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.
If steelmin don't pay by 21st Feb I will eat my hat...
Steelmin will pay us back before 21st Feb, the two furnaces are secured against loan, should they not pay by 21st feb we get additional 5% penalty.. I'm not worried about the loan we took out to fund steelmin, we took $4.2m and have 2.8 remain, we have that secured with our Jupiter shares. Can easily liquidate next month to pay them off should steelmin not pay on time..
I have seen companies with ebitda c. 15m with mkt cap 75m. First furnace will generate ebitda of 10m per annum and the other will add 4m.. Mkt cap can easily be 75m for steelmin should they list on mkt, can easily sell business with first furnace running for 50m... IMHO
I bought some last week. What others do at this stage is of no concern to me. I have one user name here and one only like I have had for several years.
Graphite - so why no buying over the week here in numbers? Keep spinning but down again last week and the market can see what a pup this is. If this was such a bargain then why is there zero interest? Facts not fiction is always best, but maybe your alter ego will support you okay :-)
What a boring person you must be, always living in the past, life's for living, move on.
Maestro - "Steelmin will be very close to production now" RNS just published (18th Jan) stated: "Steelmin forecasts first production following completion of the refurbishment of the ferrosilicon smelter complex in Jajce, Bosnia in March 2018" So anywhere from 4-8 weeks away but only IF their forecasts are on the money
Magic McDonald’s I believe pays 10% extra on a Saturday. Maybe if you worked there you could get a bit more of that £9000 you lost back. Reckon 12 hours today would get you back over £90. Go on get a job and make some of that money back rather than crying here all day. Soft lad.
Maestro - "Jupiter mines delisted 3 years ago at price of 8.1c, now it plans to list at aus$0.44c . That's a 5 fold on our investment." A brief review of the various JMS share transactions is probably in order I think. Jupiter delisted on 10th Jan 2014 RRR previously had 74m JMS shares worth a great deal of money On 30th Mar 2011 - RRR sold 5m shares for a gross consideration of AUD 2,750,000 (55c a share) On 17th Oct 2012 - RRR sold 14m JMS shares (18.8% of the holding) for gross proceeds of AUD 1,540,000 (11c a share) On 5th July 2013 - RRR sold 40.5m JMS shares (67.3% of the holding) for gross proceeds of AUD 2,836,852 (7c per share) On 14th Jan 2014 - RRR Bought 7,650,000 shares for a cost of AUD 428,400 (5.6c per share) It is unclear which specific "investment" Maestro refers to in his post. Perhaps it is those final 7,650,000 shares bought at 5.6c per share. For me the point is moot because as can be clearly seen, RRR previously held 74m JMS shares and sold only 5m of those for the excellent price of 55c per share. Unfortunately AB then sat by whilst the JMS SP tanked, then sold another 14m shares for 11c and then sold a massive 40m of them for the obliterated price of 7c a share. People might like to work out how much 74m shares were worth when the JMS SP was 55c. Maybe it's me but I always thought the idea of an "Investment" was to buy low - sell high rather than buy high, watch the value drop to nothing and then sell ! So, 54m valuable JMS shares were sold for a pittance but hey, 7,650,000 of the 27.3m shares that RRR now own were bought at 5.6c and are worth considerably more now. Yep well done ! (as always check all figures in case of error)
And Shares don't go up in straight lines. You have to admit, Jupiter is fine investment.. Steelmin investment will also be...
Maestro - ever get the feeling that you are singing to any empty room Down again today,but have a nice weekend Once Bell and ****z goes then this will re-rate. Leopard/spots comes to mind !
Sorry title should read aus$0.081c
Steelmin will be very close to production now, new funded has been arranged, next week or week after we should see our loan returned. They have to pay by 21st Feb else there is another 5% additional penalty.. I don't think they want that...
Jupiter mines delisted 3 years ago at price of 8.1c, now it plans to list at aus$0.44c . That's a 5 fold on our investment. Once relisted I'm sure it will trade higher than 44c, it will be perfect opportunity to sell 25% of our shares in Jupiter as planned.
"their assets they are surely worth more than the mkt cap." This is very old hat. A "sum of the assets" valuation has never (afaik) been appropriate here because of the dilution and because of the ways in which cash is expended. If you are going to do valuations of MCAP then, if you are going to be honest and genuine you MUST factor in the 500m shares which the company has asked for authority to issue this year. After all, MCAP = No Of shares * SP, so the number of shares is paramount. "Once the loan repayed", "imagine" . . . . Just speculative hopes and dreams until they happen. There is significant risk imo if Steelmin don't repay their debt to RRR or if they elect to kick the can down the road and extend the loan by 8 months. The company is valued as ever at the value of the Jupiter shares, little more and even that valuation imo seems to get given a discount due to it just being AB and RRR. We have seen from the total lack of trades and volume that the markets don't appear to buy the "wait till early Feb" line of the last RNS. Things have slipped, both the target for repayment and the target for production. The facts don't lie. The markets react accordingly imo.
Colin Past is past, many aim companies have messed up. Rrr is not different, if you look at their assets they are surely worth more than the mkt cap. It's undervalued, yes you may not see 10p for awhile 3-5p short within this year is possible. Once the loan repayed shortly things will fall into place. Imagine if we get shock rns saying migori gold licenses sorted sp will respond. Certainly valued more than 4.8m..
Give it a rest GT. We all realise that you are a brilliant investor but we've heard it all before over the years." The past is past, look at our assets, it'll all be OK this time." What has RRR achieved apart from purchasing shares in Jupiter? (And I believe that was down to Ken Masters rather than AB.)
Ludeck, I just think it gives balance, the losers who lost here years ago and hang around to create bad sentiment in order to validate their sell are in the majority. Myself if I have bad trade (rare event I may add) I dust myself down and move on rather than waste my energies telling others my opinion. So I will keep 'attacking' these trolls and exposing them to anyone looking in what they are about.
If you weren't so concerned that certain other posters' are quite insightful and accurate in the observations they make about this share, you'd spend less time trying to attack them methinks.
Now a Negative guy, Tragic Mr Magic. That was an interesting read Helpful on the Mining Supercycle.
https://www.davidwolfe.com/12-traits-negative-people-avoid/ Wow can see you all in those points, what a sad life you fellas must exist. Naughty Mr Bell stole all our money.........
Hey Trolls something else to get excited about and say AB has made up. http://www.mining.com/goldman-says-mining-supercycle-back/
Early Feb 1st-10th, mid Feb 11th-20th, end Feb 21st-28th.. Fund drawdown should be completed very soon, maybe when money returned they will shut up..
Torp, if you had spent all day working at McDonalds rather than deramping this you could have made �77.56 back of that �9000 you lost on RRR. What a mug
Indeed. Even with yesterday's 5% drop these shameless rampers, desperately trying to convince people this is way undervalued, were simply not buying. Nuff said really. Clearly just bottom feeders either with warrants or looking to participate in the next round of confetti imo.