Hernando ~ an interesting viewpoint but sounds like a load of old crap to me... Absolutely no way the prices offered was that low, someone got mugged if they took a paltry offer like that... The amount of drivel which is posted on these boards... GL
I contacted JMS about five weeks ago and the highest price offered for the shares, in house, was 4.5c. The output is good but the Manganese price is so low prospects are not improved. The iron ore prospects in WA are a long way ahead and RRR can see both these as locked up. JMS are unlikely to seek a quotation in the short term.
The ann today was neutral to slightly negative.
BAM Bam Rubble reply
Thanks for the info, sounds like Jupiter was speaking on behalf of Pallinghurst.
4.5c puts a value on RRRs holding of just £691k
Presumably the neutral/slightly negative view is before taking into account that RRR omitted the only real news that came out of Jupiter this week; cost overruns
Due to the depressed manganese market/price and to ensure Tshipi can sustain its capacity and production costs should these conditions last longer, it will spend another R200m ($18.8m) over the next half year, a capital cost overrun of c.R90m (p.6 of the presentation)
This is an alternative view to, JMS will more than cover RRR's market cap Fact posted earlier
I have no idea if what was posted is true but any large holders here might want to give Australia a call to check
Who predicted that it would be a RSL update? Sounds like progress being made. Still not comfortable with branching out of mining, as other shares in my portfolio cover exposure to technology. But hopefully we can claw back some of our investment when we sell RSL. If we se'll I should say...
Stuff on Jupiter is in the presentation from last week - not really RNS material?
"So why are you taking out the $2.5m loan? We don't owe them?? If the sale goes through RRR will get the $2.5m + $1.5m less 7%"
Sorry for delay in responding, been out and about.
The discussion was around Lades valuation of £1.5m for Colombia. What I was saying was that (AFAIK) MFP already owe RRR $2.5m so when assessing how much the mine is actually worth (within the terms of the proposed deal) it seems that we are only getting $1.22m for it. i.e the first $2.5m payment is in effect merely the repayment of the loan. Do you agree?
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