Firering Strategic Minerals: From explorer to producer. Watch the video here.
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"A full corporate rebranding is expected to occur during the course of 2020, likely timed to coincide with the Company's first material asset transaction"
Super interesting comment that one.
Suggesting more than one project coming.
It is the RGM annual general meeting today. On the day of last year's general meeting they also released an early morning RNS.
They say they have a project near Southport. Yet nobody has ever seen a photograph of it.
RNS Number : 4991B
Regency Mines PLC
31 January 2020
Regency Mines PLC
("Regency" or the "Company")
New Investor Presentation,
Company Secretary Appointment,
Directors Dealings & TVR
31 January 2020
Regency Mines Plc (LON: RGM) the battery metals and energy storage company announces the release of a new investor presentation, which is immediately available at the Company's website.
The Company also announces the appointment of a new Company Secretary and the issue of 481,662 ordinary shares, 3,040,567 options and 438,596 warrants further to commitments made prior to the recent restructuring as announced on 5 December 2019, but only executed now due to the Company being out of a close period.
Investor Presentation
The Company has released a revised investor presentation, which sets out its strategy across the battery metals and flexible energy space. A full corporate rebranding is expected to occur during the course of 2020, likely timed to coincide with the Company's first material asset transaction.
Company Secretary Appointment
The Company also announces the appointment, with immediate effect, of AMBA Secretaries Limited, as Company Secretary.
Director Legacy Remuneration Shares and Issue of Warrants
Nigel Burton and Ewen Ainsworth joined Regency Mines as a Director on 24 June 2019 under an arrangement where 42.5% and 48.6% of their respective annual Directors' fee was to be paid in shares. Accordingly, to clear historic balances the Company has issued 122,312 new ordinary shares to Mr. Burton and 190,929 new ordinary shares to Mr Ainsworth for the period from June 2019 to December 2019 (of the 190,929 shares awarded to Mr Ainsworth, 141,901 new ordinary shares have been issued to Discovery Energy Limited a company controlled by Mr Ainsworth). This deals with all outstanding legacy issues and the Non-Executive Directors of the Company are now being remunerated on normal market terms.
Consistent with the Company's strategy of preserving its cash balances, a further 168,421 shares and 438,596 warrants (at yesterday's closing price of GBP0.0285 have been awarded to consultants and advisors for services to be provided during 2020.
CEO Option Awards
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 GBP0.0285. These options carry performance criteria under which vesting can be accelerated. These options were unable to be awarded as part of the recent restructuring due to the Company being in a close period.
Director Shareholdings
The Fee Shares and options issued to Directors have been included in the table below, which sets out the total shareholding and interests of three of the Company's Directors in the enlarged share capital of the Company.
Director Direct Indirect Total % Warran
RNS Number : 4967B
Regency Mines PLC
31 January 2020
Regency Mines PLC
("Regency" or the "Company")
Launch of Flexible Grid Solutions Division
Board Approval to Progress First Project
31 January 2020
Regency Mines Plc (LON: RGM), the battery metals and energy storage development company, is pleased to confirm the rebranding of its "Energy Storage" division to "Flexible Grid Solutions" and Board approval to progress its first project to financial close with maiden revenues expected by the end of 2020.
Highlights:
o First project in Southport approved to progress to mid-year Financial Close with estimated project costs pre Financial Close to be covered from existing cash resources
o Local Planning Authority and SEC 11MW Grid Application in Progress
o Maiden Revenues expected by end of 2020
Scott Kaintz, CEO, commented: "I am delighted to report that having recently acquired 100% of the business, Regency is now focusing its Flexible Grid Solutions division on its first project at Southport with a view to securing near term revenues. The Southport project is fully aligned with the decarbonisation of the economy, the power grid and associated distribution networks. The project is also aligned with the requirement for flexible energy options to buttress an ever-increasing reliance on renewable power and the net zero emissions goal of the UK Government."
