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must say I am disappointed that has not been an update on progress or lack of progress not only on Congo but also Elephant Oil and Australia
Last night, the article above came out from Bloomberg. It was too late to post.
However, a poster called tygra has just posted not only the title but the excerpt from the article via a print-out.
Link: https://www.lse.co.uk/profiles/tygra [Just posted today]
Its about "BEIJING" "UNNERVED" at the lithium prices etc.
Chinese miners/majors rushing in by teaming up in a JV in Z I M B A B W E to "explore" for lithium.
Etc.
So, RRR has already got in -see latest RNS a few days ago from RRR and Zimbabwe lithium project 75% + 10% American High Net Worth investors paid US$100,000 for a 10% stake.
RRR's licences is in Bikita or near Bikita and ARCTURUS AREA [Acadia sold to Huayou for US$422m was in ARCTURUS, veld near the Arcturus Gold mine, Zimbabwe.
11.5.22.
"Rio Tinto expanding P i l b a r a IRON ORE footprint."-Australian Resources, 6 days ago.
Rio is talking options in 2 TENEMENTS at the SYLVANIA iron ore prospect [+4 others in the licence area].
It is 15km South West of Newman proximate to BHP's Newman iron ore mine.
----
IRON ORE: PILBARA , WESTERN AUSTRALIA
[] Gina Rinehart enters into a 9% initial stake at Mt Bevan, Pilbara, W.Australia NEXT DOOR to Juno [ASX] at MT MASON [hematite]. Mt Bevan has two projects, one is a MAGNETITE iron ore prospect at 1.1bt tonnes.
[] Sino iron ore, Pilbara, W.A has just reported they made a profit of $1.3 bn from their MAGNETITE iron ore mine thus furthering interest in magnetite iron ore. Sino's deposit is 4bn tonnes.
[] Rio Tinto now enters the iron ore space ie expand footprint in Pilbara iron ore, W.A.
-----------Juno MD stated : M T I D A , Pilbara, W.A is the most technically advanced in the Yilgarn . The prospect is at 1.85bn tonnes and the objective i to complete the Feasibility Study. Durack , MD said Mt Ida is a potential TIER 1 - MAGNETITE iron ore.
A. Bell said in a recent interview with Stockbox Media that the exploration target for Mt Ida is 2-3bn tonnes. -------------
RRR'S INTEREST IN MT IDA.
1.4m shares in Juno, ASX listed.
1/2 of 1.5% royalty at Mt Ida.
[Juno's Mt Mason is at Investment Decision time per latest Ann]
https://hotcopper.com/ASX/JUNO/
Edison: They put Mt Ida value at US$1.165 BILLION [based on 1.1bn-1.3bn tonnes] and at US$3.50 per tonne. This equates to a buy-out price because the iron ore price is around the US$150/tonne mark [ give and take]. So, with Mt Ida now at 1.85 bn tonnes, the Edison cals will have to be revised.
So, RRR 's balanced portfolio has exposure to iron ore in the Pilbara, W.A and more importantly a potential TIER 1. Gina's huge Roy Hill iron ore mine is at some 2.4bn tonnes.
Mon, 9 May 2022.
"KINSHASA IS ALREADY AFRICA'S BIGGEST CITY-COULD COBALT MAKE IT THE RICHEST."-Mining Technology, 15.2.22
https://miningtechnology.com/analysis/kinshasa-africa-democractic-republic-congo-cobalt/
"expands 6%." [Economy]
"POISED TO BENEFIT FROM THE MASSIVE COPPER COBALT B O O M underway in the country."
---------------RRR 's MUSONOI Copper - Cobalt, DRC comes to more attention now-------------
US[$5m + US $15m back from Congo, DRC [50.1% to RRR ]
[Litigation outside Congo for Musonoi vs International co for US$250m].
Musonoi is in the same Kolwezi district as Kamoa-KaKula -Ivanhoe-Zinjin JV.
-------------RRR also has other copper licence in DRC, one of which had been recently
drilled.--------------Waiting on next news from RRR.
