confetti. Watch for increased
shameless ramping and lots of large round trades in the trade list.

It gets so old

DYOR

[kemche] 27/5/2020 14:23

"banks and farm out partners are options."

I suspect that there is another option. Only a suspicion mind!

:)

[clunes100] 27/5/2020 14:00

At least it has a value and as each time a reserve is proved, its value as an asset will increase and that is before you start mining which will obviously require financing but banks and farm out partners are options.

[kemche] 27/5/2020 11:58

Whoosh - we just don't have enough acreage around the globe. All of it very valuable.
Sheesh!

It was sooo valuable - how much did we manage to buy it for?

Fundraising o'clock is almost upon us.

[clunes100] 27/5/2020 11:55

Bell on Proactive investor stating that RRR JV has and has applied for a total of 912km2 of Victoria Licences.

[replicas1967] 27/5/2020 06:21

Result 😍

[new_scally] 27/5/2020 02:50

Breaking news

UK bakery chain Greggs (GRG.L) said on Tuesday that it planned to reopen many outlets from the middle of June, nearly three months after it closed all 2,050 of its stores.

Now you can buy a sausage roll instead of a pile of useless shares