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Michael Masterman talks on WRES potential & Tungsten market

Member Info for MrMagic

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Member Since: Mon, 13th Jun 2011

Number of Share Chat Posts (all time): 9,933
Number of Share Chat Posts (last 30 days): 96

Last Posted: Wed 19:25

Post Distribution over the last 30 days

Wed 19:25

Dreaming Booboo old chum

The markets know AB all too well imo. There is history and form there.

Of course the confetti matters ! It rises significantly every year just as with RRR. Share issue has already been increased from 380m to 477m so far this year in just 3 months, a 24% increase !

Sitting in the wings are 27m options and 160m warrants ready to be exercised. On top of that there is the authority to issue up to 600m more shares this year as previously highlighted (less what have already been issued so far).

It's a total mugs game imo. The only winners here are the BODs and the people participating in the placings imo.
Wed 16:33

Interesting how booboobooboo hasn't posted on the RGM board for over a year and then starts up again on Mar 18th just when all the warrants have been exercised. Back in Jan 2016 he said:

"Regency are still going to need something close to their at present market cap. just to keep the lights on and the story alive each year and that can only mean further continuous dilution "

lols. Fooling no one imo.

You were certainly right back then. Plenty of shares added. This year is no different. Mr Bell has already requested authority to issue up to 600,000,000 more shares here and that authority has been granted. Placings have occurred in Dec, Jan and Feb with 1 for 1 warrants attached. Plenty more confetti to come imo. The update RNSs are, for me, a key indicator. Each to their own though and DYOR.
Wed 13:39

"We highlight the cost savings on the internal workings of the business"

Admin and Exploration Expenses came in at £400,836 for just 6 months
That's equiv to £801,672 for a year and this for a company with only a £3m MCAP !
It's also for a skeleton staff of 4 execs and 1 admin person. What a lot of paper clips they must get through !! Perhaps they are gold plated paper clips?!

"and how this has enabled the company to make a profit"

Profit was stated as £147,662

yet Foreign Exchange Gain was £235,900

so is the company actually operating profitably at this juncture or has it been lucky to have a favourable exchange rate? Clearly without that Foreign Exchange Gain they would have made a loss.

Current Liabilities stated as £1.8ml. They were £1.9m in the previous Annual Report so little has been paid down it seems. Any suggestions on how those liabilities will be paid? Maybe a question to ask next time
Tue 18:36

More likely it will be sunk into the £1.8m of current liabilities imo !
Tue 18:34

What a lame RNS

"the acquisition, for nominal consideration, of a 20% interest in the Black Creek coal property "

What's a "nominal consideration"? How much EXACTLY is that consideration? Shouldn't shareholders be told that pretty basic information? It beggars belief how they get anyone to put their hard earned into these companies given the RNSs they put out imo. This just looks to me like the precursor update RNS to the next shower of useless confetti or the next set of warrants. I note the previous RNS patterns seen in 2016/2017:

01 Mar - Horse Hill update
02 Mar - Horse Hill Update
09 Mar - Horse Hill Update
10 Mar - PLACING WITH WARRANTS (66m shares for oil activities and working capital)

05 Jul - Horse Hill update
15 Jul - Mambare update
19 Jul - Horse Hill update
30 Aug - PLACING WITH WARRANTS (75m shares for working capital)

09 Nov - Holding RNS (Angus sell down)
25 Nov - Metallurgical Coal update
25 Nov - Holding RNS
20 Dec - PLACING WITH WARRANTS (52m shares for CMC)

10 Jan - Metallurgical Coal update
11 Jan - Holding RNS
18 Jan - PLACING WITH WARRANTS (15m for working capital)

30 Jan - Director Share Purchase (just £10k's worth)
31 Jan - Holding RNS
02 Feb - Holding RNS
06 Feb - Rosa Mine Update

21 Feb - Holdings RNS
22 Feb - Grant of Option over Motzfeldt
27 Feb - Coal Update

07 Mar - Holdings RNS
09 Mar - Coal Projects Update
09 Mar - Holdings RNS
16 Mar - MOA on New US Coal Project

27 Mar - Rosa Mine Update
28 Mar - Coal Update
? ? ?

So, placings with warrants have happened in Dec, Jan, Feb . . . . . .
Tue 09:58

Luke :"Funny how the daily bashers/derampers dont comnent on Friday's 3.25m and today's 3.64 million buys "

Dear old Vini, just how many alises are you operating on LSE???

I did look at the trade you highlighted when you first mentioned it, but I also saw a whole stream of large sells over the past few days each over £10k's worth. I counted between 10m to 12m shares in those sells. I'd hazard a guess that Harry Bambos has completely sold out as he had 12m left at his last holdings RNS. Not a great sign TBH.
Mon 10:30

It is always plainly obvious who the genuine investors are and who the baseless bucket shop style ramprs are.

The rampers simply can not play the ball. They instead play the "man", engaging in disparagements, insults, accusing posters of having agendas etc etc. Had they a shred of intelligence or integrity they could and would simply deal with the issues relating to the company and form cohesive arguments and viewpoints.

That they are usually wholly unable to do that tells you all you need to know.
Fri 13:25

Prospector "The website states 178,731,520 warrants in issue, but I can't find the expiry dates, etc."

Yes, RGM not being overly transparent helpful on the website which is odd given the RRR website lists all the options and warrants in detail (though the website is typically out of date)

A little digging through the many placing RNSs (since start of 2015) identifies the following details. Please check all data as it is possible I have missed some.


10 Mar 2016 - 22,222,222 warrants
exercisable on the following three dates:

1 July 2016, at an exercise price of 0.78p
1 November 2016, at an exercise price of 1p
1 February 2017 (the "Final Exercise Date") at an exercise price of 1.2p

30 Aug 2016 - 75,000,000 warrants
exercisable at 0.8p for 30 months

20 Dec 2016 - 52,500,000 warrants
exercisable at 0.8p for 24 months

18 Jan 2017 - 15,000,000 warrants
exercisable at 0.8p for 24 months

19 Jan 2017 - 12,500,000 warrants
exercisable at 0.8p for 24 months

08 Feb 2017 - 21,000,000 warrants
exercisable at 1.0p for 24 months

Of the above the most relevant are the 0.8p warrants of which
there were a total of 155m

We have received RNS's for the following that have been exercised:

28 Feb 2017 - 18,125,000 exercised at 0.8p
07 Mar 2017 - 17,898,183 exercised at 0.39p
16 Mar 2017 - 576,923 exercised at 1.3p
20 Mar 2017 - 625,000 exercised at 0.8p
21 Mar 2017 - 4,000,000 exercised at 0.8p

Looking purely at the 0.8p warrants that suggests that only 22,750,000 have been exercised out of the 155,000,000, so a great many still to be exercised.

I can't help but think that there are concerted pumps on the chat boards corresponding to the exercise of warrants, but it could of course be pure coincidence !
23 Mar '17

Lemon - " and well over 500k cash!"

lols, £500k doesn't even cover the Admin expenses here !

Same old same old "please please buy the confetti, the shares really will be worth a bomb sooner or later, we hope, we expect, we anticipate . . . . but please just buy the shares!"

Sheer desperation, but the game was long since up imo.
23 Mar '17

"RRR's holding in JMS is a monster"

lols, keep drinking that Koolaid Lemon !

"Big year for the Rock"

Yep. Started out with 467m shares in issue and the Rock now has authority to issue up to 500m more. Big year, but then every year is a big year in this respect !

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