Division Rebranding:
The Company has elected to re-brand its UK energy storage business as Flexible Grid Solutions to better reflect the breadth of activity involved in supporting the transition from centralised large scale fossil fuel intensive plants to smaller distributed sites with flexibility to switch on and off as required, often buttressed by battery installations.
Sanction of First Project:
The Company views the use of "peaker plants" and the associated battery storage in support of the electricity system as a critical component of the energy transition as power networks and energy markets evolve to accommodate changing demand and supply profiles, decarbonisation and the emergence of EVs.
The first project is at a development site in Southport, near Liverpool, and will initially involve the installation of a gas fired "peaker plant" with 7.2MW generation capabilities. These plants ease pressure on power networks by levelling out imbalances in supply and demand, generating and selling electricity when prices are high. This will then be followed by up to 4MW installation of energy storage using containerised lithium ion batteries. This then provides the site with the ability to both produce power when appropriate and store it for onward sale into the grid during periods of peak demand. The purchase of inexpensive power from the grid during off-peak times or when renewable production is higher than expected is also then possible through use of the battery installation.
The Company is pleased to confirm that the Board has approved to progress, with initial cost
I note (since I posted the link) quite a few additional views of the 2018 partial Scott Kaintz UK Investor show presentation. So for some of the newer investors i'll try to be helpful and give some updates of some of those assets/investments that were mentioned in that 2018 presentation.
(1). The £400,000 that RGM management invested in car rental company "White car":. White car went bust so unfortunately that is now worth nothing.
(2). The chap who was complaining to RGM CEO Scott Kaintz about RGMs near £2 million investment in Wetherby's Stephen Moscicki's coal projects:. RGM management wrote that money off so that is too worth nothing
(3). Former chairman Andrew Bell + present RGM CEO Scott Kaintz were in video assuring the disgruntled RGM Investor that the Moscicki coal disaster was just an apprentice error, and this time they had found a new coal project that was a sure fire winner because it had made profits for 8 years in a row. So Scott Kaintz and former chairman raised millions to invest in that: of course in just over a year that too had gone bust.
(4) I'm sure in video RGM CEO Scott Kaintz talked about the £575,000 that he and Andrew Bell invested in Curzon energy. Today that investment is now worth around £60,000 to RGM. On the plus side RGM CEO Scott Kaintz became CEO of Curzon energy. I believe he became CEO when Curzon was around 3p...they are now below a penny.
Probably wisely RGM management decided to not present at the 2019 UK Investor show.
Interesting to see sells below the placing price of 2.75p. Suggests to me personally that the beneficiaries of those 2.75p shares are cutting their losses whilst they can before the SP drops any lower and that equally they see that the SP isn't going anywhere for a long time due to the enormous amount of shares issued at that price.
303,053 shares sold at 2.70p on 28th
250,000 shares sold at 2.675p on 29th
Also a couple more today in the last couple of hours of approx. £10k each at 2.65p/2.66p
Maybe they are nervous of further dilution coming which may be issued at prices below the 2.75p they paid?
Either way doesn't bode well imo
DYOR
Mr Partridge ,If you did you research and listened to the presentation link posted below dating May 2018 ( only 18 months ago) , at 5.45 mins and 14.30 mins the now CEO wants to be the train driver and drive the train and has been trying to "flush their partner out" ,questioning whether their partner will be joining them for the journey that at the time was starting in "just a few weeks ."
It's funny. All the way to Australia to sort out:
" 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"
and what is achieved? The pertinent line in the recent Mambare update is:
" Recent activity at Mambare has been led by Oro Nickel Joint Venture partner, Battery Metals".
I wonder if they were told to put that in? Doing none of the work and not paying a fair share is all well and good, but trumpeting the results might be beyond the pale. It would appear Regency has been given a deadline and should be " exploring various alternative JV structures, including a re-framed JV arrangement". The clock is ticking.
"I am staggered the major shareholders (who clearly had a lot to do with the re-finance etc) did not remove SK at the same time as Bell.
