Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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https://www.jupitermines.com/projects/central-yilgarn-iron-projects-cyip/mount-ida-magnetite-project
Helpful - "In Q2 2019 . . . . . ."
In May 2020 Jupiter's annual report stated "Both projects remained on care and maintenance with only statutory work being undertaken during the financial year."
https://www.jupitermines.com/cproot/967/3/20200527%20Jupiter%20Mines%202020%20Annual%20Report.pdf
Their review is on-going and seems to be taking an extraordinarily long time if they started it Q2 last year.
Jupiter have reviewed the projects a number of times before and the result is always to keep them mothballed.
The long-standing tranche payments you refer to date back to 2012 and are dependent on:
"a positive definitive feasibility study (DFS), a formal decision to mine and that 20% of the pre-production capital costs outlined in the DFS are provided for" and
"commencement of COMMERCIAL production"
How many years will it be before Mt Ida achieves commercial production were it to be brought out of mothballs??
Meanwhile how many more billions of shares will Bell have issued here and how much SP decimation will that have caused?
As always you are simply trying to pump the share on a speculative "jam tomorrow" basis as you have your cash locked in here in the form of CLNs which have now been rolled over for a third consecutive year.
It's clear from Annual Reports that most cash here ends up spent on Admin which adds no shareholder value. A cash injection would therefore not change fortunes here. That has already been seen as Bell received over £1m from the 3 Jupiter share buy backs and has received more again via the dividends and not a single penny of it was ever passed onto shareholders. Since 2018 the SP here has dropped from 1.2p down to 0.3p.
Between 2012 and 2019 the company has raised over £16m cash from share issues which is far far more than the tranche payments you are talking about. In that same period over £12m was spent on Admin and the SP has been utterly decimated. Cash does not equate to shareholder value here. Simple as.
DYOR
In Q2 2019 Jupiter announced that it had appointed Hartleys Limited to advise it on a process of reviewing its iron ore projects in the Yilgarn. Red Rock holds a 0.75% Gross Revenue Iron Ore Royalty (GRR) over Mt Ida, and a further 0.45% GRR over Mt Ida which transfers in two tranches to Anglo Pacific Group plc for a consideration of USD 8,000,000 upon the reaching of certain development milestones.
$4mil is due to RRR on a decision to mine and $4mil on start of mining. At current prices the RRR royalty based on the 2012 business plan is worth circa $10mil pa. So if JMS has decided to monetise the Yilgarn assets this is big for RRR.
JMS have said publicly that that only want to spend management time and resources on maximising the dividends from Tshipi. Either they will sell the Yilgarn or spin it out. Iron ore and the Yilgarn are hot at the moment....
DYOR
You really are embarrassing yourself now Helpful. It is sad to see such desperation.
You know full well that the Jupiter Mt Ida/Mason projects are mothballed indefinitely and have been for years (since 2012 I believe)
Hence there is no royalty payment because there is no production and the "stage payment" you refer to is dependent on commencement of commercial production which you know full well. Since there is no commercial production going on nor likely to be for a very long time, there is no stage payment or royalty payments.
From Jupiter's Annual Report published May 2020:
"Both projects remained on care and maintenance with only statutory work being undertaken during the financial year.
A strategic review of the projects commenced early in the financial year and continues at present."
The projects are routinely reviewed by Jupiter.
This line of ramping is lame at best and is extremely disingenuous imo. Very poor show indeed.
DYOR
As I have pointed out previously, there is lots happening in the Yilgarn. https://www.globenewswire.com/news-release/2020/06/04/2043352/0/en/Macarthur-s-Joint-Venture-Partner-Fe-Limited-completes-sale-of-Evanston-royalty-and-set-for-exploration-at-the-Hillside-Project.html
https://www.rrrplc.com/projects-and-investments/steel-feed/jupiter-mines/
We are owed stage payments and retain a royalty. JMS have been looking at monetising the Yilgarn since last year.
