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lol. Helpful has done his money like all those before him. Poor fella.
Bell could sell any number of Jupiter shares tomorrow to fund some amazing adventure with some tin pot outfit (elephant oil, amulet diamonds anyone?) loaning them monies that are unsecured, and non interest bearing and so on and there's naff all you'd be able to do about it. Then the loan gets written off later on. Where's your Administration equity at that point? And as iRick stated you have no idea what other loans and transactions might already have been conducted given they didn't RNS the Amulet loans or the Steelmin £1.1m loan. This share has imo become totally uninvestable so the SP is imo going nowehere but down and its looking pretty obvious that you'll eventually be leaving with your tail between your legs in due course. Till then of course, ramp on old chum like a goodun.
DYOR
It is how it works. Anyway, it looks like I am happier with my position than you are with yours.
I thought that before a licence was issued the Kenyan authorities needed evidence that the applicant had sufficient resources to use the licence effectively. How would RRR handle that requirement?
How many times do you think the infamous Greenland sale was "close"
I think AB tells you want he needs to given you stated "If RRR can't pay, we just force administration"
"if" is a big word.
Ricky, you need to go and look at the Kenyan Mining Act 2016 section 56
http://kenyalaw.org/kl/fileadmin/pdfdownloads/Acts/MiningAct_No12of2016.pdf
You also need to look at the issue re landholder consents
https://www.bowmanslaw.com/insights/mining/kenyas-new-mining-act-modern-piece-legislation-issues-iron/
Getting the new license issued on Migori is straightforward but arduous. If AB says he is close then it must mean that he either has all or most of the landholder consents or that he has sufficient such that the committee and minister are happy.
All mining licenses in Kenya have to be reissued under the Kenya Mining Act 2016. What is happening with RRR and Migori is no different to what is happening with other applicants.
As with all these things, they eventually time out. AB has been saying he is close now for two months. Fingers crossed!!
DYOR
"windup value more than covers the debt"... you say this now but if they keep selling of Jupiter to pay "admin" or there are other Steelmin style loans you don't know about it won't be long before this isn't true... plus you'd lose on you equity position if you forced admin... still nothing a few tweets and gold bar pictures won't fix
Hey Ricky, I thought you wuz an "expert". If RRR can't pay, we just force administration and get repaid that way. Anyway, windup value more than covers the debt and the current share price. As I said, no downside.
RGM is good value at the current price, perhaps you should be concentrating on that company? Not as much fun since AB stepped down?
You're right. I shouldn't have used "borderline criminal activity".
Criminal activity. That must be it.
Thanks for confirming.
And you Mr Bop don't know how to use the English language. Anyway good luck with RGM.
I'm guessing Helpful will extend his CLNs for another year because "he can't lose" when it's more a case of RRR can't pay him back without tanking the SP (by a massive discount equity release or selling more Jupiter) so he's actually forced to since because of what he'd lose on his equity position.... nice work RRR, you should sell of some more Jupiter share and give yourselves a bonus
So Andrew Bell has sold 1.5 million Jupiter share - The only regular income stream ! Tut Tut - We all know the reason why he has sold them, to ensure himself and Scott can keep the snouts in the trough that bit longer. Disgusting in my opinion ! Again why hasn't the market been informed ? Total disregard for shareholders once again ! The only way this company can survive is to get rid of Andrew Bell and Scott Kaintz - Don`t leave it as late as RGM, where Andrew Bell sucked every last bot of life out of the share before jumping or being pushed from a sinking ship !
Whether 10% is or is not a good return on an investment is, I think, a moot point.
The point surely is that CLNs were not, and are never likely to be, available to your average AIM punter. Interest earned on these is not the result of a successful stock trade, and reflects not one bit on the holder's ability to pick a good company to buy shares in.
Though he will no doubt suggest he is just passing on information for others to do their own research into, it is hard to believe that Helpful continues to post here other than in the (apparently vain) hope of attracting new RRR buyers. Given that any such buyer will be making what seems at this point to be a substantially risky investment - given what we know about the cash position of RRR, the very poor record in keeping investors informed of company activities, and any number of failed projects - potential investors should probably be aware that the only one here who seems the least bit positive about RRR has his investment that is largely shielded from these risks.
MrMagic - if you know of a secured investment paying 10% compound could you tell me what it is - I would be very interested in your expert knowledge as I'm looking for something to beat inflation with minimal risk
Helpful : "On RRR I have an equity position and the CLNs: as has been pointed out, I can't lose on the CLNs"
LMAO
You're essentially admitting to abject failure.
Why? Because for nigh on 2 years you've had your hard earned cash locked up in useless CLNs which you have no hope of converting (exercise price 0.8p). The CLN's attract 10% interest. So what you are presenting to readers here, and to your business clients is that as an investor, the best you can achieve is a laughable 10% and you have to go to AIM and to a failure like RRR to do that ! That's actually dire imho.
I'd say you are actually losing money just like people who leave their cash in premium bonds. Whilst it's sat there locked in, it's not making the kind of return it should be making esp on AIM. Either that's true or you are conceding to all that your great fantastic investing skills are only capable of delivering a measely 10% anyway. So really, fooling nobody.
Bottom line, you're never gonna get to convert the CLNs any you're cash is locked in for 2 years only earning 10% pa. You could get 5% without going near AIM much less this POS !
Haha funny is right.
Rgm has nothing. Not one valuable asset.
Sure, mambare will be wheeled out and ramped for mugs, - fools and their money etc.
What's the term, Dead cat bounce?
Keep it. Borderline criminal activity imv.
Funny! You will see on RGM shortly.
On RRR I have an equity position and the CLNs: as has been pointed out, I can't lose on the CLNs. On the equity side, I have them as low as 0.5p. The wind up value is more than 0.5p. I don't have a problem except this has been a long wait. Migori has been supposedly close to resolution now for nearly a year: however, as AB has said but you don't believe him, the resolution is close. All the licenses have had to be reissued under the Kenyan Mining Act 2016 and it is heavy work getting all the landholder consents required. Barrick have only beaten us by a few weeks.
Things are going in RRR's direction, gold is up, cobalt is up, copper has started rising and manganese has held its price. JMS is going to declare another good dividend, Para has raised the capital it required and should be paying out decent royalty cheques from Q1 20. POW looks to be doing okay and if any of took the trouble to read RNSs rather than just sit there poking pins in AB effigies you would know that POW has released some interesting RNSs.
Elephant Oil announcing its JV partner for Allada would be helpful.
Anyway, DYOR.
Squeaky bum time for Helpful I think
If they continue to sell of Jupiter to pay "admin" then there's going to become a point where the value doesn't cover the loans they've got and for some reason I think Helpful is at the bottom of the pecking order
Awww whats the matter?
Did a charlatan take all your money and leave you with a sore bum bum and you can't chase him down!?
Sour grapes much?
Delighted for ya.
Hey Joe, shouldn't you be over on RGM discussing your genius investment skills?
About as useful as ferrosilicon price notifications.
Speaking of which, Where did all that money go!!?
Cobalt price moving up nicely.