Member Info for magic_slon

Something rarely discussed about Molaoi is the possibility that the old mine waste from the 1980s could still hold significant value. When the mine was operating, the focus was purely on zinc, lead and silver. Elements such as germanium and gallium simply were not analysed or recovered back then as they had no commercial use or price incentive.

Today both metals are classed by the EU as strategic and critical, with prices that are 10 to 40 times higher than they were four decades ago. That means the old tailings and waste dumps left around the historic workings might still contain measurable levels of Ge and Ga, and possibly some residual zinc and silver as well.

If ongoing studies confirm this, Rockfire could potentially benefit from a secondary resource stream by reprocessing old waste material with modern technology. Such projects are now encouraged under the EU Critical Raw Materials Act, which supports recovery of strategic elements from legacy mine sites.

This angle could become an unexpected upside for Rockfire, not just mining the remaining orebody underground but also reclaiming metals that were literally discarded 40 years ago. It is a low cost and low risk way to add value and one more reason why Molaoi stands out among AIM juniors.

Many are unaware how little of the original Molaoi deposit was ever mined. Historical data from the Greek Geological Institute confirms that operations in the early 1980s lasted barely three years and extracted only a tiny portion of the system – roughly 150–250 thousand tonnes of ore. That’s less than 2% of today’s defined JORC resource (15 Mt).

Old workings went down only about 120–150 metres, leaving the deeper and western extensions completely untouched. Recent drilling by Rockfire shows continuous mineralisation below and beyond those historical levels, with grades often matching or exceeding the historic 6–11% Zn.

In fact, just four of the 18 mapped veins currently make up 87% of the JORC resource, meaning most of the system still awaits full definition. Rockfire’s drillholes confirm that several untested veins contain visible sphalerite and galena, and new pXRF readings even returned up to 18.7% Zn – further supporting the view that the mine was never truly exhausted.

What makes this new phase even more interesting is the presence of Germanium and Gallium – strategic metals that were not even considered 40 years ago. Early lab results from the University of Patras (2025) indicate meaningful concentrations in the zinc ore, potentially adding 25–30% to the project’s total metal value if recovery is confirmed.

In short, Molaoi isn’t a case of trying to “re-drill the past”. It’s about unlocking what was left behind – now with far better technology, higher metal prices, access to EU critical-metal incentives and the benefit of a brownfield footprint.

At current levels, the market still prices ROCK as if the orebody were unproven, when in reality it’s one of the few AIM projects with a known, mined, and still open system sitting within the European Union.

Many overlook that Rockfire’s Molaoi project in southern Greece was a fully producing underground zinc-lead-silver mine in the early 1980s. Historical records from the Greek Geological Institute show average grades between 6–11% Zn, 1–3% Pb and 20–60 g/t Ag across several kilometres of strike. The mine closed due to low metal prices at the time, not because the ore ran out.

Fast forward four decades – Rockfire has re-entered the area and confirmed the same high-grade mineralisation in every new drillhole to date. The current JORC resource sits at 15 Mt @ 7.26% Zn, 1.75% Pb and 39.5 g/t Ag, but this covers only a small portion of the known system. Historical workings extend far beyond the current block model, leaving strong room for expansion.

What’s new this time is the discovery of germanium and gallium within the zinc-bearing zones – both critical metals for semiconductors, optics and defence. Early university studies (Patras, 2025) confirmed elevated Ge and Ga levels in concentrate samples, suggesting potential to add 25–30% to the project’s metal value if recoverable.

With roads, power and underground access already in place, Molaoi is not a greenfield gamble but a brownfield opportunity in the EU with critical-metal credentials. At a market cap of barely £10 million, the stock trades well below the in-ground value of its base metals alone, leaving substantial leverage to upcoming assays, metallurgy and resource growth.

This looks like one of the few AIM juniors with a genuine chance to deliver a European-based critical-metals mine in the next cycle.

Just to clear up some confusion : the 245 g/t Au figure from today’s RNS isn’t a typo. It comes from micro-scale analysis (LA-ICP-MS) of individual pyrite crystals, not from a bulk assay.

That means it’s a spot measurement, showing that gold exists within the pyrite, but it doesn’t represent an overall ore grade. In other words, it’s scientifically interesting, not economically proven (yet).

It does support the idea that gold may occur as a trace by-product, which could add value if future metallurgical testing confirms recoverability.

Promising signs, but as always, we’ll need to see the met test results before factoring it into any project economics.

This company holds immense value in its proven resources, with significant untapped potential still undiscovered. Despite this, the current market capitalization is absurdly undervalued.

Correction:

- Plateau (Australia, 25% owned): 250,000oz Au at $3,356.07/oz, ROCK’s 25% share is worth ~£15.3–22.9m.

Dear LSE Investors,

Rockfire Resources (ROCK), a small-cap exploration company, holds transformative potential through its Copperhead project in Queensland, Australia, and a strong portfolio including Molaoi (Greece), Plateau, Lighthouse, and Marengo (Australia). With copper at ~$9,635/t (July 2025), a major Copperhead discovery, combined with a developed Molaoi, could significantly lift ROCK’s share price. Here’s a clear breakdown.

