Its good to see that the shares in RRR have taken a turn for the good for its Shareholders.
The current investments are certainly showing value for money, and hopefully the BOD
under Andrew Bell will continue this trend.
Shoats Creek appears to be the weak link in the chain.
Maybe should be given the order of the boot.
Yes that is why i stay investeren here
But my confidence is shaky to say the least after the due diligence disasters
Yes disasters (4times) with regency minder
Never a word to explain of excuses and of h.k.
Hehe dat lucht op
I agree with you that it is undervalued. Market Cap here is less than £2m, yet £.5 million a year coming in then surely that gives a NPV of £3million if you have a discount of 10% and lasting 10 years, add up all the other assets etc then we should be worth 10million that's 5 times today's SP that's why I said 2-3p, so undervalued yes.
Will we get there? It really does depend on the steel project, if no real issues then we could see 3p and then we might even, dare I say it, a small dividend. I'd expect if Kenya pans out then he'll farm that off and get a royalty.
Yes fish lips, I nearly included that in the post. He has collected quite a number of errors hasn't he. Worse he has usually bulled them up rather than being balanced and is much more reluctant to admit things in the garden are less than rosy than he should be. I nearly said, much like has recently happened at Ortac, a new broom is required to move this on but as that is unlikely to happen it seemed pointless but you are correct and lets hope AB does have a little more success with his risk taking!
The trouble is sentiment. After the debacle of Columbia, Greenland and late news on other items, the market has very little confidence in AB. He does deals and some work and some don't he has a very big risk appetite and as long as he can raise funds and some of the projects make money he'll always do it. He gets paid and we don't see much of a return on the SP. Hopefully the deals will be less risky and the money will come in, as predicted from other projects and we will certainly see a rerating. It should be at least 2-3p for JMS, though.
With a fairly regular £500,000 per annum from Jupiter with the prospect of further increases if they go for growth and presumably, though we haven't heard anything for a while a dribble from Columbia and the steel processing plant coming on stream early 2018 am I the only one who thinks this is looking seriously undervalued?
UK Investor Show 2017
Red Rock has Investments in a Producing Manganese Asset in South Africa and a Ferrosilicon Smelter in Bosnia
The Company has exposure to gold production in Colombia as well as gold exploration in Kenya, Ivory Coast and Ghana.
Oil and Gas
Red Rock has producing oil and gas investments in the United States and interests in petroleum exploration onshore in Benin.
Through its investments Red Rock offers exposure to a wide variety of commodities including metallurgical coal, nickel and nickel processing technology, as well as coal bed methane.
El Limon bullet points.
RRR: Ongoing Disposal
Gold Assets sold in 2015 for $5M
USD1M Promissory Note ($250,000 paid $750,000 due 1st April 18)
USD3M Royalty Still to be Paid
2017 Production Expected to be
Long Term Goal of 25,000oz per Year
Jupiter Mines bullet points.
Manganese production in South Africa
Production of 2MT
Targeting 3MT in FY2018
Announced distribution of USD55M to shareholders
RRR HOLDS 27.3M Shares
Funds from JMS buy back $530,000 received + $300,000 due November
Stake in JMS could be worth £5m+++ as they hold a 49.9% stake in Tshipi Manganese mine in S.A. which is in the process of realising shareholder value, also JMS are considering re-listing on the ASX ( RRR hold 27.3m shares in JMS 1.2% )
Planned distribution of US$55m to shareholders in Q1 2017
Tshipi, South Africa 49.9% ownership of open-pit manganese mine
Started production early 2013
Production increased to 2MT+
One of the worlds largest Mn mines
Strong manganese prices
Mount Mason, Western Australia DSO project
On care and maintenance
Mt Ida, Western Australia Magnetite project
JORC inferred resource of 1.85bn tonnes at 29.48% Fe
On care and maintenance
Steelmin (Ferrosilicon Smelter in Bosnia) owes RRR EUR3,874,560 8 Month secured loan note, check out details below. (an income is expected from this investment in 2018 )
So far RRR has 18% of Steelmin, (UP TO OCT) and this will increase each month @ around 1% per month until the loan is re-paid to RRR. (up to max 30% ) Steelmin are expected to go into production this December and re-finance which should enable them to then clear the loan to RRR EARLY who in turn can then repay their lenders (RRR AT PRESENT HOLD 18% OF STEELMIN for VERY little money) it is assumed RRR have so far made two repayments on the loan, which is secured on JMS stock.
