Red Rock Resources Share Discussion Threads

[kemche] 13/4/2022 13:26

How many shares do we still hold in JMS?

[noirua] 13/4/2022 12:47

Jupiter Mines Quarterly Report - 31 March 2022

Cash at bank AUD million 71.4

[noirua] 13/4/2022 09:47

RNS Number : 8801Y

Red Rock Resources plc

19 January 2022

Red Rock Resources PLC

("Red Rock" or the "Company")

Judgment for Damages Obtained in DRC

19 January 2022

Red Rock Resources Plc, the natural resource development company focussed on gold, but with developing interests in copper, cobalt, and other minerals, announces an update on the Red Rock VUP Project (the "Joint Venture"), further to its announcement of 6(th) January 2022.

On 14(th) January 2022 the Commercial Court of Lubumbashi issued an executory judgment ordering VUP SA, the Company's partner in the Joint Venture, to pay $2,000,000 as damages, with costs.

This follows the earlier judgment for payment of a principal amount of $2,505,000, representing 50.1% of the payment already made by a third party to VUP SA.

Red Rock Chairman Andrew Bell comments : "These awards in our favour of $4,505,000 plus costs are steps in a process, and do not put this money into our account, nor do they represent the totality of our potential claims.

We now begin to move to the enforcement and extra-judicial phases of proceedings.

The Company expects to announce drilling results from another project in the DRC, Luanshimba, within the next days."

Any material developments will be reported as they occur.

[noirua] 13/4/2022 09:39

Until the Half Year results appear to 31 December 2021 and hopefully a further update to at least the end of March 2022: It will not be possible to work out where Red Rock is at present both on the cash front, shares still held, and the debt position.

The Musonoi outcome with regards to claims against VUP SA looks quite crucial. The $4,505,000 £3,465,000 plus costs and further claims look badly needed. Obtaining this money would obviate any need for cash-raising.

Any cash from IPOs looks uncertain and doubtful from gold and iron ore royalties.

Kenya drilling results have not improved the likely, to be updated, JORC Resource. The total Mineral Resource, for both Inferred and Indicated categories at a 0.5 g/t Au cut-off, is estimated at: 15.13 Mt @ 1.49 g/t Au with a contained metal content of 723 Koz Au. Macalder Tailings measured - • 68koz Au @ 1.7g/t.

The shares remain a difficult long-winded gamble. Having said that the share price at 0.41p isn't asking for much.

[kemche] 12/4/2022 15:41

Exceptional results from Victoria - as is the hallmark of Bell.

[kemche] 12/4/2022 14:34

Algernon - I beg you in the name of all that is holy - will you please stop embarrassing me?

[noirua] 12/4/2022 14:34

Unfortunately, the gold results in Victoria are poor. I'll leave it at that as it is their first drilling.

[on target] 12/4/2022 14:32

One good grade interval but with a tiny width, the others with both tiny grades and tiny widths.
Just the usual dross unfortunately.

[36jay] 12/4/2022 14:20

Massive news.wow. hxxps://www.share-talk.co.uk/announcements/rns/red-rock-resources/update-on-gold-exploration-in-victoria/202204121400081540I

[noirua] 11/4/2022 11:29

An Epitaph - posted to punch home past negatives against positives in NBGC and Musonoi and perhaps EOC.

Torp - 20 Jul 2021 - 14:44:14 - 11155 of 12089 RED ROCK RESOURCES PLC - Information Thread - RRR
I see the same old shysters are still trying to pump this utter POS unscrupulously,
desperate to lure in the gullible to boost their positions. It has been and will
always be imho a total sucker share.

It simply moves from placing to placing to placing whilst Bell fritters away untold
£millions on Admin and expenses. Hence there will rarely be shareholder
value delivered imho.

Yearly Amounts Spent On Admin

2012 - £2,275,786
2013 - £4,751,948
2014 - £1,563,808
2015 - £1,334,404
2016 - £758,351
2017 - £644,688
2018 - £849,518
2019 - £591,777
2020 - £597,000

That's where much of the money disappears to. All it needs is gullible people
to keep buying the "jam tomorrow" stories. I'm so glad I am no longer one of
those gullible saps.

As well as placings the company just goes from one failed project to the next:

Greenland Project - spent millions and eventually sold it off for just £1

Shoats Creek Oil - Project failed and was written off

Steelmin Project - Went bust just after Bell loaned them another £1.1m
etc etc etc

Worse still the company began to engage in various loans and transactions which they failed to RNS to shareholders/markets.

RRR conducted loans and transactions with Amulet Diamonds that were not RNS'd.
Shareholders discovered 5 months later in a small paragraph in the Annual Report

Bell loaned a further £1.1m to the failing Steelmin project which he didn't RNS.
Simply appalling.

