Member Info for zumore

We can look on each Red Rock project or licence like an undecorated empty room. If ever a room were to get decorated that would be a completed project.

Andrew is your decorator. He's been faffing around dawdling along since 2005. You occasionally look into an undecorated room to see what progress Andrews made and you see a little dab of paint in the corner. Totally unexciting.

Andrew occasionally gets more undecorated rooms and he gives you grand designs on how the room will eventually look. A few years pass and you look into the room and you see a little dab of paint in the corner. Totally unexciting.

Eventually nobody takes any notice of Andrew. They have heard it all before.

Red Rock Chairman Andrew Bell comments :

"Further results support the interpretation of a typical Lower Roan assemblage with prominent cobalt accompanied by copper in oxides near surface underlain by sulphide-bearing rocks with indications of vertically zoned copper minerals.

The limited penetration of the RC rig used in this initial programme means that the sulphide-bearing strata were in many holes not reached, but the drill campaign has achieved its primary objective in evidencing that potentially significant mineralisation, both hypogene and supergene, has taken place within the license area.

It is too soon to speak of a discovery or of economic potential, as we await the full results from the laboratory and will then have to assess both the grades, the volume of data from the relevant strata, and the continuity between holes.

However we can already feel encouraged by the many positive indications from this small maiden drill programme. We look forward to giving a full report within the next weeks."

The mildly interesting thing about Caracal gold is that around 4 years ago Red Rock acquired the Congo assets from a Jason Brewer company. Jason Brewer is the financial director at Caracal.

Stifling Bell's ability to do placings is hardly an hindrance at present because in the last annual results it showed he had taken out a $2 million loan facility secured against some of Red Rock's Jupiter and POW shares. Once those shares run out and he no longer has the ability to acquire loans then just like he did at RGM he will start blaming the company's woes on those who are blocking him from doing the placings.

I haven't got high expectations that Jupiter share sale money will last long.

On the other forum poster Noirua reminded that in the last final results RNS it said Red Rocks subsidiary company had a $2 million loan facility and it was secured against some of Red Rocks Jupiter and POW shares. $1.4 million had at that point been drawn down and the RNS said:

"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"

Now we have no idea if Red Rock have been paying down this loan. Who knows the Jupiter sales money might have gone straight to the lenders YA.
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Then in the November 2020 RNS it says that Kansai were given a $1 million promissory note which would be payable 15 months later. So Kansai will be due that $1 million in Feb 2022.

Noirua wondered if Red Rock still had Corcel shares. In the 2020 final results RNS it said RRR had sold them for a loss.

Robins to answer your question from the other day. No as you know I rate Bell lowly. I know an huge amount of AIM investors loathe him: they think he's useless, always making excuses and always on the grab. So although I would love to see you recoup your money I don't think many AIM investors trust or believe in Bell.

Patrick7 you misunderstood Jimmy's 9.25 am post because he said he had bought into RRR. Look at his post like "at this price I couldn't refuse".

Then because you misunderstood you demand to know from Jimmy why he said no to RRR. Then Jimmy gets annoyed because he thinks you are demanding to know why he bought into RRR.

So two RRR buyers arguing with each other for no reason.

Yes I'm also unclear how long they can stay in suspension.

By the way although you would think they are an AIM listed company but they actually aren't.

https://www.lse.co.uk/rns/CZN/admission-to-main-market-and-first-day-of-dealings-u3z94qwwjfdx9c4.html

I know this is a horrible thought and question for CZN shareholders but how long can a company stay in suspension before they get delisted?

It looks like RRR CEO Andrew Bell will soon spend £100,000 of his own personal money to exercise 10 million of his own POW warrants.

https://www.lse.co.uk/rns/POW/insider-warrant-update-32ttbjebxxpw8iw.html

If he does soon spend £100,000 of his own money on exercising his POW warrants I don't think many here will appreciate it after all he recently sold around £10,000 of his own Red Rock shares.

The 17th August Power Metals RNS says Red Rock Resources had completed and spent £200,000 to exercise 20 million of its Power Metal warrants.

Power Metals saw that as worthy of releasing an RNS. So when Red Rock have just spent £200,000 on exercising it's Power Metals warrants why doesn't RRR CEO Andrew Bell think that is also worthy of releasing a Red Rock Resources RNS?

Phoenix you have made a mistake because about 20 minutes ago my earlier post mysteriously appeared at the top of this thread and some other posts disappeared. Now the other posts have reappeared and my earlier post is below lots of posts again.

So no repeat post by me. However I do accept apologies?

especially after yesterday's RNS revealed that RRR CEO Andrew Bell had sold some of his Red Rock shares at 0.565p.

Andrew must have thought that was a good sell price.

