The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
So no possibility of:
1. Sale of assets?
2. JV of assets?
3. Taking on debt?
Apart from that you are obviously spot on. You are also assuming that there is no progress with DRC: just because you make an assumption doesn't make something a fact.
There is nothing stopping RRR selling out of NBGC or reducing its position in ALR etc
And as to issuing more shares it just needs to get an authority at a GM.
xx
What part of that is wrong? No new shares allowed it’s the end, new shares allowed it’s a delayed end.
Make up your mind Lomax. A couple of days ago it was the end of the world if RRR issued shares and now it is the end of the world if they don't issue shares. You will say anything to get the price down so you can buy back in for a quick trade.
And more proof. This is akin to dogs barking at the moon.
Go and look stuff up.
Look up authorised and issued share capital: authorised as in authorised by the passing of a resolution at a General Meeting and issued, as in have actually issued the shares.
The CLN RNS refers to existing authorities as in it refers to the system above; those shares have been authorised and issued but now the company has no further authority to issue shares. Consequently, the company will need to seek new authorities at a GM: authorities as in plural, an hypothecated authority for the conversion and warrant shares and then a general authority to issue shares.
Without a general authority it cannot issue more shares.
If you don't understand what is going on, why do you insist on banging your gums so vigorously?
https://www.legislation.gov.uk/ukpga/2006/46/contents#:~:text=Companies%20Act%202006%20is%20up,force%20at%20a%20future%20date.
You can find RRR's Articles of Association on Companies House.
DYOR
Yep I’m afraid it’s a few months away from a fire sale. How much are the assets worth?
Helpful it's as clear as mud but your familiarity as you suggest means you should be right particularly as it relates to CLNs which you have a conflicted interest in.
So AB prevented from issuing shares. RRR burning cash , DRC remote. Elephant overvalued, POW idea from liquid unlikely.
Options - farm out of part of ALR as suggested by Zumore. Load up with debt secured on assets.
I think the company is in real danger and whilst their may be value in some of the assets, the current situation infers that value will accrue to CLN holders debt holders and creditors. Whether that is through poor management or by design I just don't know. But no headroom ( which no one would have worked out without Helpfuls input) is a real red flag.
31st May 2023 poster 'Helpful' (or Stephen Lundy) wrote:
" ALR is funded to production and if it needs more, we will put more in"
I've said this before. I hope Andrew Bell is reading this.
What Red Rock should do, is give up some of its 46% stake in the RRR/ALR Zimbabwe project and then let Stephen Lundy and his two ALR co investor client/friends fund the next stage of the Zimbabwe project in return for a bigger stake.
Seems a good idea to me. 🤓
"Until the establishment of the Note Conversion Price, Investors may from 28th July give notice to convert Notes up to the Share issuance level covered by existing authorities"
You have already had the answer. Read above from the relevant RNS. RRR has no authority to issue more shares otherwise the above would not be necessary.
The existing authorities (they hypothecated authority) only cover 33% of the CLN conversion shares excluding interest and RRR has no further authorities it can use. It is not rocket science but it may be familiarity.
DYOR
Helpful lots I don't know.
Reported issued shares in last link you posted 2570m.
Really simple question you said there was no headroom so what's the authorised ceiling. 2600m 3000m a different number.
I can't make my question any clearer but you have not answered it. Many thanks
Banboring, nothing I said was inside: it is company law and RNSs. Another thing you don't know: look up TVR. It is in the RNSs.
https://www.londonstockexchange.com/news-article/RRR/exercise-of-convertible-loan-notes-tvr/16094181
DYOR
I hope you don't mean Corcel after Mr Bell left Regency.
There are a few out there in this market and spread your own risk.
I also like POW at these 0.7 levels and KAV at 0.6 with their 1p financing due on the prospectus and a few others but RRR has the ability to easily rise 50, 100, 200% imo and I think you know that too. Even a 50% rise is good from 0.15?!
There is no emotion....just continued years of proven lying and failure by Andrew Bell.
That is very likely to continue.
There is another stock that holds greater multi bag potential with much less risk
Still an asset on the balance sheet and still something they are paying for regularly.
Just because it isn't on their commercial update doesn't mean they do not want to IPO Australia. We all know they do.
Take the emotion out, still a trade at 0.15? without ability to raise capital?
Squeeze is there again from this level?
Imagine the rise on a deal with the Chinese or further EIA certificates? Lithium grades?
or the DRC approval or Elephant Oil listing or Australia being sold to POW or another company?
Question is....is there upside from 0.15 with the dynamics above?
Take a moment and then answer NO
POW comerical update 4 weeks ago. No mention of Victoria gold focus in the highlights
Highlights:
-- Multiple corporate initiatives underway to optimise Power Metal's positioning ahead of a resource sector recovery with work advancing concurrently across various business interests.
-- Accelerated exploration underway across the Company's Athabasca uranium interests in Saskatchewan, Canada and the Tati Goldfields project in Botswana.
-- Intention to apply for OTC listing for easier trading of Power Metal shares on market by US investors.
-- Appointment of Financial Adviser to Uranium Energy Exploration for their planned listing, the Company's first uranium project spin-out listing.
Liquid the EIA did not cause the spike. It was the untruth that sales could begin immediately. The naive were sucked in
Calm.
I was talking about POW and their IPO's (good track record) and the justification for POW board buying RRR's stake.
Regardless of Mr Bell.
Needless to say when RRR borrows if it can't issue shares Andrew will apply the law of disaggregation. That is lots of small loans all below disclosure threshold and drag heals on accounts publication. The cap fits and RRR and AB wear it beautifully. Rotten governance and even worse management.
Madoff has bee IPO'ing for the past 5 years and IPO'ed nothing but massive dilution and a 99% drop.
Great track record of IPO'ing
Depends on the news and even you wouldn't have said a simple EIA certificate would have spiked 80%.
Also interested in IPO'ing their investments and easier owning 100% of something rather than 49%.
Pay £1m - value the asset at £2m.
IPO for £6m and raise £2m cash.
Profit upside on their investment at £8m IPO
Model is there for all to see regardless of your thoughts of Mr Bell.
Yes, that was the spike to sell out. Any spikes now will be less as even the new investors at 0.2p are desperate to bail
Thanks Helpful we are not all in the privileged position of being insiders so grateful if you could indulge me.
Simple questions what's the authorised share capital ? I'm assuming it's marginally above 2544m current issued share capital. When I see written confirmation of that I will agree there is no headroom. Thanks
on the contrary helpful, i have been tapering in here for the spike but it's still a dog****** company 😉
you still have a loss position in ntog so maybe it's you who need to get back there. kissy kissy x