Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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coffercups if you read the agreement of the loan in june 2017, you will see that they can extend the loan by 8 months, so its nothing sinister, what it does it that it can increase our share upto 30% and increase interest payments to us. With the investments they have they certainly can be valued at over 3p
Kindly taken from the excellent ADVFN thread that Noirua maintains. So yes it's been a hard slog and awful for existing shareholders to see 22p-0.6p but these assets are ripe and reaching the point that they will create immense value for holders buying in now, The 'none holders' who bought at 20p will say otherwise, they bought and sold at a massive loss and they just do not want to see this recover, that would invalidate their reason for selling and prove them wrong.
Melville Bay Limited, Iron Ore Project, Greenland - In consideration for funding the 2012 exploration programme of North Atlantic Mining Associates Limited (�NAMA�), the Company earned 60% interest in Melville Bay Limited (�MBL�). The Company does not have control over MBL but has joint control along with North Atlantic Mining Associates Limited and International Media Projects Ltd through a contractual joint venture arrangement making MBL a jointly controlled entity. The book value of MBL has been fully written off in the financial year to June 30 2017. See Page 51 of the Annual report. Https://www.rrrplc.com/wp-content/uploads/2017/12/20171212_RRR_AR_FINAL.pdf
Noirua 16 Aug '17 - 16:46 0 1 0 Charts Intraday chart. Click to open a chart window 6 Month chart. Click to open a chart window Fundamental Data Name Red Rock Sector MINING Mkt.Sector AMQ1 Mkt.Segment ASQ1 Turnover - Profit -1.11 Norm EPS -0.24 PE Ratio - Market cap 4.74 NMS - News 22/01/2018 09:19 UKREG Red Rock Resources plc Jupiter Mines - Further Buy-Back 18/01/2018 07:00 UKREG Red Rock Resources plc Update on Steelmin 03/01/2018 07:15 RNSNON Red Rock Resources plc Align Research coverage initiation 03/01/2018 07:00 UKREG Red Rock Resources plc Holding(s) in Company RED ROCK RESOURCES PLC Company Website: Http://www.rrrplc.com The Company�s issued share capital consists of 499,042,740 Ordinary Shares of 0.01p each with voting rights. No Ordinary Shares are held in treasury. Shareholder information including share options and warrants: Https://www.rrrplc.com/investors/shareholder-information/overview/ Red Rock Resources Website Https://www.rrrplc.com/ News: Https://www.rrrplc.com/investors/regulatory-news/ El Limon gold mine - ongoing disposal The operations were sold to Para Resources of Canada in 2015. Total consideration was US$5M with up to US$3M in gold royalty payments. As of January 2018 US$2.97m remains unpaid as well as a loan of US$750K plus interest due for repayment by 1st April 2018. The royalties are to be paid on gold production. Earned in 2017 RRR approximately - 253.1oz x US$1,270 an oz Au x 0.03 (3%) = US$9,700 (actual production): Http://pararesourcesinc.com/para-announces-update-production-el-limon-mine/ Earned in 2018 RRR approximately 6,250oz x US$1,250 an oz Au x 0.03 (3%) = US$227,000* Earned In 2019 RRR approximately 10,850oz x US$1,250 an oz Au x 0.03 (3%) = US$401,000* * Estimated by Red Rock in December 2017. Further royalties at 3% totalling US$2.35 million approx. are due from 2020 onwards. Payments are made quarterly in arrears. Para Resources Announces That Production at El Limon Has Recommenced on 15 November 2017 