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Share Views: Mike van Dulken on today's Company Results and Macro considerations


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: 0.70Yesterday’s Close: 0.70


Share Discussion for Red Rock Resources


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matlot
Posts: 21,430
Off Topic
Opinion:No Opinion
Price:0.70
/
Fri 12:02
rns
RNS Number : 7714L
Red Rock Resources plc
21 July 2017

Red Rock Resources plc

("Red Rock" or the "Company")

Shoats Creek Update

21 July 2017

Red Rock notes the announcement today by Mayan Energy Limited (AIM:MYN) ("Operator") regarding in part the Company's investments in the Shoats Creek Field in Beauregard Parish, Louisiana ("Shoats Creek"). Red Rock has a 20% working interest in the Lutcher Moore ("LM")20 well and certain other wells within in the field.

Highlights:

•Mono-pump Installed on the LM 20 Well to Better Handle Downhole Conditions
•Additional LM20 Production Information to be Provided by the Operator
•Saltwater Disposal System in the Field to be Reactivated
•LM13 to be Placed on Pump - Additional Stimulation Opportunities to be Assessed

Notes

Attention is drawn to the announcement by Mayan today for further information on the developments at Shoats Creek. This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
 
MrMagic
Posts: 10,439
Observation
Opinion:No Opinion
Price:0.70
RE: LM20
Fri 11:00
Actually the truth is that the re-start of the well is underway:

From MYN RNS:

"Re-start of operations of the Lutcher Moore #20 (LM20) well are currently underway:

- The Company has completed the installation of a mono-pump in the Lutcher LM20 well that will better handle the water and sand issues which had previously caused a cessation in production; and,

- Details with respect to flow rate from the well will be provided in due course as production stabilizes."
Helpful
Posts: 4,638
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:0.70
LM20
Fri 10:36
Since RRR has not bothered to update. LM20 is back online.
MrMagic
Posts: 10,439
Observation
Opinion:No Opinion
Price:0.725
RE: Iron Ore
Thu 10:37
Iron ore price probably needs to rise a fair bit more before Jupiter decide to pull Mt Ida out of mothballs though. If I remember correctly the iron ore price was over $100 before they put the project on care and maintenance so I personally assume that the price needs to be at least that level before Jupiter will think about investing in it further.
The original scoping study suggested operating costs of some $62 per tonne of concentrate FOB and the cost of developing the project was some $1.6 billion which is a significant amount of money.

http://www.jupitermines.com/images/jupiter---ungohxoozu.pdf

With Tshipi doing well though and the possibility of a sale of that asset then one could envisage sale proceeds being put towards projects like Mt Ida/Mason. That would be great for shareholders here because RRR has a royalty agreement with Mt Ida so there exists the possibility of some future revenue there if Jupiter did decide to bring the projects out of mothballs. Seems unlikely to happen though unless/until iron ore price is over $100 imo.
PorridgeOats
Posts: 14
Off Topic
Opinion:No Opinion
Price:0.725
Iron Ore
Thu 10:10
The iron ore price is looking strong which, if sustained, will add value to Jupiters other assets.
matlot
Posts: 21,430
Off Topic
Opinion:No Opinion
Price:0.70
RE: I reckon
Wed 14:11
what a strange comment - are you speaking from experience?
PINMAN
Posts: 244
Off Topic
Opinion:No Opinion
Price:0.70
I reckon
Wed 09:16
A lot of posters on here who post 24/7 are the same person.
matlot
Posts: 21,430
Off Topic
Opinion:No Opinion
Price:0.725
RE: Zumore
Tue 20:14
typo
according to you helpful you always make profits but never losses but as i have already pointed out in myn from your old psts you must be well down there and the same for rrr if you review your old posts

see your carefull crafted post yet again never mentions the risks here such as the pre approved 500 million dilution shares that can hit at anytime at an unknown sp - and i reckon given the current jupiter and steelmin situation at least a portion if not maybe all will be used which will knock this sp back if so

i am not happy mac has effectively gambled our only jewel jupiter for steelmin - i notice you are back banging the drum in myn again as you have been for months (and the share price keeps crashing there) and did wonder today when you would be back here in rrr pushing this - and here you are again - i am an rrr share holder and we will know more around september time probably or dilution before then perhaps imo
matlot
Posts: 21,430
Off Topic
Opinion:No Opinion
Price:0.725
RE: Zumore
Tue 20:13
according to you helpful you always make losses but as i have already pointed out in myn from your old psts you must be well down there and the same for rrr if you review your old posts

see your carefull crafted post yet again never mentions the risks here such as the pre approved 500 million dilution shares that can hit at anytime at an unknown sp - and i reckon given the current jupiter and steelmin situation at least a portion if not maybe all will be used which will knock this sp back if so

i am not happy mac has effectively gambled our only jewel jupiter for steelmin - i notice you are back banging the drum in myn again as you have been for months (and the share price keeps crashing there) and did wonder today when you would be back here in rrr pushing this - and here you are again - i am an rrr share holder and we will know more around september time probably or dilution before then perhaps imo
Helpful
Posts: 4,638
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:0.725
Zumore
Tue 19:47
I am not sure you understand how investing works.

I buy a share because I can see where the upside is. If I can't see the upside or I can't take the risk I sell and move on. What is the point of prattling on endlessly about a share you don't fancy?

On the other hand there are perfectly good shares that I sell because I think there is more upside elsewhere. I sold UKOG and ADL today for profits. Both I think will do okay but there is now more upside elsewhere and in the case of ADL they may need some more cash short term.

Just because I sold them doesn't mean that I don't think they are good companies. I have made money five times on UKOG and three times on CEB/ADL. I will not linger on the UKOG & ADL boards telling everyone I have sold.

On the other hand there are people who are plain malevolent and are out and out Trolls. Each company has them.

If someone has a different view I am happy to engage until I realise they are a troll.

With regards to RRR; reliving disasters from 2/3/4 years is not relevant to today. RRR looks like it will get a cash realisation from Tshipi/Jupiter and the Steel Min deal looks okay. AB is not my cup of tea and I can see why his manner and voice grate; however, it is simply not relevant to the two deals he has done and where the company is now.

Getting out of this 3/4 times up will be fine and then I will invest in another company with the proceeds. I have already made money twice on RRR.

If you or Tragic or anyone else lost money 2/3/4 years ago that is nothing to do with the company as it is today and the prospects for Tshipi and Steel Min.

I watch companies which I think are being ramped and are over-valued all the time. I have watched Echo closely. At some point there will be a time to buy but I don't think it is yet. What is the point of posting 24/7 on the Echo BB telling people they haven't timed it right?

DYOR




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