Member Info for booboobooboo

Good morning Zumore,

Valuations post consolidation based on RGM contribution remaining at zero and the Mambare work program continuing to DFS fully funded by JVP.

We could debate this for a long time but for me if we were to imagine Mambare listed on the ASX in £ signs I would give it a valuation should it reach the DFS stage of between £3 - £5M in this market.

RGM minority holding will be at the most 15% equating to £450k - £750k plus £800k cash raised totalling.

Ttotal £1,250,000 - £1,550,000 (870,000 new consolidated shares in circulation) = 1.4p - 1.7p

But I think we need to take the remain £760k of debt into account and if you do that and assuming £100k pa average director salaries and we are looking at a more realistic value of 0.5p .

Its already starting to look like 2020 is going to be another 90% down for RGM shareholders ,lets just hope SP ,Luke and SL haven't both thrown good money after bad or they'll find themselves at the end of 2020 fighting over the" RGM biggest ever dunce in history hat".

Zumore , thanks for that

https://uk.advfn.com/stock-market/london/regency-mines-RGM/share-news/Update-on-Mambare-and-Direct-Nickel/45437866

"Regency and DNi have agreed that they will each contribute up to GBP1 000,000 to the next phases of exploration at Mambare which is planned to commence in January 2011 with the twin objectives of drilling out a resource and testing further areas of mineralisation."

Obviously this is Bell BS at the time, so basically its March , this means the road ( assuming the 24th July RNS is correct) to the top of Mambare inc. costs associated started March 2019 . Add 3 months which is a reasonable period of time before serving notice to an non contributing partner and its starting to look like June was when we ( I am speculating but its high probable ) became a minority partner .

We have been working on the assumption the 24th July Mambare RNS was yet another pack of lies but imagining they were telling the true on that occasion then all the above is almost certainly correct.

Stephen Pearce it might be worth noting Scott was holding the reins for that period.

Zumore I am very busy ATM your 25 posts a month ration was a great idea ATT cos nothing was happening then,now its a different story today so you should IMO resume more regular posting .

As Lundy posted the AR will confirm who's right or wrong.

Lundy Unhelpful "I expect there will be an AGM update but in any case the AR should be out soon. Why bother with all the assumptions and hysteria when you should have some facts pretty shortly?"

I dont suppose we will be hearing from him for a while.

Zumore can you remind me when the rainy season ends in PNG,in 2011 exploration work started end of Jan from memory.

Thanks

To put it another way its either,

A) the 24th July RNS relating to Mambare was totally false and the true really is nothing has been happening there.

B) The 24th July RNS is factually correct and we plan to pay for it using the £800k raised on the 23rd Dec plus an additional placing in the NY post consolidation .

C) The 24th July RNS is factually correct and we are going to pay something towards it to reduce the level of dilution .

D) The 24th July RNS is factually correct and we don't pay anything towards to costs resulting in us being heavily diluted to single digits.

Which one is it A,B,C, or D?

I don't think anyone of sane mind is going to dispute if the work has been carried out at this stage RGM hasn't paid a single penny towards the it as RGM full year report due in a few days time will confirm .

Given that this work and the cost associated started 12 months ago(basically this is old news but new news too cos RGM have chosen to withhold and hide this information from its shareholders ), its logical and reasonable to believe Mambare dilution notice has already been served i.e. we already are a Mambare minority shareholder.

Were any of the 7 billion new shares participants made aware of this critical investment fact?

Zumore sorry I can't remember who is who , isn't Helpful Lundy in real life and didn't SP post his involvement in the placing ?

Common sense assumption :The only assumption in that post is it only costs £2m to build a road to the top ,GPR and mining licence application etc. and RGM can't afford to contribute towards any of the costs everything else is fact .

Fact: This is what Andrew Bell said to me once in 2011,"at 2 - 1 you would have to be a fool to not match your JVP pound for pound because at that level (2 -1) one partner can dilute heavily the other partner very quickly ,before you know it your holding is at single digit %"

Fact :Scott would of course have signed a budget agreement with PNG authorities so is fully aware what the final dilutionary amount is should he fail to contribute .

You can put lipstick on a porkie pies ,but its still an pork pie underneath , with an usual tasting ketchup .

I know you know DNi only JV-ed with RGM because Mambare is a "Monster" ,but has always considered the management to be total buffoons Even with various DNi management changes over the years that opinion has never waived.

You have got to see this from a serious JVP perspective who don't come from a AIM list Management Mickey Mouse background .The JV understand they have signed and agreed to an exploration/works programme budget for the next 2 years and because they want to give the project the best chance of production in this next cycle .

1) New Road to the top of the plateau , (there wasn't even a road to the bottom the last time exploration took place , Zumore and I can remember photos of an investor field trip to PNG 9 years ago showing the investor/adventurer being whinged over the Mambare River by temporary metal cables.

Clearly things have moved on.

2) Ground Penetrating Radar over the plateau.

