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Don't worry. With Mr Parsons on board that business model is going to go into overdrive. Much more of the same.
Also don't forget that this company was incorporated in 2004 so it has had over 15 years to progress from being a (cough) junior explorer to being a strong income generating company. Yet all it has effectively done is issue billions of shares at ever more discounted prices destroying the SP in the process but giving the BOD a nice salary and copious expenses along the way. It's a well established business model, the problem is it only delivers value to the BOD and their cronies who participate in discounted share issues. imo.
Hawaii: "the confetti share issues with RGM has to stop also. "
You are deluding yourself sadly. RGM (and RRR) have both been dilution pits for years. It will never cease because there's little income and because issuing confetti is the basic business model. It was stated plain as day in an RNS last year in March:
https://www.lse.co.uk/rns/RGM/regency-mines-plc-corporate-update-y89bap8zbuj7876.html
"The current business model of Regency . . . . relies on the ability to access capital by the issuance of new shares to investors to fund ongoing working capital and project development requirements."
Confetti for working capital which as we all know means in no small part the payment of director salaries and ridiculous amounts on expenses.
This will never change imo. You've highlighted perfectly the problem here which is the astronomical amount of shares issued at the discounted price of 0.0275p (2.75p post consolidation). The shares are not worth anything above that price imo which leaves the holders of those shares struggling to dump them onto naive mugpunters at a premium. Small wonder you want some kind of news to try and spike the SP. The problem for those holders is going to be how long before the next pile of useless confetti is issued and at what price? I'd personally expect the next batch to be also discounted which could undermine the 2.75p holders. This cycle never ends imo. It's been steady dilution for the past 7+ years here and at RRR. And yes you are right in regards to Scott Kaintz. It's ridiculous that they removed Bell but left him. The entire old BOD has to go for many mugpunters to even consider looking in here imo. The old BOD here and at RRR have shown themselves to be completely untrustworthy imo. They have to go simple as. DYOR
I am staggered the major shareholders (who clearly had a lot to do with the re-finance etc) did not remove SK at the same time as Bell.
Everyone wants to hear from Parsons about future direction and prospects, wheeling out SK is poor form and an extremely bad strategy, it simply plays into the hands of the massive amount of bashers that work the boards daily.
Having issued 70m shares at 2.75p (out of 86m) it will need significant volume to wash these through the market, that needs material news to excite the market - the confetti share issues with RGM has to stop also.
SK seems to think the share price will not be 3p in 6 months but far higher well bring it on.
Regency Mines PLC
Full interview: Regency Mines 'in the right place at the right time and with the right team' - CEO Kaintz
Regency Mines PLC's (LON:RGM) chief executive Scott Kaintz updates Proactive London's Andrew Scott on the firm's recent developments with its projects and board changes including the hiring of James Parsons as executive chairman.
''We come into work with a bit of a chip on our shoulders'', Kaintz says.
''We're fully aligned, have a motivated team including a new executive chair ... frankly we come into work excited at the moment''.