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Resources analyst Charlie Long sees good times ahead for uranium Watch here

Resources analyst Charlie Long sees good times ahead for uranium


Member Info for MrMagic


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Member Since: Mon, 13th Jun 2011

Number of Share Chat Posts (all time): 10,131
Number of Share Chat Posts (last 30 days): 51

Last Posted: Sat 10:15


Post Distribution over the last 30 days




Sat 10:15

Otago - "My point is that there is a clear value attached to tshipi and a liquidity event is seemingly imminent whether by sale or ipo"

No-one disputes that Tshipi has value, what other posters are saying to you is that the value of any given asset isn't likely to translate into actual cash for shareholders. The Jupiter holding is wielded by the BoD not by shareholders and there is an historical track record with AB and these shares. Blueboy, in his response highlighted the issue of how the BoD use cash here.

If Richard Branson were to donate £9m cash to RRR today, the ramping pundits would say "wow, RRR's MCAP just increased by £9m, it's a multibagger !" and I am guessing you would think the same way.

Yet as Blueboy factually highlights, RRR actually DID raise over £9m in cash via various share issues in 2013, 2014 and 2015. That's £9m of value right there in cash. So tell me Otago , where is that £9m? Where did it go? Why does the company not have a MCAP of at least £9m if it had all that cash? If it was spent, what was it spent on and what value has it afforded shareholders?

When you can answer those questions, then you will understand why the markets don't appear to value RRR's assets at face value. As frustrating as it is, it is AB and his past MO that constantly holds the share back imo.
While ever PIs believe that any available cash will be squandered and not add shareholder value, then the true value of assets and investments is not going to be reflected in the SP.
Fri 15:34

@Hawaii

Anyone who pays for someone to bash dilution dogs on AIM needs their head seeing to imo as those companies bash themselves through their own SP value sapping actions. For the record I am not paid to post , I just say it as I see it and I do not consider the posting of facts to be bashing.

Any short position on RRR or anywhere else would have to be declared to the FSA. They maintain a list of all short positions which is updated daily and freely downloadable. Most here are familiar with it having used it to watch YA Global shorting RRR in previous years.

What you call "income" from the gold asset is infact simply the promissory note element of the sale deal. That element was a $1m promissory note payable by Apr 2018. There were other elements to that deal including the tranche payments (all now paid) and the limited royalties at 3% NSR and 0.5% NSR which jointly cover royalty payment to $3m. All of those sale elements have been widely known since April 2015 when they were announced here:

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RRR&ArticleCode=9x7tah2p&ArticleHeadline=Columbian_Gold_Assets__Sale_Agreement

Why the rampsters keep dredging up those sale details I have no idea, it's all very old news, 2 yrs old in fact !
There is nothing new, except that CML is paying a portion of that $1m promissory note early as per the recent RNS. .
The initial royalty money received for the first 2 months was pathetic, circa $6000, reported here:

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RRR&ArticleCode=gjg2bi9k&ArticleHeadline=Update

Your statement of "In any case there is no need, they have only just recently received the Jupiter Mines dividend" is entirely subjective and baseless. Only the BoD know the current financial situation of the company. The recent interims stated that Current Liabilities were at £1.8m. The Jupiter one off payment of £530k clearly doesn't cover that let alone the yearly admin/exploration expenses of over £800k. All money coming in of course helps and is welcome, but what is needed is real significant repeating revenue/income.

Shoats Creek was supposed to be the project to deliver such income but has proven thus far to be a damp squib (a mere $8,911 received from first revenue distribution). The LM#20 well production then dropped to a tiny 70bopd (14 net to RRR's 20%) and then the well suffered sand ingression. All facts in the RNSs to be read.

Good luck with your (imo) optimistic targets.
Fri 12:10

The flurry of rampers tells the story every time on this share imo lols.

Ice993: "there seems to be a concerted effort to ramp this share, which normally means a placing is on its way"

Yep couldn't agree more Ice. Seems fewer and fewer people fall for the nonsense these days though imo.

Knowldgebank says "please familiarise yourself with Red Rock's current fundamentals" and then proceeds to cite a Youtube clip! You can only laugh. Any genuine poster who wanted to refer to fundamentals would most assuredly provide a link to the Annual Report wherein the company's true financial situation can be gleaned. Such figures don't factor in their posts though.

How much regular revenue is actually coming in right now Knowledgebank? How much is being expended on Admin Expenses and salaries ? Where are those fundamentals in your posts?

Clive205 says " So with cash coming in it should negate the need for a placing."

And yet AB recently requested authority to issue up to 500m more shares here. He wouldn't do that imo if he anticipated that significant monies were going to arrive from any other direction. Could it be to do with the £1.8m current liabilities ?

A look at the fundamentals is certainly advisable, but I will personally steer well clear of the "jam tomorrow" nonsense being tendered by the trading pundits here. Stick to the actual facts imo.
Fri 11:06

"won't be sub next 1p for much longer"

lols. Empty sound bite imo. Can't agree.

