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In July CEO Scott Kaintz didn't call it drilling he called it soil sampling.

"Scott Kaintz, CEO, commented: "We are delighted, together with our JV partners, to have approved the mobilisation of a team of geologists to conduct soil sampling and mapping activities this summer at our Dempster Vanadium project in the Yukon"

I see the colder weather is starting to set in now near the Dempster highway:. https://weather.gc.ca/city/pages/yt-4_metric_e.html

Those temperatures look like Autumn temperatures because most of last winter the temperatures were around minus 30.

Old RNSes says exploration at Mambare first begun around 1960. So just imagine putting some money towards Mambare exploration in 1960 when you were 30 years old and now at 90 years of age you see there still hasn't been much exploration progress at Mambare.

Old RNS gives this Mambare history:

"The Mambare project site is located near the village of Botue, approximately 90km north east of Port Moresby. The area is linked to Popondetta and Oro Bay by gravel and sealed roads.

The Mambare Plateau is an elevated 20 by 7-kilometre paleo-plateau in the Ajule-Kajale Range, developed on ultramafics. These ultramafics are overlain by gabbroic rocks and submarine basaltic volcanics.

Whilst the project has a long history of exploration digging, it remains largely unexplored with exploration activities to date covering only 3% of the plateau. Pre 1960s exploration consisted of test pitting and hand augering with at least one bulldozer trench being dug. Between 1960 and 1971, 240 auger holes were drilled, and 56 pits and one costean dug. Between 2008 and 2011 exploration campaigns included 7,291m of drilling from 455 holes and 5 test pits, including GPR surveys. The programmes conducted between 2008-12 covered only 3% of the Mambare Plateau, the primary long-term exploration target"
.........,......................................

We were told earlier this year that for the first time since 2012 that some work had been done at Mambare. This timeline link https://mobile.twitter.com/VipassanaTrades/status/1298194036541591559 says that the Mambare ground penetrating radar results were due to be released at the latest in the first quarter of the last quarter of the year. So that would be at the very latest by 23 October 2020.

I've often wondered if any GPR actually happened because during December to March in Papua New Guinea they have a very long rainy season. That was when the GPR was supposed to be happening.

Lastly I'm still baffled why the useless Scott Kaintz is still employed at this company. He's been at this company (formerly called Regency mines) for around 9 years. He and former chairman Andrew Bell were an absolute disaster here losing money in one woeful project to the next. Scott Kaintz credentials for green clean energy are an absolute joke because he and former chairman Andrew Bell were in these past years investing and promoting coal projects which they lost millions in.

In my previous post the first line was meant to say 17 August 2020 RNS.

On 17 June 2020 RRR RNSed about the Kenyan gold licenses. RNS said:

"Further to the announcements of 31 March 2020 and 19 September 2019, the anticipated renewals of Prospecting Licenses PL/2018/0202 and PL/2018/0203 (formerly SPLs 122 and 202) have now been received for a period of three years from 2 August 2020"

The 15 June 2018 RNS said:

"Red Rock also announces, further to its announcement of 26 June 2015, that a revision to its agreement with Kansai Mining Corporation ("Kansai") of 20 June 2015 ("2015 Agreement") was executed on 11 June 2018 ("2018 Agreement"). The effect of the revision is that Kansai exchanges its 25% carried interest in the mineral assets of Mid Migori Mining ("MMM" and "Assets") under the 2015 Agreement for a $50,000 payment, leaving Red Rock with a 100% interest.

In the event of a renewal or reissue of licenses covering the Assets the Company will within three months make further payments, subject to such renewal or resissue not being on unduly onerous terms, as follows:

1) $2.5m payable in cash.

2) a $1m promissory note payable 15 months after issue.

3) £500,000 of warrants into Red Rock shares at a price 20% above their average closing price on the three trading days prior to issue."
................

So joining both news releases together that would mean by Sunday 2 November 2020 RRR would have to pay Kansai mining $2.5 million in cash.

So the question is where do Red Rock get that money from?

Here IG stance on tomorrow's FTSE 100:

https://www.ig.com/uk/indices/markets-indices/ftse-100

Zac I was looking at it purely from a negative angle. US often release news that sends their markets red and our market usually reverse and also go red.

Obama apparently did a speech tonight laying into Trump. So will the markets react to that?

Just looking at IG Wall Street at present it looks like the US markets may be down tomorrow:

https://www.ig.com/uk/indices/markets-indices/wall-street

FTSE often tracks the US stock market. Donald Trump believes he is the reason the US stock market remains high. Every so often he'll do a tweet that spikes the price of the US markets.

So if he were to lose on 3rd November I think he'll go all out petulant child and try his best to bring the US stock market crashing. The FTSE often tracks the US stock market so that wouldn't be good. So let's pray Donald will be mature if he loses.

Also think there could be many red days leading up to the 3rd November US election.

leading up to the 3rd November US election.
....
Mr Magic, I'll try to answer Torp's question on advfn when he asks "Straight out question If the CLN holder refuse to convert by 19th Dec does RRR HAVE to find the cash to pay them off? Yes or No?"

To me this is a simple "yes" because RRR owe the CLN holders £830,000 + interest. They have a 1 year CLN contract with these lenders. So after 19th December the 1 year CLN contract would end. So if no other agreement is reached (like rollover) then Red Rock would have to find the money to pay back these lenders.

