Member Info for booboobooboo

GPR walking is now, subject to JV funding, scheduled to start by September.

I am sure VS has got his share of the exploration costs but what about RGM?

We really need to be seen to be doing something or the asset will be taken away , make dilution here inevitable .

RGM biggest investment to date has been delivering from Nov monthly revenues of between $900k to $500k each month to April.

But in May it drops to $300k and June even further making only $177k from just 5400 tonnes of sales .Total revenue for the first 6 months of trading this years was only $3.5m a far cry from what we were lead to believe, $36M pa.

Of course we now realise MET Coal was a time bomb waiting to go off.........with the timer set to Oct 2020.

BANG!

Concurrent with the new investment in MET was the execution of a forbearance agreement between the sellers of the Omega coal asset and MET to repay the $8.17m of outstanding loan note obligations over the period to October 2020. This agreement delineates a revised payment schedule of all outstanding obligations to the Omega sellers, with the majority of the residual amounts now deferred until 2020. However, the forbearance agreement is now in default following delays in delivery of the CCL funding associated with this agreement, which was originally targeted for May 2019.

SuhailM 3rd Sept "I bought an initial block this morning and pending further research."

Purchased 3rd Sept 10.03 am 1867981 shares @ 0.066p

Sold today 10.30 am 18677981 shares @ 0.060p

Total loss £110 on investment .

SuhailM It might not look like it or even feel like it but by RGM investment standards you are actually a winner!

Scott Christopher Kaintz has got 14 million shares in RGM ,thats only £8,000 of his own money on the table and most of those shares he got for free as part of the companies annual share incentive plan.Thats £3,000 less than his directors holding in CZN.

Todays 08:03:34 0.0742 663,746 Buy* 492.50 buy is already 33% down in less than 4 hours,it won't be long before that purchase joins the 90% down RGM club which is where most RGM investments finish.

Sudan no more, Rosa no more ,Met Coal no more, White car no more ,however debt,liabilities ,zero in the bank and £800k pa admin cost continue .

Worth noting :

We are now on a journey of mass dilution for years to come to pay back the loans taken out to purchase assets that no longer exist.

With less than 2 ha'pennys to rub together the next piece of news is going to be mass dilution .

Just £300k in a placing would result in 30% dilution to existing shareholders , £500k = 50% etc.

With yet another flagship asset down the swanny and less than tuppence ha'penny in the bank , we should expect the expected with a large showering of confetti very soon.

Twitter account only follow 2 users

1 is (new account ) Omega Union and the other Harry AIM

lol

MET Coal /Omega went from Flagship asset to non-core asset post the companies business strategy last month .I guess it would now be reasonable to assume the asset has gone or is about to go the same way as White Car.

The workers not getting paid was always going to happen eventually when you think about it , cos lets face it a $750k new partner cash injection was never going to be enough to cover even RGM commitments at that time . I am afraid all they managed to do here was turn a successful mine into a failure almost instantly , theres a reason why they are commonly referred to as the 2 most dangerous individuals you are ever likely to meet.

After their last coal mining venture/failure at Rosa Mine , this was their big ,big chance to prove to everyone and their critics they weren't the pair of utter useless ****s we all think they are , but they failed at that as well......

If you were to disbelieve everything those 2 have ever said to you ,you would be right more times than wrong.We are now on a journey of mass dilution for years to come to pay back the loans taken out to purchase assets that no longer exist.

You just can't make this company up....

Just imagine if the Conservatives don't deliver on Brexit he could become an MP for the Brexit party.

If the Brexit Party only win one seat and its Buckingham , then he will become the Brexit Party Leader.

LOL

Starting to look like Andrew might have a really good chance of following in his fathers foot steps and making history all at the same time!

Breaching convention, the party plans to oppose Mr Bercow in his Buckingham constituency at the next election.
Formerly a Tory, Mr Bercow gave up his party affiliation when he took on the impartial role.
As the highest authority in the House of Commons, the Speaker chairs MPs' debates.
In order to be impartial, the Speaker resigns from their party, and - while they still stand in general elections - they are usually unopposed by the main parties, and they do not campaign on political issues.
But Ms Leadsom - who has clashed with Mr Bercow in the past - said the Tories would ignore this convention and stand against him at the next election.

People of Buckingham now have 2 reasons to not vote for Brexit.

As always, you just can't make this company up....

RGM would need to spent a further $30M to get to the same stage HZM are presently at today.Also HZM own 100% and not 50% , have $25M in the bank and not debts and liabilities 4 times their value and not forgetting another major difference is Brazil have this thing called a ROAD....

Taken from an previous thread made by Mr Magic , Zumore then points out these were figures for just one loan , RGM has a second loan too .

5 years @ 10% pa is another 50% in interest so the total to be repayed is around $1,906,080 or £1.5m in real money by my reckoning.

The more worrying aspect is that, as per an earlier RNS, this news simply promises shareholders a shed load of placings to keep the company running. Anyone putting their hard earned in here can be under absolutely no allusion about the coming dilution. The company has been as open about its intentions as it can be. Confetti is coming, lots of it.

If they could place shares at todays 0.055p I make it about 2.7 BILLION more shares. That of course would be unrealistic imo as with every placing there is usually a discount and with each successive placing I would personally expect the SP to fall lower so progressive placings will be done at ever lower prices. The finally tally could be 3 to 4 billion more shares imo.

There are currently 1.5 billion in issue.

Why would I invest money here to just get diluted and esp when the money raised is in part just going to be used to pay off loans as well as likely contribute to working cap (director salaries and admin expenses etc) ???

What is needed is an RNS stating that the greedy BOD will cease this lifestyle gravy train and take all salary in the form of shares and curtail admin expenses and options ?? Unless they do I don't see any investment opportunity here. SP only going one way.

They look like lots of my favourite Quality Streets.

Hopefully we are going to be reading more details on the Cobre asset and deal confirmation very shortly.

Its not just liquidity NAV thats not being included in todays SP, its overall assets too.

Worth noting that even if you were to buy in at todays new low you would still find yourself joining the 90% down club very quickly.

RGM only have one source of income to pay for their loans/liabilities,debts,salaries,exploration etc which comes to many times their present valuation.