Liquid Silver, buried in the 31 December 2020 final results RNS:

"After the year-end, On 6 November 2020, RRR Coal Ltd, a company 100% owned by Red Rock Resources Plc, extended and amended its standby Loan Facility with a maximum drawdown amount of US$2.0 million. The maximum amount drawn down and refinanced under this facility has been US$1.4 million, leaving a balance of US$0.600 million available for drawdown. As security for any funds drawn down, RRR Coal Ltd has agreed to maintaining a value of all the shares in pledged to be equal to one time the amount outstanding on the loan facility as calculated by the value weighted average price for the proceeding five days prior. At the time of completion 6,302,000 shares of Jupiter Mines Ltd and 20,000,000 shares of Power Metal Resources Plc were pledged to the noteholders and a Corporate Guarantee was also executed"
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I recall same RNS said repayments would begin in June 2021, over a 6 month period. We have no idea if RRR have begun repayments.
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Also from the earlier 18 November 2020 RNS:

"Red Rock Resources Plc, the natural resource development company with interests in gold, manganese and other minerals, reported on 17 August 2020 the renewal of its licenses relating to a gold project in Kenya (the "Project"). As originally announced on 15 June 2018, as part of a transaction whereby Red Rock acquired the remaining beneficial interest in the Project from a subsidiary of Kansai Mining Corporation Limited ("Kansai") the renewal of the licenses triggers the following actions by Red Rock:

· Payment of £25,000 to Kansai by the issue of 3,571,429 Red Rock shares ("Shares") at a price of 0.7p a Share;

· Issue of a $1,000,000 Promissory Note payable in fifteen months to Kansai;

· Grant to Kansai of £500,000 of warrants exercisable for 30 months into Shares at 0.7p a Share."
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So Kansai were given a $1 million promissory note that was due to be repaid 15 months later. So according to my calcs Red Rock will have to pay Kansai another $1 million in Feb 2022.
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I can't blame you for not spotting the debt because it is long forgotten or well hidden.

seems to be getting sick of Bell. For those that don't know Winnifrith is Bell's good friend so he's always tipping RRR.

Yesterday on sh*reprophets they posted:

"Red Rock Resources (RRR) has made Australian gold joint venture and DRC copper-cobalt project drilling updates and, though the shares are still up from circa 0.5p a year ago, at 0.625p they are down from more recent levels this year and are, in fact, back at our original tip price. So what’s the story? Well it is one of more non-delivery from Andrew Bell. Great potential but a CEO not doing what he said he would do"

Following on from my last post, the transaction in the 1st March 2021 RNS may not have been wonderful for HELPFUL's high net worth clients. By the way Helpful's company is bespoke capital solutions limited.

Extract from 1st March RRR rns:

"The Company has paid US$1,000,000 of the US$2,500,000 payment obligation by paying US$1,000,000 in cash and Kansai has elected to receive the balance of $1,500,000 in the form of an issue of 101,550,000 new Ordinary Shares of 0.01p in the Company ("Shares" and "Share Payment") at a price of 1.05 pence per Share to Kansai.

The Issue of Shares for the Share Payment is conditional on the approval of Red Rock shareholders.

Kansai has agreed to sell 52,437,048 Shares to be issued under the Share Payment to a number of substantial private investors in a transaction arranged by Bespoke Capital Solutions Limited"

that Red Rock Resources do sometimes arrange loans with poster HELPFUL's company. So because you would think he would like to again do business with Red Rock then it's clearly in his own interests to suck up to Bell + always paint Red Rock with a rosey picture.

The amusing thing about yesterdays Andrew Bell proactive interview was that around the one minute point Bell was putting the boot into Fosterville saying they were over promoted last year and are a bad comparator to RRAL. Then he said he wanted RRAL to instead be compared to London listed ECR.

https://m.youtube.com/watch?v=9N-8j4aJEg4&feature=youtu.be

Then just a couple of hours after the interview Fosterville release a new upbeat RNS and Bell, Johnson and ramper Helpful all now want to associate RRAL with Fosterville once again. I guess it's the fickle world of ramping.

By the way around the 2 minute point doesn't Bell come across really shifty? I don't think he convinced Katie to invest her £25,000 in RRR.

Talking about RRAL rns only said "possible listing". Plus if that listing happened they now want it to be in London.

Let's be brutally honest with someone with the awful reputation of Andrew Bell you would want his new listed company to be in a country that as never heard of him. That way you would probably get lots of naive investors investing in RRAL. However listing here most know of Andrews stinking reputation and so I reckon it wouldn't appeal to many.

Also Red Rock is not a sob story. Andrew isn't unlucky. Andrew builds up the hype and it almost always fizzles out to losses and disappointment for PIs. And I would say "sack him" but I'm not convinced he's built much here except huge debt and overhyped projects. So any new person would be left with an hopeless task.

From recent AGM

Resolution 4: Re-election of Mr. Andrew Bell

“That for the purposes of Listing Rule 14.4, clause 6.3(b) of the Constitution and for all other purposes, Mr. Andrew Bell, being a Director of the Company who retires in accordance with clause 6.3(b) of the Constitution and, being eligible, offers himself for re-
election, be re-elected as a Director of the Company.”
12

FOR 295,449,795 = 21.24%
AGAINST 1,090,281,003 = 78.39%
ABSTAIN 2,034,708 -
OPEN 5,195,684 0.37%
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I vaguely recall when he got ousted at Star striker he quickly sold Red Rocks shares. So let's see if he holds onto to the Jupiter shares.

In the stockbox 20th May interview (starts at 8 min 15 seconds) Bell said RRR initially were given 800,000 Juno shares but they bought more at the time of the listing. From a recent RNS RRR now have just over 1.2 million Juno shares.