Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Subject to good assay grades this could initiate a serious rise in RRR share price - reward of exploration:
16 November 2021
Red Rock Galaxy Project (Luanshimba) (80%)
· Last batch of samples from 29 hole RC drill programme at ALS laboratory in South Africa with results awaited
· Key pyrite and chalcopyrite intercepts from last holes drilled mean that interpretation awaits return of final results, expected imminently
1 month on - you suggest possibly in the coming weeks due to lab delays
Red Rock VUP Project (50.1%)
• As at the 30 June 2020 balance sheet date, Red Rock was carrying the Project in its books at £583,000.
Is this June 2021 or June 2020?
This is the project we together with partners are looking for $20m compensation from a subsidiary of Glencore PLC?
and what exactly does Scott Kaintz (CEO of failing Corcel - focused on Corcel and not RRR) and Michael Alexander Borrelli (failed BMR) add to the value of the board?
Now we need a 5th board member to help Mr Bell?
HawaiifiveO - who would excite investors to increase the share price from 0.5 to 5p?...and expensive as Helpful suggests / so not benefiting the company by financially supporting the balance sheet and taking 10-20% of the company, rather draining from the company?! The only type of Directors that excite small cap companies are the likes of Paul Johnson who articulates the projects and their potential daily and supports his own company by buying off market and significantly on market. When was the last time you saw Scott Kaintz buy on market over all the years being on the board? Has Michael Alexander Borrelli bought on market since his appointment?
Oh they must be inside and so cannot buy, yet Paul Johnson finds the space with all his newsflow to buy on market significantly.
We simply need to articulate the projects and build momentum in a £5m m/c company. Not build a very old and expensive board with no spark
The lack of the Galaxy JV on the website is probably historical to do with the relative value of the assets. Migori and the other other two licenses in the VUP were deemed to be of much greater value than the Galaxy JV. The licences in the Galaxy JV were virgin and we started the exploration work from scratch. It is only once the next set of results are out that we can properly ascribe value to it.
RRR has said it has cobalt but not that it is a commercial discovery. That comes next, hopefully. The geology is what you expect it to be in that area for copper and cobalt.
If you look at the interview AB did when Migori first happened he said it was 375,000 tonnes of copper and about 24,000 tonnes of cobalt. So relatively speaking Galaxy at the time was small beer compared to VUP.
DYOR
Five O.
I can't give you what is deemed to be inside information. I have his CV and have spoken to him. Where they are up to with an appointment I don't know and don't want to know.
AB has good contacts, speaks good enough French and is a good ducker and diver but with all that is going on we need someone who is up to speed with everything and on top of everything and chases everything to happen right first time and on time and on budget. We need both not either or but he will cost money.
There is only so much that AB can do and he does need support.
DYOR
Liquid Silver
In an interview a month or so ago Bell said he was interviewing a high profile executive to join the RRR board charged to significantly increase shareholder value, he mentioned a multiple of 10 fold. This is my mind is as crucial as any Red Rock project, if the candidate is as good as Bell implied then sentiment towards this company could change in a instance.
I asked Helpful, who seems to know about these things, what progress has been made on the proposed appointment but he did not reply, if, as some suggest, the junior space will become more healthy in 2022 it is essential Red Rock have the right name to capitalise on.
Bell needs to move away from the reigns and allow fresh blood take over, he suggested this so hopefully it will happen.
That's POW communications. Point made.
Was nice of them to add RRR link to one of their tweets earlier today.
I wonder what value Alexander Borrelli adds to the board. Should have brought someone with more pizazz and could help Mr Bell promote the story and projects (which are very good)
https://twitter.com/PowerMetRes/status/1471023491281563649?t=mFji8ZLrosJfScFKOqNPKQ&s=19
https://twitter.com/PowerMetRes/status/1471029801372864513?t=6iXImYYCOwFm3Y3bg7kCUQ&s=19
Bear market for some resource stocks but others are doing ok and my SOU is doing very well this past week. Squeeze due to lack of stock at a certain level, some news flow, buying and it rises. Not rocket science.
From this 0.5 base RRR shouldn't be in a bear market and should be captivating the imagination of current and potential investors.
