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http://www.steelmin.com/ Just for pure amusement value, what price do all you trolls/AB haters put on Steelmin????
If Steelmin were worth anything significant then they would have been able to easily secure finance from a mainstream lender wouldn't they? Instead they had to borrow money from RRR, not a lender and not a company that had money to lend and who in turn had to go borrow money from YA to then loan it to Steelmin. What part of that entire situation doesn't sound utterly ludicrous to you?! In effect here all that has happened is that RRR has raised a load of cash via the issuing of lots of CLNs with warrants (same old same old) and later down the line they may hopefully get the cash back from Steelmin. As always the BOD are in clover and the lowly shareholders suffer the confetti.
MrMagic The cobalt asset will be crown jewel... You really need to look at the steelmin asset, its worth something...
The MCAP is essentially the value of the Jupiter holding less value knocked off imo for the ways in which the markets perceive money is expended by this BOD. The Jupiter shares being the "crown jewels" are extremely unlikely to be sold imo. The Steelmin situation isn't imo looking great at this point with both loan repayment targets and production start targets both having slipped. I find it hard to believe Steelmin won't just extend the loan by another 8 months which, if I am right, will mean RRR has to find cash to keep paying down the YA loan.
Magic I could understand if the mkt cap was 15m and steelmin hadn't paid, but mkt cap is less than 5m. Commodity prices have increased and the value of company will increase. Steelmin will pay up next month.. IMHO...
Magic I don't hold £140K worth of shares, I was responding to the warrants you were alluding too, its only paltry sum of around £140K..
I presume he's bought in the last few weeks/months around the 1p level. I was merely using it for an example to state he may well not be above 3% which you suggested. Why am I wasting my time replying to a fool whose lost all his money and now does not have a pot to **** in?
Can't say I've seen �140k's worth of trades in the past month or so at the 1p level. That would surely have pushed the SP up. How is it you know what holding and average Maestro has?
investing �140,000 here. Even if Steelmin do repay RRR back then it is vitally important for shareholders that they repay RRR back in one payment. Long termers know that when RRR get drip drip payments it does nothing for the RRR share price. So in my opinion it is of the upmost importance that Steelmin repay RRR back in one big payment otherwise I fear the RRR share price will not respond to Steelmin repaying RRR back in installments.
Not very clever are you, �140,000 shares at an average of 1p is approx 2.8% so no TR1 needed for Maestro. He may even have a lower average. An average at a level you could only dream of. How much is your loss here again, a paltry �9k I heard. Life's work over �9k to deramp here for every more. Saddo....
no need for abuse although "bum chums" could be deemed as homophobic!!
maestro - "�140K worth of shares" of course you have lols Where's your TR1 then as thatmuch investment would be over a 3% holding ?
Magic and his bum-chums will soon find a new hobby when this moves into the 3-5p range. Not going to be long now. Wait for the onslaught of abuse.....
Magic £140K worth of shares, if you buy at these levels one will not worry, if you purchased 10p then you should.. I thing this has value.. Not gonna happen overnight but certainly within next 3 months..
21,315,971 warrants exercisable at 0.66 pence - expire 28.04.2018 Only 3 months left for these warrants. Surely they will be cashed in soon?
Still not seeing any buys from you Maestro. What gives?
You're a phoney says the man whose had about 10 different aliases in about as many years.
For that matter, why didn't Steelmin just go direct to Yorkville to borrow the money instead of borrowing from RRR who then in turn had to borrow off Yorkville? Why couldn't they borrow off other mainstream lenders?
"Steelmin furnaces use to be in production prior to Bosnian war" Yep and El Limon had been producing for many years before RRR got hold of it. Where is it now?! "The first furnace is expected to be in production in March" When you can make a sentence without the words "hoped", "expected", "anticipated" then come back to us. The "jam tomorrow" approach doesn't work here, only real actuals count. Right now, no production. "it can get extended to another 8 months" I'm will to bet that it will get extended. I always assumed it would right back in June when the deal was announced. "The loan we gave them is secured against the furnaces" What good are furnaces to shareholders here? Is RRR a Steel producer? They would be illiquid assets, of little use. Who would buy them from us? "We can pay our lenders by Jupiter shares we own..." lol and you think that's a good thing?!! The "crown jewels" being pawned off to pay down debt with Yorkville?! You are deluded. Shareholders would throw the towel in at that point imo. The Jupiter shares are the only tangible asset keeping punters here imo. "admin cost of 600K that is yearly cost not monthly" It was �686k which equates to �57k per month. A staggering amount of paper clips for a team of 4 execs and 1 admin person !!! That annual figure puts the Jupiter buy-back of �364k into clear perspective. "RRR still expect steelmin to pay in early Feb, so it's not long.." Again the work "expected". Head in the sand. Believe what you will. Tell me, if Steelmin can so readily get finance via this Luxembourg Investment Vehicle then why did they come to RRR for money when RRR had no such money to lend? Doesn't add up to my mind.
Magic I am not one bit bitter, very much unlike your goodself. This is moving to plan nicely. Steelmin is almost ready for production and a few days here or there matter little to me. Difference between me and you is I bought this at the right time you didn't. Should not mock other losses but with the attitude to life you hold you deserve nothing less. Keep up the trolling.
Still bashing this share. Wow. Get a life pal. I'll never forget you getting sore ears the day of a conference call. Your a Phoney.
OK, magic have your day.. Steelmin furnaces use to be in production prior to Bosnian war, they were sold on and are currently being reconditioned to be put back into production. The first furnace is expected to be in production in March, with sales of over Eur$40m and ebitda$10m, commodity prices have increased.22% of that is surely over 10m.... Nothing sinister has happened, both parties know the terms and it can get extended to another 8 months, every month they don't pay us we get another 1% of company. The loan we gave them is secured against the furnaces. We can pay our lenders by Jupiter shares we own... Mr Magic start bringing in admin cost of 600K that is yearly cost not monthly.. RRR still expect steelmin to pay in early Feb, so it's not long.. Have your fun magic, I still don't know why you so sad...
SP is 5% down. You'd think Maestro would be lapping up the shares given how undervalued he keeps saying the share is. Yet there's nothing. Go figure. Maybe he's busy buying up all the private Jupiter shares lol
You sound like a bitter trader who's frustrated at his abject failure to spin fairy stories to the mugpunters. How are those warrants doing?! It's 7 months since the Steelmin "deal" was announced and they still haven't repaid the money to RRR. EUR 3.8m borrowed from RRR. EUR 3m borrowed from other funders. No production. Targets slipping all around. 3 tranches of CLNs with warrants already under the belt to pay down the huge loan with YA ($2.8m outstanding still). How much more confetti to come?
graphite - IGNORE HISTORY AT YOU PERIL !