Member Info for MrMagic

What's happening?? LSE shows this 2% down!!

Come on people what are you thinking? Buy the god damn shares already.

Helpful, quick, post up some more Twitter links. That should sort it.

Like the £1m banked from 3 JMS share by-backs?

Like the £1m+ banked from Jupiter divi's

Like the £300k banked from selling 1.5m JMS shares (without RNS)

Where has all the cash gone ?!!!!

Same place it always goes. Any cash from POW will be no exception.

Mega fundraise inevitable imo.

DYOR

Yep POW fantastic. Lots of cash there for admin and expenses. Luvly jubbly.

C'mon people just buy the god damn shares will you!

Vaccines aren't going to solve the problems for the cruise industry. That's just a pipe dream. Even if people could be vaccinated today many still wouldn't get on a ship. Why? Because THE single biggest issue still exists which is what happens when a passenger or crew member presents with COVID? And that WILL happen. At present the situation still seems to be that all passengers would be confined to cabins, for goodness knows how long ala the Diamond Princess "death ship" catastrophe. That's an untenable position for cruisers.

Plus if you were personally positive for COVID and were having no major symptoms or difficulties (as 90% of people do) you would nevertheless likely be dumped off the ship and plonked into some hospital in whatever far flung country you happened to be docked in and left to recover and find your own way home. Having a vaccine doesn't necessarily stop you being a COVID carrier and testing positive.

In short the main issue still remains for the entire industry and it comes down to the negotiations between cruise lines and the controlling bodies like the CDC and WHO. They hold all the cards. They have the cruise lines by the short and curlies.

Until the cruise lines agree, in writing, to passengers that when there are cases of COVID on board they will treat it no differently to a case of Norovirus (i.e. only the infected person is quarantined to cabin and everyone else is left free) then it remains Game Over for the cruising industry. We are currently nowhere near that situation. This dilemma will go on for a long time.

Helpful - "what happened to the CLN conversion notices "

Thanks for the reminder. Yes. CLN's, people should be aware.

https://www.lse.co.uk/rns/RRR/renewal-of-convertible-loan-notes-0cgrfgdovblyfmk.html

"Holders of £830,000 principal value of Notes have to date applied to renew the Notes for twelve months to a new final redemption date of 19 December 2020, with an adjusted interest rate of 12% and an adjusted conversion price of 0.6p per Share. The Warrants of renewing Noteholders have been extended to expire on 19 December 2022, with an adjusted exercise price of 0.9p per Share. "

"The Notes were issued at par and are convertible into Shares at a price of 0.6 pence per Share. Each Note has a denomination of £1,000 and is thus convertible into 166,666 new Shares in the Company".

So £830,000 worth of CLNs can now be converted at any time which will result in many millions of shares being generated. I estimate some 150m shares, but worth checking yourself. One may as well treat the share as already having that additional number of shares, let alone any fundraising dilution coming down the line.

Plus there are a bunch of warrants sat at 0.9p as the RNS states. Doubtless the holders are itching for the SP to go North of here so they can be exercised for a tidy profit.

All it needs is naïve mugpunters to buy the shares. Note that the prime ramper here, Helpful, owns lots of those CLNs and warrants. So he has a vested interest in getting punters to buy here. Hence he spends every waking hour pumping the stock.

So come on people what are you waiting for? Just buy the god damn shares will you! These city boys need to make their money so just get on with it you turkeys. Buy the god damn shares now !!!

DYOR

Porridge - "I hope we still have some JMS shares. True to form, AB sold a bunch of them without letting anyone know last year. "

Yep, I'm afraid Bell has given himself a most dire reputation for treating shareholders with disdain and failing to RNS key transactions and events. How he is able to do that I just don't understand. Is AIM so badly regulated?

Bell failed to RNS loans and transactions conducted with Amulet Diamonds.

Bell failed to RNS a £1.1m loan to Steelmin

Bell failed to RNS Steelmin going into Administration despite RRR holding a 22% stake there.

Bell also sold 1.5m of the JMS shares without directly RNSing the fact and telling shareholders the reason

God knows what else has happened without being RNS'd !!

These are surely SP affecting events. How can they not be RNS'd?!!

The result is that you can not trust the BOD here and no-one can have any idea what other loans, transactions or events have been made behind shareholder's backs. You're effectively investing blind. You'll only get to find out in the Annual Report when it's too late.

It's a shocking state of affairs imo.

Uninvestable

But there will always be a few mini spikes on which a tiny few get lucky.

DYOR

Helpful- "Tshipi dividend declaration "

And straight into the RRR coffers it will go to be soaked up by Admin and expenses. No value to shareholders.
Not one single penny of any JMS share buy back or any JMS dividend has ever been passed onto shareholders here nor will ever will be imo.

