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DesperadoRampster - "Maybe the market will realise just how cheap the company is," I suspect the markets are very well aware of how this company operates and what "value" there is in available cash. DesperadoRampster - "Current cash levels will be in excess of �2m, another �1m . . . blah blah" As I have highlighted before these numbers are tiny compared to the �9m+ that the BOD raised in 2013, 2014 and 2015. What shareholder value was delivered from that huge amount of cash? Still waiting for an answer. Your silly sound bites aren't going to change the BOD here. They've had tons of cash before and, imo, expended it without delivering shareholder value. DesperadoRampster - "The divis from jupiter can cover our admin expences." You say this as if it's a good thing !!!! FFS the company spent �644K on admin expenses last year, for 4 directors and 1 admin employee. That's near �54,000 EVERY MONTH on admin. Where is the shareholder value there?! That the Jupiter payments had helped to cover this is nothing to celebrate. It's shareholder money that should be adding value instead of being p'eed away in expenses. What should happen is those expenses be ruthlessly culled. You're obviously in too deep here.
Matlot So a company valued at 5m mkt cap, will have £3m in bank by mid april. Still own 18m shares in jupiter valued at least 40c per share, hold 22% of steelmin which can be valued at 50m euros once in production. Dont forget the gold license being returned, has jorc resource of 1.2Moz. This alone can be valued at £10m. Cobalt deal? $87k per ton? So you havent seen nothing yet. PG is selling some of his shares in Uk, thats it perogative hes doing the same in stratex. One can speculate he needs cash... Currently the Net asset value is 3 times more than the current mkt cap. Next month NAV will likely increase again as a result of jupiter ipo and trading above 40c. Imho
Cgull You need to invest in ftse100 company, this company is setting a great base. Wait till migori gold project gets going and they sign the cobalt deal. They looking for partners ta take them in production.
And what will shareholders get?
Maybe the market will realise just how cheap the company is, Current cash levels will be in excess of £2m, another £1m will come from the jupiter ipo on 18th april. Jupiter ipo will be really important as that will be trading about 40c. Jupiter is offering to give 70% of their profits in dividends. 18M shares will retained in jms.. The divis from jupiter can cover our admin expences. Company has said should they take cobalt asset they will bring in partner.
panda1 - "Why is Peter Gyllenhammar sellling?" Doesn't really matter why imo. He IS selling, that's the salient point. A large investor, who had over 13% and we've now had 2 holding RNSs from him both reductions in his holding. With the Jupiter IPO soon to come it is extremely odd to be selling at this point unless all the ramping spiel is just Billy BS hot air ! I remember the Mayan ramp crew (some of which post here) trying to play it down when one of Mayan's largest investors sold down. All the usual excuses followed, top slicing, needs the money blah blah. A few weeks later a devastating heavily discounted placing dropped. Never ignore large investors selling imo.
Probably well aware of warrants at 0.8p and wants to get out before some of those.
Probably only just twigged that he backed a lame horse......
from Aussie poster 'Rocket973'. He she posted: "Not meaning to downramp, however I cannot see a JMS share price of $1.00, that would value Tshipi at $4.5 billion, nobody would be foolish enough to pay that amount. Yes, 50 cents is a possibility and most likely still too high, many will concerned about the Mn ore price falling and JMS has nothing else of value. Unlike OMH which has the ferro alloy smelting businesses in Sarawak and China, plus Bootu Ck manganese ore mine, 800,000 tonnes pa. The JMS investment in Tshipi is only modest compared to the value of the huge OM Sarawak smelter, and when comparing a JMS valuation of $2.25 billion its definitely over the top. Frankly, I think the Mn miners are now getting greedy and it will be their undoing. Mn ore at US$7/dmtu is a damn good price, pushing it higher is foolish"
I'm sure Dan Sklan (or d_s_) can answer which gives him greatest joy in his heart from the Jupiter buyback payments. Is it when RRR get the Jupiter buyback payments and he doesn't get a penny from it? or is it when he is a direct Jupiter shareholder and when Jupiter pay out buyback payments he receives all that buyback money himself?
