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Red Rock Resources Share Chat (RRR)



Share Price: 0.24Bid: 0.22Ask: 0.26Change: 0.00 (0.00%)No Movement on Red Rock
Spread: 0.04Spread as %: 18.18%Open: 0.26High: 0.26Low: 0.23Yesterday’s Close: 0.24


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rrrRRRrrr
Posts: 8,386
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Price:0.24
Ladeside
12 Aug '14
It's complicated hence timely. NMC have shown there hand. There must be others interested parties, hence the exclusivity. I don't care what people in here think, the 100k speaks volumes. They are not stupid.
 
Ladeside
Posts: 3,790
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RE: MFP
12 Aug '14
What I don't understand is how we cannot take over their share of the mine as compensation for the default on the RRR Loan ?

Surely we must have drawn up some legally binding contract when all this was arranged ??
chalkminer
Posts: 6,294
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Price:0.24
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MFP
12 Aug '14
..owned by a local family I remember...if they get an offer they now don't have to pay the $2.25M loan back to RRR so all profit... $2.5M not a bad lump sum plus the cash they got from RRR...will have don quite well out of that old goldmine.
Dan_The_Man
Posts: 7,365
Premium Chat Member
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Price:0.24
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RE: Ladeside
12 Aug '14
Yes, my view is that this guy wants either the whole mine or a greater proportion of it...
chalkminer
Posts: 6,294
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RE: NOT GOOD
12 Aug '14
I think they are in discussions with MFP to buy the lot...I wonder if that geologist has arrived yet...

As for the non-returnable monies and exclusivity period...no guarantee of a buy and probably ties in RRR/MFP to any deal rather than the buyer...the buyer will know the impact of a no sale to RRR....or should do...monies will no doubt come from the sale proceeds if it goes through....I sense a potential negotiation at the close based on x,y and z from the DD....if you were the buyer knowing RRR's track record and wouldn't you??
Ladeside
Posts: 3,790
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Price:0.24
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RE: Ladeside
12 Aug '14
Dan, given that the terms are so poor then yes I'd fully expect it to but what I can't understand is all this additional time that's required to complete DD.

Obviously there must be some sort of ulterior motive for this (MFP related ?).

It seriously annoys me though how we are incapable of doing anything in a straightforward and transparent manner.

I tell you, they should appoint Peter Landau to the board and that would just complete the jigsaw...........................
Dan_The_Man
Posts: 7,365
Premium Chat Member
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Price:0.24
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Ladeside
12 Aug '14
This deal will complete...
Ladeside
Posts: 3,790
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Price:0.24
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NOT GOOD
12 Aug '14
Does anyone seriously believe that it's taking this mob all this time to carry out DD and make up their mind ?

It should also be noted that the "100k" is US$ and is in fact less than £30,000 as we have already been paid the first £30k and that's obviously well gone along by now.

This does have another Ashmont / Greenland feel to it and quite frankly it's becoming rather tiresome.
rrrRRRrrr
Posts: 8,386
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Opinion:No Opinion
Price:0.24
Furthermore
12 Aug '14
This is with a mcap of 4 million.
rrrRRRrrr
Posts: 8,386
Off Topic
Opinion:No Opinion
Price:0.24
Toxited
12 Aug '14
But we have had a director buy and 100k. Sale is looking pretty certain in this uncertain world. Just need a trickle of money coming in to make a difference. Mt Tshipi will be sold soon and we will then sell Jupiter shares.



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