As long as Mr Bell doesn't raise money again or even worse for a small cap raise debt then there is no real volume at these levels, a squeeze to 0.7/0.8 is very easy and should see a bounce back above 1p where they have warrants.
Mr Bell has sold a large chunk of Jupiter shares (hopefully more) and pocketed over £1m but the market only reacted negatively - surprised me a touch, also sold a chunk of POW shares - very good move with the current share price and helped to fund the RRR balance sheet with all the drilling and assays to come.
I would buy a chunk if I knew he was funded and wouldn't dilute shareholders yet again.
Nice RNS today from Victoria. We saw how ECR built around that story from 0.5 to 3-4p...would be nice if RRR did the same. A lot of investors made profit from the ECR Victorian progress and that cash could easily filter down to RRR with the right communications.
Indeedy.
Currently we are in a bear market and resource stocks are down. What matters is progress on the ground.
More licences, more resources and progress with drilling.
DYOR
"Things going in the right direction."
I presume you don't mean the share price?
https://www.lse.co.uk/ShareChart.asp?sharechart=RRR&share=Red-Rock-Resources
TDT
More progress.
Things going in the right direction.
"shouldn't the company explain better" - could apply to so so many things hahaha
Thank you for your reply.
Understand assay labs have slowed due to volume and Covid.
The RNS on the 11th October stated....'the majority of assay results received, but those from later holes including 'some with significant visible mineralisation' still awaited....we look forward to giving a full report within weeks'
Now 8 weeks later hence I guess the market pullback. Let's hope Mr Bell can push the labs and report the final results. Market is seriously missing the potential of results from the DRC and who will read the results once made public.
The last DRC RNS stated 'Red Rock Galaxy Project'....I cannot locate Galaxy project on the RRR website.
I can see the VUP project and 3 licences but shouldn't the company explain better the 80% owned Galaxy project on the website?
The samples have gone to South Africa. I understand everything has slowed down in South Africa resulting in a back log. I hope we will get them before Xmas but when the lab results come back they have to input into the model and interpreted.
If you were putting money on it, first week January would be a good bet but it could be earlier. I was expecting them weeks ago.
DYOR
Helpful, any idea when we will start seeing assay results from the DRC?
Cobalt has been flying and the more I research the more I see Chinese interest in the DRC...but cannot do anything without assay results and they seem to be taking a very long time
That's the way to look at it.With these types of shares it's a good idea mentally to write off your money the moment you press the buy button
I wouldn't want Caracal paper.
Well if you are management and you know that your shares are massively over-valued then you want to issue as many as possible in exchange for real assets. If you are paying 20% over the odds for the assets but the shares are being issued at 100% over the odds, it is a good deal for the company.
If you know that you are under-valued then you want to issue as few as possible.
Maybe AB won't need to complain about them encroaching other people's assets so much.
DYOR
The wheels seem to be coming off over at Caracal Gold, they had a £25m m/cap recently but it could be argued they are trying to run before they can walk with new acquisitions, their proposed £5m CLN seems to have gone down like a lead balloon, they are also issuing shares like confetti to vendors. Their shares have dropped from recent high of 1.90p to the current 1.15p - not good.
Bell said he would not do a deal with them in Kenya because they do not have the cash and suggested their paper was overvalued, their paper is now losing value, Bell thinks Red Rock has higher corporate standards as a AIM company (Nomad etc) verses their Standard Listing.
IF Red Rock can appoint a high profile CEO or COO the current £7m m/cap would offer newbies a great entry point, the discount is simply down to management credibility currently, not the projects/assets.
How is the situation concerning hiring a high profile executive going Helpful - Bell mentioned a individual was being interviewed a few weeks ago. Will he take the job etc?
This in itself could be a game changer for the company if the fellow is allowed to lead from the front and promote.
Selling Migori is not the only option.
The only thing you can take from these interviews is that NBGC is progressing and should start drilling this week.Kenya drilling for at least another year by the sounds of it. Considering the past history of this asset increasing the JORC reserve and disposing of it ASAP would be sensible. I wonder what they could get for it?
Ah you are such a pleasant chap. What happened to the claims of filtering me?
Anyway, I will pop over when there is news. Which may be sooner than you think.
xx