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maestro - " they will get 364K in share buy back from Jupiter so they have no issues" As per last Annual Report, RRR burns through �686k alone in Admin and Exploration expenses so that �364k isn't going far is it?! The huge $4.4m loan they took out with YA still needs to be paid down. According to the RNS 18th Jan there remains $2,865,004 of this debt outstanding including fees and accrued interest. That's approx. �2m in real money. So RRR need �2m for this loan plus the usual �686k odd for various expenses plus any other on-going project costs. RRR is due to receive �364k in mid-March from the Jupiter buy-back and circa �550k ($783k) on 1st April from the remainder of the Colombia sale promissory note. Whether Steelmin are able to complete their refinancing and/or whether they repay the money to RRR remains to be seen. My personal guess is (and always has been) that Steelmin will elect to extend their loan with RRR by a further 8 months. We can but wait to see what happens. Similarly we must wait to see if Jupiter does relist on the ASX and if so what happens to RRR's shareholding. I maintain my personal view that regardless, AB would not sell down the shares but would rather keep them as the "crown jewels". For me, their value is purely notional. I find it difficult therefore not to expect a shed load more CLNs/confetti issues in the short term.
Coffee cups Rrr, receives £500K per annum dividends from Jupiter, they will get 364K in share buy back from Jupiter so they have no issues. This one is cheap...
Helpful...thanks and what is the cotingency plan if they dont decide to use the loan to settle it but use or development funds ?
Read the Align Research report on their website, it gives a pretty detailed overview of RRR. Colin, I said, "it will be". I fully expect Steelmin to have repaid by COB Wednesday and if they don't it costs them another 1% of the equity and another month's interest at 13% pa. Unlike the Trolls on here who refuse to accept any evidence whatsoever that things might be on the up: I think the Steelmin team know what they are doing and will repay. Only a few days to go: what will the complaint be then? Probably, "oh they repaid us in Dollars and it will cost us to convert it to Sterling." Except RRR needs dollars to execute the DRC deal, so they don't need to convert it all. DYOR
Steelmin decide to use the funds on iV and roll over the RRR debt to 12/18 ? RRR need to refinance the loan it took to fund Steelmin. Steelmin are ok as get both v and iv running at full production with minimal interest costs to bear thereafter, and will get cheaper deal to refinance as more profitable. RRR get shafted till year end. Cos if I was Steelmin that is what I would do........... especially as finished product prices have increased so much ?
Steelmin is an excellent investment for us also, let's see. Rrr Certainly worth more than current value, over 2p...
You have to remember mkt cap 4.6m, our investment in Jupiter mines worth more than that, we have 25m shares. On top of that we get 500K in dividends every year..
'Helpful'. I personally wouldn't ask for his/her opinion when he/she is in a share because from my observations of he/she being in MYN he/she is always bullish even though the MYN share price is many hundreds of times smaller than it once was. So absolutely deadly to ask for his/her opinion on a share. So do your own research.
You've used the past tense,"managed" helpful. Have I missed the RNS that gave this information?
Helpful ... help me out ... RRR good investment worth researching or not ? Cheers.
It will be interesting to read how the Trolls explain how and why Steelmin has managed to repay RRR.
Steelmin are expected to repay our loan by next Wed, if they don't then they can extend for 8 months this means more interest in our repayments, don't forget we retain 22% of their company also...
Mr Magic, nothing to see here, same old, you state. So why come on then, I remember, you love playing Head tennis with yourself, you couldn't make it up.
lols Pinman, you said the same thing way back on 6th June. Nothing to see here though, just same old same old. Won't be long now till Steelmin is just so much old news and the next "new kid on the block" project/deal is announced.
Some on here are going to look like t/@ts when this gets going. But then again I guess they already know what they are ;)
posted I think i can spot Stanley Baxter and Benny hill. https://mobile.twitter.com/armcmb/media/grid?idx=0
Jupiter are currently doing a buyback at 44c per share, we have over 25m shares in jupiter mines. When this ipo's in March, it will have mkt cap over a billion, company has no debt and making money...
Colin They can extend payment by another eight months if they want.. Jupiter mines investment from rrr is juicy.. rerate will happen shortly...
Any time you want a wager on that just let me know. House, car etc. Bet whatever you want to lose. Until then, stop posting rubbish. And stop running to the aide of a troll..... unless of course, your sat in the same room as him. PS. Why are you still here? Youve been talking this share down for years. Why stay on the forum. Whats in it for you :)
Kaaba I don't think rrr will sell their stake for 44c per share, once Jupiter is admitted I believe it will surge further... current mkt cap of rrr is cheap, they are expected dividends by next Wed...
Let's wait and see if the loan is finalised before we get too excited.
Hows about reading the last RNS?
There is no way AB will flush the money down the toilet. He will justify to himself that the board needs a good pay rise and of course a substantial bonus and maybe some more free shares.
If AB gets his hands on �9M, you can be sure he'll flush it down the next toilet he finds rather than distrbute it to shareholders.