Member Info for talkinto

Thanks BB - how long do you think before the 1st raise is absolutely required. Clearly there is intent with the issuance request at the AGM but would you think it is required immediately upon passing at the AGM.

I'm trying to ascertain current burn rate per month as I cannot find much on this in the releases.

Clearly there will also be a large one-off lump for the 200mt purchase and no sale yet agreed but optimistically expecting partial recouping of outlay in March for this.

Simple question to all - given the recent raises, how long can RRR continue without a further raise?

The scenario excludes receiving the illusive/elusive (take your pick) DRC payment which I interpret to be supposedly due in 3 days or less.

It was only a few Fridays ago Helpful was posting FOMO.

Clearly there is absolutely zero belief from bystanders that this payment is days away going into the weekend.

Roll on 7am Monday for a miracle RNS.

BB - I must correct you - we have already exported (sarcasm of course). Extract from RRR release below:

We are currently funding our product pipeline from mine to bonded warehouse in the destination port. The working capital requirement of funding a 2-3 month pipeline before getting paid for product means that we are starting on a modest scale, with 200 tonnes of ore. Once we have established that the pipeline is working efficiently, and that customers trust our product, we shall aim to sell product before arrival at port and so shorten our payment cycle and reduce our working capital requirements.

I have read the above statement multiple times and it really does insinuate the 200mts is an RRR mine to port funded operation and not that RRR acquired 200mt of mined product from a third party.

RRR also quantifies an export as simply driving the cargo they still own across the border and dumping it at a port where they incur ongoing costs.

If I drive a little north into Scotland and leave my tele at my mates house I've essentially completed an export too on that basis - although my export would cost me less than AB's current venture.

I don't expect to see DRC payment before the AGM but I sincerely hope it is days away. I'll not be hanging around for the AGM either way. Clock is ticking...

BB - agree the wasted costs are potentially insignificant in the grand scheme but it just further highlights the lack of ownership on the spending. Why incur it if you really don't need to - just leave the cargo where it is and pick it up once you've secured a buyer surely.

As others have stated, why is RRR not looking to extend the life of the business by cutting down on pointless costs in preference of continually issuing more shares.

I'm no longer worried though as AB has verbally stated the DRC payment will be made in days so I've only got to wait till next Thursday latest for the sun to shine again on this investment apparently.

Given imminent has turned to days then surely the only thing holding this back now is an unprecedented pen and ink shortage.

I'd love to see any charting analysis on RRR if you can find it, or even a 2024 broker note...

DYOR

Just a thought on this quiet morning...

Why did RRR bother sending the trucks to the Port of Beira just to incur port rental if they had no firm plans on shipping cargo until after the Chinese New Year. It seems an ill advised waste of the very little funds RRR has.

If RRR now has access to cargo from a 3rd party, which as they state is cheaper than own production then why not buy it and move it once they've aligned with a buyer in China.

Shipping cargo in containers is nothing new and not difficult at all. Beira is well connected so no need to rush the cargo in.

It may have actually have been cheaper for seller to stuff the container at point of origin too rather than RRR taking on these costs at the Port using port stevedores with profit margins on top. Would be nice for AB to give further clarity on the decision making.

Over 2 months of port rental incurred and counting...money just dribbling out daily until shipped. Why didn't RRR just send the trucks to one of their locations to store it FOC until shipping plans had been sorted to save on port rental?

Helpful - I am a shareholder and would love this share to succeed but the form has been poor and therefore my view reflects this, this is not trolling.

What is your interpretation of AB now stating 'days' away from receiving DRC and will you be buying more at this juncture given days really should mean 7 or less?

Separately, why do you think the market is not pricing RRR as in a 'good place' given they believe they are days away from receiving payments far greater than their current market cap?

(helpful stop reading here...the rest is opinion only)

My view is that 'days' will still be more than 7 and therefore into weeks and likely more than a month so again should not be misleading the investor with such wording given AB has overused the word imminent over a prolonged period already on this matter.

I hope it is days to give me an exit opportunity as I suspect/expect/believe any spike will be very short lived. But if I were to bet it will not arrive before the AGM.

‘Recommendable investment’ – something I believe will make me money short, medium or long term. I note your point on exploration being high risk – with that I would always look for ‘fully funded for year x’ to give me some degree of comfort. RRR provides no such comfort - the share value erosion seems extraordinary even for AIM.

Having seen the quality of RRR’s vague RNS releases and the performance of this company over just 6 short months I no longer believe I will see a positive return on my short term investment. Hence, not recommendable.

