Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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https://mobile.twitter.com/BrokermanDaniel/status/1245305359151046656
Partridge - "Has the lock in been fair to shareholders of RRR? RRR were happily selling these puppies at 3p before the lock in. The share price is now 1p, a third of what they were getting. What have the shareholders of RRR gained from the lock in? "
It's matterless because none of the assets or holdings at RRR equate to value for actual shareholders imo. Approx 75% of available cash goes to Admin and other expenses. So when holdings are sold, the money goes into the RRR coffers and then is exposed to that preposterous expenditure on admin. No value for shareholders. Never was. Never will be. Not unless and until the entire BOD is removed and replaced. Same goes for RGM. imo. DYOR
" Regency has executed a lock-in agreement with Red Rock Resources Plc ("RRR") covering the entire position (3,383,633 shares) currently held by RRR. Under the terms of this agreement 100% of these shares will be locked in through March 2020, 70% will be locked up through June 2020 and 40% of the total will be locked in through December 2020, at which time the agreement will expire".
Has the lock in been fair to shareholders of RRR? RRR were happily selling these puppies at 3p before the lock in. The share price is now 1p, a third of what they were getting. What have the shareholders of RRR gained from the lock in? What idiot agreed to this lock in on their behalf? I can see what RGM gained, or thought they were gaining, share price stability. Someone at RRR needs to ashamed.
Coronavirus and recession. Most nickel is used in the steel industry which is the first to fall back in a recession. This is little more than a zombie company for the next year or so. And when the economy does pick up it will not be a 50/50 partnership at Mambare. Where is that update? End of March, end of lock in. The nickel is staying in the ground. Make sure your money is staying in your bank account.
Someone's splashed out £169 on this dog.
Previous posts of Helpful on the RRR thread . . . . (try not to laugh):
Helpful LSE Post 11 Nov 2017
"I funded the loan notes and took some personally. You don't know what you are talking about.
It is a good each way bet. If things work out I expect to be out end January 18 with a
significant profit. Do your own research or get someone who can do it to do it for you."
Helpful LSE 12 Feb 2018
"I hold some of the CLNs and know most of the other people who hold them. They have a life
of 14 months and accrue a coupon of 10%. Why would anyone in their right mind convert now
when the conversion price is 0.8p?"
Helpful LSE 12 Mar 2018
I have some of the CLNs and know where most of the others reside.
I will not be converting any at this price. Take some time to do some research: why convert
now, when I can hold for pretty much no risk and convert later at a higher price.
Every month I wait gives me more shares at the conversion price."
CLNs at RRR have now been rolled over for a 3rd year and the conversion price has been lowered from 0.8p to 0.6p and the interest rate increased from 10% to 12%.
To reiterate, conversion price is 0.6p. Current RRR share price is 0.165p
As I said to Helpful numerous times, he will never get to convert the CLNs imo. I have zero sympathy.
DYOR
To your questions cgull. I don't know.
He is still very pally with Bell on twitter. Though now hardly ever posts on the RRR thread. To me something stinks.
For years he always maintained that those investors who gave RRR the £1 million loan couldn't lose. RRR is no longer a million mcap so I'm not overly hopeful for those lenders.
Does this mean Helpfuls companies CLN's will be owned by the Crown when his company is struck off? If so, they will certainly not be getting rolled over again and, subject to the law, may even be called in. Helpfuls companies massive holding, notwithstanding it is worth FA compared to the purchase price would be sold. I wonder what the law is?
Last post should read: "expert advice"
RGM seems to be very popular with Stephens. Stephen Lundy (or poster Helpful) recently had an RGM holding RNS to announce he held over 3% in RGM (at around 3p). So he's not doing too well.
Apparently he's a financial advisor. His expert advise got his clients to lend RRR around £1 million near 2 and half years ago. That still hasn't been paid back. He also advised his clients to lend Curzon energy £100,000. That still hasn't been paid back. No doubt his expert advise also advised them to invest in RGM. Not forgetting Mayan energy that collapsed in price by many hundreds of times.
