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Red Rock Resources Share Chat (RRR)



Share Price: 1.00Bid: 0.95Ask: 1.05Change: -0.025 (-2.44%)Faller - Red Rock
Spread: 0.10Spread as %: 10.53%Open: 1.025High: 1.025Low: 0.975Yesterday’s Close: 1.025


Share Discussion for Red Rock Resources


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MrMagic
Posts: 10,979
Observation
Opinion:No Opinion
Price:1.00
RE: Kabaa
Today 10:35
AGM resolutions (all now passed) can be read in Section 66 towards the end of the report

Page 68 in the pdf.
 
MrMagic
Posts: 10,979
Observation
Opinion:No Opinion
Price:1.00
RE: Kabaa
Today 10:33
MrMagic
Posts: 10,979
Observation
Opinion:No Opinion
Price:1.00
RE: Kabaa
Today 10:31
"£550k promissory note repayment, £365k Jupiter divi"

Yeah, nice bit of welcome cash but unfortunately the company Admin and Exploration Expenses (as per Annual Report) are running at £686,000 per annum so one can see where most of that cash is going to end up.

Directors emoluments were stated as £343,681 so that's pretty much the Jupiter pay out isn't it?!

The rest of your list is speculative. Steelmin have thus far NOT paid back their money to RRR. Jupiter have thus far NOT listed. Colombia royalties have thus far been paltry to the point of absurdity imo.

Savvy investors will imo wait to see what transpires in these critical areas. If Steelmin elect to extend their financing with RRR and kick the can down the road for another 8 months then what? RRR will presumably continue to pay down the remainder of that $4.4m loan with YA that they took out which likely means more confetti/CLNs imo.

As per other poster's ramps, the company actions don't gel with this rose-tinted view of the world. The BOD deemed it necessary and prudent to request authority to issue up to 500m more shares here (currently 499m in issue). That is a very significant amount imo. If many £millions were expected imminently then the BOD would not have needed to request such authority, simple as. imo.
joebop
Posts: 2,359
Off Topic
Opinion:No Opinion
Price:1.025
RE: Kabaa
Mon 23:45
Different scenario? Same clowns still in charge mate, half a million to run 2 companies out of 1 office per year. BAT SHIT CRAZY.

Bell is the only ceo, who can get 2 million hard cash in to the coffers and the share price takes a hammering.

What about the money going out and the MASSIVE dilution (remember the MASSIVE!) re Congo if it goes ahead.

What about all that money that just never makes it into projects yet disappears from the books? Admin eh, it's a doozie.

Wasn't Steelmin suppossed to be in production already? Reminds me of another steel ingredient project bell is running from the other side of his office desk.

Or is that being run by a chap he doesn't know who shared an office with him for a few years. "Stop hiding in the cupboard counting all your sheckles julian, its all legit, i gave you a pay slip" i would imagine was a weekly holler on pay day. It could be the only way they never met.

Ah yes, the share purchase. Nothing at all to do with an activist investor who took 15% no? AGM time approaching, Bell hears Julian counting the sheckles again (but can't find him), then he realises....shiiiiiiiit the votes are too tight, crank up the confetti machine again. Some paper snow for christmas. Wahey.

In case you forgot for every 1 share he bought for the last few years he has been getting another 2 free. Waheyyyy.

Build that ramp for the loan notes, there a gonna be heavy.
Kabaa
Posts: 678
Off Topic
Opinion:No Opinion
Price:1.025
View Thread (2)
RE: Kabaa
Mon 21:58
Well if you cant see that we are in a completely different scenario today, where we have within 10 weeks around £4-5m CASH coming in from :

£550k promissory note repayment
£365k Jupiter divi
£1.8m left over from steelmin repayment
£1.5m cash from Jupiter IPO
Money flowing in from warrant conversions and Colombia Royalties

Having a massive shareholding in steelmin moving into production, a massive liquid shareholding in Jupiter that will put an extra 8 figures on the balance sheet, Kenya licenses being reinstated with a partner lined up to move in to a 1m oz gold resource, a massive oppurtinity in DRC being announced by the end of the month etc. AB buying £175k of shares recently, knowing more than anyone whats going on, with a market cap of £5m at 1p then no-one can help you!

Do you really think in this scenario, we need death spiral financing?

AB would not buy that many shares if he did not think he would multiply his money quickly imho.

I'd suggest to stop looking in the rear view mirror and keep your eyes on the road ahead. RRR will get a lot of coverage over the next few weeks....

