Member Info for MrMagic

For years the directors of Jupiter had no direct skin in the game as was stated in the annual reports.
Gilberston held shares via Pallinghurst, Bell via RRR and others via POSCO. For a long time only 2 of the 5-6 directors had direct shares.

It was always a glaring problem imo. It looked bad. If they are wanting to present themselves to the markets to try and list projects then of course it makes sense that they are seen to have skin in the game. Same with all companies.

Either way this is Jupiter not RRR.

As already highlighted, not a single penny of any Jupiter share buy-back monies or any Jupiter dividend here have ever been passed to shareholders. The £millions went into the RRR coffers and are gobbled up by Admin and expenses in no small part. You're still trying to pull the wool over people's eyes here. Cash into RRR coffers does not equate to success for shareholders here. It pays the BOD lucrative salaries and the crazy admin and expenses.

This company has raised over £16m cash since 2012. Where the hell is all that money now???

Why doesn't the company sit with at least a £16m MCAP or even a £10m MCAP? Answer because the money is frittered on Admin and expenses and numerous failed projects. The company has incurred losses of some £40m since 2012. It's a total joke imo.

Only locked in desperados such as yourself pump this habitually for your own ends.

You need the SP to reach 0.6p so that you can convert the many Convertible Loan Notes you hold. CLNs which have been rolled over for a 3rd consecutive year. Why would a significant holder who believes in the prospects spend all his time ramping on chat boards????

Nuff said

DYOR

Oh dear

Helpful is getting desperate again and trying to ramp the JMS angle for the umpteenth time. Sad to see.

JMS divi's :

"After payment of an interim dividend earlier in the year of 4 Australian cents per share, Jupiter has declared a final dividend of 0.75 cents per share. "
https://www.lse.co.uk/rns/RRR/jupiter-preliminary-results-and-dividend-declared-yb2yv4rkqpacdxx.html

Regardless not a single penny of any Jupiter dividend has ever been passed onto shareholders here. Like every other bit of precious cash it gets exposed to the preposterous levels of admin and expenses that the BOD get through each year. So it's inherent value is sapped away.

Half Year report stated Admin for just 6 months was £282,000 equiv to £564,000 a year
Project and exploration expenses were stated as £132,000 for 6 months

Laughably £97,000 of that was classed as Other Project Expenses for Greenland !!!!
Greenland was sold off years ago for just £1
https://www.lse.co.uk/rns/RRR/half-year-report-8hiadp3rx2qe9re.html

Regardless it's plain to see where the lion's share of any cash ends up and why shareholder value seeps away.

£16m cash was raised by placings and the like from 2012 to 2019 and over £12m was spent on Admin and expenses in the same period. What a total joke !!

As for Mt Ida, the project was mothballed by Jupiter back in 2012 where it has remained ever since. There is no production and thus no royalty. This will remain the case for many years imo.

You persist with this sleight of hand "sum of the assets" BS valuation rhetoric which you've been trying to flog here for years. It's BS because it always ignores the inordinate amounts of cash that the BOD fritter on Admin and Expenses. If RRR received £2m cash tomorrow it would make no tangible difference here because most of it would end up spent on Admin and expenses.

Amounts Expended on Admin and Expenses
=====================================

2012 - £2,275,786
2013 - £4,751,948
2014 - £1,563,808
2015 - £1,334,404
2016 - £758,351
2017 - £644,688
2018 - £849,518
2019 - £591,777

Bell's Salary & Emoluments
=======================

2012 - £221,729
2013 - £154,746
2014 - £139,008
2015 - £91,495
2016 - £126,661
2017 - £155,243
2018 - £142,965
2019 - £119,406

Your ramping here is simply embarrassing

DYOR

vbeckers - "Magic if I remember correctly there was a large holder named DS long ago. I could be wrong but I dont think he had any love for AB after a while as well... "

Yep, one Daniel Sklan

Former 13%+ holder who dumped his remaining shares and left these damning comments on LSE:

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

Now 13% holder Peter Gyllenhammer has also dumped his shares. Last reported at 2.84% on 10th July and likely completely out now.

Doesn't look good TBH

I guess they don't believe the Migori / DRC pipe dreams and pump and dump rhetoric here!

DYOR

Astonishing how a bunch of investors talk as if the company is theirs to do as they please. Where is the actual BOD here?
Does Bell actually do anything here any more or has he basically left it all in the hands of these city spivs?

Who in their right mind would invest here with the threat of large holders taking it private?

Nothing but perpetually pumped pipe dreams and "jam tomorrow" nonsense as it has been for the past 8+ years.

