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STEELMIN Limited - Initial FeSi Production Targeted for Q1 2018 and finance agreement FerroSiliconHttps://www.**********.co.uk/rns/announcement/26102011/?source=twitter Steelmin Loan - Red Rock is borrowing $4,230,750 from a group of Investors in a 12 month secured promissory note ( Loan note to Steelmin is �3,874,560 ). 20/09/2017 - Red Rock has now made its first repayment of $507,156 to the Investors. **** 18/01/2018 - Red Rock Resources Plc, on 23 June and 3 July 2017, Steelmin Limited, a company Red Rock financed so that it could complete the refurbishment and recommissioning of a ferro-silicon smelter in Jajce, Bosnia, has signed a Structuring and Placing Agreement with a Luxembourg investment vehicle under which Steelmin intends to repay in full the loan amounts outstanding to Red Rock. The Agreement provides for a new Steelmin note to be placed with investing funds on a best efforts basis with a target issuance date of end January 2018. The Note proceeds would be used primarily for repayment in full of the Red Rock Loan, with some used for plant completion. **** Following Loan repayment Red Rock would be left with a diluted 21% of the share capital of Steelmin, which would increase to 22% on 1 February 2018 should the Loan not be repaid by that time. **** On the basis that the Agreement, which is subject to some rights of withdrawal by the lender, completes, and on the basis of current exchange rates, we would be left with a net positive balance of some GB�1.8m on the back to back facility after repayment of all amounts due to and from Red Rock. We would also have a 21-22% shareholding in Steelmin. Seven months after the initial investment by us in Steelmin, this would be a positive outcome. https://uk.advfn.com/stock-market/london/red-rock-RRR/share-news/Red-Rock-Resources-plc-Update-on-Steelmin/76497070 Https://polaris.brighterir.com/public/red_rock_resources/news/rns/story/xzoyo7r Website Http://www.steelmin.com
Jupiter Mines Limited - Iron Ore 03/01/2008 High Grade Iron Ore at Mount Mason - Https://www.youtube.com/watch?v=A745fdur93c Grades in 2008 from 60%Fe to 63.84%Fe - Measured and Indicated - 5.9 million tonnes at 60.1% Iron Ore interest at Mount IDA Progress at both of Jupiter�s Western Australia projects was slowed by low iron ore prices. Mt Ida, in which Red Rock retains a 0.75% production royalty, has a JORC Inferred Mineral Resource Estimate of 1.85bn tonnes at 29.48% Fe. This and the Direct Shipping Ore project at Mt. Mason are on care and maintenance. Https://www.rrrplc.com/projects-and-investments/steel-feed/jupiter-mines/ **** Mount IDA and Mount Mason: The favourable iron ore price and exchange rates means a review of these projects is warranted. Iron ore exporters at Western Australian ports are running low on ore. Mt Mason and Mt Ida can provide immediate production and long term resources."
JUPITER MINES Limited - RED ROCK RESOURCES PLC holds 24.6 million shares (1.19%) and a 0.75% royalty over all iron ore produced at Jupiter's Mount Ida prospect in Western Australia:Company website: Jupiter Mining - index - Http://www.jupitermines.com/ Jupiter Mines at ADVFN: https://uk.advfn.com/cmn/fbb/thread.php3?id=28201926 Jupiter hold a 49.9% interest in Tshipi � NTLE. The Kalahari Manganese Basin is estimated to contain approximately 80% of the world�s known economic manganese reserves; Tshipi � Ntl - Http://www.tshipi.co.za/ Pallinghurst Co-Investors have an 86% interest in Jupiter Mines Limited JMS Pallinghurst Resources - Http://www.pallinghurst.com/ Pallinghurst Co-Investors - Http://www.pallinghurst.com/pallinghurst-co-investors Manganese Ore Index: Http://www.jupitermines.com/projects/tshipi/manganese_ore_index.phtml Http://www.jupitermines.com/images/jupiter---eigeagelei.png Recent News: 13/07/2017 Tshipi now the Largest Exporter of Manganese from South Africa - Http://www.jupitermines.com/images/jupiter---daequoomou.pdf 21/12/2017 Proposed ASX Listing - Http://www.jupitermines.com/images/jupiter---aizuangier.pdf **** Further to the announcements of 13 March 2017 and 16 November 2017, in which Red Rock announced payments of distributions by Jupiter Mines Ltd JMS, an Australian unlisted public company, of GB�537,131 and approximately GB�233,606 respectively, JMS has announced the details of a further planned US$42m distribution to shareholders, of which Red Rock's share at current exchange rates would be approximately AU$504,000 (GB�364,000). Payment is expected on 19 March 2018.