Everyone wants to hear from Parsons about future direction and prospects, wheeling out SK is poor form and an extremely bad strategy, it simply plays into the hands of the massive amount of bashers that work the boards daily"
........................
Yes Hawaii i agree. I believe 4 directors at RGM, three of them fairly new, yet the one doing the interviews (and RNS commentating) is the wretched face from the past, you know and i know Scott Kaintz useless mitts are all over RGMs previous disasters.
Here is Scott Kaintz presenting the 2018 RGM UK investor show https://www.youtube.com/watch?v=BvrxeSURz2o&feature=emb_logo . At the 16 minute mark a peed off investor starts complaining to Scott about RGMs awful Stephen Moscicki coal investments (RGM squandered £2 million in them). Scott lasts about 2 minutes before dreadful past chairman Andrew Bell steps up on stage to save the useless out of his depth Scott.
As you know Scott also got his chance to become CEO of Curzon. In April of 2019 Scott did an interview https://www.youtube.com/watch?v=wih4ZC1Mf84 . He tells the interviewer 2 well drills would happen within 3 months, she asks about production and he says "immediately". It was all a lie from Scott because no drills happened .
I believe the RGM AGM is in a couple of days and Scott Kaintz + the other RGM directors are seeking re-election. Unfortunately with YA and Riverfort jointly holding near 30% of RGM stock, i'm sure they will all get re-elected. But back to your original point, yes it is idiotic that Kaintz is presently the face of the company.
Don't worry. With Mr Parsons on board that business model is going to go into overdrive. Much more of the same.
Also don't forget that this company was incorporated in 2004 so it has had over 15 years to progress from being a (cough) junior explorer to being a strong income generating company. Yet all it has effectively done is issue billions of shares at ever more discounted prices destroying the SP in the process but giving the BOD a nice salary and copious expenses along the way. It's a well established business model, the problem is it only delivers value to the BOD and their cronies who participate in discounted share issues. imo.
Hawaii: "the confetti share issues with RGM has to stop also. "
You are deluding yourself sadly. RGM (and RRR) have both been dilution pits for years. It will never cease because there's little income and because issuing confetti is the basic business model. It was stated plain as day in an RNS last year in March:
https://www.lse.co.uk/rns/RGM/regency-mines-plc-corporate-update-y89bap8zbuj7876.html
"The current business model of Regency . . . . relies on the ability to access capital by the issuance of new shares to investors to fund ongoing working capital and project development requirements."
Confetti for working capital which as we all know means in no small part the payment of director salaries and ridiculous amounts on expenses.
This will never change imo. You've highlighted perfectly the problem here which is the astronomical amount of shares issued at the discounted price of 0.0275p (2.75p post consolidation). The shares are not worth anything above that price imo which leaves the holders of those shares struggling to dump them onto naive mugpunters at a premium. Small wonder you want some kind of news to try and spike the SP. The problem for those holders is going to be how long before the next pile of useless confetti is issued and at what price? I'd personally expect the next batch to be also discounted which could undermine the 2.75p holders. This cycle never ends imo. It's been steady dilution for the past 7+ years here and at RRR. And yes you are right in regards to Scott Kaintz. It's ridiculous that they removed Bell but left him. The entire old BOD has to go for many mugpunters to even consider looking in here imo. The old BOD here and at RRR have shown themselves to be completely untrustworthy imo. They have to go simple as. DYOR
I am staggered the major shareholders (who clearly had a lot to do with the re-finance etc) did not remove SK at the same time as Bell.
Everyone wants to hear from Parsons about future direction and prospects, wheeling out SK is poor form and an extremely bad strategy, it simply plays into the hands of the massive amount of bashers that work the boards daily.
Having issued 70m shares at 2.75p (out of 86m) it will need significant volume to wash these through the market, that needs material news to excite the market - the confetti share issues with RGM has to stop also.
SK seems to think the share price will not be 3p in 6 months but far higher well bring it on.
