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The numbers look good (as forecast) but this is the most positive aspect .....

'The new financial year has started with a strong and stable operational performance'

Remember they do not ramp the company so the above statement looks particularly bullish to me moving forward.

Very encouraging there were buyers towards the close, whilst regulars will know the numbers are ahead of market expectations due to the Trading Update of 22nd April it will be the forward looking statement that matters + subsequent management comment during the presentation timed for 4.30pm tomorrow.

It will be interesting to see how dynamic the growth aspect of the business is, they are very active across various new territories after all.

I still believe, with a fair wind, the shares will end the year in double digits.

Drop looks overdone, the shares will recover, getting harder to buy in size with a few periods of NT only so far this morning.

It seems they do not want to sell buyers many around current levels.

The issue with the junior resource space is there is a small pot of cash with a vast ocean of junior exploration stocks to trade into, the market over the last 3 years has basically wiped out most sector related portfolios, many retail investors are very sore as a result.

The key to attract punters has to be ongoing news-flow, it is essential companies bang the drum regularly backed up by RNS updates.

The new CEO and Exec Chair clearly have contacts, there was some speculation that the Lanstead position could be taken out, that excited the market and the SP rose into the .40p's in April, this is an example of corporate action (or speculation) that would increase value.

ORR has always been poor on market matters, Livesey & Co were, quite frankly, clueless in their early years, I still believe the CFO has no understanding of market affairs, remember the ludicrous interview when he implied Lanstead would hold their shares as it would be in their benefit, absolute nonsense of course, we all knew it.

Under the Exec Chair and new CEO we do have BOD members that are a breath of fresh air, the Exec Chair is fully aligned to shareholders for example. I suspect they will not allow market 'shenanigans' to occur here that happens in other minnows.

In a nutshell we need a buyer or buyers to take out Lanstead selling around 1.3m shares a day on average, that should not be difficult if news-flow, rumour, market chatter and regular media keep investors interested.

News could come at any time from ongoing operations/corporate/legacy assets, the answer is to buy the stock when it is quiet and benefit from the inevitable rise which we all know will come soon enough.

It is obvious that just a modest kick in buyside volume and the share price will motor ahead, the company remains under radar for the vast majority of retail investors, that will change and so will the share price, the next move will be into the 6p/8p range, just wait and see.

Have to say I am surprised there are not more buyers ahead of the results, just two more trading days left !!

There is hardly any stock on offer around current levels, the recent upswing in volume may suggest something more than just exploration results are imminent, project sale remains ongoing, are they closing in on a larger deal.

Current market cap is a mere £3.9m

In this podcast today they refer to the link between Barrack and the new BOD appointment, they also suggest the shares are 'exceptional value' the shares 'must be worth a punt'

From 48 minutes in

https://audioboom.com/posts/8544419-sunday-roast-featuring-charles-archer-long-term-ftse-aim-investor-and-freelance-financial-analys

It does appear there is a great deal of news imminent, potentially 4 RNS's could be forthcoming sooner than later, just listen to the last part of the podcast for confirmation. Then add to the mix the sales process.

Around this time last year the shares were trading around 12p so there is plenty of upside ahead, more-so if shorts are closing out.

Looks a good bet for more gains in the week ahead.

It looks like there are just 100k of shares available at 4p then it moves higher.

One wonders if shorts are making an orderly exit, after all they have had a field day in this sector over the last 3 years, FCM was trading around 15p this time last year.

It is only a matter of time before a major rerate occurs here, hopefully the results statement will be the catalyst, even at 10p a share the company would only be valued at £24m, Cavendish, the broker, put that valuation on the Health & Nutritional business alone.

Buy low sell high, currently this company is undervalued by multiples.

Https://www.outofthegroundpodcast.com/wp-content/uploads/2024/07/24-07-10-OOTG-%E2%80%93-First-Class-Metals-Company-Review-vF-4.pdf

Looks like the market makers are wary of a tranche of buyers coming in at these depressed levels, the wide spread yesterday was designed to deter but if anyone wanted to buy 100k it would have cost 7.5p for 150k they wanted 8.4p, the advertised offer sat at 6.5p.

It is clear there is very little stock on offer at current levels, just one whiff of news on JV discussions (or the Prof going on interview saying they have had approaches) would surge the share price.

The old adage is buy low sell high, that is most definitely the case here, assuming you can get any stock that is.

DYOR etc

My issue is the abysmal performance of the share price and the complete lack of acceptance by the company of same.

Pity the poor souls that bought took the IPO at 10p under 2 years ago or indeed the individuals that took part in the November placing at 6p or even the folks that took the February placing at 4.5p. MS seems to have no interest in the share price at all, happy to dish out shares to any chancer that approaches this company.

For example does MS know how markets work, well let me tell him, the junior space has had it's ar$e shorted out of it, the way these entities close their usually forward sold positions is by demanding shares in the next placing, dolling out shares to anyone at ever lower prices creates an even lower share price.

