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Red Rock Resources and RGM share the same office. Plus RGM ceo Scott Kaintz works at Red Rock Resources. Kaintz is pretty much second in command at Red Rock.
That Red Rock are starting to sell their RGM shares doesn't scream positive to me.
RRR selling a little of their shares. Is that a recommendation for Recency shares from Mr Kaintz? Was not the future bright in the RGM video a few days ago? Always best to be the first mover. When the "3 month shares" become available it could be too late to sell. Best to take the cash off the table now. Return it to RRR. Not a great amount but impressive sentiment. If there is one person who has the inside track it could be Mr K. Would he have gone to Australia for discussions with the JV partner about Mambare and the legal proceedings? Would he be party to the next step for RGM and the cost in terms of cash and shares. There is a signal here and it is not positive.
MrMagic
It seems you have lost your shirt on RGM, it happens on AIM unfortunately, however as Doc Holiday pointed out in a podcast today saying 65% of RGM shares are held by a handful of investors and some are quite recent, these folks will almost certainly have the inside track on what is going on and have positioned themselves accordingly.
My bet is you Mr Magic will be proved wrong and from current levels RGM could multi bag, whilst you keep misleading people saying they have issued 7 billion shares it is in fact 70m from 87m issued, that is not a large number when sometimes AIM stocks can do 500m+ volumes in a day.
RGM simply needs some material news to deliver that volume, we will see if it comes or not shortly.
Sellers of the 2.75p shares can only sell one time and they are gone.
More sells appearing at a price below the recent mega confetti issue price of 2.75p (post consol)
100k @ 2.65p and a smaller sell over on the secondary market @ 2.65p
Don't forget to keep an eye on trades on the secondary market BTW which are additional to the trades you see here on LSE
Link below:
http://www.nexexchange.com/member?securityid=2074904
How many more sells like this will follow? There have previously been a few at 2.65p and a few more at 2.70p and 2.75p.
SP is clearly going nowhere imo. Few are going to pay a premium for the plethora of confetti shares issued at 2.75p imo so the holders either have to hold tight and risk running into the next dilution or sell now at break-even or for a small loss. As Partridge highlighted earlier some of the 7 billion+ confetti shares have lock in periods. These are the "Promissory Conversion Shares" which represent 2.6 billion shares issued pre consolidation. After 3 months the first 30% of those shares will be unlocked and available to sell on the market That's about 7.8m shares in today's money, close to 9% of the total issue of 89m. Then after another 3 months, another 30% of the shares get unlocked and so on.
It means there will be a constant influx of 2.75p shares available to the market through the year which will simply mean the SP is going absolutely nowhere imo. It looks to me like some of the confetti holders are proactively dumping now while they can for break-even or small loss. DYOR
What is it, where is it...
Multi phase development
- 7.2MW Gas Peaker Plant
- 4MW Battery Storage Plant
Potential Bio Waste to power plant
Mix of full & outline planning already granted
Further planning & grid connection applications in progress.
https://twitter.com/spearce999/status/1224253625142251521?s=20
http://prntscr.com/qwqvht
and that situation will perpetuate Partridge. After another 3 months another batch of 2.75p shares will be "unlocked" and thus free to be palmed off onto (imo) naïve mugpunters. And then after another period another batch and so on.
SP is only going to stagnate here until the next round of dilution comes along at which point all the recipients of the 2.75p shares are going to be extremely worried about being undercut I would think. We've already seen some sells at 2.65p.
Personally I predict there will be more of this as time goes on and as the 2.75p share holders seek to get out at least break-even. Just my opinion. DYOR
First came the tight squeeze. Remember that? Frenzied buying was predicted. But the share price fell. It was lies. Now coming over the horizon will be the last chance to buy at the placing price. 2.75p, or 0.0275p for the olde worlde types. Ever get the feeling someone needs your money? That 3 month period before those loosely held shares are available to the market is fast disappearing. The starting gun for 25,000,000 shares to flood the market. Mambare, the flagship, is involved in legal proceedings. The JV is up for discussion. Not so rosy in Mr Parsons garden.
