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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well rrr imo is a very good buy in sp right now - can hardly believe its not sitting at 10p + right now - very tempted to top up and may well do so before the day is out - can not see this going south any further - madness if so - january may well rise quickly - dont forget the junior fund managers etc seeing the year out right now while seniors enjoy their holidays - hence some strange movements elsewhere - gla

belly said i seem to remember earlier in the year that he would be surprised if rrr not an £800M company by end 2011 which at the time equated to 50p / share - didnt happen wonder what his prediction is for 2012 - maybe next year it will happen :-)))

gibby - it isn't; it's barely 3p!

hi cycnic - belated happy xmas and atvb for 2012 - yep i know which is why i have just bought some more at 3.14p - i dont think i'll regret from these levels and when i have freed up some more cash hope to get more if sp not gone too far north (which means i should be ok for a few weeks!!) to get some more

this share is bonkers mkt cap 22m...digitallook screener forecast for next year is a profit of 20m?????

gl

confess this one does not inspire me one little bit and it is a reasonable bet that iron ore prices will be under pressure this coming year as the demand for stainless steel softens

not sure what mini-miner i would buy as an alternative - perhaps none!

============

or perhaps BAO

So you don't like RRR because you think iron ore prices will drop in the coming year, yet will consider buying BAO?

You're a nutcase.

you're spot on!
for some reason i thought BAO was a gold punt, but i don't hold and merely watch out of curiosity as dumbarse No2 Son bought a year ago and failed to heed my advice to bank good profits

mind you, looks as though you should have banked profits over the last 12 months too

always good to read opinions - broadens ones horizons - i am happy here at this buy in sp as rrr already a gold producer and in profit - profit of 20M forecast for next year, fingers in many pies, sp rock bottom imo and i believe before end 2012 will multi bag at least x2 maybe more :-)

by Omarinvestor today......

'A few points to add to Vipassana's notes on the AGM:

AB started the presentation. He felt that some ill-informed comment in chat rooms had been a factor in the recent share price under-performance. He explained the arrangement of the veins and the mining approach the description of which in the recent had led to the misunderstanding that there was a possibility the mine would be exhausted. The vein was known to carry on more deeply and it was only the current horizontal Levels 6 and 7 that would be exhausted – the deeper Level 8 would then be started. [See Dr H’s earlier posting which explained this well.]

He also explained that the fact that the ore Levels 6 and 7 had not been verified to JORC standards did not mean, as some posters had suggested, that the information had not been prepared to good engineering standards or that there was doubt about the information.

Manoli, who is responsible for Colombia, gave a more detailed presentation.

Turnover for Nov 2011 was $969k and operating profit of $380k.

They noted that we had received payments in interest and fees of $653k up to Q3 2011 and that payments of $2.25m and $3.3m were due in the next 24 months.

The problems which had caused production at the mine to come to target more slowly than planned were described as:

- There were no local suppliers so everything needed to be imported. We were not large enough to be particularly important customers to our suppliers and the need to import put us at the mercy of customs;

This problem was being addressed by amalgamating our procurement department with that of other mines which gave us greater leverage.

- The staff we had inherited had not been very professional and it had been difficult to recruit suitable staff. There had been little mining in Colombia in the past 20 years so there were few experienced local staff and it was not a location that was attractive to overseas staff. The quality of the staff was now improving.

- The tunnels and shafts had not been of high quality but these had been upgraded and hence production was improving.

- There had been bottlenecks. One had been resolved with the introduction of mechanical shovels and the bottleneck was now the winch. This was a short-term problem which would be resolved shortly, and then the bottleneck would be the locomotives which were themselves on order,

The short term plan was to achieve 1500 ounces of gold production per month. Costs were fixed at around $600 - $700k a month and would not rise all that much with production.

We were moving from pillar and post production to cut and fill, which was efficient. There was 40% wastage with pillar and post but only 15% with cut and fill.

Kenya

AB was very clear that there our licence was entirely valid and that there was no doubt at all about our position in law. Concerning the issue of political and administrative difficulties with the issue of mining licences, Vipassana has written: “A question was asked about the 'issues' we are experiencing in Kenya and the answer was along the lines of, the company doesn't feel they have an issue...” I would have summarised AB’s answer as being that the company was experiencing some problems. The local people were supportive of us as were people at a high level in Nairobi but there were people at a middling level being difficult. I would have described him as being cautiously optimistic that these problems could be overcome. Applying an AB optimism filter, a more Eeyore-ish person might have described the same situation fairly worrying. AB clearly though expects that the problems will be resolved.

Greenland

There was much exploration work to be done, but initial results had been highly encouraging. My note suggests that he thought 10 million tons of concentrate per annum would be a realistic target for initial shipping [this is my scribble and I can’t really read my own writing – someone correct if this is wrong.]

Jupiter Mines & Mt Ida

Jupiter had made an encouraging start in the joint venture at Tsipshi and were on track to commence production by the middle of 2012. The BFS at Mt Ida was also going according to plan.

AB felt that our Mt Ida royalty as well as being potentially very remunerative if held until Mt Ida goes into production might also be saleable in whole or in part at this stage. As a comparator, he noted the London Mining had recently sold a similar royalty entitlement for $30 million.

He felt that our combined exposure to Mt Ida through our holding of Jupiter Mines shares and our royalty entitlement meant that the company’s overall risk was a bit too heavily skewed towards one project and thought it might be sensible to reduce this to around the RRR’s market capitalisation during the course of 2012. [One or two cynics in the audience may have felt that this was making a virtue of necessity since whilst the company’s cash flow from Colombia will probably finance one of the cash requirements of overheads, the Kenya BFS and the Greenland exploration for 2012 and may finance two it is unlikely to finance all three so some asset realisation will be necessary]

Other

A shareholder observed that share issues at the current share price were undesirable as diluting the existing shareholders’ interest. AB was sympathetic to this argument and made clear that he would keep share issues at current prices to a minimum. He noted that the issues made at lower than 3p during the year had been due to the exercise of options which had been made at market rates in earlier years. '

and you can buy on the open market <3p this morning too

not anymore though 3.15 - 3.21 :-))

i am long here so missing out a point or so not too much of a worry when it flies over 10p next year :-)))) gl

Got some at 3.02p today and 3.12p yesterday. Thankyou cynic and all the other doom and gloom merchants for helping me buy so cheaply :)

i didn't even post - no need!

Issue of Equity
Option Execution re 2012 Greenland Exploration Programme


http://www.moneyam.com/action/news/showArticle?id=4287554

This is a dead horse now.

methought it was a dead duck

horse, duck, whatever lol

good rns out - this means rrr should go further down now

Seems to be going up at the moment.

bau now

Uranium Energy Corp to Acquire Cue Resources Ltd.

RGM have 4,506,385 shares in CUE
RRR have 18,900,066 in CUE.

http://www.marketwatch.com/story/uranium-energy-corp-to-acquire-cue-resources-ltd-2012-01-23-8000

http://www.cue-resources.com/s/NewsReleases.asp?ReportID=503323