Member Info for zumore

From RNS:

Highlights:

· 100MW 132kV connection offer received from UK Power Networks

· Planning permission for initial 50MW battery site granted by East Cambridgeshire District Council
..........

Surely if the UK power networks have said yes to a "100 MW grid connection project" but they've only got planning permission for a 50 MW project then that means they will need to reapply for new planning permission?

Also when it was originally meant to be a 30MW project Kaintz said it would cost in the region of £10 million to build. So what is the cost of a 100MW project?

Also from earlier interviews Kaintz only anticipated a 30MW project and he seemed to suggest they could get the £10 million external funding for that. But now 100MW can they get the external funding for that?

I don't know if the price is flying while I type this? But I'm not so sure this is a good RNS.

Small correction to my last post. It was actually bite off not chop off.

Helpful: "Why would we not convert given the current price level? By converting on 19/12 we maximise our position."

By maximising your position I assume you mean you are going to wait 3 months to collect an additional 3% interest? When right now you could convert and get shares at 0.60p which is around 80% discount to the current buy price.

In 3 months time the share price could have crashed. They should sack you because your advice to them to hang on for 3 more months is stupid.

Tell me what you think Mr Magic and I'll tell you whether I think you are correct or not

Well Mr Magic from my understanding they are under no obligation to convert. Unless you know different?

Last post should've said:

"At present they are refusing to convert"

No Playtime no envy of CLN holders or with poster 'longterm'. After all CLN holders only have 3 more months to convert their loan notes into 0.60p shares if they don't they will expire. At present they are refusing to do convert. I think refusing to do so is utterly bizarre.

Likewise poster 'Longterm' says he bought 33 million RRR shares at 0.20p. So 500% up but he still wants more. To me that's greedy. He obviously doesn't know Andrew Bell's track record. Prolonged rises here are rare. So because I think he's pushing his luck no envy on that front either.

I thought CRCL were going to be inundated with lots of newsflow in September?

Also remember Doc Holiday saying if this share price didn't reach 2p by end of September he will chop off his d***. Of course his d*** ramp had the sophisticated savvy investors piling into CRCL.

I hope he's a man of his word and it's gone by October. I'm sick of hearing about his scraggy old d***! He's been using it to pump CRCL for ages.

So it'll be good riddance to it!

Could be Colin. Lots of money need here.

Andrew Bell in a interview the other week also said RRR were planning the next exploration phase in Congo.

Where is this money?

Seems to me Red Rock are promising the earth to shareholders/potential investors but they don't actually have the money. They seem to be a company totally living beyond their means.

Red rocks Kenyan prospecting licenses were renewed On 2nd August 2020.

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

Above 2018 RNS says that within 3 months of licenses renewel Red Rock must pay Kansai mining:

(1) $2.5m payable in cash

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

Just a couple of weeks ago RRR chairman Andrew Bell confirmed that these payments do still need to be paid by Red Rock.

Unless they can find a rich partner where do Red Rock find that money?

Red rocks Kenyan prospecting licences were renewed On 2nd August 2020.

This is an extract from the Kenyan 2016 mining act:

77. (1) "The holder of a prospecting licence shall -

- commence prospecting operations within three
months of the grant of the prospecting licence or a
period specified in the approved programme for
prospecting operation;

- undertake prospecting operations in accordance
with the approved programme of prospecting
operations;

- ensure that the amount of work and expenditure
specified in the approved programme of prospecting operations is actually expended in the course of undertaking prospecting operations within the deadlines stipulated"

Later on it says:

"Where the expenditure specified in the approved
programme for prospecting operations in sub-section (1) is not expended during the term of a prospecting
licence, it shall be paid to the ministry in a manner as may be prescribed by Regulations made under this Act."
.......

Seems to me the above Kenyan mining act puts a stop to companies trying to bulls*** them.

- Companies need to start the work within 3 months.

-Strict timetables.

-Have to agree to amounts spent.

-If not spent they need to pay the government that money.

I would imagine to get licences renewed Andrew Bell must have promised that huge amounts would be spent. Let's hope Red Rock really do have a rich partner lined up to fund it because Red Rock certainly don't have the money.

Link to the Red Rock 7th September Slovakian asset RNS:

https://www.lse.co.uk/rns/RRR/option-over-slovak-gold-assets-5l1u09y7npcmgwz.html

Above RNS says Red Rock will be giving the Slovakian asset seller €350,000 in Red Rock shares. But RNS also says:

"Red Rock will be responsible for certain expenditures ("Committed Expenditure") of the Joint Venture in the period after execution of the Option, which is expected to amount to not less than €100,000 in 2020"

Not less than €100,000 is a strange way of saying "more than €100,000". So that could mean a €million for all we know. All we know is that it will cost at least €100,000.

Poster 'Helpful' set up the £830,000 convertible loan note with Red Rock. He personally owns some of the loan notes. It gives 12% yearly interest. So Red Rock now owe his lenders a total of near £900,000.

The loan note holders can convert that near £900,000 into 0.60p share up until 19th December 2020. They don't have to convert all at once because the loan notes are broken up into £1000 loan notes.

So because of that it is totally understandable that 'Helpful' spends a lot of time on this thread trying to encourage people to buy into Red Rock.

Congratulations to poster 'Longterm' who bought in around 0.20p. What was it 33 million shares? So now worth around £330,000.

With that many shares to eventually offload I can certainly see why you are encouraging people to buy into Red Rock.

"JUPITER MINES INVESTMENT
Leading global manganese producer 3rd largest
@RRR_RedRock with approximately 15.8M shares in JMS or 0.8% - worth £2.75M 25% dividen yield in 2019
https://buff.ly/2ORLdk"

https://mobile.twitter.com/RRR_RedRock/status/1306180546012344320

Think it'll be a very unhappy Slovakian seller if he's getting €250,000 RRR shares around this price. After all the Red Rock share price at the beginning of July was just over 0.30p.

From ALBA's 28th August half year report:

" We have also appointed highly reputable industry consultants Golder & Associates to undertake a detailed conceptual study on our Melville Bay Iron Ore Project. While we had always planned this as the next work phase for the project, with iron ore prices currently at a six-year high the case for commissioning an evaluation of the economic potential of undertaking mining operations at Melville Bay becomes that much more compelling. This will be the most important work undertaken at Melville Bay since the drilling and declaration of a maiden JORC resource back in 2011-2012."

I have my date reasons but if this share price isn't below 0.25p by 1st December 2021 I will never post on lse again.

FFS Helpful gives it a rest!