Regency Mines PLC
Full interview: Regency Mines 'in the right place at the right time and with the right team' - CEO Kaintz
Regency Mines PLC's (LON:RGM) chief executive Scott Kaintz updates Proactive London's Andrew Scott on the firm's recent developments with its projects and board changes including the hiring of James Parsons as executive chairman.
''We come into work with a bit of a chip on our shoulders'', Kaintz says.
''We're fully aligned, have a motivated team including a new executive chair ... frankly we come into work excited at the moment''.
That's lovely rhetoric Mancave but sadly doesn't alter the stark facts which are what really count.
Just a few weeks ago there were 1.5 billion shares in issues here. The BOD then issued over 7 billion more at the price of 0.0275p. This flooded the existing issue such that those discounted shares then represented over 80% of the resulting issue.
The shares were then consolidated on a 1-100 basis, meaning that the equivalent share issue price was 2.75p
Note that this share had already had a share consolidation on a 1-20 basis just 4 years earlier in 2015.
It doesn't take much common sense to realise that the shares here are not worth anything over 2.75p and those that imo foolishly bought at prices of 3p and higher were just giving beneficiaries of the 2.75p shares a quick easy profit at their expense imo. I have followed RRR and RGM for years and one thing is exceedingly clear. They have both always diluted shareholders brutally and thereby destroyed the share price. Just take a look at the 10yr charts to see the devastation.
What I have also observed is that if naïve mugpunters pay stupid prices for shares which were issues at a discount then the placees who made a nice easy profit will keep coming back to the trough for more of the same and the company will happily oblige them. That's the recipe for endless dilution and "death spiral financing", effectively placings at ever lower prices. The SP here has inevitably quickly dropped to that equiv placing price of 2.75p. It will stay there for some time imo because nobody is going to want to sell below that price and lose money. At the same time sensible people won't want to give the confetti holders an easy profit at their expense by paying more than 2.75p for shares. So you have stalemate. The problem is that position doesn't remain forever. Sooner or later the next batch of worthless confetti will be issued to raise cash (not least for salaries and expenses) and that will surely have to be done at discount again. What price will that be? 2p? 1.75p? So holders of the 2.75p shares will be wanting to get shot of them before any subsequent dilution imo and then get a nice new batch of newly discounted shares at the next placing.
The only people who win in these situations imo are the BOD and the crony placees and beneficiaries of discounted shares. All imo. DYOR
Hawthorn - N4APound has asked me to post the following as an alternate take of JP's Regency pitch:
"History is written by the victors.
And we are here, collectively to create a financial legacy for our families. A legacy for the countries in which we operate. And to make history.
We believe the opportunities presented in the natural resources market are worth £billions and here at regency we have a world class team poised to take advantage of the latest technology available to us in a deal that has been made with the leading subsurface companies around the world.
For 95% of our license areas I have made a deal with Looks Great on the Surface Plc to undertake world class evaluation of the ground using latest technology – they will deploy 40 trucks in convoy, that will decimate the earth, we will use divine rods and copper pots of water with magnets and rain dance techniques to determine where next we will not find any lithium, or cadmium or anything that is worth something, and we will leave no stone unturned to find all non-commercial areas within our asset base.
This technique of adding value, may involve a few cash raises from share issues – but these will be relatively small as time progresses and we will make sure you never find out who snaps up the shares purely because we do not want our investor base to get distracted from how great our technique of adding value is.
Prime example of success is sound energy – we took something on the brink of extinction, hyped it to high heavens to get all manner of people behind us with wads of cash and then got them to ‘invest’.
Several years and share issues later, not to mention many many multiples of bank balances achieved, we created an asset that was ripe for a buyer at a bargain basement price with huge upside potential. A couple of deep dives later we determined where the buyer should not carry out any activities thus making it hugely efficient for them to monetise the asset at a price that makes the future dividend payout ratios incredibly appealing to investors old and new.
We will do the same thing at regency mines and are just waiting for our new cornerstone investor to free their funds from sound energy, at huge profit, to reinvest here at regency. Exciting times ahead.
