The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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We know each other.
Seriously Helpful and Longterm, just meet on a park bench somewhere and come to an agreed position. Together you can bend Mr Bell to your will.
Some here are clearly delusional if they think the leopard will change his spots.
Since RRR has not RNS'd it here is the body of the JMS/Juno RNS:
JUNO MINERALS IPO TO PROCEED
ON DELAYED TIMETABLE
Jupiter Mines Limited (“Jupiter”) (ASX: JMS) advises that the demerger and initial public offering
(“IPO”) of Juno Minerals Limited (“Juno”) is to be pursued, but on a delayed timetable.
A General Meeting of Jupiter Shareholders will be held by the end of April to re-approve the capital
reduction and demerger. The proposed ASX listing of Juno is expected to be completed in May.
A Notice of Meeting and Replacement Prospectus with full timetable will be lodged shortly.
The regulatory requirements of the Foreign Investment Review Board (“FIRB”) referred to in the ASX
announcement of 8 March 2021 are an obligation of applicable investors, and not of Jupiter or Juno.
Accordingly, it will be removed as a condition of the transaction and Jupiter will be able to effect the
in-specie distribution and capital reduction after shareholder approval. Details will be provided in the
Notice of General Meeting.
Jupiter’s CEO, Priyank Thapliyal commented, “so as to not lose time in implementing the Mount Mason
DSO Hematite Project, Juno management continues to progress the various work-streams during this
delay. These include expressions of interest for tenders on major operational and capital contracts to
fast-track the construction at Mount Mason to leverage the robust iron ore market”.
Jupiter would like to thank all its Shareholders and IPO applicants for their patience, and looks forward
to progressing Juno Minerals to deliver the delayed ASX listing and the Mount Mason Project.
For, and on behalf of the Board
Why should I prove you wrong?
You have got AB's number, you call him and discuss things with him. There is no point in you going on at me: 1. I don't respond to that behaviour and 2. I have a different view on the way forward.
If you want to get a syndicate together and bid for our stock, feel free. Once you have control you can do what you want. There is no point bidding us anywhere near the current price. You know how this works: 50% +1 and you call the shots.
Thanks
Good news means nothing. No one buying while Bell there. Prove me wrong. Why no upwards movement to ANY positive news. The Bell opens his mouth and the SP sells off
https://twitter.com/pauljohnson9691/status/1371380001967325184?s=19
More good news..
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20210315:nRSO1861Sa&default-theme=true
RRR has shares and warrants in POW. Will this be POW's first in specie distribution?
DYOR
Which will likely do nothing to the share price as usual - because no one wants to buy here whilst Bell wastes money ALWAYS. Useless CEO. It’s a pattern that you cannot deny. It doesn’t matter if RRR sells an asset for £10m - no one values it whilst Bell wastes money. 13 years and he’s delivered - NOTHING. Get the guy out and you see our true value. Would love to be proved wrong as I own a lot of shares here but he’s a joke
Good news on Juno.
Expediting the Mt Mason work programmes.
All good news for RRR.
DYOR
Unlike most on here you are financially astute and financially educated. If you read the RNSs and the accounts, it is quite clear where the money has gone. RRR had to make stage payments to Kansai for the Migori transaction.
I have said to you multiple times. We need evolution not revolution. The board was changed at the AGM and I expect it will change more in due course.
Now is not the time to cause unnecessary problems, if you feel differently that is fine.
We need the exploration programme in Mikei kicking off, we need the update on Luanshimba, we need news on the RRAL listing and confirmation that Juno is back on track. I expect we will get a result on Adidi Kanga and we are due a new license in DRC.
FYI re Juno
https://www.pinsentmasons.com/out-law/guides/australias-foreign-investment-regime#:~:text=Foreign%20investments%20in%20Australia%20are,Investment%20Review%20Board%20(FIRB).
I wouldn't be surprised to hear that ABP don't know their rear end from their elbow on this matter. I have had someone look at it and his view is that ABP do in fact not know their rear end from their elbow.
Lets see.
DYOR
To point out when I say "let's not forget". The loan facility could have easily been missed by shareholders because it was first mentioned when it was buried deep in the 2019 final results RNS. At that time it was a $1 million loan facility and $200,000 had been drawn down. Then you found out in the 2020 final results RNS that it was now a $2 million loan facility and $1.4 million had been drawn down.
Let's not forget Bell also set up a RRR subsidiary company called 'RRR coal ltd' and then through that subsidiary he used Red Rock's assets to get a $1 million loan facility then recently updated to a $2 million loan facility with YA and Riverfort.
