Member Info for briarbank

Mr Magic I endorse All of your rather long posts , submitted at 14.43 .
All factually correct. That said , there is more under the counter actions that should have been RNS'd to PI's. Like the selling by AB of more JMS shares, ca. 8m to May '20. How many since Which also reduces the divi paid tice a year. You forgot too mention RRR buying 5% of Elephant Oil (Oil explorer in West Africa ) . RRR buying mineral exploration in the Ivory Coast. All the current projects need money. And current loans inc. YA Global charge very high interest , 25% before now. The amounts borrowed have not ben RNS either. RRR sold over 40m of JMS for less than £2m to pay a Global loan, in 2013(5
July). And RRR spent all the $6m , for Greenland exp. , raised by selling half of Mt. Ida royalties. I too have missed out more abject failures. And yes if AB resigned this SP would rocket....................

Taken from ADVFN ............RRR had over 17m in the spring..........Any left?
Wow ! Only 9,524,914 Jupiter shares left and that was at 18th May 2020 according to Jupiter Annual Report (pg 80)! Https://www.jupitermines.com/cproot/967/3/20200527%20Jupiter%20Mines%202020%20Annual%20Report.pdf Good spot Noirua Bell has clearly been pawning away in the background Lots of value lost imho. How much of the proceeds went to salaries, admin and expenses? DYOR

I forsee a problem. with this part of licence submission...

"whether the applicant is fit and proper plus does it have adequate resources to do something useful with the license(s"
RRR has overstretched it's commitments............Money, money, money ....

Unless RRR sell remainder of JMS stock, I cannot see how they can afford the staff , drilling equipment etc. in Australia. And be able to do the same now in Kenya. As ministry of Mines has only granted exploration licences with similar proviso that RRR has resources to undertake a new drilling program...........................AND not forgetting another exploration prog. has to funded in DRC...................

Yesterday's RNS states Jupiter holding is now only worth AUD 3.8m Shares are currently AUD 0.28 according to ASX That would suggest there are now only 13.5m shares There were 17.02m in April so the holding appears to have been reduced by 20% And for what? To pay salaries and expenses? or to fund something else? Either way . . . . poor for shareholders imho DYOR
ref. ADVFN

For small caps. on AIM the difference is relatively wide. For example just look back for GNP , the diff. is usually ca. 0.3p or even 0.5p.............................BUT LOOK AT IT NOW IN REAAL TIME MM's ASK 8.5p and the BID 0.1P.

Conclusions ...........? The Market wants your shares, giving a "good" price.

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placed order at 15.59

Unable to buy more than 10000....................tried 50k down to 10000
And only then allowed to place order.

MM's short of stock? Or big order being filled

Whops...................I should have written GDP............not GDR

Best advice, look back as far as you want to. The recent bubble has burst....................Look for a minor Gold miner such as GDR which is already profitable.

And not forgetting outstanding CLN's and their 12% interest charges

I am ready to admit that RRR appears to have got off it's a** and appears to have lots going for it again at long last.

But saying that reactivating Migori exploration, DRC surveys, Victoria licenses, office for RRAL, etc, means employing staff, equipment , and still having to buy out previous Kenyan JV Kinsai £2.5m + in ca. 2/3 weeks time, etc.... and no mention of Jupiter shares left.

Requires more placings ................................much more to continue momentum.

To CPFC84 I agree every word..............and lost more.

colinH100
Ans to your Qn.................a definitive yes. RNS's not always.
As RRR had a material 22% of Steelmin and a £1.2m loan/gift , it doesn't mattter which. As it was lost anyway. Investorso only found when researching Company's House.
Fictitious JV's eg. Melvile Bugt Greenland. Spent over £6m to get a JORC for Fe, over 2 seasons. Sold to Alba for £1.

Spent over £10m Au exploration in Kenya. Licences only returned after 5 years..............legal fees never disclosed. Probably hidden in Annual Report. RRR Still owe £2.5m Kansai previous owner of icences. Payable by\early Nov.

JMS shares...........sold, a material importance to RRR. Rarely quoted in RNS. The only info.given is total value. PI's have to work backwards to see how many more sold.

And there is more.................another day.

AB hadn't given over £1m to Steelmin just before it went into admin. He wouldn't have to submit that RNS yesterday.

Can buy now at 0.895

AB back to true form.

wrt your Sat post at 12.33 outlining RRR 's costs...............yes I could prevaricate all day on this. New investors, this year haven't a clue. And don't care as long as the SP rises.
But I was shocked to find out that the Kenyan Gov. charge a royalty on every Gold oz produced at 28%.
But that is probably years away for RRR to worry about. They have to secure a mining licence. And build a plant, or get a 3rd partY to extract the gold from the ore. eg. existing miner in Keynya is Goldplat (GDP)

Jupiter shares held by RRR . AB hasn't released how many sold for ages.............it was ca. 17.2m, then ca. 15m +, now 14m.
Calc. based on RRR 's RNS.Tweets, A$ worth, and SP at time.
9CAC.

I thought all AB's shares in POW were effectvely RRR , Like JMS. They are clearly not............
AB sold and bought POW shares to put in his pension pot. £17.76k.#
POW RNS "The transactions represent a transfer of 1,480,000 from Mr Bell's personal share account into his Self Invested Personal Pension ("SIPP") and the acquisition of a further 1,877 shares."

RRR splashing the cash in...........
Victoria Licenses, professional reports etc.
Kenya Migori Licences and payouts to previous partner Kinsai $2.5m within 6weeks and more.
and much more...........eg. salaries, flights, rent etc.

Only source is remnants of JMS.