The Failure"
All tongue in cheek but this is the perception of many on the SOU board.....
Just observed from the SOU share chat board that RGM will now have the benefit of more of his expertise.
It may just be bitterness on my part because he contributed to me losing a large proportion of my investment in SOU (if not all) but I think not. It is more to do with the manner in which he made statements and promises to the shareholders about the value of their shares. This is not an allegation of his actions there is a great deal of evidence on this either on the LSE site or on records shareholders have retained.
Worryingly, for RGM shareholders, is the image that this chap has of his abilities and the reality. He clearly stated that SOU was worth a price of well above 50p and that he, as a champion deal maker would make this a reality.
He walked away from SOU (going to RGM) with a share price of less than 2p.
I am sure all of this has been posted by other SOU shareholders, some of whom I understand are looking to involve the regulatory authorities but I was just moved to make my own comment following the news he had finally formally left SOU.
Just to avoid doubt, it is not an issue to fail to hit oil/gas in this game - investors know and anticipate that - the issue here is the manner that the concept of a bottom level foundation of value was promoted by Mr Parsons.
Make your own mind up about what he is going to bring to this business...……….
H
Does anyone think Advisory and Finance Group might have actually fired Parsons, Traynor and Mitchener for failing to perform.
Leaving their man in place to take over the whole business on behalf of Mohammed Benslimane? i.e. OGIF.
It’s the Moroccan shareholders who can now ‘rinse and repeat’
" These discussions include exploring various alternative JV structures, including a re-framed JV arrangement and potentially the pooling of both partner's interest in the project "
Sounds like the screw is being turned by the JV partner. Pay up or push off. The best that will be achieved is a minority interest. No control. Lipstick for that pig will be at a premium.
There is no local road for them to misuse. The JV will need to put a purpose built road in place: a bit difficult to see how the locals can complain about that. Further the Govt of PNG wants these assets developed because it wants the royalties, taxes and license fees along with employment doing the trucking and shipping.
The nicked extraction business is an existing one in Australia and meets current environmental requirements, the only thing that would change is where the feedstock comes from.
DYOR
Lol at the rampsters trying to make something out of what is really a nothing RNS. They are having discussions and are still waiting for the exploration licence to be renewed which was applied for March 2019.
From the lack of trades it's clear the fish are not biting with this tidbit of news.
The age old MO of RGM (and RRR) is not going to fly any more. You're just not going to be able to dump billions of confetti shares onto unsuspecting mugpunters anymore on the back of wordy RNSs. You actually have to deliver real results and until you do the share is going nowhere imo.
The share has just been consolidated on a 1-100 basis. Just before that consolidation there were 1.5 billion shares in issue and the company then issued over 7 billion more shares at the price of 0.0275p (equiv to 2.75p now). Rampers imo will almost certainly be beneficiaries of those billions of 2.75p shares looking to dump them for a modest profit onto naïve punters here. Happily I don't fall for the "jam tomorrow" rhetoric anymore of such people. This is and always has been a confetti train. That will continue if people keep paying stupid money for confetti shares. The shares aren't worth anything above 2.75p imo. Over 80% of the total issue was issued at that pacing price. The SP will stay at that level for the foreseeable imo until the next batch of dilution hits.
Rampers obviously would like to be rid of their 2.75p shares before that happens imo. Why would I give them an easy profit at my expense by paying more than 2.75p??
thats the figure i need to get to not to break even! Thats how. My average should have been about 3p but since the various multiple sharee issues and devaluation of the company thats what im now looking at. My multiple thousand pounds are now worth £37. Bell is a turd.
averga in here is £2.73. What an absolute joke. The only thing that makes me feel better is that bell has lost a lot more of his money. I could bring my average right down, but I now dont trust this company or directors further than i could throw it.
So interview week of 27th; it must mean an update on the Peaker plant. I expect confirmation that they have committed to it, funded long lead items and have a funding structure in place.
The big long lead item is a grid connection.
DYOR