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[inspirational]

I've been a fan of this company for a while having held and sold a few months back making a nice 50% profit in just a couple of weeks. I recently bought back into them thinking they had bottomed out again but now really is the time to get back in as they rose today for the first time in quite a while.

Someone has done most of the groundwork for me here, read this:

http://www.reefnewmedia.co.uk/cmt_be...eInvs_0509.pdf

The above is from a broker so be warned!

This is a medium-term play, news is imminent I believe but it might be a few months away as yet. Get in below 1p if you can but you may have to pay up to 1.25p if the rise today is sustained.

I wont give a target selling price as that depends how long you want to hold for.

I hold 115k of these shares, currently down 9%

Red Rock Resources Website

rrr.l

This news item might be helping stir interest:

JOHANNESBURG, May 21 (Reuters) - Chinese firms are making a second major push into mining and related projects in Africa, using cash reserves unavailable to Western competitors to scoop up assets at steep discounts, a seminar heard on Thursday. With many mines struggling due to the slump in commodity prices that followed the global financial crisis, Beijing is seizing the chance to get its hands on the mineral resources needed to fuel its long-term growth and urbanisation. "There is a very clear mindset in Beijing," Martyn Davies, head of African investment consultancy Frontier Advisory, said. "They see this as the greatest opportunity for a very long time, and being so cash flush, it's all systems go." Many Chinese companies are state-backed, giving them access to Beijing's massive funding reserves and freeing them from the need to placate shareholders. Western companies are suffering from heavily depressed share prices and an inability to access loan finance due to the reluctance of European and U.S. banks to take on risk. "Chinese state-owned companies are walking around with massive cheque books and cheap debt. Western companies don't have access to cheap debt," said Nivaash Singh, a mining and resources specialist at South Africa's Nedbank. Three months ago, Davies and other analysts noted the global slowdown had forced Chinese businesses to close operations in Africa and prompted rethinks of some multi-billion dollar deals. The recovery off the lows in prices of key commodities such as copper has now given fresh impetus to the Chinese juggernaut. Major Chinese-Africa deals range from a mines-for-infrastructure agreement with Guinea, the world's top bauxite exporter, to a $9 billion package signed in 2007 with Congo to build roads, railways, hospitals and schools in exchange for copper and cobalt. For a related factbox please click on:. Earlier this month, copper producer Zambia picked NFC Africa, a subsidiary of China Non-ferrous Metals Corporation (CNMC), to run its Luanshya Copper Mines, a major operation that shut in December due to the economic downturn. Underscoring the strategic importance Beijing attaches to Africa, Chinese President Hu Jintao toured the continent in February to reassure African governments that the forced closure of some Chinese concerns did not presage a wider withdrawal. Last year, Industrial and Commercial Bank of China (ICBC) also took a 20 percent stake in South Africa's Standard Bank as part of a plan to bring together Chinese capital and Standard's expertise in emerging African markets. "There are a number of deals that we're looking at together, and they're starting to come to fruition," said Standard Bank mining specialist Mark Cohen. He declined to give details.

It's fairly risky with a good potential upside, so if you do decide to buy in, bear this in mind as always!

[VicVan]

Well its just gone vertical

[inspirational]

Hmm, fairly volatile today!

This might help:

Miners advance after broker upgrades By Nicholas Paler | 08:56:42 | 22 May 2009 Miners were seen topping the FTSE 100 this morning after brokers including Goldman Sachs become more positive on the sector amid looming shortfalls of key commodities. In a metals and mining strategy update, Goldman Sachs announced it was upgrading a number of stocks, as well as lifting target prices on some groups, amid higher expectations for Chinese economic growth in 2009 and 2010 which could lead to bottlenecks in supply by 2011. In something of a step change, the group said it was changing its stance to favour companies with significant exposure to commodities with upcoming supply constraints, replacing its previous view where it aimed to avoid companies with balance sheet risks. The main commodities it expected to suffer supply constraints as early as 2011 were copper and iron ore, as opposed to nickel and aluminium which it said would not have capacity issues until 2017, and as such it has revised its views on mining companies with high exposure to the two metals.

I don't think I mentioned it but Red Rock Resources Plc is an exploration and mineral property investment company focused on the discovery and development of iron ore, manganese and uranium

[VicVan]

In with first bite at 1

[inspirational]

Good luck!

Someone agrees with me:

Leading source of Financial News, Investor Forums, CEO Interviews, Financial Columnists, Stock Information - Simple Investments says ’buy’ Red Rock, higher valuation warranted - Red Rock Resources

They recently diversified into gold as well.

[VicVan]

second bite at 0.9
Erk!

[inspirational]

I paid 1.2p for mine so I've no sympathy!

Good support at 0.8p if the worst comes to the worst:

RRR - Red Rock Resources Plc - Google Finance

I'm holding.

[inspirational]

It's up 36% this morning, mid price 1.23p but there's no news.

Looks like the MMs are happy to take stock though.

[cheekymonkey]

I bought these several week ago, Until today I've been making a loss, I've been searching for news but can't find nothing. I'm thinking of reducing my holdings (maybe down to just free shares) unless there is some news out there to say otherwise. Looking at the long term picture at best my target for this stock was around 2p for RRR. So I'm thinking of switching. I think there are more profitable stocks out there especially for the long term.

[inspirational]

Sounds good, a quote (allegedly) from Andrew Bell, CEO of RRR found on another site:

Just come off the phone from a very informative conversation with the ever agreeable Andrew. Main points: - no RNS will be released today re. share price movement - very aware of the difficutlies of PIs buying in yesterday and today (knows of a £50k buy that MMs wouldn't put through yesterday) - believes that movement is down to the grossly underpriced stock (estimates should be currently about 2.5p) having been way oversold - thinks value is further strengthened by Jupiter price rise with current holding worth about £10m (RRR will be taking up the rest of their option up to 92m in Jupiter when prudent) - confirms that major Chinese and Korean interest in huge magnetite reserves of about 300m tonnes (reading between the lines this isn't going to be too far away) - RNS will be relased shortly relating to another matter that should have positive effect on the SP - other things going one other than Jupiter that will be released in due course that is very positive - always happy to talk to investors and very optimistic to say the least

Chinese interest sounds especially good!

Another RNS due soon, if you're thinking about getting into this stock then it would appear best sooner rather than later, I'm holding!