Red Rock Resources Share Discussion Threads

[noirua] 16/9/2021 09:34

AffeMoose, You are right about all but one of the ventures pursued by RRR and that is Elephant Oil. This company is due to IPO very shortly on the NASDAQ at a time when oil prices have risen. It is true that Red Rock has written down its value by 50% though the IPO price looks to be close to the company's expectations and will give investors a good profit.

In Kenya, the jury is still out waiting for drilling results in areas on more Eastern sides of the current gold resource. Might work out well we must wait well into 2022.

More of concern is how the company will raise cash with Jupiter shares at their lowest since January 2012. Selling a lot of Power Metal shares would upset PJ unless a private buyer were interested off-market. Otherwise, Corcell shares would only bring in about £50,000 and Juno at a low of 17c. So it means putting up POW shares against further loans.

[the_debt_collector] 16/9/2021 09:27

New bashers appearing, always a good sign, I wonder how short the book really is.

Conservative broker target 1.6p and that excludes exploration upside.

[kemche] 16/9/2021 09:17

Expecting a liquidity event soon. Just for a change.

[kemche] 16/9/2021 09:16

Yes but this time it's different.

[affemoose] 16/9/2021 09:15

How many positive RNS's have this company released? Steelmin, El Limon, Iron Ore in Greenland, Diamonds in Venezuela, Candy Crush Sweets (yup), cloud computing (I know...),Rare Earths in Kenya, JV's, Tasmania, Elephant Oil (remember them??), texan Oil Wells, blah blah blah blah blah.....

Same old same old.

[kemche] 16/9/2021 09:05

People beginning to realise that this is truly extraordinary news.

[broken_arrow1] 16/9/2021 08:45

Looks like a classic turnaround situation, the drop from 1.35p attained in February was on very low volume.

[the_debt_collector] 16/9/2021 08:30

The bears are becoming desperate, RRR has always been a running short and one suspects
there is a large naked position right now, they are running scared.

The buyers entering the stock right now can see material upside ahead, no wonder, the recent
ultra conservative broker coverage which was factual and, if anything, mean with valuations
gave a target price of 1.6p a share.

[kemche] 16/9/2021 08:26

This is huge news that will liquidise stuff.

[noirua] 16/9/2021 08:19

The update isn't positive it is neutral. Information about the Kenya drilling campaign was needed but offset due to delay which always means additional expense and the cost of another compressor due to the breakdown. There was no indication as to the depth of anything found so far which is disappointing.

[aussiebeach] 16/9/2021 08:04

A positive update with lots more news to follow across the entire project portfolio, Q4 will be a very busy month for Red Rock, the re-rate is just beginning.

Shares are cheap and getting harder to buy.

[noirua] 16/9/2021 08:01

Kenya RNS 16 September 2021
-- 115.2 line KM of Induced Polarisation (IP) data was collected by a ground survey conducted on 25 degrees north lines with a 100m line spacing and 50m reading station in the Eastern Licence. -- Four important anomalous areas were recorded in Francis 2, Francis 3, Lake Bush, and Lake Bush BIF (Banded Iron Formation). -- Continuing work will be focussed on prioritising drill targets and locations for a drill programme in 2022.

In the Western license, drilling continues within the Resource area, having been interrupted by an equipment breakdown, and an additional compressor is being brought in to improve penetration and recoveries in parts of the area where the presence of graphitic shales around the level of the water table has been affecting drill performance.

In opening up this new area further east along the belt from our existing defined Resources, the IP programme has shown once more the considerable exploration upside that exists within our licenses."
Figure 1: IP Survey grid
Figure 2: Masurura charge ability compiled with previous drill holes intercepts, gold in soil geochemical contours and regional geological map in the background

Background
The MGP (100% owned by Red Rock) comprises two prospecting licences which cover approximately 245 km2, namely PL/2018/0202 and PL/2018/0203, over the Migori Greenstone Belt, and are located along the northern margin of the Tanzanian Craton. The licences extend 63 km along strike of the belt, which also hosts the Kilimapesa Gold treatment plant. The North Mara Gold Mine, which is operated by Barrick Gold, is located 30 km to the south of the MGP in Tanzania.

[affemoose] 15/9/2021 21:20

hilarious.... the reason why it isn't worth the electrons this message consumes is..... it's a crock o SSSS fella.

Consistent appalling deal-making in dirt grade deals and exceptional 'Admin' spend makes this share utter garbage

Not junk.....Garbage. there is no hope.

AVOID. read the history......it is long and dismal. Seriously ... look back. If memory seres there is 1 (ONE) deal that made a profit. Uranium, everything .. and I mean EVERYTHING, else is garbage, categoric failure.

the shares structure between this and Bells other directorships mean he is never held to account, he votes himself in.

Lifestyle company.

[mininglamp] 15/9/2021 16:18

The most recent interview Red Rock has said they will not be over promotional but let the news
do the talking, also implied that any re-rate would be sustainable based on the quality of
the news.

It does look like something material is about to hit the market, whatever, the sum of the parts project
value far exceeds the current market cap (£8m) by many multiples + Red Rock is significantly
undervalued to peers.

[kemche] 15/9/2021 15:39

Lemon royalties.

[kemche] 15/9/2021 15:37

Money from Cyprus, RRR Coal, Shyte Creek clean up costs, Sweets factory, Greenland, Amulet, Steelmin.

[aussiebeach] 15/9/2021 15:18

News is overdue across the entire project suite...

Drilling in Kenya
Drilling in the Congo
IPO of Aussie licences

All expected anytime

Possible corporate action in Kenya

Any one of the above could deliver a material valuation, no wonder the shares are
getting harder to buy.

[mininglamp] 15/9/2021 13:46

Interesting that Caracal Gold continue to talk about their aggressive licence acquisition programme in Kenya (they have mentioned Red Rock who are nearby)

They have now recruited another exploration geologist, looks like they are poised to do deals quickly.

[kemche] 15/9/2021 12:58

CRCL have Burwell and WOWO which will also help the shares held by RRR.

[the_debt_collector] 15/9/2021 12:57

I have been saying for many months Red Rock will materially re-rate and have given many
reasons as to why.

The Kenyan gold licences are probably worth double/treble the current m/cap alone, the
recent IPO of Caracal Gold has confirmed as much, their m/cap reached £20m this week, their licence
near Red Rock in Kenya is 50 sq km verses RRR 245sq km.

The current EV of Red Rock is a mere £4m, a fool can see that valuation is far far too low.

My near term target remains in the 2.5p - 3p range therefore.

[noirua] 15/9/2021 12:51

POW has taken an interest in uranium tenements that are flavour of the month. So the rise in POW will benefit the shareholding of Red Rock.

[kemche] 15/9/2021 12:48

If gold goes to $24,000 then these would be £2.65.

[noirua] 15/9/2021 12:40

Hopefully, Red Rock will bounce. However, the forecast of 1.6p was made by now an in-house broker so can be disregarded.
Forecasts in the past have been as high as 24p equivalent to 'a' today's price of 450p.
If all goes well on all drilling and gold hits $3,000 then RRR could hit 10p. If all drilling is disappointing and gold goes under $1,500 then RRR could hit 0.1p

[aussiebeach] 15/9/2021 11:56

The shares were 1.4p not so long ago, from what I can see there is no reason why they should not
return to that level, many of the resource juniors seem to have bottomed out and are starting to bounce.

Here is the link to the recent broker note that has a target price of 1.6p