Red Rock Resources plc Podcasts

  • Red Rock boss Bell says firm in better position than ever to increase liquidity (RRR)

    Red Rock Resources (LON: RRR) chair Andrew Bell said Tuesday the company was in a better position than ever to improve liquidity, paving the way for evolution to a mid-tier exploration and production firm.

     

    In its half-year ended December 31, Red Rock’s total equity climbed a highly encouraging 20% to £16.7 million, after rising 54% over the previous six months. 

    Not only that, but there was a £2.3 million increase in current and non-current assets over the half-year while liabilities dropped by £530,000. Red Rock has, since December, paid out £1.4 million to Kansai Mining.

    “If we want to advance to become a mid-tier mineral exploration and production company, we need from here to give increasing importance to building and maintaining a high level of liquidity. We are in a better position to do so than we have ever been,”said Bell.

    The value of Red Rock’s marketable securities and cash now approaches £4 million. This has been higher of late and is expected to rise by its year end in June thanks to dividends from Jupiter Mines, as well as Juno Minerals’ in specie share distribution and floatation.

    The company’s value is also set to rise thanks to “the dynamism of Power Metal Resources”. Red Rock owns 25.0 million shares in Power Metal (LON: POW), as well as another 25.0 million warrants. The two are partners in the Red Rock Australasia joint venture (“JV”), which holds a major position in Australia’s highly lucrative Victoria goldfields.

    Victoria is where Kirkland Lake Gold’s (NYSE:KL) astonishing Fosterville mine is located, the highest grade and lowest cost gold mine in the world.

    Red Rock and Power Metal are planning an IPO for Red Rock Australasia. Bell expects this will crystallise the value of Red Rock’s holding in the JV to result in “a valuation uplift significant in relation to our market value”. The JV is split almost evenly, with Red Rock holding the slightly higher 50.1% stake.

    Earlier this month, the JV obtained another two licences, bringing the total to five, with more expected soon. All licences so far are located in Red Rock Australasia’s high priority areas, where the JV is already developing its early drill targets. The 11 other JV licences are in the final processing stage.

    Juno and Red Rock Australasia are not even the only upcoming IPOs in Red Rock’s portfolio, with Elephant Oil also poised for a market listing. Bell pointed out that if results from Juno’s passive seismic two years ago in onshore Benin are fulfilled “to any degree” then Juno could become one of Red Rock’s significant assets.

    The company’s liquidity is improving already in its second half, with the company aiming to hit a £20 million cash and liquid investments target in the medium term.

    Author: Anna Farley

    The Author does 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 not 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

    Loss for the six months amounted to £430,000, swinging from a £337,000 profit the prior year. This results from higher administration costs, including employment costs, as a partial result of Red Rock Australasia’s elevated activity level amid increasing land holdings plus preparations for exploration and listing.

    Lower dividends from Jupiter Mining also played into the interim loss.

    Big things ahead

    Red Rock has a variety of exciting plans lined up. For example, the firm is preparing to drill short reverse circulation holes at its Luanshimba copper-cobalt prospect, located in the DRC, once geophysics is done and ground conditions allow.

    Elsewhere, in Kenya, the company is finalising its drill programme to follow up a recently announced JORC resource while in Australia it has started active exploration with the first targets set for drilling later this year.

    “We live in volatile times”said Bell, noting the need to prepare “for sieges as well as marches”. While there appear to be promising opportunities in all directions for Red Rock, there are also grounds for caution.

    Bell explained that while this could be the time for “move up by an order of magnitude to a new level” thanks to exciting project and a strong market, it is important for Red Rock to keep its footing and not put “the hard won gains of the last year” at risk.

     

  • Red Rock Resources pushes forward at Kenyan gold project (RRR)

    Wednesday saw Red Rock Resources (LSE:RRR)provide an update on its recently renewed and highly prospective gold project in Kenya.

    After a prolonged dispute with the Kenyan authorities, the firm finally returned to the Migori project in August after many years.

    Specifically, it was able to renew the two licenses that make up make up the property, which sits on a gold-rich greenstone belt lying between North Mara over the border to the south and Shanta Gold’s (LSE:SHG) growing project to the north.

    Red Rock is now ready to forge ahead in its quest to build on the 1.2 million ounce (“Moz”) ‘starter’ resource it previously defined at Migori and realise this project’s enormous potential. And having raised £1 million at the end of September, the company is fully funded, and its stock looks primed to make a sharp move higher as news is rolled out.

    On Wednesday, Red Rockannounced that it has now satisfied all of the conditions associated with taking a 100% interest in Migori, as laid out back in June 2018. Namely, it has paid previous owner Kansai £25,000 in shares at 0.7p each as well as issuing it a $1 million promissory note, and granting it £500,000 worth of 30-month warrants exercisable at 0.7p each.

    Meanwhile, the company also announced that it has appointed CSA Global to provide an updated mineral resource report for the project.

    The purpose of the update is to bring the historic 1.2 million ounce mineral resource estimate into compliance with the JORC 2012 code. This will enable it to be reported as a code-compliant mineral resource estimate in accordance with an AIM standard.

    Red Rock chairman Andrew Bell said: "Obtaining a 100% interest in 2018 was an important step forward in adding value to the Project and enables us now to deal in respect of the Project with a free hand. Red Rock has come a very long way since its first modest involvement in Kenya, which was on a farm-in basis, has overcome all vicissitudes, and now controls what we believe to be a significant and potentially expandable deposit.

    “Our consultants will immediately begin the work to enable us to declare a compliant resource which we will notify as soon as it is completed. This is an important step in our planning process for the next phases of exploration which will be aiming to build on the existing resource ounces and grade.”

    To read our recent, in-depth look into the Migori project, please click here.

    Author: Daniel Flynn

    The Author does not hold a 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

     

  • MiningMaven Podcast 121 - with Andrew Bell of Red Rock Resources (RRR)

     

    Today’s guest on the MiningMaven podcast is Andrew Bell, chairman of Red Rock Resources (LSE:RRR). Red Rock has a wide portfolio of assets and investments including the Migori gold project in Kenya, copper-cobalt projects in the DRC and an investment in Jupiter Mines, currently worth £4.25m. Andrew discusses the firm’s portfolio of assets, how its holding in Jupiter Mines underpins the company, and the fact that the Market Cap of Red Rock is currently at a substantial discount to the value of its total assets.

    This interview was recorded on 6th August 2019.

     All opinions expressed are those of MiningMaven and the respective guests, unless otherwise stated and should not be construed as investment advice or a recommendation to buy shares in any featured Company. From time to time MiningMaven principals may take equity positions in companies featured. Listeners are advised to do their own extensive research before buying shares which, as with all small cap exploration stocks, should be viewed as high risk. Investors should also seek the advice of a qualified investment adviser or stockbroker as they deem appropriate. MiningMaven.com is a trading division of Catalyst Information Services Limited. Registered in England no. 06537074 (Registered Office Address 3rd Floor Ivy Mill, Crown Street, Manchester, M35 9BG) #gold #mining #investing 

    Author: Stuart Langelaan

    The Author does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the piece.

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

    Catalyst Information Services 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 Catalyst Information Services Ltd are not responsible for its 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.

  • MiningMaven Podcast No 58 with Andrew Bell Chairman and CEO of Red Rock Resources (LON:RRR) #RRR

    Our guest on todays podcast is Andrew Bell, Chairman and CEO of Red Rock Resources (LON:RRR).

    Yesterday the Company announced that Jupiter Mines, in which Red Rock owns 27k shares, has announced that its 49.9% owned associate Tshipi é Ntle Manganese Mining Proprietary Ltd will distribute ZAR 1 billion to its shareholders in March next year and upon receipt of its portion of this payment will distribute US$55m to its own shareholders.

    This equates to a distribution of around £530,000 to Red Rock in March 2017 with the potential of further distributions in 2017 if manganese price remains strong and Jupiter will pursue "strategic options" for its investment in Tshipi. The full release can be seen here:

    https://www.rrrplc.com/themes/rrrplc_theme/scripts/php/rns_viewer.php?id=25234766

    In today’s podcast Andrew discusses the significance of this news against the backdrop of the latest broker note from Dowgate Capital who have revised their price target upwards from 2.8p to 4.4p – making it around a “10 bagger” from these levels – to quote the vernacular!

    See the Dowgate Note here : https://bit.ly/2gGH2Ad

    Red Rock will also be participating in the MiningMaven 'After Party' on Wednesday 30th November - this event is filling up fast and places are strictly limited. For details and registration click here: https://bit.ly/2f7aVDW

    All opinions expressed are those of MiningMaven and the respective guests, unless otherwise stated and should not be construed as investment advice or a recommendation to buy shares in any featured Company.

    From time to time MiningMaven principals may take equity positions in companies featured. Listeners are advised to do their own extensive research before buying shares which, as with all small cap exploration stocks, should be viewed as high risk. Investors should also seek the advice of a qualified investment adviser or stockbroker, as they deem appropriate.

    This interview was recorded on Monday 21st November 2016

    MiningMaven.com is a trading division of Catalyst Information Services Limited. Registered in England no. 06537074 (Registered Office Address 3rd Floor Ivy Mill, Crown Street, Manchester, M35 9BG).

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