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Helpful - "RRR has income from JMS and from El Limon."
The royalty from El Limon is tiny. I challenge you for the second time to post up any figures. Of course you won't do so.
JMS pays dividends but earlier this year they reported this was reducing from 4 cents a share to 0.75 cents a share.
Last year Bell pawned off over 1.5m of the valuable JMS shares here without directly RNSing the fact. I can only assume he did that to pay salaries and Admin. It's hardly a positive thing to say "placings are ancient history" if the chairman is dipping into the only real tangible asset for cash ! When those shares are gone, they are gone.
Admin and expenses are currently running at £828,000 a year here for a company with a £2m MCAP !
It's not tenable imo to keep in place a BOD that fail to put out RNSs for key transactions and events such as:
- Not RNSing loans and transactions with Amulet Diamonds
- Not RNSing the loan of £1.1m to Steelmin
- Not RNSing Steelmin going into Administration
- Not RNSing the cashing in of 1.5m Jupiter shares
and so on
Daniel Sklan (13% holder) saw the light making the same comments about the preposterous expenditures on admin and frivolous projects. (https://www.lse.co.uk/profiles/d_s_)
Change is needed imo
DYOR
But the income is of absolutely no benefit to the shareholders as it just disappears as salaries and admin.
You need to check the accounts: RRR has income from JMS and from El Limon. The placings are ancient history.
I think the point is that absolutely no revenue has been generated after years of placings which have resulted in all of the projects being failed and with AB taking out huge amounts in admin fees nevertheless. The only thing worth any money at all is JMS. I have never or would never hold a position in this "company" as if I Wanted to waste x amount of ££ then I can easily just buy lottery tickets as there is the small potential to win something. There won't be a single LTH who isn't at least 60% down being conservative but in reality its more like over 90%. All this company have done is placings which have continued ad infinitum. Even for an AIM company you really do have to be a masochist to invest here and I am surprised it has not de-listed yet.
MrMagic you are obviously an intelligent chap, but I am not really sure what you are trying to do here.
This is AIM - Junior miners/explorers/project generators - It is absolutely normal for them not to have any revenue ...and obviously they will incur expenses and have liabilities.......at this stage financing is difficult and so you absolutely have to expect share dilution....its par for the course
This sort of investment is very much 'Jam Tomorrow'....but I like Jam and lots of it, and so I'm prepared to buy a few tickets for the lottery
I don't know AB well and obviously you've got burnt here....But Paul Johnson seems like a decent guy ....he and the BOD contributed heavily to the recent placing
This is NOT low risk investing....If you can't stand the heat get out of the kitchen......Please
MMgames - "RRR are in collaboration with Power Metal which is headed by Paul Johnson "
Bell is exec chairman at POW so I personally wouldn't expect things to be any different there than they are here at RRR or RGM. i.e. lots of confetti share issues, lots of fingers in lots of project pies, lots of "jam tomorrow" promises, large expenditure on Admin and so on.
A quick look at POW's recently published Half Year Report confirms my thoughts:
Loss incurred - £256k
Revenue - zero
Operating Expenses - £316k (equiv to £632k per year)
Cash - £289k
Liabilities - £123k
The report also states they expect to make a loss in the next 12 months.
Laughably their report shies away from using the word ADMIN and calls it "Operating Expenses" as if somehow that will make things different.
POW just dropped a placing on Monday raising the shares in issue from 552m to 763m, about a 40% increase.
Same old
Mr Magic u think another placing due?? I would not be surprised. Look at the latest youtube.
https://youtu.be/A4CMowBhL5k. Watch out for the funny subtitling.
Is red rock resources a worthy share to invest in as we have failed ceo of Regency mines Andrew Macmillan Ronald Bell. Many lost out on Rgm including myself due to his poor mismanagement. I know RRR are in collaboration with Power Metal which is headed by Paul Johnson but still doesn't make RRR a worthy investment.
Well a few sales have gone through and the price has not dropped back. It looks like there is a buy order in at around 0.38p.
Don't worry. I predict there will be a plethora of new stock arriving imminently.
I won't get sucked into a placing by your tiresome rehetoric
Looks like the MMs are short of stock.