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Member Info for MrMagic


Member Since: Mon, 13th Jun 2011

Number of Share Chat Posts (all time): 7,100
Number of Share Chat Posts (last 30 days): 38

Last Posted: Fri 16:48


Post Distribution over the last 30 days




Fri 16:48


Yep I tend to agree which is why I queried this. First part talks about £445K. The 2nd part talks about £45K, £100K and £300K separately. I can't see where BAM BAM gets 600m from. The nominal price of shares is 0.1p (AFAIK) so £445K translates to 445m shares does it not?

Regardless the various fund raises this year so far have been:

21 Jan - 76.5m (placing)

24 Jan - 30m (2013 CLN)

30 Jan - 11.3m (SIP)

24 Feb - 40m (2013 CLN)

04 Mar - 21m (DS private placing)

21 Mar - 53.4m (2013 CLN)

07 Apr - 15.7m (SIP)

30 May - 39.7m (2014 CLN)

25 Jun - 75.3m (2014 CLN)

The above totals approx 363m

There then remains approx £260Ks worth of the current £550K CLN to convert, which at current SP (0.26p) would be another 100m shares or so taking us to 463m shares.

So I'm a little confused. Is it possible that some of the shares in the above list are not applicable to the yearly allocation? But either way we seem to be close to that 445m figure. What are we missing?
Fri 15:24


Has anyone read BAM BAM's suggestion over on ADVFN that :

"RRR only has the authority to raise £300,000 going by the last placing price.

An EGM to request renewed authority looks likely around early September time."

http://uk.advfn.com/cmn/fbb/thread.php3?id=29066581

His theory is that at the last AGM, authority was granted to issue 600m shares between then and the next AGM and that about 468m of those are already accounted for in 2014 issues and the current CLN. Personally I'm not clear on the numbers as there are a lot of different numbers mentioned in the AGM PDF so would be helpful if someone could clarify. PDF here: (http://www.rrrplc.com/files/5313/8485/9601/_0_RRR_ar13_NOM.PDF ).

If he is correct then this is an area to watch imo.
Fri 15:02


Really no need for such offensive posting. We're all frustrated, many of us sick of the same old MO of the company, but we can surely communicate between ourselves in a civil manner?
Fri 14:06


"this sp will rocket probably back to 1p as it will stop further dilution "

That's pure speculation TBH and I'm not in agreement. The initial $2.5m equates to just £1.47m at current rates. Just tot up how much money has RRR already raised via issuing of shares and CLNs just in 2014 so far, just for debts and working capital!! £1.47m will not go far imo. Equally there is no way that it will see an end to YAG imo. The only thing that will achieve this imo is a steady alternative income stream to the issuing of equity. When the £1.47m runs out and also the following £588K from tranche 2 payment, significant income will still be needed so it will be back to the norm imo.

I agree with you that there are potential income avenues in the future pipeline as you have highlighted, but we really have little idea how long it will take to realise their value. Ideally, for me, IF the mine is sold, then the £1.47m and £588K should be quickly devoted to something that will generate a steady income but it doesn't really seem enough to achieve that. I think 0.50p will be about right for a short term rise though it will of course be pumped strongly by the "mob". Whether any rise can be sustained is of course to be seen.
Fri 12:49


"I'm sure I've seen this film somewhere before............................"

not half !


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