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Sigh . . . . let's take this slowly . . . . 30th Dec 2017 the current liabilities were �5.3m (see half year report) 21st Feb Steelmin repay �3.7m of which �2.1 is used to pay off the Yorkville debt So at this point we have �5.3m - �2.1m = �3.2m of current liabilities and we have �1.6m cash in the bank Does that make sense?
No the steelmin loan has been repaid, wipe that off too the liability.
Maestro - "right now we over �2m" If you're claiming that any cash received since 30th Dec is still in the bank then you must also concede that there remains �3.2m of current liabilities.
How is the finances tight, right now we over �2m, non of our assets requires investments at the moment. Like you say �1m of cln, this will eventually get converted in shares at the time of expiry. RRR will not have to pay anything. $805k will be received in april/may and the jupiter sale will be received as soon as they ipo of c.�1m. Jupiter are claiming they will give 70% of their profits in divis, this means our 1% share in JMS will receive C�500k per annum. Steelmin should hopefully be in production in shortly, this will be profitable and value our share more. In essence at the moment our NAV is over �20m yet the mkt cap is 4.8m..
Maestro, you are correct that since 30th Dec more money has come in from the Steelmin repayment. Steelmin repaid its loan, some �3.7m so there effectively remain �1.6m of debts from that �5.3m. Cash and cash equivalents as at 30th Dec was stated as just �125k. We do know that we are expecting some �550k from the final El Limon payment in April/May And a further �1m from the sale of 20% of the JMS shares IF the IPO goes ahead as published. If those 2 things went towards the debts then they would cancel off that remaining �1.6m of liabilities but would equally leave us with little to no operating cash. But we also have to consider the other costs. The Admin expenses, running costs, project costs and the like which the half year report stated were the equiv of �775K per year. So I guess much will depend on exactly when those liabilities have to be paid off and thus how much liability vs bank cash can be juggled. There are of course also the 201m warrants that are "in the money". If they were exercised they would raise �1.6m of cash at the expense of issuing 201m shares at prices from 0.66p to 0.9p. The CLNs when converted will add a further 199m shares at 0.8p but the cash for those has already been received and used. The question is, will those warrants get exercised when RRR needs the cash? Will the timing be right or not? Without the warrants being exercised it all looks a little tight unless I've missed something in my numbers (which is always possible so please check) I hope this meets better with your expectations of impartiality !
Magic You wrote "The company has just reported that it had liabilities of �5.3m as at 30 Dec 2017. Admin Expenses and various other running costs were the equiv of �775K per year." Again magic, you know fully well where the majority of liability is from but you failed to show your impartiality like you claim, �1m for the cln and �3.1m for the steelmin loan. You know the results are till dec 17, so thats the cut off, but in feb 18 Steelmin repaid the loan to us and we repaid the loan to our provider. So that liability will be removed in next results. In that regard, just by removing that liability NAV will increase. NAV will be in excess of 20m next result. MKT cap 4.8m, i think you dont have to be an accountant to see its significantly undervalued. Good luck crying about the past.
Maestro - "I believe JMS is undervalued at 40c" Yet you didn't go and buy up all those JMS shares being sold privately at 35c on the website I highlighted numerous times ! Ergo, I don't believe your spiel for a second. Maestro - " i see disparity between the mkt cap and balance sheet" But you refuse to entertain the notion that the reasons for the disparity have anything to do with how the BOD operate, how they treat shareholders, how they expend available monies, the way they communicate in RNSs, the extent to which they dilute and so on. Like all shameless rampers you consign those factors to "history" and suggest that history is not relevant which is frankly just laughable. Maestro - "Even if they do nothing the company can function with the jms divi while other assets ripe" The company has just reported that it had liabilities of �5.3m as at 30 Dec 2017. Admin Expenses and various other running costs were the equiv of �775K per year. The company had over �9m in cash from various share issues in 2013, 2014 and 2015. Where is that �9m now Maestro? If they can burn through �9m and have little to show for it then how far do you think the Jupiter payouts will go given they are tiny by comparison? The SP and MCAP are where they are for a number of reasons, and imo, the markets know what those reasons are and hence there exists your disparity. Ramping the same sound bites over and over isn't going to remove that disparity.