Http://pararesourcesinc.com/para-resources-announces-production-el-limon-recommenced/ ----- JUPITER MINES Limited - RED ROCK RESOURCES PLC holds 24.6 million shares (1.19%) and a 0.75% royalty over all iron ore produced at Jupiter's Mount Ida prospect in Western Australia:Company website: Jupiter Mining - index - Http://www.jupitermines.com/ Jupiter Mines at ADVFN: https://uk.advfn.com/cmn/fbb/thread.php3?id=28201926 Jupiter hold a 49.9% interest in Tshipi � NTLE. The Kalahari Manganese Basin is estimated to contain approximately 80% of the world�s known economic manganese reserves; Tshipi � Ntl - Http://www.tshipi.co.za/ Pallinghurst Co-Investors have an 86% interest in Jupiter Mines Limited JMS Pallinghurst Resources - Http://www.pallinghurst.com/ Pallinghurst Co-Investors - Http://www.pallinghurst.com/pallinghurst-co-investors Manganese Ore Index: Http:/
KOLWEZI in the DEMOCRATIC REPUBLIC of CONGO Trip to Kolwesi - https://twitter.com/JBrewerMining/status/897972945901015041 Red Rock Resources Plc, has entered into a conditional agreement with Cobalt Blue Limited, to acquire an interest in a Joint Venture company to be newly formed for the exploitation of four or five copper/cobalt tailings. Cobalt Blue is an Isle of Man vehicle created by the interests of 1620 Capital Pty Ltd of Perth and Exchange Minerals. Some 50% of cobalt demand is now estimated to come from the rechargeable battery sector. The increased demand for electric vehicles and greater use of cobalt in lithium batteries is widely expected to lead to higher cobalt demand, and this expectation has since 2016 been reflected in rising cobalt prices. Half or more of known cobalt reserves are in the DRC, and a similar proportion of cobalt production (66,000 of 123,000 tons in 2016) comes from the DRC. The DRC has historically been an important source of copper, and recent discoveries suggest that its importance may increase, Copper is currently seeing rising demand and prices including an increase in demand from the electric car industry. VUP holds exploration licenses 9687 (covering Kalemba) and 9684 (covering Kamirombe), with the right to proceed to a production license upon completion of feasibility, from La G�n�rale des Carri�res et des Mines SA, a DRC State body. The transaction is subject to satisfactory due diligence, which is expected to cover technical, infrastructural, and legal matters as well as political and other risk factors and the availability of funding on satisfactory terms to finance mineral development in the DRC. The Agreement provides that should the Project not commercially match the estimates provided by VUP (approximately 22m tons containing 375,000 metric tons of contained copper and 35,000 metric tons of contained cobalt, citing G�camines records up to 1999), then the Luilu tailings (estimated similarly by VUP at 50m tons) will be added to the Project. A 0.4% NSR Royalty equivalent is payable to COB, and upon commencement of commercial production, RRR will have the right within sixty days to terminate this obligation by paying $1m as a royalty termination fee. Cobalt Prices - 1 year - Http://www.infomine.com/investment/metal-prices/cobalt/1-year/ Cobalt Prices - 5 years - Http://www.infomine.com/investment/metal-prices/cobalt/5-year/ Kolwezi Updates 3rd November 2017 - The Company has carried out drilling on the first two tailings, Haute Kalemba and Basse Kalemba, and deliveries of samples have been made to the SGS laboratories in Lubumbashi for testwork. Work continues with a view to testing the other tailings locations.
