Red Rock Resources Share Discussion Threads

[mininglamp] 28/10/2021 12:22

Highest volume in 6 months and we are only half way through the session.

The stock is seriously oversold.

[noirua] 28/10/2021 10:45

Red Rock have reduced their holding in Power Metal to 37,238,752 shares. 8,761,248 shares sold probably for about £156,000.
Questions now follow as to why make the move now with POW shares down 50%? Is it to just bolster up cash reserves well before needed or are cash drawdowns faster than expected?
Reparation costs in Greenland look to have continued, to clear up the mess left from a long drilling campaign - that sale for £1 in hindsight would have been worth a fortune to Red Rock had they clung on.

[david gruen] 28/10/2021 10:10

Very positive move in my opinion. Will be interesting to hear TW's view later today.

[noirua] 28/10/2021 10:04

It looks as if Red Rock have sold shares in Power Metal - probably a 77% profit on the warrants. That will certainly improve the cash situation and not please Power Metal. Some strong buying followed.

[noirua] 28/10/2021 09:59

At least healthy trading continues that is very much two-way. A great deal depends on those who trust AB and those who do not due to past failures. The recent Musonoi hope seems to have drifted away like many others.

To be fair, investors await drilling results from Kenya where AB had mentioned how much the depths of finds will decide on the commerciality and the Australian IPO in difficult gold markets for exploration minnows.

[m1sterx] 28/10/2021 09:06

Auction, now I wonder why :-)

[mininglamp] 28/10/2021 08:20

Market conditions have not been good for the juniors but there comes a point
where valuations become too low and offer shrewd investors opportunity, I believe
this is the case at RRR.

Here is the link to the broker note, a concise breakdown to get to the 1.6p
target.

[the_sage1] 28/10/2021 08:11

Looks cheap compared to peers, M&A starting in the junior space, note the recent £90m
takeover of a junior with a JORC resource of 1m oz gold at 1.2gt - Red Rock has nearly 1m oz in
Kenya alone.

Cash/investments over £3m held by Red Rock verses £5.5m m/cap ?

Recent note has a 1.6p target price.

[kemche] 27/10/2021 17:55

:)

Hope all is well.

My best to Sharon.

[kemche] 27/10/2021 17:42

All the technical have completely lined up now. Excellent interview too as per usual. I am going in nads deep as Ettie continues to deliver.

[alancapone] 27/10/2021 17:34

Looks like the bottom is in here. Might buy a few tomorrow. Liked the AB statement on Shareprophets too.

[noirua] 27/10/2021 15:58

Mawson Gold TSX: MAW:

[david gruen] 27/10/2021 13:11

Great buying opportunity. All the technical stars are lining up nicely. In for 21k.

GLA

[the bull] 27/10/2021 12:03

Just a lifestyle ceo isn't he, glad I excited at 1p

[the_sage1] 27/10/2021 08:57

The sector seems to be going through another wave of downside, cannot see it lasting
much longer as many stocks are now down 60%+ from 2021 highs.

I heard the CEO talk about Red Rock outperforming in a bull phase, so it may be worth
keeping an eye on this one.

[noirua] 26/10/2021 10:16

The manganese price has edged up to $3.11 per dmtu that is mildly encouraging after the uncertainty of the removal of Chairman Brian Gilbertson and MD Pryank Thaplyal at Jupiter. That does show that the removals of two other directors including Red Rock's Andrew Bell were an associated pattern of events. The Black Power movement and AMCI now control Jupiter Mines so the sale of some of Jupiter's shares for around 30c was timely. Dividends may now be reduced under the new Board of Directors.

Let's hope AB can dispose of the rest of Jupiter shares in a timely way and thus pay-off the loans attached to them!

[noirua] 25/10/2021 12:22

At least there is a healthy amount of trading today. Much of the belief in the latest Q&A is whether those who know the last 5 years of Red Rock believe AB or not? In particular whether he can break the failure to follow through pattern? Not sure to be sure to be sure.

