Member Info for zumore

Ok I'll do it on here.

(1). No Red Rock do not pay a dividend.

(2). And no Red Rock do not pay a dividend to POW.

You being a twitter member should do a good deed and give some of those twitter users the correct information.

One twitter user asked: "Doesn't Red Rock pay a dividend?"

Another twitterer replied: "Red rock pay a div to POW which means cash flow for POW and less requirement to seek funding from further share issuance. Therefore little/no dilution"

It appears with this loan facility PIs only get updates in the final results RNS.

In the 2019 final results RNS it said it was a $1 million loan facility and it had been drawn down by $200,000. However the recent final results RNS said on 6 November 2020 the loan facility had been amended to a $2 million loan facility and $1.4 million had been drawn down.

So I doubt any further updates will occur. So we should assume that the remaining $600,000 will soon be drawn down.

Final results RNS repayments will begin in June 2021 for a 6 month period. So if the $2 million is fully drawn down + including the interest, that would mean come June repayments will be probably over $350,000 a month.

"On 21 December 2020 the Company agreed to restructure payments due to Kansai Mining following renewal of the Company's exploration licenses held over the Migori Gold Project in Kenya. Of the US$2.5m cash payment due under the original agreement executed on 15 June 2018 within three months of license renewal, the Company agreed to pay $1m in cash immediately, US$0.5 million of which was paid on 24 December 2020, with a further $1.5m to be paid in cash or stock at Kansai's discretion, by 29 January 2021. Any shares issued under this second payment were to be priced at the closing price of the Company's shares on the date of issue"

"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"

Later on in the RNS are the payment terms:

"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"

Because Red Rock made a $0.5 million payment to Kansai mining on 24th December you would now think most of September's £1 million fundraise money would now be pretty low.

I wondered why Red Rock hadn't yet paid Kansai $2.5 million because when they got Kenyan licenses renewed in August they were meant to pay Kansai $2.5 million in cash within 3 months.

Today's final results RNS gives an important update. From the extract from the final results RNS you can see that it's coming.

RNS says:

"On 21 December 2020 the Company agreed to restructure payments due to Kansai Mining following renewal of the Company's exploration licenses held over the Migori Gold Project in Kenya. Of the US$2.5m cash payment due under the original agreement executed on 15 June 2018 within three months of license renewal

The Company agreed to pay $1m in cash immediately, US$0.5 million of which was paid on 24 December 2020, with a further $1.5m to be paid in cash or stock at Kansai's discretion, by 29 January 2021. Any shares issued under this second payment were to be priced at the closing price of the Company's shares on the date of issue"

For example so far RRR have drawn down $1.4 million on a $2 million YA + Riverfort loan facility debt. Of course no prior RNS from Andrew Bell to inform RRR shareholders that he had been wracking up huge RRR debt.

From RNS:

29. Assets Pledged as Collateral

"On 11 April 2019, RRR Coal Ltd, a company 100% owned by Red Rock Resources Plc, agreed to a standby Loan Facility of up to US$1.0 million. The maximum amount drawn down under this facility has been US$0.200 million. As security for any funds drawn down, RRR Coal Ltd agreed to maintain a value of shares in Jupiter Mines Ltd equal to three times 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 5,500,000 shares of Jupiter Mines were pledged to the noteholders and a Corporate Guarantee was also executed.


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"

Forget my last post. They were released when I was typing my last post.:)

Yes shareholders should not be happy if he's going for a delay. Last year's annual results revealed various loans that RRR had made (that amounted to near £2 million) that in the small print had been written off. Plus buried away in last year's annual results it revealed Bell had set up a subsidiary company and then through that RRR subsidiary he had set up a $1 million loan facility with YA and Riverfort. Plus like you say numerous other important things are revealed in the annual results. So the annual results are absolutely vital for PIs.

Like you say normally they would have to be released at the latest by today. I see Lekoil in June gave an RNS to say they were seeking extension https://www.investegate.co.uk/lekoil-limited--lek-/rns/extension-of-annual-results-and-trading-update/202006260700061975R/ . Though if the RRR annual results aren't released by today then Bell is not guaranteed to release such an RNS because on numerous occasions he just doesn't RNS information that you think he should.

