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Its a long death , but it is still happening .I predict a SP buckling as inevitibly 2,000,000,000 new shares enter the market between now and loan repayment day in 12 months time.

The ultimate question is will RGM remain a going concern during 2019 ,or are we reading too much into the reasoning for Andrew attempt to jump ship?

Does anyone know why this important meeting was adjourned?

We first started mining coal on the 2nd of August 6 months and 5 days ago and still we have no idea about profits.

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

Wage costs have been reduced by a reduction in manpower and in overtime as a result of the new shift pattern, from $200,000 per two weeks to $120,000 per two weeks. The Kilgore location is approximately 25 miles closer to the main customer, enabling significant savings in trucking costs and gross margins. MET has reduced Omega's breakeven production level to about 1,000 tons per working day.

Has is crossed anyones mind that a 40% drop in weekly salaries might have something to do with Omegas bank not releasing the funds .We might have scrapped together $2m to pay for 47% of Met Coal but how are we paying salaries etc when faced with shutdowns and production shortfalls?

At least the Kilgore location offers one H/W a 31,000 tonnes a month B/E target although it hasn't been disclosed where the other H/W is located and what its B/E figures are yet

Andrew and Scott both say they are very positive for 2019, but I think we all know what 2 positives make.

Patience Grasshopper...........although we are all hoping desperately that it isn't Grasshopper!

I agree ,I think its best to wait rather than waste time speculating.

This is Highwaller to be used at Rosa and now on site (video not taken at Rosa). Now optimised further, ready to go!

https://twitter.com/Regency_Mines/status/847412259391275009

Video made from Scotts Vimeo account

https://vimeo.com/210747551

A £40M windfall would make any risk of dilution a thing of the past.

MTR will still retain the 30% share of the exploration JV. Then add KML, THR, GGP, KEMCO, VETA, PAN Asia, spain and cash...

Plus a T3 royalty ,$2M.

Metal Tiger said it has invested around £3.8m in the T3 joint venture and this deal will allow it to maintain its exposure without the requirement to contribute to mine construction costs while keeping an interest in the further exploration.

.

Magic ,don't forget about the $50,000 monthly repayments as of May 2019 and additional directors salary costs and perks.

"From May 2019 to February 2020 Regency will make monthly payments of principal and interest amounting to US$50,000 per month;"

A $1,600,000 loan is set to grow into a $2,400,000 loan within 16 months from here.

We have effectively taken out 675 loan notes to pay off a portion of our debts increasing our overall indebtedness from $1.6M to $1.9M.

"Conversion may take place at any time up to the final redemption date of 30 May 2020."

So we have £675,000 of new loan notes that may or may not be converted ,12.5% interest to be paid in the meantime and It is entirely possible the loan will need to be paid back in cash if not converted 30 May 2020.

Fees ,5% = $80,000 , extension $20,000, restructuring $156,000 TTotal = $256,000

A $580,000 repayment will be made following execution of the Deed, of which $500,000 will then be subscribed by the Lenders for 395 of the Tranche 1 Notes at a cost of £395,000;

So we have gone from a $1,600,000 loan to paying off $580,000 taking us to a $1,020,000 loan ,with interests and fees covered by confetti plus £675,000 of loan notes on top that may not be converted.

Total loans

$1,020,000 @ 12.5% interest

$880,000 @ 12.5% interest (£675,000 loan notes )

Total loans now stands at $1,900,000 from $1,600,000 ,annual cost to service the interest due $244,000 pa.

Interest already paid $256,000

Total cost of loans up to 2020 = $2,400,000

Its hard to believe shareholders are still waiting for Nov and Dec coal revenues figures having been told and promised by the company that a profit forecast will be arriving before the end of the year.

Every day that passes adds a further £2,000 in interests, on top of this if we don't spend a substantial amount on Mambare this year we have been told by the PNG authorises our flagship asset will be taken away from us so there a real need to be seen to be doing something there this dry season.

Add to all this another years admin costs ,a new Vanadium project and the repaying of a short term RRR loan (speculative) and you can see we are well and truly in a pickle .

I can't for the life of me see how the hell they are going to be able to worm their way out of it this time around without heavily diluting the HELL out of all the shareholders they have been deceiving and lying to over the last 2 years since the last 20:1 consolidation.

Nice one ,has anyone got a link to Scotties classic HW video ?

Very good point Flows,

RNS 27 March 2017 below (Looking back its hard to believe we lost £2M on a coal project for 20% exposure with absolutely nothing to show for it just a few months later .)

Highwaller contractor on site and ready to start coal operations



Andrew Bell, Chairman of Regency Mines, comments: "Progress has continued, with necessary adjustments to the permits to enable use of a higher capacity drilling method creating only minor slippage in our timings. We expect sales and movements off site of mined coal in early April; we may achieve (but may just miss) our more ambitious target of first mined production by the end of March. This is a great milestone for us, and further announcements will be made as we bring the mine on stream".

One month and one SK Twitter HW video later 20 April 2017

Key Highlights: ROSA MINE

All permits and approvals now received, including Mining Plan extension allowing use of highwall miner instead of auger drill

Final preparatory work in progress including facing-off of initial face, sampling, widening of access road

Highwall contractor to start coal operations imminently

Initial offtakes on rolling one month contracts, with 7 day payment, until stable production achieved

Vali Carbon Corporation

Permitted and bonded area already held for strip mining and auger mining of the Lower Banner seam

Planned permit revision and amendments under way to add near term strip and highwall mining while further permits elsewhere in license are processed

Stripping under way and mobile plant being brought to site for immediate production

Mining Plan permits increase in stages to 100,000 tpm production

50,000 tpm offtake contract under negotiation

Infrastructure including 500 tph wash plant and railway siding with 10,000 ton twin hopper allowing loading of 110 wagon trains to be recommissioned during 2017

Andrew Bell, Chairman, comments: "The environment continues to improve for the coal sector and as early movers and with offtakes available we and our partners continue our high speed drive towards production at both projects".

RGM showing endeavour to make 2019 a good year. I anticipate imminent news on JV arrangement with Legacy hill and clarity on the loan agreement announced to market in June 2017. Regency holds a 47% stake of Coal operations in Virginia.

Brutal will be the word to use ,you have to ask yourself why can't others see it coming and the answer has to be cos the company privately are telling their shareholders a different story ,but as we both know if its not in a RNS don't believe a word they say.

Presumably the next AGM will need to include the option for "X" amount of billions of shares to be issue for the coming year?

We are all praying at this end coal profits begin to become a reality .

Zumore,that is exactly right , RM last dilutionary event was on the 24th of Jan nearly a whole year ago ,thats the longest period in the companies 14 year history.

£4,000 @ 0.33p is a casino gamble IMO, the next piece of news will be decisive.

Today investment could easily be worth less than £1000 by the end of the month.

Its quite simple ,no news, equals ,no profits ,equals ,no way of paying back the huge expired £1.5m loan .

On top of that we are going to need around £600k admin , £500k we have unofficially borrowed from RRR to create the allusion of solvency(my personal speculative opinion) ,£500k min Mambare exploration for next year or have the licence removed ,£250k Vanadium investment (estimated amount ).

Eye watering amounts of money we haven't got but will need to find soon in order to remain a going concern.