Leflic, take a look at this Red Rock RNS from 2018:

https://www.lse.co.uk/rns/RRR/progress-report-african-exploration-assets-5s1il4w8nfrg1yr.html

In the above RNS it says if Kenyan gold licenses are renewed then Red Rock would have to pay Kansai mining $2.5 million within 3 months of license renewel. Licenses were renewed on 2 August 2020.

On 7 September Red Rock chairman Andrew Bell posted on this thread and when asked he confirmed that Red Rock would need to pay this money.

Click the link and read his first post on 7 September:

https://www.lse.co.uk/profiles/andrewrbell/

Of course people can do what they like but I would personally hold off investing until I see where Red Rock find that $2.5 million.

The link is below.

Time and time again the Mining Maven pdf says that after Red Rock's recent £1 million fund raise that Red Rock are now fully funded. I am doubtful about that because in a 2018 Red Rock RNS it says within 3 months of a Kenya license renewal (renewed 2 August 2020) Red Rock would have to pay Kansai mining $2.5 million.
Though last week on the JMS hotcopper thread some poster suggested that a 6 million share sell that went through could be Red Rock selling. I guess it will soon become clear how Red Rock will find that $2.5 million.

At the bottom of the pdf it says:

DISCLAIMER
Authors: Daniel ***** & Ben Turney

• The Authors do not hold any position in
the stock(s) and/or financial instrument(s)
mentioned in the piece.

• MiningMaven Ltd, the owner of MiningMaven.
com, owns a position in the stock(s) and/
or financial instrument(s) mentioned in the
piece.

• MiningMaven Ltd, the owner of
MiningMaven.com, has been paid for the
production of this piece by the company or
companies mentioned above.

• MiningMaven.com and MiningMaven Ltd
are not responsible for the article’s content
or accuracy and do not share the views
of the author. News and research are not
recommendations to deal, and investments
may fall in value so that you could lose some
or all of your investment. Past performance is
not an indicator of future performance.

Here is the twitter link to the Mining Maven pdf:

https://mobile.twitter.com/theminingmaven/status/1318103442221633536

let's be honest it's the government's harsh restrictions that are ruining businesses. Governments are putting the shackles on businesses and society and if anybody dares to say they want those shackles off they are made to feel like they are a selfish c**ts.

Some may say Sir Tim is inelequent and too forthright with his views but in my opinion we need more people like Sir Tim to kick up a fuss and question the government's harsh restrictions otherwise if we all subserviently keep quiet we'll all be shackled up with these government restrictions for many more years.

when talking about Kenyan asset in Stockbox interview that 3 months after Kenyan license renewal (renewed 2 August) Red Rock would have to pay Kansai mining $2.5 million.

Here are the full details in this 2018 RNS:

https://www.lse.co.uk/rns/RRR/progress-report-african-exploration-assets-5s1il4w8nfrg1yr.html

I watched the interview and nodded in agreement with Andrew when he said if an exploration asset isn't eventually mined then it has a value of zero.

These extracts from today's RNS on Congo look worrisome. I can't recall Red Rock previously RNSing that there were troubles with the Congo asset.

From RNS:

"Red Rock Resources Congo SAU's lawyer has been resolving longstanding issues that had arisen in relation to partnership matters, as well as documentation and registration, and the Company is now in a position to appoint an in-country manager and establish a physical office"

"Two of these three businesses - Australia and Congo - are new, in the sense that RRAL has acquired its interests since lockdown began, and that the outcome in Congo looked uncertain and even perilous just weeks ago, so that we were unable to speak of it with any confidence."
.............

In this RNS absolutely no mention of Red Rock Jupiter shares. Maybe others are right and they will be all sold off.

Since the recent £1 million placing I cannot see the CLN holders now converting. After all they wouldn't convert their CLNs into 0.60p shares when the RRR share price was over 1p. So why would they convert at this much lower price?

From my understanding it is entirely up to the CLN holders if they convert or not. So if they decide not to convert then they could either instruct Red Rock to pay them the outstanding amount. So Red Rock would probably have to get a loan to do that. Or once again they come to another arrangement were they roll over the CLNs for yet another year.

Though I suspect this share price will be well below 0.60p by December because I expect most of those in the £1 million placing will sell and destroy this share price.

Those 1,875,000 shares sold at 0.75p which got the seller just over 14k were almost certainly placing shares because if you multiply those shares by the 0.80p placing price then it comes to £15,000. So not great for that placing participant.

With it being a £1 million RRR placing. Means many many more placing shares to sell. So could be lots of downward pressure on this price.

According to Google 75 Wetherspoon's in Scotland. So today's Scottish news on pub coronavirus restrictions is not good:. https://www.dailymail.co.uk/news/article-8815059/Nicola-Sturgeon-set-BAN-alcohol-Scotlands-pubs-force-6pm-closing.html

Will England soon follow?

That £1 million placing is looking more ugly than I first thought. Placees got 0.80p placing shares but they can now sell at a touch over 0.75p. So if the sell price gets much lower then a massive panic could set in. Nobody likes to lose so it could turn into a stampede for the exit door.

It's been a few months of upward momentum. Then CEO/Chairman Andrew Bell makes a decision that totally reverses momentum. Amazing how everything quickly turns.

I guess Andrews response would be the type of response he would give you in an email. So you may feel slightly comforted by his response when he tells you that all the options look good.

I guess we'll soon see.