We would love to hear your thoughts about our site and services, please take our survey 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.
Au contraire. I would suggest that it is a pretty good description.
Why does someone who, according to him, has no financial interest in a company, post incessantly across multiple platforms and do his best to mis-represent what the RRR, RGM and Mayan are doing?
Facts:
Para Resources has done two equity raises and raised debt. The debt is $14mil against a gold supply contract of 44,000 ounces over 54 months. It has stated that it will reopen the Gold Road mine in October 2018. It is processing gold at El Limon from the El Limon mine and the artisanal miners.
RRR has shares, warrants and a royalty: according to our resident expert investor, this is worth nothing because it is not money in the bank.
Either the expert investor either doesn't know what he is talking about or he is a troll. It could of course be that in this case both apply.
Troll?
Perhaps not the most trustworthy source of data in every case, but Wikipedia's definition of "troll" seems about right:
"In Internet slang, a troll (/troʊl, trɒl/) is a person who starts quarrels or upsets people on the Internet to distract and sow discord by posting inflammatory and digressive,[1] extraneous, or off-topic messages in an online community (such as a newsgroup, forum, chat room, or blog) with the intent of provoking readers into displaying emotional responses[2] and normalizing tangential discussion,[3] whether for the troll's amusement or a specific gain."
Except the poster who you were referring to doesn't really satisfy that definition at all. I guess Wikipedia must have got it wrong after all...
Oh, if only we were as educated and well informed as you Helpful, we might make something of our wretched lives.
He does the same elsewhere, non-stop.
Helpful Best to ignore him. What motive does he have to post daily?
All that effort from one troll, why? Life is too short?
I have not unfiltered the trolls so I am responding blind.
Someone has just lent Para $14mil against future gold supply of 44,000 ounces.
Get over it. Para is going to do okay: RRR has shares, warrants and a royalty.
Register on a course, "Investing for Idiots". You might learn something or maybe not.
Helpful - "If you think that the only thing that has value is cash on deposit then you need to stick switching your remaining £250 or so between building society accounts."
Well it's a good job some didn't take the value of the Jupiter shares as a literal value isn't it.
At the point when Jupiter relisted on the ASX the JMS shares held by RRR were worth approx. £4m.
Today their notional value is about £3.6m
So in just a few months those shares have lost nearly half a million in value, which for a company with a tiny £4m MCAP must be significant !
As I said, I'm not so naïve as to assign much significance to the notional value of those JMS shares. With AB having a seat on the Jupiter board it is unlikely that he will sell the shares and the past history of the previous "management" of JMS shares they had is there for all to read.
Helpful - "I am sorry it sticks in your craw but things are going well for RRR"
If things are going well then tell me why there haven't been RNS's to update shareholders on key areas?
1. Why has there been no RNS update on Shoats Creek since partner Mayan pulled out of the venture, relinquishing its 50% working interest there and stating :
"The relinquishment will also protect Mayan from potentially significant Plug & Abandonment ('P&A') liabilities associated with abandoned well bores at Shoats Creek."
Surely shareholders should now be told where this has left RRR?
2. Where are the El Limon royalty revenue figures for quarter ending June 2018? We got the paltry figure for quarter ending March 2018 so where is June? We are now in Sept ! I can only personally assume the numbers are not great.
3. Where are the production figures for Steelmin if it is now in commercial production? Production rates? Production costs? Profits?
Point of note. In English, when you use quotation marks it is typically to quote someone and when you do, it is normal to include actual quoted text rather than just invent your own text.
YOU personally may attribute meaning to the notional value of any investments held by RRR and as everyone has previously seen you are quite willing to pull the old "sum of the parts" sleight of hand in your posts. Not everyone has the same view. Having seen the history of the JMS shares, which I outlined below, I'm very happy to pretty much ignore the notional value of any shares RRR holds, that's simply experience over theory. The sum of parts trick simply doesn't apply to companies like this imo because the "parts" are never straight forward and the likely increase in share issue is never factored in, neither is the past company performance for that matter. Brokers are renowned for pulling this stunt.
And trying to lump RRR and its BOD in the same league as Apple, Twitter or Shell is utterly puerile.
The rest of your post is the usual 90% personal insult which outlines eloquently how keen you are to suppress other's viewpoints that don't gel with your own. However since you are one of the holders of the £1m Convertible Loan Notes convertible at 0.8p I can see why you would want to pump this.
