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Yawn.
The trade was yesterday. You don't know if they will issue a TR1 or not but there was no requirement to issue one yesterday.
You need to calm down.
Tend to agree regarding the lock-ins. It sets a precedence, a bad one and means that the BOD here can not be trusted. If you're going to dilute shareholders, issue gazillions of shares and do it under the auspice of saying "it's ok, lot's of those shares are locked in for 3 months" and then a few weeks later completely go back on that and release the lock early, then you simply demonstrate to the markets that your word is absolutely worthless and that punters should be very very very cautious about taking anything the company states seriously.
Red Rock had a 6.50% holding here. They have first dumped their holding down to 3.77% and then the remainder are being locked. It's utterly laughable imo.
RGM holders failed to remove ALL of the original BOD here. They got rid of Bell but left Scott Kaintz in place. Big mistake imo. It's obvious to me there are still crony ties between RRR and RGM. Personally I think that situation is untenable if RGM really want to be perceived as having a clean fresh start. At present RGM is still the old RGM and just has a new face on the board. A rather pointless exercise. This situation can not continue imo if the company wants to be taken seriously.
Nothing has changed, RGM is still a mass confetti issuing company selling hopes and dreams with "jam tomorrow" rhetoric. The shares for me are worthless bits of confetti which is why they had to be issued at 2.75p. More dilution will come as night follows day.
DYOR
Sorry for the mistake. That makes the whole farce worse. It appears acceptable for the large shareholders to sell 7,789,091 shares at 2.5p ( confirmed). Shows what value they place on the future of RGM. The buyers of the 2.5p shares want an advantage over small shareholders who could buy RGM shares at 2.75p last week. No identity of the buyers given. No one will realise when they sell into the market. The people who bought at 2.5p yesterday can now sell their placing shares they bought only among ago at 2.75p. And they will. A new base, 2.5p, has been set for the value of these shares. It also shows that the hard and fast lock in is as loose as the proverbial tongue when it suits Mr Parsons. When there are lock in clauses it indicates people want to sell. The RRR lock in is laughable. The warning signs are there to see. Something isn't right
Fact:
On 3rd Feb Red Rock Resources (RRR) reported having reduced their RGM holding from 6.50% to 4.91%
Yesterday they reported reducing it further from 4.91% to 3.77%
https://www.lse.co.uk/rns/RRR/holdings-in-company-hwh1pbz1tbah5z1.html
https://www.lse.co.uk/rns/RRR/holdings-in-company-b9kg8yfe719qhcu.html
Hence all the sudden ramping imo. Anyone who falls for the "jam tomorrow" ramping here deserves to lose their money simple as. RGM recently issued a mass amount of confetti shares all at the discounted price of 2.75p such that of the resulting total share issue, 80% comprised of those 2.75p shares. What you have now is a lot of people wanting to make a nice quick flip profit on those shares at the expense of (imo) naïve mugpunters who will be left holding the baby.
Those holders imo have struggled to get their shares shifted at a decent profit and are getting jittery and probably fear they may run into another dilution here before they can shift them. I would consider myself a total mug to buy those shares off them at a premium to 2.75p. Remember 80% of the share issue has been issued at 2.75p. There has been no substantial news and Red Rock has now reduced its RGM holding from 6.50% to 3.77% and will likely put out another holding RNS once it goes below 3% and totally sells out here. DYOR
DYOR
I’m a new holder please can you explain that.
I notice an awful lot of hatred towards this company not too dissimilar to EUA when it was .05p
RGM Deep crab ??. Flattened on top of the PRZ (blue) due to XA 1.618 extension being in negative territory (red). Final target 52p minimum.
It wasn't RRR that sold at 2.5p: that was the YA/RF trade done to bring new long term holders.
YA/RF have done the trade because they think overall it will improve their position.
DYOR
Looks like the boiler room squad have been wheeled in to try and get the plethora of 2.75p placing and other shares shifted onto mugpunters. Same old same old.
get in quick
this will fly
last chance at these levels
God it gets so lame
Over and over this cycle runs with RRR and RGM and all that happens is more and more shares are issued and the SP gets more and more trashed whilst those who got discounted shares are laughing all the way to the bank. I'd consider myself an iidiot to pick up any shares here in excess of 2.75p. I feel for those falling for the pathetic ramping and paying higher prices. They will learn the hard way.
Notable that Red Rock Resources has sold another chunk of their RGM holding. Clearly getting out whilst they can imho.