Ludeck You had a bad experience in the past with Rrr, its only natural for you to be negative about this company. I believe JMS is undervalued at 40c, when ipo true potential will be realised. I dont have any love for Andrew nor any bod on aim, but here i see disparity between the mkt cap and balance sheet, nearly 4 times. Even if they do nothing the company can function with the jms divi while other assets ripe.
Maestro you will find the same was said in 2011.Maiden dividend never happened.time will tell,I have a cautious aproach to any predictions from rrr.the track record is not good at all,but rrr is in better shape than for a long time so the jury is out for me.lets see what comes to pass.of course you and your pals will be long gone if things follow the form leaving the uninitiated locked in. In regards to cobalt,arcm have exposure to that in drc and their share price record is pretty pathetic.vinny can fill you in on that one.he patrols over there from time to time I think.maybe a good punt for you.
I would think anyone hearing from a CEO that he will "consider" paying a dividend would look at the character and history of the person making such a statement, and draw a conclusion about just how likely a dividend would be, also considering what other motivations might exist for that statement being made.
Cgull Andrew today said they expect the full year to show profit for the first time since 2011, in an interview with Zak andrew said he would consider paying out divi after full results.
Maestro, Paternoster resources, Nicholas Lee for example. Always a disconnect there between nav and sp. It matters who's boss.
If you think there is value fill your boots. Nobody is stopping you. You don't have to justify your rationale to anybody, least of all a BB full of uneducated morons. All I will say is that what you have expounded as reasons to invest here are flawed IMHO. No shareholder will ever see a return. Have they ever? The true and living god most high has heard the promises many times before. Ask yourself why big holders got diluted and Bell only bought in when he realised the numbers didn't stack up for the AGM? The cross holdings with the RGM gravy train for Bell are the big clue as to what this company is about. You will not get the BoD out. They have made sure that can't happen. It is a lifestyle company.
Gull Are you the same as Magic, it seems you and him always come in pair, whether here or advfn Joe It doesnt matter who is at the helm this is aim stock, as the moment there is a great difference from the NAV and current mkt cap it just too much. I think there is value here.
Maestro, If you want to see any of the nav reflected in the sp, replace the board. Get PG on board, you lot seemed to adore his arrival before Xmas....until Bell diluted the shit out of him so the current BOD could carry their agm resolutions, and continue their dual gravy train voyage, those global directorships and travel that come with it. Choo choo
I think you need to take a bit more water with it. Either English isn't your first language or you refuse to understand the difference between might and is. Bonkers.
Great news the Net Asset Value increased to �17m and we are still trading at �4.8m. Serious rerate will happen anytime now. Three bits of news can lift the sp significantly -Jupiter Mines Listing of 40c -Receive �1m for disposal of our some jupiter shares, will retain 18m in JMS -Steelmin commences production -El Limon repay $800k loan PG sold at the wrong time, he did the exact same thing at sti, they signed a JV with large company and he put 30m shares on the bid. Put alot of investors off. Erratic investor..
Another one for you. https://twitter.com/Boardo65/status/978220930563325952?s=19
Hello Vini. To be honest I think the best thing for RRR shareholders would be to quickly remove Bell and Kaintz from their positions at RRR. My opinion is Kaintz and Bell are the reason many PIs wouldnt invest in RRR and so why would shareholders want to keep them when they are holding back the share price?
Says the multi alias, blatant ramper, Vini.
for the newer RRR shareholders but from my observations many seasoned AIM investors will no longer invest in an Andrew Bell run company: they just don't rate him or his sidekicks abilities. Still at it I see. You must be paid well to keep this up for years.
Don't these loans have a high interest rate? I'm guessing some of the repayments are only covering the interest
Reports states that as at 30th Dec 2017 the liabilities were �5.3m which is up from the �4.8m as at 30 June 2017. Not sure why but I had assumed the liabilities would have been partly paid down rather than increased in that period. On 20th Sept RRR made its first repayment towards the Steelmin loan of $507,156 The company also raised �1m via CLNs to pay down the Steelmin loan and also received $279,945 from the Jupiter buy back and also raised �125,000 via a placing How then have the liabilities gone up to �5.3m instead of being reduced? What have I missed?
Half year report just out states: "In the event the IPO and listing were to proceed" Seems to suggest to me that nothing is guaranteed in this respect.