Red Rock Resources Share Discussion Threads

[clunes100] 02/1/2021 11:27

When is the placement coming and how much?

[bigman786] 31/12/2020 10:58

We are talking about the DRC here and as to be expected.

[noirua] 31/12/2020 10:42

At first glance, the Annual Report out today does not state anything that is not already known.

The Kenya position does show that Red Rock has ambitions to involve a Chinese company but everything in that respect is on ice due to the covid situation. This may well make money for Red Rock though there are fences to jump including The Chair and Beechers Brook. A bit of a 'yellow brick road' and maybe it will be AB behind the curtain.

The float of the Australian gold tenements in Canada now only mentions a Canadian float. Whether this attempt is on the TSX, TSXV, or CSM market is now unclear.
[The gold price and sentiment matters hugely here. Upside if gold motors on past the important $2,000 level and downside if it falls gradually to the $1,800 level or lower. Odds are favorable though the floatation price is a major factor here. POW has plenty of cash from warrant conversions but RRR may have to sell some shares or other assets - may raise cash another way]

The DRC assets are more in Limbo than was possibly expected and no mention of a JORC resource for Musonoi that was promised, once, by February 2019. So generally disappointing.
[ ]

Note of some El Limon royalties arriving and further to come on the higher gold price is mildly warming.

The Jupiter holding was reduced during the year - can't find any mention of the sale of Jupiter shares in the Chairman's statement, though hunt and you will find it. Dividend income was well down but AB remains hopeful of the iron ore float happening.
[ Jupiter Mines Limited - 9,524,914 shares 0.49% as at 30 June 2020 - valued at 31.5c a share = AUD$3,000,000 - Page 80.]

Profit was given as £5.156 million. The sale of assets [ probably Jupiter shares ] amounted to £504,000.
Reversal of impairment of £5.28 million on Kenya assets.
In real terms £5.156m - £504K - £5.28m = a loss for the year at £628,000.

RRR has four shareholdings: POW has risen from 0.5p to about 2.65p which is a great performance. [ maybe higher risk on drilling results than RRR themselves ]
ASX:JMS still priced at about 31c against the 40c float a few years ago: A good investment that has been much sold down by Red Rock. Dividends are an essential plus here and hope on the iron royalties a fair way down the line.
Corcell investment ( formerly Regency Mines ) has been a disaster since RRR split from RGM many years back. Not worth much so no impact.
Soma is another poor performer purchased at the equivalent of C$2 and now at about 30c. Probably undervalued at that price but only my opinion.

This is a cost factor for RRR indirectly through subsidiaries. It May all work out but may not.
From the Annual Report: The process of recruiting additional staff and directors has been underway for several months at the subsidiary level, and at the parent is now beginning. As we develop, our capabilities and structure have to develop to match.

There is a great deal of information, bluster, and waffle in the report. RRR has no copper so all of that is a mixture of information, bluster, hope, and waffle. RRR has gold in the ground in Kenya but zero production. Australia is many years off production with exploration so far also at zero. The Jupiter interest has iron ore in the ground but again zero production. Manganese has most of its future production in the ground in the Northern Cape and actual production continues apace - the manganese price is volatile.
POW is becoming a bigger interest to Red Rock though it has zero production and zero JORC resource. So comment here is hope more than anything.
Soma has gold production and Red Rock is starting to receive royalties from El Limon so maybe things will look up from here on in.

Below might work out well but how much more cash above the $90,000 already paid will be needed in this legal matter? It May be great but how long will it take to resolve - Red Rock's wallet is open and on the table full of bucks.
Red Rock now has sufficient confidence in its ability to work within the predominantly francophone environment of the DRC to have become involved most recently in supporting the administrators and secured creditors of an Australian company Vector Resources Limited (In Administration) ("Vector"), in order that Vector should have time for a reconstruction and in order to assist with negotiation. Red Rock believes that it is capable of adding value to Adidi-Kanga, a substantial and high-grade gold project in the DRC where a majority interest is held by Vector, but where Vector's rights are being challenged.


View so far. A reasonable gamble on so many things coming off and backed by marketable shareholdings. If they all come off that's great and if none do then remember it was a gamble.
Some individuals have large shareholdings and are well in the money with RRR shares worth over 1p.

[kemche] 29/12/2020 12:57

Getting less whooshy now.

[fillipe] 29/12/2020 09:49

Good to see the asking nicely over the 1p mark.

f

[algernon2] 26/12/2020 17:55

My Xmas target for POW in the New Year 2021 5 pence to 45 pence. Remember you saw it here first.

[kemche] 24/12/2020 14:06

My targets are CRCL 0.00001p to .01p, RRR 0.0001p to 1p post 2 consolidations post fundraisings, POW 0.5p.