Jones1980: "Bunch of jokers, especially Parsons! What a poor RNS
All have zero skin in the game"
IMO that's as sure a confirmation of more impending dilution as you could hope to have. They obviously know the SP is heading South imo and so won't commit to any significant holding here.
With naff all income these "jokers" as you call them will imo be diluting over and over and over and the SP will just go further and further South. The recipients of the 7 billion+ shares issued at 0.0275p (equiv to 2.75p today) must surely be concerned that they are going to be stuck with that useless confetti imo. They won't want to be left holding the baby when the next bunch of confetti is issued at possibly even lower prices. Hence we saw sells last week at 2.65p.
When the BOD have no skin in the game you can be sure it's for a good reason. DYOR
Interesting isn't it how LSE above shows the share 1.77% down and yet the trade list shows on 5 trades all of which are tiny buys. Suggests to me there are transactions not yet being shown. Never believe what you see in the trade list as there will always be late reported trades on these shares.
Either way the mugpunters aren't remotely convinced by today's RNSs and the stalemate continues as predicted.
Nobody is interested in giving the beneficiaries of the 7 billion shares issued at 0.0275p (equiv to 2.75p today) a quick easy profit by paying silly money for shares.
The holders of those 2.75p shares obviously don't want to sell for a loss.
So the stalemate continues and the clock ticks on towards the next batch of worthless dilution confetti. The longer that clock ticks the more nervous I would guess those holders become as they will surely fear that the next batch of confetti will be at a discounted price lower than 2.75p. Would the same people be happy to put more cash in here for more discounted shares if their last batch went nowhere? Not sure. Either way, same old same old imo. As with RRR I don't see this going anywhere at all unless and until the original BOD are removed from post and until the "death spiral" business model is ditched. DYOR
Perhaps your predictions about RGM will be as good as those for Mayan.
Deal maker extraordinaire are your words not mine.
As always let's see: so far so good.
A further 481,662 ordinary shares have been issued plus 3,040,567 options and 438,596 warrants
And "a further 168,421 shares and 438,596 warrants (at yesterday's closing price of £0.0285 have been awarded to consultants and advisors for services to be provided during 2020"
Plus "The Company has awarded Scott Kaintz, Chief Executive Officer, 3,040,567 three-year vest, five-year expiry options under the Company's Enterprise Management Scheme, to purchase new ordinary shares of the Company at yesterday's closing price of £0.0285"
Director Holdings are now:
Nigel Burton - 0.14%
Ewen Ainsworth- 0.21%
Scott Kaintz - 0.29%
James Parsons - 0.84%
Which is frankly laughable imo. Shows absolutely zero confidence imo and highly suggests to me that they know they will dilute the carp out of the share going forward. Believe what you will of course and always DYOR.
A typical RGM style RNS full of woolly statements imo. The phrases I picked out:
"in Progress"
"expected"
"with a view to"
"It is expected that"
"can largely be achieved"
"is also considering"
"continuing discussions with debt and equity finance providers"
The usual stuff. I'm staggered that Kaintz and Co still think this kind of approach is still going to tickle the fish and get them to buy up the 7 billion discounted shares issued a few weeks ago at 0.0275p (equiv to 2.75p post consolidation).
Sorry but RRR and RGM have both been here 15 years and have run this dilution business model throughout and utterly destroyed the share prices whilst the BOD continue paying themselves lucrative salaries, granting themselves options and expending inordinate amounts on admin and other expenses.
Try as you might I personally feel that this particular gravy train has reached its terminus. There are far too many people wise to this business model imo which serves only to personally enrich the BOD and equity loan cronies at the expense of ordinary investors. The SP is down today on this "nothing" RNS. Nothing is going to change imo.
Shares imo are worth nothing more than 2.75p as over 80% of the existing share issue was issued at that equiv price.
The RNS essentially confirms for me that more dilution will be forthcoming so the SP is only going South from here imo.
Same old same old.
ALL of the original BOD have to be removed for there to be any change in market sentiment imo. This is much like Labour still thinking they can go forward with Corbyn anywhere near it. Just lunacy imo and total denial. Even then the markets will be sceptical of the same old "lifestyle business model" being perpetuated by the incoming team. DYOR
Consider me admonished. Ouch! You're correct they have updated and they are clearly letting it be known that the 50/50 partnership is changing and it will fall in favour of the partner doing all the work. There has been no update saying the legal action has ceased, only suspended. And you might be correct in saying that the future of energy generation and the national grid lies in a back street in Southport.