Gold shares across the pond are nearly all up today. The gold price is back over $1,800. So just maybe it will continue. Past promising moves have not been that good. So cross fingers.

[noirua] 25/10/2021 09:13

Hi the_debt_collector, Other than the good points I indicated in post #11585. What is this stack of good news you say was in the Q&A broadcast?

[kemche] 24/10/2021 18:04

kemche - 28 Sep 2021 - 10:11:15 - 11499 of 11544 RED ROCK RESOURCES PLC - Information Thread - RRR
Sound advice:

the_debt_collector - 26 Apr 2019 - 06:54:07 - 7232 of 11499 RED ROCK RESOURCES PLC - Information Thread - RRR

No matter how much money this company receives via asset sales or dividend it will always be squandered on the next 'must do' project - not forgetting director remuneration.

Many take the view this company is a total avoid.

[kemche] 24/10/2021 18:03

I can confirm that I am the same person as Noirua. I am also a spiv broker, a shorter and an entity.

[the_debt_collector] 24/10/2021 17:11

Keep doing all you can Kemche and Noirua (probably the same person) to dismiss
the investment proposition.

There was a stack of good news in the Q&A, odd how this was totally ignored
in the above summary.

Bell is right that the RRR share price has fallen in line with others so
it is sector related, if the sector bounces so will Red Rock.

[noirua] 23/10/2021 13:30

I'm not sure anything much at all has changed though Part 2 was more interesting than Part 1. On the other hand it hadn't a lot to beat.

It looks as if thoughts about a bid by GCAT or an alliance over Mikei is doubtful. Again on the other hand the outcome of drilling results are so important that only idiots would make an offer to RRR without these results being known.

The Elephant Oil Corporation ( not to be confused with Elephant Oil and Gas of Texas ) factor concerning an IPO, remembering Red Rock has less than a 5% interest, is difficult to find information on. It has a book value of £137,500. -
The IPO was first put forward for September 2021 but nothing happened.

DRC is in my view a money loser in the short term and maybe medium term as well. Confidence after going quiet on Musonoi after raising many flags over it and bugle sounding makes confidence on Luanshimba rather shallow.

The Australian IPO looking at the options had a hint of interpolated deduction within it. Due to the much needed cash raising an IPO price much lower than £10 million may be needed to get the cash in.
Sometimes it is better to go for the seed capital route. Maybe offering shares at 0.5p to raise the cash needed. Then following with either a second seed capital raise at 0.75p and IPO at 1p. A route however more popular in Australia.

The only part of the Q and A that looked really good for AB was being upfront about not being able to raise cash by a placing or Primary Bid and acceptance further shares would very likely be sold; in Power Metal. Jupiter Mines etc.,

The concern of shareholders however remains. Will the shareholdings be sold to finance Kenya, DRC and Australia so they are gone and still any success gains will be used on future admin including an addition or additions to the board of directors or/ and senior managers.

Not a bad effort this time by AB. In general more excitement ahead with the buts and maybes holding back any overall enthusiasm due to no mention of shares held against loans. Also how much those loans are presently and of course those ongoing reparation costs in Greenland. Also a big drop in dividends from Jupiter and those royalties from El Limon.

[kemche] 22/10/2021 17:36

"he is then flying elsewhere in Africa"

"Admin" going well then I see.

[grimreaper2019] 22/10/2021 17:33

Quite a decent Q&A session.

So it looks like the major shareholders have told Bell to deliver value on
the existing portfolio ASAP.

Also told him he cannot place stock but must sell investments, POW shares are
no longer sticky now Bell has left, if POW gets back above 2p then Bell
will unload for certain.

The Elephant in the room is the valuation purported to be coming for
Elephant Oil on the NASDAQ, RRR are one of the largest shareholders, Bell
seems to think this stake will be worth $1m+, it's possible.

Reference to a key board appointment seems intriguing, a high calibre CEO candidate
being interviewed, finally Bell realises he is not the man to drive value at Red Rock.