Steelmin Ltd. Bullet points.
RRR 16% Stake - May Increase Up to 30%
Initial FeSi Production Targeted for Q1 2018
Two Electric Arc Furnaces Onsite
Complex Capacity of 48,720t of FeSi and 9,700t of Microsillica
Projects 35m Rev and 7m EBITDA
Near-Term Production in Familiar Steel Feed Space
VERY CLOSE TO PRODUCTION
Migori Gold Project bullet points.
RRR: 75% Project Interest
1.2Moz gold JORC Resource
Kenyan Greenstone Belt
Working with Kenyan Ministry of Mining on Licensing Issues
Exploring Partnership Opportunities
Ivory Coast Gold Project bullet points
Early Stage Gold Exploration
Underexplored With Significant Potenital
Birimian Greenstone Belt
On the back
Might dip my toe here despite the somewhat unpromising Steelmin deal.
I emailed the company and they confirmed that the board position relating to the steelmin deal is unpaid. They also confirmed that a substantial liquidity event from the Jupiter sale would likely lead to a distribution subject to board approval.
In my email I mentioned that, in my eyes, if the return to shareholders wasn't substantial, that would effectively amount to a resignation by AB as his position would be untenable. Not sure what everyone else thinks?
The market clearly demonstrating a lack of confidence in Mr Bell and also right to point out no news from shoats creek or for followers of Regency the Rosa mine which was supposed to be the next best thing after sliced bread!!
well i would have preferred a dividend , say one pence per share
but now that the money is spend otherwise : i can live with that
i even say : not bad
why i'm glad you ask ?
i was fearing we would spend the money in our existing projects
so yes glad we did not invest in Goldstone
so yes glad we did not invest in Ivory coast gold project
so yes glad we did not invest in Elephant oil
so yes glad we did not invest in Shoat's Creek
My guess is that the Tshipi business is producing far in excess of their expected tonnage and therefore
increases the financial gain to RRR in the September cash distribution.
Cannot think of any other reason that would lift this share 22+% in a day.
Though maybe just maybe their gold exploration in the DRC has come good.
The current increase in the price of gold would also of course increase the cash % paid from El Limon.
Maybe a combination of all three.
Another $305,000+ in the bank with more to come over the short, medium and longer term.
It's the best financial position RRR have achieved since 2010 and even before.
It's possible the future Tshipi cash expected may possibly bring forth a Dividend.
RNS Number : 1369H
Red Rock Resources plc
05 June 2017
Red Rock Resources plc
Jupiter Mines: Update
5 June 2017
Further to the announcements of 13th March and 14th March 2017, Red Rock announces that Jupiter Mines Ltd, an Australian unlisted public company, has released the following statement:
"JUPITER TO DISTRIBUTE US$25 MILLION FOR HALF YEAR 2018
The Tshipi mine remains on track to produce 3mtpa for the 2018 financial year end.
Should the existing manganese prices continue, Tshipi will distribute a further ZAR500
million to its shareholders in September whilst retaining its healthy debt free balance
sheet. This repayment will result in a total return to Tshipi shareholders of ZAR1.5 billion of their original ZAR2.0 billion capital investment. Jupiter Mines Limited ("Jupiter" or "Company") has also recorded an operating profit of approximately US$10 million from its marketing business.
As a result Jupiter plans to distribute US$25 million to its shareholders in September. This will be via an off-market equal access share buy-back ("Buy-Back"). The cash for this will come from the profits generated by Tshipi and Jupiter's manganese marketing business.
The exact terms of the Buy-Back will be announced in due course but may be for approx. 2.5% of the issued capital of the Company.
The strategic process is progressing as per plan and is generating strong industry interest.
Should there be any material developments, an update will be announced in due course, along with the necessary shareholder approvals needed."
Red Rock holds approximately 1.2% of the issued share capital of Jupiter, so that it will receive approximately US$300,000 as part of the planned distribution.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Andrew Bell 0207 747 9990 Chairman Red Rock Resources Plc
Scott Kaintz 0207 747 9990 Director Red Rock Resources Plc
Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited
Jason Robertson 0129 351 7744 Broker Dowgate Capital Stockbrokers Ltd
Looks like more cash into RRRs Bank Account from this very successful investment,
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