There's a $1 million convertible loan note in play at present with YAG (Yorkville) which allows them to convert at 10% discount to the VWAP. Plus AB sought and gained authority to issue up to 600m more shares here at last AGM. Imo, it's all about ACTUAL revenue vs overheads, admin, salaries etc. Jam tomorow doesn't pay the bills unfortunately.
Fri 10:00

OliviaR : "tomorrow hopefully . . . "

lols how much longer will the shameless rampsters claim "jam tomorrow"? They've been saying it for the past year.
When they start using phrases like "this will fly" I know to run a mile ! All we have seen is horrendous dilution imo.

01 Sep 2016 : 3.3 billion shares issued at 0.015p (SP 0.023p day before RNS) to raise £500,000 (plus 133m shares in fees and 444m warrants)

28 Oct 2016 : 7.2 billion shares issued at 0.017p (SP 0.025p day before RNS) to raise £1.25m (plus 1263m warrants)

30 Mar 2017 : 12 billion shares issued at 0.005p (SP 0.0085p day before RNS) to raise £600,000

27 Apr 2017 : 400 to 1 consolidation

Equivalent pre consolidation SP today would be approx 0.003p

Forgive me if I don't agree with your "this will fly" nonsense.
Fri 09:42

Looks like some are making a concerted effort here to push the stock with sound bites and the usual uber fantastical speculations. I wonder why that would be . . . . !

"First revenue distribution from the Shoats Creek petroleum asset received."

A mere $8,911.94 was received from first revenue distribution from Shoats Creek
The LM#20 well has suffered sand ingression since.

"First royalty payment from Colombia Milling Ltd received"
A paltry $6,135.39 was received from first gold royalty payment from Colombia covering 2 months to 30 June 2016

"Administrative costs slashed by a whopping 39.4% whilst employee headcount reduced by 54%."
Last Annual Report stated Admin and Exploration Expenses at £878,119. Recent Interims showed little change.

The article also fails to mention that RRR saw the need to request authority to issue up to 500m more shares here this year. That authority was granted at the last AGM.
Thu 15:10

The article posted there is pretty much a list of sound bites with non of the accompanying detail and a good dose of "jam tomorrow" speculation thrown in. I will endeavour to fill in some of the gaps.

SOUND BITE - "First revenue distribution from the Shoats Creek petroleum asset received."
REALITY - A mere $8,911.94 was received from first revenue distribution from Shoats Creek
(http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RRR&ArticleCode=0papb78c&ArticleHeadline=Update)

Since then LM#20 production fell from 100bopd to just 70bopd (14bopd net to RRR)
(http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RRR&ArticleCode=1feuqa7k&ArticleHeadline=Shoats_Creek_Update)

Then Mayan reported that LM#20 had suffered sand ingression thus:
"LM#20 . . . has suffered from sand ingression problems. The consensus view is that the installation of a Mono well pump will remove the sand which is clogging the well, thereby creating conditions which will enable fluids to flow once again"
(http://www.lse.co.uk/share-regulatory-news.asp?shareprice=MYN&ArticleCode=4yk8g793&ArticleHeadline=Operations_update)

Wells LM#21/#22 were supposed to have been drilled late 2015/early 2016 and yet still haven't been drilled.

Overall Shoats Creek has thus far been very underwhelming to say the least !

SOUND BITE - "First royalty payment from Colombia Milling Ltd received"
REALITY - A paltry $6,135.39 was received from first gold royalty payment from Colombia covering 2 months to 30 June 2016
(http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RRR&ArticleCode=gjg2bi9k&ArticleHeadline=Update)

SOUND BITE - "Administrative costs slashed by a whopping 39.4% whilst employee headcount reduced by 54%."
REALITY - Last Annual Report stated Admin and Exploration Expenses at £878,119
Plus Director's Emoluments - £270,871, Total Staff Costs - £427,494, Current Liabilities - £1,911,492
Recent Interims haven't changed this much.
https://www.rrrplc.com/wp-content/uploads/2017/02/2016_RRR_Annual_Report-NonHyper.pdf
Wed 23:15

Octopus - "Notifiable threshold for non-UK incorporated companies is 5% not 3% though."

Thank you for the correction, my bad.
Wed 19:33

matlot "my opinion is they were a worked sell which is why later only 1.15 was available to sell after these trades had been accommodated.................."

Yep, notable that the large sells late yesterday were just under 3%. If you assume for example they were 2 people then you could have 1,179,612 + 1,173,212 = 2,352,824 shares. Then you have the other trade at 2,173,212.

A notifiable 3% holding here would be approx 2.4m shares

So one possibility is that 2 sizable holders, who have stayed under the 3% level, were keen to bail at this juncture. Just speculation. Impossible to know the details.
Wed 16:27

It's clear from the relative tiny number of trades that no one falls for this stuff anymore. Obvious whats coming imo.


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