Red Rock Resources Share Discussion Threads

[kemche] 28/4/2022 14:55

The JMS parrot is dead. It is no more. 'E's not pinin'! 'E's passed on! This parrot is no more! He has ceased to be! 'E's expired and gone to meet 'is maker! 'E's a stiff! Bereft of life, 'e rests in peace! If you hadn't nailed 'im to the perch 'e'd be pushing up the daisies! 'Is metabolic processes are now 'istory! 'E's off the twig! 'E's kicked the bucket, 'e's shuffled off 'is mortal coil, run down the curtain and joined the bleedin' choir invisible!! THIS IS AN EX-PARROT!!

[kemche] 28/4/2022 14:53

The RNS issued on the 24th March 2022 entitled "Red Rock Resources plc Asset Review and Interims Update" and the very last line hoping no one would read it confirms it.

But I am just too lazy to read it.

[jlondon] 28/4/2022 14:50

5.87million Jupiter shares x 24.5 Aussie cents = A$1.43 Million.

Today, £1=A$1.76

Means A$1.43 Million divided by 1.76 = £812, 500.

That is IF there is still 5.87 Million shares that RRR own given the Proactive Article was dated Sep 2021.
---
MARKET SCREENER-JUPITER MINES
hxxps://www.marketscreener.com/quote/stock/JUPITER-MINES-LIMITED-7501376/company/ 28.4.22

Lowest shareholder owns 21 Million Jupiter shares.
RRR NOT listed given the holding is too small to report.

[kemche] 28/4/2022 14:26

RRR RETAINED 5,870, 693 shares in Jupiter Mines.---
--Currently, Jupiter Mines share price is 24.5 Aussie cents, $479 Million Mkt Cap.--


I am sure that is true as I am beyond reading. Cannot do it to save my life. Utterly incapable. Whilst still being an exemplary researcher. But that's just me.

Sheesh!

[jlondon] 28/4/2022 14:16

MAJOR SHAREHOLDERS OF POW:

[] Thor Mining 3.31%
[]Mohamed Zafar Quraishi 2.92%

[]RED ROCK RESOURCES 2.54% AT 37, 238, 752 shares.

---POW'S share price IS AROUND 1.7P, MKT CAP £25M---

So, RRR no longer holds 45m shares from the Proactive Investor's article of Sep 2021.

-------------IF RRR STILL HOLDS 37.238 MILLION SHARES TODAY-----------
AT 1.7P, MID PRICE = £6.29 Million. [NOT mark-to-market]
52 wk low for POW 1.08p and high 2.45p.

To check, type Red Rock Resources MAJOR SHAREHOLDERS.
One cant get the latest unless one checks the share register of POW which I am NOT privy to. So, kindly check and DYOR as no one knows how many POW shares RRR has today or placed on order to sell etc. Thur, 28 Apr 2022.

[kemche] 28/4/2022 14:16

'So, have to see how many shares still left from the above.'

I suspect they still retain all of them as I don't really read all the RNSes - especially the one issued on the 24th March 2022 entitled "Red Rock Resources plc Asset Review and Interims Update" and the very last line hoping no one would read it.

I have completely missed it. All together. Did not see a word.

[jlondon] 28/4/2022 14:05

Ref: "Red Rock Resources pockets £1.2m from selling down stake in Jupiter Mines."-Proactive Investors, 29 Sep 2021

RRR sold Jupiter Mines for A$2.33 million [Australian listed] at an average of Australian 30.4 cents. At the time of this article, Jupiter Mines shares were at 22.5c.

A/c to this article, --RRR RETAINED 5,870, 693 shares in Jupiter Mines.---
--Currently, Jupiter Mines share price is 24.5 Aussie cents, $479 Million Mkt Cap.--

[2] Article also mentioned POW shares that RRR owns at --45 MILLION POW SHARES.---

Link: hxxps://hotcopper.com.au/asx/jms/ [Jupiter Mines]

===Last financials Annual Report for 31 Dec 2021 issued in Feb 2022==
Interims expected today or tomorrow a/c to a poster here and on LSE RRR.
So, have to see how many shares still left from the above.

JUNO on ASX, share price 14.5cents with market cap $19.78m [dont know how many shares RRR owns at the momo]

[greenpastures2] 28/4/2022 10:49

Errors. On the low side I take it kemche.

[space_dust] 28/4/2022 08:17

Could not find the First Equity broker note on the Red Rock website but eventually found a link on this BB.

They offer a target price of 1.6p, some of the valuations look very modest compared to what Andrew Bell suggested on podcasts, for example they only put a £5m value to the gold project in Australia compared to Andrew Bell saying he hoped for £20m

Again it does look like the company is undervalued but what will be a catalyst to unlock that value.

The 1.6p target was before the legal claim in Congo btw, RRR have already won legals on a $5m claim.

[jlondon] 28/4/2022 00:24

LONDON SOUTH EAST RRR
Just read the forum. Its a pity that PJ may not be able to enter RRR as CEO
given he is busy at POW.