I expected the payment on DRC was truly imminent last July to create a short term spike so I invested – I was wrong and will be exiting soon regardless.

Helpful - it is called debate. Why read posts if you're not interested in opinion otherwise why are you here...

My opinion differs from yours and that is fine. However, I am sure we can both agree RRR is presently not a recommendable investment. Share price erosion has been consistent and I am yet to hear the views of anyone in positive territory on this share.

I am simply asking why a long term 'mega trend' in gold prices is relevant to an AIM stock that may not be around in a year without further significant dilution to shareholders.

Ignoring that - As you are an investor looking for a positive return how do you see RRR being funded for 2024?

Finally, if you have a QBA degree what hard data are you reading to see such long term positive futures in RRR given it's history and data provided to date.

Those sorts of insight may provide more meaningful discussion rather than endless link posting without context linking to RRR (my opinion of course :) ).

A 53 year gold chart being spouted as the opportunity of a lifetime...

Helpful - do you really think RRR is going to live long enough to see gold at 10-15,000. I personally don't think anyone on this board will live long enough to see that...even if it does we have no substantial amounts of gold to sell.

If you apply logic that most on this board bashing the state of RRR are 'trolls' then you have to concede under the same logic that you are a blatant ramper.

No matter what new lows RRR hits or how many times they dilute shareholders, you still refuse to agree this company is run poorly and not in the interests of shareholders and that you are currently the odd one out on biased views of RRR.

I'm presently still a holder and would advise anyone considering buying this share to steer well clear. It strongly appears to be a terminally ill dog with very little time left before yet another dilution will be due.

DYOR.

BB - I tend to agree. I was highlighting that if not in containers and moving on the water then it would not be viable to simply store product in a container on a port - Shipping lines do not like equipment (containers) tied up so they place extortionate detention fees (rental) to eliminate this. Therefore RRR must have shipped or are storing the cargo in bulk on the Port which will still be attracting some form of cost - of which they have already advised they are picking up all the costs... the lack of update on this along with continued excuses on DRC is concerning... sad state of affairs when talking about a pathetic 200mt shipment is the only activity likely to flip us a nickel in the coffers short term.

Still preying on a miracle spike to 0.15 before the dog dies...

Port of Beira is well connected for container lines with multiple routes daily/weekly to varying Chinese Ports.

Typical container sailings on this route are 38-48 days with 1-2 days each end required for load and discharge. Factor in another generous 7 days for the initial loading of cargo to container at Beira means it should be any day now given trucks set off for the Port on 15th November. Container storage on port is extortionate after the initial FOC period (normally 3-5 days for small shipments like this) and can run in to the thousands in costs per container per week - the lines set the prices (not the port). Therefore it wouldn't be wise to sit a container at load or destination port if no plans to devan or sell the cargo within a week of arrival.

BB - can we even class the 200mts as 'our' (an RRR) operation... had thought this was acquired from an unknown other to save face on lack of RRR's own resource.

Interestingly, RRR could now have shipped the so called 200mts round the world and back again in containers since the last announcement was made of a truck en-route to a port...

The money for the dog's life support is running out, must be close to pulling the plug and letting AB enjoy well earned retirement ? :)

Thanks BB - I suppose the only small silver lining is that AB continues to dilute himself to keep the leaky ship afloat.

Albeit his salary probably keeps him from losing sleep on this matter.

Would like to see the same broker run the same report today - be an interesting read.

BB - see this link found on broker research tab on RRR investor page:

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

It states Director ownership at 6.8% of which Andrew Bell (Dir) had 5.5%.

I note in Jan 2023 Andrew Bell was listed as having 5.5% in shareholdings which was 6.8% of total Director ownership but as of Jan 24 he is no longer listed under the major shareholders tab. Website in general could do with some attention but this page has been updated as of 02/01/24.

https://www.rrrplc.com/investors/shareholder-information/major-shareholders/

Down over 85% over 5 years

Down over 70% over 1 year

Down over 55% over 6 months

Down over 27% over 1 month

Even Jordan Belfort would struggle to ramp this as a good investment.

The only winners ever here will be short term traders. Bring on a spike before the dog dies...

Give me DRC and share price of 0.15+ so I can exit this dog on a spike :)

Or just give me share price spike of 0.15+ without DRC... I'm not too fussy how it gets there. Preferably before April.

Who cares... RRR has no gold now to sell at these prices?!?!?!

Only thing I care about... When is the 'imminent' DRC money arriving?