El Limon gold mine - ongoing disposal The operations were sold to Para Resources of Canada in 2015. Total consideration was US$5M with up to US$3M in gold royalty payments. As of January 2018 US$2.97m remains unpaid as well as a loan of US$750K plus interest due for repayment by 1st April 2018. The royalties are to be paid on gold production. Earned in 2017 RRR approximately - 253.1oz x US$1,270 an oz Au x 0.03 (3%) = US$9,700 (actual production): Http://pararesourcesinc.com/para-announces-update-production-el-limon-mine/ Earned in 2018 RRR approximately 6,250oz x US$1,250 an oz Au x 0.03 (3%) = US$227,000* Earned In 2019 RRR approximately 10,850oz x US$1,250 an oz Au x 0.03 (3%) = US$401,000* * Estimated by Red Rock in December 2017. Further royalties at 3% totalling US$2.35 million approx. are due from 2020 onwards. Payments are made quarterly in arrears. Para Resources Announces That Production at El Limon Has Recommenced on 15 November 2017 Http://pararesourcesinc.com/para-resources-announces-production-el-limon-recommenced/
Sorry Magic all I can suggest in reply like I mentioned earlier is to please ring nursey, tell her you are ranting against RRR and she may find you some Carbamazepine tablets. Good lad, don't worry she will be there soon.
i think GraphiteTech has got it right, quite a few purchased over 10p a share and are disappointed with the board. The value of Jupiter Mines has 4 folded as a result of commodity prices increasing, currently jupiter are buying back shares at 44c a share.. At 1p there is value, certainly 4p is achievable in 2018.
Roll on Wednesday then......
GT - "The list goes on" Sadly it's 99% a totally speculative list rather than actual, and that's why the SP is where It is, that's why the markets seldom value the company as a sum of its parts, imo. Steelmin ISN'T producing at this point so of little use and it owes Euro6.8m to RRR and other funders. RRR's target for production start has moved now from Jan to March. I'd happily put a pair of old underpants on standby and wager that come March production won't have started or if it does there won't be any decent production figures reported until months after. If I'm wrong I'll eat them. Like Shoats Creek I reckon the Steelmin project will drag on and on. The Jupiter shares will imo always be there as a core enticing asset. AB will not imo sell those shares, so their value, whilst real won't be realised as cash imo. Happy for you to believe otherwise but history tends to support my viewpoint here. Hand-out from Jupiter is circa �364k yep. Sadly the Admin and Exploration Expenses run at �686k per annum according to last Annual Report. El Limon royalties have been meaningless. Last reported ACTUAL quarterly figure was just over $5k which at that rate means it will take near 100 years to recoup just the first $2m of that $3m royalty. Not worth your time and effort trying to ramp TBH. Cobalt project would require a cash payment of $700,000 and �490,000 payable in RRR shares ("Shares") at 0.65 pence a share, with attached 5 for 3 three year warrants plus commitment by RRR to fund $1.2m of exploration expenditure over 18 months. That's dilution and a lot of cash required. And like all company apologists and rampers you conveniently neglect to highlight that RRR requested and was granted authority to issue up to 500m more shares here this year (as per last AGM resolutions). Smart approach would be to see if Steelmin actually do repay the loan and go from there.
Points you have not covered are; Significant directors buys in the market at and around this level. Significant stakes being taken by major investors who have an history of success. Stealmin progress in both the development of their plant and the likely return of cash from the loan next week with a significant net cash upside to RRR. 22% of Stealmin that is likely to produce e$7-10m EBITDA in the coming years. 24m Jupiter MInes shares which when the IPO completes will be worth liquid c�10m. Dividend coming from Jupiter. Royalties from El-Limon. Cobalt play in the DRC that is at advanced DD stage with the above cash influx likely to fund and develop. Meeting with Kenyan mines minister the other week. The list goes on. So no you haven't missed anything if you concentrate on the bile and hatred the 'ex-wives' club who frequent this board bang on about 24/7. Not bad for sub �5m mcap. I expect �20m in 2018 at least. Magic shove that somewhere the sun sun doesn't shine which I guess is everywhere you are......
