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PorridgeOats. After being removed as a JMS director he may well have a fit of pique on top of RRR desperately needing the money. I'll wager the JMS shares are going.
Timber!
Last time he sold, just before bad news hit, he claimed in was to buy his daughter a house and didn’t know the bad news was imminent. With debt repayments due and no ability to raise funds through a placement, I think he’s about the either sell JMS or the Iron Ore Royalties. Once this gets out the share price will tank. Will this be by coincidence just at the same time one of his offspring needs a new house?
Smugly, yesterday I posted: "Todays trades bear the hallmarks of a tip off about something. We've seen it before; many times."
Talk the talk but can’t walk the walk.
Mr Andrew Bell, a director, has sold 1,801,637 Shares at a price of 0.565 pence. Well, if he doesn't think they're worth hanging on to at the "absolute gift" price who are we to argue? He knows something or he would have hung on, obviously.
Looks like even Bell is getting fed up, lol!
He managed to sell at the low yesterday...classic Bell.
Very good interview.
Bottom line: activity improves the asset and sucks in potential buyers/partners.
DYOR
seems to be getting sick of Bell. For those that don't know Winnifrith is Bell's good friend so he's always tipping RRR.
Yesterday on sh*reprophets they posted:
"Red Rock Resources (RRR) has made Australian gold joint venture and DRC copper-cobalt project drilling updates and, though the shares are still up from circa 0.5p a year ago, at 0.625p they are down from more recent levels this year and are, in fact, back at our original tip price. So what’s the story? Well it is one of more non-delivery from Andrew Bell. Great potential but a CEO not doing what he said he would do"
You miss out the warrant exercises, the sale of JMS shares and all the other assets that can be sold.
Started drilling to increase resources - Gold on the up!
Sit tight - she could take a jump iMO
AB says "plenty of cash " Where from\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\? Only income is from JMS and El Limon royalty. Not nearly enough to fund admin.
Yes I left a SP of 0.46 , back to this by end of Sept.
"The share price is at a 12 month low." It always is.
So no financing being planned, plenty of cash, significant potential for a gold resource upgrade in Kenya with many nearby mines.
The share price is at a 12 month low.
https://twitter.com/proactive_UK/status/1425447925182828545?s=20
Well lets see.
I am pretty sure that a license with 10k of cobalt in it is worth a fair bit more than you are estimating.
DYOR
" Lets suppose that 10k of cobalt in the ground is only worth 1% of market value."
Why don't we suppose, as I suggested, a fraction of 1% and not the full 1% you have assumed. I didn't specify what fraction so you can take it as read that your assumption of $5,434,000 is far greater than I'm thinking. Try knocking the two zeros off the end of that figure and you might be an awful lot closer to where that figure should be. IMO even then that's probably being a tad optimistic.
TDT
Following on from my last post, the transaction in the 1st March 2021 RNS may not have been wonderful for HELPFUL's high net worth clients. By the way Helpful's company is bespoke capital solutions limited.
Extract from 1st March RRR rns:
"The Company has paid US$1,000,000 of the US$2,500,000 payment obligation by paying US$1,000,000 in cash and Kansai has elected to receive the balance of $1,500,000 in the form of an issue of 101,550,000 new Ordinary Shares of 0.01p in the Company ("Shares" and "Share Payment") at a price of 1.05 pence per Share to Kansai.
The Issue of Shares for the Share Payment is conditional on the approval of Red Rock shareholders.
Kansai has agreed to sell 52,437,048 Shares to be issued under the Share Payment to a number of substantial private investors in a transaction arranged by Bespoke Capital Solutions Limited"
Well now we can communicate TDT.
Lets suppose you are pretty much right on your first point re cobalt. Lets suppose that 10k of cobalt in the ground is only worth 1% of market value. 10,000 tonnes x $54,340 = $543,400,000: 1% of that is $5,434,000. RRR's current market cap is only around £7mil. This is the point with RRR, it doesn't take much to make a material difference. Drilling is continuing and as the company has indicated, it is looking to step out the drilling ie., they think the resource is larger. Separately, the company has indicated the the resource extends in the neighbouring block and that there is the possibility of a JV.
On the copper deeper down, it is a bit more than a hope. I posted a technical paper re cobalt in DRC and the geology they are seeing replicates the accepted model.
https://www.sciencedirect.com/science/article/pii/S2300396019301065
The cobalt tends to be shallower and the copper tends to be deeper in the form of sulphides. Anyway, we should know a bit more in the next two weeks when they have done a bit more drilling.
DYOR
that Red Rock Resources do sometimes arrange loans with poster HELPFUL's company. So because you would think he would like to again do business with Red Rock then it's clearly in his own interests to suck up to Bell + always paint Red Rock with a rosey picture.
Todays trades bear the hallmarks of a tip off about something. We've seen it before; many times.
Somebody has seen the light today. How can anybody honestly believe there is an upside to this vapourware? Same old nonsense but without a different outcome. All those that have already lost half since buying recently must be asking themselves some serious questions as to their investment decision skills.
Just bought some more, absolute gift. Migori is worth more than the market cap..
https://twitter.com/RRR_RedRock/status/1425374465664421891?s=19
https://twitter.com/RRR_RedRock/status/1425375096089292806?s=19
Migori is not exploration drilling, it is about doing the drilling necessary to improve the JORC and to make the asset more attractive to a partner or buyer.
It won't take much to significantly improve what we have.
Given the experience elsewhere it is likely that we can move to JORC north of 1mil ounces.
DYOR
https://twitter.com/RRR_RedRock/status/1425343754559500290?s=19
https://twitter.com/JunoMinerals/status/1425287577133740034?s=19
Brings the royalty payments a step closer.
DYOR