If I recall correctly buried away in the December final results RNS it said Mr Bell had already drawn down $1.4 million. So I think it's pretty sure by now he's fully maxed out the $2 million. The final results RNS says that repayments will begin in June 2021 and the loan must be paid back over a 6 month period.
I’ve said this many times - but for some reason Helpful wants to keep this CEO (who STILL hasn’t explained where the £1m was spent that was raised in the middle of last year that seemingly went unnoticed). I only own 2% of outstanding shares now, and won’t buy more until Bell is gone. All he would do would be to see the price rise and fundraise/dilute again, so I have no confidence with this person in charge of sustained value. It’s disgraceful and he needs to go!
benefit for shareholders? Is there any?
Reading Orion10, it is evident that hindsight is a wonderful thing BUT, we must move forward.
On the assumption that HELPFUL & LONGTERM who seem well connected to the BOD are not, but are aware of, the Mr Topham who holds 16% of the shares, is it not possible for them to put forward a strong candidate for the Board, who would provide the blinkers that AB needs, to bring these projects to a fruition, for the benefit of ALL Shareholders.
https://www.mining.com/copper-price-up-as-chinese-imports-surge/
Helpful Tshipi was in the works for some time but irrespective I have never claimed credit for Tshipi. I have at every juncture said it was a world class asset. See my posts on Hot Copper. Too tired to repeat but in a nutshell notwithstanding Tshipi has been a great success and paid out generous dividends both JMS and RRR failed to grasp the nettle and position in iron ore. If they had -given the institutional support Pallinghurst had at its disposal like Investec -and Posco - JMS and to some extent if RRR had remained the stalking horse it too - could have generated huge wealth for their shareholders like FMG and MIN. Significant capital appreciation as well as dividends. There is no comparison between wealth generation in iron ore and a commodity like manganese.
It's still not too late for RRR if it wanted to become an iron ore player . All I get is 'iron ore is for the big boys' which demonstrates a complete lack of understanding in the UK of an industry that is minting more billionaires in Western Australia than all the other commodities combined.
You resigned as a director in May 2009. The tshipi deal with Pallinghurst was done 14 months later.
https://www.proactiveinvestors.com.au/companies/amp/news/137535
Good post Orion and one of the aspects of JMS management I could never understand- no need to pay 14-18% divis when 6-8% would have been suffice with further development of assets. Annoyed me that they didn’t make a bid for the port too at the time. JMS seem to lack ambition and it shows. A one trick pony. Annoying RRR have failed to mention that the IPO won’t go ahead and considering its material, that’s well below the line. This is why AB is getting such a poor reputation in my opinion.
My estimate of 2p is looking a long way off now and I thought we had turned a corner. And to top it off, i Honestly can't see what will send this share back up? Starting to dread Andrews updates!
I am the individual who instigated the successful takeover of JMS by RRR with the assistance of Brian Gilbertson and Pallinghurst -against all odds - and vehement Chinese opposition. All so long ago --- The Tshipi manganese asset was a very good acquisition and has paid off handsomely.
Having said that Priyank Thapyilal and the board failed to carry on with iron ore and position the company as a multi billion dollar enterprise like FMG when they had that opportunity. I put countless iron ore projects on Thapyilal's desk over the years which he ignored. If they had listened to me JMS would not be sitting on a small hematite resource but a very large resource with iron ore going ballistic - boasting a market capitalisation fifty times it 's present market cap. They had and still do have the firepower if they had aggressive management who understood iron ore and positioned -like MIN for instance. RRR also had the opportunity to continue to leverage iron ore -to have used my/our expertise on a continuing basis.
RRR would now be sitting pretty if in the past few years they had also listened to me when through intermediaries I offered iron ore projects that would have RRR with a vastly increased market cap with exposure to the best commodity on the planet. ( I have a new IPO --Peregrine Gold listing next couple of weeks on ASX for which I assembled all the acreage and just completed deals with THR and TKM -including iron ore.) I have lots more iron ore .. When will the board of JMS grasp the nettle and use their firepower !! I know of a sizable iron ore resource 60% + Fe right now that would put JMS into the big league . And I have smaller iron ore prospects that would light a fire under RRR too.
Did it all before -still doing it -iron ore potentially heading for USD $ 200 tonne ! As for the pension fund - interesting indeed.
1. No one knows when at the moment. All avenues need to be explored. I have given them a couple of ideas.
2. This one is not a AB's door. Priyank and the CEO have been driving it.
3. The pension fund doesn't want the iron ore assets developed.
4. The shareholders voted for the spin-out and that is what will happen, one way or another.
DYOR
Helpful any idea about timescales to get it sorted? I thought AB for once had something going for us but alas no. Can the man do anything right?