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Nice ramp Ritchie. All good then? The cherry picked items there are all that there are is that right? Do you know what the current liabilities are at this point? Got a source for that? If not how do you know what's "in the bank" so to speak? And what of the coming dilution from CLNs and warrants? That slipped your list too.
I bought in here and have been posting since november. I was looking for a number of beat up shares with low sentiment that had been bashed to death and that had a low share price and excellent turnaround potential. This fitted the bill perfectly. Jupiter value will be determined by the market after 18th april. This will clearly define its value and remove another of the bashers constant whines about it having little value. Job done (nearly- 4 weeks to wait). Todays news putting in place a clear timetable to IPO is superb. Other whines have been Steelmin. It wasnt ever going to be able to get refinanced according to many. Job done. Steelmin production is imminent. Having been there it really is an excellent asset. The story there is just beginning. Whats next? Kenya? $750k in from Colombia? DRC cobalt? Who knows. With cash in the bank soon to be circa £3.5m, valuing Steelmin, Jupiter, Kenya et al at £2.5m at the current price. An absolute bargain at 1.15p. I was happy when i bought in and am even happier now.
https://www.jupitermines.com Timetable
I agree Cgull, you'd be a fool to listen to the hoards of rampers that plague every AIM board promoting companies with poor past perfroamnce and a history of diluting shareholders massively. The RNSs are vital reading, the AGM resolutions are equally vital reading. Broker reports are useful for an "at a glance" summary of the company assets and the like but as they nearly always omit important information I personably deem them wholly unreliable for an investment decision. Edison, Dowgate .. . . not one past broker report afaik has every come remotely close to correctly predicting the future SP and it should be obvious why imo. The problem now is that with the many millions of dilutive shares to come here from the outstanding CLNs and warrants (some 320m more shares at prices from 0.66p to 0.9p) then we must surely expect the boards and Twitter to be awash with ramp squads for the foreseeable, trying to boost the SP so they can sell those dilution shares. There's no question to my mind that with 510m shares in issue now, and 320m dilutive shares coming, any SP movement will likely be sold into for some time. That is after all an amount of shares equiv to 63% of the existing issue ! How will they get all those shares away? On the back of a Jupiter relisting if it goes ahead? Can't see it TBH. There was a huge Jupiter rampathon some months ago with lots of ridiculous valuations being thrown around. It didn't achieve much imo. Too many people here have been around long enough to be swayed by carefully cherry picked half information.
I am sure a newbie would read that, the RNS's, the accounts and research the background of the BoD. I would suggest they look at the information flow and quality too. The risk/reward ratio would then be assessed. Nobody would be so dim as to rely on PR, Twitter and non-RNS company statements alone. Would they?
El limon was producing before rrr bought in.certainly hope the 750 arrives.less optimistic with the royalty. Anyhow lets see how it pans out.
Edit just need reconditioning.
Steelmin is not new plant, was producing prior to the bosnian war. Most of infrastructure was in place just needed infrastructure. El Limon asset has currently been invested heavily. Very unlikely they wont repay 750k + 5% interest.
Any newbie to rrr i suggest you read the align research note, can download from here. http://www.alignresearch.co.uk/cpt-company/red-rock-resources/ Gives breakdown of all assets, potential values etc etc By end of april rrr will have in excess of £3.5m in bank. They will still own around 21m shares in jupiter which will ipo next month on asx for 40c per share. A profitable company with no debt and they have promised to return 70% of profits to shareholders per annum. I will take wild guess and these will trade alot higher than 40c in mkt. Then we have steelmin asset which we own 22%, first furnace is due in production shortly. Ferrosilicon prices have increased over 30% this year, this furnace alone can generate ebitda eur10m. So has great value for us. Last results Andrew said their is a possibilty to liquidate asset. Wont be surprised if a bid comes in. Anything over eur50m possible... This is just two assets mkt cap just over 5m.. Migori gold license is worth 10m pounds should that get returned to us, currently in arbitration. News expected shortly..
You only have to look at previous edison reports to know they should be completely ignored.regarding kenya,limon and steelmin,I will wait to see if any of these come to fruition. Experience says to be cautious with any predicted events. however I am up considerably on last years buy so waiting to see with cautious optimism
Maestro: "Total shares inc warrants/options and cln is near 1billion shares. If all warrants are converted then it brings in further �1.6m." Yep but unfortunately Maestro that extra cash, which goes into the company coffers, does NOT offset the considerable DILUTION coming to shareholders here does it?! If you do the math you see that the current SP is already inflated based on today's MCAP. MCAP today is �5,355,000 (based on 510m shares at todays SP of 1.05p shown above) Add in the additional �1.6m that the warrants would bring in and you get a MCAP of �7m There are 119m more shares to come from the outstanding Convertible Loan Notes @0.8p There are 201m warrant shares to come from the warrants currently "in the money" which are exercisable at prices from 0.66p to 0.9p. So the total share issue is actually effectively 510m + 119m + 201m = 830m Using the simple equation SP = MCAP / No Of Shares * 100 We get : SP = 7,000,000 / 830,000,000 * 100 = 0.84p Therefore, all else being equal, the SP appears hugely inflated at present. Possibly that's because lots of people are currently speculating about future value, or perhaps some were unaware of the many CLN and warrant shares coming that represent dilution, or perhaps it's a bit of both. It is what it is.
https://twitter.com/RRR_RedRock/status/975654132580265984?s=19
That is seriously hard work deciphering that sharetalk mess. Elephant Oil? All the other failures? Not a question or a mention of the twitter hinted share buyback. What a waste of money all that puff is as anybody with half a brain cell would do proper research before investing. I think these PR companies actually deliver the opposite to the desired effect. Why aren't profit producing dividend paying companies ever "featured" on these and similar outlets?