3) Interpretation of GPR

4) Mining Licence Application

5) Environmental Study

6) DFS

ETC

Thats all happened or is going to be completed in 2020, as is contractually bound.

The point you are missing is all of the above doesnt come cheap and the question is how much if any is RGM going to contribute to ?

Are we going to see another even larger placing immediately after consolidation to pay for all this ?

The JV contract when originally drawn out between DNi and RGM 30 Nov 2010 had a a 2 to 1 dilution mechanism .

Put simply DNI and RGM both put in £1M each at the start of the JV in 2010 equaling to 1 units per £1M to each party .

Imagine if the road to the top,GPR and DFS etc costed as little as £2M and RGM because they have completely lost everything on a coal gamble a year before couldn't afford to pay for their contactual obligations on Mambare?

No problem the work still goes ahead.

JV spend the whole £2M and so (2-1) gains 4 units plus their original 1 unit totalling 5 units . RGM spends nothing and maintains their original 1 units

Ttotal JV partners 5 units ( 83.33%) Dummy RGM 1 unit (16.6%)

Do these calc again using £3M or £4M which may or not be more realist and RGM share of the Mambare drops to single digits.

Are we witnessing another hat-trick of RGM own goals all over again ?

As always you just can't make this company up!

TD2

Agreed,

24TH July RNS

This DSO operation would consist of a relatively simply flow sheet with no processing plant, pipeline or tailings. As a result, this plan would be both environmentally friendly and uncontroversial in comparison with similar efforts in the region. A definitive feasibility study is planned covering this DSO operation following the conclusion of this year's work programme.

Partridge ,

" GPR walking is now, subject to JV funding". No funding, no work."

You are getting the JVP financial position confused with RGM financial position ,although technically RGM position will change slightly post 23rd Dec .

I can not stress enough this work programme absolutely has to be done and on time or they lose everything.

The JV can't not afford for their obligated 2019-2020 work programme to not be completed this time around ,they are already on their 2nd chance so unless they want to have the whole asset taken away from them they needed to do the GPR in September in order to remain on schedule the DFS in 2020 as they are also legally obligated to do.

As previously posted the JVP are not fools and fully understand the situation and what their contractual legal obligations are .

Zumore

"Bell says taking the next step at Mambare, moving towards feasibility, could cost between US$12 and US$20 million – or maybe less, depending on the route taken.

Bell says “Either way, we wouldn’t get much credit for doing that now, in this market."

You are exactly right ,Bell did say that ,but that was before the DSO proposal making what AB said then irrelavant i.e. the goal posts have most considerably since 2012.

"Booboo, I sense excitement from you regarding Mambare but I see RGM not dedicated to it"

Right again , they do seem very uncommitted towards Mambare , but again lets not get RGM lack of commitment confused to the JVP commitment , the JVP is no fool.
This work almost certainly would have taken place and completed before the rainy season so why haven't they announced the results ?

24th July 2019

"A work programme was put forward for the 2019-20 programme to the Mineral Resources Authority ("MRA") in Papua New Guinea. "

By the time this RNS Mambare update was released we were already well into this 2 year works programme consisting of 3 main objectives.

A) Road access to the top of the plateau. 2019

"To date, track and road clearing to support this effort has been largely completed with some bank cutting remaining. Spot gravelling and stump removal is scheduled for later this summer utilising heavier earth moving and bulldozer equipment."

B) GPR Ground penetrating Radar Sept 2019

"GPR walking is now, subject to JV funding, scheduled to start by September, with proposals from Canadian service providers under consideration. The current plans sent to the MRA include a revised ground penetrating radar ("GPR") work programme, estimated to complete in the second half of 2019."

C) DFS Definitive Feasibility Study 2020

" A definitive feasibility study is planned covering this DSO operation following the conclusion of this year's work programme. "

Unfortunately this exciting Mambare news got lost a little in bit at the time mainly because it was mixed inside the long awaited Strategic Review RNS ,but as Stephen has correctly pointed out many times , thats when he isn't counting up all of this weeks placing profits ,its all there in the announcements .

I think it would be fair to assume milestones A and B have been completed so presumably we now have a 3D interpretation map showing depth conductivity etc. of the plateau which will make exciting reading when it is announced .

With everything on course for C) a mining application and a successful DFS in 2020 everything appears to be nicely primed.

What is completely puzzling is as to why RGM have chosen to keep quiet about it when the best piece of news RGM have had in years is just sitting on their desks.

Well said Magic,yes all participates of the .0275p placing and Stephen is almost certainly one of them are netting themselves an easy 50% profit every time a mug punter buys in here @ .04p .

FACT.

RGM biggest asset is an electrical socket point somewhere in Liverpool which doesnt work cos someone has stolen the copper wire out of it.

With only 2% of the vote Andrew appears to have lost his deposit.