Even if PJ takes a 3% stake, many will may still NOT want to buy in as he is not in charge as CEO to re-structure ie sell, consolidate etc.

MERGER WITH POW
That may be more ideal. Yup, it will really cause tongues talking.

27.4.22 [Wed]
==
RRR is structured like an INVESTMENT VEHICLE.
So, its all the time, valued on the investments/assets that can be flogged.
Issue is here that if any new projects are taken on, it requires more $$$/funds.
Since no single asset is a producing one, then no income model.
Meanwhile, the cost of running an AIM co means either funds has to be raised or something sold.

So, continual running.

Hence, this model is not ideal as there is NO Tier 1 in the portfolio.
Hence, a restructuring is due and a new direction to clean up this investment type model.

[jlondon] 28/4/2022 00:07

m1sterx

Yes, the Kenya JORC of 723,000 ozs of gold is THE highest value asset.
In fact, First Equity attributes only £9.69 Million to RRR for this based on JORC.

As for value-in-the-ground of $25 is something Allenby quoted in a past report on Rock. For $25 to $50, one can take the mean.

Current market cap of RRR at £4.6m vs even £9.69m or £14m lowest quartile @$25 per ounce in the ground appears conservative.
---
2010
No of posts + no of posters discussing the co is currently on the quiet side. No one on Twitter is posting about RRR or more importantly, the stock "influencers" as they call themself or the American term furus.

Not surprised as many are not bean counters and depend on others to do the work for them by way of research.

If there is interest = VOLUME.

POINTS TO NOTE:
KENYA GOLD PROJECT, 723,000 OZ GOLD JORC
[] How does RRR extract value from KENYA?
Invite sale? Open data room?
[] JV like CGNR?
[] Start with tailings?
Needs TANGIBLE layout of plans.
Further upside? Drilling assays etc or updated JORC?


A.B
His analysis on RRR Twitter was good to show the period performance. A.B himself
said that the funding caused the decline post 420% performance [Jupiter period].

BLUE-SKY
Any blue sky projects:
[] DRC copper could be rather good given copper is now needed.
Ah, if they discover a Kamoa-Kakula grade which is east of the capital, then yeah, it would send it skywards. But unfortunately, no one has yet stumbled on another Kamoa-Kakula yet. RRR is in copper in the DRC.

[]Zimbabwe lithium
The licence near Acadia could be interesting.
If only they had 100% of the 2 licences.
If RRR was early in Zim, they may have got the licences 100% easily.

[]KENYA GOLD
Think A.B said they were near Tier 1 and hoping to find MULTI-OUNCE gold rather than 723,000 ounces?

Have to wait till gold is much higher and maybe gold fever may strike then.

[]PAUL JOHNSON FACTOR
Maybe, if Paul Johnson were to become the CEO, then RRR may just be on everyone's lips because one thing they know about PJ is he is essentially a bean counter and is "tight" on money management.

Needs change of sentiment.

In fact, RRR is much further ahead in terms of more tangible asset/s.

[m1sterx] 27/4/2022 21:33

jlondon

One thing that stood out to me reading the Red Rock bulletin boards back in 2010 was the significant interest at that time by activity (volume of posts) and the number of posters who used to discuss the company, at the moment there is no interest in Red Rock because of poor sentiment towards the sector and lack of meaningful news.

It appears the in ground value of gold ranges $25 to $50 for analyst valuation purposes, RRR has a JORC of 723,000 oz in Kenya, 'worth' £14m to £28m at current exchange rates, RRR has a m/cap of only £4.6m now.

The above is an example of how undervalued the company is just based on one project.

The Paul Johnson thesis of buying when the shares are despised and floored worked in the past so is now that time, maybe yes.

[jlondon] 27/4/2022 20:11

From RRR - MIKEI RESOURCE

totals 1.2 Moz gold JORC Indicated & Inferred over 5 areas within the Mikei shear zone.

MACALDER TAILINGS RESOURCE

Link:

[m1sterx] 27/4/2022 18:54

jlondon

The rise in the RRR share price in November 2010 (2p to 17p) came about by 2 news releases, the 1st being the gold mine in Columbia delivering higher production and grades than expected then they announced a bullish update concerning their stake in Jupiter Mines.

I had to troll back so many RNS's to find this info as I was curious to discover the reason for a surge in market cap from £10m to £90m in quick time.

Now looking at today, market cap £5m

There seems to be a chain of events that MIGHT propel a similar rise, these are


IPO of Elephant Oil exceeding expectations = large pot of unexpected liquidity
IPO of New Ballarat Gold, again offering a value kick
A meaningful cash award from the Congo dispute with 3rd parties (inc Glencore)
A JV or deal in Kenya
A JV or deal in the Congo
A JV or deal in Zimbabwe (the lithium scene in country is red hot currently)
A disposal of any project
A uplift in POW shareholding value (recent broker notes say POW worth 4p a share)
The potential of bonanza grades from any of the suite of projects
A turn in market sentiment


In my view we have hit bottom, if PJ is buying back here (speculation) then that is no surprise to me.

