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VIDEO EXCLUSIVE: TSX-listed Transglobe Energy Corporation considers London listing Watch here

VIDEO EXCLUSIVE: TSX-listed Transglobe Energy Corporation considers London listing


Red Rock Resources Share Chat (RRR)



Share Price: 0.70Bid: 0.65Ask: 0.75Change: 0.00 (0.00%)No Movement on Red Rock
Spread: 0.10Spread as %: 15.38%Open: 0.70High: 0.70Low: 0.675Yesterday’s Close: 0.70


Share Discussion for Red Rock Resources


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MrMagic
Posts: 10,625
Observation
Opinion:No Opinion
Price:0.75
RE: Steelmin RNS 23/06
23 Aug '17
"hot asset"?

How "hot" can Steelmin actually be if it were reduced to borrowing money from the likes of RRR who didn't have the money to lend and had to go and borrowed it from Yorkville ????

If Steelmin were "hot" why wouldn't they just get finance from a bank or from a standard industry lender?

As ever, you apply a liberal coating of jam to everything.
 
Helpful
Posts: 4,836
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:0.725
RE: Steelmin RNS 23/06
23 Aug '17
This should help with any refinancing that is going on at Steelmin.

http://uk.advfn.com/common/tweeted/bb/420788?xref=ADVFNPostTweet

If they repay on 01/09, RRR has got 16% of a hot asset for not much risk and not much cost.

DYOR
MrMagic
Posts: 10,625
Observation
Opinion:No Opinion
Price:0.725
RE: Steelmin RNS 23/06
23 Aug '17
I beg to differ. The borrowing of money from Yorkville in order to loan money to Steelmin is highly relevant here. Sure, RRR will pick up an additional 1% of equity while ever they don't repay, but that doesn't help the $4.4m loan with Yorkville does it?! That $4.4m has to be repaid at some point. It's a sizable amount, £3.4m, when the MCAP here is only circa £5m and particularly when there is tiny revenue coming in and sizable overheads, admin/expenses etc. Anyone doing their research imo will presumably want to understand how and when RRR would feasibly be able to pay down that $4.4m and where they would get the money from. Until it is paid off, those "crown jewel" Jupiter shares are locked as security for the loan.
Helpful
Posts: 4,836
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:0.725
RE: Steelmin RNS 23/06
23 Aug '17
As usual you miss the point Tragic. Where the cash came from is not relevant to the 01/09 cut off. Steelmin are incentivised to repay on or before 01/09. Either they have pretty much got it boxed off or they haven't. If they haven't, then RRR picks up 1% per month of the equity till they have. Either way AB should know what is happening. DYOR Good luck with the obsessions.
MrMagic
Posts: 10,625
Observation
Opinion:No Opinion
Price:0.725
RE: Steelmin RNS 23/06
23 Aug '17
From same RNS:

"To fund the Loan, Red Rock has borrowed from YA 11 PN Ltd, on behalf of a group of institutional investors, $4,230,750 on a secured basis for a term of one year bearing interest at 13% p.a. with a renewal option for a further 8 months for a fee (the "Note")"

"The Note is secured against the Company's Jupiter Mines ("Jupiter" or "JMS") holding, the Loan and the Shares"

The above amount was subsequently adjusted to $4,400,000
Helpful
Posts: 4,836
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:0.725
Steelmin RNS 23/06
22 Aug '17
"Red Rock to receive a further 1% of the fully diluted equity of Steelmin if the Loan is not fully repaid by 1 September 2017 and a further 1% each month until April 2018, 0.9% in May, 1.1% in June, and then 1% per month up to a maximum holding of 30%"

Andrew Bell should know by now if Steelmin are sorted with the refinance to repay by 01/09. If they are not well on with it then there is no chance of getting sorted by then. 1% per month of the equity plus 1.083% per month is expensive.

DYOR
Orion10
Posts: 1,876
Off Topic
Opinion:No Opinion
Price:0.725
Wits 2
21 Aug '17
robins
Posts: 1,310
Off Topic
Opinion:No Opinion
Price:0.75
Re: RRR
13 Aug '17
Come on Orion you know AB hasn't got a clue.
Orion10
Posts: 1,876
Off Topic
Opinion:No Opinion
Price:0.75
RRR
13 Aug '17
Come on Andrew- if you want to get RRR up to the market cap I got it too once get on board what is shaping up as the greatest gold rush in history ! Start pegging mate- Novo closed at $3.61 -The Canadians are hot - Aussies and Brits asleep at the wheel -

http://www.stockhouse.com/companies/bullboard?symbol=v.nvo&postid=26573991
Orion10
Posts: 1,876
Off Topic
Opinion:No Opinion
Price:0.775
Pilbara
7 Aug '17
Some joy instead of dom and gloom -we will be the blue eyed Arabs !

http://www.asx.com.au/asxpdf/20170807/pdf/43l6j8jryfkwhg.pdf




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