Member Info for booboobooboo

Though the added expense with Mining equity trust is that they have to lease the two highwallers. So you would imagine those lease costs would be incredibly expensive (does anyone know highwaller lease costs?) and that of course would make potential profits even tighter.

Plant hire in my experience is normally 50% of the cost to buy new divided by 52 weeks i.e. if the hihgwaller costs $6m to buy the hire cost will be $3m /52 weeks approx $55k per highwaller per week plus fuel ,plus insurance ,plus labour.

Do you remember that £200k CZN sell last month ,well imagining that was RGM selling down cos its hard to imagine it wasn't and I think its fair to say pretty much all the ALBA have gone too.

So that doesn't leave a lot of liquidity available to Scotty and Andrew ,about £100k in CZN to be precise and then all the money has run dry.

Do you have the feeling theres going to be a PLACING very soon cos we appear to be running on thin air?

The more I think about it the more snookered I see the RGM position as being.

Why would our Mambare individual JV partners give up their ownership just because Scott and Andrew have asked for it back,on what grounds?

The next spend there is going to need to be in the region of $30M.

You can't request your partner to give up their share on the grounds they haven't got $15m to spend on it when you haven't got to pennies to rub together yourself.

That's an absolutely ridiculous statement MagicMan !
Regency should be part of a well diversified portfolio of penny shares -just as one should spread the risk over a number of different shares with their standard portfolio.

Excluding Mambare ,none of the RGM portfolio is more than 2 years old .

So thats 14 years and more than £30 million to build a diverse investment portfolio ,

Schnapps ,if you don't like debate and don't like the answers you are getting why don't you just tell us your valuation for Mambare instead and put us all out of our misery .

ps

if they can turn the ship around depending on the spend will determine the volume of confetti .

LOL Schitzelman to answer your question it doesnt matter if Mmabare was worth $3 Trillion if you have accumulated debts ,overheads ,cash burns and liabilities mounting in excess of $3,5m and you can't turn the ship around in time then there is a real risk of the ship actually sinking .

Joe ,those events showed PJ for what he really is a total snide .

Schitzelmaster the point you keep missing and my question to you is ......

What happenings if Cedar Bluff doesnt reach critical mass in the next few months?

Bell wants to get rid of our present JV partners so he can attempt to float Mambare under "battery metals" inc our white car investment ,at least thats what I am thinking reading between the line.

The real question is how much money have we got left ,can we hold out for LH to turn Cedar Bluff around?

RGM is a huge gamble ATM debt,debt payments and everyday running costs come in at around $3.5M and RGM only have one real source of income to pay this all off with.

I am very concerned ATM cos $3.5M is somewhere near 70% of our capital cap t,he last time that happened it finished with a 20 -1 share consolidation.

So much for that 2.8p solid support shelf.

its lucky the placing Sprott shares came with a 5p warrant as a sweetener or there would be a risk of their clients walking away before the 31st August deadline .

Personally I find it interesting that a potential £6M pay cheque will be arriving at exactly the same time as the AEM and the EMP in September ,or was that always the plan .

"The failure of the DNi group to list - they were always unrealistic on pricing - doomed them in the downturn. Now they are barely alive. But they do yet live."

Morning Andrew ,your need after more than 8 year to still try and prove your strategy was right and DNi's was wrong suggests to me one of your biggest critics who gave you the nickname of "dreamseller" former CEO of DNi and lawyer Russell Debney might be one of those individuals who took on Mambare,if this is the case then you might have bit of a fight on your hands.

Its also worth pointing out that under your stewardship during that same doomie downturn period you needed to dilute the hell of your shareholders 20 to 1 and 25 to 1 at RRR or both your companies would have failed too.

As you know but choose to not announce and inform shareholders DNi Projects used to own 50% but now only holds 10% and a few of their former employee own the remaining 40% in return for Projects bearing no further costs.

So RGM want to take legal action now against their mystery JV partner .

The combined brain strength of Andrew and Scott got them into this mess by allowing normal income individuals to JV with them in the first place knowing $10M plus was going to needed to take Mambare to the next stage.

These individuals will have funded what would have been DNi's commitment since 2010 so I can't see them giving up that easily ,their argument I am guessing would be to JV a 3rd partner in,if Bell doesnt like that then thats is his own fault for inviting them in.

Its hard to see RGM legal argument cos the contract already has a dilutionary act in place from memory at 2 to 1 .

I do feel slight vindicated cos i have been telling everyone DNI Ltd are no longer our JV partners for a long time now and I have had to put up with a lot of personal abuse from a lot of people that are old enough to know better.

LOL

Louis, That would be great news ,when we start get results coming in every week or 2 i will be delighted.

Very interesting interview thanks

Chesh

we are 2 months into drilling and we have managed 6 holes and only one of those has been reported,so that isn't zero you are right but it is almost zero.

Joe, starting for zero as we are (with the exception of T1 -T3 underground) is going to take 2 years to get anything to SS completion .

https://soundcloud.com/harry-christoforou/us-coal-and-company-update

Warrior Stephen your video contradicts Harry interview, please listen 8 minutes in .