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HA When you been in this share so long you know the patterns - They don't eve try and hide it anymore . . . lol Yes I agree with magic - There are only 2 ways RRR can pay the CLN`s, one is by way of a placing and the other the selling of JMS shares. Looks like its just another step closer to the end of the road for RRR. Whilst A Bell and S Kaintz remain in charge nothing will change - How long people been waiting on Kenya ?? It was imminent a long long time ago - Congo - Another dead duck never ever going to return anything - Just the lastest ramp angle which has failed miserably.
Only 14 working days now before the deadline for repayment of the £1m Convertible Loan Notes arrives.
I note that the Ask above has risen to 0.50p but the Bid remains at 0.40p. Same old same old. Not fooled.
More indication for me of an imminent placing.
My guess is that any placing would be done at 0.35p or worse.
If a placing is imminent then expect a flurry of increased ramping and at least one Update RNS full of forward looking
"jam tomorrow" statements.
The SP will plummet into 0.3 levels on any placing or pawning off of Jupiter shares imo.
Hence, for me, absolutely no point buying before that 19th Dec deadline imo. Might as well wait the 14 days and see if a placing does appear.
DYOR
lol Dougal. Only interesting if you're a participant in the likely placing. Would that be you?
DYOR
https://twitter.com/Lazerblue/status/1200782546600112130?s=19
Tick tock, 4 weeks before the £1m worth of CLNs need to be repaid somehow unless the holders are happy to have them rolled forward for yet another (3rd) year ! Confetti O'clock? You decide.
https://twitter.com/Trader__007/status/1199355493766062085?s=20
Ah, Helpful is back ! Hasn't posted here since 11th Nov, over 2 weeks ! I assume because you have been "inside".
Will you be participating in a placing by any chance? Just a guess . . .
He got Got, boo. He's not running. Stitched up like a kipper.
You gorra lol.
Well said Magic, Andrew Bell UKIP'S candidate for Buckingham and the biggest posh wide boy you'll ever likely to meet has successfully turned a winning hand i.e. Jupiter Mines into a losing one.
I really am hoping he wins , what s total paper bag merchant , with a track record like his it is insane to put himself on the public radar .
A public school boy error.....
You have to feel for poor Helpful, having to post scattergun random Twitter links and other stuff to push contrarian (realistic) posts down the page. 6/7 silly little posts made where one would have done. Helpful is clearly well under here and owns some of the £1m outstanding Convertible Loan Notes which he will never get to convert. Those notes are due for repayment this 19th Dec.
As at end Dec 2018 the company only had £27k in the bank (see Half Year Report)
They also had Total Current Liabilities of £2.7m
Since then they:
- raised £323k from a dilutive placing at 0.50p (look how the SP has tanked since)
- rec'd approx. £250k from a Jupiter dividend
- Sold 1.5m of the "family silver" Jupiter shares to get I guess about £300k
- Another Jupiter dividend is due
Against that are those £2.7m liabilities and the fact that this BOD got through approx. £850,000 last year just on Admin Expenses alone and of course any actual project costs.
Those £1m worth of CLNs have already been kicked down the road from last December, extending their term for a further 12 months and thus incurring shareholders another year of 10% interest on them. They are due to be repaid this 19th Dec.
Where will the money come from for that?
and for the preposterous amounts frittered on Admin and other expenses?
and the remaining liabilities?
It is surely either more dilution with confetti placings or more pawning off of the "family silver" Jupiter shares.
The company has just changed its broker back to Cornhill Capital. I think we can therefore guess which route
Bell will opt for !!
I predict there will be plenty of opportunity to buy these shares in the 0.3p levels before the year is out. All imho.
DYOR
https://twitter.com/chrisjparrish/status/1193930828813864966?s=20
Looks like the Nzuri/Kalongwe deal is finally going through.. https://wcsecure.weblink.com.au/pdf/NZC/02165527.pdf
FYI Kalongwe currently a non-producing copper and cobalt asset
https://wcsecure.weblink.com.au/pdf/NZC/02167835.pdf
Nzuri reckons that the is 302,000 tonnes of copper at Kalongwe along with 47,200 tonnes of cobalt. Kalongwe is a good analogue for Musonoi. RRR reckons that there is 400,000 tonnes of copper at Musonoi along with 24,000 tonnes of cobalt and the required infrastructure is pretty much already there.
