Red Rock Resources Forum

red hot resources

were off to the races

ticking up nicely now start of the long road to recovery and riches for us shareholders

ED ROCK RESOURCES PLC Update re Kansai Mining Dated: 1 October 2010 Red Rock Resources plc ("Red Rock" or the "Company"), the gold mining and exploration company with projects in Kenya and Colombia, and interests in steel feed and uranium, notes the announcement made yesterday to the NEX board of the TSX Venture Exchange by Kansai Mining Corporation ("Kansai", NEX:KAN) that it has reached agreement with IPCM, an international private equity group, to sell Kansai's interests in two of its subsidiary companies, Mid Migori Mining Company Limited ("MMM") and Compania Minera Adamantine C.A. for a total cash consideration of C$40 million. The agreement is subject inter alia to Kansai shareholder and regulatory approvals, but Red Rock expects to support the transaction and it is expected that on completion Kansai shareholders will receive a total C$0.275 per Kansai share with CS0.240 expected to be paid by approximately 20 December 2010 and the balance of C$0.035 on final settlement. Red Rock's acquired a holding of 10,000,000 new Kansai shares, as announced on 30 November 2009, for a total consideration of C$100,000. As announced on 3 December 2009, Red Rock has an option to acquire an interest in a further 29,629,000 existing shares in Kansai, bringing the number of shares in which it is interested to 39,629,000, or 35.2 per cent of Kansai's issued capital as enlarged by the issue of the new shares. The option, which was acquired for C$360,000, is exercisable for a total further consideration of C$10. Red Rock intends to exercise this option and, on the assumption that the Kansai IPCM transaction completes, would expect to receive a total C$10,897,975 (approximately £6.7 million) subject to any relevant Canadian withholding taxes in return for its total investment of C$460,010. Red Rock's interests in MMM will not be affected by the Kansai IPCM agreement. These interests were acquired pursuant to an agreement with Kansai dated 14 August 2009 under which it agreed to acquire a 15% shareholding in MMM for a total consideration of US$725,000, of which US$350,000 has been paid in cash and the balance has been paid in Red Rock shares. A further 45% shareholding in MMM is issuable to Red Rock upon completion of a bankable feasibility study on the Migori gold project by September 2015

Take the test: go read all the RNS's from 2010 today. Calculate all the fundraising / placings..how much has been raised? Then go to the annual reports for the same period and calculate how much money has left the company via "administrative expenses"

check 2005 - 2014 - history of dilution an d shareholder value destruction while AB creams the cash for himself

AB investment are not investments...ask yourself if RRR is so good, at such knockdown prices - why does he hold so little stock...? He takes all the money, you take all the losses

Did you read the notice? The samples were taken in 2013...18months to publish results.??? By the way, the more esoteric the report and the more official it sounds in reading, the more garbage it is. You are being played yet again. This is Bell's modus operandii. Be warned. Take at look at the Housing Loan Corporation business..

More bent than a 5bob note. Who is IPCm? How much money has Bell squirted out of this company? How much has Yorkville made shorting the stock?

you are being played again..."high net worth are dumping shares on pis" ..they've been given at 0.0065 and have been selling...Colombia is just like it was when IPCM were going to buy it..who? And the grades..remember...all billy bullshit...bring back Choppedfried