Red Rock Resources Share Discussion Threads

[kemche] 11/7/2022 08:29

All sold out - none available.

[noirua] 11/7/2022 08:28

It is perfectly understandable why no one believes anything about Red Rock these days. Several people, I spoke to do not seem to have attempted to buy after saying they would.

[broken_arrow1] 11/7/2022 08:24

Cannot buy on most platforms currently, only 'at best'

IG are showing 1m (£5k) at full offer and then move to a premium.

[mininglamp] 11/7/2022 08:20

I would also add that the company has a wealth of other components, the Mount Ida royalty of $9m is drawing closer to fruition as is the floatation of both Elephant Oil and New Ballarat Gold, both could deliver significant value.

A JV on the expansive gold property in Kenya is also a possibility.

I have suggested for a long time that Red Rock is miss priced by the market, the current £6m market cap is a anomaly.

[kemche] 11/7/2022 08:16

The money is as good as banked knowing Bell.

GLA LTHers!

[mininglamp] 11/7/2022 08:16

It is probably fair to suggest that hardly anyone outside of the few who follow Red Rock have any idea of what is going on, the revealing interview towards the close on Friday was almost certainly missed by most.

IF Mr Bell has secured a very significant sum of cash then it will transform the fortunes of Red Rock for a very long time indeed.

[noirua] 11/7/2022 08:09

I've increased my holding to 6.3m shares this morning. There is no doubt I should have bought loads more but this marketplace has brought a cloud over everything in the mining and resource sectors.

[space_dust] 11/7/2022 08:07

This will be over 1p in a flash if RRR has the £10m or so they are owed, even a portion of it would do wonders, it sure looks positive.

Can't buy anything online at the moment.

[greekhovel] 11/7/2022 07:54

With the Exec Chairman only returning to the UK at the weekend, the Nomad, broker not at their desks one would suggest the expected update concerning Congo will come later today.

One wonders how many know of the consequences of the news, Red Rock is poorly followed, maybe some shrewd individuals may take advantage early doors.

[grimreaper2019] 10/7/2022 20:19

Is the market in for a positive, very positive or exceptionally positive surprise tomorrow.

One has to hand it to Bell if he has achieved success in getting his hands on a very significant sum of cash then fair dues, it could not have been much fun sitting around in a hotel room for nearly 5-6 weeks in the Congo.

Having viewed a number of his interviews historically he did seem to be beaming like a Cheshire cat on Friday, much changed from his normal grim faced persona.

For onlookers new to Red Rock he was pursuing $12m in cash, $4.5 won via court action from a former JV partner and $7.5m owed by a subsidiary of a major mining company.

Red Rock is currently valued at only £5m.

[sportboyslima] 08/7/2022 21:16

Monday morning announcement?

[mininglamp] 08/7/2022 16:22

Good news, Mr Bell has achieved what he went to the Congo for, collect up-to $12m, he looks happy and says he cannot say anymore until next week.

[mininglamp] 08/7/2022 14:19

Now a interview with Paul Johnson who seems to be very enthused about New Ballarat Gold all of a sudden where Red Rock have a 51% stake.

A IPO is planned.

The commentary is 8 minutes in.

[mininglamp] 08/7/2022 13:49

There is some bullishness over at the other place, the line of thought being that Mr Bell would not extend his stay in the Congo if progress on collecting the $12m (or part thereof) was not happening.

I would tend to agree, one wonders if Mr Bell is driving a hard bargain on the replacement licence also, only time will tell.

Worth noting that Mr Bell is pursuing cash equal to double the current market value of the entire company.

In current markets cash is king.

[noirua] 08/7/2022 09:29

AB has said Red Rock is worth 10p a share but past progressions mean his view is ignored completely. As long as no one sees RRR getting $100 million for Musonoi we can settle down to a more realistic view of this dilapidated mining/ exploring space at the moment.
If RRR gets close to 1p that would be about right as China cuts back on steel production with the coming recession and war in Ukraine.

[mininglamp] 08/7/2022 08:05

Noticed a post on LSE early doors this morning, looks like the $8m royalty for Mount Ida is drawing closer, this royalty could be sold to a royalty company if Red Rock do not want to wait as project progression gains momentum.

[noirua] 07/7/2022 12:11

Wanting 0.422p to buy RRR at present. If DRC goes to plan some may well be kicking themselves quite soon.

[kemche] 06/7/2022 17:48

"There is no guarantee of success"

Oh pish-posh Ettie! With you in charge????

You kidder you!

[kemche] 06/7/2022 17:46

Initial payment upon transfer of A$20,000

That is probably worth £385 million easily.

So he has purchased about 10 assets for about £56.35.

Whoosh!

[noirua] 06/7/2022 11:27

I am feeling fairly conservative about the Congo outcome and holding back further enthusiasm. The downbeat outcome is likely to be $7.5m (£6.25m) + costs plus a replacement tenement. Leaving Red Rock to pursue the other $4.505m from VUP S A (£3.75 million). The share price should move to 0.8p - 0.9p as my guess.
More than before as matters have successfully advanced.

A further guess is that the outcome will bring more than that as Gecamines obtained $250m from the sale to Kamoto giving them $230 million profit. The cash return including that from VUP S A may be nearer $20 million (£16.66m).

[noirua] 06/7/2022 10:53

Soma increases gold production in Colombia by 73% in second quarter
5 July 2022


In this announcement do not confuse the El Bagre Mine with the El Limon Mine. However, from past information in could be that Red Rock will benefit from production royalties once it goes through the El Limon Mill later.

[mininglamp] 06/7/2022 09:18

It seems Mr Bell has extended his stay in the Congo, in the recent interview he suggests it is for a reason, namely collect the money Red Rock are owed which could amount to as much as $12m.

[noirua] 06/7/2022 09:10

new_scally, you are quite right in what you say and the cash-raising and substantial failures have rocked and destroyed a few financially and there can be no getting away from that.

We are waiting for news from the company's discussion with their lawyers in the offices of Gecamines. There is nothing else in this marketplace and the talks have been going on for weeks. The outcome no doubt will be announced shortly. See posts ~ #12505 @ #12475 - good luck

[new_scally] 06/7/2022 08:43

If they had kept the initial 64m shares in Jupiter they would have returned on average ~ 1 million pounds per year over the last 5 years and would not have needed the 1 for 25 consolidation.

Now they appear to have none of those shares and a pile of rubbish in its place.

sp is less than .4 of a penny from an equiv of over 5 pounds, yet some still see this as a success story. Guess some people are born t lose their capital, plenty of examples on here over the years