Uninvestable for me personally

But each to their own

DYOR

Worth readers knowing that just a year ago in Aug 2019 poster Helpful posted the following:

"If it has not been taken private there is a reason, as will become clear shortly. We may still take it private.
One other large shareholder wanted us to liquidate the company last September and we said no."
https://www.lse.co.uk/profiles/helpful/?page=45

Seems to me that there is a bunch of significant holders here who appear to be calling the shots. According to Helpful they were thinking of taking the company private and at least one of them actually wanted to liquidate the company. How bad must they have thought the company was to want to liquidate it and cash in the assets? Either way I expect some might find that situation somewhat concerning. After all who are these people ? What credentials do they have? Do they have shareholder's interests at heart or just their own financial interests?

DYOR

Drlong - "Look at revenue over last 10 years,but all the promises"

Indeed. between 2012 and 2019 the company has incurred losses of some £40m
It has raised over £16m cash by brutally diluting shareholders with "death spiral financing"
It spent over £12m just on Admin and expenses

It is the very definition on an AIM lifestyle outfit imo. The rampers only ever offer the same old "jam tomorrow" rhetoric whilst desperately trying to tell people that a dire track record established over 10+ years is of no relevance.
Yes there will always be odd spikes and the traders on the inside track will always play the naïve mugpunters to profit at their expense. With literally 100s and 100s of far better, stronger companies out there just now which are delivering massive returns on COVID swings and with decent BODs and who haven't got a ton of Convertible Loan Notes ready to drop, I find it incredulous that anyone would even give this POS a second glance, but it takes all sorts and each to their own.

This is the update that RRR provided on the licence situation in Sept 2019:

https://www.lse.co.uk/rns/RRR/red-rock-resources-update-on-kenyan-interests-gz8dtjtw4atfyaq.html

This is how Kenya news reported the situation when RRR had its license revoked :

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

Worth a read imo

Helpful has been trying to pump the angle of an "imminent Kenya License" since 2018 !! lols

His posts:

Oct 2018 - "What does priority mean? It means that RRR's application gets considered before anyone else's: see section 56."
Nov 2018 - "We can't be too far off them confirming things on DRC, Migori and Steelmin."
Nov 2018 - "we are due imminently news on the license at Migori"
Nov 2018 - "it has resolved the issues with Migori and is expecting the licenses back any day"
Feb 2019 - "I expect the Migori license back shortly and that will fund the further work needed on the licenses"
Feb 2019 - " he [AB] is expecting to get the license back for Migori anytime now."
Mar 2019 - "The CLNs will be looking very healthy shortly. Get Migori sorted and a bid for Musonoi and AB will be a hero again!"
Mar 2019 - "we will likely get Migori back in the next few weeks"
Apr 2019 - "Two big steps coming up: get the Migori license back and execute the JV"
Apr 2019 - "The short term play is to get Migori back, sell it"
May 2019 - "Migori must be getting close now"
May 2019 - "We are due something from any of the following soon: News on Migori license"
Jun 2019 - "Migori - I anticipate a lot of progress here over the next two months"
Jul 2019 - "I expect the Migori license to be forthcoming"
Jul 2019 - "Fingers very crossed we should get the Migori license very shortly"
Aug 2019 - "fingers crossed for getting the Migori license back soon"
Aug 2019 - "It sounds to me that AB thinks Migori is nearly sorted.. "
Sep 2019 - "Anyway, hopefully AB gets this Migori license sorted out soon."
Oct 2019 - "We are on the last leg of getting the license(s) back on Migori"
Oct 2019 - "In the meantime we await the final piece of the jigsaw on Migori."
Dec 2019 - "In the meantime we await the final piece of the jigsaw on Migori."
Dec 2019 - "Migori is very close but it has been close for a while."
Jan 2020 - "When the Migori license gets issued is in the control of the Kenyans. All RRR can do is meet all the requirements for the license to be issued"
Feb 2020 - "I am expecting that the company will eventually deal with Migori"

You can but laugh at this relentless ramping monologue. He equally ramped Steelmin and that went into administration and prior to that ramped Shoats Creek which was a dismal failure and was written off.

Anyone who follows such clap trap simply deserves to lose their money. It's always "jam tomorrow" and "this time next year Rodders". I won't personally get mugged by lame rampers especially those who are locked in holding CLNs here who need the SP to get to 0.6p in order to convert their notes and release their cash. Be sure to do your research. It's really not that difficult, just look at the basics in the Annual Reports imo.

Of course there was a decent indicator on 14th July when former 13% holder peter Gyllenhammar reported he'd dumped shares and was at that point left holding only 2.84%. He's probably dumped more since imo.

