Red Rock Resources Share Discussion Threads

[kemche] 28/3/2024 10:23

Widely reported NT to buy on these stellar results at the asylum.

Meanwhile RRR are in "a good place" - as reported by informed financial advisers. We await links to the price of gold soon.

New loans to be reported in the next set of accounts? In not 93 perhaps?

[kemche] 28/3/2024 09:13

Where to begin even?

I suspect that RRR will not be like that other company that went up 876,983%.

Kenyan licence up for renewal (again).

ALR on the back burner until after the Chinese New Year. We are no longer to be judged on our exports. The 5 Chinese buyers get no mention. The team on the ground get no mention. No photos.

DRC - same as it ever was.

ELEP - into the long grass.

" In the case of delay, we would need to accelerate alternative funding measures, whether by fund-raising or a sale of non-core assets, to strengthen our balance sheet and to meet our ongoing working capital requirements." And there it is!

NBGC - "we are currently conducting due diligence to ensure that these assets would support a post-acquisition rapid development strategy, following which we intend to put to shareholders the issue of the initial consideration shares. In parallel, we are engaged in discussions with potential investors in these assets, either at the pre-IPO stage or immediately, in part or in whole." So no then.

BF - "we should not lose time in establishing our own, legal, operations." Ok then.

IC -" exposed the projects at the PDAC mining conference in Toronto, from which we have some new interest expressed." Alrighty then.

And now the nitty gritty - loss for the 6 months £1.5m. "Admin" - as per usual.

Note 11 - always the obscure note. Proceeds from new borrowings - £789k - for which the lenders are thanked.

IF $5m is EVER received from DRC then obviously it will be used to pay back the £2.039m of loans, the creditors built up of £1.7m, the legal costs of DRC leaving £356m for the shareholders.


Bad commentary incoming!

[arlington chetwynd talbott] 28/3/2024 07:54

What is new there?

[captain_kurt] 28/3/2024 07:47

What a shambles. All time lows coming

Company needs to come clean how much funds are left

[kemche] 27/3/2024 20:51

I continue to average down at CRCL. As does Leni and Pharmacal.

[noirua] 27/3/2024 11:23

The NBGC purchase of 49.9% interest from Power Metal.

The Consideration for the Purchase is the payment of £1,500,000 in fixed and
contingent payments subject to the terms and conditions set out in this HoT and as described
in the Payment schedule.

3(b) shareholder approval by shareholders of Red Rock of the issue of the Initial Share
Consideration ("ISC"),

(e) Red Rock confirming by the close of Due Diligence that it has access to funding
required for the settlement of all amounts due on Completion and for the ongoing
financing of NBGC and RRAL; and...

Should all conditions precedent not be satisfied or agreed in writing by the parties
to be waived within 13 weeks of the date of this HoT, the HoT shall be terminated.

Completion shall be effected within five days of the satisfaction of the Conditions
Precedent (or, in the case of condition (b), its waiver by POW) by:

4(a) POW delivering its shares in NBGC to Red Rock with a signed transfer;

4(b) Red Rock delivering the Convertible Loan Notes ("CLNs") to POW;

5(a) Upon Completion, Red Rock will pay POW the CLN consideration, namely
£250,000 to be settled by the issue of 250 Convertible Loan Notes of £1,000
which will be convertible to Shares at the price of any placement of new Shares
to raise proceeds of over £200,000 gross to be carried out in the six months after
their issue ("Placement"), and in the event no Placement occurs to be redeemed
by a cash payment on a date six months after Completion;

(b) Upon the approval by shareholders of Red Rock of the ISC, the payment by
Red Rock to POW of £250,000 to be settled by the issue of 166,666,667 new
Ordinary Shares of Red Rock ("Shares") at a price of 0.15 pence per Share, or
cash (at Red Rock's election) and 166,666,667 warrants each exercisable into
one Share at a price of 0.25p per Share and exercisable during a period expiring
3 years after the date of their issue;

(c) On the date two months after Completion, the payment by Red Rock to POW
of £250,000 in cash;

d) The payment on each of the three following occasions by Red Rock to POW
of £250,000 in cash or, at Red Rock's election, Shares in Red Rock to that
value calculated by reference to the last 10 trading days' VWAP
(volume-weighted average price)...

5(1) £250,000 on the date nine months after Completion;

5(2) £250,000 on the confirmation by an announcement by a regulatory news
service or a declaration by a Qualified or Competent person (as those terms
are defined in the AIM Rules) of a 20,000 oz gold or gold equivalent JORC
Resource...

5(3) £250,000 on the confirmation by an announcement by a regulatory news
service or a declaration by a Qualified or Competent person (as those terms
are defined in the AIM Rules) of a 200,000 oz gold or gold equivalent JORC
Resource

6b(5). (5) Should Red Rock dispose of any of the interests currently held by
NBGC / RRAL within 12 months 15% of disposal proceeds after agreed costs
will be payable to POW, or 5% in months 13-24.

[kemche] 27/3/2024 11:11

All the buys under bid are clearly buys as norm therein wherein in species as norm 36th Novembraury 1836.

[kemche] 27/3/2024 10:35

It's all about POW now.

Classic treeshake to let Ettie in on the cheap -including the 5 Chinese buyers.

