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Indeedy.
Based on the business plan from 2014, the royalty was worth about $10mil pa to Red Rock. This is now down to the new management and can they raise the funds necessary?
DYOR
More important to RRR in the medium term if it unlocks the Mt Ida royalty and Anglo Pacific $8m payment. In the short term still around £111k worth of Juno shares to come to RRR if my fag packet calcs are correct. Can't see any reduction in JMS share price to compensate since the Iron Ore assets have never been priced in and the proposed demerger hasn't seemed to inflate the share price since trailed last year. All helps!
Red Rock Resources - IPO of Juno Minerals Limited #RRR @RRR_RedRock https://www.**********.co.uk/rns/announcement/5097274f-dab0-4395-a8c5-853e5e81640e #********** undefined
You filled that gap anyways. Posting negativity every other day. I don’t know situation with you. May be you lost money here. How it will help you to recover by posting negativity.
For all you know he may be unwell.
So don't be a tw*t.
Anyone seen Mr Tragic?
Interesting....!!
https://www.londonstockexchange.com/news-article/POW/option-signed-australia-copper-gold-acquisition/14832372
RRR's holding in POW will be worth a lot of money shortly.
DYOR
An extract from the 31 Dec 2020 final results RNS said:
"On 21 December 2020 the Company agreed to restructure payments due to Kansai Mining following renewal of the Company's exploration licenses held over the Migori Gold Project in Kenya. Of the US$2.5m cash payment due under the original agreement executed on 15 June 2018 within three months of license renewal, the Company agreed to pay $1m in cash immediately, US$0.5 million of which was paid on 24 December 2020, with a further $1.5m to be paid in cash or stock at Kansai's discretion, by 29 January 2021. Any shares issued under this second payment were to be priced at the closing price of the Company's shares on the date of issue"
......
Yet when Red Rock CEO Andrew Bell posted on this thread in September 2020 he was saying he was saying Red Rock had lots of good options to pay Kansai the $2.5 million. Read his top post in his LSE profile:
https://www.lse.co.uk/profiles/andrewrbell/
In the end he's decided it will be RRR shareholders who will get diluted to pay Kansai the $2.5 million.
Is the Kenyan gold exploration Project really that good? If it was you would think rich partners would be desperate to partner Red Rock in the project.
Normally golf in Nairobi at this time of year.
https://twitter.com/ShareTalkNews/status/1350771150205304832?s=20
Interesting on Red Rock.
https://twitter.com/StockBoxMedia/status/1350473013532233731?s=19
Hi Zumore
Could mr Bell be on an African safari?
No it doesn't mean news.
I remember years ago on one of his former (closed down!) twitter accounts he posted a photo of an African fertility symbol when he had just arrived in Africa. Many jumped to conclusions and asked what it meant and then concluded African news would soon be RNSed. Many months passed and the news never arrived.
PS: Let's hope they bar him from re-entering the country!
Off to Africa..
https://twitter.com/ABell2019/status/1350009059576053762?s=20
Likely means news next week.
DYOR
Recorded on the 12th of January, 2021, Andrew Bell answers shareholders question in this open forum.
https://twitter.com/Share_Talk/status/1349288278277677057?s=20
https://www.share-talk.com/share-talk-presents-a-live-qa-session-with-red-rock-resources-plc-rrr-l/
Here are a few pointers covered during the live broadcast in no particular order
How do you compare Red Rock a year ago with Red Rock now? And where do you expect to be in a year’s time?
How are you going to measure your performance in the next year? What would be a success, and what would be a failure
These are very general questions, allowing an opportunity to re-establish context before questions become more diffuse.
Re the Mt Ida Iron Ore prospect to be spun out of Jupiter Mines.
When are you going to get your gold licenses granted in Victoria? And how long will it be before you can you get these assets listed?
How do you do business in corrupt environments, like Cameroon? [I know, we’re not in Cameroon, but that means I can answer the question generally, without mentioning DRC or Kenya]
What are your top 3 assets? How would you rank the projects?
What is the Company’s relationship with local authorities and communities?
At Migori in Kenya, CSA have been appointed, how much work do they need to do and what sort of time scale are we looking at to get the JORC done?
RRR previously submitted a mining application on the Kenyan tailings, what needs to be done to submit a new mining application and how long does he think it will take?
Do you intend to develop or sell the Kenyan assets?
At Musonoi in the DRC Red Rock said about 18 months ago that they were sending quarter cores off for analysis so that a maiden JORC could be generated. this was put on hold because of partner issues; where are they up to now? Do they have access to the cores, can they send the quarter core samples off for analysis, what needs to be done for the JORC
Apart from the Mt Ida iron ore royalty, do you have other royalties?
When are you planning to start field activities?
What is the latest on Luanshimba, does the recent phase one work help us at all or do we still need to get the phase two work done before we can form an idea on if we have anything?
As your investments in Jupiter and Power Metal Resources are now worth nearly £4m, should you sell them to provide funding for the other projects?
Why are you getting involved with Vector? Haven’t you got enough on your plate?
Wilbur, I think that your position in Anglo Pacific will reward you very well, both as to income yield & capital appreciation.
That is a very good point, i will admit. Plus i also have a position with Anglo pacific, you could say its a win win, potentially!
However, a company is only as good as its management, which has been patchy.
My comments may have been a bit harsh, but from a prospective investor point of view, regardless of the fundamentals, Mr Bell was not inspiring at all.
Well Wilbur79: I consider that there are many reasons for investing in RRR.
Just try this little one for size:
Jupiter Mining are spinning out their Mt Ida iron ore operations. RRR has a 1.3% gross revenue royalty. Of this Anglo Pacific has an obligation to purchase 0.45% for $8 million. With iron ore approaching multi year highs and assuming same valuation then the value of the whole is some $23 million. Or the remaining .85% can be held as a source of royalty revenue.
I have holdings in several junior exploration companies, including PMR.
Just watched the webinar, so totally uninspiring!
How anyone would consider investing in this company would be beyond me.
Comparable only to Gerald Ratners speech which ended that jewellery company
Well darientaylor - given your flurry of negative posts you obviously consider this to be a pile of s... So you presumably do not own any shares here & so what is the point? What is the agenda?
As to the write back of impairments which then produce the bottom line profit, this is absolutely transparent within the accounts. Anyone reading them cannot but fail to understand.
so RRR are doing the rounds with webenairs etc, and have published results showing they made a huge profit, conveniently to coincide with this pitching round... all he has done is write back the historical impairments to make the P&L look good... but its all smoke and mirror anyone can write back impairements. question is are they legitement?? I think not..
are you listening to the webenair. he is full of it. and it smells
value gao, this company in the last 10 years has had 14 different projects that all were talked up and looked great on the prospectus sheet but were ALL written down to zero... for value gap read markets utter skepisicm in Bell's total fantasy statements in the past.. no one in the city believes the carpetbagger anymore
Well I reckon that it certainly ranks for potential above: Bezant / Empire / ECR / Alba / Power Metal
Slot in where you think RRR should be based on its management's past history might be more relevant.