Mon, 9 May 2022.
agreed the time frame could be shorter however since there are so many unknowns I would think put a longer time frame on it. Personally I need to allow sufficient time for my investment to realize its potential. I would be very happy if things happen faster
Three elements:
1. The $5mi damages. That has been awarded and is now executable. It can be pursued against VUP or the bank.
2. The $15mil is at Gecamines. The legal position as has been proved is that 50.1% belongs to RRR. AB is going out to dot the i's and cross the t's. Bottom line is Gecamines will pay once RRR and VUP have agree their respective positions.
3. The $250mil+ claim. That might take a while and nothing will happen on it till 1 & 2 are sorted. The steps are clear. Article IV of the Treaty of Rome applies.
The three actions are separate and distinct.
DYOR
I believe the aim will be to come to some amicable settlement concerning Congo damages, we know there is $15m sitting there from the third party but what is not clear is if the initial $5m they paid has been siphoned away by the JV partner and if the JV has the ability to pay the $2m costs/damages awarded by the court, it is not clear what implications would be for the directors of the JV partner (could they receive custodial sentences for example) if they do not pay.
Let's face it if Red Rock can come away with $5m cash from this affair + some licences of equal quality (for example ) it would be a very good result but there is the definite possibility they could come away with a sum far larger.
In my view Bell would look very very silly if he gets nothing having twice said he expects to get a certain amount of cash, so I do expect to see a positive outcome in one form or another.
In respect of the legal claim of $200m+ against the major mining company it is anyone's guess as to the outcome but a nice situation for shareholders to wait for.
I am convinced if this was a more 'popular' company on AIM the share price would be multiples higher but therein lies the opportunity IMO.
"..but in this case we have achieved rapid results in a series of favourable judgments since year end.."
Might not take as long as you think
38x of cash IF no punitive damages and IF there is proven discount on the back door deal NB IMO this is min 2-3 year litigation
News I think you looked up the wrong white fox btw…
https://find-and-update.company-information.service.gov.uk/company/10818472
It’s that one directors include ceo of groc “Kirk” and ”frangeskides
It is pretty clear that there appears to be more interest in Red Rock over recent weeks, it is for a reason as there is a weight of news-flow ahead and in particular a number of potential value events ahead as I commented on in a earlier post.
Bell has said he is going out to the Congo to pursue the 50.1% of $15m cash sitting there held by a third party, Red Rock has also (separately) won 50.1% of $5m + $2m in costs, in all a potential £9.6m at current exchange rates - the current m/cap is barely £5m
Then there is the upcoming float of Elephant Oil which could be worth £2m or even £3m.
What other AIM company are pursuing such a sum of near term cash, it equates to nearly 3 times the current market value alone.
Then add the projects and investments, 37m POW and 1m+ JUNO shares, worth £1m+, add in Kenyan gold (JORC 800,000oz) Congo licences in very prospective areas (including a potential $200m legal claim against a major mining company) the lithium licences in Zimbabwe, the $8m royalty concerning Mt Ida project.
So the above is why interest is building, the bashers here have valid reasons to be bitter but they must have pressed the buy button for a reason at far far higher levels and need to accept they bought in at the height of the last bull market is they have major losses or been wiped out, this has not happened over the last 5 years as the RRR share price has ranged between .25p and 1.3p more or less in line with the sector.
To conclude, now is the time to buy Red Rock, the upside significantly outweighs the downside IMO.
well if you have done so much research here, why do you trust a word Bell (end), says. he's a carpetbagger of the worst order
As I found out yesterday from the Red Rock Resources Admission documents that this co started with MT IDA, MT MASON and two other Mt's. All are situated in Western Australia.
Chairman was A.Bell and MD was Kenneth Frank Watson.
Today, Sun 8 May 2022, Mt Ida & Mt Mason feature again but these 2 assets are now in Juno [ASX 2021 IPO].
