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strange how the newbies get so irate when Magic states the facts Unfortunately they live of speculation and the market is wise to the antics of Bell If this was such a bargain then where are the floods of buys ???
This obsession is not doing you any good old bean. Get the blood pressure checked.
Dear oh dear. The shameless rampers have had their @sses handed to them on a plate and are clearly smarting. Personal jibes, playign the man not the ball, always a sign of weakness. Steelmin haven't paid back the money. FACT. Forecast for doing that has no slipped from end Jan to early Feb. I predict still that they will extend the loan for 8 months leaving RRR to foot its own colossal debt with YA. Steelmin still have no productio. FACT Forecast for starting production now slipped from Jan 2018 to Mar 2018. I guess you have to have some sympathy for the boiler room squad . . . they came, they tried, they ramped . . . they failed miserably
Colin it’s not excessive ramping. A few posts pointing out the positive and a few pointing out what a bunch if saddos you lot are.
They all have maestro. We have all lost money. Some more than others (magic and crew) But we move on.
we have all been there, eventually we move on, but this guy has been here for ages deramping rrr...
Google ‘grieving a financial loss’ Most of the trolls on here are suffering from financial loss grief. You can feel sorry for this type but the effort they spend here could be used productively. Hence I don’t feel sorry for them. Kind of pity them really. Poor old magic. Not a pot to **** in at his stage in life. Such a shame. Naughty Mr Bell stole it from him. Naughty Mr Bell.
Further to the announcement of 18 January 2018, Steelmin Limited ("Steelmin") advises that it hopes for fund drawdown under its new Structuring and Placing Agreement with a Luxembourg investment vehicle early in February 2018. Following drawdown, Red Rock would be repaid all amounts outstanding from Steelmin.
Steelmin intends to produce 29000t of ferrosilicon from the reconditioned furnace per annum, 1 ton of ferrosilicon can be sold for $1550, so do the maths, this will be in production in mid march.. RRR got 22% of this company, fantastic deal..
graphitetech i cannot understand these two blokes, they cant be short on this stock i dont know why they on here daily deramping it. Steelmin, imho is great asset , till jan 2017 they spent 11m euros on the assets, they needed additional capital to complete the reconditioning of the furnace, along came RRR and happily lent 4.4m euros. Steelmin company is certainly worth more than $4.4m, i think once its in production doesnt matter what capacity it starts at i believe the company will be worth in excess of 40m euros. Current mkt cap of rrr is just too low... The current loan they have from us is really expensive, this is why they have negotiated a new one.
Yes magic it’s hillarious. Folk often throw €11m at something just to see some pretty blue steel buildings in a picturesque part of Bosnia. Guess it will make a great chicken shed Wish I could think like you. So astute.
Funnily enough though, about half the world's Cobalt comes from DRC. The assets in that country are stunning which is why people make the effort - despite the additional challenges. That being said, if someone finds a big Cobalt deposit in sunny Surrey (great infrastructure etc) there's still several log orders more chance of it being dug up on DRC than Surrey. And a tailings project removes exploration risk and time to cashflow. A good strategy for a company like RRR. However investors are uneasy about the DRC - which gives an opportunity if rrr pull it off. Cash is cash is cash, at the end of the day.
No announcement but has Steelmin already got offtake agreements in place?
Glad we are entertaining you mr magic. Ill get my entertainment when the loan is repaid, when jupiter IPOs and the valuation of my shareholding rerates.
Oh my aching sides ! Stop it please ! They aren't even producing and production expectations have slipped from Jan to March. Come March we'll likely get another RNS with another new target imo. When they eventually start producing (if they do) then we'll be sat like mushrooms for months waiting for some firm production figures just like Shoats Creek where it all went suspiciously quiet until they eventually published the (by then very obvious) bad news. Markets are clearly not buying into your ramping nonsense. 5% down today and will imo drift further when the next load of confetti is issued. Plus those 21m warrants @ 0.66p likely to be cashed in before end April.
Sarcasm thoroughly appreciated. Based on your extensive knowledge of Africa I guess. Good luck with the extensive ramping.
Kind of guessed you fellas would think it was in the wrong country. You are right. Africa’s a scary place. Better we look for 30000tn of Cobalt at soon to be $80000 tn in some other place. Glad we have you onboard for the guidance.
We all know the price of cobalt is on the rise and will continue to do so, but the Congo is one of the most dangerous countries on the planet. The locals will know the value of the tailings and will want the cobalt for themselves. We found ourselves in the same position with the Migori gold tailings and look what's happened there.
Yep push out to 16/17m euro per annum ebitda Likely go on the acquisition trail then.
Yes. £3m a year gross profit * 10 would put a valuation in that ballpark. Of course the second furnace in production later this year will add more value still.
Six months down the line a Frankfurt or London listing and a £30m+ mcap would be very possible.
Exactly what i was trying to explain You cant walk into your local HSBC and walk out with £4m unsecured..... You need a partner that undertands what you are going to be producing and who knows the future value of it. Hence the RRR loan. I would hope steelmin will get listed themselves at some point to crystallise a lot of value for themselves and RRR
Love to see the faces of some here when the DRC cobalt deal lands. Expect they will look like a bulldog licking ****s off a nettle. http://www.mining.com/bidders-500m-canada-streaming-deal-cobalt-price-surges-report/
For the numpties it’s kind of like using expensive bridging finance to fund what was at the start a speculative venture that tier 1/2 lenders would not touch. RRR lumped in and have secured what looks to be 22% of a very impressive facility. Forecast EBITDA over 10 million Euro.
Wrong. Mainstream lenders wont lend on an under refurbishment plant in the middle of Bosnia thats 9 months away from being finished. Steelmin have only the one asset and nothing to offer as security should they not get the plant working. In steps RRR to provide the, almost, final dollar to get the plant operational. Now the refurbishment is 99% complete steelmin can now refinance with lower cost finance as there is a valuable asset, the plant, to lend against. Really not too hard to understand.