Red Rock Resources Share Discussion Threads

[noirua] 21/1/2021 10:49

I cant see RRR applying for JUNO MINERALS Limited ( Mount Mason) shares in the present financial situation. Highly speculative with views that high-grade iron prices have peaked. Continued demand from China but not so from the west. There must be a limit to China's present building expansion. Follow through on the Mount Mason separation should hold the RRR price in check even though I'd like it lower to increase my holding.
Red Rock shares are priced up with events.

Investors outside of Australia and New Zealand will probably not be allowed to take part in the JUNO float. That is usually the case with Australian investment IPOs.

[noirua] 18/1/2021 20:43

Suppressed News:

[gasman10] 18/1/2021 17:31

I was right lol.

[noirua] 18/1/2021 12:59

Manganese price disappointing after the lift in the iron ore price.

[kemche] 15/1/2021 11:38

Fundraising soon?
Already?

[noirua] 15/1/2021 11:35

The Red Rock share price is a gamble but at present prices IMHO less of a gamble than Power Metal - at present prices POW 3p and RRR 1.05p. Mind you, the roulette wheel turns for each venture.

POW has no debts and cash rolls in with each warrant conversion. However, the company appears to have enacted compulsory conversions and some may be scrambling for cash.

Red Rock has short-term debts backed mainly with Jupiter and Power Metal shares but not all by far and the 29 of January date is a fence not to refuse at. However, AB and Co are clever at maneuvering debt but sometimes not to RRR shareholder's advantage.
A lot of shares will be issued if Kansai wants them though RRR may well be battling behind the scenes to conjure up a deal. Will take all the cleverness of Noddy and Big Ears this one.

[noirua] 15/1/2021 00:01

Not mentioned in the Q and A session:

On 21 December 2020, the Company agreed to restructure payments due to Kansai Mining following the renewal of the Company's exploration licenses held over the Migori Gold Project in Kenya.
Of the US$2.5m cash payment due under the original agreement executed on 15 June 2018 within three months of license renewal, the Company agreed to pay $1m in cash immediately, US$0.5 million of which was paid on 24 December 2020, with a further $1.5m to be paid in cash or stock at Kansai's discretion, by 29 January 2021.
Any shares issued under this second payment were to be priced at the closing price of the Company's shares on the date of issue.

It will be interesting to see if Kansai demands cash or go for shares.

Also, I thought the questions put by Zak Mir were not penetrating enough and gave AB an easy ride. Anyway, I expect AB would have maneuvered around them, something he is good at, as well as surviving.

There is a similar company in Australia to Red Rock Australasia Limited which has a market cap of C$5.4 million. ( see my post on POW Thread ). So RRR and POW will have to work hard to make a great deal out of their new venture.

[kemche] 14/1/2021 23:35

quelle surprise!

[noirua] 14/1/2021 23:34

Just to confirm that the Q and A session on 12 January has changed nothing in the above header.

[noirua] 08/1/2021 12:58

Kansai is thought to be in conversations with Red Rock Resources about the sum of USD$1.5 million due by 29 January. Sticking points are possibly a request to Kansai to push the date back and a counter demand that they having the opportunity to invest in RRR shares at the closing price on the day be tempered somewhat.

[kemche] 08/1/2021 11:02

I suspect all Q's will be vetted and none of any significance will be A'd.

Like "What shareholder value have you created in your entire tenure?"
How much have you personally benefitted from RRR - in salary and other expenses?
Who was the Amulet moneys paid to? Via which conduit?

One could presumably ask. Theoretically speaking.

[noirua] 07/1/2021 14:09

kemche et al, The liability section will take some time to work out as much has happened after 30 June 2020. Some liabilities are covered or paid by Jupiter shares, POW shares, and Soma.

Soma shares are also nearly all gone.
AB and Co seem to be giving up or tying up share interests and going for developing existing assets.
On 21 December 2020 the Company agreed to restructure payments due to Kansai Mining following renewal of the Company's exploration licenses held over the Migori Gold Project in Kenya.
Of the US$2.5m cash payment due under the original agreement executed on 15 June 2018 within three months of license renewal, the Company agreed to pay $1m in cash immediately, US$0.5 million of which was paid on 24 December 2020, with a further $1.5m to be paid in cash or stock at Kansai's discretion, by 29 January 2021.
Any shares issued under this second payment were to be priced at the closing price of the Company's shares on the date of issue.

It will be interesting to see if Kansai demands cash or go for shares.

[kemche] 07/1/2021 14:06

kemche2 Jan '21 - 13:22 - 10639 of 10649 Edit
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Noirus, Did the accounts mention current liabilities at all? How will they be paid?

[kemche] 07/1/2021 13:53

II on board then. Goodbye Jupiter and POW shares.

[noirua] 07/1/2021 13:39

... issued Riverfort Global Opportunities PCC Limited and YA II PN Limited a total of 16,000,000 thirty-six month warrants, half exercisable at GBP0.016 and the other half at GBP0.024 per share in consideration of the extension of existing facilities and the grant of a six-month repayment holiday on drawn amounts.

The Company further announced that it had appointed CSA Global UK Limited to provide an updated mineral resource estimate for the Company's Kenyan gold project. The purpose of this work would be to bring.

This post to be clarified fully later.

[noirua] 07/1/2021 13:29

After the year-end, on 6 November 2020, the Company's 100% owned subsidiary, RRR Coal Ltd, refinanced its existing loan facility with Riverfort Global Opportunities PCC Ltd and YA II PN Ltd, increasing the total amount available for draw-down to US$2.0 million, and drawing down an initial gross amount of US$1.0 million with additional tranches available at the lenders' absolute discretion.

The notes are secured on 6,302,000 shares in Jupiter Mines Ltd as well as 20,000,000 shares in Power Metal Resources Plc, which were transferred from the Company to an escrow account for the duration of the loan, as well as by a corporate guarantee executed by Red Rock Resources Plc.

The notes carry an interest rate of 10% and come with a 7.5% implementation fee and are repayable over a six-month period starting in June 2021.

Above information taken from the Annual Report of December 2020.

[noirua] 06/1/2021 19:15

Jupiter Mines' manganese price chart:

[kemche] 04/1/2021 12:44

Forward selling?

[noirua] 04/1/2021 12:36

The Ditau Project news on POW would have been totally ignored a few years ago. Which shows how times have changed for those who stuck it out.

[noirua] 04/1/2021 12:24

I hope you all bought ARB shares when prompted. RRR and POW are also doing well, but not as well. Anything can suddenly happen so it's always our call. Good luck!

Gold shares and silver are also doing well and AB and PJ will not be unpleased by that. GPM much discounted for the punters in smaller goldies - just a prompt, nothing else - mind you $500m is small.

[noirua] 02/1/2021 22:00

WELL! -
and

[noirua] 02/1/2021 21:55

Probably helpful to some around here.