Hello Zumore,

24th July RNS

"Current plans sent to the MRA include a revised ground penetrating radar ("GPR") work programme, estimated to complete in the second half of 2019. To date, track and road clearing to support this effort has been largely completed with some bank cutting remaining. Spot gravelling and stump removal is scheduled for later this summer utilising heavier earth moving and bulldozer equipment. The two existing exploration camps have been put in good order and additional telecoms equipment is being installed. "

This is the last RGM Mambare update given to shareholders 5 months ago I can confirm all this work and a whole load more has indeed taken place.I as you know I have always been puzzled by the reference of stump removal ,bulldozers and stop gravelling but i have got it now .You would only go to the effort of cutting and removing tree stumps if you are building a road and I am guessing you would only be building a road if you wanted to demonstrate the feasibility of easy access for the trucks to transport the ore from the top of the plateau to the ports for shipping to a DNi treatment plant in Australia as part of a PFS.

I won't be at all surprised to hear at some stage soon lorry loads of Mambare plateau ore is shipped direct to the Perth DNi test plant for metallurgy testing .

Put simply there is no time to lose this could really happen, if you believe in making your own luck and to give yourself the best chance of making that happen you need to work hard to get everything in place and oven ready for when the commodity cycle turns ,if you don't then you'll miss the boat and lose a whole generation .

We all know Scott and the RGM team to be fools but the same can not be said of the JV partners , successful,organised and respected ,they have worked it out just like you and I have .They need to get on with it, full steam ahead with or without dummy RGM who clearly don't get it.The smart money would of course put all of the £800k raised into contributing towards the Mambare costs and not endlessly chasing new ventures ,but knowing RGM as we do its pretty obvious whats path they are going to take.

Whats puzzling me now is why there hasn't been a Mambare update for 5 months when there has been more activity there than at anytime in its history?

When we owned a phantom coal asset there were no end to the videos ,photos and "good old boys" shareholder field trips , but now after 7 years of nothingness real milestones are being crossed but little Scotties toy Drone camera is nowhere to be seen!

Personally I think you would have to be peaky blind to not realise that the battery energy storage business is going to become yet another one of RGM investment failures.

What experience do any of the management have with energy storage?What success have they had in the past in generating passive income?Is the poorest city in England likely to have electric cars anytime soon that haven't been stolen?

Post 23rd RGM is going to effectively become the most expensive shell on AIM that needs to shift 7 billion new shares on a load of unsuspecting mug punters,while still holding £760k worth of debts.

This is what happens if you invest in a company run by Jessica Spensers boy.

oh Betty!

Thats the plan.

Stephen ,please can you give me your investment case for new investors ,what is it that makes RGM such a good investment prospect for 2020?

Thanks in advance

Boo

Worth noting SFR SP is above $6 today.

Notification of Option over Debt:

The Company has further been informed by YA II PN Ltd and Riverfort Global Capital Limited that, following the subscription for the New Loan Notes, both parties have granted an option over their interests in the New Loan Notes, totalling £729,272, to C4 Energy Ltd ("C4"), a UK incorporated private company.

This C4 loan option equates to a further 2.7B based on £0000.275 making a grand TTotal of 11.3 Billion shares.Nice one Scottie.

When you think back 0.5 billion shares were issued just before this mass dilution just to keep RGM afloat while they tried to work out a way of getting out of this hell hole while simultaneously diluting the Stephen Pearce rebellion RGM style.Taking that into account we are looking at a 1100% dilution package.



Further Details of the Transaction:

The issuance of the Transaction Shares consisting of 3,021,818,173 Placing Shares, 530,030,036 Subscription Shares, 2,596,363,636 Promissory Conversion Shares and 1,022,229,140 Convertible Conversion Shares, 2,700,000 C4 loan option .

Riverfort Global Capital Limited and YA II PN Ltd, the participants in the Promissory Conversion, jointly held 19.93% in the past twelve months, and as such are deemed substantial shareholders during the last twelve months.

The partial conversion of the Promissory Note (the "Promissory Conversion Shares") will result in the issuance of 2,596,363,636 new ordinary shares of the Company, and the investors have agreed to lock up the Promissory Conversion Shares, 100% of the total for three months, 70% of the total shares for a subsequent six months, and 40% of the total shares of the Promissory Conversion Shares for a further six-month period.

Basically holders of these discounted £0.000275 shares know they only have a 3 month window to off load their shares before Riverfort start dumping too.

This recent hype is simply assisting the likes of Harry and Stephen to average down , buying at .00275p and selling at .004p on the back of your own "Stand by your beds this Sunday " ramp .Easy money , I suspect they are selling their old stock and replenishing their position post 23rd Dec.

"If by now you haven’t worked out the implications then let me spell it out. You’re starting a race with a handicap. You can never beat the corporate flippers because they have a 50% head start with access to the news flow. If today you were 20% down on your stake bought at 0.075p they would still be 30% up. It’s a race you can never win."

Professional Pumpers on an industrial scale boasting 3 consecutive multi-bag pumps .Well they clearly didn't do enough research and don't realise what they are up against.This is a highly trained and elite de-ramping team that have Samaritaned together with a 100% success rate for near on 7 years ,I think they have met their match this time.

RNS

Good luck tonight Andrew.