I would wish you good luck but you wouldn't know what to do with it if you got it.
MrMagic
Posts: 10,979
Observation
Opinion:No Opinion
Price:1.025
View Thread (3)
RE: Kabaa
Mon 19:26
" RRR was cash poor and had to keep raising money to keep the lights on"

RRR had some 74m JMS shares which were worth in excess of 25m at one point. The BOD failed to sell them all at such a lucrative price to release all that value for shareholders. Could have been cash rich, instead chose to embark on years of death spiral financing.
Kabaa
Posts: 678
Off Topic
Opinion:No Opinion
Price:1.025
RE: Kabaa
Mon 18:56
The difference in in the time MrMagic lost all of his money and now, is that the assets back then were illiquid and drastically dropped in value in a huge bear market. RRR was cash poor and had to keep raising money to keep the lights on. Now its completely the opposite, they are just about to turn into solid cash several times the market cap. As the days go by and this gets closer, the sp will rise as day follows night.
Magic can't seem to see the difference between having solid cash and having mining licenses in a bear market that no-one wants. He invested at an extremely risky time. (2012)
colinH100
Posts: 1,871
Observation
Opinion:No Opinion
Price:1.025
RE: Kabaa
Mon 18:55
Still sniping away from the sidelines I see Vini. Perhaps your relative will get his job back soon.
Seingred
Posts: 2,376
Off Topic
Opinion:No Opinion
Price:1.025
View Thread (2)
Rrr
Mon 18:50
happy to see us upback to 1 p and long may it continue.however it should be remembered that 1 p pre consolidation was p.ss poor.oh the 3 p party posts.that would be 60 p in new money ,lol.
The market wasnt the problem here,one cr.p deal after another ,covered by death spiral financing was the problem.ascot,colombia ,shoats,elephant,ivory coast etc.a large part of our jms holding sold at circa 7 cents a share.would have been better served taking no extra projects and going into survival mode.shame he didnt stick all our millions in bitcoin.we would have the half a billion company and some now lol.
Anyhow,any genuine holder buying in in the last year has been in at the best time for ages.Jonestone you lost your bet.still not hit 1.65 lol.may happen this year.general market seems to be improving so who knows.historically though this company has been tragic for all except the management.I compare my holdings from 2011 ,rrr and cnr.rrr has a m cap of £5 m cnr £35. Cnr had a lower m cap than rrr in 2011.
Kabaa
Posts: 678
Off Topic
Opinion:No Opinion
Price:1.025
RE: Kabaa
Mon 18:50
City Fan, he's just a newbie that lost a tonne here. Here is a few of MrMagics old posts of his - it really is tragic. He invested before it dropped 99% and averaged down.

RRR
Strictly
9 Nov '12

I appreciate your despondency but I don't see your logic. If you were sat on large paper losses then you had NOTHING to lose by simply holding and being patient. I iterate again that if the company were to fold today, the sum total of all of it's assets would provide shareholders with far more than the current SP. Indeed I challenge anyone here to put up a reasonable estimate of RRR's assets and show that the equivalent SP generated is less than 1.3p.
If you bought in at 19p per share and have sat on those and watched their value drop down to 1.3p then I would say that your investment strategy was at fault, not the company. To sit still, do nothing and watch that happen would (at least to me) to seem ill advised.
Only dead fish swim with the stream.
A ship can not be steered unless it is actually moving.
If you could not afford to invest more and more to average down (like myself) then you should surely have repeatedly sold quantities of your holding and bought back in later. Your average would have been drastically reduced through such action. I sympathise with your predicament but we must each take control of our situations and not allow these markets or BB posters to dictate the putcomes of our investments. We have choices. We CAN reduce averages through various means and stay in the game. GL in your next pursuits.

.........................

RRR
Wondergoals
22 Aug '12

Having put some £18K into this share you better believe I am very interested to know if and when people are selling out. If any share I have starts to seriously tank I want as much early notice of it as possible so I can decide whether to bail myself and cut my losses. Understanding market movements is important whether they're buys or sells.
......

RRR
wonder
5 Sep '12

I topped up twice in the past couple of days when I could get a decent price and I bought in 100K chunks I think. I just couldn't resist given the coming JMS news. Consequently got reasonably excited at midnight last night when Mt Ida 132% was announced and stayed up to watch the ASX open. Naturally, today I feel somewhat dampened by the lack of reponse in both SPs !
................

RRR
rrrRRRrrr
11 Mar '13

"You got in here on the day we had a 30% spike. Thats you tough luck."

Nope that's not true at all. I bought a handful of shares back in Feb 2012 (£2-3K's worth) but the proper investment was made in May at 2.07p and at the start of June at 1.6p (cash and SIPP). neither on a spike. That made up my first 1m share holding. Bought more during 2012 taking it to 1.3m, sold a few in Oct and bought back a little cheaper to help ave down which happened within days. Nevertheless I sit at a 45% and 60% loss here. If AB can actually sign and seal Greenland then




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