The MD of Juno in Mar 2022 Interims stated there is "renewed interest in MAGNETITE iron ore" and this is due to the story of Gina Rinehart taking the next door to Mt Mason, a MAGNETITE project of some 1.1bn tonnes. Further, in just recent days, Sino reported
results of $1.3bn profit and this has caused further interest in iron ore.
The scoping study for Mt Ida gave a price of US$140 per tonne so the current price of US$150 per tonne for iron ore bring focus to the Mt Ida project and MAGNETITE in particular.
Without going over old ground Edison has placed a value of $1.165 bn to Mt Ida if the resource is 1.1-1.3 bn tonnes @US$3.5 per tonne which is the industry average. At Juno's interims of Mar 2022 RNS/ANN, =====MT IDA HAD A RESOURCE OF 1 .85 BILLION.=====
In the current article on Gina and local billionaires which I posted the current price of buy-out is A$10 per tonne = £5.68 per tonne [FX £1=A$1.76] . In Edisons US$3.5 buy-out equals £ 2.84 [todays's FX £1=US$1.23]. So, DOUBLED from Edison's industry figure to today's A$ figure.
IRON ORE MAGNETITE
It require benefication. Mr Durack, the current MD of Juno did the studies on Mt Ida and Mt Mason, Western Australia + Study Mgr for Pilbara Minerals for their huge lithium project relating to metallurgical. Mr Durack has said they can cut capex using a method that the current industry is not using.
RISK
There is EXECUTION , capex and iron ore price risks common to all pre-production projects be it iron ore or other commodity as norm. All risks are always spelt out clearly in the various documents so kindly look.
RRR AND ITS OTHER PROJECTS
Well, MIGORI , Kenya [Gold] is awaiting JV. The latest is a 75% JV into Zimbabwe lithium [2 licences] with American High Net Worth investors taking 10% @US$100,000.
The rest at this time are much, much smaller eg El Limon gold royalty, Elephant Oil IPO [RRR is an investee], Ballarat Gold IPO [RRR is a JV partner to POW], 25m POW shares, DRC copper projects in 3 licences, application for licences pending in Cote d'Ivoire, Bukini Faso and the rest I am not very clear about as I have not finished looking at them.
========MT IDA'S FUTURE IS GOING TO BE INTERESTING==
RRR only holds 1.4m shares in Juno and the balance of 1/2 of 1.5% Royalty on Mt Ida.
So, with that, I close and thank you. So, clarity is about RISK vs reward.
RISK: EXECUTION RISK, $$$ going forward and RRR being in commodities means it rides with the prices of the underlying commodity/ies.
Pardon typos in earlier post:
Not inveriew -INTERVIEW.
Not 3200m -£200m.
giave- give
Page kept freezing &page not responding but bett
On the other RRR forum, 2 mex on 6 May 2022 [Fri #12314]:
"US$250m or roughly 3200m giaves an sp of 16.7p [38x the current share price] based on cash.
Lower outcome is the current litigation. If we take 50.1% o the $15m [approx ££7.5m] and add the already awarded $4.5m it provides $12m or £9.7m would give a share price [sp] based on CASH.
So, low projection doubles the share price , high outcome 38x."
=========CLARITY OF RRR OF A.BELL'S INTERVIEW WITH PROACTIVE ON 29 APR 2022 AFTER THE INTERIM RNS. ===NO ONE HAS DISAGREED ON THE OTHER RRR FORUM.===
NO ONE HAS TALKED OF THE PAST AS EVERYONE =====HAS GRASPED THE CURRENT RRR
SITUATION.====
My Comment:
It does not take too long to fly from London to Congo. Mr Bell will return with cash for US5m already awarded + US$15m OR as he said to Katie of Proactive , "EQUAL LICENCE/split properties." So, best case and worst case. Worst case is NOTHING.
Best Case: All cash. Mid-cash: Some cash and licence equal /split as mentioned.
==========SO, AWAITING RESOLUTON WITH PARA-STATE =======
Type of Risk: Execution Risk relating to US$15m [50.1% to RRR].
