Red Rock Resources Share Discussion Threads

[kemche] 25/10/2024 15:13

Ettie has been slogging away for 20 years and they still sell. Thankless task.

[noirua] 25/10/2024 14:57

AB is struggling away in Kinshasa on behalf of shareholders and all they do is
sell. News is due so will they regret it?

Hope Springs Eternal - Alexander Pope.

[kemche] 25/10/2024 14:49

Buys going through under bid now. Typical MMs.

[kemche] 25/10/2024 14:31

Classic treeshake because of the termites and stuff.

[noirua] 25/10/2024 14:01

Never mind the world will keep on turning and Planet Earth should last for billions more years.
The share issue incidence at Red Rock in shares issued terms may exceed the Solar System's longevity.
As will be AB's permanence.

[kemche] 25/10/2024 11:44

I bet he feels embarrassed!

[1waving] 25/10/2024 11:30

banburyboy1
I would have been embarrassed to put out such incomplete information, with no explanations or workings, to arrive at a leap of faith conclusion.

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[kemche] 25/10/2024 11:28

I think the one thing we can all agree on is that RRR are in a good place.

[noirua] 25/10/2024 11:26

Will Red Rock seek an agreement via Power Metal whilst in Kinshasa for Power's DRC asset set out below?
COPPER-COBALT and Copper-Manganese - DRC
15.). POWER METAL holds a 70% interest in the Kisinka Copper-Cobalt Project near
Lubumbashi, DRC.
July 2019 -

[kemche] 25/10/2024 11:26

Whether Banbury is right or wrong, and even if I cannot categorically disprove his findings, I am still inclined to disbelieve him and believe Ettie, Ritalin Boy, Lundy and Nike. But that's just the way I roll.

[banburyboy1] 25/10/2024 10:44

Blimey wavering you pull no punches.
It was a very considered and accurate post.
It was a complete list of all authorities granted through GMs. Were you to spare any time researching you would realise authorities have a five year "life" unless a different period is specified. Even Helpful agreed!!
When Bell issues his next 2bn I look forward to you reflecting and think that Banbury was right and 1wavering was wrong.

[1waving] 25/10/2024 09:11

Banburyboy1

I have seen your post on LSE with a list of a few numbers of Share Authorities granted at AGMs since 2016, but that is all it is, a list of share authorities.

At the end you put up numbers with no explanation and take a leap of faith to take a wild guess at share authorities now. No workings or explanation, just a leap of faith. No reference to regulatory rules and regulations for how equity and derivative equity instruments are accounted for in relation to Share Authorities.

An incomplete, incoherent and ill thought out post.

I have said in previous posts that your numbers on current Share Authorities are very likely not credible, that now goes to ZERO credibility.

If you want to get accurate numbers of current share authorities, ask Red Rock or Beaumont Cornish. Qualified and authorised advisers are there for good reasons.

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[kemche] 24/10/2024 14:15

Looks like imminence could begin in earnest.

[noirua] 24/10/2024 13:37

Musonoi Area 1 PE4962 ended up in the hands of Kamoto Copper owned by Glencore 75% and Gécamines 25%.
VUP's (Vumilia Pendeza S.A. ("VUP") and Bring Minerals S.A.U. ("B.Min" ), legal claim was against Kamoto.
Kamoto holds $15 million that will be paid in accordance with an Arbitration outcome according to Red Rock.


From earlier information, VUP had an original agreement (purported Amicable Termination Transaction Protocol),
before Red Rock had a 50.1% holding, to sell back to Gécamines.

Musonoi Area 1.
Pages 10 to 17:
April 11, 2019.

[banburyboy1] 24/10/2024 12:55

I will put the workings again on LSE.
I went through every authority since 2015 consolidation. Even Helpful said it was right.
Why did he need the extra authority ? Easy 700m shares only buys you 200k of cash. Shrinkflation.

[1waving] 24/10/2024 12:54

Been looking at a few posts on LSE this morning.
Found this one of interest

Helpful

Posts: 14,088
Price: 0.0375
Overview Today 11:39

So, I hadn't seen the Twitter posts late last night, footie is more important. Now I have...

1. AB obviously anticipated that the Arbitration was going to be done late last week/over the weekend.

2. The intervention of the dodgy solicitor delayed things but changed nothing.

3. The "blaming it on Australians", was 1620 Capital: John Boardman and Jason Brewer.

4. The invitation was to the Private Office of the Head of State. So it seems we are involved with a pet project of the President.

5. In one of his broadcasts, he mentions being a British company, not Chinese, Australian or Canadian. He was quite obviously suggesting that RRR has got itself in a niche where it is trusted in DRC.

6. Why would the Private Office want to deal with RRR or similar and why would it want to do a deal about revenue from the deal being allocated to a pet project?