More on Para Resources from earlier in the year: this is what the Pandion financing is to be used for.
https://www.bloomberg.com/press-releases/2018-06-20/para-releases-request-for-proposals-for-contract-mining-at-gold-road-mine-in-Arizona
"This is an important step for the Gold
Road Mine as we move forward with our plan to start-up mining operations in
October of this year. The ramp up plan contemplates initial production of 250
TPD growing to 500 TPD in early 2019."
Tragic I have you on filter but when a message is filtered BB indicates that it exists. I just logged out to see what nonsense you are spouting now.
You really do need to get help mate.
"Shares don't have value until they are sold" or some other such drivel. Well if that is true, the same applies to BP or Shell or Apple or Twitter etc. If you think that the only that has value is cash on deposit then you need to stick switching your remaining £250 or so between building society accounts.
I am sorry it sticks in your craw but things are going well for RRR: it is not my fault that you invested big time in RRR six or seven years ago and didn't know what you were doing. From the infuriated rants I occasionally see, you still don't understand how the investment process works.
xx
Helpful: "RRR has shares"
Which sound all nice and fluffy but the reality is that any value in those Para shares means very little until and unless they are actually sold. If AB doesn't sell them then what use are they to shareholders here? Problem is there is a history here of "managing" such share investments.
RRR once held in excess of 74m JMS shares which at one stage were worth in excess of £25m. History recounts that this BOD sold a small amount of those shares at their high price (55c) and then sat on the rest whilst the Jupiter share price tanked over many months and then eventually sold the lion's share of them for an absolute pittance. In my opinion., absolutely awful management of an investment. Why would anyone expect Para shares or indeed any other shares held by RRR to fare any differently? It is after all, the same BOD running the show.
Helpful: "and a royalty. Do the numbers boys and girls."
Ok I'm doing the numbers on this royalty. RRR needs to recoup $2m from the 3% NSR and a further $1 from a 0.5% NSR.
The last reported royalty revenue was for quarter ending March 2018 and was stated as a paltry $13,658
That equates to $54,632 per year so to recoup just the first $2m is going to take . . . .
2,000,000 / 54,632 = 37 YEARS !!!!!
Wow really ?!!! 37 years just to recoup the first $2m of that royalty. Genius !
Anyone here planning on being around for 37 years ?!
Anyone here think RRR will still be here in 37 years ?!!!
Para has to supply 44,000 ounces of gold over the next 54 months; RRR has shares, warrants and a royalty. Do the numbers boys and girls.
(1) Andrew Bell says: "We are also a set of projects, of concepts: for ‘a man’s reach should exceed his grasp, or what’s a heaven for?"
(2) Andrew Bell says: "Sometimes it may be that these companies benefit by not being held back by the prosaic dullness of balance sheets or earnings, so that, undistracted by the light of common day, we may better hear the trumpets from the steep as they blaze, trailing clouds of glory, across the sky"
.....................
Well thanks Andrew you made that nice and clear for shareholders.
Who is we?
I am in profit here and have banked profits before. JMS has come to fruition; we just need the dividend confirming in the next couple of weeks and the cycle is complete. Steelmin looks okay; it needs a bit more work. DRC; AB obviously thinks that is a done deal now. On other bits and pieces he is close but not quite there. Para looks to be doing okay to me.
https://www.bloomberg.com/press-releases/2018-08-14/para-closes-c-18-8-million-us-14-45-million-pre-paid-forward-gold-purchase-financing-with-ppg-arizona-holdings-lp
The newsletter made me laugh, cry and angered me too. This guy is unbelievable. He talks a great job but we never seem to make money. Nothing comes positively to fruition. He should ask himself why have investors not be trampling over each other to top up here. I think I know the answer. Its about credibility.
Steelmin is producing commercially, RRR has stated as such. It is EBITDA positive, what it is not doing is generating enough cashflow to meet its full working capital requirements, as AB has indicated. He has indicated that RRR will support Steelmin through to profitability (not the same as EBITDA positive) in exchange for control.
RRR has funds at its disposal to support Steelmin but it could also do another YA Partners type deal where the costs are passed through to Steelmin.
For example re working capital, AB was interviewed and indicated that some kit was needed to add to the cooling system so that the plant could operate at 100% capacity.
If RRR goes over 50%, Steelmin gets treated as a subsidiary and its income figures get included in RRR's figures.
A newsletter is out, updating things.
DYOR
Dont think so, we are going to invest to take charge in the project.
RRR has cash to do so.
I've sat through many of Andrew Scott's interviews, both in person and on video, but have never seen him apparently so perplexed. The RRR investment case gets more and more confused and unconvincing as time goes by...
Steelmin not yet producing commercially and need further financing from RRR. I wonder if RRR will have to issue more convertible loan notes?
How much will it cost to get the cobalt asset in production?