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Hello Vini. To be honest I think the best thing for RRR shareholders would be to quickly remove Bell and Kaintz from their positions at RRR. My opinion is Kaintz and Bell are the reason many PIs wouldnt invest in RRR and so why would shareholders want to keep them when they are holding back the share price?
Says the multi alias, blatant ramper, Vini.
for the newer RRR shareholders but from my observations many seasoned AIM investors will no longer invest in an Andrew Bell run company: they just don't rate him or his sidekicks abilities. Still at it I see. You must be paid well to keep this up for years.
Don't these loans have a high interest rate? I'm guessing some of the repayments are only covering the interest
Reports states that as at 30th Dec 2017 the liabilities were �5.3m which is up from the �4.8m as at 30 June 2017. Not sure why but I had assumed the liabilities would have been partly paid down rather than increased in that period. On 20th Sept RRR made its first repayment towards the Steelmin loan of $507,156 The company also raised �1m via CLNs to pay down the Steelmin loan and also received $279,945 from the Jupiter buy back and also raised �125,000 via a placing How then have the liabilities gone up to �5.3m instead of being reduced? What have I missed?
Half year report just out states: "In the event the IPO and listing were to proceed" Seems to suggest to me that nothing is guaranteed in this respect.
"we expect to report a full year profit for the year ending 30 June 2018, for the first time since 2011. When these matters are reviewed for the full year audit, the status of our projects will be considered, and the possibility of writing back some previous impairments as well as of any need for further impairments will be considered." profit for full year, is he alluding to the migori gold project which has 1.2 Moz jorc resource...
for the newer RRR shareholders but from my observations many seasoned AIM investors will no longer invest in an Andrew Bell run company: they just don't rate him or his sidekicks abilities. RRR have a small investment in Bell's other company RGM and its pretty shambolic how that's being run (in my opinion). I say that because since December 2016 (so around 16 months) the bosses at RGM have had around �6 million (that's through placings, CLNs, warrants, selling HHDL shares) but its pretty much all been squandered (apart from a few Curzon energy shares + maybe some ALBA shares) . I think RGM is a good example of how quickly Bell and Kaintz can squander an huge amount of money. So I wouldn't be surprised if the present money at RRR also gets quickly squandered.
Payroll costs up again. What a surprise.
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RRR/13580245.html Great results..
Why is the rns not showing on lse I Got this news alert from my bank
Total assets rose to 23m, increase again. Doesnt take into acc the expected cash balance in h2. Results will get even better...
The Tshipi Borwa mine is the largest single South African manganese mine and one of the largest, longest life and lowest cost manganese exporters globally. It sold 3.3 million tons of manganese ore in the year to February 2018. With a Prospectus for a relisting on the Australian Stock Exchange now having been published by Jupiter, Red Rock expects to receive in April approximately A$1,842,400 net in respect of its sale at IPO price of 20% of its stake in Jupiter. With current strong manganese prices, and a 70% dividend payout policy having been adopted by Jupiter, there is a reasonable expectation of a larger distribution by Jupiter later in 2018. In April or May 2018 the Company is due to be repaid approximately $840,000 on a Promissory Note in respect of its gold interests in Colombia. Red Rock therefore anticipates ending the year to 30 June 2018 in a strong financial position. Red Rock will continue to pursue with the authorities an early resolution in relation to the title to its Kenyan gold assets and tailings, and continues due diligence in relation to copper and gold tailings in the Democratic Republic of Congo with the due diligence period now extended until further notice from the previous longstop date of 16 March 2018. This tailings project looks promising and would be a significant investment for the Company if it proceeded, but any project in the DRC requires thorough due diligence and ours is not complete. Its other interests have taken a lower priority so far, but will be addressed in the coming period. Finally, the Company emphasises that it will retain its current low cost structure and will deploy its cash resources with great care, seeking high returns in liquid assets while keeping a margin of safety. Andrew Bell Chairman 26 March 2018
On 21 February 2018 Red Rock announced that, after eight months, the Steelmin loan of �4,314,688.68 had been repaid and that, after repayment by Red Rock of $3,000,899 to the funders of the back to back arrangement, Red Rock was left with a cash balance from the loan repayment amounting to �976,525.46 and US$912,457.90. Some of this represented interest income in excess of interest paid, and some a realised gain from a currency exposure that the Company had consciously left unhedged. Since the Steelmin loan repayment had been a bullet repayment by them of the whole facility at the end of the initial term, and since Red Rock had made some repayments of principal to its own lenders from September 2017 onwards, some of the Red Rock cash balances following repayment also represented the differential in principal payments. The effect of the repayment to Red Rock and unwinding of the back to back loan has been to reduce the receivables and eliminate the short-term borrowings of the Company at the same time as boosting the cash holdings. For the first time for a long time the Company has a substantial net current asset position, in a transformed balance sheet. As a result of the Steelmin transaction the Company now holds a 22% stake in a ferrosilicon plant in Bosnia that is anticipated to start production shortly, as well as healthy cash balances. The Company's 1.2% investment in Jupiter Mines Limited ("Jupiter"), a private Australian company with a 49.9% interest in Tshipi � Ntle, owner of the Tshipi Borwa open pit manganese mine in South Africa, is also having a significant impact on the Company's current performance. Since year end the Company has received $501,419.36 as a further distribution by Jupiter, after an approximately �233,606 distribution in November 2017.