IVORY COAST GOLD PROJECT - R�publique de C�te d'Ivoire - Birimian Greenstone Belt Red Rock has entered into an agreement to carry out gold and manganese exploration across three licenses in the highly prospective Birimian greenstone belt in the Ivory Coast - a country that is being touted as the next frontier for gold exploration in West Africa. On 18 September 2014, Red Rock announced it had purchased the rights to three gold exploration licences and four additional pending exploration permits in Ivory Coast through the acquisition of Nemex Resources CI SARL and Barclay Resources SARL. Https://www.rrrplc.com/projects-and-investments/gold/ivory-coast-gold-project/ Https://www.rrrplc.com/wp-content/uploads/2017/02/Abengourou.jpeg
ELEPHANT OIL Limited - Benin Http://www.elephant-oil.com/ - Http://www.elephant-oil.com/location.html Http://www.elephant-oil.com/location.html Location, prospects and Leads - Https://twitter.com/mlofgran Red Rock entered into an agreement with Elephant Oil limited in July 2015 where it exercised its option to invest �275,000 for a 4.76% stake in Elephant Oil and has also been given the right to invest a further �412,500 on the same terms for the subsequent six months. Preparations are underway for new 2D seismic acquisition Https://www.rrrplc.com/projects-and-investments/oil-and-gas/elephant-oil-ltd/ https://pbs.twimg.com/media/DNnm2diXcAAIGrE.jpg Mat Lofgram - https://twitter.com/mlofgran
GOLDSTONE RESOURCES Limited GRL - 4,963,986 shares - 4.85% & 3,857,400 GRL warrants with an exercise price of 5p and a life of two years until July 2018. Company Website Http://www.goldstoneresources.com GRL is an exploration company with exploration skills that focus on West and Central Africa. The assets include the Homase and Akrokerri projects to the East and North of AngloGold Ashanti's Obuasi mine in the Ashanti Gold Belt in Ghana. These projects have a JORC Mineral Resource of 602,000 oz of gold at 1.77 g/t. Other licenses are held in Gabon and Senegal. 06/02/2017 - Https://polaris.brighterir.com/public/red_rock_resources/news/rns/story/ow0gozx
Migori Gold Project - RRR: 75% Project Interest Maiden high-grade Resource declared at West Kenya Project - Feb 2017. Acacia announces a maiden NI 43-101 compliant Inferred Mineral Resource Estimate of 1.31 million ounces of gold at 12.1 grams per tonne on the Liranda Corridor within the Company�s West Kenya Project. Https://twitter.com/RRR_RedRock Maiden high-grade Resource declared at West Kenya Project Http://www.acaciamining.com/media/press-releases/2017/2017-02-27.aspx Https://www.rrrplc.com/projects-and-investments/gold/migori-gold-project/ Kenya bordering Tansania - Https://www.rrrplc.com/wp-content/uploads/2017/02/Kenya-map.jpeg Mid-Migori Mining Company - Http://www.miningbmw.com/quarry/9908.html British firm raises cash for Migori gold exploration - January 2014 Http://www.businessdailyafrica.com/British-firm-raises-cash-for-Migori-gold-exploration/-/539552/2136420/-/8y3qlaz/-/index.html May 2015 - Migori gold miner wins first round in case against Balala Http://www.businessdailyafrica.com/corporate/Migori-gold-miner-wins-first-round-in-case-against-Balala/539550-2730460-12anj4tz/index.html Mid Migori Mining Company Limited - The Company owns 15% of the issued share capital of Mid Migori Mining Company Limited (�MMM�). The Company has entered into an agreement whereby it manages and funds a number of MMM�s development projects and has representation on the MMM board. 16/01/2018 - Meetings were held with Hon Daniel Kazungu, Cabinet Secretary for Mining, Nairobi and Chairman Andrew Bell of Red Rock Resources PLC.
