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I started investing in Red Rock years back and as i was researching, I could not understand why this MrMagic comes here all day and night to post negatively. I looked back into his posts from 2012-2013.: He is a guy in his 50's, who has no history of buying anything other than Red Rock He does not understand many investing basics and has no other experience He lost all of his money here. He averaged down at the worst possible time at the start of a huge bear market (lol) He is not very intelligent and posts are littered with mistakes and are misleading He tried to ramp red rock for 6 months, spamming many other boards around 2012 He now has 11,000 posts, had many more but that have been deleted. 99.9% of these posts are on companies that andrew bell has something to do with but mainly red rock and regency. He is one of the best examples of how to waste your life and be a total, bitter, blamey, loser. I suggest many of you start reporting his posts. He has written some things perhaps over 3000 times - I believe he copies and pastes a lot of the paragraphs in his posts.
Pound signs in last post were EURO symbols when posted. Site has changed them to �
Let's also not forget that Steelmin, aside from borrowing �3.8m from RRR, also borrowed �3m from Christof Industries and OeKb, Osterreicheische Kontrollbank AG, to complete funding required to bring furnace V back into production. I wonder if that group of funders are also wanting Steelmin to repay soon too. Equally one wonders what kind of deal this Luxembourg vehicle is going to want for lending Steelmin �3.8m+ to repay its debt to RRR. A big cut of the company or its profits maybe?
Let's be honest, I'm pretty sure people expected Steelmin to have refinanced and repaid RRR way before now, problem is they haven't. Let's be honest, most people probably thought the "back-to-back" loans with Steelmin and Yorkville were balanced and no-one could lose, yet months later we've already had 3 tranches of CLNs and placings to raise money, all with warrants attached and greatly increasing the share issue. If Steelmin do actually repay, will AB buy back all of those shares to redress the balance??? Can't see it myself. Let's be honest, RRR said they expected production to begin in Jan 2018. Now they are saying March 2018. We've had an RNS regarding a possible Steelmin refinancing deal using words like "intends to" and "best effort basis" and subject to certain conditions. I take absolutely nothing for granted here. Things clearly aren't going the way most people had hoped imo.
And if the Steelmin money comes back I guess you will find a new hobby and stop posting your banal meanderings here?
Cannot believe you just spent the time writing all that drivel.
maestro, not interested in your investing advice thanks. I'm immune to the shameless ramps and endless overhyping of the couldbe's, mightbe's, shouldbe's here. Experience tells me that nothing can be taken for granted here and with the constant threat of dilution ever hanging over proceedings I would not be surprised if many find that there are better AIM stocks to go at. "Jupiter has been buying back shares at 0.44c" Yep but only for a tiny % of the share base. Valuing the entire share base at the same value is farcical imo. If you decide tomorrow to go and buy 100 RRR shares and offer the MMs 3p a share, that doesn't suddenly make the other 499m shares worth 3p does it ?! There are plenty of posters on other forums and websites saying that the value of Jupiter is being over-hyped. A relisting will for sure end the speculation once and for all, if it happens ! Best wait to see if it does and where the JMS SP settles imo. "I have told you previously that steelmin have always had option to increase loan by another 8 months so it's not new" You have no need to tell me, I've been highlighting the fact for months. I speculate that they might well take that option which will leave RRR having to keep paying down it's huge loan with YA ($2.8m still outstanding). Where's that money going to come from? We are due �364k from Jupiter and circa �529k in April from the Limon prom note. But then there's the colossal �686k of Admin and Exploration expenses to foot. So again, where is the money going to come from to keep paying down the YA loan? I think I can guess !! You're basically trying to get people to pin their hopes on either Steelmin refinancing/repaying and/or Jupiter relisting and AB selling JMS shares, neither of which has yet happened. It might be a decent punt were it not for the fact that AB has already just secured authority to issue up to 500m more shares here (curr 499m in issue). There's the rub. It's not like RRR doesn't have form in the dilution dept ! The simple fact that AB felt it necessary to request authority to issue such a huge number of shares certainly casts doubts for me on how confident he is that all this money actually will come rolling in. Each to their own and DYOR.
The issue here is that an investor seeking to make a return has to take a position BEFORE the value-enhancement news, not wait until it has announced the news and re-rated. Investing is about the change in value AFTER you invest, not the value AT the point of investment. Otherwise I'd be a zillionaire by simply buying APPL shares tmrw. That's all the more true on AIM where SP is set by the MMs, and news comes at 7am giving them an hour to adjust the price upon news before you get to buy. So if RRR release a game-changing RNS at 7am tomorrow, the price will already have up-ticked before you have the opportunity to take a position. For example. I agree that in a FTSE100 co you can just hold and let gradual accretion get you 5-10% per annum steady growth. I don't think your typical RRR investor is looking for that risk/reward profile. Maybe leave RRR to investors who actively want this RR profile and stick to shares that better suit you? Just 'cos it doesn't suit you doesn't mean it doesn't suit others ... just saying' ...
The magic mushroom fella is a complete numpty best ignored he is loose of a few screws. Value is building nicely here in real assets with near term production and growing whilst throwing off cash from previous investment Jupiter etc etc. Magic been on the mushrooms for many years it has caused many rambling posts on here that repeat and go on a bit. GLA genuine investors
Magic I don't think you should be investing in aim companies, you should be investing in ftse100 companies which I believe you are suited too. Fact of the matter is Jupiter has been buying back shares at 0.44c even if they are listed or sold privately this is the value we are using to value our share of the company which is 1.2% of aus$1bn. I have told you previously that steelmin have always had option to increase loan by another 8 months so it's not new. We will know for sure by Wed of they extend or pay up. Then we have news on cobalt deal and the kenyan gold contract..
