RE: Broke?31 Jan 2024 06:34
Banbury in my last post i sloppily put all the things together that i thought should have been promptly RNS'd because they to me looked price sensitive events.
From the Red Rock 2020 Final results RNS here is the RRR coal extracts and dates. I cannot see Red Rock RNS's around the below dates that make those announcements and to me that looks price sensitive news because if Red Rock had RNS'd the below news then i have no doubt it would have affected the RRR share price.
From 2020 final results RNS
"On 11 April 2019, the Company's 100% owned subsidiary, RRR Coal Ltd, agreed a loan facility of up to US$1.0 million with Riverfort Global Opportunities PCC Ltd and YA II PN Ltd. The terms of the loan call for US$0.400 million to be transferred to the borrower, with additional tranches available to the Company at the lenders' absolute discretion. The notes are secured by 5,500,000 shares in Jupiter Mines Ltd, which were transferred from the Company to the borrowers as well as by a corporate guarantee executed by Red Rock Resources Plc. The Notes carry an interest rate of 10% and come with a 7.5% implementation fee and are repayable over a period ending in April 2020.
On 21 January 2020, the Company's 100% owned subsidiary, RRR Coal Ltd, agreed a final drawdown from the loan facility of up to US$1.0 million with Riverfort Global Opportunities PCC Ltd and YA II PN Ltd of a gross amount of US$0.2 million. The notes remained secured by 5,500,000 shares of Jupiter Mines Ltd, as well as by a corporate guarantee executed by Red Rock Resources Plc. The notes carry an interest rate of 10% and this drawdown carried an implementation fee of US$7,000. All outstanding amounts from all previous drawdowns including this drawdown were refinanced and now became repayable in equal instalments from April 2020 to January 2021.
After the year-end, on 6 November 2020, the Company's 100% owned subsidiary, RRR Coal Ltd, refinanced its existing loan facility with Riverfort Global Opportunities PCC Ltd and YA II PN Ltd, increasing the total amount available for draw-down to US$2.0 million, and drawing down an initial gross amount of US$1.0 million with additional tranches available at the lenders' absolute discretion. The notes are secured on 6,302,000 shares in Jupiter Mines Ltd as well as 20,000,000 shares in Power Metal Resources Plc, which were transferred from the Company to an escrow account for the duration of the loan, as well as by a corporate guarantee executed by Red Rock Resources Plc. The notes carry an interest rate of 10% and come with a 7.5% implementation fee and are repayable over a six-month period starting in June 2021. "