Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Weren't the RNSs along the lines of the licenses had expired Bell himself said forget about it, think of the project as being in an oubliette so yes, pretty much oblivion
Greenland is a mirage in my opinion and subject of huge speculation. Why would anyone spend millions and millions of pounds providing the necessary infrastructure when you can mine in Australia and South Africa for a fraction of the cost ? Won't happen in my lifetime I am certain.
Well there were RNSes about it last year, so hardly oblivion?
anything of Greenland ??? This was supposed to be a game changer, seems to have vanished into oblivion
Wonder if the golf clubs went with him?
At the moment, AB in Kenya...............Twitter quote .............."Today! "Good meetings today in Nairobi, first with Cabinet Secretary for Mining Hon Dan Kazungu, and later with Migori Governor Okoth Obado JMS news.............Mn up again, good for 1ST QTR. IPO https://twitter.com/AndrewBRRR/with_replies?lang=en
Elephant Oil anybody?
Must not forget the investment in ascot either.
Lol.forget rgm,do you remember the pittiful attempt at running a gold mine in colombia.hopeless attempt at ramping up production to stated projections.woeful lack of production updates while losing circa 500 usd per ounce while gold was at its historic high.if not best to go through the relevant rns.makes grim reading.
http://pararesourcesinc.com/para-announces-update-production-el-limon-mine/
No I don't remember because I was never an investor in RGM and I doubt that I will be. I have looked at it and it is not for me. Investors have to take responsibility for their own decisions. I have only ever made money on RRR and will again this time around. It will either be a decent amount, a lot or seriously disgustingly large amount depending on how the cards fall and how long I hold on for. Steelmin is not an Andrew Bell or RRR company, he has little or no involvement. The Steelmin team are responsible for bringing the plant online not AB or RRR. One of the directors of Steelmin used to be a director of the EBRD. When Steelmin repays the loan, it frees up RRR from making the stage payments on the YHA loan and gives RRR free cash that it can use to fund the early stages of the DRC deal (assuming it goes ahead). As you say, we will see but there are a number of stages on the Steelmin deal that are value inflection points: A date for completion of the reassembly Completion of the reassembly Sign off for the contractors that the plant is accepted as contracted (there will probably be some debugging) Sign off from H&S Start of production Announcement of offtake contracts Signed offer and terms sheet for the refinance Completion and drawdown of the refinance It won't be that one day every is not done and the next day everything is done. DRC looks to be a monster deal if AB can pull it off: Steelmin means he can keep more of the deal for RRR. DYOR
Of course I noticed this is the RRR board, but there is a common denominator that makes me question start up dates. (Do you remember the installation of the high waller at Rosa Mine?) We will see in due course if production actually starts in February.
You may not have noticed but this is the RRR BB not the RGM BB. Regardless Steelmin should be close to finishing the reassembly of the plant. The cooling system was one of the long lead items that they needed and they were on with that last week. So the completion of the reassembly will be in sight. After that is done, they will need to test each of the subsystems and have them signed off as safe. The operational team will need to get their training double checked and go through the various Standard Operation Procedures so that they can get signed off as competent. Once they have the systems and staff signed off from H&S then they can start running their start up routines etc. They should be ready to try a proper start up sometime in early February (IMHO). I used to be a Chemical Plant Process Operator a long time ago and have taken part in the safe start ups and shut downs of large plant systems; you don't just press a start button and hope it works out. A start up might take a few days depending on the systems involved. One plant used to use Kerosene as the coolant under pressure at a couple of hundred degrees Centigrade. Anyway, bottom line is, they are close but not quite there yet. The finance from RRR/YHA is costing them an arm and a leg at 13% pa plus 1% of the equity per month. Steelmin will want to pay that loan or part of the loan back asap. I expect that they would sort out a facility with conditions precedent so that it is lined up to draw down as and when the conditions are met. Once that facility is in place, it becomes a box ticking exercise. RRR should net back around �2mil ish from repaying the loan to YHA and end up with 20% of Steelmin. The Steelmin Business Plan from January 2017 was talking about an EBITDA of Euro 7.5mil. With current prices, I would expect that to be closer to 10mil. The key will be an offtake contract; if Steelmin have lined up a 100% offtake contract on pre-agree prices then the plant becomes a license to print money. You try working out what 20% of Steelmin is worth on EBITDA of Euro 10mil and a multiple of 13: it is not zero. IMHO DYOR PS Speak back end of next week re this subject matter.
Where have I heard similar claims? Oh, I remember over on RGM. Something to do with coal.
We should be hearing soon!! Fingers crossed.
There are lots of warrants and convertible loan notes at 0.8p which could mean significant resistance as holders sell shares
Would this sum be greater than their current liablities cf?
"Story overnight out in OZ backstopping our research on Red Rock Resources and anticipated value of Jupiter Mines. Imputed value circa �5m to RRR - more than current market cap. BUY" https://twitter.com/AlignResearch/status/950756405031694336
Jupiter Mines appoints 3 brokers to sort out a $1bn listing: $750mil pre-money and $150mil fund raise. So that is $9mil to RRR. Australian Financial Review Street Talk section 09/01/2018
First off, did he sell them off at a sensible price even when they were listed? As good as cash? Nonsense. Bell is the practically the only director on aim who can decimate a companys sp while having the largest cash balance in the company's recent history (rgm) An illiquid investment that bell can't sell is funnily enough rrr's strongest asset! Of course he continues as a ned. 4 junkets and 50k a year average. Only a mad man would give that up.
News on Steelmin's re-financing and repayment plan for RRR's loan is the news I would really like to see, followed by production news. This will de-risk RRR's position and must surely add perceived value in terms of an asset on RRR's books, however, until we get some figures and eventually sight of Steelmin's accounts, it will be difficult to establish the true value for this we'll need revenue, cost, pricing, profit and financing figures at least to make real sense of the value to RRR. The first clue will be any dividend received from Steelmin after production starts. At least the cooling towers going on provide some tangible evidence that the programme is moving forward.
Mr Magic, three points really: Bell can't sell the shares at a sensible value until they are relisted, at which point they become as good as cash. RRR may have to give up part of its holding when the Jupiter shares are relisted. Once Jupiter relists - does Bell need to continue as a non-executive at Jupiter, he might like to personally but is it in the best interests of RRR to have Bell traipsing out to Australia periodically. I see his role at the moment as encouraging the relisting of Jupiter or in the interim decent dividends to improve RRR's cash flow and liquidity of assets, so that market can appreciate RRR's underlying value which should support a higher share price..
About time! Cooling towers being installed today..........https://twitter.com/AndrewBRRR?lang=en