The market cap of Red Rock Resources PLC is about 10% of Winmar Resources Limited and this is very much because the London AIM market in explorers is at an all-time low.
Below are the reasons Winmar had interest in a tailings project in DRC that eventually went to the Chinese. Instead RRR were awarded Musonoi Area 1 that is between Glencore's 90% owned licenses at area 2 and 5. Red Rock are presently finalising a JORC resource at area 1. They also have two other tenements in Lubumbashi, DRC. *** See information at bottom of this post.
1620 Limited an Australian company , 11% shareholders in RRR, have been interested for awhile now in getting them to obtain an ASX quote due to the company's low valuation on AIM. They appear through John Boardman to be trying to accelerate a tie-up wth WFE.
These are the present assets of Red Rock:
JUPITER MINES LIMITED ASX:JMS - Https://www.rrrplc.com/projects-and-investments/steel-feed/ - Red Rock Resources PLC 'RED' holds 17,024,914 shares. Anglo only own a 0.3% royalty in Mount Ida iron ore production. Red Rock still hold 1.2% at present and 0.75% if the full US$8 million payment is made by Anglo Pacific. Daily chart: http://www.advfn.com/p.php?pid=staticchart&s=ASX:JMS&p=0&t=27
MIGORI GOLD PROJECT - Https://www.rrrplc.com/projects-and-investments/gold/migori-gold-project/
Red Rock holds a 75% direct interest in Mid Migori Mining Company Ltd (“MMM”) which controls a 1.2Moz JORC gold resource in Kenya via Special Prospecting Licenses 122 and 202. ❖ There is significant resource expansion potential and ❖ Macalder Tailings - 68koz Au @ 1.7g/t'
https://pbs.twimg.com/media/EEz8BXFWkAIJ4pc.jpgThe Legal issues have been resolved relating to the Migori gold project in South West Kenya. Red Rock is now free to apply for licences for the property, and previous decisions will not be prejudicial to such applications. The beneficial interest in the Kenya licenses has been increased to 100%, and following its restoration it is expecting to be able to form a co-operation with other parties in order to help drive the asset toward production. A Government Minister's Approval is awaited on the mining license.
EL LIMON GOLD MINE - Https://www.rrrplc.com/projects-and-investments/gold/el-limon/
El Limon royalties - value to RRR US$2.95 million.
POWER METAL RESOURCES POW - https://www.rrrplc.com/projects-and-investments/multi-commodity/ - 25,000,000 shares held. Company also has 25m warrants convertible at 1p up to 2022.
ELEPHANT OIL LIMITED: Red Rock entered into an agreement with Elephant Oil limited in July 2015 where it exercised its option to invest £275,000 for a 4.76% stake in Elephant Oil. VIDEO March 2019: Https://youtu.be/8TnDp9CSiHA: Https://www.investegate.co.uk/elephant-oil-limited/rns/benin-farm-in/201903111143354801S/
PARA RESOURCES INCORPORATED TSXV
BR - GOLD - 2,500,000 shares and 2,500,000 3 year warrants exercisable at C$0.30 per para share.
RRR has past losses of over £36 million that should be available to be used against future profits to avoid taxation. If used they could be worth up to £7.2 million to the company.
AMULET DIAMONDS LIMITED - 2.6% share interest costing US$98,032. The Company further subscribed to US$401,961 of shareholder loans. Amulet Diamond Corp, a Canadian special purpose vehicle formed by private investors led by Gareth Penny a former CEO of De Beers.
COMPANY WEBSITE: Http://www.rrrplc.com
Twitter: https://twitter.com/RRR_RedRock