Type of Risk: Litigation Risk relating to US$250m claim potentially on an asset of US$125 billion [Consultant Geo's In-Situ Value in the Ground based of said drill holes, reports, historical data . Ref: Current RRR website on Musonoi, DRC [50.1% JV] -link given before so scroll thru my post if interested or go to RRR website Musonoi.]
News, Sun, 6 May 2022.
Important to note too is Micheal Nott who is a non exec on RRR board is also technically ceo of Alba although not in practical terms…so he will be well aware of the potential value of the projects in Greenland if he was to do something with them through RRR at all
Yes loads as I explained on Twitter to you the bottom of alba rns show the ownership of those projects throughout its time the ownership has increased although I’m not sure it was made public
Lastly, before I end on this topic, I noted that the Annual Report started with the share price of Jupiter dropping from x, to y and then z etc.
Therefore, the asset went from some £48million to.....
So, of course this was the BEGINNING....and the reason why is also detailed in the annual report.
It was quite easy to spot. IF RRR HAD SHARES IN JUPITER OF X AMOUNT AT THE TIME, ONE CAN CHECK DAILY THE SHARE PRICE OF JUPITER AND MONITOR IT.
Once it falls, it will AFFECT RRR so one could have taken action in 2012-13.
Hope that helps to explain. I went through the 67 pages quickly but cant spend time pouring over it in detail as its bed-time at 11pm.
Well, it shows that there were ERRORS in the understanding of the royalty as evidence has now been provided the FINE PRINT RNS FROM ANGLO-PACIFIC of 2012 was not just DFS but other stipulations as well as said about capex, decision to mine etc.
Sat, 7 May 2022. This ends the topic. Also, in the interims of 2012 of RRR, I noted that the sale of Greenland was being processed but the financial crisis in Cryprus ....it did NOT SAY THE FUNDS WERE FROZEN IN CYPRUS.
So, appears folks would have had to READ all the interims, annual reports etc to know the details but perhaps in the carry of the news on the forums, the info got lost eg decision to mine etc WERE MISSED etc. All agreements have to be read for the FINE PRINT.
darrentaylor
I have now located the RRR ANNUAL REPORT OF 2013.
Link: https://www.annualreports.com/HostedData/AnnualReport-Archive/r/LSE_RRR_2013.pdf { I copied the link but I am not sure if the address is copied correctly in AnnualReport- or AnnualReport_
"PG 4/76:
PARTIAL SALE OF ROYALTY INTEREST YIELDS US$6 MILLION IN 2012 WITH FURTHER PAYMENTS POSSIBLE."
How did I get to know it was possibly in the Annual Report of 2013 from RRR.
I checked the ANGLO-PACIFIC RNS of 2012 and just went on from there.
So, darrientaylor, ROYALTY AGREEMENT OF 2012 - 10 YEARS AGO WENT THROUGH THE ANNUAL REPORT IN BIG BOLD LETTERS RIGHT FROM THE START OF THE ANNUAL REPORT
on page 4/76 on MT IDA.
See, I check. You can CHECK FOR YOUR SELF and if I copied the link wrongly, then call up "RED ROCK RESOURCES ANNUAL REPORT 2013."
---------------ONE HAS TO CHECK!! I HAVE FOUND IT IS STATED CLEARLY AND ITS IN THE ANNUAL REPORT OF 2013----PLEASE CHECK FOR YOURSELF--------
News, Sat 7 May 2022.
I HAVE LOCATED THE ORIGINAL RNS FROM ANGLO-PACIFIC RELATING TO THE MT IDA ROYALTY DEAL.
Link: https://anglopacific.com/mount-ida-magnetite-royalty-acquisition/
It states very clearly in the this agreement:
" Results of a POSITIVE DEFINITIVE FEASIBILITY STUDY, a formal decision to MINE and 20% of a pre-production capital costs outlined in the DFS being provided for."
Allotment of Anglo-Pacific shares to RRR 416, 161."
