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Keep plugging Solomon Grundy . . . .
How much are you participating for when the inevitable Cornhill placing drops?
The first pour is planned for November 6.
https://www.metalbulletin.com/Article/3902025/Miners-make-further-sharp-cuts-to-manganese-ore-offers.html
Looks like the manganese price will fall further when Jupiter update their website on Monday. If the low manganese price continues i wouldn't be surprised if the Jupiter share price is near 20 cents come the end of the year.
The sooner people realise this is a lifestyle company the better , I see someone took 2 x 250 k today at .48 , gonna be here a hell of a long time fella trust me
Helpful: "As I said no need for a placing. £363k is decent"
Thank goodness I'm immune to ramper nonsense !
Admin Expenses alone here were approx £850,000 last year.
How does £363k come close to those expenses AND be able to contribute to the £1m+ or so CLNs that will need paying off on 19th Dec?
RRR hooking back up with Cornhill Capital is in most people's eyes here a guarantee of impending dilution. The history of RRR/Cornhill placings is there for all to see.
The only other option is selling down a shed load of the "family silver" Jupiter shares which will go down with investors like a lead balloon and with it will go the SP.
DYOR
Here's an extract from today Jupiter mines half yearly RNS:
"The cost of production remained steady throughout the period, averaging ZAR31.60 ($3.14) per dmtu. (HY2019: ZAR29.38; $3.03)."
As I said no need for a placing. £363k is decent. JMS are continuing to bear down on costs. The biggest change is moving from road transport to rail.
Well that's salaries and expenses covered for the next 5 months.
BTW Don't be fooled by today's change of broker to Pello Capital
https://www.pellocapital.com/
"Cornhill Capital has rebranded to Pello Capital"
Yes it's RRR's old friends Cornhill Capital who have facilitated numerous placings
in the past here.
Cornhill were fined £210,000 by the LSE for forward selling a 2bn placing to private clients for New World Oil & Gas. But the placing required a vote of shareholders and they voted against it. As a result Cornhill was unable to settle the sales with the result that there was extreme volatility in the share price and the listing was suspended by AIM. The company has subsequently delisted.
https://www.sharesoc.org/blog/regulations-and-law/cornhill-capital-fined-over-aim-placing/
Today's RNS is fair warning imo
If you buy shares here and find yourself suddenly facing a dilutive placing then you deserve to lose your money imo. The signs are all there imo. The £1m CLNs are due for repayment 19th Dec. Where else is the cash coming from?
DYOR and do it well.
JMS Divi, Para shares, royalty etc etc
None of that will change anything here and shareholders will never se a penny of any
success imo. The lion's share of any available monies goes to BOD salaries and
preposterous expenses.
Between 2012 and 2017 this BOD raised over £15m from devastating dilutions
In the same period they expended over £11m on Admin and other expenses.
That's where the money goes. That's why the SP chart here is just one long freefall
slide and has been for years.
Constantly pumped by the few remaining rampsters who are well down on their punts
here and / or sat locked in holding some of the £1m+ outstanding Convertible Loan Notes
which they will never get to convert. The deadline for those CLNs is this 19th Dec.
Where will the money come from to pay them down? It's either horrible dilution or
more pawning off of the "family silver" Jupiter shares imo.
Either of those will see this SP sink into the 0.3p levels imo.
Don't get duped by the ramper here who holds CLNs. Be sure to DYOR and do it well.
And how much will your clients be contributing?
Unhelpful, What price have they indicated to you?
Not required, JMS should declare it's dividend today or tomorrow, Para will stepping up its royalty payments, the Para holding will be worth decent money from here on in as will POW.
In the meantime we await the final piece of the jigsaw on Migori.
Money will be required for Musonoi but that will be project finance to bring it into production next year.
DYOR
Up 31%
Confetti o'clock is upon us once more. How unusual.
I confess that since my residual holding here is only worth £15.58 I don't really worry about this one too much. Wrote it off long ago, but look in from time to time.....
So placing coming.
Set up and AIM company. Talk about potential. Raise money. Repeat.
"Spreading awareness of our developing story" LOL the man is delusional!
RNS - Joint Broker ! Think we all know what this means - Struggling to get a placing away, which doesn't surprise me ! Hope all holders are ready for the heavy dilution which is heading this way at a rate of knots !!!!!!!!!
As mentioned earlier, the deadline for the £1m or so outstanding Convertible Loan Notes is fast aproaching, 19th Dec.
No amount of posting frivolous Twitter links is going to change that.
Where is the cash going to come from to pay them off? Surely Bell won't kick the can down the road again and roll them on for a 3rd year !! They attract 10% interest so that would be a poor result.
I predict he will cash in precious "family silver" Jupiter shares to pay down the CLNs which imo delivers zero value to shareholders here. If/when that happens I expect the SP to tank into the 0.3ps, just my opinion. Not good.
DYOR
https://twitter.com/RRR_RedRock/status/1189113625891524608?s=19
Gosh you are so right Ricky, we are obviously under mind control.
https://twitter.com/kjawoogie/status/1189057602497449985?s=19