But he careful about describing Mr Parsons as deal maker extraordinaire. There is no evidence for that. I hope it works out for you here. But it is not a share for new investors. There is plenty of evidence for that.
Partridge you have been talking to Mr Boob too much.
If there is a problem with the Mambare asset why has the legal action previously referred not proceeded? Answer, the two sides have an outline agreement on the way forward. Why haven't they updated you? They have but they are not going to come back and update the market every time there is another email.
The big issue for both sides at Mambare is the costs of bringing it into production. The main thing is that they need is to put in a 120km road to connect the asset to the port. Secondary are port facilities and the actual mining license. If they can't afford to put the road in then the rest is pointless. What does JP reckon his skill set is? Oh yes, M&A and bringing finance.
The usual story here: someone has lost money. It can't be his fault so it has to be someone else's fault and the last thing he wants is for things to work out here.
The peakers are pretty easy as long as you can find a suitable site. Big issues are gas connection, grid connection and planning. Finance is not an issue. RGM will likely be able to largely debt fund each one and bring a partner in for the difference. Southport will be cash flow positive from about six weeks after being online (taking into account payment terms).
Unlike you, I looked in detail at AES last year as part of the CLN negotiations and have met the management a few times.
With Ion Ventures on board (who have closed several deals for themselves and others) Southport will get closed and others in the pipeline. I expect that once we have critical mass in the grid space it will get spun off into a separate vehicle.
DYOR
Problem is the bulls have mostly taken part in the placing and as a result are not buying in the market, prospective new investors are looking at the 70m shares issued at 2.75p and refusing to buy higher up.
It needs a material news event to deliver very strong volumes, unfortunately I see nothing from the Kaintz interview or the presentation to deliver such an event in the short term at least - Kaintz did say he expected the shares to go higher over a 6 month term and then adjusted that to 3 months.
Who knows, but it needs on market buying from the many Twitter 'names' who are promoting RGM as a recovery play, no good sitting there hoping others will buy.
There's an old expression,"you can't polish a t**d"
Bit of research tells me there's a unit with planning permission immediately next door to a large electricity substation.
Grid connection right there!
I remember many such screenshots from Mr Parsons previously. Keep a copy. It might disappear. The timelines are liquid. They are likely to be missed. But take notice of : " Intoduction of Cornerstone Investors". There sounds the death knell. If you own shares or are trading shares in RGM, be long gone before that date. That is the rinse and repeat. It was originally Marco Fumagalli / CIP partners / Greenberry and such that would be introduced at this stage. Now C4Energy has been formed. They didn't manage to get hold of the debt at RGM, yet. This is the cash raise that will squeeze the life from the company. Small shareholders have seen nothing to compare. There is a tidal wave coming to wash away the last vestiges of value. Do not be enticed to invest.
Crowland Street Industrial Park
These type of facilities tend to be in rented warehouses/ industrial units, or on rented industrial land.
according to the presentation link that Stephen gave.
Just googled Crowland Street and it has a dog kennels, a car rental company, a Screwfix + a few other establishments.
Are we sure this future peaker plant isn't just a rented office on Crowland Street?
In my opinion be very aware. We have seen no photographs of it.
The cup does indeed rubbery over. The board is too busy to answer questions about the Mambare JV. Is that not the flagship? Yet RGM has been told to pay up or get out. They cannot pay up they have no cash. The shares are worthless so no collateral there. A minority interest is the best on offer. Best not to ask the new management. They are too busy buying battery chargers from Halfords in Southport in order to sell premium energy to the national grid. They need to hide the continual failure.
http://prntscr.com/qvgqgh
Our cup runneth over with news !
Your usual detailed and incisive analysis I see.
What an absolute load of tripe - haha fair play they are really trying hard to suck the naïve punters in to flip the placing shares. Lets see how many suckers are out there that still fall for it !!!!!!!
Stephen - If the RNS is legit why not look at Vanadium flow batterys instead of Lithium ion . . . .Nod Nod Wink Wink