£5m m/cap is a binary bet but look at the upside potential from the above news suite, it only takes a couple of RNS positives.

[jlondon] 27/4/2022 18:29

A.B has done an analysis of 16.5 years for RRR in response to what someone posted on Twitter as well as this forum.

"RRR tweet: 4 years to END 2010, riding out GFC collapse in '08 + 420%, 4 years to 2014 -98% and next 6 years +22%."
.
Ah, so that would coincide with the time PJ was in this stock ie 2p to 17p.

Not here so dont know the history but perhaps someone could fell us in as to how it rose 420% and for what reason? Thanks.

[jlondon] 27/4/2022 18:18

GLR - Just listened to a Vox interview [audio] with Colin Bird relating to yesterday's RNS that they are doing the technical work over their newly acquired licences.
Mr Bird sounded excited like someone said about the lithium in Zimbabwe which is near a tin mine and quite easy to identify surface pegmatites.
--
PREM has also just JV'ed out their other spare licences for lithium in Zimbabwe. So, there is interest in Zim given Acadia was sold to the Chinese for $422m [US$].
--
Rather brave of PJ to invest nearly £100k+ into RRR at the time which made his fortune of £900-£1m as RRR rose from 2p to 17p. PJ can speak to A.B if he is invested in that he can gauge A.B better than us as to where he intends for this co.

In so far as I can ascertain, there are assets to exploit?

Wed, 27.4.22.

[kemche] 27/4/2022 17:17

We were all big shareholders here once but have now turned into tiny shareholders.

[jlondon] 27/4/2022 16:24

On the other forum, one poster talked about BIG SHAREHOLDERS not agreeing to 0.8p placing some time ago.
As far as I can see, HSBC Nominees hold some 23% but this may not be accurate ie up to the very minute.

So, who is behind this large holding?
--
Knowing the PJ style, like to CGNR, he wanted to un-lock the potential and with the backing of big holders, they even went to court to try to unseat the sitting founder.

Yes, there are quite a bit of holdings and no doubt if A.B is willing, then PJ could be CEO, like so many co's he re-structured eg GGP etc. However, I am not sure if A.B would agree - sometimes, its good as the style of new management is different. A.B. could still remain as Chairman given he and PJ work well together.

Eg THR - couldnt make progress but with Warland now as CEO, mood, sentiment has changed.

I checked Google Finance all time share price history and was shocked that it was once £3.87 some 11 years ago+?

Does anyone know who the big shareholder is? Taking a guess, maybe.....?

Wed, 27 Apr 2022.

[gb904150] 27/4/2022 15:23

RRR said on 24th March that interim results for the six months ended 31 December 2022 will be released second half of April 2022.

Seems like they've got 2 days left to do that. I'll hang on to see what the cash position looks like.

[jlondon] 27/4/2022 14:04

m1sterx

Thanks for the link to Fairdeal2008's ADVFN history - I went through almost all the 45 pages.

Its all about RRR.

I worked late into the night relating to RRR's assets and it took me quite some time as I had to re-check against individual assets including looking at the annual report etc.

Since PJ made his £900k/£1m, from 2p to 17p =8x.
That would require at least £100k in capital which PJ did not have initially.
So, he would have had made the initial money somewhere else.
I have heard that he is looking at 9x and hence later he sold GGP at 9x and did not
wait for the huge gains later.

I have decided that PJ is patterning POW in the RRR style although far more stringent in $$$ control given he is a Chartered Accountant and worked as a Loss Adjuster.

Will look at other end , thank you.

Interesting.

Wed, 27 Apr 2022.

[jlondon] 27/4/2022 14:04

m1sterx

Thanks for the link to Fairdeal2008's ADVFN history - I went through almost all the 45 pages.

Its all about RRR.

I worked late into the night relating to RRR's assets and it took me quite some time as I had to re-check against individual assets including looking at the annual report etc.

Since PJ made his £900k/£1m, from 2p to 17p =8x.
That would require at least £100k in capital which PJ did not have initially.
So, he would have had made the initial money somewhere else.
I have heard that he is looking at 9x and hence later he sold GGP at 9x and did not
wait for the huge gains later.

I have decided that PJ is patterning POW in the RRR style although far more stringent in $$$ control given he is a Chartered Accountant and worked as a Loss Adjuster.

Will look at other end , thank you.

Interesting.

Wed, 27 Apr 2022.

[m1sterx] 27/4/2022 13:03

jlondon

I would not rule out Johnson taking a position in Red Rock, he could do it via his family offices or personally, he does not have to declare if under 3%

Rather interestingly a new poster has appeared at the other place with a posting style very similar to PJ.

For what it is worth I do feel the constant negativity on various BB's has effected sentiment here, it is also worth noting that the same negativity persists on just about every other sector AIM listed minnow.

PJ purports the time to buy is when sentiment is at total rock bottom which is exactly what he did back in early 2010 at RRR - he bought at 2p and sold 15p+

Without doubt there are a number of upcoming significant value events at RRR for sure.