Red Rock Resources Share Discussion Threads

[mrmark1] 27/1/2023 19:19

Today I believe from the prices at the time:2.1m is a buy at 0.282 (could buy at that price and maybe filling the 2.5m sell qty).2.5m is a sell and maybe the finance company at 0.273m is a buy3m is a buyWill be interesting to see the volumes and buys/sells next week. Guess 0.27 is the low for now until the 2nd 500k is given to RRR. So maybe an opportunity to buy stock at 0.28-0.3 prior to DRC funds and project newsflow?!

[mrmark1] 27/1/2023 19:14

Slightly confused by the below and important part as the additional hasn't as yet been given to RRR - guess also the company can cancel the future Capital if or when they get the DRC funds...original 1st tranche of $500,000 was at 0.7p per share so the average price with the 2nd tranche at 0.184p and including the 17m shares is equal to 0.266p approxThe company has been given 500k at an ace of 0.266p approx? Plus broker fee's for selling I would guess (0.5/1%)

[noirua] 27/1/2023 18:27

Investors/ punters will be aware of the cash raising RNS on 15 December last.


This part from the RNS is now in force and the market appears to have accepted the inevitable that $500,000 will be lent to Red Rock at 0.184p per share.
The Subscription Price of the Subscription Shares will initially be equal to GBP0.007 per Share, representing a premium of approximately 79% to the closing price of the Company's Shares of GBP0.0039 on 13(th) December 2022.

The Company will issue to the Subscriber 17,000,000 Shares (the "Fee Shares") (being the equivalent of GBP66,300 at the latest closing price on AIM - [0.39p]) in satisfaction of a fee.

The original 1st tranche of $500,000 was at 0.7p per share so the average price with the 2nd tranche at 0.184p and including the 17m shares is equal to 0.266p approx.

Should the 2nd tranche of $500,000 be paid to Red Rock the average price paid per Red Rock share would be 0.232p approx.

2nd tranche $500,000 at 0.184p per share if the price remains below 0.3p for 5 days see RNS.

3rd tranche $500,000 at 0.184p per share - ditto -.

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The above figures take into account the exchange rate at the time. It will change so average prices will with it.

[mrmark1] 27/1/2023 18:25

Cash raising is the final hurdle. Guess not yet successful or they would be listed or announce listing....I've heard it's very close though. Let's hope it's in the next week or two. Christmas and NY delay was understandable but should be an excuse now.

[mrmark1] 27/1/2023 18:23

That below was Andrew's comment in the telegram group confirming he is in the DRC now

[noirua] 27/1/2023 18:11

mrmark1 - I will search my posts as I did work it out before - back soon, hopefully.

We think AB is in the DRC though the company has not said so. He did say he was arranging a Visa but no confirmation of that.

Elephant Oil: The company keeps rolling over its potential IPO from month to month. They have not said officially whether cash raising was successful or not.

[noirua] 27/1/2023 18:10

How DRC Carries out the Successful Resolution of Local and International Commercial Disputes

[mrmark1] 27/1/2023 18:09

Can you explain how the ave is 0.263? So opportunity to buy stock at 0.27/29 level before news-flow. Notice 2x 3m buys at the end of the day. Gold assays due on the first hole - you would imagine they will be good results if they wish to IPO the Australian assets.Lithium production mid Feb - revenue Elephant Oil listing must/should be very close Andrew Bell is in the DRC for the third time. Is this the moment? Serious spike if he gets the $7.5-10m. In a bad market that is serious firepower?!

[mrmark1] 27/1/2023 18:02

Nav - I am in Kinshasa. This is not a holiday! .....Andrew Bell

[noirua] 27/1/2023 17:54

DRC Projects Update

16 November 2021



Red Rock is seeking advice in the Congo and in London on the various remedies available to it and has obtained an Order against VUP which protectively seizes 50.1% of the $5,000,000 understood to have been paid so far.

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Providing the above information is still correct then $2.5 million should have been seized. However, if VUP sent the money to South Africa I'm not sure how it can be seized when it has left DRC. On the other hand, maybe this means Red Rock has more potential to get that sum as well as the $7.5m owing from Glencore's subsidiary Kamoto Copper. So far I haven't been able to find anything on the net about this in DRC despite using multiple search engines. ORCP has been unable to help.

[noirua] 27/1/2023 16:45

This looks to have timed out in December 2022 but no mention by Red Rock.


As posted by APJKM on HC- 20 December 2020 -

Red Rock Resources PLC Right to Acquire Loans Funding of an Arbitration 21 December 2020 Red Rock Resources Plc, the natural resource development company with interests in gold, copper, cobalt, manganese, and other minerals, has entered into:1) A deed agreement with the Administrators of an Australian company (Vector Resources Limited (Administrators Appointed)) ("VEC") under which Red Rock will support (a) the institution of arbitration proceedings by VEC in respect of a contested notice of default served by their partner in the Democratic Republic of Congo ("DRC") and (b) the application for a continuance of injunctive relief by VEC (the "Funding Deed"), and 2) A deed agreement with the creditors holding security over VEC's principal asset, a majority holding in Mongbwalu Goldfields Investment Holding 6 Limited ("MGIH") (the "Deed of Agreement").

MGIH is the joint venture holding company in the BVI for a majority holding in the Adidi-Kanga gold project in the DRC. The effect of the Funding Deed is to create conditions (as to repayment and uplift, exchange of information, and access to attorneys) in which the Company was able to fund the institution on 18 December 2020 of arbitration proceedings at the International Chamber of Commerce in Paris to support the continuation of an injunction in the BVI which prevents the transfer of shares in MGIH away from VEC.

