Red Rock Resources Share Discussion Threads

[torp] 11/9/2020 15:36

@Noirua You said: "I'm listening to this 25 minute podcast. AB has confirmed that Red Rock has NOT got a mining license for its assets in Kenya - post by Torp was misleading in this regard" What post of mine was misleading in that respect? I stated clearly that RRR has PROSPECTING licenses not MINING licenses so I am totally correct. Explain pls

[proctologist] 11/9/2020 14:31

httpS://miningmaven.com/companies/red-rock-resources

[proctologist] 11/9/2020 14:30

Barrack Gold's North Mara project is just across the boarder to Migori in Tanzania.

[kemche] 11/9/2020 11:39

Noirua did mention a Chinese JV at Musonoi so RRR could possibly do a 2 for 1 by chucking in the Migori as well.

[proctologist] 11/9/2020 10:39

I wasn't aware, but that would depend on whether they intended to exploit the resource in accordance with the terms granted under the original mining license which is unlikely after the passage of so much time- also I would expect a jv of some sort would be the most expedient route to future development of Migori. It would take too long to reestablish the camp and employ and mobilize a new team. They need to strike whilst the gold iron is hot.

[proctologist] 11/9/2020 10:27

Migori has a 1.2m oz JORC - that by definition makes it an advanced exploration project!

[noirua] 11/9/2020 10:22

Proctologist, Red Rock's subsidiary, and partner at the time, had a mining license already back in 2015. So everything is still in place for it to be renewed in accordance with the court's decision in favor of Red Rock. So there is no need to put forward any further plan. https://uk.advfn.com/cmn/fbb/thread.php3?id=45422858

[kemche] 11/9/2020 10:15

"Migori is still advanced exploration." It's not even that.

[proctologist] 11/9/2020 10:13

You can't expect to talk about a mining license at any stage until you are ready to submit a plan to mine/extract. Migori is still advanced exploration.

[kemche] 11/9/2020 09:50

PMSL! A corker of a post Noirua. Thanks for the giggle.

[noirua] 11/9/2020 09:38

Clunes 100 et al, The shares in Corcel, Jupiter and Soma Gold look vulnerable. The loan covering Jupiter shares appears to have been satisfied by selling shares in Jupiter. Thus also giving some cash to enter the coffers of Red Rock for overheads including salary, and expenses built up by AB and Co. I'm listening to this 25 minute podcast. AB has confirmed that Red Rock has NOT got a mining license for its assets in Kenya - post by Torp was misleading in this regard. The company just has new rights to continue with exploration but they have a JORC resource anyway - minus the Artisans having taken a lot of near surface gold and continue to do so. Andrew B is now waffling on and on about Jupiter Mines, disappointing: Jupiter will reduce the dividend this year and although the iron side looks more exciting it will be a fair way down the line before there are returns. Slovakian interests look like duds at present, could change, as the government is unlikely to give mining rights. The Chairman waffled even more so on Musonoi and really said zero about how near it is to a JORC resource - disappointing. However, he has visited so that is a plus rather than negative. The Victorian assets. AB said very little other than the gold bull market is something one wants to be in. No comments on the need to sell the companies shares held. Or indeed what plans there are to raise funds to progress. Musonoi, Mid-Migori and Victorian gold assets. The shares remain an out and out gamble. Personally not able to work out what the odds are in these Stakes.

[clunes100] 11/9/2020 07:31

Procto, good find, Bell just needs to deliver some of these prospects as shareholder value without too much dilution.

[proctologist] 10/9/2020 13:58

Interview with chairman httpS://www.pscp.tv/w/cijWwjFYSlFrYXZBTFJiakx8MXpxS1ZlTHBiT2R4QmWQi1nPPaV7HZtzvTUAB8-IBlMApu5q2d2PBzbiF72h

[torp] 09/9/2020 14:26

Noirua The JMS share price on Monday when the RNS was released was approx. AUD 0.27 and the charts show it was that level for the 3-4 days prior to that. That would indicate that the JMS holding was about 14.8m shares. You're surely not suggesting that RRR knew in advance that the JMS share price would be AUD 0.255 today and thus valued it with that future forecast ?!!! Even with a JMS share price of AUD 0.255 that would put RRR's holding at about 15.6m shares if the value is AUD 4m which is still considerably less than the 17.02m shares that were previously stated in RNS's. What you refer to as "the more recent low point of 0.23" happened way back in April looking at the chart. Either I am missing something or the JMS holding has been reduced. Why don't you ask your mate AB for the exact number of JMS shares and post it here?