Steelmin ceased operations in Sept 2018, RRR did not RNS this

Steelmin went into Administration Feb 2019. RRR didn't RNS this event despite
RRR having a 22% stake in the business.

Frankly anyone who puts their cash into such a POS thoroughly deserves to lose
their money. If loans and key events are not going to be RNS'd then I'd consider
that I was investing blind. There are surely better AIM companies to go at without
such ridiculous problems.
DYOR

[noirua] 11/4/2022 09:37

Even Ken Dodd would recognise the longevity of your humour kemche. I've searched for Torp but fear he has been lost.
Anyway, the last financial report was for the year ending 30 June 2021 and we, investors, have no real clue as to the cash in the bank and what shares held have been sold. We also do not know the position of today's loan book.
The Lithium tenement, many companies are buying them, is very early stage and probably green field.
What is really awaited is the IPO of NBGC and cash from Musonoi sold under RRRs feet.
The Elephant Oil float is dragging on a bit and though favorable is no certainty timewise.

[kemche] 11/4/2022 08:18

"Mr Bell has talked about a possible JV with a US company."

That's very important because that is the first time he has spoken of such a thing in his entire tenure at RRR.

Whoosh!

GLA LTHers!

[mininglamp] 11/4/2022 07:56

Many believe there will be a uplift in the well battered down junior mining/exploration space shortly, mid caps and majors are starting to take project or equity stakes in the minnows at last.

I have to say I am surprised RRR has fallen so far for no obvious reason, the shares hit 1.30p last February but have fallen with the sector.

One could argue that Red Rock are in a better place now than at that time with IPO's ongoing and now the potential for material compensation from events in the Congo.

The current market valuation is £5m, the Lithium project (and location) is very interesting especially as Mr Bell has talked about a possible JV with a US company.

[silverspoon2009] 10/4/2022 19:18

Even duds like NCCL have their day, up 300% recently, from .45p to 1.7p, Red Rock have as much chance as the next AIM minnow @ £5m m/cap.

£5m m/cap to £15m is easier and more likely in fast time than £50m to £150m would be.

[jlondon] 10/4/2022 18:34

All good folks given we have had a fair appraisal.

I personally like Andrew Bell as he is very forthcoming about information of the project /country. I dont have to go to Zimbabwe to find out anything. From Prospect's CEO he said that success came from the govt being pro-mining etc.

From Mr Bell, we know that the Chinese are "dominant" etc in Zimbabwe for lithium especially in the last 4 months given the Acadia sale at $422m [Prospect of Australia]. That is very helpful given we know they have a big presence there.
We also know that licences are still done by hand processing. One of the biggest positives is that Bell can obtain licences but the only downside is he is not a geologist although he can hire external geo's. For that reason, it would appear that Paul Johnson teams up with A.Bell due to this factor. I think A.Bell has been in Africa for some time now and knows the place/s and maybe can speak the lingo. So Bell can give on the ground news.


Reading Zimbabwe news, it was said that the Chinese are going into lithium etc.
So, there's a 2nd check from the Zimbabwean perspective.

I looked into the Zimbabwe lithium licences near BIKITA mine and ACADIA that Bell is currently pursuing and await assay results. Often, the area grades are always helpful even though one still needs to see the project's assays.

We ALL agree the lithium entry is "exceptionally well timed" per grimreaper2019 but I think Bell has had his eyes on the ground given Zimbabwe as he said is Africa's largest producer of lithium.


VINCENT MASCOLO
He passed away recently and did not live to see that Atlantic Lithium is currently under a bid situation. The shares have done well given the market cap or rather a hefty mkt cap. At this juncture, Mascolo's Tempest Minerals "soars on spectacular
copper discovery at Meleya Project." Shares have risen on the ASX. Mascolo worked for Rio so he is more a technical player. If he had shares of substantial %, his family would be well provided for. Amazing how just one day and both of Mascolo's stocks have come in.

I have seen that Bell has quite a bit of shares in RRR and I can only hope he will
unlock this opportunity in Zimbabwe lithium. It is a big land package so it needs quite a bit of work to see where the pegmatites are if any and whether it will be at least in the 20Mt region like PREM/initial JORC for Atlantic. Bell has indicated he is looking for partners.

Yes, like grimreaper2019, the MKT CAP OF RRR AT £5M is akin to a shell [£1-5m].
It has reached one of the lowest price points but with lithium interest at the momo. NO ONE KNOWS, either on Twitter or the London South East of this lithium story developing in Zimbabwe.

J.London Sun, 10 Apr 2022.
It has been such a pleasure to have posted on this forum with everyone contributing well aware that the risk vs reward has to be told as much as we know from our
general experience.