Ovelooked but massive potential for The Big Prize:

- Copperhead, a copper porphyry project, has a JORC resource (2022) of 64Mt at 0.19% CuEq (120,000t copper equivalent: 80,000t Cu, 9,000t Mo, 1.1Moz Ag). Mineralisation from surface to 400m suggests low-cost open-pit mining. Drilling indicates expansion potential beyond 500m. A “home run” (300–500Mt at 0.3–0.5% CuEq) could yield an in-ground value of ~$8–12bn. After costs and risks, the project’s value might be £500m–£1.5bn. With ROCK’s market cap at ~£4.55m (0.11p/share, 4.13bn shares), this could drive the share price to 6–12p, or 15–25p in a takeover (e.g., by BHP, akin to Racecourse’s 25–30p valuation). A smaller discovery (100–200Mt) could push shares to 2–5p in 2–3 years.

Portfolio Valuation:

- Molaoi (Greece, 100% owned): A zinc-germanium project with 15Mt at 7.26% Zn, 1.75% Pb, 39.5g/t Ag, and 105,000kg Ge (JORC). New drilling (Feb 2025) suggests doubled resources. At the exploration stage, it’s worth £50–100m, based on comparable zinc projects (e.g., Neves-Corvo). If fully developed (post-feasibility, permitted, and producing), Molaoi could be valued at £500m–£1bn, given its high-grade zinc and critical germanium (used in semiconductors, priced at ~$1,500/kg).

- Plateau (Australia, 25% owned): A gold project with Sunshine Metals, showing high-grade results (e.g., 8m @ 3.17g/t Au). Assuming 250,000oz Au at $2,400/oz, ROCK’s 25% share is worth ~£11.5–17.25m.

- Lighthouse & Marengo (Australia, 100% owned): Early-stage gold-copper projects with limited drilling data. Their speculative value is ~£5–10m combined.

Total Portfolio Value: Copperhead (£500m–£1.5bn in a home-run), Molaoi (£500m–£1bn if developed), Plateau (£11.5–17.25m), and Lighthouse/Marengo (£5–10m) suggest a combined potential of £1.016bn–£2.527bn. Conservatively, the portfolio could justify a market cap of £150–400m, implying 3.6–9.7p/share.

Key Catalysts:

- Drilling: High-grade results at Copperhead or Molaoi resource growth could spark rallies.

- Takeovers: Large deposits attract majors, making ROCK a target.

- Commodity Prices: Rising copper, zinc, or germanium prices boost value.

- Location: Copperhead’s 250km proximity to Townsville’s smelter cuts costs.

If Copperhead proves a tier-1 deposit and Molaoi is developed, ROCK’s share price could hit 6–12p, or 15–25p in a takeover. The full portfolio supports 3.6–9.7p conservatively.

Wishing everyone the best of luck! Keep taking a

Great to see Rockfire firing on all cylinders this week.

The AGM results are in, all resolutions passed with strong support, showing shareholder confidence in the board and the direction of the company. This includes the authority to issue shares and progress financing options if needed.

Even more encouraging is the Molaoi project update. The team has completed detailed 3D modelling and re-logged thousands of data points from historic drill core. The results speak volumes:

- Over 85 samples showing >5% zinc, with some as high as 41% zinc

- Significant lead and silver mineralisation alongside the zinc

- A clear plan for infill drilling to push the resource into JORC Indicated status

- And don’t forget – Molaoi could be Europe’s only germanium-yielding zinc project

Once permits come through, Rockfire will be well-positioned to prove up this asset further and potentially unlock real value.

The groundwork being laid now is critical for long-term upside. Smart, methodical progress with plenty of newsflow ahead. One to keep a close eye on.

Rockfire Resources is holding its AGM today (27 June 2025), and it could offer some useful insights into the company’s direction for the rest of the year.

Just wanted to share a quick view on where I think ROCK stands, based on the latest drilling and resource updates. There's been a lot of price frustration lately, but from a fundamentals point of view, this looks more like a classic “undervalued with pending catalysts” setup than a write-off.

The latest JORC update now gives Rockfire a 15Mt Inferred Resource at 7.2% Zn, 1.75% Pb, and 39.5g/t Ag, making Molaoi one of the highest-grade undeveloped zinc projects in Europe. That’s already a sizeable base, but what many might overlook is that this figure only covers about 25–30% of the known mineralised strike.

Historical drilling from the Greek Geological Institute and geophysics show up to 4.5 km of mineralised corridor, and we’ve drilled just 2.5 km of that so far. In short, we’re not near the finish line; we’re barely out of the starting blocks.

From a valuation point of view, this doesn’t seem to be reflected in the share price. With a market cap around £4 million, you’re getting a potentially huge project for next to nothing. If this was a more advanced company with a feasibility study, the value could be much higher, possibly in the £100–200 million range once developed. Even if only part of that is realised, it’s still a big gap from where we are now. On a fully diluted basis, that could imply 2–4p fair value today, and 6p+ longer term, subject to project derisking and further drilling.