The recent pump appears to have run out of steam, plenty of sells now. Hope people don't get left holding the baby if it drops back to 0.4p levels. I wonder how many will want to stay holding as we go into the weekend.

Lots of stocks across the markets are plummeting because of second waves of the virus. One I have been watching dropped 35% in just a few days. Happens so quick. You have to take profit when you have it at the moment imo.

Admin Expenses for 6 months were £282k equiv to £564k a year

Other Project Expenses were £126k equiv to £252k a year

Both numbers are very obviously simple projections to the end of the year based on the 6 month expenditures

Suggesting that one can't project those forward on the basis that they are adhoc is utterly puerile.

Other project costs for year ended 30th June 2019 were - £158,689
https://www.lse.co.uk/rns/RRR/final-results-l12ratw2f8ciuzt.html

Other Project costs for year ended 30th June 2018 were - £306,666
https://www.lse.co.uk/rns/RRR/red-rock-resources-annual-financial-report-2018--6uelgz7fpl69da6.html

I think people can make up their own minds how much Other Project Costs will be for the full year if they are £126k for the first 6 months.

Desperate stuff from you. Clutching at straws

DYOR

No "jam tomorrow", no fantasy nonsense, just hard facts from the Annual Reports

Yearly results, amounts of cash raised via placings/CLNs etc and amounts frittered on Admin and expenses

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

It speaks for itself imo

Admin and expenses currently running at £828,000 a year according to the Half Year Report.

Rampers would have us believe this long standing situation is not relevant. I think I know who to believe.

DYOR

lols Helpful

Come back in 10 years and lets see how much of that is actually out of the ground. People are not going to fall for this "jam tomorrow" clap trap. You've been spouting it for years whilst the SP tanks and whilst the BOD continue issuing confetti just as you did at Mayan Energy which utterly decimated the SP.

You've also tried pulling the wool over people's eyes here for years with ridiculous "sum of the parts" valuations, never factoring it the obscene and preposterous amounts of cash that Bell fritters on Admin and expenses. As stated below, 75% of cash raised got wasted on Admin and expenses between 2012 and 2019.

The recent Half Year Report stated that Admin and Expenses are currently running at £828,000 a year. What a joke !
That swallows up the Jupiter dividend leaving nothing for shareholders and that's the only real meaningful income here aside from a few paltry crumbs from elsewhere.

It is in essence a classic AIM lifestyle outfit imo that simply enriches Bell and the BOD. Perpetually pumped by unscrupulous traders trying to generate momentum.

It's clear that 13% holder Peter Gyllenhammar doesn't believe all this fantasy "jam tomorrow" nonsense. He's dumping his shares fast and furiously. Down to just a 2.84% holding as of 10th July.

https://www.lse.co.uk/rns/RRR/holdings-in-company-wparipglbsfpl4c.html

Look at the appalling late reported sell yesterday of £22.25k at a price of 0.445p

Seems he doesn't believe the SP is going to rise to 1p doesn't it ?!!!! 0.445p!!! Yesterday

Ramp on chaps

Comedy gold Longterm and possibly the lamest ramp attempt I've seen all year here.
You must be out of your tree if you think anyone is going to swallow such ridiculous fantasy valuations.

Migori is a desperate pump angle that Helpful has tried ramping for the past year. Nobody imo was remotely interested in Migori BEFORE RRR got its licenses revoked there. Getting the license back won't impress anyone except the very easily lead and won't make any material difference. What matters is getting minerals out of the ground and that takes a lot of time and a lot of money. The Half Year Report here said RRR had just £139k in the bank !!!!

When has RRR ever managed to get anything out of the ground with any commercial value?

Greenland project - they spent £millions and eventually sold it for just £1. A colossal fiasco
Ivory Coast - Applied for 3 licenses, never got them. Bought 3 existing licenses. Project went nowhere
El Limon - Spent £millions, eventually practically gave the mine away and left a royalty that will take 100 years to recoup
Shoats Creek - Waxed lyrical about test results, real production was farcical, project was an abject failure, now written off
Steelmin - Went bust Feb 2019, RRR failed to RNS a £1.1m loan to them which is now lost, another abject failure,

Candy sweets, Cloud Computing, Dbar oil . . . . the list is long and the results always the same. I'm sure others can add to this list.

The only thing this company has ever produced in quantity is confetti shares
The only meaningful income it has is a dividend from Jupiter on whose coattails RRR clings to life
Approx 75% of available cash ends up frittered on Admin and expenses

Between 2012 and 2019 RRR raised over £16m in cash from confetti issues
In the same period it frittered over £12m on Admin and expenses

So it's patently clear to anyone that does the most basic research where all the money goes here.
That's why there is seldom any shareholder value and why over the long term the SP has been decimated.

