Member Info for MrMagic

When the article mentions Start-ups it means companies like Conamix:

https://www.technologyreview.com/the-download/611518/a-freshly-funded-battery-startup-aims-to-ease-the-cobalt-crunch/

"A freshly funded battery startup aims to ease the cobalt crunch"

"Conamix, a little-known startup based in Ithaca, New York, has raised several million dollars to accelerate its development of cobalt-free materials for lithium-ion batteries, the latest sign that companies are eager to find
alternatives to the increasingly rare and expensive metal."

"Conamix is developing cobalt-free electrode materials that would work in existing manufacturing processes. The company didn't reveal the funding amount, but Bloomberg put the Series A round at $2 million. "

In the end, electric car manufacturers just don't want Cobalt. Hence the significant efforts to develop cobalt-free batteries. By the time RRR dig up anything significant the battery world will have moved on and eliminated cobalt from batteries. Still, worth a ramp meantime eh??

lol Helpful

Would that be the very same Tesla that has drastically reduced the level of Cobalt in its batteries and which is busily developing Cobalt Free batteries . . . .?

https://www.theverge.com/2018/6/21/17488626/elon-musk-cobalt-electric-vehicle-battery-science

"Elon Musk tweeted that batteries for the Tesla Model 3 use less than 3 percent of an expensive chemical called cobalt, and the next generation battery “will use none” of the material that some have called the “blood diamond of batteries.”

"Cobalt is a key component of batteries. It’s also the most expensive material in the battery and mined under conditions that often violate human rights. As a result, scientists and startups are rushing to create a cobalt-free battery."

Still no comment from the resident "experts" about what that Steelmin debt is that was mentioned in the Half Year report.

"We do not have high expectations here, and have written off our equity and a portion of debt amounting to £256,510.56"

A "portion" of the debt is £256k. So how much is it in total?

Over to the experts . . .

isdeer - "yet more confetti issued"

It can't come as a surprise isdeer. The BOD made their intentions patently clear at the AGM where they requested authority to issue up to a further 400m shares in 2019. This is clearly just the start.

The Half Year report highlighted that there was just £27k in cash (at end Dec) but that there were still £2.7m of current liabilities and of course money is needed for the projects and to fund the lavish expenditure of circa £850,000 on Admin Expenses every year ! Dilution is therefore inevitable imo.

Next support is at 0.4p looking at the 3yr chart. DYOR.

Funny how these people always appear out of the woodwork when there is a fundraise.

Company has just issued 63m pieces of confetti at 0.51p. A discount of some 10% to prevailing SP at the time.

Each to their own but I most certainly won't be buying any shares at or above 0.51p. I would consider that extremely foolish. It would serve to give the placees who are diluting everyone a simple quick flip profit at my expense. No thanks !!! If you feed the placees they will just come back again and again to feed at the dilution trough and the SP will get trashed as has been the case for years here.

There will undoubtedly be more confetti to come imo. Issuing confetti is what this BOD do and have done for the last 7 years. This placing has raised a mere £323k which is peanuts in reality.

The Annual Report highlighted that this BOD get through c£850,000 a year just on ADMIN expenses.

The Half Year report highlighted that there was just £27k in cash (at end Dec) but that there were still £2.7m of current liabilities !

Small wonder then that the BOD requested and was granted authority to issue up to 400m shares this year.

With that kind of dilution the SP only going one way imo. Next support line is at 0.4p levels if you check the 3yr chart.

The presence of "jam tomorrow", "I know something you don't" stock promoters on the boards is sadly inevitable in these situations. They will doubtless be the placees looking for mugpunters to hand their cheap shares onto imo.

Buy, hold or sell but definitely DYOR

Just realised a post of mine on Monday was incorrect and had mixed up the RGM fundraise with the RRR one.

I stated incorrectly that RRR's fundraise was : "for a "strategic review of operations"

That's what the RGM fundraise was for. The RRR fundraise was done so the company can :

"manage its cash flow prudently while driving an increased tempo of exploration in the Congo "

Apologies for any confusion.

TDT, yep makes sense.

Always makes me chuckle when these pundits do this. The rampsters jump on it and say "wow, large investor here must be confident !!!"

Well if he were confident he'd have bought shares on the open market at prevailing price, and that would have helped boost the SP. It might also have allowed PG to dump more of his holding.

Instead what we have is someone saying "Yeah, I'll have some shares, but only if I get a healthy discount to the current share price" !

What was it? About a 10% discount or so? Same old.

The share finishes today 4.55% down.

Let's see if I have this straight. We have a holdings RNS dated today 30th April at 07:00am i.e. before the markets are open.

It says CRT increased his holding from 8% to 16% and now has 108m shares. It states the date of the threshold crossing was also today 30th April. That's an increase of some 50m shares yet there are no such trades showing.

