Red Rock Resources Forum

yep....another bell trainsmash ahead

dear oh dear oh dear...can anyone stop omar's verbal incontinence....at least we know one thing...he has no more insight than that available in a primary A'level text book.....the difference however between economics and commerce is small but hugely significant: Every economic argument begins..."assuming.." and anyone worth an ounce of credit in business says "never assume anything"...so let's not assume. According to a 2014 research paper by Jonny Hesthammer and Hans Gebauer "Over the past four decades, commercial exploration success rate has remained surprisingly constant at around 25% worldwide. The same success rate is also found for more than 300 wildcat wells offshore Norway during the past decade. The introduction of 3D seismic and other technologies combined with an ever increasing knowledge base have not changed this"...So a generous soul like Omar would claim a 25% cos whereas I would note a 75% failure rate. Furthermore, go see the Oct 1st 2010 RNS regarding the mooted sale of assets by Kansai Mining, the $6.8million dollar upside for RRR - and the $500k transfer to Kansai for equity....how we all whooped with joy. Only the deal was well.....hmmmmm..and there's $500k unaccounted for.......Of course you wont find any explanation from this from Omar...nor any explanation as to how you value a company that can't produce accounts...nor can he provide a basic accountancy textbook to explain the process

Dear oh dear oh dear....OMAR!! You don't place a value on an asset that might exist, you place value on assets that are proven...ever heard of JORC....so applying an arbitrary £1m to IC is pointless...until it has value it is worth nil....meanwhile the rest of his pontification is empty rhetoric. Ifs, maybes...but the real clincher is the high risk, high reward. hands up any PIs who have experienced high rewards? The risk is with PIs - actually not a risk at all - it's a guaranteed cert you will lose your shirt...the rewards are all ABs and his cronies. Fo not listen to a word Omar says - he is inviting the gullible and the greedy to lose money and further enrich AB. So e might think this is al about Freemasons helping each other out. I couldn't possibly comment.

Director of Elephant Oil Gavin John Burnell also director of Goldcrest Resources and John Watkins, Director of RRR also a director of Goldcrest Resources, mmm interesting [link] [link] conflict of interests?

but for now, let's pause and breathe....and consider one other piece of information....kansai mining was subject to a cease to trade order imposed by the Alberta AND british columbia securities commissions for failing to produce accounts...so how could any value be determined for its assets and stock?

SORRY.. So RRR now "OWNS OR CONTROLS OR HAS THE OPTION TO OWN AND CONTROL...37.96% OF KANSAI".....

The "a shareholder" was i believe Thomas Crom the FD - and the price per share paid $0.05...we will come back to that but according to the RRR RNS' ...RED ROCK RESOURCES ACQUIRES OPTION IN KANSAI MINING CORPORATION London, United Kingdom- February 1, 2012 - Red Rock Resources PLC ("Red Rock") announced today that it has acquired from a shareholder of Kansai Mining Corporation ("Kansan an option over 5,923,237 common shares in Kansai at an aggregate purchase price of the greater of (i) U5$0.05 per common share, and (ii) 85% of the amount of the valuation of Kansai's assets (to be undertaken by Red Rock), at any time in the next four years. The option is exercisable for $1. If the option is exercised, the common shares would represent in the aggregate approximately 4.94% of Kansai's issued and outstanding capital. After giving effect to the transaction, Red Rock now owns and controls, or has the option to own and control, 45,552,237 common shares of Kansai representing 37.96% of the total issued and outstanding common shares of Kansai. Red Rock acquired the common shares for investment purposes. Depending on market and other conditions, Red Rock may, from time to time, increase or decrease its ownership, control or direction over the common shares or other securities of Kansai. For Further Information: Andrew Bell +442074024580 or Red Rock Resources pic Chairman +447766474849 Sandra Spencer +442074024580 or Red Rock Resources pic Public and Investor +447757 660 798 Relations Phil Davies/David Porter +442074440800 Religare Capital Markets Nominated Adviser Nick Emerson +44 1483 413500 Simple Investments Ltd Broker Updates on the Company's activities are regularly posted on its website, www.rrrplc.com

but wait, there's more....the day before RRR said....RED ROCK RESOURCES ACQUIRES OPTION IN KANSAI MINING CORPORATION London, United Kingdom- February 1, 2012 - Red Rock Resources PLC ("Red Rock") announced today that it has acquired from a shareholder of Kansai Mining Corporation ("Kansan an option over 5,923,237 common shares in Kansai at an aggregate purchase price of the greater of (i) U5$0.05 per common share, and (ii) 85% of the amount of the valuation of Kansai's assets (to be undertaken by Red Rock), at any time in the next four years. The option is exercisable for $1. If the option is exercised, the common shares would represent in the aggregate approximately 4.94% of Kansai's issued and outstanding capital. After giving effect to the transaction, Red Rock now owns and controls, or has the option to own and control, 45,552,237 common shares of Kansai representing 37.96% of the total issued and outstanding common shares of Kansai. Red Rock acquired the common shares for investment purposes. Depending on market and other conditions, Red Rock may, from time to time, increase or decrease its ownership, control or direction over the common shares or other securities of Kansai. For Further Information: Andrew Bell +442074024580 or Red Rock Resources pic Chairman +447766474849 Sandra Spencer +442074024580 or Red Rock Resources pic Public and Investor +447757 660 798 Relations Phil Davies/David Porter +442074440800 Religare Capital Markets Nominated Adviser Nick Emerson +44 1483 413500 Simple Investments Ltd Broker Updates on the Company's activities are regularly posted on its website, www.rrrplc.com

so that's approximately 28.8% of kansai....

now here is the last filing Kansai has made on SEDAR...see the date: FOR IMMEDIATE RELEASE RAB Special Situations (Master) Fund Limited Disposes of Shares in Kansai Mining Corporation London, United Kingdom – December 12, 2011 – RAB Special Situations (Master) Fund Limited (the “Filer”) announces that on September 29, 2011, it disposed of 29,629,000 common shares (“Shares”) of Kansai Mining Corporation (the “ Issuer”), a British Columbia based mining and exploration company. The Shares represented approximately 28.80% of the outstanding Shares of the Issuer. Immediately after the disposition, and as of the date hereof, the Filer had ownership of and control over no Shares of the Issuer. The Filer disposed of the Shares pursuant to an option agreement dated December 7, 2009 between the Filer and Red Rock Resources plc (“RRR”), whereby the Filer sold an option (the “Option”) to purchase the Shares to RRR subject to certain conditions. At that time, the Shares were subject to cease trade orders (“CTOs”) issued by the Alberta Securities Commission (“ASC”) and the British Columbia Securities Commission (“BCSC”). On February 18, 2011 and March 10, 2011 the BCSC and ASC, respectively, issued partial revocations (amendments) to the CTOs to permit the transfer of the Shares pursuant to the Option. Other than the partial revocations, the CTOs remain in effect as of the date of this press release. Notwithstanding the partial revocations of the CTOs, the transfer of the Shares was not effected by the Filer’s Canadian custodian of securities (which held the Shares in trust for the Filer) until September 29, 2011. As a result, the Filer continued to hold the Shares until September 29, 2011, when the custodian transferred the Shares. The Filer disposed of the Shares for investment purposes only and not with the purpose of influencing the control or direction of the Issuer. The Filer may in the future, subject to market conditions, make additional investments in or dispositions of the Issuer’s securities. The Filer is located at P.O. Box 309 Ugland House, George Town Grand Cayman, KY1-1104 Cayman Islands, British West Indies. For further information please contact Simon Gwyther at +44 (0)20 7389 7000 or fax +44 (0)20 7389 0990.