Red Rock Resources Share Discussion Threads

[noirua] 02/9/2021 14:50

Soma Gold Achieves Record Production in Month of August
2 September 2021

[noirua] 02/9/2021 14:43

Looking at the video at #11341 it is not impressive. At 1p I will steer clear of GCAP. If the gold price stays where it is the shares may well fall back to 0.8p. Looks vulnerable that mining operation.

As far as Mikei is concerned AB said a few years back that the resource is low grade and RRR would seek to sell. Since then efforts are being made to increase the resource so his thoughts may have altered as well.

[noirua] 02/9/2021 13:40

At 0.55p - 0.60p Red Rock shares could be the right price or overvalued or undervalued. That's the gamble you take here. In recent times the shares have paraded from 0.18p up to 1.2p so 0.575p stands roughly in the middle of the great parade.

If you bought it at 1.2p you are a very unhappy bunny. If you bought it at 0.18p you are a bunny full of happiness.

[mininglamp] 02/9/2021 12:47

Very interesting for Red Rock shareholders, explains the activity in Kenya from on site - described as the next 'hot spot' for gold exploration,

The commentary is initially in German but moves to English, once again Red Rock are mentioned.

[kemche] 02/9/2021 12:38

I, on the other hand, continue to see Red Rock as materially overvalued.

[noirua] 02/9/2021 12:36

Caracal Gold in Kenya: Kilimapesa has a current Mineral Resource of 8,715,291 tonnes at 2.40 g/t gold for 671,446oz at a cut-off of 1 g/t. This resource is JORC Compliant and comprises the Kilimapesa Hill and the Red Ray deposits, both of which are located close to the Kilimapesa Gold Processing Plant.


Red Rock's website is out of date and the JORC resource stated is wrong.
February 2021: The total mineral resource is estimated at 15.13mln tonnes at 1.49 gram per tonne of gold, with a contained metal content of 723,000 ounces of gold.

The reported ounces of gold were reduced by 39% but the gold grade increased by 18%.

[mininglamp] 02/9/2021 12:20

My understanding is Caracal Gold have only recently acquired the Kilimapesa Gold Mine and
licences, their aim is to recommence production in stages to a initial 500 oz a month to
1000 and then 1500 oz per month and then grow it significantly from there.

Their medium term aim is more interesting as it suggests they are looking to acquire licences to
eventually build production to higher levels.

Their CFO mentioned Red Rock in the recent interview as a nearby AIM company,
given the mine is close to Red Rock ground it would surely suggest some form of deal can be struck.

In essence Caracal is a explorer with a mine that needs investment, they have £5m now to enhance
the mine and their aspirations are dynamic.

It is interesting that Red Rock and its broker (via the recent note) have not mentioned Caracal, makes you
wonder why, maybe a deal is coming ?

I continue to see Red Rock as materially undervalued.

[noirua] 02/9/2021 11:22

My suggestion is for RRAL and Mikei, Kenya to become one separate company together with POW's other interests in Australia. Perhaps named as 'Red Power PLC'.

[kemche] 02/9/2021 10:44

Yes but aside from that.

[noirua] 02/9/2021 10:41

Hi MiningLamp, Caracal Gold is in fact a gold producer as well as an explorer. So it doesn't fit into the same camp as RRAL. It would take some in-depth research to balance the larger landholding of RRAL against a producer.

Caracal -Caracal Gold plc | LSE:GCAT |
Our aim is to rapidly increase gold production to +50,000ozs per annum from our existing and new operations and increase our JORC compliant resource base to +3Moz within 12-18 months from listing.

Caracal Gold plc, the gold producer with operations in East Africa, is pleased
to announce that at 08:00 today its ordinary shares will commence trading on
the Main Market for listed securities of the London Stock Exchange plc ('LSE')
under the ticker GCAT ('Readmission') with a contemporaneous dual listing on the
Frankfurt Stock Exchange (WKN: A2AM01 and Ticker: FSE: 6IK). As part of the
Readmission process, the Company has raised gross proceeds of approximately
£5,493,885 through the issue of 638,951,276 Placing Shares completed in two
rounds at a placing price of £0.01 per share, implying a market
capitalisation of circa £14.5 million on Readmission.

[mininglamp] 02/9/2021 07:49

Nearby to Red Rock Kenyan gold explorer Caracal Gold attained a £14.5m valuation, their shares were admitted to the Main Market on Tuesday.

Their licence area is around 50k sq km verses Red Rock circa 200k sq km.

Once again this listing shows the chronic undervaluation of Red Rock, it can only be a matter of time before the market latches on.

The recent broker note by First Equity offering a 1.6p target price does seem conservative.

