Member Info for zumore

Though for balance I see that Arc minerals (formerly Ortac) are selling one Slovakian asset: https://www.investegate.co.uk/arc-minerals-limited--arcm-/rns/sale-of-sturec-update/202008111144498059V/

Here is Ortac Resources RNSes:. https://www.investegate.co.uk/Index.aspx?searchtype=3&words=OTC&pno=4

They mention Zlata Bana in October 2011 RNS but a quick search through RNSes and I see little mention thereafter. Though in some RNSes they do mention local issues with their other Slovakian assets.

Ortac Resources (OTC) had other more advanced Slovakian assets that became a nightmare with great resistance from the locals. It seems Ortac had to eventually give up on them.

So I doubt investors will be buying in on today's RRR news. To me it just seems a waste of money with the Red Rock RNS aim of trying to lure in the gullible investors.

Yes "helpful" I saw that but if you look through the OTC (Ortac) RNSes after that you see hardly any mention of Zlata Bana.

Yes "helpful" I saw that article but if you look through the OTC (Ortac) RNSes after that you see hardly any mention of Zlata Bana.

Talking about Slovakia in RNS:

"In a country where landowner rights have in the past sometimes inhibited exploration"
....
I see Ark minerals when they were formerly called Ortac resources (OTC) had major local issues with their Slovakian assets. Just a quick glance at those old RNSes it seems the locals + mayor + councillors put up a massive resistance and they had to eventually abandon developing their Slovakian assets.

Looking at around 2011 Ortac Resources RNSes (OTC) also mention the Zlata bana asset that RRR talk about in today's RNS.

So on that basis I think it's a utter waste of money by Red Rock management. Lots of companies wrongly believe if they mention anything "gold" or "silver" in an RNS mug investors will go crazy for it. But I think even mug investors won't go crazy for today's RRR rns.

From RRR rns

"The Notes were issued at par and are convertible into Shares at a price of 0.6 pence per Share. Each Note has a denomination of £1,000 and is thus convertible into 166,666 new Shares in the Company".
.....

£1000 loan note converted into 166,666 RRR shares. If then sold at 0.90p would get almost £1500.
..
But loan note holders would rather not convert and instead collect 1% interest a month?

No offense but your reason for not converting CLNs is moronic.

You could convert CLNs now and get 0.60p RRR shares and you could then sell and make around a 50% profit. But you would rather not convert and instead collect 1% interest a month. That's thick!

Lemonade, just a few days ago you posted this on this PPC thread:

"I reckon peeps are coming in off the lows for a lucrative period of news,,, TA wise looks good to dbl your money from here.."

Also point out the false information

Like I said I'm s fast typist. So it takes very little time to make a few posts.

It really don't mind if this price rises. I don't think it will last. But I don't mind.

You are a bit rude aren't you to your fellow posters?

And for your information lse over the years has helped me become a very fast typist. I can do 7 long posts in under 5 minutes.

Lastly this isn't a Red Rock owned thread. It's a thread were posters can talk both good points and bad points about the company Red Rock Resources. So if you can't cope seeing differing opinions then maybe lse isn't for you.

At end should say:. "will be massive"
.....
I would love an edit button here. I must have made 1500 additional posts to point out a mistake I'd made in a previous post

Will most likely be an huge financial burden on Red Rock over these next 3 years. And it could all be in vain because the Kenyan government may well eventually take licences away again.

Even though recently Red Rock got licence renewed this August article shows there is still much unhappiness with how mining is being run in Kenya: https://www.businessdailyafrica.com/markets/marketnews/Mining-firms-want-licencing-ban-lifted/3815534-5609634-y6s81/index.html

You would think because Kenyan licences were renewed then RRR promised the Kenyan government that big money would be spent on Kenya licences over these next 3 years. And if this 2018 RRR RNS is correct
https://www.investegate.co.uk/red-rock-resources--rrr-/rns/progress-report---african-exploration-assets/201806150700024789R/ and RRR do have to pay Kansai $2.5 million within 3 months of licence renewel + give Kansai a $1 million promissory note which they can cash in in 15 months or so. Then you could see that Red Rock could live to regret getting these Kenyan licences renewed because it could be an enormous financial drain over these next few years. And as MrM and Briarbank have pointed out they are only prospecting licences, so the Kenyan government may never let them be upgraded to Mining licences.

I will now ease up posting on this thread. But it would be no sob story if licences were eventually taken away again. I think most can see that is a great possibility.

Some are optimistic here. I'm certainly not. I think the money needed for the various Red Rock projects will massive.

Some photos of the RRR Chairman. Now nobody can't tell me he hasn't got an honest face.

https://mobile.twitter.com/RRR_RedRock/status/1136609369196507143

https://upload.wikimedia.org/wikipedia/commons/5/5c/Roscoe_Arbuckle.jpg

https://mobile.twitter.com/RRR_RedRock/status/1138109907809579011

I will translate for him:

"I have currently exhausted my Kenya and Victoria ramp. Now let me move onto DRC to see if I can sucker a few more in"

Sorry that should be holding the CLNs for one and three quarter years.

Though of course if not looking at the CLNs from the viewpoint of a CLN holder but from the viewpoint of a shareholder who just recently bought into Red Rock, then you wouldn't want the CLN holders to convert.

I believe the CLN holders have around £830,000 in convertible loan notes + they are getting 1% interest each month, so now approx £900,000 is owed. So if the £900,000 were converted into Red Rock shares at the 0.60p convertible loan note price then that would be like an over 50% discounted placing except of course Red Rock wouldn't be receiving any money, instead Red Rock would just be paying back an approx £900,000 loan that they owed.

Though flipping back to the CLN holder I WOULD be converting. I wouldn't consider it selfish to convert because I had patiently held the CLNs for two and three quarter years. I would convert and try to sell at a big profit. I might not get this opportunity again.

It would like do nothing and not convert and guarantee 1% interest in 1 month. Or be proactive and quickly convert and then aim to quickly make at least 20% on the converted CLNs.

It's a no brainer.

In my opinion it would be absolute madness not to convert some convertible loan notes now.

For example somebody converts £100,000 at 0.60p. If they could then sell them at an average price of 0.72p then they would make £20,000 profit. Of course every likelihood that they could sell at an even higher average sell price.

So why wouldn't they now do that instead of locking their money up for 1% interest a month?