Just seen this link https://mccarthydenning.com/covid-19-listed-companies-the-fca-response/ . It says because of the Coronavirus AIM companies can apply for a 3 month extension to report their annual accounts.

It says:

"As anticipated, following the FCA announcement, the London Stock Exchange published an issue of its Inside AIM newsletter on 26 March which set out temporary changes to the AIM Rules concerning the publication of annual accounts by companies admitted to that market. AIM companies with a financial year ending between 30 September 2019 and June 2020 can apply, via their Nominated Adviser, to AIM Regulation for a 3-month extension to the deadline for the publication of their annual audited accounts, which currently have to be published within 6 months after the end of a company’s financial year in accordance with AIM Rule 19. The application must be made before the current filing deadline"

Red Rock's annual results must be bad because CEO Andrew Bell still hasn't released them.

He either releases the RNS today after hours or on half day trading tomorrow. Either way both sneaky and you could only conclude that he would be trying slip out an awful annual results RNS. No doubt lots of hidden nasties in it.

I see Scott Kaintz said it was the "remuneration committee" who decided his and the other directors pay rises. If I recall correctly Kaintz pay approximately doubled this year.

The extract below is from the Corcel website. It looks on the remuneration committee it's basically "hands up if we should have a pay rise.

"Currently the Company has one Independent Non-Executive Director, Ewen Ainsworth. As an interim measure, whilst a further independent non-executive director is sought, Ewen Ainsworth Chairs both the Audit and Remuneration Committee. James Parsons sits on the Remuneration Committee with Mr Ainsworth and Scott Kaintz sits on the Audit Committee. The Board is aware that this is not in line with best practices, especially having an executive director as a member of the Remuneration Committee. However, with the current limited number of Board members this is the best and only possible arrangement to ensure that the Committees are quorate and functioning. Conflicts, where they arise, will be identified and handled appropriately"

Yes that link doesn't take you to the correct place.

I think this is the correct page:. https://www.corcelplc.com/news-research-events/press-coverage/

I see on another thread a poster posted a link to a song.

I like it. It's kind of Christmassy. So I thought I'd post it here:

https://m.youtube.com/watch?v=OtuuhGL6OHc

Did he say it would reach a certain price by Christmas? If so he only has less than 20 minutes of trading left.

I know he's diabetic. I'm not a dietitian but I'm pretty sure all hats are low glycemic and therefore diabetic friendly. So absolutely no excuses. EAT IT!!

RRR year end was June 30th. I'm pretty sure If a company doesn't release it's annual results within 6 months of the company's yearly end then the company would go into temporary suspension.

So with half day trading today + lots of trading holidays next week. That means very little time to get it released.

That should be share consolidation not consolidated.

If the Red Rock share consolidated hadn't happened a few years ago Red Rock would now have near 25 billion shares in issue. I know Andrew is called many different names but Mr Dilution would also be an appropriate name.

These CLN conversions pay back some of the debt that Red Rock owe means just over 147 million additional Red Rock shares will come flooding the market. Yes I know they converted at 0.60p but 147 million shares at today's 0.85p price is around £1.25 million. So that's not a small amount

I didn't make my point to my previous posts.

Posters like 'Helpful' + RRR CEO + I'm guessing Johnson all make PIs believe that some of these RRAL Australian licences could be awarded within days. But if what's written in those below links is true then any awardment of licences could be many months away.

Of course this is nothing new on AIM. CEOs often deceive and make PIs believe something is close to happening (could be a deal, maybe pivotal licences) then they sit and patiently wait and often take the brunt of many savage placings while they trustfully wait.

In November poster 'helpful' posted on LSE:

"RRAL: supposedly it is a 90 day process after the advertisement period has ended with no objections. AB has been expecting the grant for the last two weeks or so"

I'm sure AB is fully aware that the decision on the awardment of licences could be a few months away.

I'm convinced many AIM directors laugh about PIs, feed them any baloney and treat them like utter mugs.