Shoats Creek - Https://polaris.brighterir.com/public/red_rock_resources/news/rns/story/xo6v3mx Mayan Energy Limited (AIM:MYN) ("Operator") announcement Shoats Creek Field in Beauregard Parish, Louisiana ("Shoats Creek"). Red Rock has a 20% working interest in the Lutcher Moore ("LM")20 well and certain other wells within in the field. Http://www.beauregarddailynews.net/news Http://www.drillingedge.com/louisiana/beauregard-parish Shoats Creek video: Https://vimeo.com/157943833?utm_source=email&utm_medium=vimeo-cliptranscode-201504&utm_campaign=29220 21/07/2017 - -- Red Rock Resources plc - Shoats Creek Update Https://uk.advfn.com/stock-market/london/red-rock-RRR/share-news/Red-Rock-Resources-plc-Shoats-Creek-Update/75283505 Shoats Creek is Mayan�s [MYN] highest priority upstream project due to the significant number of low risk, low cost initiatives identified by management as having the potential to add significant production and value. Mayan�s confidence in Shoats Creek�s company-making credentials was strengthened with the successful drilling of LM #20. Following positive testing periods, management is planning to bring additional existing wells back online following low cost modernisation initiatives. Http://mayanenergy.co.uk/upstream/shoats-creek/ 06/09/2017 - -- Operations to restore continuous production to the Lutcher Moore #20 well have been completed and successful with a 24-hour test yielding 123 barrels of oil. Https://uk.advfn.com/stock-market/london/mayan-MYN/share-news/Mayan-Energy-Limited-Operations-Update-and-Issue-o/75586184
STEELMIN Limited - Initial FeSi Production Targeted for Q1 2018 and finance agreement FerroSiliconHttps://www.**********.co.uk/rns/announcement/26102011/?source=twitter Steelmin Loan - Red Rock is borrowing $4,230,750 from a group of Investors in a 12 month secured promissory note ( Loan note to Steelmin is �3,874,560 ). 20/09/2017 - Red Rock has now made its first repayment of $507,156 to the Investors. **** 18/01/2018 - Red Rock Resources Plc, on 23 June and 3 July 2017, Steelmin Limited, a company Red Rock financed so that it could complete the refurbishment and recommissioning of a ferro-silicon smelter in Jajce, Bosnia, has signed a Structuring and Placing Agreement with a Luxembourg investment vehicle under which Steelmin intends to repay in full the loan amounts outstanding to Red Rock. The Agreement provides for a new Steelmin note to be placed with investing funds on a best efforts basis with a target issuance date of end January 2018. The Note proceeds would be used primarily for repayment in full of the Red Rock Loan, with some used for plant completion. **** Following Loan repayment Red Rock would be left with a diluted 21% of the share capital of Steelmin, which would increase to 22% on 1 February 2018 should the Loan not be repaid by that time. **** On the basis that the Agreement, which is subject to some rights of withdrawal by the lender, completes, and on the basis of current exchange rates, we would be left with a net positive balance of some GB�1.8m on the back to back facility after repayment of all amounts due to and from Red Rock. We would also have a 21-22% shareholding in Steelmin. Seven months after the initial investment by us in Steelmin, this would be a positive outcome. https://uk.advfn.com/stock-market/london/red-rock-RRR/share-news/Red-Rock-Resources-plc-Update-on-Steelmin/76497070 Https://polaris.brighterir.com/public/red_rock_resources/news/rns/story/xzoyo7r Website Http://www.steelmin.com
Jupiter Mines Limited - Iron Ore 03/01/2008 High Grade Iron Ore at Mount Mason - Https://www.youtube.com/watch?v=A745fdur93c Grades in 2008 from 60%Fe to 63.84%Fe - Measured and Indicated - 5.9 million tonnes at 60.1% Iron Ore interest at Mount IDA Progress at both of Jupiter�s Western Australia projects was slowed by low iron ore prices. Mt Ida, in which Red Rock retains a 0.75% production royalty, has a JORC Inferred Mineral Resource Estimate of 1.85bn tonnes at 29.48% Fe. This and the Direct Shipping Ore project at Mt. Mason are on care and maintenance. Https://www.rrrplc.com/projects-and-investments/steel-feed/jupiter-mines/ **** Mount IDA and Mount Mason: The favourable iron ore price and exchange rates means a review of these projects is warranted. Iron ore exporters at Western Australian ports are running low on ore. Mt Mason and Mt Ida can provide immediate production and long term resources."