[noirua] 27/3/2024 09:50

Both Red Rock and Power Metal are down this morning. The reverse split did it for Power and the delay over DRC kinda signals Red Rock negotiations came to nothing.

Both POW and RRR are on a similar path trying to buy and sell assets. However, Power has Rick Rule's backing and Red Rock doth not. A big difference and POW's CEO rides with great confidence from shareholders and RRR's shareholders are puzzled and frustrated.

[noirua] 26/3/2024 16:45

On any eventual deal in DRC, they still have to work out how much is left over to pay VUP and their bedraggled Legal Team.
Red Rock wants $12.05 million plus costs of around $1 million. That leaves VUP, plus Administration costs and Legal costs at $1.95 million.
There may be room for manoeuvre but all sides are in a quandary.

One way out is for Red Rock to take $10 million and VUP $5 million and both sides pay all of their costs and put aside DRD court decisions. Sounds easy as job done but that's only OK with give and take on both sides.

[noirua] 26/3/2024 12:17

Power Metal has produced the actual results, that is voting results, at their Annual General Meeting:


Red Rock Resources went for a show of hands leaving shareholders in the dark as to what the
actual votes cast were. One remains intrigued, puzzled but not bewildered as we must guess why?
AB release the votes cast at the AGM by shareholders, goddammit man - as the US President
might say!

[kemche] 26/3/2024 12:10

It's all about the gold price now.

[noirua] 26/3/2024 11:56

Meanwhile the gold price is near $2,200 again.

[noirua] 26/3/2024 00:03

2). - COPPER - INTEREST THROUGH SUBSIDIARY RED ROCK RESOURCES CONGO LIMITED.
NOW IN ONGOING ARBITRATION IN KINSHASA, DRC. Red Rock Resources
Congo S.A.U. the registered office is Boulevard Du 30 Juin et Avenue Batetela,
Immeuble Crown Tower, 5 Eme Niveau, Local 504, Gombe, Kinshasa.
Unlawful Sale of JV Assets by Vumilia Pendeza S.A. Page 13 -

VUP Musonoi Mining SA
On 28 February 2019, Vumilia Pendeza S.A. ("VUP") and Bring Minerals S.A.U. ("B.Min"),
and Red Rock Resources Congo S.A.U. ("RRRC"), a wholly owned local subsidiary of the
The company signed a "Joint Venture Agreement" and B.Min and RRRC signed the "Statutes
of VUP Musonoi Mining SA" ("VMM S.A."), the joint venture company (incorporated in the
Democratic Republic of Congo) through which the JV Project was to be pursued.

The Statutes were then taken by the lawyer to procure the signature of the correct officer
of VUP. RRRC owns 50.1% of the Joint Venture and was to own 50.1% of VMM SA.
The Company sent the registration costs of VMM SA twice, but the lawyer failed to register
the company.
The governing document of the joint venture therefore remains an unincorporated joint
venture under the Joint Venture Agreement.

The Company announced on 16 November 2021 that it had served an
Ordonnance de Saisie Conservatoire (precautionary attachment) order on VUP and taken
other measures locally to protect its interest in relation to this joint venture.

On 28 December 2021, it obtained an order from the Tribunal de Commerce de Lubumbashi
against VUP for US$2.5m in respect of US$5m that had been paid to VUP
concerning a sale of the JV Project to which the Company had not been a party (the
Unauthorised Sale). Subsequently, on 28 June 2022 an Arbitration was ordered in respect
of a further US$15m due to be paid by the buyer to VUP pursuant to the Unauthorised Sale.

The Company continues to liaise closely with its advisors in the country regarding the
expectations for a final ruling and settlement of this matter and expects a conclusion to be
arrived at in early 2024. December 20, 2023
-

MUSONOI Area 1, DRC 50.1% - awaiting receipt of up to $12.05m plus a compensated tenement
from Kinshasa, Arbitration that is ongoing.
January 19, 2022 - Judgement for Damages Obtained in DRC

Page 13, -

[kemche] 25/3/2024 13:31

Any golf courses nearby?

[noirua] 25/3/2024 13:01

A pleasant Hotel for AB:
Meeting Room:

[kemche] 25/3/2024 10:29

Could Ettie be planning to move to Kinshasa permanently?

[kemche] 25/3/2024 10:28

PPP - another Leni consultancy success. 100% successful record of delivery. 100%!

[noirua] 24/3/2024 10:17

Himself on gold assets back in January 25 this year:

[kemche] 22/3/2024 14:10

==STOP PRESS==

It's now all about the Lithium.

Again.

[kemche] 22/3/2024 13:54

It's all about the CDI now according to the asylum.

[noirua] 22/3/2024 13:03

Permanent Arbitration Institution - Dispute Resolution Center
Arbitration Rules (DRC Statute)


Article 33.8
. Arbitration Award

[noirua] 22/3/2024 12:53

2021 Arbitration Rules
The below ICC Rules of Arbitration entered into force on 1 January 2021. They define and regulate the management of cases received by the International Court of Arbitration® from 1 January 2021 on. 

[noirua] 22/3/2024 12:21

Arbitration and the Democratic Republic of the Congo
07/05/2023 BY ACERIS LAW LLC

[kemche] 22/3/2024 11:37

Yippee! Therein wherein in species as norm 36th Novembruary 16:36 is back!