50% of posters bought above 10p years ago and hate the company and want it to fail whilst dwelling on the past. 50% of posters can see the future and read RNSs of late that when you piece them together you can see a massive undervalue situation. Make your own choice and DYOR.
coffeecups - "looking at buying in for next week's news " Not sure what news you are hoping for but I'm personally under no allusions as to what "news" is likely to appear. RRR often states its hopes, anticipations and expectations but they seldom come about imo. For instance as recently as 20th Sept RRR made its first payment of the $4.4m YA loan saying: "We EXPECT significant dividend and royalty inflows in the remainder of calendar 2017 to enable us to continue paying down our loan after this first substantial payment" (my caps) I guess those dividends/royalties didn't make the cut because just a few weeks later we got . . . 10th Nov - RRR raises �495k via CLNs with warrants to pay down the loan (tranche 1) 12th Dec - RRR raises �215k via CLNs with warrants to pay down the loan (tranche 2) 14th Dec - RRR raises �290k via CLNs with warrants to pay down the loan (tranche 3) 21st Dec - RRR raises �125k via a placing of 15.6m shares with 1 for 2 warrants So much for expectations then ! Another example of hopes and expectations is the change in target dates for Steelmin production which I highlighted earlier: RNS 10th Nov stated that production was expected Jan 2018. RNS 18th Jan now states Steelmin forecasts first production in March 2018 Like I said, there's really only one kind of news I am expecting but happy for others to hold contrary view points.
OK so new to this stock..looking at buying in for next week's news .. from reading this board it appears to be a 50/50 recovery play. Ab is not generally liked or trusted .. previous poor record of generating profits..... Cash burn is high for running a small office and fat Directors and takes care of most of the income to date ? Fair assessment? Any new points I've missed not covered in the last 15 pages on here ?
Read the RNSs. What is the point of speculation if you haven't even got your head around the basic information in the RNSs.
It is all very well stating the likes of Magic have been right over the past few years, that is very true, mainly due to the commodity cycle and particular low values for base metals which in the main the company invested in. The schemes they invested in had also in the main been in the mining cycle that was in the lull prior to production. That being the case it was fairly easy to be right that the share price would be on a falling trajectory. However that is now not the case, the long lead investments that have been much derided are reaching a point of return/fruition yet the 'ex-wives club' who bemoan and troll this company do not want that to happen. They cannot stand it when the share price goes up and would prefer this company to fail than succeed. They will be saying the same thing over and over again at 2p, 3p and so on.
Had about 49 per cent of el limon.production figures were pitiful compared to projections.sold at a loss and still waiting for payment. Maybe steelmin will be different ,however history is not good.ref limon,ascot,shoats creek,rgm coal etc.beware counting chickens.jms buybacks also can only taken as single events.good as they are they will stop if jms becomes unprofitable.no guarantees beyond the next payment.but all in all a better situation than 2 or 3 years ago.no need for another consolidation lol.good luck all genuine punters,ignoring historic failures of a company is a catastrophic way to invest ,but recovery stocks do exist.maybe rrr is one .we will see but common sense is needed.
Mr magic If you read the rns of when the loan was agreed it stated production expected in q1 2018... I'm happy..
Am happy to see a rise here,and rrr may be turning a corner like thr have managed.However caution as regards forward statements is wise here.you only have to look at the coal fiasco at rgm to see nothing can be relied on until it is finalised with mr Bells companies.with magic regards jms,that is what supports the share price every time a shed load of new shares are released.rrr has a very poor record of selling projects and I find it hard to imagine if rrr were to go bust that a fire sale is likely to be an improvement.not that I am sugesting that scenario,just adressing a rather misleading scenario.lets see what happens ,but mr magic has been spot on the money in regards to rrr over many years ,posting in a derogatory way just shows an inability to debate valid points.there have been a procession of posters of a similar ilk over the last 5 years ,all a mile off the mark as it lost 99 per cent of its value and projects missed their projected results.all that were either banned or disapeared without trace.the more personal the posting the more suspicious I get.I have some cautious optimism here.it is a fact that the share price has stabilised and risen from historic lows.the explorer market does seem to be improving .
