Member Info for Helpful

https://twitter.com/BusInsiderSSA/status/1106501415285989376?s=19

https://www.proactiveinvestors.co.uk/companies/news/42010/red-rock-resources-sees-mixed-outcome-from-mt-ida-suspension-50095.html

https://twitter.com/DavidLenigas/status/1106816797532147712?s=19

The same considerations apply to Mt Mason and Mt Ida.

1.2bn tonnes of iron ore. RRR has a 0.75% royalty valued at zero.

DYOR

As I said
https://twitter.com/DavidLenigas/status/1106822458991091712?s=19

https://twitter.com/kirillklip/status/1106694352418603011?s=19

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.ifrs.org/-/media/feature/supporting-implementation/ifrs-13/education-ifrs-13-eng.pdf&ved=2ahUKEwihyaWK0oThAhWUURUIHUkhCp0QFjAAegQIARAB&usg=AOvVaw12XpieOehxiNRU0DkUe2Z4

https://twitter.com/ETCommodities/status/1106519979057385472?s=19

You were the investment genius that was betting the house and your pension on RRR when they were making those losses not me. What you are demonstrating is that you didn't know what you were doing then and you don't know what you are talking about now.

For the technical, some of those losses are assets written down in the books and the write down is taken to the revenue account. Some of those losses get written back into the account such as JMS and, when the licenses are confirmed as being issued, Migori. The write back on Migori is about £8.5mil, as I posted yesterday. So when Migori is written back up it will result in a positive P&L account but have no effect on the cash position; the same but inverse was the case when it was written down.

At some point JMS will be fully written back, Elephant Oil will be written back, as will the El Limon Royalty. Once Steelmin is sorted then its true position will be reflected in the books.

About the only thing that is in write offs that will stay written off is Greenland ( your favourite investment of all time and they one that you told everyone would make them a fortune): shoats creek has been written off but that was only about £170k.

Now presumably when DRC, JMS, Elephant Oil, Migori and Steelmin are all written back up and it results in a large declared profit you will be applauding as loud as anyone? Won't you?

Elephant Oil looks like it might be a bit of a monster in the making. People should really listen to the Brian Larkin interview and take on board what he said about other oil & gas companies being in for taking a piece of the action with Elephant Oil.

As always listen to nothing said on here but do go and do your own research.

DYOR

PS I have only ever made money out of RRR so maybe I am a bit better at this game than you are.

https://seekingalpha.com/article/4249019-dr-copper-bull-phase-now

"Elephant Oil are preparing to drill the Allada Structure and seeking farm-in partners to support their efforts"

So the volumetric analysis for Allada says 115 million barrels of oil in place. It looks like the seismic will be to firm up on Allada and then make a drill decision. If NUOG take up their option then the drill is happening. The money from UOG will help them but won't fund 80% of say a £3mil drill. Either Elephant lists and raises some money or it farms its position down further.

DYOR

DYOR

Investor conference call on Monday. They will probably touch on Benin/Elephant Oil: it might be worth listening.

Note that the January 2018 report from Align indicated that there was a possible IPO being lined up for Elephant Oil. Once the seismic is out of the way and UOG have exercised their option it looks likely that Elephant Oil will look to IPO.

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/UOG/13996455.html

At this point, the Block B licence data is limited to a single seismic line and a CGG-acquired airborne Falcon Gravity Gradiometer survey. This data suggests the presence of numerous large structures in the licence, with the potential to hold >200mmbbls. The Allada structure has already been identified by Elephant Oil as a prospect.

If United chooses to exercise the option, then the Company will farm into the PSC for a 20% interest and will be responsible to fund 30% of the non-drilling and 20% of the drilling costs in the Phase 1 work programme as approved under the PSC. United would also pay Elephant the sum of US$260,000, representing one quarter of the pro rata (20%) past costs expended by Elephant on the prospect, with the remaining US$780,000 paid in three equal six monthly instalments

Try doing the look through analysis on what is said in that RNS. They already know that there is oil in block because to the North there is Mamu oil tar sands. This where the reservoir rock comes to surface and the volatile hydrocarbons have evaporated off.

http://www.pveconsulting.co.uk/images/Benin%20Block%20B%20flier%20Aug2017.pdf

As always do some research.