Just gets rinsed through the lovely Admin and Expenses machine and gone in a poof. Over £1m was received from 3 share buy backs and over £1m received via dividends. Where is it all now? Poof gone !

Company stated it only had £139k in the bank as at 31st Dec which was 8 months ago. Laughable.

Admin running at £564k a year or £47,000 a month. Utterly preposterous.

That's where the bulk of the cash goes. No shareholder value.

It's also why none of the assets can be assessed at face value. As soon as any asset is liquidised the cash generated will be at the mercy of the Admin and expenses expenditure.

Over £16m cash raised here since 2012 by diluting shareholders. Over £12m frittered away on Admin and expenses.
Just unbelievable wastage.

It's a total crock imo. Just a "jam tomorrow" fantasy machine promising all manner of dreams but the reality is that all the riches go to the BOD via ridiculous salaries and are wasted on preposterous levels of spending on admin and expenses. The very definition of an AIM lifestyle venture imo.

Until and unless the BOD are removed nothing will ever change here. It's a sucker share for the naïve punters, always will be.

DYOR

@Ajaye

For years the annual reports have stated the staff as 4 execs and 1 admin

Assuming Rasa is not that Admin person and if SHE has been there 13 years why is she not listed in the reports?

Given to a "Corporate Affairs Manager"?

When was he appointed? I must have missed the RNS for that.

Like the RNS for Amulet Diamonds loans and transactions
Like the RNS for the £1.1m loan to Steelmin
Like the RNS stating Steelmin had gone bust

Same old.

Porridge - " I invested after Daniel Sklan refinanced the company."

Ah yes, former large 13%+ holder Daniel Sklan. Another one who learned the hard way how this company rolls. Sklan dumped his holding over a year ago and left these damning remarks here on LSE:

"After holding RRR shares for a considerable number of years and seeing my holding drop from over 13% to under 2% and value drop by over 90% due to the constant “fund raising” and issuing of new shares; I have finally had enough and sold all my shares. Let’s be honest - doesn’t matter how much money RRR receives it will always disappear paying "misc. expenses", directors salaries and investing in white elephants; sorry I meant Elephant Oil and various other ridiculous investments. I simply can’t understand how a business manages to plough through so much money with so little to show for it."

https://www.lse.co.uk/profiles/d_s_/

And another 13% holder, Peter Gyllenhammer recently dumped his shares too:

https://www.lse.co.uk/rns/RRR/holdings-in-company-4uj7219w6j9ycmu.html

And of course it should be noted that arch ramper Helpful here, owner of many of the £830,000 convertible loan notes, doesn't even hold a notifiable 3% holding. Spends all day ramping but doesn't want to be in a transparent position where everyone can see his buys and sells whilst he is ramping away. Interesting that James Asquith also reduced his holding last month so he is no longer notifiable.

This share has been diluting holders for years on end and has always had occasional spikes and GL to those who manage to profit from them. That doesn't alter the fact that the share is a POS, run by a BOD who have continued to take lucrative salaries despite yearly losses and a long trail of projects and ventures that are abject failures. £40m of losses posted since 2012. £16m cash raised by diluting shareholders. £12m cash frittered away on Admin and expenses. It's a POS any way you slice it perpetually pumped by city boy spivs who participate in the placings.

Funding is clearly an issue. There was only £139k in the bank as at 31st Dec 8 months ago and they were burning cash on Admin at £47,000 a month. I can only see mass confetti coming. Wouldn't want to be left holding the baby when that happens personally.

DYOR

Worth a reminder of this I feel:

Yearly losses incurred by RRR, amounts of cash raised via confetti issues and CLNs etc and amounts fritters on Admin

2012 - Loss of £1,962,882 --- Cash raised £4,441,844 - Admin £2,275,786
2013 - Loss of £22,105,562 -- Cash raised £4,103,795 - Admin £4,751,948
2014 - Loss of £4,113,460 --- Cash raised £2,723,861 - Admin £1,563,808
2015 - Loss of £8,411,541 --- Cash raised £2,327,377 - Admin £1,334,404
2016 - Loss of £283,280 ----- Cash raised £1,155,323 - Admin £758,351
2017 - Loss of £1,114,213 --- Cash raised £300,000 --- Admin £644,688
2018 - Profit £78,120 ------- Cash raised £421,668 --- Admin £849,518
2019 - Loss of £1,723,881 --- Cash raised £853,089 --- Admin £591,777

Total Losses above - £39,792,939
Total Cash Raised - £16,326,957
Total Admin - £12,770,280

Speaks for itself. £40m gone. £16m+ raised by brutally diluting shareholders here and over £12m frittered on Admin.
SP utterly decimated along the way, the recent token rise notwithstanding. It's a typical AIM lifestyle venture imo.

