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Member Info for MrMagic


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Member Since: Mon, 13th Jun 2011

Number of Share Chat Posts (all time): 8,688
Number of Share Chat Posts (last 30 days): 111

Last Posted: Today 11:19


Post Distribution over the last 30 days




Today 11:19

Today is the first time I've seen trades at the placing price of 0.0315p and also the first trade under that at 0.0305p albeit only for £213.50.
Today 11:14

"More jam....: )"

There's no question that there will be plenty of jam to come. The issue is how many billions of jam jars has that jam got to be spread across when it finally arrives?!
Today 11:11

Before I am shouted down, I'm not talking about the production figures as per those in the RNS 7ht Mar. I'm talking about something which details the finance aspects, how much oil has been produced, what was the cost of producing it, what is the real final profit revenue from it after all costs etc. Something which translates the technical mumbo jumbo into cash sums that investors can appreciate.
Today 10:40

Orslega - sound bites in a PR piece in no way constitute proper formal information for shareholders, either for RRR or NCT holders. NCT RNS way back on 2nd Feb stated that:

"production operations are now commencing and the production rate will be reported in due course after rates have stabilised" (in respect of LM20)

We are now a full 3 months down the line and yet I haven't seen any official production report via NCT or RRR. Surely shareholders have a right to such information? RRR was heavily criticised during the whole Colombia El Limon debacle for failing to provide shareholders with regular gold production reports. Holders could do without a similar situation with Shoats Creek production.

Randy needs to get those figures out imo because the longer he doesn't the more it begins to feel like they would rather not.
Today 10:28

Rampers out in force again.

Let me take a look at oilriches post:

"Alone GRL is worth over £250k"

Yep but as we have seen with other investments, we have no idea if and when AB will sell them for a profit. Jupiter shares could have seen us with £30m a few years ago but weren't all sold at high value. In RGM the Alba holding was sold off just prior to the great HH news flow which would have massively raised their value. Today's RNS says the GRL holding is worth £233,055 compared with an acquisition cost of £112,500. Great so there's £100,000 clean profit. Are we going to sell to realise that profit for shareholders then? Or are we just going to let that profit sit there and raise cash the usual way?

"another £750k that will come in shares from Columbia company, plus £150k payment in august, plus we get royalty payments"

Funny how rampers can never spell Colombia ! The Colombia deal was announced way back last year in Apr/May 2015. All the payments and royalties were detailed in there. Therefore they are all already priced in to the SP, long since. The royalty is a 3% net smelter return and is there until it pays $2m after that it drops to 0.5% NSR until a further $1m is received. A broker report was issued by Dowgate Capital on 20th Jan this year. Concerning the Colombia deal it said:

"Remaining outstanding payments owed to Red Rock come to US$4.45m, of which the royalty element comprises US$3m, spread over an estimated production period of 10 years."

Personally I can't see the point of factoring that royalty in at this stage if it is going to take 10 years to recoup that $3m. I dare not imagine how many shares will be in issue by then !

"we also raised £400k recently"

Yep, and the placing RNS told us that the money was going to fund the Shoats Creek drilling for 2016 and today's RNS confirms that "Red Rock has funded its proportionate share of the cost " in respect of the LM21 WI so presumably some/much of that money is now spent.

"That alone makes up most the current cap without Jupiter, usa asset"

Except that you haven't bothered to factor in any running costs, Admin and expenses costs etc , nor have you listed any liabilities. Adding up a few assets in isolation is somewhat silly imo. You should, imo, factor in the number of shares in issue and the additional number there will be by 2017. The share issue has just been increased by over 50% at a discounted placing price of 0.42p
Today 09:55

"No mention if jam, so Tragic probably out if the loop"

I had to smile at this part:

"With the generation of revenues at Shoats Creek having begun"

So if revenues have begun where is the production report from Shoats Creek? Have NCT holders had any kind of detailed report for LM20? Exactly how much oil was produced in the last 3 months, at what cost, sold at what price etc?
Wed 23:12

I share those concerns thegame.

In the years 2013, 2014 and 2015 RRR raised some £9m through it's various fundraising activities, a great proportion of which was for "working capital". Here we are today, still diluting and with a MCAP of about £2m.
One has to ask, where does all the money go?

The RNS of 28 Oct, 2015 said:

"By early 2016 we aim to start delivering meaningful revenue streams to Red Rock, reducing and before long eliminating the need to fund externally our much reduced costs of operation"

Nice sound bites but the reality is here we are, 4 months into 2016 and we're already diluting heavily and again at a discount to the prevailing SP. A 60% increase in the number of shares since Feb and that's only a fraction of the authority RRR has to issue shares this year. I personally can't help but expect that more shares will be issued given that authority. Until the confetti printing machine is consigned to the skip, I find this un-investable.
Wed 16:44

I don't knock the company Peckham, a company lives or dies by its own actions and whether or not it looks after its shareholders. The company chose to do 2 discounted placings in the space of a month at the (imo) appalling price of 0.0315p. It knocks itself, it deramps itself just like all the other AIM companies doing similar fundraises.
Wed 15:20

" When LM21/LM22 have been drilled and another well brought back online they will around 1mmcfd"

Are you suggesting here that you know LM21/22 will be a successful drill that will result in oil?

I note you didn't mention the awful dilution the company has just done in your "intellectual" list. Will more dilution be forthcoming?
Wed 15:16

Looks like a slow drip downward towards the placing price of 0.42p. Trades at 0.60p, 0.58p, 0.57p, 0.56p, 0.55p.

100m odd shares issued at 0.42p will take a while to shift I guess. Many of the few trades that there are, are under £1000, quite a few under £500. The Twitterati pumpers look to have moved on to the next play. I never take their advice, as I feel they are simply trying to boost their own holdings at the expense of vulnerable PIs.


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