our biggest shareholder.., page-12

Good to see that RRR will be cashed up soon. This is the sort of deal making that Andrew Bell is famous for. Developing partnerships that end up being winners. The part I particularly like is that they invested C$460,000 for a windfall gain of C$10.4 million (yep that's million).

Now if our largest shareholder is so cashed up, I wonder if they will turn their attention to RSL to provide some of that funding to cover the Livingstonia exploration and others.

People often talk about wanting to have a REE investor involved, but we ALREADY have an astute, cashed up supporter in Andrew Bell and Red Rock Resources. In addition, Andrew Bell has already disclosed that he has been in talks with the Chinese in regard to RSL, as mentioned in an earlier post with links. Apparently the Chinese would like a resource that is more proven - perhaps to JORC stage. Anyway, time will tell.

If, for example, RRR had not been a shareholder of RSL and suddenly acquired nearly 30% of the company the price of RSL shares would rocket north. As it's been done over time, people just seem to be blase about it. They're not going to bail anytime soon either unlike some other significant shareholders in other companies do. RRR are going from strength to strength, and from my viewpoint, that can only be beneficial to RSL. Our time will come I believe.

"Red Rock Resources set for C$10.4m cash boost from Kansai Mining stake October 4, 2010 By sgam

Red Rock Resources (LON:RRR) is set for a significant cash boost as its investment in Kansai Mining (TSX-NEX:KAN) is about to realise a massive C$10.4 million gain.

Last week Kansai agreed to sell its interests in two subsidiaries to a private equity group for C$40 million.

If the deal completes Red Rock expects to receive a total C$10.89 million (?6.7 million) for its total investment of C$460,010.

Kansai is Red Rock?s joint venture partner on the Mid Migori gold project in Kenya. Red Rock owns a stake in both Kansai and the Mid Migori Mining Company (MMM).

Red Rock holds a 15% direct stake in MMM, and it has the option to increase this stake further.

The company will take a further 44% interest in MMM should it complete a bankable feasibility study before September 2015.

On Friday Kansai agreed the deal with the international private equity group, IPCM.

IPCM will buy Kansai?s interests in MMM and Compania Minera Adamantine CA.

For Kansai shareholders the deal is worth C$0.275 per share.

Red Rock currently holds 10 million Kansai shares and it has options to acquire a further 29.6 million shares. It told investors that it plans to exercise the options, taking its shareholding to 35.2%, before accepting IPCM?s offer."

source: http://www.sgam.co.uk/red-rock-resources-set-for-c10-4m-cash-boost-from-kansai-mining-stake/

Cheers,
Tangrams