JUPITER MINES Limited - RED ROCK RESOURCES PLC holds 24.6 million shares (1.19%) and a 0.75% royalty over all iron ore produced at Jupiter's Mount Ida prospect in Western Australia:Company website: Jupiter Mining - index - Http://www.jupitermines.com/ Jupiter Mines at ADVFN: https://uk.advfn.com/cmn/fbb/thread.php3?id=28201926 Jupiter hold a 49.9% interest in Tshipi � NTLE. The Kalahari Manganese Basin is estimated to contain approximately 80% of the world�s known economic manganese reserves; Tshipi � Ntl - Http://www.tshipi.co.za/ Pallinghurst Co-Investors have an 86% interest in Jupiter Mines Limited JMS Pallinghurst Resources - Http://www.pallinghurst.com/ Pallinghurst Co-Investors - Http://www.pallinghurst.com/pallinghurst-co-investors Manganese Ore Index: Http://www.jupitermines.com/projects/tshipi/manganese_ore_index.phtml Http://www.jupitermines.com/images/jupiter---eigeagelei.png Recent News: 13/07/2017 Tshipi now the Largest Exporter of Manganese from South Africa - Http://www.jupitermines.com/images/jupiter---daequoomou.pdf 21/12/2017 Proposed ASX Listing - Http://www.jupitermines.com/images/jupiter---aizuangier.pdf **** Further to the announcements of 13 March 2017 and 16 November 2017, in which Red Rock announced payments of distributions by Jupiter Mines Ltd JMS, an Australian unlisted public company, of GB�537,131 and approximately GB�233,606 respectively, JMS has announced the details of a further planned US$42m distribution to shareholders, of which Red Rock's share at current exchange rates would be approximately AU$504,000 (GB�364,000). Payment is expected on 19 March 2018.
El Limon gold mine - ongoing disposal The operations were sold to Para Resources of Canada in 2015. Total consideration was US$5M with up to US$3M in gold royalty payments. As of January 2018 US$2.97m remains unpaid as well as a loan of US$750K plus interest due for repayment by 1st April 2018. The royalties are to be paid on gold production. Earned in 2017 RRR approximately - 253.1oz x US$1,270 an oz Au x 0.03 (3%) = US$9,700 (actual production): Http://pararesourcesinc.com/para-announces-update-production-el-limon-mine/ Earned in 2018 RRR approximately 6,250oz x US$1,250 an oz Au x 0.03 (3%) = US$227,000* Earned In 2019 RRR approximately 10,850oz x US$1,250 an oz Au x 0.03 (3%) = US$401,000* * Estimated by Red Rock in December 2017. Further royalties at 3% totalling US$2.35 million approx. are due from 2020 onwards. Payments are made quarterly in arrears. Para Resources Announces That Production at El Limon Has Recommenced on 15 November 2017 Http://pararesourcesinc.com/para-resources-announces-production-el-limon-recommenced/
Sorry Magic all I can suggest in reply like I mentioned earlier is to please ring nursey, tell her you are ranting against RRR and she may find you some Carbamazepine tablets. Good lad, don't worry she will be there soon.
i think GraphiteTech has got it right, quite a few purchased over 10p a share and are disappointed with the board. The value of Jupiter Mines has 4 folded as a result of commodity prices increasing, currently jupiter are buying back shares at 44c a share.. At 1p there is value, certainly 4p is achievable in 2018.
Roll on Wednesday then......
GT - "The list goes on" Sadly it's 99% a totally speculative list rather than actual, and that's why the SP is where It is, that's why the markets seldom value the company as a sum of its parts, imo. Steelmin ISN'T producing at this point so of little use and it owes Euro6.8m to RRR and other funders. RRR's target for production start has moved now from Jan to March. I'd happily put a pair of old underpants on standby and wager that come March production won't have started or if it does there won't be any decent production figures reported until months after. If I'm wrong I'll eat them. Like Shoats Creek I reckon the Steelmin project will drag on and on. The Jupiter shares will imo always be there as a core enticing asset. AB will not imo sell those shares, so their value, whilst real won't be realised as cash imo. Happy for you to believe otherwise but history tends to support my viewpoint here. Hand-out from Jupiter is circa �364k yep. Sadly the Admin and Exploration Expenses run at �686k per annum according to last Annual Report. El Limon royalties have been meaningless. Last reported ACTUAL quarterly figure was just over $5k which at that rate means it will take near 100 years to recoup just the first $2m of that $3m royalty. Not worth your time and effort trying to ramp TBH. Cobalt project would require a cash payment of $700,000 and �490,000 payable in RRR shares ("Shares") at 0.65 pence a share, with attached 5 for 3 three year warrants plus commitment by RRR to fund $1.2m of exploration expenditure over 18 months. That's dilution and a lot of cash required. And like all company apologists and rampers you conveniently neglect to highlight that RRR requested and was granted authority to issue up to 500m more shares here this year (as per last AGM resolutions). Smart approach would be to see if Steelmin actually do repay the loan and go from there.