Jupiter may trade close to $1 a share once listed, it has no debt and throwing out excellent profit. I think migori license news is close.
Hawaifive Total shares inc warrants/options and cln is near 1billion shares. If all warrants are converted then it brings in further £1.6m. Read the align research note, the company is massively undervalued...
Surely any prospective share price rise will be heavily curtailed by warrant conversions, there are over 300m warrants out there ranging from .60p to 1.4p with the average being around 1p I am sure Metal Tiger, who have 55m warrants at .80p are licking their lips at the recent rise, they expire in August & October. Never shy to dump are Metal Tiger. Note the recent interview does not mention the warrant wall.
More lies Maestro. Poor show sir. There is no vendetta against Andrew whatsoever. In fact I have defended him at times on these forums from various despicable posters who have said rather unforgivable things about him and/or his family, such comments being highly deserving of rebuke from all posters and of forum reporting. I may not agree or like the way he runs the company or communicates information via RNS and other channels but that is something entirely different. I post on few companies because I realised some time ago that one needs to have a very good background understanding of a company to be able to make effective posts and conduct meaningful discussion. Without that you swiftly end up tying yourself in knots.
You clearly have a vendetta against Andrew Bell, thats between him and you. So we know your motive, you post on three stocks RRR, RGM and MYN. Good luck
Maestro: "you continue to cry about the past" The past is highly relevant becasue it's the same BOD opertaing the company. If they have a track record of expending available cash say on Admin, expenses and ventures that haven't delivered much shareholder value then it is surely reasonable to take that history into consideration. Like I said, who cares if they do get �3.5m in the bank?? They've had �9m from share issues in the past and what did it produce? What shareholder value came of it? By all means exercise your perogative to stick your thumbs in your ear and say "wahh wahh I don't want to hear that" but the track record is there for all to see regardless. I'm happy for you to brush inconvenient truths under the carpet for your own sake but you can't expect to con the rest of us into believing that it has no relevance. Steelmin should add value, but I choose to wait and see if/when they actually do achieve production and what exactly they do produce and at what cost. That seems eminently sensible to me. The Shoats Creek debarcle taught me that. The El Limon royalties have been pathetic imo so I choose to wait to see if Para can actually greatly boost production rate in 2018 and thus royalty revenue for RRR. Again that seems eminently sensible to me. I have serious doubts about it but I will just wait to see what transpires. and so on . . . .
you continue to cry about the past, you totally write off the current assets which valued the company in excess of �20m. Good luck to you, no point arguing with you as it seems you are still stuck in the past. I feel for you you lost money investing, we all have, its the risk we take investing in aim market.
Magic wrote "And that's fine it's your view and you are entitled to it. Some of us however are longer term holders and have more experience of the history. Your figure of �3.5m pales into insignificance to those of us who remember that RRR raised over �9m via various share issues in 2013, 2014 and 2015. That considerable sum of money raised didn't stop further share issues from occurring. Granted there have been less issues recently than in previous years which is of course encouraging." We are not talking about what happened 3-5 years, there will be sharetalk presentation shortly i suggest you watch it. Very near future RRR will have over �3.5m cash in bank, all assets are coming into play now. Steelmin, Jupiter and El Limon (loan/royalty). Jupiter will relist for 40c per share nexst month, very likely to be trading higher than 40c.
Bless you Maestro, one can not fault your enthusiasm, naive as I believe it is. What companies say they will, might, should, perhaps achieve, is usually very different from what they actually achieve. Hopes, anticipations, expectations and so on often turn out to be damp squibs. As key examples: AB said previously I believe that he expected that El Limon could be raised to 400tpd production. Actual production has been far far behind this. When the Shoats Creek LM#20 well got going there was much talk of 300bopd production or more and then talk of the operator wanting to stabilise production at 200 to 225 bopd. The actual production rate turned out to be 100 bopd which fell to 70 bopd (14 net to RRR) and then to nothing when the well suffered sand ingression. These are object lessons to demonstrate that hopes and expectations and rampy sound bites mean absolutely nothing. What matters are the hard actual production numbers.
Magic wrote "No never claimed anything of the sort, that's simply a lie. What I HAVE said is that if the deal goes ahead then (according to the RNS) RRR will have to stump up a cash payment of $700,000, engage in dilution via the issuing of �490,000 worth of shares at 0.65 pence a share (with attached 5 for 3 three year warrants) and also commit to fund a further $1.2m of exploration expenditure over 18 months to produce a bankable feasibility study. Lot's of cash and dilution. There wouldn't be any value delivered unless and until there was some production, just as with Steelmin. We would have to wait quite some time before that point was reached." As i told you yesterday they cobalt deal was agreed last year when the share price was near 0.65p, they have happily allowed us to extend the DD period a few times (over 6 months). Management believe they can get the cobalt resource to near 60Mt-70Mt. Now tell me getting 52% of a cobalt asset for literally $3.2m, i think thats an excellent price. We're we to buy this 52% on the open mkt it would have cost us alot more than $3.2m.. imho You talk about there being no production for long time, this is the stock market companies are valued for future potential/earnings. You cant have the cake and eat it, commodity stocks are valued for future. You need to learn alot,,, And finally 1 ton of cobalt cost $86,000, now that is huge. If we bag this asset shortly this can easily bag the sp instantly. I believe announcement shortly... imho
Maestro: "stock market usually values potential for the future," Stock market knows the history of most AIM companies like this one. They know how the BOD operate, how cash is expended and what if any shareholder value has been delivered. They value the share accordingly imo.