Let us hope for the best given that there needs to be substantial pegmatites and of reasonable grade as others found in order to be a player that will be of interest ie at least 20Mt li20 at PREM or now 30Mt at Atlantic after the JORC upgrade from 20Mt.

[grimreaper2019] 10/4/2022 17:48

Everyone knows that Red Rock has been undervalued by many multiples to peers for years on end, the Bell 'discount'

Mr Grim attended a event recently where Alien Metals (UFO) were presenting - they have licences in Australia and some legacy project in Mexico, no revenue, no imminent production, directors hold next to no shares, regularly dilute equity via placements etc - current market cap £39m ! Red Rock £5m ?

The 'problem' is Bell, whilst the man has assembled these projects he has no idea how to promote or more importantly deliver value from them, no JV, no project sales, no IPO's (despite promises) the company currently has won significant damages in the Congo ($5m+) but the market does not believe RRR will see a single dime of cash, the IPO of Elephant Oil could deliver a meaningful value but when ?(Bell has talked $2m) etc etc.

However, it seems the market cycle is turning, consolation for RRR equity holders is that even 'popular' juniors have fallen 50% (or more) over the last 12 months so Red Rock could be deemed a recovery play from a very low base.

But IF Bell can finally deliver something one could see a multi bag event but BUT is the caveat.

The lithium entry seems exceptionally well timed however.

[kemche] 10/4/2022 15:54

Superb research as per usual jlondon. My gratitude.

[jlondon] 10/4/2022 15:17

London South East RRR
I have just been and seen 4 posts of some long time posters. I think they summed it up quite well. One of them contacted Andrew Bell and it was good of him to speak to him.

RRR Annual Report 2021
Just had a quick look and as I said it runs like a portfolio and therefore they have marketable investments [like KDNC] and a bit of cash. Havent checked yet the interim statement. So, look or ask others.

SHAREHOLDERS
All Joe Bloggs.

VOLUME
On Fri, there were in total 1.4 Million shares sold for £5,000 mark and buys of 394,295 for £1,632.

So, rather illiquid as said.

PROJECTS
On Twitter, Red Rock Resources, the tweets are very helpful in that each puts out the details from the RRR RNS. So, CLICK on the screen shot to read.

LITHIUM
I am only here for the lithium [Zimbabwe] story and even then a very tiny amount to hedge a new early entry given the mkt cap.

ELON MUSK
Now the latest is that folks think he will build a lithium chemical refinery in Texas USA and buy in SC6 [spodumene 6%] to process from several sources. Zimbabwe produces spodumene rather than the lithium chemical carbonate or hydroxide.

WARNING
So, ample warning given as above and from others as they have waited a no of years ie 22. As with all small junior explorers, they have to find cash or sell their investments like KDNC ie selling BCN 20% shares and EMH 19% shares to Nil and some 9% respectively. Posted both sides of the equation for balance. I am aware of the risk.

J.London, 10 Apr 2022.[Sun]

[kemche] 10/4/2022 14:52

Excellent research jlondon. Thanks for sharing.

It all looks rather good.

Imagine if Bell could spin out. Something he has been rather hesitant to do.

[jlondon] 10/4/2022 14:39

Andrew Bell, CEO has posted on Red Rock Resources on Twitter.
I just had a look today given I had more time.
Very useful in that each tweet has details of different PROJECTS from the RNS's.
C L I C K on the screenshot to read the details of the LITHIUM PROJECT.
Its very clearly set out.

CASH POSITION:
That can be found on the co website under interims or annual report [see cash at bank].

VOLUME:
Go to London South East RRR and see what the volume was on Fri. I looked but did not check after closing. This will show that the market can ABSORB x sales or x buys.

LITHIUM [Zimbabwe] & VICTORIA, Australia gold JV project news is next that is of immediate interest. The other projects could produce an update as and when.

INVESTMENT STYLE
Like a few co's that have different projects eg POW which is akin to portfolio management which is capital lighter & not single country risk.

SOMEWHAT AKIN TO POW STYLE
Looking to spin out, JV, partly sell etc [wide gambit] whilst trying to find the NEXT BIG DISCOVERY.

[kemche] 10/4/2022 12:00

As algernon has pointed out, much to my embarrassment, the whoosh has been delayed until tomorrow.

[algernon2] 10/4/2022 00:24

I will look forward to the "Sunday Whoosh" then. It will make a change from a "Sunday Roast". Cheers!

[kemche] 09/4/2022 20:33

Algernon stop the mischief. If you miss the whoosh tomorrow then don't blame me!

[algernon2] 09/4/2022 20:10

Kemche, stop your cruel teasing of the new boy on the block. I'm raising a beer tonight to Andrew Bell, RRR and Lithium.