Points you have not covered are; Significant directors buys in the market at and around this level. Significant stakes being taken by major investors who have an history of success. Stealmin progress in both the development of their plant and the likely return of cash from the loan next week with a significant net cash upside to RRR. 22% of Stealmin that is likely to produce e$7-10m EBITDA in the coming years. 24m Jupiter MInes shares which when the IPO completes will be worth liquid c�10m. Dividend coming from Jupiter. Royalties from El-Limon. Cobalt play in the DRC that is at advanced DD stage with the above cash influx likely to fund and develop. Meeting with Kenyan mines minister the other week. The list goes on. So no you haven't missed anything if you concentrate on the bile and hatred the 'ex-wives' club who frequent this board bang on about 24/7. Not bad for sub �5m mcap. I expect �20m in 2018 at least. Magic shove that somewhere the sun sun doesn't shine which I guess is everywhere you are......
50% of posters bought above 10p years ago and hate the company and want it to fail whilst dwelling on the past. 50% of posters can see the future and read RNSs of late that when you piece them together you can see a massive undervalue situation. Make your own choice and DYOR.
coffeecups - "looking at buying in for next week's news " Not sure what news you are hoping for but I'm personally under no allusions as to what "news" is likely to appear. RRR often states its hopes, anticipations and expectations but they seldom come about imo. For instance as recently as 20th Sept RRR made its first payment of the $4.4m YA loan saying: "We EXPECT significant dividend and royalty inflows in the remainder of calendar 2017 to enable us to continue paying down our loan after this first substantial payment" (my caps) I guess those dividends/royalties didn't make the cut because just a few weeks later we got . . . 10th Nov - RRR raises �495k via CLNs with warrants to pay down the loan (tranche 1) 12th Dec - RRR raises �215k via CLNs with warrants to pay down the loan (tranche 2) 14th Dec - RRR raises �290k via CLNs with warrants to pay down the loan (tranche 3) 21st Dec - RRR raises �125k via a placing of 15.6m shares with 1 for 2 warrants So much for expectations then ! Another example of hopes and expectations is the change in target dates for Steelmin production which I highlighted earlier: RNS 10th Nov stated that production was expected Jan 2018. RNS 18th Jan now states Steelmin forecasts first production in March 2018 Like I said, there's really only one kind of news I am expecting but happy for others to hold contrary view points.
OK so new to this stock..looking at buying in for next week's news .. from reading this board it appears to be a 50/50 recovery play. Ab is not generally liked or trusted .. previous poor record of generating profits..... Cash burn is high for running a small office and fat Directors and takes care of most of the income to date ? Fair assessment? Any new points I've missed not covered in the last 15 pages on here ?
Read the RNSs. What is the point of speculation if you haven't even got your head around the basic information in the RNSs.
It is all very well stating the likes of Magic have been right over the past few years, that is very true, mainly due to the commodity cycle and particular low values for base metals which in the main the company invested in. The schemes they invested in had also in the main been in the mining cycle that was in the lull prior to production. That being the case it was fairly easy to be right that the share price would be on a falling trajectory. However that is now not the case, the long lead investments that have been much derided are reaching a point of return/fruition yet the 'ex-wives club' who bemoan and troll this company do not want that to happen. They cannot stand it when the share price goes up and would prefer this company to fail than succeed. They will be saying the same thing over and over again at 2p, 3p and so on.
Had about 49 per cent of el limon.production figures were pitiful compared to projections.sold at a loss and still waiting for payment. Maybe steelmin will be different ,however history is not good.ref limon,ascot,shoats creek,rgm coal etc.beware counting chickens.jms buybacks also can only taken as single events.good as they are they will stop if jms becomes unprofitable.no guarantees beyond the next payment.but all in all a better situation than 2 or 3 years ago.no need for another consolidation lol.good luck all genuine punters,ignoring historic failures of a company is a catastrophic way to invest ,but recovery stocks do exist.maybe rrr is one .we will see but common sense is needed.