The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
https://twitter.com/HedgehogTrader/status/1087103171342856197?s=19
https://twitter.com/TereaAfrica007/status/1086880059170934785?s=19
Helpful - " I expect a deal will be done to sell Steelmin and RRR will still do quite well out of it but not as well as it looked June 2018."
Why would anyone want to buy an operation that can not produce at a profit? Your "jam tomorrow" nonsense is getting worse!
Note also that it has been many MONTHS now since Steelmin announced they couldn't operate at a profit. It does NOT take months and months to go to an energy supplier and agree a contract for your energy.
I can only personally conclude therefore that Steelmin are struggling to get the kind of energy discounts they obviously need to be able to operate at a profit. Not good then.
Again, why would anyone contemplate buying such an outfit? You're peddling fantasies.
This is just one more failed venture going into AB's oubliette.
Along with Greenland, sold for £1, and Shoats Creek which is being written off.
Meanwhile this BOD enjoys the continuation of their lucrative salaries and the outrageous expenditure of over £800,000 a year on Admin and other expenses. This for a tiddler with a £3m MCAP ! !
What people will do to make money
https://twitter.com/BigGibUK/status/1086289115828678656?s=19
Indeed you are quite right that we can't lose with the CLNs, which is why we do them. Regardless, I have shares in RRR and I think the share price will go up in due course.
In fact, if we thought we were only getting the 10% coupon on the CLNs we probably wouldn't do them. The reason for rolling over the CLNs and extending the life of the warrants was that we think that in due course we will make a substantial equity return. If we make an equity return then so will everyone else.
I must point out that there is nothing to stop other people offering to do CLNs with RRR and with other companies; we have them with other companies too. It is a commercial transaction disclosed in the public domain. Just because you don't have an adviser that can get you access to discounted placings and CLNs doesn't mean it is sneaky; there are plenty of people out there who can get you access.
Further, the conversion right is at 0.8p; you can buy in the market today at a lower price, there is nothing to stop you doing it.
With regards to Steelmin there were two issues last year; the price of electricity and the spending. The price of electricity went through the roof in central Europe because France took nuclear power stations off line following safety issues. Steelmin was buying in the spot market and paying through the nose but that was symptomatic of the then CEO's attitude. There were some minor operational issues but otherwise the plant worked.
Steelmin still has a value regardless whether it is shut down or not. The value would be greater if were up and running but we are where we are. I expect a deal will be done to sell Steelmin and RRR will still do quite well out of it but not as well as it looked June 2018.
RRR didn't have the DRC/VUP deal then, it was chasing tailings deals. If and when Steelmin is sold, I expect the proceeds will be used in DRC/VUP JV. Given the quality of the DRC/VUP JV I also expect that RRR will release funds from elsewhere to fully exploit it.
You will see in due course that those licenses are going to be worth a lot of money. I also expect that RRR will bring Musonoi into production at a low level pretty quickly. I don't know for deffo but my view is that with a bit of work those licenses can be sold for a multiple of the current market cap.
FYI I am not happy about the Diamond deal; I think that was a mistake. I told AB to his face this week that it was a mistake.
DYOR
You were farting on last Year about the possibility of divis/buybacks from Steelmin, value of Jupiter amongst other nonsense.
You and your clients hold CLNs with a 10% apr. You can't loose. Secured investment. Dipsticks who buy on the market can loose it all.
That, my friend, is sneaky.
So posting links about the market outlook for the copper and/or cobalt price is sneaky? Or maybe posting links to RNSs from Para or JMS is sneaky? Or maybe posting links to the DRC and Kenya Cadasters is sneaky?
I post very little comment, it is mostly links to research. Now it may be the case that you are not interested in research because you have made your mind up on Andrew Bell, particularly when it conflicts with your mindset but it is not sneaky.
Whether you and the ex-wives like it or not RRR has landed on its feet in the DRC. The next step is for RRR to put information about its mining plan in the public domain. Now that DRC has settled down I expect AB will be popping out there to finalise everything shortly.
Whether you like it or not Musonoi can be brought into production very quickly.
DYOR
I’m not arguing that Andrew Bell is competent or qualified to be running a raffle, let alone a company like this.
He hasn’t delivered anything...ever.... I just don’t understand the motives of MrMagic. He doesn’t post anywhere else, does he own shares in any other company? If so why not post here too? Smells like a strange vendetta to me and the guy has dedicated years and years to kicking a dead donkey. For what reason? There are lots of other terrible companies out there for you to protect investors from...but you don’t
Turkeyburger - "But the one constant since then has been Mr Magic"
Really?
pretty sure Mr Bell and the other BOD have been a constant
pretty sure the SP devastation has been a constant
pretty sure the dilution has been a constant
pretty sure the trail of failed ventures has been a constant
pretty sure the ramping stooges have been a constant
probably lots of other constants too
If it doesn't take any time out of one's schedule, what harm?
Fair play to Mr magic if he saved some folk their savings.
And those who say ex wife Syndrome, iirc, is a broker who is talking up his clients book?
Pretty sneaky chappy either way.
Ex-wife syndrome.
I sold out of RRR about 8 years ago and hold zero shares here. Just popped in to see what was happening.
But the one constant since then has been Mr Magic. He seems to have a real vendetta against Mr Bell for some reason since the only two companies he seems to post on are FRR and RGM. For the record, I will never own a share in a company that MR Bell is involved with.
However, MrMagic hasn't left these boards since then and doesn't own a single share from what I remember. What's with the obsession??
lol Helpful
just 7 trades showing and 4 of them as sells. You are a laugh.
Greenland sold for £1
Shoats Creek being written off
Steelmin unable to operate at a profit
Yeah this will fly . . . . . . !
DYOR . . . definitely !
Looking at L2 we might be about to move up a bit. Another couple of buys and it should move up.
DYOR
https://twitter.com/AmberMining/status/1084087815410016256?s=19
https://twitter.com/HedgehogTrader/status/1083752733277151237?s=19
https://www.znbc.co.zm/sadc-welcomes-provision-drc-election-results/
You may think so but there is a difference between how the Western MSM see it and report it and how the locals see it. The locals see this as a stability outcome; we will probably see that everyone accepts the result in the next few days. There may be a bit of argy-bargy as politicos manoeuvre for position but otherwise it should be okay: we will see in a few days.
Para looks like it is getting its act into gear. If RRR can get out at a decent profit in the next week or so I think they should take it. Better to de-risk it, let the warrants ride and use the money in the DRC.
DYOR
Lol. The drc isn't sorted helpful. All they managed to do was count some election papers. Big whoop. Now for the real work.
Well it looks like the DRC is sorted and the result won't be a threat to our licenses or ability to mine: it looks like the stability candidate has won.
Para Resources: update out. Nice progress. https://www.bloomberg.com/press-releases/2019-01-10/para-signs-target-pricing-contract-mining-agreement-for-gold-road-mine
There was never a bone to begin with... just a Confetti filled Piñata covered in jam that management will just keep wacking until it's completely empty
RRR recently hit 2 yr low, heading towards all time low.
RGM recently hit all time low.
You'd be better off taking your money into a casino, finding the drunkest slob there and letting them gamble your money.... when they can drag themselves away from the bar... where they'll be spending the money you've given them
Bid now languishing down at a paltry AUD 0.225.
RRR's JMS holding now only worth £2.3m, down from over £4m when Jupiter relisted last year.
That's £1.7m of value loss for a company with a MCAP around £3m. Combine that with the £800,000+ expended on Admin and other expenses a year and there doesn't appear to be much meat on the bone for investors here imo.
https://twitter.com/renegadestyle/status/1082666210729312257