His views aren’t based on speculation they are based in info in the last RNSs. You are the one whose speculating against the guidance given. Anyway don’t worry yourself. All could become clear at 7am tomorrow.
maestro your view is based on speculations, i.e that: 1. The Steelmin refinancing with Luxembourg will complete 2. That Steelmin will repay the loan rather than extend it for 8 months 3. That Jupiter will relist rather than be sold privately etc Experience tells me personally to wait until these things actually happen because if they do not, then no, it doesn't look cheap at all. It's important that we see if Steelmin do make it to production and if so, what those levels of production are, what the associated production costs are and thus what revenue is generated. Shoats Creek imo taught investors to ignore the lame ramps of shameless traders and to wait for concrete production figures. Steelmin is no different. Owning 22% or more of a company that is not producing isn't value. It's money locked into an illiquid asset. The situation is really simple imo. Wait to see if Steelmin do complete their finance deal and if they do repay the money to RRR Wait to see if Steelmin do reach production and if so wait for real production/revenue figures Wait to see if Jupiter do relist and if so what AB does with the JMS shares here I never believe the cherry picked rose-tinted scenarios painted by unscrupulous rampers. If things were as thye portray than the company would not have needed to request authority to issue up to 500m more shares here at the recent AGM, but unfortunately they did just that. You can't hide or bury that very significant action of the BOD.
Of Red Rocks asset in Bosnia. https://www.google.co.uk/maps/uv?hl=en&pb=!1s0x475e35900cbb36f5%3A0x16c3c67af820e82d!2m22!2m2!1i80!2i80!3m1!2i20!16m16!1b1!2m2!1m1!1e1!2m2!1m1!1e3!2m2!1m1!1e5!2m2!1m1!1e4!2m2!1m1!1e6!3m1!7e115!4shttps%3A%2F%2Fpicasaweb.google.com%2Flh%2Fsredir%3Funame%3D107942400854800377617%26id%3D6475773653328540018%26target%3DPHOTO!5ssteelmin%20jajce%20-%20Google%20Search&imagekey=!1e10!2sAF1QipONjGflTgnHCqkl4WRTvDk4sRw6tUv_wKIHh0Eq&sa=X&ved=0ahUKEwjVvqujnfPYAhXJKcAKHcq9Aj4QoioIggEwDg&viewerState=ga
Mr Magic does Noirua post answer your question, they will have cash to sign cobalt deal should it have decent resource, even without steemin loan... :-) Admit it current levels look cheap..
Mr Magic, even if they do, steelmin have a right to do that subject to the agreement we have with them, they have option to extend for another 8 months, by that time we will have 30% of steelmin and additional interest of 5%... 4.67m mkt cap I take that....
Irick4g No I am basing the current assets certainly have value over £4.67m. Our shares in Australian company are worth more than that...
The next announcement that looks likely to arrive in the coming week is the re-payment of the loan to Steelmin. RRR say they will be GBP1.8m in pocket on the event plus a 21% stake in Steelmin. That rises to 22% if payment arrives after 31st January 2018. Not later than 1st April 2018 Para Resources are due to repay USD750K plus interest and gold royalties. Red Rock are expected to receive GBP364K on the share buyback by Jupiter Mines. Red Rock are expected to receive about GBP1,460,000 on the 25% share sale on the IPO of Jupiter Mines in April 2018. Based on the buyback price of AUD0.44 -- Based on a price of AUD0.44 RRR's remaining JMS shareholding will be worth GBP4,380,000
http://business.financialpost.com/commodities/ghost-town-of-cobalt-gets-first-jolt-from-teslas-electric-cars So much to look forward to here soon. Don’t look back in anger.
Graphite - "there maybe a bit of money coming in next week" It's the fact that you have to use terms like "may be" that make this such a weak argument. The RNS you refer to has similar worrying language and conditional elements such as : "Steelmin intends to repay" rather than "Steelmin will repay" "a new Steelmin note to be placed with investing funds on a best efforts basis" "the Agreement, which is subject to some rights of withdrawal by the lender" Not really the kind of concrete terminology one would hope for imo. I maintain my prediction. Steelmin will imo, elect to extend the financing for another 8 months and kick the can down the road.
Magic, I am off out for a tad, rather than post here to the negative for a while try reading this link and follow the guidance on grieving a financial loss; http://thebounceblog.com/articles/bouncing-back-from-financial-grief-and-loss/
Magic perhaps a tad silly but maybe if you had read the RNSs there maybe a bit of money coming in next week, ever thought if that happens they may just use some of that? I know crazy to think that may happen and completely off the wall thinking but you know better don't you sweetie.
Didn't you say similar things about Shoats Creek Helpful? How much cash invested there and yet little to nothing being produced and now Mayan are very keen to exit the field altogether. How much cash piled into Greenland and yet nothing has come of it. Sitting their unsold. How much cash piled into . . . Kenya, Ivory Coast, Cloud Computing, Candy Sweets, Elephant Oil etc etc and here the rampsters are again saying .. "No really this one is the big one Reggie, this time it really could be milk and honey, we'll be millionaires" lol Still no-one has answered the fundamental question. Where would RRR get the $700,000 cash from and the $1.2m for exploration expenditure plus the regular burn on admin/exploration expenses of �686k??
If the metal is in place as indicated and we get the production license then DRC is a cheap deal. The value of the recoverable metal is huge.