The obligation on Red Rock is US$90,000. The effect of the Deed of Agreement is to give Red Rock the right for two years to acquire the loans of the secured creditors of VEC, MEF I, L.P., and Riverfort Global Opportunities PCC Ltd ("Creditors"), for a consideration equal to their netbook cost at the time of such acquisition ("Loans"), with half the consideration to be paid in Red Rock shares at the then current price and to assist Red Rock at its request (acting reasonably) in enforcing or obtaining rights over the secured assets.

The quantum of the Loans is approximately US$5.2m, which may be reduced by any successful claims by the secured lenders. The purpose of the Deeds taken together is the commencement of arbitration proceedings in Paris, the continuation of the existing injunction in the BVI,, and the creation of an ability for Red Rock to engage counter-parties in discussions regarding a mediated outcome, with the support of creditors. Further details of VEC including announcements, may be found on the website of the Australian Stock Exchange, and on that company's website: hxxp://www.vectorres.com.auRed Rock Chairman Andrew Bell comments: "Our familiarity with VEC, as well as its assets in the DRC, its principal lenders, its local partner, and its local agent, mean that we are well positioned to play a constructive role and look forward to seeing the situation develop.Should arbitration and litigation have to continue, we have experience and have shown resolve in pursuing disputes in sub-Saharan Africa to a necessary conclusion and are, we believe, good partners." Background Information on VEC and MGIHVEC is a company listed on the Australian Stock exchange ("ASX").

On 21 December 2017 VEC announced heads of agreement for the acqusition of a 60% stake in the Adidi-Kanga Gold Project in the Democratic Republic of Congo. Since 31 December 2018 the VEC stock has, except for two brief periods, been suspended from trading on the ASX as a result of issues connected with this acquisition. On 21 September 2020 the Congolese partner of VEC served a notification of breach of conditions on VEC. VEC disputes this notice.

On 5 October 2020 that partner's two representatives on the VEC board resigned.On 23 November 2020 VEC obtained in the BVI the extension of an injunction preventing the escrow agent from transferring to the Congolese partner the shares held by VEC in MGIH, which constitute a majority interest in the Adidi-Kanga project, pending further order of the court.

On 10 December 2020 VEC went into voluntary administration. MGIH is a company incorporated in the BVI that serves as the joint venture company of VEC and its Congolese partner. MGIH controls a local subsidiary in the DRC, Adidi-Kanga Resources SA, which owns the Adidi-Kanga project. On 5 February 2018 VEC announced to the ASX an Inferred and Indicated gold Mineral Resource (under the JORC 2012 mineral code) at Adidi-Kanga of 15 million tons at 6.66 g/t, amounting to 3.2 m oz.

#RRR #RNS #Gold ADIDA GOLD PROJECT - RIGHT TO ACQUIRE LOANS@RRR_RedRock has entered into a Deed of Agreement is to give Red Rock the right for two years to acquire the loans of the secured creditors of the Adida Kanga Gold Project in the D-----

[captain_kurt] 27/1/2023 16:33

AB is in Kinshasa

[kemche] 27/1/2023 15:50

I continue to average down

GLA LTHers!

[noirua] 27/1/2023 15:34

A further slip in the share price as investors seem to be looking more at the likely purchase of shares by Diversified at 0.2p minus 9%. This would lead to an average price paid by them of 0.263p when the earlier issuance is taken into account.

Offsetting the above would be an award of cash in DRC over Musoni Area 1 to Red Rock. Confidence seems to be lower now as is the IPO of NASDAQ: ELEP.

RRR remains a punt so it's up to you!

[noirua] 27/1/2023 10:10

Website: ( Some of the information on this website has not been updated )
Warning: Red Rock's website has still not been updated to current interests. Noting in particular it still shows the company having a 1% interest in Jupiter Mines when it in fact has a zero interest.

[noirua] 25/1/2023 09:17

Iron ore, copper and lithium – what’s next and the investment opportunities
We take a closer look at the commodities needed for a net-zero world and where the investment opportunities could be.
19 January 2023

[kemche] 24/1/2023 15:50

That's cheap. Expecting a very strong after market. Then whoosh!

[noirua] 24/1/2023 15:45

Estimated Market Cap Elephant Oil: $65.36mil = £53.5 million - you are slightly light old chap.

[kemche] 24/1/2023 11:56

That should ensure a strong market for NBGC.

Does anyone remember how much we paid for the acreage?

Should easily IPO at about £50m market cap.

[noirua] 24/1/2023 11:47

ASX or AIM: NBGC - Australian Gold Price Charts:
3-day chart:
Long Term chart: Live gold price back to 2015 in AUD:

The gold price in Aussie dollars is now close to an all-time high point. This should point to an IPO of NBGC very shortly.

[kemche] 24/1/2023 11:44

Zimbabwe operations soon then whoosh!

[kemche] 24/1/2023 11:40

The only reason for the delay in ELEP IPO must surely be oversubscription which will guarantee a healthy aftermarket for the shares.

In the meantime the DRC imminency continues. For once and for all.

[noirua] 24/1/2023 11:35

Nasdaq: ELEP - Oil prices are off the floor according to this price chart but remain a long way from the high that did not hold for long:

The Lock-Up period is a NASDAQ rule between 90 days and 180 days.

Nasdaq IPO process and video explanation: