Company Description
Red Rock is a mineral exploration and development outfit.
IPO Details
Issue Date 29-07-2005 Prospectus n/a
Issue Price 2.00p Lead Broker ARM Corporate Finance
Market Cap £2.87m Contact Tel 020 7512 0191
Method Placing
Sector Mining
Market Aim
Amount Raised £0.60m

Web site:- http://www.rrrplc.com/



Exploration update 3rd August 2006 - Red Rock Resources PLC said a significant new iron discovery has been made at its Central Yilgarn Iron Project in Australia. Jupiter is targeting extra iron ore tonnage of over 20 mln tonnes from the discovery. Production from the Central Yilgarn Iron Project is planned to be crushed on site, trucked to Menzies, 90 kilometres away, and then railed to the Port of Esperance

Exploration Update 9th August 2006 - Manganese Resource defined at Mkushi, Zambia gives an indicated tonnage of 2,365,000 million tonnes of manganese ore


Red River (RVR), which is a stock we rarely hear from, performed a similar trick, announcing the recovery of high-grade iron ore samples from a project in the Pilbara region of WA, and receiving a share price boost of A3 cents (20 per cent) to close the week at A18 cents. (courtesy of Minesite)



PLUS MARKETS LINK
http://www.plusmarketsgroup.com/details.shtml?ISIN=GB00B0CQLF79

Red Rock Resources plc said it has signed a
deal with Zambian firm Chiman Manufacturing Ltd for the processing of manganese
to produce ferromanganese.
The mineral exploration and development company said Chiman will provide
crushing, preparation, and processing of ore supplied by Red Rock's Zambian unit
from stockpiles and surface material at its Chiwefwe mining license.
The company added it expects to make first deliveries shortly.





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thanks I'm in RRR and RGM looks interesting but watching that one

pumben
Have a look at MVC

Jms stake gets bigger each day yet the mm's keep dropping the price although 0.5p premium for 100k buy

na sdaq
RRR and RGM are now on sets.

Nice Set Of Results. 22 December 2010

The Future

Exploration continues at Migori and Arthur River, where we expect news shortly. We hope to realise a profit from our holding in Kansai Mining Corporation, our partners at Migori. Also, we expect to work with Resource Star Limited and Cue Resources Limited to reap the benefits of our investment in uranium and rare earths.

We expect continued progress in steel fields from Jupiter which we expect to be active in exploration, mine development and corporate deal making. We look forward to the declaration of a JORC Resource at Mt Ida. We will seek a way to give our Shareholders the ability to measure and trade the market value of our Mt Ida royalty.

We will drive ahead with our gold production in Colombia, looking to add new properties and we will work closely with our colleagues in Costa Rica on new opportunities. We expect to exercise our option to acquire over 50 per cent of MFP during the Company's current financial year.

The current year will be one of continued progress. We are aware that achieving the same levels of growth will be harder, but it is achievable, and becoming for the first time a producer with regular cash flow will be an important milestone for us and open up many new opportunities. We are staffed and equipped for growth.

Andrew Bell

Chairman & chief executive

22 December 2010

http://moneyam.uk-wire.com/cgi-bin/articles/201012230700115007Y.html

StockMarketWire.com
Mineral explorer and investor Red Rock Resources plc reported a pre-tax profit of 4.75m for the year to June 30 against a 2009 loss of 0.93m.

The profit was mainly a result of a substantial gain on disposal of assets to Jupiter Mines.

Revenue from management services was 9k against the previous 3k.

Total revenue and net gains from sales was 6.1m, previously a negative 39k.

Chairman and CEO Andrew Bell said Red Rock was moving towards production in some of its associated companies and looking at the possibility of declaring an interim dividend in early 2011.

Dated: 29 December 2010

Red Rock Resources plc announces that it has placed 4,227,967 new ordinary shares of 0.1 pence each in the Company to a single institutional investor at a price of 14.1912164 pence per Share. The proceeds of the Placing are approximately 600,000 before expenses, conditional on the Shares being admitted to trading on AIM.

Following the Placing, the Company's issued ordinary share capital will be 682,439,017 ordinary shares of 0.1p. Application has been made to the London Stock Exchange for the Shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 5 January 2011.

SP perking up abit after a period of consolidation and good statement released from RGM...onwards and upwards!

4x it has challenged and failed at 16.0, so sp clearly needs to break that level with some impetus ..... should that happen, then there may indeed be a few (minor) fireworks

from a couple weeks ago - a reminder..
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=10737967

Sub the placing price which is a bit of a surprise.

Gold has pulled back a bit....but should recover and send the gold stocks higher..(I hope)....

worth a read....


Gold Outlook 2011: Irreversible Upward Pressures And The China Effect
Nick Barisheff, Bullion Management Group | Jan. 6, 2011, 1:14 PM | 9,238 | 12
A A A
URL Nick Barisheff is the CEO and president of Bullion Management Group Inc
.The speech is also presented by Bullion Management Group CEO and President Nick Barisheff in Montreal and Vancouver on January 7th and 10th respectively as part of the Investment Outlook 2011 Series.

Good afternoon. It is a pleasure to return to the Empire Club to discuss the outlook for gold and precious metals in 2011. I know this may appear to some to be an enviable jobgetting to speak to a well-informed financial audience about the one asset class that seems to continually out-perform all others year after yearbut it is a double edged sword.

Ive struggled to find an appropriate simile. The best I can come up with is that speaking about gold is like one of those good news bad news jokes, you know the onesyour doctor phoned with some good news and some bad news. The good news is they will be naming a new incurable disease after you.

The good news is that gold is rising in value; the bad news iswell nearly everything else about the economy.

This year we travelled to the Middle East, the Far East and South and Central America to discuss gold. The different mindsets about gold we encountered there surprised all of us. Most people in these countries see gold as the protector of wealth. In the West, we view gold as something akin to the grim reaper.

Western economists treat the act of buying gold as an admission of defeat and their attempts at disparaging golds steady rise became even more tenuous than ever this past year. Financial tightening will cause commodity prices to fall. Gold is in a bubble. The gold stocks havent confirmed the gold bull. Perhaps most desperate of allThe economy is on the road to recovery. Despite these protests, gold had another remarkable year. It was up 25 percent in 2010, which marked its tenth straight annual gain. Although we are speaking about gold today, I would be remiss in ignoring silvers performance. Silver is up 78 percent in 2010 as it is, like gold, beginning to assume its role as a monetary metal. Platinum was also up 17 percent.

Three Short to Mid-Term Trends

So, today Id like to pick up where we left off last year with a review of three dominant medium term trends that put upward pressure on the price of gold in 2010 and will likely continue to in 2011. Then Id like to look briefly at three longer term irreversible trends that will likely continue to put downward pressure on currencies resulting in upward pressure on gold for decades.

First, the three dominant mid-term trends we discussed last year. These are:

1. Central Banking Buying

2. Movement away from the US Dollar

3. China

Central Bank Buying

In 2009, for the first time in 20 years, monetary gold, or central bank and investment buying, outpaced gold buying for industrial or jewellery purposes. In 2010 China, Iran, Russia and Indias central banks were all significant buyers as they moved cash reserves to gold. In Q3 of 2010, Russian central bank gold holdings rose seven per cent to 756 tonnes. In December we learned that China had imported 209.7 metric tonnes of gold in the first 10 months of the year.

This was a 500 percent increase over the same period of 2009 and on top of their world leading domestic gold production.

By the third quarter, Indias gold imports, both commercial and private, for the year were 624 tonnes, putting them 100 tonnes above the previous years total of 595 tonnes. Fourth quarter purchases could put Indias annual total over 750 tonnes.

China and Russia need to acquire gold to bring their gold reserve ratio to outstanding currency closer to Western central banks. Russia needs to acquire at least 1000 tonnes and China at least 3000 tonnes to remain on parity with the US. Chinese officials have stated publicly that China would like to acquire at least 6000 tonnes. Unofficially they have stated targets as high as 10,000 tonnes.

Movement Away from US Dollar

Last year we quoted a November 2009 story written by veteran journalist Robert Fisk claiming Russia and China along with France, were working on an agreement to trade oil with Arab states using currencies other than the US dollar. As expected, central bankers fervently denied these rumours. The US dollar has since 1973 been the only currency that oil could be traded in. This is the only reason the US has been able to amass nearly $14 trillion in debt. Loss of the petrodollar`s hegemony would have a devastating effect on the US as this is essentially the only reason foreign countries in the past needed to hold US dollars.

On November 24, 2010, China and Russia officially ``quit the dollar`` and agreed to use each others currencies for bilateral tradeincluding oil. Official trading on Moscows MICEX Index began December 15th, 2010.

In 2009, Robert B. Zoellick, made his well-publicized comment that, the US would be ". . .mistaken to take for granted the dollar's place as the world's predominant reserve currency.

And that, . . . looking forward, there will increasingly be other options to the dollar." In 2010 he continued hinting at a new reserve currency made up of five currencies with gold as the reference point. He also called for a new Bretton Woods agreement this year. Mr. Zoellick is no lunatic goldbug. Hes the President of the World Bank.

China

Last month, I was a speaker and panellist at the China Gold and Precious Metals Summit in Shanghai. I can confirm that Chinese buying, both official and public, is a major trend that is not only well in place, but may be the single most important influence on the price of gold in 2011.

As I said, the Chinese see gold quite differently from the way we see it. If we are to understand golds price direction in 2011 and beyond I believe it is essential to understand the mindset the Chinese have built around gold.

Economic Mindsets and Gold

Although the forming of economic mindsets is a complex topic, Id like to simplify how major financial mindsets are created in one sentence. What our government, our banks and financial media tell us about money is what most of us will accept as our financial mindset or financial reality. If anyone doubts the power of government economic policy to shape mass economic reality, just look at how we have changed our attitudes towards debt, saving and economic value over the past 40 years. Our current debt based mindset began to form the day the USdollar, the worlds reserve currency, was removed from its final international peg with gold in 1971.

Different Attitudes about Gold

Although the West shares many common economic principles with the East, as the capitalist banking systems are similar, there is one area where there is a clear distinctionthis is how Easterners view the role of gold as money.

Western governments fear gold. It restricts their ability to create currency.

In the West, governments borrow and encourage their constituents to follow their example.

Banks encourage us to borrow for everything from vacations to widescreen televisions made in China. They tell us we are stimulating the economy through consumption. Generally speaking, the investing public in the West sees gold as a wealth gaining asset to be traded like stocks and bonds. This is why Westerners are constantly fretting about the price of gold in currency terms.

The Chinese government, on the other hand, respects gold. This is evident by the laws they have passed to facilitate mining and private gold ownership. China currently leads the world in gold production.

The government encourages the public to put 5 percent of their savingsyes they encourage savingsinto gold. This is significant because the Chinese can save up to 40 percent of their annual salary. In the West, most middle class families are lucky to break even. The Chinese see gold as a wealth preserving asset that will weather all seasons. This is the difference that I believe anyone who wishes to fully understand golds rising price must comprehend.

According to financial columnist, Sean Brodrick, Nearly 16 percent of global gold demand was absorbed by Chinese households between July and October this year. He adds that Chinese consumers bought almost half as much gold since the global financial crisis began in mid-2007 as all investors living in the West. Clearly, the Chinese public are following the example of the Chinese government when it comes to gold ownership. Former CEO of Newmont Mining, Pierre Lassonde also feels that it will be buying by the Chinese public that will eventually propel gold prices into the stratosphere.

I believe that Western commentators who claim the Chinese will sell gold when interest rates rise and growth slows are seeing from an ethnocentric Western perspective. Retail stores that sell everything from gold statues to gold bullion bars are springing up everywhere. These are not purchases people will be returning in a week to lock in profits.

The Chinese American Currency War

This year, Mr. Bernankes $600 billion of quantitative easing infuriated the Chinese. The act not only debases the value of the $840 billion in US treasuries the Chinese hold, but it also requires them to debase the Yuan which is pegged to the dollar. This causes inflation, which is showing up in rising food prices. Vegetable prices, for example, have risen 20 percent in the past year.

We should remember that higher food prices were the main driver of the Tiananmen Square protests, not the lack of democratic freedoms.

Currency War then Trade War

The ensuing rift between China and the US will probably develop into the major gold related news story of 2011. Currency wars lead to price wars. Weve already seen the start of this as China began putting price controls on Wal-Mart in November. Although all major countries are participants in this race to debase, the battle between the US and China is the most significant. China has been financing the US for years through the purchase of US government securities. In 2010 we saw an alarming decrease in Chinese US treasury purchases. This leads to the vicious cycle in which the Fed have to buy US debt with more currency creation. This leads to more debt and interest payments for the US taxpayer to pay.

Inflation

This term debasement is derived from the Roman practice of hollowing out gold coins and filling them with base metals. Currency debasement leads to inflation. According the Websters Dictionary, Inflation is an increase in the amount of currency in circulation, resulting in a relative sharp and sudden fall in its value and a rise in prices of goods and services. Inhabitants of older countries, who have lived through the destruction of an inflation fuelled currency crisis, do not need to be reminded that gold is the most effective hedge against inflation and a currency crisis.

When we look at a ten year chart of the US and Canadian dollars, the Euro, the British Pound and the Yuan, we see that these five major currencies have lost between 70 to 80 percent of their purchasing power against gold over this 10 year period. In truth, gold is not rising, currencies are falling in value and gold can therefore rise as far as currencies can fall.

Three Irreversible Trends

Clearly, the three medium term trends we noted last year are still firmly in place. Now Id like to look at three longer irreversible trends that I believe will affect the price of gold and currencies for decades. These are:

1. The aging population.

2. Outsourcing

3. Peak oil

The Aging Population

The aging population is a combination of a population that is living longer and the pig in the python effect of a huge tidal wave of baby boomers born between 1946 and 1963 who are just starting to enter retirement age. As people age, they spend less and downsize. GDP and tax revenues are reduced and a much smaller workforce follows the baby boomers so this is a triple whammy. This problem is universal. In China, it is further exacerbated by their one child per couple policy. Governments will have no choice but to create more currency and further debase it.

Outsourcing

Outsourcing has almost entirely destroyed the manufacturing sectors of many first world countries like the US and Canada and much of Europe. The Chinese worker who built your IPhone made $287 a month; this was after a well-publicized raise. The West simply can no longer compete with these labour costs. The United States was the worlds largest manufacturer after WWII and has driven the worlds economy ever since. However, the US consumer can no longer buy things as they lose their jobs. As factories move off shore the high unemployment becomes systemic. Without jobs, the GDP and the tax revenues of the US fall. The mountain of federal, state and municipal debt will become even harder to service and the government will be forced to go even deeper in debt and to further debase its currency.

Peak Oil

Peak oil is the point at which the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. This has already happened in the US, Alaska and the North Sea. In the next few years Mexico will become an importer of oil and theUS will lose its third largest supplier. Our fragile, highly indebted economy relies on this land based cheap oil to continue and it cannot withstand the shock of transitioning to more expensive alternatives. In September of 2010 a German military think tank reported that the German government is taking the threat of peak oil seriously and preparing accordingly.

Numerous studies around the world have concluded that we are very close to peak oil production, which will be accelerated due to gulf drilling bans. This will lead to higher price inflation for most goods. This will be another blow to the fragile US economy, which currently pays less for oil and gas than any of the first world countries. When added to the effects of the waning strength of the petrodollar the results will be devastating. May I remind you that if China, which currently has one tenth the number of cars per capita as Americans, was to reach par with the US, we would need, by one estimate, seven more Saudi Arabias to meet their needs.

These three mega trends will continue to lower the GDP, lower the tax revenue, create higher trade deficits, create higher unemployment, resulting in the need for further currency creation.

This will cause inflation to rise as currencies depreciate in value and create higher universal debt. All of this means the gold price will continue to rise.

Competition for the Worlds Gold

Finally, as a direct result of world-wide debt and currency debasement, more people will be competing for the worlds available gold. We discussed peak oil, but gold is also reaching a peak as fewer and fewer new deposits are being found. Smaller, lower grade deposits with none of the economy of scale benefits of larger deposits are being put into production out of desperation. Mine supply has been in a deficit since 2005.

As safe haven demand accelerates, there will be a transition from the $200 trillion of financial assets to about the $3 trillion of above ground gold bullion. Of the $3 trillion of above ground gold bullion about half is owned by central banks and half is privately held. The privately held gold is largely held by the worlds richest families and is not for sale at any price. The central banks are now net buyers. If the worlds pension funds and hedge funds moved only five percent of their assets into gold, which these days seems quite conservative, gold would trade above $5,000.

So in conclusion, I will say that both mid-term and long term trends are in place to ensure gold and silver will continue rising through 2011 and well beyond. For those of you who are looking for a prediction...last year at the Empire Club, I forecast that the price of gold to be between $1300 and $1500 at the end of 2010. We ended up right in the middle at $1405. For 2011, I recently forecast it may climb to $1,700 to $2000 per ounce based on the last five years performance and the factors I have presented today.

I encourage you to follow the example of those who know how devastating a currency crisis can be and buy gold to protect wealth and not treat it as speculation. Id like to close with a quotation that seems to put all of this into perspective. It comes from Norm Franzs appropriately titled book, Money and Wealth in the New Millennium. He said, "Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves."

Thank you.

Nick Barisheff



Read more: http://www.businessinsider.com/gold-outlook-2011-irreversible-upward-pressures-and-the-china-effect-2011-1#ixzz1BEWkCwAD

Ignoring fundamentals, chart not looking very encouraging atm. Broken through support and now next level looks to be c12p?

not very encouraging at all, wish I wasn't here at the mo.,.

News must be due any time on both Colombia and Kenya.

Chart looks ok to me - hasn't closed below the support line yet. And don't be fooled by the chart plotting AT prices, e.g. AT trade at 13p and chart goes to 13p when 14p offer makes the mid-price actually 13.5p.

Huge increase last few months so retrace not too unexpected - I'm in at 3.5p so not panicing yet - if does fall below 12p then will consider selling 50%...

If it falls below 12p I will add 50%.

martinl2 buy them of gildph you will get them cheaper.

personally expected this - rrr will have news soon - just that other shares having momentum - but that momentum on the others like opm imo will be short lived which is fine depending on your strategy - rrr imo will out last them all

this drops to 12p (i hope so!) i will be topping up - been in since just over 2p - last top up for me just under 13.5p so i am averaging up! lol

end of year target rrr personally anywhere between 50p to 1 - maybe more depndent on factors within rrr control and outside of it

then of course rgm, ggp et cetera

gla