7. The main thing is corruption. If RRR were to do a deal via the normal mechanisms, a parastatal like Gecamines would take a stake and royalties would be paid. The revenues would disappear into the general maw of expenditure and might make it nowhere near said "pet project".

8. He said an asset(s) similar in size and quality to Musonoi.

9. When we got Musonoi he said, 400,000 tonnes of copper and 24,000 tonnes of cobalt. Glencore paid $420mil for it via a backdoor deal. Musonoi grade was around 3%.

10. If the Private Office has a pet project then you would expect it to be substantial and so the amounts diverted to it would be substantial. Consequently, the Private Office needs a counter party that can deliver and is untainted by corruption and poor practice.

11. He says "immediate revenue": well that can only be either tailings or material previously mined and sat at surface. Immediate probably indicates the latter. Therefore the asset(s) are already known.

12. From the broadcast, it seems that they are close to Lubumbashi.

13. I expect we will get an update on BF and CDI shortly.

14. And no trolls, I didn't take the placing.

DYOR

-----------------------
and another post to follow.

Helpful

Posts: 14,088
Price: 0.0375
RE: Overview
Today 12:56

Kam, all very interesting but irrelevant to what is at hand and the overview I posted.

1. There is no doubt that Musonoi and the two other licences were JV property.

2. There is no doubt that the JV property was sold via Gecamines to Glencore.

3. How do we know this?

4. VUP issued proceedings against Gecamines and Glencore jointly for the non-payment of $15m ($5m having already being paid).

5. RRR intervened in the case and established to the satisfaction of the Commercial Court in Lubumbashi that the assets were JV assets and sold without RRR's knowledge or agreement.

6. The Court awarded RRR damages and costs against VUP.

All of the above is fact. No Walter Mitty stuff or made up stuff. Following on from that,RRR is due 50.1% of the $20mil and in reality should have had 50.1% of the $420mil.

What is at hand is the conclusion of what happens to the $15mil. Only three possible outcomes: All the money goes to VUP, all the money goes to RRR or the money is split between the two parties.

DYOR
---------------

Helps to outline the current situation and the major potential.

By major potential, I mean something massive !
Subject to arbitration cash arriving and the nature of the new DRC project.


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[noirua] 24/10/2024 12:45

AB will likely come away with something from the meetings in Kinshasa, so maybe adding a few
RRR shares to average down is a fair bet at this point.

[1waving] 24/10/2024 09:25

The following are the only contingently issuable shares that could be issued but they are OUT OF THE MONEY by a long way so are very unlikely to be exercised.

Page 10, of the last financial report, half yearly. Announced March 2024


Share options granted to employees – not vested and/or out of the money 21,000,000

Number of warrants given to shareholders as a part of placing
equity instruments – out of the money. 314,178,213

Total number of contingently issuable shares that could
potentially dilute basic earnings per share in future 335,178,213

Total number of contingently issuable shares that could potentially dilute
basic earnings per share in future and anti-dilutive potential ordinary
shares that were not included into the fully diluted EPS calculation 335,178,213
------------------

Very unlikely to come into play as they are way out of the money.

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[1waving] 23/10/2024 20:41

Banburyboy1

I can understand that RRR has 400 million share authorities now, but where did the additional 2.4 Billion come from. Bell said they were very close to being unable to raise anything further at all until they got the new authority that has now been passed for just 1 billion share authority of which 597 million were used in today's placing.
It is not credible that there was a 2.4 billion authority left over

Are you saying that RRR had 2.4 Billion share authority prior to the recent addition. If so, please explain where and how you got the 2.4 Billion from.
I have seen nothing about the additional 2.4 billion authority you mention and find it not credible from what Bell has said. That was basically they have run out of any share authority and needed the new authority which has now been passed.
If they had 2.4 Billion share authority already, they would not have needed the new authority.

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[banburyboy1] 23/10/2024 17:36

1wavering.
I have posted on the other board. RRR has 2.4bn of share authorities still available before the GM.
So now has either 3.4bn [ before today's issue ] or 4.9bn dependent on the final resolution.
Enough to issue to pay RRAL.
Brilliance from our leader as you would expect.
Regards Banbury

[noirua] 23/10/2024 17:06

My only big success since 2017 was ASX: WC8 Wildcat Resources.

[kemche] 23/10/2024 17:01

I'm sure you will triumph again Noirua. You did at UKOG and VRS so this one should be a doddle.

[noirua] 23/10/2024 16:35

I've traded out of this quite well twice before. This time is proving more than just a bit tricky.
Last time RRR fell to a lowly 0.19p leaving me £32k adrift. Fortunately, RRR rocketed to 1.2p - 1.3p.
I sold some much too early though the last 10% went at 1.22p.

Now down about £30k at the bid price of 0.035p at a guess. That helped by some profits here and there -
following Mr Black. The average price paid is now around 0.115p.

[kemche] 23/10/2024 16:23

Wibble managed to trade out of this profitably again - jammy git! What a record!