DYOR
Just a reminder of why the things you list don't have the fantasy value you assign to them:
Annual report results since 2012:
Total Losses incurred - £39,792,939
Total Cash Raised - £16,326,957
Total frittered on Admin - £12,770,280
Some 75% of available cash gets frittered away on director salaries and admin. That's why your persistent attempts to play the "sum of the parts" sleight of hand trick is utter BS. JMS shares are worth their current face value on the TXS LESS 75% which Bell & Co will expend on Admin once they are cashed in. Bell already pawned off 1.5 million of them last year presumably to pay salaries and admin (sadly he didn't RNS the event so shareholders were left to guess).
I confess I don't think I've seen a more utterly desperate locked in punter as yourself in all the time I've followed RRR and there have been a great many come and gone with their tails between their legs. Many of them fairly significant holders of 13% or more, nothing like your paltry holding.
Always good to get the view from the horse's mouth of such real investors like this one from former 13% holder Daniel Sklan:
"After holding RRR shares for a considerable number of years and seeing my holding drop from over 13% to under 2% and value drop by over 90% due to the constant “fund raising” and issuing of new shares; I have finally had enough and sold all my shares. Let’s be honest - doesn’t matter how much money RRR receives it will always disappear paying "misc. expenses", directors salaries and investing in white elephants; sorry I meant Elephant Oil and various other ridiculous investments. I simply can’t understand how a business manages to plough through so much money with so little to show for it."
https://www.lse.co.uk/profiles/d_s_/
Pump and dump or another placing clearly on the way here imo going by your desperate posts.
I'll continue to give this POS a very wide berth.
DYOR
Just a reminder of the things that you think have no value and you are wrong:
Mt Mason and Mt Ida: two stage payments due and a royalty
El Limon/Para: royalty
JMS shares
Migori
DRC
Victoria
Shares in POW, RGM, Elephant Oil
Warrants in POW, Para.
DYOR
There's nothing to make it any kind of big deal. As stated before no-one was remotely interested in Migori whilst they actually had the license. It was going nowhere and I'm afraid Helpful you simply can't dupe those of us who were listening to the open RRR public conference call a few years back when a director of Migori actually jumped on the call unplanned and asked AB what the hell was going on. That revelation exposed the total lack of "partnership" and how stagnant the project/relationship was imo.
Nobody thought of the Kenya project as being worth £millions even whilst they had the license. The company was still posting yearly losses and still utterly decimating the share price through brutal dilution of existing shareholders. Your desperate attempts to groom naïve punters into thinking something miraculous will happen if/when they ever get another license awarded is just embarrassing now and rather despicable.
You've tried the same BS with numerous other projects. You ramped Steelmin for ages until it eventually went into administration. You ramped the Shoats Creek project until that collapsed as another laughable failure.
In the end you are desperately locked in here owning many of the £1m outstanding Convertible Loan Notes and you desperately need the SP to get up to your 0.6p conversion price in order to bail out. Bell will be back out with the placing begging bowl soon enough imo and the SP will just continue its regular journey southward. You should have gotten rid of the BOD when you had the chance but you made excuses saying he was the man to get the Kenya job done and that was close to a year ago. More fool you.
If you're happy being locked in here then sit back and wait for your profits to come in but please stop trying to dupe everyone else into this utter POS
DYOR
I am really glad that you are making such a big deal of this. It will make it all the sweeter, "shortly".
DYOR
Diary of a desperate ramper
Helpful has been desperately ramping an "imminent" Migori license for around 21 months now !
Posted by Helpful:
Oct 2018 - "What does priority mean? It means that RRR's application gets considered before anyone else's: see section 56."
Nov 2018 - "We can't be too far off them confirming things on DRC, Migori and Steelmin."
Nov 2018 - "we are due imminently news on the license at Migori"
Nov 2018 - "it has resolved the issues with Migori and is expecting the licenses back any day"
Feb 2019 - "I expect the Migori license back shortly and that will fund the further work needed on the licenses"
Feb 2019 - " he [AB] is expecting to get the license back for Migori anytime now."
Mar 2019 - "The CLNs will be looking very healthy shortly. Get Migori sorted and a bid for Musonoi and AB will be a hero again!"