[noirua] 02/9/2021 00:47

I notice kemche you have been with ADVFN for over 21 years despite us rarely agreeing over that time. I notice the_debt_collector has only been here a little more than a few years.

#11324 tells it how it is and most investors reading it know already that the mining sector is high risk and that of microcaps even more so. Hopefully, matters will go Red Rock's way though it's best to present it how it is.

As to the past tarnished record, I leave that to the very many investors up to 2016 who knows the history better than I.

[kemche] 01/9/2021 22:38

Oh but the entities of it all.

[the_debt_collector] 01/9/2021 22:07

Bashers are either failed investors or market entities (e.g. market makers) trying to keep a cap on the price to protect their book.

They have no interest in others, when a stock rises they vanish and come back when the heat has died down and start the process again.

Unfortunately inexperienced investors fall for their game and often miss large % rises.

Ignore them !

[kemche] 01/9/2021 21:31

12 August 2021

Red Rock Resources Plc announces that it has been informed of dealings on 11 August 2021 by a director in the Ordinary Shares of 0.01 pence ("Shares") in the Company.

Mr Andrew Bell, a director, has sold 1,801,637 Shares at a price of 0.565 pence.

[kemche] 01/9/2021 21:30

Care to guess the price of RRR 1400 posts ago??
Care to guess the price of RGM when I first started posting there?

Would do well to pipe down a notch lest you reveal yourself to be the utter imbecile that you quite obviously are.

Fundraising anyone?

[the_debt_collector] 01/9/2021 21:23

kemche ----> "never have been a shareholder here"

Yet has posted over 1,400 times on this BB - all negative

Note, this entity was trashing Corcel when Mr Debt was promoting the investment proposition sub 1p, a few months later the shares hit 2.4p

[kemche] 01/9/2021 21:03

"both probably economically bankrupt to boot." Au contraire, as I am not, and never have been a shareholder here.

"but offer nothing material" - are you referring to Bell?

[noirua] 01/9/2021 20:24

The broker note omits to say how many shares held by Red Rock are in hock to loan providers. Certainly 20 million Power Metal are and a large percentage of Jupiter Mines. The share price of Jupiter is now at 25c down from 32c recently and Juno Minerals at 17c compared to the IPO at 25c. Power Metal shares are at 1.9p compared to 3.25p.

Having said that it is advantageous to have quoted shares that can be easily sold. RRR could sell 25 million POW for £487,500 if the market is strong enough.

Whatever Jupiter shares are left is uncertain as Red Rock has not made an announcement on the holding lately. Particularly as to whether they have sold anymore.

Shares in Corcell and Juno could fetch about £200,000.

[Somehow, and using guessology about the Jupiter Shares, my feeling is that the value given of £3.06 million including cash held as stated in the broker note looks wrong - being polite that is]

Elephant Oil is a smallholding as stated by AB and as they say, is likely to IPO. The sum obtainable is not known but Red Rock would not see a large sum from this.

The IPO on AIM of RRAL would be very good if the gold explorers were in fine fettle. As we know the market has fallen badly. If they get this one away at a good price this year I will take off both my hat and mask to them.

Mikei remains a feather in the cap of Chairman Andrew Bell to pull this one around. How the efforts to upgrade the resource will turn out is any investor's guess. The gold sector is as said well down. So not a time to make deals unless under both pressure and cash stress.

Luanshimba is in early-stage exploration and investors are probably right to throw doubts on this one with no news on Musonoi.

----

SO Red Rock will need cash early next year it seems. If the sector comes out of the doldrums that will be great. If it stays low or goes even lower...

[the_debt_collector] 01/9/2021 20:21

Little is known about the upcoming IPO of Elephant Oil (take note how the bashers used to
trash this investment held by RRR) the initial outlay was around £150,000.

Red Rock are one of the largest shareholders in EO, with just over 1m shares, these have been
valued (conservatively) at £1m by First Equity, another AIM company commented their 150,000
shares could have meaningful value recently.

So, out of the blue, Red Rock could have a £1m investment that has previously been considered
worthless.

Whoever are selling Red Rock shares are either foolish or shorting in the hope of getting their forward
sold shares back in a placing, they could get seriously burnt !

In the past RRR has been a rolling short but Bell can no longer issue shares at will, he needs
shareholder approval, this time there are other options to raise funds when the time arrives.

[graylyn1] 01/9/2021 15:26

It is a very conservative assessment, but that is better than overcooking the valuation.

edit: even based on that we have almost a 3 bag from here.

[the_debt_collector] 01/9/2021 14:22

That broker note looks pretty darn conservative to me and seemingly contradicts statements from Bell and more importantly Johnson at Power Metals.

Target price only 1.6p ??