Member Info for booboobooboo

Wheres all the money gone?

£3.1M raised ,£250,000 spent on coal, where has the rest of the money gone?

Makes you wonder if £250,000 was the original investment in the coal assets with no further capital until it is up and running what happened to the $1,000,000 loan money and why was it needed in the first place?

LOL

Anyone seen one?

Zumore, yes i am afraid its going to get messy.

This will finish exactly the same way all Andrew Bells Fairy tales all end.

Anyone seen that highwaller?

zumore, yes shockingly having just paid $350k off their debts they now owe $24k more than they originally got their hands on immediately after taking out the loan in the first place . 5 April 2017 Regency Mines plc announces that it has raised an unsecured US$1,000,000 ($900,000 net of fee) one year convertible loan bearing interest at 12% (the "Loan"). The lender is YA II PN, Ltd, a company incorporated in the Cayman Islands (the "Lender").

Basically, the UKOG will all be going to towards a $1m loan taken out to progress a new coal asset that never happened and never will.

But any further repayments will equal to $924k owed.

Agreed $770k owed still

Magic i thought there was a 20% penalty for cash repayment.

RGM shareholders sold out in anticipation of a Yorkville dump that was never happening ,we are now sitting at 0.6p (half what the sp was) and still owe York $850,000.

Another way of looking at todays news is our UKOG windfall is going to be used to pay off a 20% interest loan taken out to move into coal that never actually happened.

The problem is $4.4M is too much for RRR to pay off.I will eat my pants if that steel works ever gets off the ground cos you have to ask yourself how did their new partner get into such a mess to find themselves in a position to give a large portion of their asset away to an exploration company with no experience ,they obviously have struggled to get this far . RRR are going to end up with 30% of a millstone thats going to need even more money thrown at it later

Interesting, thing could get very messy then RRR have gone a spent a shed load of money they haven't got at crazy high interest rates

Are u not expecting a Jupiter liquidity moment then?

The true is RGM has become an Alabama coal story which has never progressed and doesn't look very likely to either.One thing i have learnt about Bell is he is very good at finding new suckers to take in including someone that should know better ,PJ. It is RRR shareholders i feel sorry for because when that steel works project he has got them into goes wrong they are going to end up with 30 % of something that doesn't work while still holding huge debts along with huge interest rate.

Have we got enough money now to buy our own highwaller?