[noirua] 09/9/2020 07:04

Howdy Torp, We appear to be singing from the same book of hymns here. However, errors on line 7 and line 9. Jupiter shares are now at 25.5c, close to their more recent low point of 23c. Slowness in getting a sale of iron ore assets and combined fall in the manganese price and drop in dividend payment to blame. The shares low point was 4.5c in 2013 and high point at 42c in 2018. Problems in South Africa not likely to go away so may get to challenge 20c unless they change tack.

[torp] 08/9/2020 19:04

Noirua - "So Red Rock is really for seasoned gamblers" Like AB u mean? lol SP has begun the inevitable tank imho The realisation of the cash position (only £139K as at 31st Dec) Admin running at £47,000 per month Likelihood that more "crown jewel" JMS shares have been pawned off again without RNS The need to find 2.5 million for Migori now that licenses have been renewed etc etc £830,000 worth of CLNs still convertible at 0.6p. As the share price falls holders will surely quickly convert whilst they still can and take a nice profit imho. I still firmly believe mega dilution is coming as a result of the above. Each to their own DYOR

[noirua] 08/9/2020 16:15

First testing point on the chart is 0.75p and then more likely testing points at 0.6p, and 0.4p. 0.6p on the long term chart. The latest Slovac Gold asset buy and sale of Jupiter shares are worrisome. This link to Slovak mines is more bullish: Https://stockhead.com.au/resources/ipo-gold-and-silver-explorer-hopes-to-uncover-untapped-riches-in-slovakia/ So Red Rock is really for seasoned gamblers.

[noirua] 08/9/2020 16:12

Evil Knieval at Play: Https://masterinvestor.co.uk/evil-diaries/evil-knievil-the-on-off-trade/ 8 September

[torp] 08/9/2020 13:46

thanks corrected

[new_scally] 07/9/2020 23:15

"Share remains totally investable for me" Yes looks like torp has been turned and is now a buyer, well well

[clunes100] 07/9/2020 19:38

Torpee "Share remains totally investable for me" - is that a ramp torpee?

[torp] 07/9/2020 18:52

Without any RNSing of the fact? If true, appalling. Just utter contempt for shareholders. Common courtesy demands such things are announced. Share remains totally uninvestable for me

[kr01] 07/9/2020 18:08

Noticed that as well. 17m in April, ~15.8m by July and now ~14.5m. Offloading for sure.

[torp] 07/9/2020 16:29

Noting today's RNS which states that the JMS holding is worth just AUD 4m With Jupiter share price currently at AUD 0.27-0.275 that would mean RRR held only 14.5m-14.8m shares Yet we were previously consistently told that RRR held 17.02m shares Wondering if AB has been pawning the family silver again without an RNS? Any thoughts? Is my maths off? Would be useful for someone else to check and confirm either way.

[torp] 07/9/2020 16:24

Clunes - "I presume that one issue is that it would appear that much of the capacity is taken up with third party ore, which is not eligible for royalties, I presume?" You would presume wrong, showing as always that you are CLUEnLESS. The royalty is for all ore processed there but it has always been a paltry trickle and is a total red herring, oft ramped by the unscrupulous rampsters on LSE. It will take countless years to recoup the $3m. No-one here will still be alive by the time it happens, which it never will imho. The figures are given plainly in the latest RRR presentation on their website. Go look at it and educate yourself. It states that the estimated royalty for 2018 was just $45,000 and for 2019 was just $40,000 Why it says estimates is frankly ridiculous as we are now in 2020 so they must know exactly what the revenues were which leads me to personally believe that the actual amounts were probably less than those estimates. Either way it's a laughable tiny trickle of no meaning whatsoever. DYOR