[noirua] 24/12/2020 11:56

With this new venture with $90,000 upfront, the Australian/Canadian float and other money eating ventures. Then cash-raising and new shares issued may mean a raising directly and indirectly of as much as the present market cap. If the Canadian float goes very well, it might, then that could change.

I see POW as a mega-risk gamble at 2.55p and depends on high expectations on drilling results and Canadian gold flotation. Drilling results and gold price plus whether all these new warrant conversion shares are held on to or dumped.

I see RRR as a high-risk gamble with a dodgy driver. Also depends on Gold asset tenement flotation in Canada and high-risk gambles. Depends on the gold price as to how things go.

I see ARB at a high valuation but may well move 3:1 with Bitcoin - nothing is guaranteed, however. A bitcoin miner depending on new machines to deliver with older ones not used anymore. They might bring the old machines back into play if Bitcoin reaches $30,000.


My Xmas targets in 2021, FOR ME ONLY SO PLEASE IGNORE THIS BANTER are POW 0.5p to 5.5p wide range as such a gamble; RRR 0.4p to 1.8p wide range due to driver; and ARB 20p to £2.00 depending on Bitcoin price and efficiency continuing with new machines and heat controlling of machines.

Mind you we like to have a guess but it is no more than just that. Nothing clever in getting it accidentally right.

[kemche] 24/12/2020 11:20

How many fundraisings are you forecasting Noirua?

[noirua] 24/12/2020 11:17

kemche, you may well prove to be right though these cash-raisings may well be taken in many different guises. If you are wrong, I believe, it is only that you underrate the number going forward into 2021 and 2022.

Good luck all, Happy Xmas in whatever form it comes. Maybe Gold, silver led by blockchain is the continued way to go next year. At least two former shareholders who lost money in RRR followed me into ARB at under 8p and are happier bunnies at Xmas time.

[kemche] 24/12/2020 11:01

I forecast 3 fundraisings in 2021.

[noirua] 24/12/2020 10:59

All fair comments posted here. AB remains a colorful character here, all colors of the rainbow and a few that are missing. He will go, with fellow directors, for anything he sees as an opportunity becking with shareholders cash - importantly he is one of them.
My own view is he should leave these new deals on hold for a year or so even if that risks them being lost.

In a high-risk sector are RRR with other miners and a microcap without a truckload of cash to spend on developments. There lies the risk in the future though Mr. Charles Topham holds over 17% - some may point out, quite rightly, that he took onboard shares at 0.51p and they collapsed to 0.18p at one stage. Now he could gleefully jump up and down with joyful success; some might say, "for how long though?"

[commie bstard] 23/12/2020 16:52

These kind of junior exploration stocks are speculative - not suitable as investments.

[greenpastures2] 23/12/2020 16:39

Noirua, it is better not to invest in such companies. There are lots more fish in the sea. Why waste your time on companies that destroy shareholder value?

[commie bstard] 23/12/2020 16:16

Red Rock was by far the best trade for me for in 2020.

[noirua] 23/12/2020 15:19

The shares of RRR would be far higher if AB and Co. did not go in for things that appear on the face of it to be a complete gamble. If the Chairman put up $30,000 of his own money in the most recent venture and personally took one-third of the risk we would have faith in the outcome.
I point recently, as well, to Steelmin and the high-risk moves there and a punt in the dark that was Amulet.

The directors are good at shooting not themselves in the foot, in this regard, but all the shareholders past and present.

My thought is, "Directors or Red Rock Resources PLC - please stop doing it. You are far better than that."

[noirua] 21/12/2020 13:13

Vector Group ( NB: RNS today)

Now being liquidated.

This event takes some looking into. My first view having looked at it fairly quickly is 'run for the hills'.

[noirua] 21/12/2020 10:45

DRC - I couldn't possibly disagree with you kemche.

[kemche] 21/12/2020 10:30

DRC - I see another Amulet brewing.

[kemche] 21/12/2020 10:27

This is huuuuuge news.

etc.

[noirua] 21/12/2020 10:17

There are two announcements today.

---

The one on Arbitration needs to be carefully read as these events can go on and on.

White Energy Limited's Arbitration started in May 2015 and a result is expected in February or March this year

Univision's former subsidiary Leader Smart Holdings Limited's partner has been in Arbitration for 7 years and 7 months.

The costs involved can be horrendous if it is drawn out

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The RNS on Jupiter Mines is encouraging on the iron ore IPO.


This link points to an error by Red Rock Resources PLC concerning the value of their shares in Jupiter Mines Ltd. If it is an error the matter is MISLEADING and needs correcting!
Jupiter Mines Limited - 9,524,914 shares 0.49% as at 30 June 2020 - valued at 29c a share = £1,510,000 - Page 80.

[bigman786] 21/12/2020 07:17

Get your head around that then !