Follow the ramping drivel at your peril imho. More confetti will come I guarantee it. DYOR.
Utter tripe. Again spouting complete nonsense.
What has happened today? Do you know? I hope new investors haven't been reeled in.
RRR have sold a million shares.
RRR sold a million shares last week.
Today RRR received just 2.5p per share. That is less than the 2.75p placing price of only 2 months ago.
Today, only 2 months after the 2.75p placing, the company has had to agree a partial release of lock in of 7,789,091 shares owned by the major investors.
Today no price was given for the placing of those shares. RRR receipt of 2.5p would be a good indicator.
Today no name of who the shares were placed with was given. No TR-1 will be issued for those shares. I'll let you into a little secret; the new investors will want to remain anonymous. There is a pool of 7,789,091 shares, bought cheaply, that small shareholders will have to compete with. If you bought today at 3.5p they bought today at 2.5p or less. A 40% advantage.
Today large shareholders have sold. The company was pressurised to allow them to sell. Why? Two months ago everything was rosy. Best buddies. Haven't they heard of peaky blinders and Southport? The sure thing. Kerching, kerching ,kerching. Haven't they heard of the world class Mambare asset? Two months ago RGM had a 50% share. Is that still true?
Something isn't right. Today should be a warning.
The float is getting tighter and so few shares to buy on market - 24m shares out of 89m locked in, add to the mix other TR1 holders who have no intention of selling.
Can see 5p+ coming soon enough - even at 10p the market cap would only be £9m
So it looks like YA and RF have made room for one of JP's mates and they think it will drive the price higher.
SP 3.175 but you can sell at 3.2 on HL
No interest in this share at all especially if parsons is a ceo, i lost 30k in sound. Others are now trying to take legal actions againts him, he deceived many... Just cant beleave after all that he did he just goes to another aim company just like that
The last time someone gave the nod that a few million shares were going to be sold a concerted effort was made to pump the share. And look what has happened today. Do people like being manipulated? Be careful not to buy too many of these shares. A couple of million and you will be down at 2.5p. No mates rates for the naive investor.
Big seller out. Should move up now.
Yes that's the man. Look what he did for Sound.
Up, up and away. Hang on a minute though haven't we been here before?
The bulls are taking control here.
Forget the past - new team in place, focussed to deliver, the bears won't apologise when the share price doubles/trebles from current levels.
Only 89m shares issued now, many of those are tightly held by long term shareholders who will not be dumping anytime soon.
10p a share would only equate to a £9m market value.
Is the CEO james p. Of this company? Did he really managed to get in here?
Not sure what your game plan is here Partridge but your posts are inaccurate. Dressed to look factual but are on the whole incorrect. You have been caught out on multiple occasions but still keep banging on.
If you burnt that is unfortunate but deal with it and move on.
Partridge you are talking drivel.
RGM will use project finance for the peakers. Senior debt is available at around 65% LTV for theses plants plus mezzanine and equity partners. The same will likely apply to a portfolio purchase. I know of EIS portfolios that are looking for an exit on generation assets. Don't believe me, ask around. A lot of money went into renewables 7/10 years ago and now wants out.
You are misinformed with regards to Mambare.
DYOR
Concentrate on what is going to happen, I will. Discussions in Australia :
" the partner had already initiated legal proceedings against the Company which resulted in the Company receiving a letter late on 20th December informing it of the proceedings".
Shareholders will be informed by end of first quarter about what is going to happen with Mambare. RGM came back with its tail between its legs and told to explore " various alternative JV structures, including a re-framed JV arrangement ". Expect a minority role at Mambare at best and probably the need for cash. The company will know there is no joy down under. It will assuage shareholders with talk of peekers in exotic places like Southport. The IRR on these will be swamped by the need to raise cash and issue new shares. Shareholders will not be told this until it is too late. The company needs to raise the share price. It needs your money or the situational will be unmanageable. It cannot release the poor Mambare news until you spend your cash.
Agreed Duke. Same old routine that has been tried here for years only these days nobody falls for it. Far too much history and bad rep with RRR and RGM imo. Shares are not worth anything above 2.75p imo. Anyone who pays more thereby giving placees a quick easy profit deserves to lose their money. Just look at the 10yr chart here to see how it rolls.
Looks like the latest twitter pump has failed !! Lots spouting 10p minimum etc etc . . . What a joke ! I bet these people are just trying to off load their shares at a premium to 2.75p as they know they not going to have much chance to soon. Andrew Bell knows this also by the looks of it so selling now while he can . . . lol