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Red Rock Resources PLC (LON:RRR)

Red Rock Resources PLC (LON:RRR)


Share Price
0.60 p
Change
-0.025 (-4.00 %)
Market Cap
£3.22 m
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Red Rock Resources PLC

Red Rock is a natural resource development company listed on the AIM market in London (AIM: RRR).

EPIC: RRR
Market: AIM:RRR
FRA:R2TA
52-week High/Low: 1.23p / 0.55p
Sector: Mining
Market Cap: 3.22M
Website: www.rrrplc.com

Red Rock Resources PLC

www.rrrplc.com

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Big picture - Why invest in Red Rock Resources PLC


Red Rock Resources PLC Snapshot

Vision & Strategy

Red Rock creates shareholder value by participating in a diverse portfolio of projects and investments with exposure to commodities across multiple stages of the natural resource cycle. With growing cash-generation from its gold and oil investments, the Company has a platform for growth both organically and from new strategic opportunities.

Strategy

Red Rock executes its corporate strategy designed to create value for investors by leveraging its deep portfolio of existing mineral exploration projects, its more recent ventures into cash generative oil and gas plays as well as its many years of transactional expertise. Project development and investments may include all phases of the natural resource development cycle where the opportunity to add and realise value has been identified.

The Company feels that its broad exposure to a series of commodities from gold and iron to oil and manganese well positions it for outperformance as natural resource markets recover. With both early-stage and production assets, Red Rock seeks to generate revenues to cover heavily reduced overheads while ultimately looking to fund future growth from operational cash flow.

Strategic priorities

  • Short term cash generation
  • Longer term portfolio optimisation and disposal
  • Opportunistic investments at the bottom of the natural resource cycle

Group structure

The Company operates with a lean organisational structure designed to minimise overhead costs.

Key performance indicators

At this stage in the company’s development, the directors regularly monitor key performance indicators associated with liquidity, primary cash flows and bank balances; general administrative expenses, which have been significantly reduced and remain very low relative to its peers; as well as share price performance and appreciation.

Steel Feed

Red Rock has Investments in a Producing Manganese Asset in South Africa and a Ferrosilicon Smelter in Bosnia

Jupiter Mines

RRR: Owns ~1% of Jupiter Mines Ltd.
Manganese Production in South Africa
Targeting 3MT+ in 2018-19
Planned IPO April 2018
Payout Ratio of 70% from Tshipi Mine Expected

Steelmin Ltd.

RRR 22% Stake
Initial FeSi Production Targeted for Q1/2 2018
Two Electric Arc Furnaces Onsite
Complex Capacity of 48,720t of FeSi and 9,700t of Microsillica
Projects €35m Rev and €7m EBITDA
Near-Term Production in Familiar Steel Feed Space

Gold

The Company has exposure to gold production in Colombia as well as gold exploration in Kenya, Ivory Coast and Ghana.

Migori Gold Project

RRR: 75% Project Interest
1.2Moz gold JORC Resource
Kenyan Greenstone Belt
Working with Kenyan Ministry of Mining on Licensing Issues
Exploring Partnership Opportunities

El Limon

RRR: Ongoing Disposal
Gold Assets sold in 2015 for $5M
USD1M Promissory Note +
USD3M Royalty Still to be Paid
2017 Production Expected to be
15,000oz
Long Term Goal of 25,000oz per Year

Ivory Coast Gold Project

RRR: 100%
Early Stage Gold Exploration
Underexplored With Significant Potenital
Birimian Greenstone Belt

Oil and Gas

Red Rock has producing oil and gas investments in the United States and interests in petroleum exploration onshore in Benin.

Elephant Oil Ltd

RRR: 4.64% Interest
Onshore Oil Exploration – Benin
Underexplored West African Transform Margin
Large Analogous Fields Offshore - Onshore Accumulation Likely
Strategy to Seek Large Early Stage Exploration Uplift

Multi Commodity

Through its investments Red Rock offers exposure to a wide variety of commodities including metallurgical coal, nickel and nickel processing technology, as well as coal bed methane.

