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Red Rock Resources Share Chat (RRR)



Share Price: 0.065Bid: 0.06Ask: 0.07Change: 0.00 (0.00%)No Movement on Red Rock
Spread: 0.01Spread as %: 16.67%Open: 0.065High: 0.00Low: 0.00Yesterday’s Close: 0.065


Share Discussion for Red Rock (RRR)


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zumore
Posts: 2,045
Observation
Opinion:No Opinion
Price:0.09
View Thread (5)
RE: rrr broker note
1 May '15
I agree we should sell our shares in RSL because getting around £400,000 for them would be good and of course owning shares in a sweetie maker is ridiculous for a mining exploration company.

When i first invested in Red Rock RSL announced they were going into oil prodution with D-bar: quite exciting. And when that fell through i think if my memory serves me correctly they then said they were looking at opportunities in Mongolian coal mining: not so exciting.

So now RSL have decided on investing in sweetie making i think its totally inappropiate for Red Rock to still be invested and so i think we should definately sell our RSL shares.
 
ther0xbury
Posts: 30
Off Topic
Opinion:No Opinion
Price:0.09
View Thread (2)
RE: RRR
1 May '15
me too! I now have a cool 8Gs in here now but my average is into the 0.80s still :(((((((
unluckyruss
Posts: 6,789
Research
Opinion:Strong Buy
Price:0.09
View Thread (5)
rrr broker note
1 May '15
With the near conclusion of Red Rock’s Colombian gold project sale of
up to $5m and positive updates from several other projects/assets, we
have re-visited our numbers from last October to calculate a revised
sum-of-the-parts valuation.
As the management have demonstrated their ability in negotiating an
asset sale, they may now be able to focus on monetising or seeking JV
partners for other interests such as the Greenland iron ore and Kenyan
gold projects.
A more likely near term asset realisation could come from Red Rock’s
interest in Resource Star Ltd. Last week the ASX listed company
announced it had conditionally agreed to acquire a controlling interest
in Sugar Dragon which has an exclusive licence to produce and
distribute Candy Crush branded confectionary in Greater China. Given
that Resource Star Ltd has now moved away from its original remit to
invest in uranium projects, Red Rock may choose to dispose of its
equity and option stake, which currently has a market value of around
£0.47m.
Another asset that could become realisable at a higher value is Jupiter
Mines, where Red Rock holds a 1.2% stake and royalty interest that we
currently value at £4.23m in total, representing the Group’s second
largest asset by estimated value, after Kenya (£4.82m). With the
improved performance of Jupiter’s producing manganese mine in South
Africa and given Red Rock management’s belief that Jupiter should be
profitable enough to start paying a dividend soon, we could witness
further upward revisions to the net asset value and perhaps an exit
route opening up from a Chinese or Indian buyer.
In terms of newsflow and project advancement, we may see the most
action from the Group’s gold (and manganese) exploration interests in
Ivory Coast which could emerge as flagship Group projects. For the
moment we have applied a notional valuation of £0.23m on the licences
to reflect the estimated cost of project acquisition and funds spent to
date in the country. With further exploration and licence additions
anticipated from the Ivory Coast in the coming months, this valuation
estimate may rapidly rise.
Our estimated net valuation (Table: 2) for Red Rock’s projects
improved slightly to £14.73m (previously £14.65m). Once the
improved cash and debt position has been factored in, our estimated
asset value comes to £15.26m, an improvement of 10.2% from the
October 2014 estimate of £13.85m. With a higher number of shares in
issue than 6 months ago following the recent £1m placing at 0.08p and
note conversions, the price target per share is reduced from 0.63p to
0.33p. A target price of 0.33p nevertheless represents a sizeable
potential uplift of 288% from the current share price of 0.085p and
clear sum-of-the-parts mismatch to the current market price. With a
number of valuation catalysts possible in the near future from Jupiter
Mines and Ivory
ClockWorkOrange
Posts: 321
Off Topic
Opinion:No Opinion
Price:0.09
View Thread (4)
RE: parislse
1 May '15
I think in the trade they call that a "buy".
ClockWorkOrange
Posts: 321
Off Topic
Opinion:No Opinion
Price:0.09
View Thread (4)
RE: parislse
1 May '15
"Once the
improved cash and debt position has been factored in, our estimated
asset value comes to £15.26m, an improvement of 10.2% from the
October 2014 estimate of £13.85m. With a higher number of shares in
issue than 6 months ago following the recent £1m placing at 0.08p and
note conversions, the price target per share is reduced from 0.63p to
0.33p. A target price of 0.33p nevertheless represents a sizeable
potential uplift of 288% from the current share price"
ClockWorkOrange
Posts: 321
Off Topic
Opinion:No Opinion
Price:0.09
View Thread (4)
RE: parislse
1 May '15
Cash is King

"A more likely near term asset realisation could come from Red Rock’s
interest in Resource Star Ltd. Last week the ASX listed company
announced it had conditionally agreed to acquire a controlling interest
in Sugar Dragon which has an exclusive licence to produce and
distribute Candy Crush branded confectionary in Greater China. Given
that Resource Star Ltd has now moved away from its original remit to
invest in uranium projects, Red Rock may choose to dispose of its
equity and option stake, which currently has a market value of around
£0.47m."
chrisatron
Posts: 16,815
Off Topic
Opinion:No Opinion
Price:0.09
View Thread (4)
parislse
1 May '15
Thanks for posting the broker note.
zumore
Posts: 2,045
Observation
Opinion:No Opinion
Price:0.09
Also just seen your
1 May '15
face on twitter. Your faces matches your name.
zumore
Posts: 2,045
Observation
Opinion:No Opinion
Price:0.09
Lemonade your 10.45am post
1 May '15
I see you are one of these posters who sign off there posts with their name.
thegame316
Posts: 2,041
Off Topic
Opinion:No Opinion
Price:0.09
re pork pies
1 May '15
To be fair now is a good time to topup or take up a position. Just don't expect a mutibagger. But a quick 30-40% profit is achievable. Just need to keep greed in check and don't buy into the hype too much...





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