Nothing will ever change imo

DYOR

lol Helpful, same old ramping spiel, the past doesn't matter !! Who do you think you are kidding ?!!!!

Of course it matters. The whole reason RRR had to go through years of legals is because the Ministry revoked the licenses. The reasons why they wanted to revoke is very obviously relevant here. It will surely have a bearing on any Mining License application they submit. I don't personally believe they will get any mining license for the 2 PL areas but people can believe what they will.

Section 101 of the Mining Act currently has no relevance here. It concerns Mining Licenses.

Section 72 applies which is the section that covers Prospecting Licenses.

No gold going anywhere while ever all they have is a Prospecting License.

DYOR

According to the news articles Migori held those licenses for 26 years and in all that time never progressed them hence the licenses were terminated. Now the licenses have been reinstated after long legal actions but it makes no difference. They did naff all with the licenses in all those years holding them so they have merely gotten back to that same position. If the areas were worth mining they would have gotten mining licenses years and years ago and started production. But they didn't. All those years all they just did was a bit of exploration to get the JORC.

People should read this news article from Feb 2017:

"Row over permits robs Migori gold of its glitter"

https://nation.africa/business/Row-over-permits-robs-Migori-gold-of-its-glitter/996-3829916-5t3ec6z/index.html

Amongst other things it states that the licenses are on ancestral land. But regardless, reading through the statements of the Ministry and their sentiments towards Migori it really doesn't seem likely to me that they would award any Mining Licenses imo. It reads to me like the license terminations were originally conducted without due legal process and that is why the legal battle ensued which RRR eventually won. This doesn't in any shape or form alter the fact that the Ministry clearly wanted to revoke the licenses and were unhappy. That surely remains a key problem. No mining license, no production, no gold. Helpful as always is selling pipe dreams to the naïve. He owns many of the £830,000 worth of CLNs here which are now able to be converted at 0.6p.

RRR needs to find £millions now that the licenses have been reinstated (see Zumore's earlier posts). RRR only had £139k in the bank as at 31st Dec and was burning cash on Admin at the rate of £47,000 a month. Mega dilution is imo totally inevitable now and/or a mass sell off of the "crown jewels" Jupiter shares.

Either way the SP will fall like a brick here when that happens imo.

DYOR

Stop trying to bully people SL You're fooling no-one here. You don't even have the confidence or transparency to hold a notifiable 3% here. Get yourself 3%, declare it and then people can see whether you're "holding for full value" or not. I very seriously doubt it myself. I suspect you are buying and selling all the time whilst ramping but it's matterless. You're just a lackey stock promoter spending all his time on a chat board instead of sitting back and "holding for value".

£47,000 a month on Admin doesn't spend itself ! Takes effort to get through it you know. Bit like Brewster's Millions.

Share going nowhere here. Just waiting for holders of the £830,000 worth of Convertible Loan Notes to get on and convert at the conversion price of 0.6p. Dilution waiting to happen, might as well just get it over with imo.

Still ramping

Still doesn't hold even 3% though

£37k appears from yesterday morning. What a total joke.

Barge pole share for me

DYOR

Dreamseller - "The tailings can be brought into production pretty quickly once a mining license is agreed"

Yet the company has sat on those tailings for countless years and never got a mining license during that time. You're selling dreams and fantasies just like AB and you still don't even hold a notifiable 3% here for all your posturing and bravado. You just want the freedom to constantly buy and sell without readers knowing when you are doing it, whilst you ramp away. Very shallow stuff. If you really believed in all the BS you post you'd have AT LEAST a 3% holding here.

DYOR

Reg - "Cannot see that RNS Zubore"

Not difficult to find Reg. I'll save Zu the bother of digging it out:

"Soil sampling, where matching funds from the territory may be available, will be possible from June 2019, when the ground is free of snow, and any drilling will then follow over the long winter season."

https://www.lse.co.uk/rns/RGM/interest-in-north-american-vanadium-project-o8pp6m90bbzjv3u.html

One must remember that this share is simply the awful Regency Mines desperately renamed to Corcel to try and distance itself from its horrible track record of yearly losses and industrial levels of dilution. It won't work of course. Markets are not stupid. Put a pig in a jacket and it still goes "oink"!

The proper list of past RNSs can be found here:

https://www.lse.co.uk/rns/RGM/

DYOR

I notice another late reported sell popped up. £24k sell @ 0.72p from Friday.
Nothing here can be trusted or taken at face value imo.

Staying well clear of this POS

DYOR