Red Rock Resources Forum

RRR and RGM have spent on "administrative expenses" over the last 4 years. Delphic too?

As for Greenland deal is still on.....hmmmmm...really. I mean, really? Who is the buyer, what is the offer, what is the critical path and timetable to close the deal? Why hasn't it closed yet? If you recall the IPCM deal was still on and its "rescindmen" was only squirted out in the small print footnotes of the 2010 Annual Report . So...where is the data...where are the hard facts to give confidence to the "belief" the deal. Is on? If it is such a great asset, why is only 1 alleged interested but non-committal party in the mix? Now then about the £14.5m r

When Omar says "Delphic" he is being Delphic. Seems deliberately obscure and hidden away to me. Simple questions: how much of the loan is being repaid? Why did RRR provide a loan in the first place, hadn't they paid MFP a bunch of cash for the 51%? Is RRR a bank.

IPCM deal....letter to shareholders....admittedly this could be a different deal....can anyone find out the veracity of the information? We seek safe harbour Dear Shareholders and Colleagues, A little after 11.11 a.m. this morning, when I read an email received at that time, we became aware of the announcement put out by Kansai Mining Corporation in Canada. So we knew only a little before you did. This seems an excellent transaction, and we hope it succeeds. We knew of the possibility, and had meetings and discussions a few months ago with Kansai and the acquirer, even in relation to the specific terms, and we are of course in touch with Kansai on a near-daily basis, but we were not aware that matters between Kansai and the buyer had progressed so well and so far. We suspected that the deal might not proceed. We were wrong. We understand that the principal interest of the acquirer group is in the Venezuelan diamonds, and in Bruce Walsham’s skills as a project finder. They have known each other for some time. For us the attraction of this deal is that (a) we retain our JV and earn-in with Kansai unaffected, (b) we dispose of a peripheral asset for a large short-term gain, (c) we get funds to finance our exploration and development, and (d) we gain a financially strong new partner. I am not sure this is a tribute to our skill, unless in investing in Kansai at a very low entry point. It is not, as some have suggested, a tribute to our cunning that we are bringing out this news at short notice on a Friday afternoon. No! Sometimes one just gets lucky. Andrew Bell Red Rock Resources plc 115 Eastbourne Mews London W2 6LQ Tel: +44(0)2070995840

IPCM breaking news (allegedly) International private equity consortium IPCM are reportedly due to announce an all cash takeover of RRR...No final timeframe has been placed on the transaction, no spokesperson for IPCM has been located for comment and no registered office or contact details whatsoever for this company are known. Still, this is very positive news and the deal is allegedly due to complete in a matter of days...subject to shareholder approvals, an EGM and other as yet unstated processes that might involve some perhaps indefinite delays to the transaction completing. Notwithstanding these minor details, shareholders should note the deal valuing RRR at 9.6p per share will see a maiden dividend being declared and everyone should be very excited with this big picture development. In recognition of this amazing deal, the board of RRR will be awarded 2,000,000,000 new share options. In a separate and unrelated matter Yorkville shorters have agreed to buy 260bn shares of RRR at0.1p per share but fortunately for them, they have presold them to PIs for 0.4p (not clear whether this was per share or the whole 260bn) This statement has been issued by "Private Investors Seeking Shares Trusted and Knowingly Excellent" PISSTaKE is a not for profit organisation. (It wasn't but then it invested in RRR and RGM) We seek safe harbour

in truth, i believe dinamite's email was issued inadvertently by your old friend choppedfried. who had, i am assured, many conversations with KW and Affe and if what I am told is true, the great man himself. I am also led to believe that any actions old CF took were on his own initiative entirely. Now I can't recall when CF started sounding his concerns but for those of you who were holding then, and are holding now I guess the question is: was he right to be concerned and if you had acted on his advice at that time, how much of your money would you have saved versus 0.38p on the sell at close tonight? Beware Omar and Granpsav - It feels to me they are part of an inside clique and I am afriad those who say there is no data on which to judge Colombian production and profitability are true. You only have warm words to rely on. I tend to think if there was real good news then AB would be the first to trumpet it loud and clear,.....that he doesn't speaks volumes...as does your friend Omar who uses phrases like "stochastic irregularities" to sound intelligent, professional etc but only serves to confuse and obfuscate. Here's some questions: How much money does RRR spend on mining? How much on administrative expenses? When a company can spend over £12m on adnin expenses in 4 years you have to wonder. And when you add up all the fundraising and shares placements via yorkville, cornhill etc you will find a similar figure raised. £12M ISH in and out again. Not allegations - facts available to all by reading RNS's and annual reports. Not that any of this indicates and wrong doing. Heaven forbid such an interpretation. Still...some more savvy shareholders who understood business might be calling for a forensic audit ...not me though I am as happy as Omar watching the share price plunge, montlhy dilutions, deals with mystery buyers that are always just over the horizon....seems to me the only gold you'll find here is iron pyrites...JOLLY GOOD VALUE TO ME....BUY BUY BUY...then again, Dina - how much have you lost?.

This should go on the stream. Be good to get some positive news on greenland soon.

Welcome to the new Red Rock Resources stream forum! Messages posted in the Red Rock Resources stream will be logged here for posterity.

In my relatively little experience of the stock market (since 2008 crash) I have not seen a single placing where the placing price has been the actual price of the share on the announcement day.

The important thing to consider is the percentage discount. So in this case, its about a 25% discount which is not too surprising I guess. If they'd have gone in at a 50% discount I'd have been _more_ annoyed. Don't get me wrong, I'm annoyed about it, but equally, if an investor is taking 60 mill shares they are bound to want to , and be able to, haggle the price.

There's no right or wrong answer I beleive. It's just a case of making the best informed judgment with the info we have to hand and from experience

Time will tell!!

The equity issue is a pain in the balls but I still have long term faith here... If the institutional investors are willingto pay 1p then so am I. But I am not happy at all with the way this issue was not conveyed in the conference call.

He should stop treating shareholders as kids and just tell it to us as it is rather than sugar coating the bad news. Shareholders would appreciate a bit of straight talking. We are all adults and we can take it!

If he'd have told us about the issue in the conf call then it wouldn;t have been a shock yesterday.

I think what shareholders here are really yearning for is a bit of honesty and transparency.