Red Rock Resources Share Discussion Threads

[1waving] 23/10/2024 14:07

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Has Bell made contingency arrangements, or does he know something about the arbitration cash.
Probably not, but we will have to wait to find out.

[1waving] 23/10/2024 13:45

With the new maximum amount of shares that can be issued being only 1 billion, after today's placing, there is not enough left to raise the £250,000 for the NBGC/RRAL Deal. !!!!!!!

A placing way above today's share price would be needed.
There are just 403,000,000 shares left that could be issued. A placing would need to be over circa 0.0625p to raise £250.000.
Don't forget the costs.

[1waving] 23/10/2024 13:37

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AffeMoose. Read this also.

1waving - 27 Sep 2024 - 11:06:47 - 18861 of 19024
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The Resolution change appears to be in resolution 1.
Initially Resolution 1 stated " To authorise the Directors to allot equity securities up to a maximum aggregate nominal value of £250,000. "

The number has changed from £250,000 to £100,000

What is going on ???

I voted through H-L who put me through to a link where I voted quite easily.

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[1waving] 23/10/2024 13:34

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AffeMoose
You need to read this.
The part in capitals is a copy and paste from my actual Ballot

1waving - 27 Sep 2024 - 10:46:26 - 18860 of 19023
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THERE HAS BEEN A CHANGE TO THE RESOLUTION WORDING FOR VOTING AT THE GENERAL MEETING


01
TO AUTHORISE THE DIRECTORS TO ALLOT EQUITY SECURITIES UP TO A MAXIMUM AGGREGATE NOMINAL AMOUNT OF 100000GBP (A response to this proposal is mandatory)


02
TO DISAPPLY PRE EMPTION RIGHTS UP TO A MAXIMUM AGGREGATE NOMINAL VALUE OF GBP 250000 (A response to this proposal is mandatory)



Comment:
26 SEP 2024: PLEASE NOTE THAT THIS IS A REVISION DUE TO MODIFICATION OF TEXT OF RESOLUTION 2. IF YOU HAVE ALREADY SENT IN YOUR VOTES, PLEASE DO NOT VOTE AGAIN UNLESS YOU DECIDE TO AMEND YOUR ORIGINAL INSTRUCTIONS. THANK YOU

-----'''''

The nominal amount was reduced to £100,000 --- giving the authority to issue just up to a maximum of 1 Billion shares.

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[kemche] 23/10/2024 12:48

In the realms of possibility all is possible. In the realms of probability not all things are.

It reminds me of that company that went up 897,654%.

[kemche] 23/10/2024 12:46

On the 10th June 2021 Topham's 204,147,627 shares equated to a 16.78% shareholding in RRR. He hasn't sold any and is now a proud owner of 3.6% holding.

[noirua] 23/10/2024 12:22

There remains a possibility of a bid for Red Rock of about US$10 million from DRC
or up to 0.2p a share. This would clear the unhappy situation and the bidder would
also have assets to sell off to cover any debts and Director Mr Andrew Bell's salary
for a further 12 months and a dutiful payoff - compensation package.

Rumoured here and there for three years or so. It would be a happy settlement all around.

[kemche] 23/10/2024 11:33

Affe, 1 for 25 consolidation and hold the nominal then kerpow! At least Noirua will no longer need to update the header as everyone will be under 3%. So that frees up his time if nothing else.

[affemoose] 23/10/2024 11:06

597,014,925 new ordinary shares for a measly £200,000

This is Desperate times, very Desperate. The trouble with being on the ropes financially is that you are at the mercy of buyers who set the price.

They have a desperate need for some good news. Expect a flurry of the usual rampy rampy stuff.

The money raised - It's not enough to cover near-term outgoings - nowhere near enough.

They need to pay for Australia or lose the lot - remember that? (Just basic maths tells anyone that - the Aussie money owed alone is £250,000. It's due by 18th Nov (ish) - )

07th October 2024 - 'Update' available on RRR website re: Victoria.
"The payment of £250,000 due under para 5(c) of the Heads of Terms as previously announced ("Terms") has not been made by Red Rock by 18 September 2024 as required, and therefore the provisions of para 6(b)(3) of the Terms apply, by which a 60 day cure period is allowed for the payment to be made, in default of which the vendor may reacquire its sold interest for $1 plus a Note for any cash consideration paid."../
/.."A number of major shareholders have indicated their support for the increase in capital necessary to satisfy its purchase commitments under the Terms (should funds from a settlement or award in the DRC not be received in a timely manner) and subject to this, Red Rock's intention is to place equity sufficient to enable it to fulfil the payment within the cure period."

They need to pay for Sampling results for Termite mounds, They need to get alluvial mining up and running - i read this as building tailings ponds, stripping, stockpiling, wash pads, etc etc etc

Honestly - £200k - will not be enough to cover all of that. Another raise within 2-3 weeks is on the cards atm.

So..... expect more dilution very very soon. But at what price? They have rights to issue £250k at nominal amounts - nominal amount is 0.01 pence per share. That's 2.5 billion shares.

