Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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So no financing being planned, plenty of cash, significant potential for a gold resource upgrade in Kenya with many nearby mines.
The share price is at a 12 month low.
https://twitter.com/proactive_UK/status/1425447925182828545?s=20
Well lets see.
I am pretty sure that a license with 10k of cobalt in it is worth a fair bit more than you are estimating.
DYOR
" Lets suppose that 10k of cobalt in the ground is only worth 1% of market value."
Why don't we suppose, as I suggested, a fraction of 1% and not the full 1% you have assumed. I didn't specify what fraction so you can take it as read that your assumption of $5,434,000 is far greater than I'm thinking. Try knocking the two zeros off the end of that figure and you might be an awful lot closer to where that figure should be. IMO even then that's probably being a tad optimistic.
TDT
Following on from my last post, the transaction in the 1st March 2021 RNS may not have been wonderful for HELPFUL's high net worth clients. By the way Helpful's company is bespoke capital solutions limited.
Extract from 1st March RRR rns:
"The Company has paid US$1,000,000 of the US$2,500,000 payment obligation by paying US$1,000,000 in cash and Kansai has elected to receive the balance of $1,500,000 in the form of an issue of 101,550,000 new Ordinary Shares of 0.01p in the Company ("Shares" and "Share Payment") at a price of 1.05 pence per Share to Kansai.
The Issue of Shares for the Share Payment is conditional on the approval of Red Rock shareholders.
Kansai has agreed to sell 52,437,048 Shares to be issued under the Share Payment to a number of substantial private investors in a transaction arranged by Bespoke Capital Solutions Limited"
Well now we can communicate TDT.
Lets suppose you are pretty much right on your first point re cobalt. Lets suppose that 10k of cobalt in the ground is only worth 1% of market value. 10,000 tonnes x $54,340 = $543,400,000: 1% of that is $5,434,000. RRR's current market cap is only around £7mil. This is the point with RRR, it doesn't take much to make a material difference. Drilling is continuing and as the company has indicated, it is looking to step out the drilling ie., they think the resource is larger. Separately, the company has indicated the the resource extends in the neighbouring block and that there is the possibility of a JV.
On the copper deeper down, it is a bit more than a hope. I posted a technical paper re cobalt in DRC and the geology they are seeing replicates the accepted model.
https://www.sciencedirect.com/science/article/pii/S2300396019301065
The cobalt tends to be shallower and the copper tends to be deeper in the form of sulphides. Anyway, we should know a bit more in the next two weeks when they have done a bit more drilling.
DYOR
that Red Rock Resources do sometimes arrange loans with poster HELPFUL's company. So because you would think he would like to again do business with Red Rock then it's clearly in his own interests to suck up to Bell + always paint Red Rock with a rosey picture.
Todays trades bear the hallmarks of a tip off about something. We've seen it before; many times.
Somebody has seen the light today. How can anybody honestly believe there is an upside to this vapourware? Same old nonsense but without a different outcome. All those that have already lost half since buying recently must be asking themselves some serious questions as to their investment decision skills.
Just bought some more, absolute gift. Migori is worth more than the market cap..
https://twitter.com/RRR_RedRock/status/1425374465664421891?s=19
https://twitter.com/RRR_RedRock/status/1425375096089292806?s=19
Migori is not exploration drilling, it is about doing the drilling necessary to improve the JORC and to make the asset more attractive to a partner or buyer.
It won't take much to significantly improve what we have.
Given the experience elsewhere it is likely that we can move to JORC north of 1mil ounces.
DYOR
https://twitter.com/RRR_RedRock/status/1425343754559500290?s=19
https://twitter.com/JunoMinerals/status/1425287577133740034?s=19
Brings the royalty payments a step closer.
DYOR
Very good.
So we have three active value creates on the go.
Maybe another RNS this week?
"10k tonnes of cobalt at Luanshimba is worth in today's market"
In the ground in DRC? Probably worth a fraction of 1% of the actual value of 10k tonnes.
"If we add in the possibility of copper deeper down...."
Nothing. It's just a possibility in the same way that hundreds, if not thousands, of AIM listed junior miners have possibilities.
A deposit to JORC, NI43-101 or SAMREC is one thing. A possibility is nothing better than a fart in a hurricane and Red Rock has been farting into the hurricane for years. Nothing here has changed no matter how you present it.
TDT
Ah the usual ad hominem and a quick side swerve when asked to discuss anything involving reading?
Anyway, I gave you some questions, as when you feel up to it.
DYOR
"What is it with people who lost money that they think it makes them an expert?"
I don't think anybody thinks you are an expert Heplful.
TDT
Another expert.
What is it with people who lost money that they think it makes them an expert?
Why not try doing some reading and analysis?
AB has said twice now that we have a cobalt discovery at Luanshimba: why not do some volumetric calculations and some valuation modelling? I would be interested in what you think, lets say, 10k tonnes of cobalt at Luanshimba is worth in today's market? If we add in the possibility of copper deeper down, what would that add? Or maybe, you can give us your opinion on what you think the RRAL valuation will be at IPO?
Or maybe you have some insight on how it is going at Juno?
https://twitter.com/JunoMinerals/status/1420176175826042883?s=20
https://twitter.com/JunoMinerals/status/1414815087924158466?s=20
Or maybe you can update us on your thoughts on Elephant Oil Corporation?
Any insights or wisdom at all would be most welcome.
DYOR
"In the meantime, regardless of what the experts on here think,......"
Irony is lost on you Helpful.
TDT
Is it any wonder that some people lost money hand over fist? They hold themselves out as experts but understand nothing except that they want to promote a certain narrative.
In January 2021 FSV topped out at CAD4.364c and yesterday after the drilling update it closed at CAD1.133c.
Any good news on exploration in Victoria is generally good news for RRAL and RRR regardless of the share price of the company coming out with the good news.
Whether the FSV share price is up or down has no bearing on whether the drilling results yesterday were good news or not. It was definitely good news and no too far from one of our larger licenses. The more discoveries that are made in Victoria the better for RRAL and RRR: it proves up the hypothesis that there is undiscovered gold all over the place.
The TSX is a messy market, I have a large holding in one company listed on there. I can tell you that you unless you are going to get a really decent valuation premium you would not want to list there. Just everything about it is cumbersome.
In the meantime, regardless of what the experts on here think, that was good news yesterday for FSV and for RRAL/RRR. I look forward to the IPO.
DYOR
The amusing thing about yesterdays Andrew Bell proactive interview was that around the one minute point Bell was putting the boot into Fosterville saying they were over promoted last year and are a bad comparator to RRAL. Then he said he wanted RRAL to instead be compared to London listed ECR.
https://m.youtube.com/watch?v=9N-8j4aJEg4&feature=youtu.be
Then just a couple of hours after the interview Fosterville release a new upbeat RNS and Bell, Johnson and ramper Helpful all now want to associate RRAL with Fosterville once again. I guess it's the fickle world of ramping.
By the way around the 2 minute point doesn't Bell come across really shifty? I don't think he convinced Katie to invest her £25,000 in RRR.
https://twitter.com/pauljohnson9691/status/1424974735016931337?s=19
https://twitter.com/pauljohnson9691/status/1424744226655543301?s=19
https://twitter.com/TheMarketBullAU/status/1424705974435291137?s=19
https://twitter.com/RRR_RedRock/status/1424758913187123200?s=20