DYOR
https://twitter.com/AndyHomeMetals/status/1193895011915575297?s=20
The Company expects to produce a doré bar 2-3 times per month, ramping up to 2,500-3,000 ounces of Au per month during Q1 2020
https://twitter.com/ParaResources/status/1192452700228767744?s=20
So long Madpat.
Nothing changes here, nor will it ever imo while ever the existing BOD remain in position.
Just waiting myself for the inevitable confetti dilution that I believe will come in order to pay down the £1m Convertible Loan Notes whose deadline is 19th Dec. I fully expect a little flurry of pithy Update RNS before that happens to "tickle the fish" so that's what I personally will be looking out for. The fact they just hooked back up with Cornhill as their broker underpins this for me. If I'm right I reckon the SP here will fall into the 0.3p's in no time at all.
As you say, Bell already did a share consolidation here when the SP was at embarrassing levels. Since then the continual dilution has simply continued to decimate the SP. Just take a look at the 7yr+ chart, it's abysmal and demonstrates perfectly the result of a company run as a lifestyle venture. Where does all the money go? Most of it goes to Admin and other expenses. Admin alone ran at approx. £850,000 last year. Between 2012 and 2017 over £11m was expended on Admin and other expenses. Just preposterous. DYOR
Hi, I guess that time has come to share. I lost at least 60k on this share. I , initially, made money so I was hopeful. I am now out, only just recently. In terms of downside... I had millions of shares here but when the company decided to consolidate shares to up the value for AIM purposes when it went to an unsustainable s.p. It took out my ability to to make money outside shorting. I am still moral enough not to participate in that market, I simply buy and sell and stick to the top 250 and NYSE. GLA MP out.
It's still not absolute certain that Andrew Bell will be trying to become the Brexit Party MP for Buckingham. But it must have surely caught his eye that many would be MPs are using their twitter accounts https://twitter.com/jessphillips/status/1190222848763318274 to ask people to donate money to help fund their election campaign.
If Bell does run to try to be the Buckingham MP and he decides that crowdfunding indeed IS the way to help fund his chauffeur driven door to door election campaigning. I don't know of any (certainly not me!) but surely there must be some investors, former investors of Red Rock, Regency mines or POW who will help fund his election bid?
Hope our esteemed leader was able to take his golf clubs with him.
https://twitter.com/RRR_RedRock/status/1191939410633379841?s=19
Fingers very crossed.
In this video from March 2018 https://www.youtube.com/watch?v=eC3EWHcU2ug Andrew Bell and Scott Kaintz were bragging that Red Rock would have (by May 2018) a cash position of around £3.5 million. Yet within months that £3.5 million had quickly gone. Out of that money they could have easily paid back their £1 million CLN (it's due in Dec 2019) but instead they made a bizarre disastrous £1 million loan to Steelmin: no doubt in the forthcoming final results RNS , buried deep deep down will be a quick mention they've written off that approx £1 million Steelmin loan. Year after year Andrew Bell and his useless RRR sidekick Scott Kaintz make incompetent costly RRR business decisions and and yet they keep their cushy RRR positions. I'm quite sure both Bell and Kaintz absolutely love that they have large RRR shareholders who seem so weak.
Lastly, unless RRR CEO Andrew Bell's changed his mind i believe he's soon to be going on a 5-6 week election campaign to try become the Brexit party MP for Buckingham. It seems unlikely that he will be giving up his RRR employment to pursue his narcissistic fantasy. Then again why would he give up his RRR position to pursue his fantasy when he knows he can trample over the larger subservient RRR shareholders?
Keep plugging Solomon Grundy . . . .
How much are you participating for when the inevitable Cornhill placing drops?
The first pour is planned for November 6.