Comment:
So, Juno [IPO 'ed in 2021] stated in their latest INTERIMS of Mar 2022 that they intend to COMPLETE THE FEASIBILITY STUDY. SO, NO DEFINITIVE FEASIBLITY STUDY COMPLETED YET = NO DECISION TO MINE or these days what they call, FINAL INVESTMENT DECISION.
The agreement also REQUIRES a pre-production of 20% ...so VERY SPECIFIC in the REQUIREMENT WHICH=========HAS NOT BEEN YET REACHED AT ALL======.
I have to check whether the allotment of 416,161 SHARES IN ANGLO-PACIFIC WERE ISSUED AND WHEN.
One will note that the AGREEMENT is specific to Anglo and RRR in that the fine print does matter and different co's may have different types of fine print. I have not invested in royalty co's like Lassonde so hence why I am checking the agreement of Ango -RRR.
I will see if I can find it as its now late and its so far back to check.
However, it does SHOW that =======NO, MT IDA HAS NO COMPLETED DFS YET=JUNO 'S INTERIM A/CS STATE SO DATED MAR 2022.
I trust this explains as one has to check. So, at the time, you could have checked or gone thru Anglo's Annual Returns, RNS, interims etc to keep track if interested YEARS AND YEARS AGO.
Darrientaylor
Ah, I re-read your post again and you owned shares in RRR in 2010.
A/c to First Equity, the shares rose from 1p to 20p. So, it was a good time to be in RRR shares.
If one owns shares of RRR, then one is entitled:
[1] To attend the AGM and if there is a Q & A to ask about this Anglo Pacific payment.
If it were me , I would also check Anglo's RNS to see how many shares were issued and when and in what form etc.
[2] If one owned shares now or at the time, one is entitled to ask the Nomad.
Examples, Dear Sirs, I own shares in RRR and I would like some clarification as I do not see any shares sold in Anglo Pacific ? Etc.
[3] If no shares in RRR, there is NO WAY TO ENTER AN AGM.
If no shares in RRR, I dont think the Nomad would even entertain an enquiry.
[4] Why do I say this? Its a big event to say it did not go thru IF INDEED it did go thru.
[5] So, what is the POINT that you are trying to make about Anglo?
[6] I just have NO TIME to go though the a/cs because if you were interested you would have had to go thru it yourself AT THAT TIME which is perhaps years and years ago.
[7] As a shareholder of RRR, darientaylor given you are fully convinced that the share sale did NOT go thru the books , then the FSA is the best port of call.
As current holders of RRR, what would be the objective of going back to the past?
It should have been RAISED THEN?
I am of course exchanging thoughts as the above would be your shareholder right ?
I find your post rather interesting, hence I asked because YOU HAVE EVERY RIGHT
TO ATTEND THE AGM OF RRR ETC AND ALL THE ABOVE.
Sat, 7 May 2022.
[2]
darientaylor
I looked at your profile and find that your shares are in the main in the oiles.
I only looked at page 1 of your page to get a sense of your interest in stocks.
I see you have brevity in your posts and therefore in depth research is not your thing.
I ask if in general or in specific that IF ONE IS NOT IN THE STOCK, then why post about a stock one is not invested in?
No, No, No - per your post to me. As I said, I was NOT here at the time and it would take too long to go through all the INTERIMS AND ANNUAL REPORTS to check very carefully. I note that RRR is an investment co just like KDNC and they DO NOT RNS any disposals.
The only way one can see is the % held in a stock - they dont RNS a buy either.
Gunsynd is also an investment co. HAVE A LOOK.
Why do I say about being in a stock. I am not sure that your are posting because you are interested or merely that if others are posting on this forum if they have invested, you dont want any info? Hence, why I asked in GENERAL ONLY - I DONT POST ON ANY STOCK I DONT OWN as I have NO TIME.
-------------SO, FOR AVOIDANCE OF DOUBT-----------
I note that on UKOG at the moment, there is a new poster call l....and I have seen him at KDNC. Now, he has no idea of the PAST of UKOG and hence, I would summise he is a NEW INVESTOR once the RNS on Horse Hill came out recently. THIS POSTER CARRIES NO PAST but the people on the FORUM are saying this and that.
