London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Good spot there Daniel. Details of the Escrow agreement for the JMS shares. I did of course note the rather typical woolly statement in the recent RRR Half Year report which said: "RRR has agreed . . . to hold the remaining 18,524,914 shares in escrow for a period after listing" The report neglected to state what that Escrow period is. Your link provides the answers if I have read it correctly. It basically says that 50% of the shares in escrow will be locked there until Jupiter release their half year financials to 31 Aug 2018 (which are usually published in December) AND provided that the JMS VWAP over 20 consecutive days has been 20% or more above the IPO price. The other 50% of the shares in escrow are there until Jupiter publish their Annual Accounts for year ending 28 February 2019 (usually published in June). This is my interpretation of what I read but people should read it and check for themselves in case I have misread it.
Colin he did sharetalks presentation where he said that. Go and dyor. Im not in love with no directors im here to make money.
Briarbank Its more likely PG selling some more. Thats his prerogative its the mkt. 1.30am our time jms listing.
bothered informing RRR that his RRR shareholding is exactly identical to his 22nd March holding RNS. I thought the bigger shareholders have previously said that if shares in issue increase in a company (in this case because Goldstone converted their warrants into RRR shares) then if your holding percentage goes down then no need to inform the company.
Notice of initial substantial holder https://www.asx.com.au/asxpdf/20180417/pdf/43t8hfmq8tvqst.pdf
Goldstone warrants.............they were due to expire at the end of this month (28APRIL) Good timing..............holding off for nearly 2 years.
Probably Goldstone, selling part of their take up of 21m warrants AT 0.66p RNS 13April 2018. Giving RRR �140K. And offered by RRR RNS 28 April 2016 Part of deal when RRR bought a 9% stake. RRR have since sold all, at a profit. So you cant blame Goldstone. Nearly doubling their stake, and waiting nearly 2 years. RRR SP will weather this I am sure.
2 x 500,000 sells late yesterday 3 x 1,000,000 sells todays at �11k + each Who is dumping here? Is Peter Gyllenhammar continuing to sell down his 11% holding?
I missed that podcast Maestro. Did it mention the money held up in a Cypriot bank?
Lol @ AB says.. Gtfooh. AB says. Ha ha ha I've heard some pretty stupid recs for stock picks in my time, but that cookie wins hands down. AB says....
Colin Listen to past podcast and AB has said number of time Migori is next. I think by summer it will be wrapped up, they said rrr bod have done more trips to kenya in the last 7 months than they have in the whole 3 years. Its close. Imho
Why do you think the Migori project will be back in RRR's hands within 8 months Maestro? Do you have inside information? As I understand it there is an ongoing court case and the lawyers will milk a very complex matter for as long as they can.
Again you are talking about 8 months down the line, by then migori gold project will be returned, jms shares will be trading near aud 1 per share and steelmin will be in profit and in maximum production capacity. And.... Cobalt deal will be secured.
You are simply underpinning the fact that an investment directly with Jupiter itself is infinitely better than an investment here. Jupiter shareholders get cash in their pockets from the cash distributions, so surely it's a no brainer to buy JMS shares. RRR on the other hand have had 3 nice cash payments from Jupiter and not a penny of it was passed onto RRR shareholders. But �1m worth of CLNs were issued here at 0.8p and hundreds of millions of warrants have been issued to boot all of which shareholders will have to brace themselves for in the near future imo. It's clear to see which of these 2 companies values its shareholders the most imo.
And Tshipi is still throwing off cash at a tremendous rate because it is producing in excess of the 3mt figure. The asset is so large that even that level of production hardly scratches the reserve. Target 4-5mt pa going forward, all goes straight to the bottom line. You seem to be conflating your "I lost �9k and need someone else to blame other than myself - where's that rotter Andrew Bell?!?" with the actual value of one of the world's biggest and lowest-cost Mn mines. Ie a "well it's got a link to Andrew so it must be sheet" flawed logic. BTW if you'd worked at the living wage in a fast food joint for the same same number of cumulative hours you've posted on RGM/RRR boards you would have more than recouped your losses, and would have met a few smiley human faces in the process. Just a thought.