Mar 2019 - "So when Migori is written back up it will result in a positive P&L account but have no effect on the cash position"
Mar 2019 - "my view is that Migori is worth about £10mil once we get the license back."
Mar 2019 - "we will likely get Migori back in the next few weeks"
Apr 2019 - "Two big steps coming up: get the Migori license back and execute the JV"
Apr 2019 - "The short term play is to get Migori back, sell it"
May 2019 - "Migori must be getting close now"
May 2019 - "We are due something from any of the following soon: News on Migori license"
Jun 2019 - "Migori - I anticipate a lot of progress here over the next two months"
Jul 2019 - "I expect the Migori license to be forthcoming"
Jul 2019 - "Fingers very crossed we should get the Migori license very shortly"
Aug 2019 - "fingers crossed for getting the Migori license back soon"
Aug 2019 - "It sounds to me that AB thinks Migori is nearly sorted.. "
Sep 2019 - "Anyway, hopefully AB gets this Migori license sorted out soon."
Oct 2019 - "We are on the last leg of getting the license(s) back on Migori"
Oct 2019 - "In the meantime we await the final piece of the jigsaw on Migori."
Dec 2019 - "In the meantime we await the final piece of the jigsaw on Migori."
Dec 2019 - "Migori is very close but it has been close for a while."
Jan 2020 - "When the Migori license gets issued is in the control of the Kenyans. All RRR can do is meet all the requirements for the license to be issued"
Feb 2020 - "I am expecting that the company will eventually deal with Migori"
It gets so very old. If the license is re-issued Helpful will then continue to claim that it is worth £millions to RRR and hope thereby to ramp a spike here so he can exit his CLNs which have had his money tied up for 2 and a half years. I won't be sucked in. Will you?
Desperate stuff
DYOR
Shortly is a lot sooner than any time frame you would put on it. Anyway, when it is confirmed, please do hold your hand up and admit that you were wrong.
Don't forget that you and the other trolls were calling bankruptcy and/or a placing when the price was down around 0.1p ish. It looks a bit different now.
DYOR
It won't matter one jot whether licenses are restored or not. Nobody was remotely interested in Migori before the license got revoked so getting another one awarded would just restore that position. Your utterly desperate hope to try and pump this angle by way of trying to get the SP up to your CLN conversion price (0.6p) is just embarrassing and laughable.
You're never going to convert your CLNs here. You've had to sit on them for 3 years now and come December they will likely be rolled over again for a forth year. This is a total sucker share. Endlessly issuing worthless confetti shares and spending the proceeds on director salaries and Admin. As highlighted by the Annual Reports here:
ANNUAL REPORT RESULTS
2012 - Loss of £1,962,882 --- Cash raised £4,441,844 - Admin £2,275,786
2013 - Loss of £22,105,562 -- Cash raised £4,103,795 - Admin £4,751,948
2014 - Loss of £4,113,460 --- Cash raised £2,723,861 - Admin £1,563,808
2015 - Loss of £8,411,541 --- Cash raised £2,327,377 - Admin £1,334,404
2016 - Loss of £283,280 ----- Cash raised £1,155,323 - Admin £758,351
2017 - Loss of £1,114,213 --- Cash raised £300,000 --- Admin £644,688
2018 - Profit £78,120 ------- Cash raised £421,668 --- Admin £849,518
2019 - Loss of £1,723,881 --- Cash raised £853,089 --- Admin £591,777
Total Losses above - £39,792,939
Total Cash Raised - £16,326,957
Total Admin - £12,770,280
Just look how much cash is syphoned away in Admin. It is utterly preposterous. Hence absolutely zero shareholder value to be had and hence the SP will always sink further and further southward. Next worthless placing can't be far off imo
DYOR
So when it is confirmed shortly that the Migori licenses have indeed been issued will you be admitting you were wrong?
POW fund raise. Comments on Victoria...
https://www.londonstockexchange.com/news-article/POW/financing-raises-ps1-000-000/14604599
Next door neighbours
https://twitter.com/theminingmaven/status/1279657524497649674?s=19