If you are CONVINCED THAT THE MONEY HAS NOT GONE THRU THE ACCOUNTS HAVING CHECKED THE ORIGINAL RNS AND THE DETAILS OR WHETHER RRR IS ENTITLED TO ROYALTIES UPON COMPLETION OF A FEASIBILITY STUDY, I would think the best way is to go to the FSA surely? As for royalties, it is not my understanding that ROYALTIES ARE PAID on completion of a Feasibility Study but rather on PRODUCTION.
By the way, the FS has NOT been completed yet-read the Juno RNS on interims dated Mar 2022. Under Jupiter they did the work but NOT complete it. Quite norm -look at Solgold given the PFS had not been completed UNTIL the prices of COPPER were more upwards. What is the point in spending millions when the price is NOT ideal yet?
Same for MT IDA -Scoping study =US$140/t. Now iron ore is US$150/t and earlier $230/t region. So, $150/t is steady.
I have no TIME TO GO THRU THE ACCOUNTS hence I do NOT PASS ANY COMMENT.
In a democracy, have to CHECK before making X, Y, Z.
Just a discussion to lend B A L A N C E. CHECK MOST FORUMS - THERE IS NO INFO EXCEPT THE CEO, THE CO, THE PAST ETC.
no no no, you don't get way with that, just because someone criticizes a stock doesn't preclude them from owning or not owning, why do you presume that no one reads the accounts, I have held shares in RRR way back in 2010 until I realised AB was a toe rag. and now I just watch the lies and stories unfold. he really should be in the pokey. the shares in anglo have never reared their head in any set of accounts or RNS and trust me if he had sold them and raised the money ie about $5mill he would have been shouting it from the rooftops, in addition, it's not disclosed as an asset held for sale never has been...
darientaylor
As for the disposal of Anglo Pacific shares, IF ISSUED given I was not here at the time, means that it will have gone through the accounts. I note no one looks at the accounts?
I have no time to trace those. However, there are so many accounts on this forum but there is NO actual reference to date of RNS etc. So, Russian etc is not something I have seen.
In answer to Robins as well.
I do not know if you guys are current holders of RRR but certainly if by what you said,
there is no point in being in this stock?
There are better stocks out there I am sure that can fulfil your criterias.
I mean this in a respectful way.
I am here to see what is what for myself and post for those who are interested.
On most stocks one finds that folks must be investing blind. I have just seen MCCOLLS go into administration. On Daily Mail today, it went down with some £90m in debt.
I havent checked whether this figure was in the books but I do know that it was in talks to RE-FINANCE. Some lost thousands so it is obvious folks are investing blindly otherwise how did they think a co going into administration is coming out? Co had warned that even in a re-financing, shareholders will lose out. Same with Sirius Minerals - folks in Yorkshire put their live savings in, pension and every penny they could find. Lots of coverage in the Times etc but just BEFORE it crashed, BANKS WERE REPORTED to be no LONGER LENDING for mineral production especially of the type like the potash from Sirius. If one were WATCHING OUT, one would have known. There is NO SAFE STOCK -FANGS type big mkt cap stocks HAVE CRASHED some losing 70-80%.
So, kindly bear that in mind. Look for something one will be happy with. I always only put in not a lot but I research and keep an eye. If it does not work out say, wild cat drilling, I just walk away and dont post on the forum to moan - no one forces anyone to invest and therefore there is a element of risk one can never discount.
Hope that clarifies in general and in particular.
Sat, 7 May 2022.
Correction I still have all my shares and they are worth around £1000. AB has been a disaster. He has let his shareholders down big style but of course has always rewarded himself. This is the man in charge.
News from memory I thought Greenland was sold for £1. I had 4 million shares at that time. Prior to that AB said all legal duties had been completed with regarding the Greenland sale to a Russian buyer BUT the money was stuck in a Cypriot bank. Anyway we know that was a lie as a poster came on here and said the site was now up for sale. AB hastily issued an RNS to say the deal had fell through. This is the man we are dealing with.