Okenia - "The results for FY2018 when manganese prices averaged around US$4.742 demonstrate the cash generation potential of Tshipi. With current prices at US$7.232, significantly higher cash flow is being generated" Unfortunately the markets are predicting a sharp fall in Manganese prices in 2018 !! :-( https://www.metalbulletin.com/Article/3767392/FORECAST-Citi-predicts-30-drop-in-high-grade-manganese-ore-prices-by-late-2018.html "Citi is forecasting a drop of almost 30% in high-grade manganese ore prices by the end of 2018"
Perhaps this will translate into a dividend for Red Rock shareholders.
Nice to see Jupiter describing future returns to JMS shareholders as a "dividend" - which is what I have always called it, despite bashing my head against the table with one particular person here - and not the technical mouthful of "equal access buy back" Also looks like Tshipi has had a cracking year, exceeding the 3mt production forecast and with cash flows that hit the ball out of the court. "Jupiter CEO, Priyank Thapliyal commented that "the Tshipi operating and sales strategy for FY2019 is broadly similar to that of FY2018. The results for FY2018 when manganese prices averaged around US$4.742 demonstrate the cash generation potential of Tshipi. With current prices at US$7.232, significantly higher cash flow is being generated. Product has been sold through to April which will result in cash in the bank for Tshipi of approximately ZAR 1.5 billion at end of May. Should the markets hold, this raises the prospect of a substantial HY2019 distribution to Tshipi shareholders, and in turn to Jupiter shareholders under the Company's dividend policy as stated in the replacement prospectus."" - from the RNS JMS looks like it will be a continuing and growing cash-cow to RRR with dividends and one hopes a similar uplift in the capital value via the market price on ASX. The market will readily value Tshipi/JMS simply on a dividend yield basis.
Hi GraphiteTech, no i got to disagree, you're a way lower form than me. Trying to relentlessly constantly lure in the gullible. I never try to entice fellow PIs to part with their money by telling them rampy BS. So on that basis you are a WAY bigger lowlife than me.
Zumore is one bitter troll. Obsessed with Andrew Bell. Obsessed with the loss he made here. What a sad case and a good example of humanity in its lowest form.
Magic is making assumptions about warrants being converted in the future then he also needs to make assumption on future growth, those warrants will bring in cash near £2m. Jms will be trading significantly higher and by then steelming will be producing full capacity. He cant use current sp to move his agenda forward for the future unless he is mystic meg.
Yes good post with good points MrMagic. I recall we had a minor dispute the other week when i had my doubts that the 0.80p CLNs would be converted but you thought they would. The mid price back then was around 0.95p but now that this mid price is around 1.15p i think there is enough cushioning for the CLN holders to make a quick profit and so at this price the CLNs and lots of the warrants could soon be converted. Though i don't think this high price will last forever: after the IPO happens i think any enthusiasm for this company will fizzle out.
Absolutely ridiculous, when jms delisted it was on 7c now the mkt will again value them. This time alot higher. 40c plus... Mkt cap less than 6m. Will surge higher..
zumore: "I personally cannot see any dramatic rise here" Me neither. All you have here are the same old momentum traders desperately trying to generate a spike so they can exit imo. The IPO will be a damp squib imo. RRR already own their JMS shares and have done for years. The markets are well aware of them and have a view as to their value. That value has always imo underpinned the MCAP here. Jupiter have performed 3 share buyback exercises which delivered cash into the RRR coffers. Therefore the markets know what value Jupiter themselves wanted people to attribute to their shares, but despite that, the MCAP here remains where it is. Conclusion . . the markets have already made their minds up what the JMS shares here are worth imo. Everything else is hopes and dreams and ramping spiel the like of which LTHs have seen spouted over and over for many years. The "sum of the parts" rhetoric is a sleight of hand being used constantly. It doesn't work for AIM diluters imo and regardless that "list of parts" always conveniently excludes the current liabilities and the massive increase in the number of shares that will likely occur. There are 119m more shares at 0.8p to come from the outstanding CLNs when they are converted There are 180m more shares at prices 0.8p. 0.84p and 0.9p to come from the warrants if/when they are exercised. Then there's the fact that company also requested and was granted authority to issue up to 500m more shares here this year (at the last AGM). This doesn't guarantee that any/all of that allocation will be used, but the authority to issue remains nevertheless. It therefore has to be factored in. None of the above important aspects feature in the shameless ramper's "sum of the parts" MCAP valuations so I pay no heed to their spiel at all and resolve to research the full story.
What about Migori gold project? Thats worth £10m to us if its returned.. Jms ipo tomorrow. All buys to date..