Your ramps are fantasy nonsense imo. If you believed in the company you wouldn't be posting fantasy boiler room style nonsense on chat boards. Few will fall for it imo. The track record here is far too well established.

DYOR

Deary me the whining from the rampsters is getting palpable. Should tell you something imo.

Just lols at the £22.25k sell at 0.445p from 10:04am yesterday only now appearing.

You seriously cannot make decisions based on what you see in the trade lists. So glad I don't get sucked into this nonsense. So many better shares out there to put money into without all this BS.

DYOR

100s of stocks across the markets have similarly enjoyed a recent lift because they all got decimated by the COVID crisis.
Trying to suggest RRR is somehow special is farcical. Gains could have been made in load of shares and indeed have been.

The thing is those other shares don't have £830,000 worth of outstanding CLNs hanging over them like RRR does nor shed loads of warrants. Nor do they have BODs frittering £millions away on Admin and expenses. The suggestion that CLN holders here won't convert if their conversion price of 0.6p is reached is probably the funniest thing I've heard all year short of the Lib Dems being annihilated from UK politics.

lol Helpful

At no point did I say CLNs automatically convert. The holders have had their cash locked in here for the 3rd year running now. Only you, a holder of many of them, would try convincing mugpunters that the holders won't be clamouring to convert at the earliest opportunity. It's laughable. Of course they will convert. There are opportunities of a lifetime appearing across the stock markets at the moment with COVID. No way people want lots of their cash locked up in CLNs in a tinpot AIM lifestyle outfit imho when it could be put to far better use for infinitely bigger profits in decent companies. Again, if they did they wouldn't have needed to get the conversion price lowered from 0.8p to 0.6p.

You forget that your ramping nonsense has no impact on me. I'm not fooled one iota. But your increasing frustration and increased posting of useless silly Twitter links and gold nonsense tells me the true story here.

£830,000 worth of CLNs will be available for conversion if the SP reaches 0.6p simple as.

Your suggestion that the holders won't convert at that point is farcical imo but as one of the main holders of the CLNs yourself you can't be expected to say otherwise. You look out for No 1.

The CLNs have had to be rolled over for a 3rd consecutive year instead of being paid off. Holder's cash is locked-in as a result. Thanks for your spiel but I will go on believing that holders will convert and exit at the earliest opportunity. 0.6p is the conversion price. I would not want to be left holding here if the SP reached that point personally but each to their own of course.

DYOR

Laughable stuff Helpful

The very fact that the conversion price had to be lowered from 0.8p to 0.6p last Dec is testimony for me personally as to how frustrated the CLN holders must be and how much they want/need to get their cash out.
The stock market is very buoyant at the moment, volatile, due to COVID. Who wants to have their cash locked up in a tin pot high dilution outfit like RRR earning a measly 12% ??? It's just laughable. If you're after 12% you invest in strong blue chips not AIM cesspit lifestyle outfits.

You don't fool me for a second. The CLN holders will undoubtedly convert as soon as possible in order to get out of their locked-in situation and to release cash that could then be invested in any of hundreds of good companies that are providing significant returns at the moment. If the holders were all happy to be locked in earning 10% interest then the company would not have had to lower the conversion price from 0.8p and increase the interest rate from 10% to 12% last December. The holders, if they were happy being locked in and happy with prospects here would have simply carried on with 0.8p and 10%. But there clearly weren't.

Your rhetoric is certainly entertaining old bean but I'm not personally fooled by it one iota.

As the main holder of the CLNs your biased ramping position is understandable. You are looking after No 1 as would be expected. But it remains a total embarrassment that for all your posturing you're happy to sit and take a measly 12% interest in an AIM tiddler. No-one comes to AIM for a pathetic 12%. It's a high risk market in which punters come for a high reward in the form of multi-bags. I don't think I've ever seen you so desperate to pump in the few years I've watched you pump POS stocks like Mayan Energy.

Nothing will ever change here whilst the BOD remain in position. Their MO has been established over many years of failed projects and mass dilution of shareholders and carnage SP destruction. As another poster correctly stated most stocks have had a lift due to the covid volatility but they are starting to drop again now because of second waves of the virus.

Bottom line remains for me that I wouldn't personally want to be left holding here if/when the SP hits that 0.6p CLN conversion price. I personally believe that after 2-3 years having had there CLNs rolled over they will grab any opportunity to convert and exit. Each to their own as always.

DYOR