26/03/18 07:19:40 News Alert for Red Rock Resources ORD 0.1P. RNS Number : 8372I Red Rock Resources plc 26 March 2018 26 March 2018 Red Rock Resources plc Unaudited half-yearly results for the six months ended 31 December 2017 Red Rock Resources plc ("Red Rock" or "the Company"), the natural resource investment and development company with interests in manganese, gold, ferrosilicon, and other materials, announces its half-yearly results for the six months ended 31 December 2017. Chairman's Statement In the six-month period ending 31 December 2017 the loss before tax from continuing operations was �114,874 compared with a profit of �147,662 in the comparable period of the previous year. This was primarily as a result of the reversal into losses of the foreign exchange gains made on dollar items in that year, that had resulted from the significant decline in sterling in late 2016. Loss before tax from continuing operations for the full year ended 30 June 2017 was �1,114,213 reflecting a total impairment of the Company's investment in Greenland exploration. Revenues in the current half year are encouraging, and provided there are no further impairment provisions, we expect to report a full year profit for the year ending 30 June 2018, for the first time since 2011. When these matters are reviewed for the full year audit, the status of our projects will be considered, and the possibility of writing back some previous impairments as well as of any need for further impairments will be considered. The consolidated statement of financial position at 31 December 2017 shows an increase in total assets of 31.1%. to �22,278,471 from the level at 30 June 2017. Total equity shows an increase of 39.3% from the 30 June 2017 level to �16,971,223 at 31 December 2017, reflecting our setting a valuation on our holding in Steelmin Limited.. These improving revenue and balance sheet trends look likely to continue up to, and beyond, the financial year end in June. This underlying pattern of incremental improvement, that has been mentioned in the last few annual and interim reports, is the first matter to which we would draw attention. The second is that the balance sheet as presented in the interims has already been superseded, almost to the point of irrelevance. It was a 'pre-Steelmin' balance sheet, and we are now in a 'post-Steelmin' era at Red Rock. On 21 February 2018 Red Rock announced that, after eight months, the Steelmin loan of �4,314,688.68 had been repaid and that, after repayment by Red Rock of $3,000,899 to the funders of the back to back arrangement, Red Rock was left with a cash balance from the loan repayment amounting to �976,525.46 and US$912,457.90. Some of this represented interest income in excess of interest paid, and some a realised gain from a currency exposure that the Company had consciously left unhedge
I don't think you can really berate someone for failing to address the positives when you're equally as guilty in failing to address the negatives. And if you're suggesting that the warrants are in any way a positive.. well sorry, but I've never been involved in a share where warrants issued at a discount to the current share price have not had a dampening effect on the share price until they are fully exercised. Sure, there will be a capital injection from the exercising, but the mere existence of the warrants puts off potential new investors (savvy, well-researched ones anyway) because: a) the company's demonstrated willingness to issue discount-priced warrants during fund raising suggests they will do so again in the future (thus diluting existing holders further) b) the MMs will be able to hold the share price at current levels (if not drop it), knowing that they can expect a willing seller to keep them supplied with shares if buyers come in.