DYOR

https://twitter.com/AmberMining/status/1106556170104434689

The Trolls keep going on about what might or might not have happened 5, 6, 7 years ago. What matters is what is happening now and likely to happen in the future.

The reason for posting the links about Migori is to show what the carrying value was in the books at the time the legal bust up started and what a 3rd party thought that it might be worth. The carry cost was about £8.5mil and the 3rd party thought that it might be worth £8.9mil ie., not significantly out of line which each other. RRR now owns 100% and my view is that Migori is worth about £10mil once we get the license back.

The legal settlement as agreed on the basis that a new license would be issued. The old licenses could not be issued because the Mining Act 2016 in Kenya superceded all previous legislation: all extant mining licenses have had to be reissued under the Mining Act 2016.

Those licenses coming should be procedural; check out the Mining Act for further information (I think it is section 56 that applies).

Para Resources

Gold Road is up and running, it has produced its first gold dore, its target is 3,000 of gold per month and expects to be at capacity Q3 19. El Limon is up and running, it has been delayed.Consequently, tle local small producers that were going to put their output through the mill have gone elsewhere. Para is now securing alternative supplies to meet its throughput targets.

We have CAD$500k in Para shares plus warrants plus about US$3mil outstanding in a royalty on El Limon.

Elephant Oil is now live and has a value again: see the UOG announcement. If you listen to the CEO of UOG he says they will be proceeding with taking up their option in due course. That will mean that Elephant Oil can proceed with it's work programme.

JMS covers the market capitalisation of RRR

Then we have the DRC, the diamond deal in Botswana, Steelmin and the royalty on Mount Ida and Mount Mason.

All of that for circa £4mil.

PS don't forget the counter argument,,,, bbbbbbuuuttt Andrew Bell.

In due course the value will come through.

DYOR

"Some £8.5mln was carried in Red Rock’s books for Kenya-related items, the company said, and impairments to this value are expected at year end if there is no rapid and positive outcome in Kenya"

https://www.proactiveinvestors.co.uk/companies/news/68755/red-rock-resources-mid-migoris-kenyan-licences-have-been-terminated-80071.html

https://www.proactiveinvestors.co.uk/companies/news/12271/red-rock-resources-completes-acquisition-of-mid-migori-mining-stake-with-final-tranche-of-shares-15058.html

DYOR

"The simple average Enterprise Value per ounce figure of £13.67 from our two comparables thus suggests a valuation of £8.9 million for Red Rock’s interest in the Migori Gold Project".

http://www.alignresearch.co.uk/cpt-company/red-rock-resources/

From January 2018. Gold is a lot higher now, so are the prices of gold companies and RRR now owns 100%.

DYOR

Interesting.

The sensible thing would to agree a succession plan with AB and get him to work with them on securing a replacement.

Unlike you I know PG, have had telephone conference calls with him and regularly swap emails. I know exactly what his thoughts are on RRR and AB.

As I said watch this space.. we might have something interesting for you to explain away pretty soon.

DYOR

I will be very happy if this turns out to be true.

https://twitter.com/ThorMining/status/1106154302786015232?s=19

As I said..

https://twitter.com/AmberMining/status/1106163342299811842?s=19

This is a bulletin board, people link relevant bits of information.

RRR has very valuable copper and cobalt assets in DRC. It also has a stake in ABM which has confirmed it is going ahead with a cobalt and copper project in DRC.

I negotiated the CLN deal and the rollover: I am happy with the terms, there is no downside.

Greenland was a long time ago before I invested and so I give zero stuffs about it. Shoats Creek was a mess up but the amount involved de minimis. Steelmin cost RRR nothing, in fact it made a profit on the deal: I expect Steelmin to be sorted shortly.

You invested at the wrong time and lost your money but so what? I have only ever made money on RRR. I expect the next bit of news to be incoming shortly and it will ruin your day.

DYOR