The company has too many projects and not enough cash, in a nutshell it is a geologists dream but for shareholders it is a unmitigated disaster, something needs to happen to stop the downward spiral, if entities want in they need to buy in the market not approach Sale & Co for easy stock.

If these projects are all so valuable then why are parties not falling over themselves to buy them, its nearly 4 months since the sale process started but nothing material has happened, other juniors have sought JV partners to do the paying but not here. Why?

Out of the stable of POW divestments this is the worst performing, that proves the business model is not working.

They need to deliver.

Totally agree, it was an awful interview, another example that geologists do NOT make good CEO's, never forget the BOD took out £461k in salary & fees last year (link below), no wonder Sale (£232k) is always smiling on interview, never mentions the atrocious share price performance under his tenure.

These soft interviews are pathetic, the only outfit that really grills CEO's is Crux, guess what, the majority of PR outfits linked to the junior space will not allow them through the door, hard demanding questions are NOT allowed you see.

How about salary sacrifice, what about the asset sale programme, why not bring in JV partners etc, etc.

https://ibb.co/P144kPk

Having been a shareholder in Xtract Resources and attended a number of their presentations historically I followed their alluvial gold production from the Manica project in Mozambique which was subbed out to a third party, a Chinese outfit. I recall Colin Bird commenting about grades being patchy and relatively low, the ground being tricky due to clay.

Below are the quarterly production numbers of gold once the relatively small operation was fully set up, all in costs varied wildly but seemed to range from $500oz to $1000oz as an average. I would also add that the numbers below seem to align with production from alluvial gold production as seen in the TV series Gold Rush.

2222 / 1763 / 2,306 / 1,416 / 1,344 /1,370oz

IF RRR and partner can manage a similar scale you could be looking at quarterly revenue of $4.2m (1750oz @ $2400) with costs being $1.4m - leaves a profit of $2.8m to be distributed

Let us assume RRR gets 50% of that quarterly net profit ($1.4m), would equate to $466k per month or £372k

It is hard to know what production will be attained in BF, what the % share will be, however the above numbers are from a similar operation based on alluvial mining.

So maybe, just maybe, something material is about to happen for Red Rock, IF RRR can get £300k/£350k a month from this gold project you are looking at a entirely different market valuation for the company.

To clarify the above is a illustration only (but based on decent research) no advice is intended.

So full year results are approaching, remember these are often made available to 'insiders' before being released, it does make you wonder if a few leaks are occurring hence the increase in volume and rising share price, not the 1st time it has happened.

Shares were trading in the 1.2p region a few months back.

You have to ask yourself what the heck (putting it mildly) the majors and mid caps are doing whilst ORR explore a potential new gold district, these major/mid caps have bulging bank balances like never ever before yet they sit on their hands apparently not interested in such potential.

It really is a strange state of affairs is it not, the potential here is staggering given historic results, no wonder management are buying all they can as the share price is being manipulated by Lanstead and the ever crooked market makers.

As I have implied previously when it is quiet is the time to add, one decent piece of news and you just know the price will surge like it did back in March, to .57p to be precise.

This looks like another PREM situation except VAST's financial liabilities are a fraction of PREM's which have to stand close to $50m (remember the Chinese paid PREM $40m for Lithium they have failed to deliver) PREM is still valued at £30m whereas VAST is circa £1.75m.

The plain fact is with the likes of PREM, VAST plus high profile demises of HZM and RMM the AIM junior mining sector is in a right mess, the writing is on the wall for a whole suite of minnows who are at the last chance saloon.

In respect of VAST's liabilities ($7m?) the creditors cannot get blood from a stone so have no real option other than continue to support by extending the facilities.

The litmus test here is approaching fast.

The only hope of RRR getting DRC cash is the fact that the former JV partner are also due $5m, the strange aspect of all this is why has the former partner been so obstructive in the process historically when they are due a cut.

Like all things associated with this wretched outfit nothing is ever clear, if you ask me Bell looked like a man at the last chance saloon in the interview, does he finally accept the Red Rock personal cash cow is in it's final death throws, he has no-where else to go if RRR fails, if the BF gold project turns out anything like the Zim Lithium experience that will be it .

You can never ever rule anything out on AIM, but come on, what history does Bell have in delivering anything for shareholders except ginormous financial loss and never ending equity dilution. He now avoids all personal contact with investors, no Proactive or Shares Magazine events, at one time you could not keep him away.

For the benefit of doubt I have written off my investment here, suckered in like many others 3 years ago by a podcast where Bell promised the earth to none other than Tom Winnifrith, he reckoned the IPO of NBGC would hit a value of $20m alone by end 2021, as ever he failed to deliver on every aspect of that interview, even Winnifrith lost money and has squealed like a pig ever since about the fact.

Good luck all.

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https://www.youtube.com/watch?v=YbqhsrDqZJY