I guess therefore that we must assume that CRT is the recipient of the recent placing shares at 0.51p yes?

But those shares were issued 23rd April, a week ago so how come the threshold date is being given as 30th?

lol Slapper

Strange that you don't complain about Helpful's endless posting of Twitter links regarding copper. . . . .

Jog on fella, foolin no-one

Sorry but how do a measly 6 buys totalling £2k equate to a rise of 18% ???

Looks like a sleight of hand to me. I certainly won't be falling for it. With authority granted to issue up to 2 billion shares here, SP is only going one way imo. DYOR.

It's curious isn't it Zumore . . .

The company requested and was granted authority to issue up to 400m more shares here this year and as we have just seen the dilution has already begun with the issue of 63m shares to raise just £323k, shares being issued at 0.51p. Doubtful imo that anyone would buy shares at or above 0.51p as a result, I mean why give placees a quick flip profit at your expense?! Pointless. SP pretty much always drops to a placing price and often further.

So the SP will imo be held back for the foreseeable and added to that is the fact that large 13% investor Peter Gyllenhammar has been steadily dumping his holding. He has posted 3 Holding RNSs so far selling in chunks and has just under 50m shares still to go if he is selling the lot.

https://www.investegate.co.uk/red-rock-resources--rrr-/rns/holding-s--in-company/201904121610131058W/

So 63m placing shares and potentially 50m PG shares to be soaked up by market mugpunters if any can be found. to buy them.

Given the last Annual Report stated that this BOD burn through c£850,000 a year just on Admin Expenses you can't really see £323k going far ! Aside from which the RNS stated that the money will just be used for a "strategic review of operations" !

Where is the shareholder value?

DYOR

Slapper - "not lost anything yet"

lol. Well if you sell now you'll likely be able to buy back in much cheaper imo. With support at 0.6p gone the next support is down at 0.4p levels. See chart here:

http://oi68.tinypic.com/35mlety.jpg

DYOR

Rampers still keeping very schtum on this one.

From Half Year Report:

"We do not have high expectations here, and have written off our equity and a portion of debt amounting to £256,510.56"

What is this debt?
How much is it in total?
When was the debt acquired?

lol what a character!

Creates a brand new forum account, hops on the board simply to post :

"the letters in my username are banks where I have managed €1bn trading portfolios at each, and have a little bit of an idea what I’m doing"

Really who needs to know that? Who cares what your personal situation is?! Why did you feel the need to tell everyone?

This is a board to discuss the share not one's personal business credentials.

Just comical

DBGSJPM - " I never once said I was awash with cash. The fact I own a $40m Business is beside the point, "

So a $40m business but not awash with cash. Doesn't say much for your business management skills then!

In the end one simply has to ask, why would such a person create a forum account and start posting ?

Same old

From 23rd April

"Red Rock Resources Plc announces that it has raised £323,750 by way of a placing of 63,480,391 new ordinary shares of 0.01 pence each ("Shares") in the Company at a price of 0.51p per Share "

Certainly not worth buying any shares at prices above 0.51p then imo. Why give placees an easy quick flip profit at your expense?

And as others have so rightly said, why haven't you just bought the whole company out?

And for that matter why not RGM too?!

Gosh these people do come and go don't they? Lost count how many high rolling rampsters have tried their luck here and left with their tail between their legs. Personally I don't care if they p*ss their money away, their choice.

Could you help us all DBGSJPM by popping up a link to your holding RNS where you acquired at least 3% of the shares please? I mean a "big roller" like yourself would be messing about with tiddly little buys would you??

Looks pretty red in the trade list . . . understandable imo.

Worth people clicking on the Chart option above and then clicking the 5yr button.

You can see plainly that there was previously support at the 0.6p level but now that has been well and truly broken the next support line is down at the 0.4p level. Not good !

With the confetti machine oiled and churning out the shares the SP is only going one way imo. DYOR.

by the usual suspects here can not deter from the facts of what this BOD do.

In Dec 2014 there were over 2 billion shares in issue and the SP had been decimated (by relentless dilution) down to 0.1p levels which is what the nominal share value was. In order to be able to continue fundraising the BOD did a capital reorganisation to lower that nominal value from 0.1p to 0.01p. That done the dilution continued.

Within the space of just 1 year the SP had been decimated further and there were now over 6 billion shares in issue. At this point the BOD did another capital reorganisation. This time a share consolidation on a 25-1 basis.
As a result the share issue then became 241m.

Here we are today and the confetti issues have continued and we have 676m shares in issue.

It is, imo, just a never-ending pursuit of issuing confetti to raise monies, a huge proportion of which then go towards Admin Expenses/salaries. Most would classify that as a lifestyle AIM outfit. Each to their own. Nothing will ever change here regardless of any project imo, unless and until this BOD is replaced.