RRR - about to rerating and breakout

londonz · Post by **londonz** » Tue Feb 26, 2013 11:58 pm

check RNS - expected confirmation of partial sale of Greenland asset will be worth usd 10.7m (ie around gbp7m). current market cap of RRR now only 11m.

RRR assets including producing gold mine in colombia (if this is sold, will be worth around 20m minimum i think??), kenya, still retain 29% of greenland and also shares in other investment such as JMS. so not all these assets being valued, including cash of greenland sale.

so, with potential proceed to be confirmed of 7m, this could rerate RRR big time.

based on RNS, the confirmation could come anytime now.

also worth mentioning, per RNS as well, the intention is that will be no more SEDA drawdown:

RNS 1st Feb:
... The Company intends that this financing (ie drawdown in 1st Feb) will sustain operational levels while it awaits completion of the sale processes of its projects in Greenland and Colombia.

londonz · Post by **londonz** » Wed Feb 27, 2013 8:23 pm

http://www.miningmaven.com/companies/ai ... drew-bell/

On Wednesday 28th November, Red Rock Resources (LON:RRR) released details of a proposal to sell part of its stake in NAMA Greenland for cash proceeds ranging from £6.5-£10million, leaving a residual stake between 14% and 30% and a gross revenue royalty of 2% (shared pro rata). That proposal puts a value on the project of around £13million, plus the royalty element. In other words 130% of the market cap at the time of the announcement, attributable to just the one project.

Red Rock is also in the process of selling its stake in its Colombian gold operations, has a significant interest in gold operations in Kenya (already with a plus one million ounce resource) and is holding 60million shares in Jupiter Mines (ASX:JMS), which although currently lowly priced, has a mark-to-market value of some AU$6m with obvious potential for a significant rerate.

In this exclusive MiningMaven podcast interview, Chairman Andrew Bell gives investors his take on the Greenland news and his views on the Company’s prospects heading in to 2013. We hope you enjoy listening.

londonz · Post by **londonz** » Wed Feb 27, 2013 8:54 pm

broker report:

http://www.rrrplc.com/files/9913/5720/3 ... .03.12.pdf

londonz · Post by **londonz** » Fri Mar 29, 2013 10:33 pm

per iii:

been exchanging a couple of sms with AB yesterday/today myself.

AB would like to buy shares RRR but since he still have more market sensitive info re greenland and colombia hence he is not able yet.

potential buyer re greenland is now re-arranging fund from another bank and AB is very positive on the completion of it.

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as we can see, we have been drifting on relative low volume of trading and spread buy/sell is relatively large as MM making a killing. those who able to buy/top up sub 1p is very fortunate.

with decent buying, this will fly north. Strong BUY !!

londonz · Post by **londonz** » Wed May 15, 2013 4:09 pm

another piece of puzzle/

YA global has closed all their shorts for RRR yesterday. YES, thats very good news implying that no further SEDA drawdown for RRR

and perhaps, no further drawdown due to greenland worth several millions is about to be finalised in the next few days/weeks?

remember, market cap for RRR at the moment only just below 5m!!

londonz · Post by **londonz** » Sun May 19, 2013 10:03 am

expecting Greenland deal to be finalised within days now.
20m deal value (at least), comparing to RRR market cap of about only 4m.

- international transfer from cyprus above 1m is allowed (subject to approval)
http://www.centralbank.gov.cy/media/pdf ... 170513.pdf

also, if and only if buyer account is within any of these 8 banks, then all restrictions removed (i believe they can transfer any amount and requires no approval)

http://www.rcbcy.com/
"For the "international" clients of the Bank, restrictions on all transfers of funds and cashless payments have been removed. "

http://www.edmontonjournal.com/business ... story.html

"Cyprus exempts international clients of another 8 foreign banks from capital controls"