The last rights issue was at 0.0335pence per share. SO..

They have 1,902,985,075 shares left to issue under the authority the GM gave them. Even if they manage to get them off at the same price (0.0335 pence) that only gives them £637,500 left in any share raise.

The next raise could be at a lower price so adjust the number according to your price expectations.

[kemche] 23/10/2024 09:26

Exactly how long will circa £170k last? Is it already spent?

"The Placing proceeds will be applied to year-end accounting costs, acquisition and transport of gold mining equipment, commencement of gold operations in West Africa, Australian and Kenyan operational and professional costs, and other working capital purposes."

At least have a thought for Noirua who has to constantly change the header with the % holdings. It's almost a full time job.

[kemche] 23/10/2024 09:18

Has anything in life been more predictable? It's the same playbook over and over again and yet the fans never tire of it. He needs yet another pivot to get them salivating again. We have had endless "i'ts all about" Kenya, Zimbabwe, Australia, Burkina Faso, Cote D'ivoire, Lemon, ELEP, Greenland, Steelmin, Amulet, Cyprus, Luanshimba, Candy Crush, Shyte Creek, Sunday Creek, Antimony, Gold, Copper, Lithium, Oil, Rare Earths and all the rest.

1 for 25 next and see you all again in February is my guess.

Why all the bad commentary Ettie?

[zen12] 23/10/2024 08:51

PIs have been sick of Bell of many years now, but when it comes to vote he's always re-appointed....so somehow appears to have many supporters to keep him there.

[tomboyb] 23/10/2024 08:18

BELL - END -

Lifestyle BELL -

[1waving] 23/10/2024 08:07

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Massive dilution for RRR shareholders over many years, under Bell's authoritarian leadership. Massive loss of money for shareholders.

Serial misdirection and deception.

Bell must go.

A grifter, totally unfit for office.

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[noirua] 23/10/2024 07:13

23/10/2024 7:00am

RNS Number : 2248J
Red Rock Resources plc

Issue of Shares

Red Rock Resources Plc, the natural resource exploration and development company with interests in gold,
base metals, battery metals, and hydrocarbons principally in Africa and Australia, announces that it has
placed 597,014,925 new ordinary shares ("Placing Shares") by a placing at 0.0335 pence per share
raising a total of £200,000 before expenses ("Placing"). CMC Markets UK Plc, trading as CMC CapX,
acted as the Company's placing agent in respect of the Placing.

The Placing proceeds will be applied to year-end accounting costs, acquisition and transport of gold
mining equipment, commencement of gold operations in West Africa, Australian and Kenyan

operational and professional costs, and other working capital purposes.

Red Rock CEO Andrew Bell comments "We continue to focus on final settlement arrangements in
relation to our claims in the Democratic Republic of Congo, and expect a number of developments,
which may favourably impact our financial prospects.

Meanwhile, there is continuing intensive activity as we prepare to start alluvial gold pre-production
and testwork in Burkina Faso, and our Australian team has to continue its important work as we
discuss with potential partners how to accelerate development there. These strategic activities
present alternative value-generative paths forward, while the outcome in the DRC is yet to be
reached, and upon a successful outcome in the DRC will retain value as diversifications of risk.

This is a high cost time of year with management extremely busy as we focus on accounting
and audit across our asset portfolio. We are grateful for the support by placees which we believe
enables us to reach some key announcement milestones."

[backmarker] 23/10/2024 06:14

The rain in Africa has arrived in the form of more RRR confetti as predicted by some here.In fact issuance of new confetti is a seasonal event which can be relied upon as much as the moon and the stars.

[noirua] 22/10/2024 22:55

The great Lenigas:

[kemche] 22/10/2024 19:14

I have invested in rrr as a matter of principle and not profit.

Sheesh!

[kemche] 22/10/2024 16:20

All the sells were buys.

[kemche] 22/10/2024 16:19

"Very good to hear that a major obstacle has been removed from office."

Has Ettie gone?????

[noirua] 22/10/2024 15:50

The market appears to be guessing a cash raise must be due and has completely lost
faith in CEO Mr Andrew Bell. The position of a saving grace or two lies with the man
himself or another £250,000 from the previous backer.

However, it remains your call, our call, as the market could have this one completely wrong.

We all know, even the three doves in the garden, that Red Rock is a failed company share price-wise.
It remains that the CEO is by now a vastly experienced person in Africa. So all is in his ball court.

[1waving] 22/10/2024 12:28

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Looks like Bell has had meetings over the weekend and is now waiting for more meetings in the next couple of days.
Encouraging to see he is still engaged, with more meetings to come.


Very good to hear that a major obstacle has been removed from office.

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[backmarker] 22/10/2024 12:05

It's a termite eat everything world.

[noirua] 22/10/2024 11:45

CEO Andrew Bell in Kinshasa today:

#RRR
@RRR_RedRock
Chairman Andrew Bell is invited to a meeting by the Maison Civile du Chef de l'Etat in the DRC.

Exciting developments underway.