Regency Mines

RRR: 1.69m Shares
Multi-Project Natural Resource Developer
Listed in London on AIM: RGM
Traditional Focus on Base Metal Exploration
Expanding Into Metallurgical Coal Production

Board of Directors

Andrew Bell, MA, LLB

Andrew Bell, MA, LLB

Executive Chairman

Scott Kaintz, BSc, MBA

Scott Kaintz, BSc, MBA

Executive Director

Michael Nott, BSc, MSc, DIC, FIMMM, FMES, FIQ, C.Eng

Michael Nott, BSc, MSc, DIC, FIMMM, FMES, FIQ, C.Eng

Non-Executive Director

Sam Quinn, BA, LLB

Sam Quinn, BA, LLB

Non-Executive Director

 

* As at 4 July 2018, Charles Richard Topham’s holding in Red Rock Resources Plc is 33,255,000 ordinary shares, representing 6.20% of the Company’s issued share capital.

*As at 19 June 2018, Stephen Thomas Cochrane, Susan Cochrane, Thomas Alexander Cochrane & Douglas Cochrane together hold 27,150,000 ordinary shares in Red Rock Resources Plc, representing 5.07% of the Company’s issued share capital. The shares are held via nominees Barclays Smart Investor and AJ Bell Ltd.

*As at 19 April 2018, Peter Gyllenhammar’s holding in Red Rock Resources Plc is 50,149,328 ordinary shares, representing 9.37% of the Company’s issued share capital. The shares are held via nominee, which has not been disclosed to the Company.

*As at 6 April 2018, Andrew Bell’s holding in Red Rock Resources Plc is 38,120,991 ordinary shares, representing 7.42% of the Company’s issued share capital. The shares are held via following nominees: Beaufort Securities Nominees Ltd 5,600 shares, Alliance Trust Nominees Ltd 11,330,834 shares, Rock (Nominees) Ltd 7,011,093 shares, Red Rock Resources Plc Share Incentive Plan 6,328,480 shares and 13,444,984 shares Andrew Bell holds directly and jointly with Stephanie Bell.

Last updated on 04.07.2018
Major shareholders Designation Number %
Barclays Direct Investing Nominees Ltd CLIENT1 71,030,097 13.25%
Vidacos Nominees Ltd CLRLUX2 53,502,688 9.98%
Peter Gyllenhammar* 50,149,328 9.36%
Andrew Bell* 38,120,991 7.11%
Charles Richard Topham* 33,255,000 6.20%
Interactive Investor Services Nominees Ltd SMKTNOMS 29,438,528 5.49%
Stephen Thomas Cochrane* 27,150,000 5.07%
Red Rock Resources Plc Share Incentive Plan 25,738,133 4.80%
Huntress (CI) Nominees Ltd KGCLT 325,476,942 4.75%
Peel Hunt Holdings Ltd PMPRINC 25,322,749 4.72%
HSBC Global Custody Nominee (UK) Ltd 941346 21,950,046 4.10%
Hargreaves Lansdown (Nominees) Ltd VRA 20,848,121 3.89%
HSBC Client Holdings Nominee (UK) Ltd 731504 19,934,748 3.72%
Interactive Investor Services Nominees Ltd SMKTISAS 19,892,718 3.71%
HSDL Nominees Ltd 18,797,724 3.51%
Share Nominees Ltd 16,632,742 3.10%

 

Head office

Business office

Red Rock Resources (We Work)
71-91 Aldwych House
London, WC2B 4HN

T: +44 20 7747 9990
F: +44 20 7747 9998
E: [email protected]

Registered office
Red Rock Resources Plc
Salisbury House
London Wall
London
WC1E 6HQ

Nominated Advisor

Beaumont Cornish Limited
29 Wilson Street
London EC2M 2SJ
UK

AIM Broker

First Equity Limited
Salisbury House
156 London Wall
London
EC2M 5QQ

Auditor

Chapman Davis LLP
2 Chapel Court
London SE1 1HH

Accountants

Silvertree Partners LLP
3rd Floor, 14 Hanover Street
London W1S 1YH

Solicitors

Druces LLP
Salisbury House
London Wall
London EC2M 5PS

Registrars

Share Registrars Ltd
The Courtyard, 17 West Street
Farnham GU9 7DR

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