I'm not surprised that his company Bespoke Capital solutions https://beta.companieshouse.gov.uk/company/10363918/filing-history looks like it's being wound up. He's probably doing a runner and letting them try and get their loans back. Best of luck with that.
Do you remember the heady days when you extolled "But in any event, from an RGM shareholder perspective, I'm not in the slightest concerned. "? The share price has dropped 85% since then. Were you duped or were you trying to dupe others?
The rumpy pumpy is getting more anaemic by the day. Each time people are drawn in, each time the share price falls. I remember the good doctor pumping these at 3p for a ten bagger; remember the days of the short squeeze. Halcyon days. I would liken it to the present toilet paper shortage. Everyone is holding but we all know it is going down the pan. No news of the legal proceedings yet. 7 days to go. Next cash raise is going to make the eyes water. Nobody wants to buy placing shares when the bottom is falling out of the market. Unless Mr Parsons takes legal action. Those Aussies will be quaking in their boots. On a bright note I am downsizing the house extension and have a spare plug for that electric fire in downtown Southport.
Mr Parsons star has really fallen. At Ascent Resources, where Mr Parsons arrived on his white charger, the share price is now 25% of what it was the day before his first appearance. Today he announces his cash raise there, which was £800,000(gross) has shrivelled to £700,000 then £500,000 and at the moment is £485,000. And now be is taking legal action to force a reluctant follower to hand over £200,000 of promised investment. At the placing price of 5p rather than the current 2.25p. Another wheel off the chuck wagon. I wonder if the threat of legal action will gird the loins of investors at RGM in the next cash raise?
I say this share price over 100 times smaller than 3 years ago. But the RGM market cap is not too different than 3 years ago. Just massive RGM dilution in those 3 years.
I remember at the end of last year and up until recently D*c H*liday and Blowster were constantly doing RGM tweets telling everyone RGM would soon reach 10p.
Also rewind back 3 years and Paul "Pumper" Johnson along with his ramping posse were all over RGM. They managed to ramp RGM up to 1.3p back then. But with the recent 100-1 share consolidation this RGM share price is effectively over 100 times smaller than it was 3 years ago.
So following these notorious rampers can be absolutely devastating to your wealth.
If you were completely off your rocker you could buy in at below 1 now.
Lol I know! I now consider my Saturday post a ramping post. :)
Before lunchtime today, Monday, by the looks of things. Gutted for the directors holdings being worth FA shortly.
If this sinks below 1p next week.
End of the month looms. Didn't the company promise an update : " the Company expects to conclude these discussions during the course of Q1 2020 ". Poor market conditions for poor news so don't expect news. Doesn't the lock in end at the end of March? Those large shareholders must be fuming. Propping up a failed model. Cash is going to be hard to raise for Mr Parsons. He had to get his C4 Energy shareholder, Andrew Dennan, to help him out for the failed (£800,000) cash raise at Ascent Resources. 1,900,000 (£95,000) shares to save his masters blushes. Be warned. Your cash is desperately needed.
Before December 2019 this market cap was a solid half a million, however now it's around one million. So for what little they have this mcap looks too big for me.
For these past few months twitter promoter Blowster kept squealing this would soon be 10p, he was also constantly giving a running commentary of all his latest RGM purchases. A few weeks back he announced he owned 2.99% of this company. Yet since then this share price has halved and yet he's not interested in buying now. You would think he would eagerly take himself over 3%, get the holding RNS released, get himself well and truly locked into RGM and then wait with quiet confidence for the rise. He at present is not doing that.
So he and others may encourage you to buy more on twitter. But beware because they don't want to buy anymore.
Didn't Parsons purchase shared here at around 2.75p? Now he gets to feel how we have all been feeling for years and years. Disappointed, let down and out of pocket. Karma has a funny habit of kicking you in the proverbials when things aren't going the way you planned.
MCAP now about £1m lol
Admin last year was £652,918
Total joke like RRR. You have to feel for all the mugs who fell for the ramping during the colossal confetti issue and
1-100 consolidation. Then again, there is so much dire history here that people deserve to lose their money if they didn't do any research, even the most basic trawl of the annual reports which tell you everything you need to know.
DYOR