Maybe Peter doesn't get joy in his heart that RRR receive buyback money from Jupiter and then RRR don't pass that money on to RRR shareholders? So maybe Peter is selling up in RRR and then when Jupiter relist he'll buy into Jupiter and then if Jupiter give out any buyback or dividend money to Jupiter shareholders in the future then he (Peter) will directly receive that money?
Strange timing but each to their own. Surely waiting a month would have been better.
plan is to sell half his shares
he purchased alot cheaper probably top slicing.
Why is Peter Gyllenhammar sellling?
Seingred Ok, not long for the IPO we shall see. JMS will be trading above 40c on ipo day... Steelmin will also be in production by then
Wholeheartedly agree Seingred. DS previously had a holding here in excess of 10% but saw it diluted to oblivion along with many others. He has far more respect and knowledge here than the feckless rampers desperately trying to pump any angle they can for their own ends whilst continually trying to brush all the coming dilution under the carpet.. Throughout 2017 Jupiter shares were available to buy privately on a certain website and that website stated that they were on sale at $0.35. There were clearly no takers as that offer sat open for months on end on that website. It has only recently now been removed/closed. That fact doesn't lend itself to the notion that the markets value JMS shares at 40c imo. It was equally very telling that the numerous rampers here telling us how many �millions Jupiter is worth, didn't snap up those private Jupiter shares instantly. Whilst an IPO means the JMS shares can be traded, the problem imo is that AB is highly unlikely to ever sell them as they represent the "crown jewels" here. They have for some time been the asset that underpins the MCAP. My opinion here is based on the readily gleaned history of how JMS shares were previously managed by this BOD. There were over 74m shares back then and if they had all been sold at a high price they would have been worth �25m to �30m. Unfortunately for shareholders AB was obviously reluctant to sell them, a possible factor being that AB has a seat on the board of Jupiter. This is how the JMS shares back then were managed: 5m were sold at the high price of 55c a share 14m were sold at 11c a share 40.5m were sold at 7c a share A pretty disastrous result for shareholders imo. There is nothing that has changed here that would lead me to believe that AB would act any differently. He will always, imo, favour issuing more shares to raise cash from thin air rather than sell those Jupiter shares. Hence whatever value people perceive the shares have is entirely notional imo. There will always be dilution here imo until and unless decent recurring revenue streams are established that exceed the ongoing running costs as DS rightly describes.
To listen to a significant holder of jms and formerly of rrr before dilution,than ill informed faceless rampers.cheers ds.bet you wish you had just bought jms shares and given rrr the body swerve.which is what all the rampers here should do.that way any windfalls from jms are greatfully recieved instead of watching mcchubb use it up. Time will tell with steelmin,but forcasts for el limon production and the pittiful ensueing production should make people wary of any predictions.Also of course the pathetic situation over at rgm with the coal that should have been produced by now.nothing is a given here.
Well Jupiter will ipo next month we will see where it goes. You should be happy with your JMS holding considering they were low 7c when they were delisted. Tidy profit
More for you to say is made up! https://twitter.com/armcmb/status/976033759479902208?s=19
Not quite sure how it is a positive RNS. RRR has received �1,128,523 in 12 months from Jupiter. Will share holders see any of this? Nope. It will all disappear paying "ongoing operating costs" Jupiter share price - think it will rise slightly. Within the next two years dont see it exceeding $0.70 USD. This opinion is as of a shareholder of Jupiter holding just under 2m shares.
Great RNS. Lays out timescales for the JMS IPO and how much that means to Red Rock. Problem for the bears is that as time goes by their case diminishes: Directors have skin in the game, commodity prices rebounding and bull super cycle under way, Jupiter floating means Red Rock's holding can be traded and a meaningful valuation can be put on it, cash coming in from a number of sources, Steelmin coming online in the next couple of months etc. etc. Prospects look better than they have ever been.
RNS. So we know that when the IPO happens on 18th april, red rock will recieve £1m or thereabouts from the sale of 20% of the jupiter holding. It will retain 18, 524, 914 shares at aud 0.40 which equals £4m or so. The market will define it goes from there. Mr magic unsuprisingly thinks the jupiter price will tank, based on nothing other than total negativity on everything. I think the opposite, bearing in mind jupitet have committed to pay out 70% of profits as a dividend.
Exactly. Steelmin will be valued on a multiple of the earnings it is able to make once fully operational.