Maestro, what use is 22% or 30% of a company that isn't producing yet and that has debts of at least 6.8m? It would be a totally illiquid asset. Who would buy that share from us if Steelmin didn't manage any decent production? I'm not saying they won't get to production stage, only that currently they are not producing and the RRR slippage on this is imo telling. RNS 10th Nov stated that production was expected Jan 2018. RNS 18th Jan now states Steelmin forecasts first production in March 2018. Clearly all is not going to plan. What are the chances that March arrives and still no production? Like I said, with the history here, savvy investors will wait until production actually does start and when there are some actual production figures published by Steelmin/RRR. Until then I can personally only expect more share issues/CLNs.
Magic You need to read rns of 23rd June, the stealmin deal on top of repayment of loan we can receive up-to 30% of company, at the moment we have 21%. In that deal it said they can extend for another 8 months, we owe lenders £2m which is guaranteed by our Jupiter shares. The current furnace which is being reconditioned is expected to make ebitda $7m and once the smaller one in line it will be total of $10m.. You make it sound like company going bust, which isn't the case, this should be worth over 3p a share, as Jupiter shares have quadrupled... I think it maybe better for rrr that steelmin extends the loan agreement as this can increase our share in steelmin by upto 30%.
Magic please go and take your meds and sit down somewhere nice and quiet. Good man. That’s better.
Magic, each to their own, you have your opinion I have mine. I do see value here. The loan we have given out is secured against the steelmin asset, it was only given 7 months ago and there was option for steelmin to delay payment by another 8 months, I don't see the issue. Anyway next week we will know whether they will repay or extend loan. I'm sorry if you list in the past but current value looks cheap, it's not only to me...
maestro "lets say they go into admin now and sell their assets individually, we will get +150% gain" lol. What assets do you perceive there is a market for? Let's hear it, and also tell us how much cash you think they'd get for them. maestro "Its not the end of the world if steelmin dont repay loan" lol again! The deal was presented to shareholders as a simple back to back deal so no one could lose. What has actually happened? Steelmin haven't repaid their part but RRR have to repay their loan to YA and so have issued loads of shares and warrants, CLNs etc to raise the money to pay down that colossal YA loan. So ultimately shareholders lose again. The BOD get cash from the raisings and then also ultimately get cash from Steelmin if they do repay. Note that I don't share your rose tinted view of owning 22% of Steelmin. If Steelmin don't/can't repay their loan or if Steelmin production turns out to be useless (like say Shoats Creek's did imo) then what use is owning 22% of that company? How would you ever liquidate the value of that share? Steelmin took out near 7m of debt with RRR and others for this production start up. That all has to be paid back somehow. Given the history of past deals here I'd consider myself foolish to speculate on what may or may not happen. The smart money imo will wait to see if Steelmin actually do repay their loan and if they actually do start production in March and wait to see what that production level looks like. Each to their own of course and always DYOR.
Well leave then you bunch of saddos. Move on let the shrewd who have been buying since 0.7 area reap the rewards and stop moaning about your poorly timed position that led to a loss. All of you lot have sold long since but still have a morbid fascination of this company. Let it go.
Mr Magic deramping and so desperate that company fails hes posting after midnight on a Friday night to the negative. In all my time in twenty years of investing and market participation I have never witnessed someone so obsessed with a company(individual) that Magic is. In the past I have argued with that type but I really do think Magic needs help and no one should engage, all you are doing are furthering his issues and feeding the instabilities that drive him to keep posting here. Treat him with the respect and kindness you would someone who you know or knew that had a learning difficulty or mental illness. I do not think it is fair anymore that other posters pick arguments with him or contest his points.
The problem is, any money that comes into this company seems to disappear. Where could it be going? Surely not into Bell�s back pocket? 9mill in dilution the last few years, where is it? Where�s the money from Jupiter gone so far? See above.... But more mugs keep coming along so what does he care? I see Cityfan has reappeared, when that idiot turns up you should all know it�s best to leave!