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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): 9,085
Number of Share Chat Posts (last 30 days): 153

Last Posted: Today 16:56

Post Distribution over the last 30 days

Today 16:56

Dukey - "Absolute Joke and looks like PJ is aiding the milking process to try and sucker in more investors. ."

Well if people keep buying placing shares then the placings will continue imo.
Today 16:44

Orslega - "Am sure, RRR/GCW would love to get more a slice of the gas action "

lols just endless speculation and rhetoric as ever from the biased ramper. An alternative speculation might be that RRR/GCW don't believe the gas production figures would be anything like the hyped test figures and thus don't feel the investment would be worth it, or that it would take to long to recoup the investment, much like the LM#20 well and likely LM#21/22 if they ever get drilled !! RRR needs investments that will deliver revenue in the short term imo.
Today 14:22

At least there are some people not habitually ramping the nuts of this dilution dog and saying "we've reached the bottom" every week.

Any positive news will imo be the run up to another dilution. That's why there is no volume.

Where is the money? Where is the cash? I'm still asking this basic fundamental question of the rampsters and still getting no answers. Last years admin expenses were $4.3m which equates to £358,000 per MONTH. Where is that kind of money going to come from in the immediate term let alone the funds required for the gas installations highlighted in the recent RNS?
Today 10:47

A realistic list of explanations there labratt. Serial ramper Stuy is to be ignored of course, his Twitter account demonstrates just how far he will go to ramp shares he is invested in.

There are a few other items for your list

"LM20 forecast for 200bpd+ currently around 100bpd
Remediation plant late with no explanation for the reason(although there are rumours)
Concerns over unfunded expenditure for the gas lines.
No cost breakdown for the gas production just gross figures."

LM21/22 failed to be drilled (planned late 2015, then May, now no target dates at all)
Concerns over the $millions expended on Other Admin Expenses last year ($4.3m)
Concerns over where circa $358,000 per month will keep coming from for such expenses
Concerns over the last 2 placings which issued 3 billion more shares (on top of the 6+ billion already in issue)
Concerns over the huge 33%+ discounted price given for those placings
Concerns over the fact that the placing agent is Cornhill Capital Ltd
Concerns over the resulting SP decimation from 0.06p to 0.02p so far this year
Concerns regarding "death spiral" financing
Concerns that the share is being ramped by the same bunch of posters with sound bites and rumours
Concerns that the revenue is tiny compared to the expenditures (according to Annual Report)
The possibility of another huge placing with Cornhill (imo)
The likelihood that if the company Northcote Energy(NCT) has renamed itself to MYN to re-launch itself, that it will also do a share consolidation because 10 billion shares for a £2m company just looks silly (imo).

Definitely a case of DYOR here
Sun 13:48

Bambos - "But when it comes, and I believe it will, current shareholders will see significant added value"

No I doubt that. There was little to no value attributed to the venture BEFORE the licenses were revoked. So even if RRR were to be successful in their appeals, we'd just be back to that same point. Rampers simply cling to and clutch at any scrap of change they can find and then invariably overhype them with misleading statements of MCAP value increase and the like. The only thing that matters here is revenue, of which there is precious little, vs the expenditures.

RRR keeps trying to re-launch itself and convince punters it's all changed. Almost on an annual basis now.

It was a junior explorer, then was more of an investment company (with silly ventures into Dbar oil, Candy Sweets, Cloud Computing and the like), then it moved into oil then it presented itself as "an AIM recovery play" and doubtless the witty wordsmith will already have the next company label already lined up for Christmas.

In the end, what this company is, is a typical lifestyle AIM vehicle that the BODs have milked for some years now, presiding over horrendous SP decimation, shareholder value destruction, and participating in "death spiral" financing. It claimed at the outset of the year that it was changing its ways, cutting costs, cleaning the slate, yet here we are STILL diluting shareholders for cash and yet STILL taking salaries and benefits all the way.

#doesntwash #neverdid #neverwill
Fri 17:11

I don't insult the chairman either Bambos, in fact I have at times defended him against some of the more unsavoury characters that have posted here.

You say you are happy to buy shares yet you appear to have let a previously notifiable holding drop to a non-notifiable holding so not sure what to make of that (correct me if wrong on this). As for PJ, as I have said, he obviously didn't want to be in a notifiable holding position any longer than was required to generate the initial RNS. I don't therefore rate his involvement here at all, he is to me, just the next trader looking for a quick profit. Let him buy 10% then I'll take an interest, until then, just another pundit.
Fri 16:00

Bambos, however bad my or anyone else's investing is, that doesn't excuse anyone else from shamelessly ramping dilution dog AIM companies in order to dupe less savvy investors into losing their money for your personal gain.
Fri 15:56

Glib - "I would like to know where the cuts that were spoken of are coming from too "

When the all-important detail such as you highlight, is missing from an RNS, you can only treat it with a pinch of salt. Where are the cuts targeted? How much has been achieved so far in actual $ per month? How many headcounts are being removed? etc. Until such information is provided the statement in the last RNS is at best just a sound bite. AIM companies tend to ply the shareholders with PR spiel and sound bites throughout the year in their RNSs and then many months later the true numbers are revealed in the Annual Reports. The latter is what we must go by, proper audited accounts. The last such accounts show ridiculously high Admin Expenses compared to revenue. Until that situation is resolved, nothing imo will change here.
Fri 13:18

Helpful - "We need clarity on when all the workovers at SC are going to be hooked up and producing."

I disagree. The future "jam tomorrow" prospects are well established. What you need clarity on is how the company intends to FUND both those projects and the high monthly expenses. That's the immediate issue.
Fri 13:17

Scott, it's what you call being royally hoisted by your own petard !

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