Yes, funding is a concern. Yes, we’ll need a PFS. But that’s true of every junior explorer. The difference here is we already have a JORC-compliant resource of decent size and exceptional grade, plus strong metal prices and EU demand for critical minerals.

Also worth noting: the stock is currently trading near all-time lows (~0.09p), which prices in a lot of risk already. It’s basically a free option on future development or a JV.

In my view, near-term rerate potential comes from:

- Further drilling to expand resource size and improve classification (to Indicated)

- Potential offtake or JV interest from zinc/lead buyers or EU-aligned funds

- Updated studies (scoping/PFS) showing the economics stack up

To be clear: it’s still early, and this isn’t without risk. But with grade, scale, and upside all in the mix, I’m happy to hold and accumulate at these levels. If the team can deliver on even half of what’s on the table, we won’t be sitting at a £4m valuation for long.

GLA – and as always, DYOR.

Https://www.reuters.com/business/autos-transportation/some-european-auto-supplier-plants-shut-down-after-chinas-rare-earth-curbs-2025-06-04/

Some really interesting news out today. China’s decision to restrict rare earth exports is already starting to bite, with several European auto parts factories now shutting down. Big names like BMW and Mercedes are being hit, and this is just the start. Supply chains are looking very shaky.

Rockfire’s main project, Molaoi in Greece, contains zinc, lead, silver and germanium. All of these are listed as critical minerals by both the EU and UK. Germanium is especially important right now. It’s used in fibre optics, solar panels and military tech, and China controls most of the world’s supply.

This is where Molaoi becomes interesting. It’s one of the highest grade undeveloped zinc projects in Europe and it includes a decent amount of germanium. In a world where countries are desperate to reduce their dependence on Chinese supply, Rockfire is sitting on a project in the heart of Europe that could become strategically valuable.

The company is still at the development stage so this isn’t a short term play. But if they keep moving forward with drilling, permitting and maybe even securing interest from potential partners or buyers, it’s not hard to imagine sentiment improving.

We’ve already seen how markets respond when companies are seen as part of the solution to the supply chain crisis. Lynas in Australia is a good example of that.

This news from China is another reminder of how quickly things can change in the critical minerals space. Rockfire might not be on many people’s radar right now, but in the current environment, that could change.

Curious to hear what others think, especially around the value of germanium in their resource. Are we overlooking something here?

DYOR as always

The recent article doesn’t bring anything new to the table, it just confirms well-known facts that most of us are already aware of. However, it highlights a hidden gem that has been overlooked by many so far. It’s a great time to accumulate more and build a solid position.

@Tiger16, there's no need to post about this every day. If you're confident in your investment and believe in its potential, sometimes it's better to step back and let the story develop naturally. We'll all see the results when the price action begins to reflect the fundamentals.

I’m quite happy with the price at this level for now. Every time it dips a penny, I can add a few more shares to my holding. We know what we’re sitting on, and this is the time to build our position.

I’m not very long in trading, but it’s been a few years now, and I’ve learned from my mistakes. The biggest lesson? Patience — and not trying to chase the next multi-bagger too soon.

I was holding a few great ones for months, only to sell just before they took off… EEE, KOD, FAR, ORR. Left just days or weeks before the boom because I lost faith.

Not this time.

Autocorrect… I opened another ISA somewhere else.

I'm using Trading212 for my ISA, but buying ROCK is limited. I could only spend £400, and further transactions weren't allowed due to the volatility of the stock. After that, I opened another ISA for someone else.

“China announces it will restrict exports of 7 rare earth metals critical for high-tech industries, including samarium, terbium, and lutetium.

China controls nearly 70% of global rare earth production.“

Following the recent earthquake activity in Greece, I reached out to Rockfire Resources for clarification. I received a prompt and reassuring response from David, who confirmed that the tremors around Santorini have had no impact on their operations, and fieldwork is continuing as usual. His words reassured me that the recent price drop is merely a shakeout of the weak hands.

His exact response was:

‘Thank you for your email and your concern for our people and project in Greece. I am pleased to inform you that the earthquake tremors around Santorini have not impacted our operations. Our field work continues unabated. I appreciate your email.’

Encouraging to see business as usual—stay strong!

It looks like the infamous “X” pumping team, headed by Mr.“M.” has been at it again. Their leader has likely already feasted on the panic buying and left the scraps for his hyenas, who are now scrambling to gather the remains.

For those caught in the frenzy, I sincerely hope you’re able to recover from the situation. Let’s not fall victim to these tactics again. Hopefully, next week will bring some stability to the share price, and we can start focusing on slowly building real, sustainable value in the company.

Let this serve as a reminder: always do your own research and be wary of sudden spikes that seem too good to be true. Patience and strategy will always outperform short-term greed.

I wonder how low it can go… I expect massive sell of after board meeting and special dividend at 08.08. Let's hope our ‘SPAC’ will merge/acquire some great prospects. So far 75% down on this one, I'm not selling, but I hope to buy more at the discounted price. I hope to have more clarification of the direction we’re going after the meeting.