Some of his post are not factual but misleading. He bangs on about warrants but fails to address the positives. Why would someone post everyday on stock which he has no interest in? He clearly has an agenda...
A more relevant question is not why someone posts endlessly (and factually) about a stock, but why that bothers you. Because clearly it does.
Its seems you have made your mind, you dont like this company, so why post consistently on this stock. I could understand if you were shorting this stock but you cant short this stock. Why troll a board for years? Do you have nightmares about rrr?
It's equally for individuals to do DD on how the company operates, how the BOD act, how they treat shareholders, how they utilise available monies, whether they dilute shareholders and to what extent, whether they deliver shareholder value, whether the company makes a profit or loss. But all of that is history and track record, the things you call the past and foolishly choose to ignore. That is why the markets value the share as they do and not the way you do. I have no problem with you taking this bizarre stance but you can't expect the many more experienced investors here to ignore the past as they know it is vitally important here.
Shoat creek, dont give monkeys about the past. I think you are in the wrong place, the stock market values future potential, its for individual to do dd to find out if their is potential. If you actually want to wait for production figures of steelmin, then you shouldnt be investing on aim. If you read last results you can see that it stated possibility of liquidating steelmin asset. I know in the past offers have been made.. Stick to isas mate..
Your other key problem is that you are trying to convince people of speculative future values rather than real actual values now. So when you say things like : "receive $3m royalty from para in next few years" You're working on hoped/expected forecasts rather than actual RNS'd production rates and quarterly revenues. The actuals that have been RNS'd are dire and wouldn't see that $3m paid for a ridiculous number of years. "22% of steelmin which is expected to make ebitda eur 10m per annum" More future expectations hopes and dreams. The actual situation is that Steelmin are not yet even producing ! It will be some time before we get any production figures. Why on earth should anyone accept your ramping valuations ? Why shouldn't they wait and see what actual production is achieved ? Even then, given there is no royalty in place where is RRR going to get any revenue from Steelmin? We would have to wait until they are in a position where they can pay dividends or until RRR is able to sell its share of this private company. Little different to Jupiter except that after many years, Tshipi IS now throwing off cash to its shareholders. If people had valued Shoats Creek using your rose tinted forward looking valuations instead of actuals then they would be greatly disappointed with what happened. Show me your numbers based only on actuals now
no you spouting the usual drivel about warrants, the warrants are immaterial at these levels all the way to 3.2p imho. I dont really care about the past, rrr has some exciting projects, the future is why im here. The cobalt asset will be huge!!! $87k per ton. That is excellent.
All you did there was repeat the same old nonsense that you've been spouting endlessly. For someone who claims to have confidence you seem utterly desperate to oppose any factual information posted with these sound bites and half information pieces. It can all be summarised thus: The markets, meaning the City, the brokers, the institutional investors, the fund managers, and presumably many thousands of punters are valuing this stock currently at �5m-�6m. They MUST have reasons for that. Maestro, believes they are all wrong. All of them. They are all missing something that only Maestro can see. Good luck to you. Cash in the bank here means very little to me personally. I know that much of it goes to Admin and expenses, indeed �644k of it last year went on Admin. Much of it goes on projects that fail to deliver value. How much was expended on Shoats Creek? What actual revenue was generated from it? Very little. How many millions sunk into El Limon before it was effectively (imo) given away for a pittance? How many millions sunk into Greenland? What revenue has been generated? How about Texan Oil? Cloud Computing? Candy Sweets? Elephant Oil? Where does all the available cash go? Certainly not into shareholder's pockets ! Not even the Jupiter hand-outs have gone into shareholder's pockets. Are you going to continue to ignore these basic facts? If so, pointless debating further.
edit: Company will receive $750k +5% interest from para on by 1st april and by the 18th April the company will have over �3.5m+ in bank. So over 70% of mkt cap is cash and 1.5m mkt cap will value the whole assets of RRR. 18m+ shares in Jupiter which are valued at 40c minimum per share own 22% of steelmin which is expected to make ebitda eur 10m per annum receive $3m royalty from para in next few years. Reinstatement of migori asset worth �10m+ Cobalt asset which will be worth MILIONS!!!! Magic you need to get a calculator out.