Member Info for Helpful

Hey, it is a pity that you are one of these people who try to use "Straw Man" arguments.

I have never said that RRR will get billions from Glencore. What I have said is that as part of the process you have to make what is called a "Statement of Claim": it includes a few bits but one of them is the quantum of loss.

The quantum of loss is based on what RRR reckons it has lost by Big G's actions. According to AB we had at Musonoi was circa 400,000 tonnes of Copper and 24k tonnes of cobalt. That is without further drilling. The whole of the licence had not been drilled and there were other targets on the acreage to drill. Also it was also not established how deep the resource went. The neighbouring Big G assets went below 1,000 feet.

In the statement of loss you would also include the loss to RRR shareholders caused by the fund raisings that would have have occurred had RRR not been unlawfully denuded of its three licences.

You multiply it out big boy; copper is about $9,700 per tonne and cobalt is about $28k per tonne.

Big numbers, big boy.

DYOR

Hey Doggie, not my numbers. The FEQ report was from January 2023.

Tray, I know I said you had a room temperature IQ but I was prepared to concede it was in Farenheit but now it is clear that Centigrade should be used.

The commentary was about the valuation put on the NBGC/RRAL asset in the report.

How does the number of RRR shares in issue affect the value of the NBGC/RRAL? The answer for those of us a bit slow on the uptake is that it doesn't. I know you want to big up POW but you are wasting your time here: do it on the POW BB.

Regardless of what RRR paid or what the gold price is now or what RRR intends to do going forward, the report says what it says: it valued NBGC at $13.6m. Since then a number of value drivers have turned up. So the only question to be asked is; if FEQ were to do that valuation of NBGC/RRAL now, with gold at $2,300, the Sunday Creek news and confirmation of the Sunday Creek extension into Kilmore, would the valuation be higher or lower? You can argue all you want but it is just your opinion and whilst you might value your opinion, I don't. One thing that you need to take into account is that FEQ was valuing NBGC/RRAL at an IPO: given current market conditions on ASX, the valuation would likely be much higher even without the Sunday Creek news.

DYOR

On another little run up, currently $2,327.

Https://www.rrrplc.com/wp-content/uploads/2023/01/FEQ-Red-Rock-Resources-19-01-23-Buy-Note.pdf

It was valuing 100% of NBGC/RRAL at $13.6m before gold went from $1,900 to $2,300 and before SXG came out with the Sunday Creek news. What that means is that little or no value was ascribed for the Sunday Creek extension into RRAL's acreage.

DYOR

Yawn!

So you don't want to play let's discuss the assets? Presumably, you still want to play, let's try and scare people with imaginary placings?

Own what Doggie? Want to play a new game, it's called let's discuss the assets.

The company's stated intention was Bilbale production in June, it has now slipped to July. So we are, what three/four weeks away from revenue? As I said, inconvenient.

DYOR

That was the Company's stated intent. It has missed its target. It now says early July. Very inconvenient but not the end of the World. As it stated, there are four work streams that have to be coordinated, everything has to arrive at the same time. In trying to get it sorted, they come up against issues.

DYOR

Doggie, for over two months you posted about a placing here as of yesterday, you were wrong. Own it!

The point is that people don't know what the future holds, things happen. For instance, what happens if we get Bilbale into production on time? What happens if we get an offer for Boulon? Do we get something signed on the Aussie IPO next week? I know far more about the assets and what is happening than you do and I still can't plot out how things will work out. As I have said Bell is in the same boat; RRR has multiple assets in play. When someone is positive, it is called "optionality" but when they are negative, it is called "ifs and buts".

RRR has to take it step by step and play it's cards the best it can. What is clear is that it has to take care to ensure the POW/RRAL deal cost us as low as possible.

Your constant deramping to get the share price down so you can make a couple hundred quid is just a waste of everyone's time.

DYOR

Where is Doggie? 24 hours since the placing and no RNS! What do you reckon? Any chance you were wrong, after how many months of posting about it...?

If is carrying a lot of weight there. Maybe you should read up the difference between a placement, a subscription, a CLN and a loan? Fund raisings at subsidiary level are not placings. Do you think this has not already been discussed?

Tray, you need help. Does your mum know you are posting on here? That is the most childish post on here for a long time and there stiff competition.

News, I have accounts that do T20. Maybe they don't do it for retail customers, I don't know.

News I have accounts that will do T20 but only for buys not sells.

News, when you do T20 you own the shares but don't pay for them for 20 working days: usually a month. When the T20 is up you either pay for the shares or you close out and take a loss/gain as appropriate or you do what used to be called Cash and New but now is called a Rollover. Basically they put the trade through as a new trade, settle the dealing fee and any loss to date but you don't have to fund the full purchase.

So it is a form of gearing. Nil cash day one (except for the dealing fee) but it costs you if you are down on T20.

Thanks

That 24 mil looks to be a rollover and the 2.4mil appears to be someone missing a zero off.

Thanks

Ah Tray, another one with an IQ lower than room temperature who didn't do English Comprehension at school or in the remedial classes.

If something is a fact then you don't need to preface it with "if".

The CLN does not have a Conversion Price, it has a Conversion Clause: "Upon Completion, Red Rock will pay POW the CLN consideration, namely £250,000 to be settled by the issue of 250 Convertible Loan Notes of £1,000 which will be convertible to Shares at the price of any placement of new Shares to raise proceeds of over £200,000 gross to be carried out in the six months after their issue ("Placement"), and in the event no Placement occurs to be redeemed by a cash payment on a date six months after Completion;"

At this stage, no one knows what the conversion price is or will be because it is unknowable.

The 166,666,667 shares are issued at 0.15p: 3x the current SP. The accompanying warrants will have an exercise price of 0.25p: 5x the current share price.

£250,000 after 9 months is in cash or shares at RRR's election. If shares then they use 10 day VWAP. So no one knows at this stage what the 10 VWAP will be in 9 months time. Same with the payments due on meeting the JORC requirements.

This is the opinion bit: for RRR to maximise its position it should ensure no placing in the next 6 months and redeem the CLNs for £250,000: note no mention of a coupon; RRR should make the stage payments in cash, that way no warrants have to be issued.

In reality, RRR has the better half of the deal.

DYOR

Dukey you know nothing. Did you not read what Doggie has been posting for three months or so? The placing was today for 0.03p; did you not see the RNS confirming that Doggie was 100% right in all his predictions? No? Me neither.

News, the First Equity Report and valuation has January 2023 before Southern Cross Gold was making its splash about Sunday Creek and gold was at $1, 900: so what would be the valuation now, less or more?

DYOR