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Member Info for MrMagic


Member Since: Mon, 13th Jun 2011

Number of Share Chat Posts (all time): 7,181
Number of Share Chat Posts (last 30 days): 58

Last Posted: Tue 17:38


Post Distribution over the last 30 days




Tue 17:38


"Stop whining and appreciate the hard work being put in to keep the company afloat.

If you're resigned to "surviving" until the markets turn why not mothball activities until that point in time instead of spending money that creates the need to keep issuing shares? Jupiter mothballed Mt Ida because the market conditions are not good enough, why can't we do likewise?

Omar on II estimated the Admin costs of RRR to be £150,000 per month. In a 20 working day month that's £7500 PER DAY ! Do you agree with his numbers? If so can you explain to us how RRR is spending that kind of money each day?
Tue 15:58


"Unless I'm terribly mistaken, we have NOT undertaken any exploration of any meaningful size as yet"

Actually we haven't even been told that the 3 exploration licenses we were applying for back in April have been granted. You can't do any exploration without a license.
Tue 13:42


"IC is underwritten by Daniel"

How much do you think it costs to obtain ONE exploration licence in the Ivory Coast?

How much do you think it costs to undertake exploration of any meaningful size?
Tue 13:30


"All the lies that THEY spouted lawyers been paid off "

Important to understand who THEY are/were. THEY is not RRR. RRR were told that completion bonuses had been paid. Equally RRR were told by the lawyers that they expected the deal to complete in Aug 2013. It wasn't RRR saying that it would complete in those timescales and indeed AB made his "treat with a pinch of salt" statement in an interview at that time, clearly indicating to me that he was skeptical. Nevertheless I believe it was a huge mislead by the lawyers and they should have been held to account for it.
Tue 12:46


£75K's worth for "shared costs and obligations" yes. That leaves £125K for Kenya and working capital. If the company were expecting $2.5m (less 7% commission) to come in on 10th Sept, why would this £200K be needed on 29th Aug, just 8 working days before 10th Sept? What difference would it make to RGM to have those shares on the 29th Aug or 10th Sept?

The forecasted incomings and outgoings of any company, for the next 3-6 months will likely be known in some detail imo otherwise the finance director isn't worth his/her salt. The issue of equity on 11th Aug for the unusual small sum of £59,300 gave me some hope that only the bare minimum was being raised due to the impending deal, however, the placing last Friday has, at least for me, now presented a different story.


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