Member Info for MrMagic

A raft of convertible loan notes will reach their conversion price if the SP reaches 0.6p. The holders have been locked in for a 3rd year with those CLNs and the conversion price had to be lowered from 0.8p to 0.6p last Dec. They will surely be very keen to convert and release their cash if the SP can be hiked up to 0.6p imo.

RNS here:
https://www.lse.co.uk/rns/RRR/renewal-of-convertible-loan-notes-xgpuhep1cydwhuk.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. "

Doubtless the reason behind the current pump imo

I think I personally would take any profits before the SP reaches that 0.6p conversion price but each to their own.

DYOR

Come on Helpful you need to push harder than this. You're so close the CLN conversion price now you can't give up.

Get those twitter links posted pour out the "jam tomorrow" rhetoric. You're nearly there.

Can't wait to see the insta-RNS if the SP gets to 0.6p stating that all the CLN holders have quickly converted and then watch the subsequent sell out. The very fact that you had to get that conversion price lowered from 0.8p to 0.6p is testimony to the frustration of being locked in for 3 yrs. Holders clearly were not happy imo.

I wonder how many late reported sells will show up later today. All par for the course in the wild wild west of the AIM cesspit.

The list of failed projects here is palpable but then it's never really been about having successful projects imo. It's about creating a story for punters to believe. The vast £millions that have slipped away in Admin and expenses is imo appalling. It will never change whilst the current BOD remain in place. Shareholders should have been benefiting from regular Jupiter dividend payments. Instead not a single penny of them has ever been passed on to shareholders here and it just gets sapped away by Bells wastage on admin and expenses.

The current pump and dump will run out of steam as it always does. Maybe you'll manage to get to 0.6p and convert those CLNs, maybe not. One things for sure I would not want to be buying here at this point just before that conversion price is reached and then get left holding the baby if the CLN holders all suddenly dump.

DYOR

lols and there it is as predicted

A late reported sell of 2 milllion that actually occurred at 09.09 in the morning but not published in the list until after 16:15.

It gets so old here

RRR has lost 50% of it's value since just 2018 so why you are desperately harping on about 2013/2014 one can only guess.

I realise you are totally locked in here and desperate to get your money out but do try not to make it so blatantly obvious. It's embarrassing TBH.

The downward trend of RRR since 2018 is plain to see on the chart. I hope you recovered some of your losses by buying the COVID generated dip as I'm sure many did. However we are now simply back to where we were before COVID, languishing at 0.45p levels and unfortunately second waves of the virus are hitting the world and are dropping share prices again. Forgive me if I don't rush in and buy shares in this POS at this level won't you. For one reason markets are dropping again and I'd be quickly left holding the baby imo and for another there are so many better good strong stocks out there to buy on the market dips rather than this farcical lifestyle Bell outfit. Ramp on old chum.

DYOR

I'll be watching for the late reported large sells that seem to happen to often here. Trade list simply can not be trusted imo.

A reminder of the terrible track record here:

From Annual Reports:

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 frittered on Admin - £12,770,280

Clear to see where the money goes and why there's seldom any shareholder value. So many better shares to go at imo.

DYOR

Sad to see the one man ramp team so desperately and fervently pumping this awful share. Helpful has lots of money locked in here with the £1m outstanding CLNs which have now been rolled over for a 3rd successive year instead of being paid off. The conversion price had to be lowered from 0.8p to 0.6p last Dec to give the holders more of a fighting chance of converting and getting their cash out imo. Helpful is clearly desperate to get to 0.6p.

Posted by Helpful Aug 2018:
"CLNs capital plus interest of 10% pa convert at 0.8p. If I hold till December, it gives me an effective conversion price of 0.71p plus the warrants. If the price is around 0.8p or lower, I can take my cash back. If the price is higher I can convert and hold or sell, whichever suits. I expect I will be converting but who knows? "

The SP at the time was 0.775p since when the SP steadily tanked down to 0.45p levels. Poor Helpful was well locked in with no chance of ever converting his CLNs. Hence at the last yearly rollover the conversion price was lowered to 0.6p.

Since Jan when the COVID crisis hit the SP dropped dramatically along with countless other stocks and here it went down to 0.16p levels. The SP has now simply re-balanced to where it was before the COVID crisis, back to 0.45p levels.

This is all evident on the chart here imo which shows the steady downward trend pre-COVID:
https://i.postimg.cc/q7yqYh3v/RRRDownward-Trend.png

The pump and dumping is poor to see but nothing out of the ordinary with shares like this. Those who bravely bought shares in any company) that had been quickly decimated by COVID will have been rewarded by the eventual recovery uplift. I was one such person but I sure as hell didn't do it with POS stocks like RRR. I backed good strong companies with good management and huge long term prospects and was handsomely rewarded. The markets are now once again starting to plummet due to second waves of the virus appearing. Don't get caught out imo. I sold a while ago and now lots of stocks are once again being decimated. More opportunities will therefore present themselves.

The SP here has resumed to where it was in January when the virus crisis hit. I can only personally expect that normal SP slippage will continue from this point. Still well done to those that bought shares (any shares) that were decimated by the virus crisis. Just don't get sucked in and left holding the baby. In - out take the profit imo.

DYOR

Understandable Hairy. Notable that 13% holder peter Gyllenhammar has also dumped here. Last reported holding only 2.48% so no longer notifiable but I feel sure the large sells will be his remaining holding. The lame P&D attempts here will never dupe me into punting this POS. CLN holders have been locked in for 3 years. Conversion price was lowered from 0.8p to 0.6p last Dec and the current pump imo is aimed at trying to get to that conversion price so they can all get their cash out. There will be a mad scramble to convert and sell if the SP ever gets there imo. All in all it remains for me a total sucker share.

Yep 3 massive sells. £20K x 2 and £13.65k

Assume it's Gyllenhammar desperately dumping his remaining shares. He really doesn't believe the "jam tomorrow" BS spouted here I guess. Didn't you have a word with him about the fantastic El Limon royalties ?? lols

Not looking good here imo. As always the naïve have been left holding the baby whilst others sell out imo.

Large round sells appearing again. A few 250,000's and a 500,000 plus yesterday a 1.3m sell and a 2.5m later on for £10k

One presumes this is the former 13% holder Peter Gyllenhammar continuing to dump his shares.

What does he know???

Since he dropped below 3% on the 10th July he no longer needs to issue holdings RNSs so we can only speculate that it is him continuing to get rid of his remaining shares here. I wonder how he feels about Bell and the rest of the BOD.

He clearly imo doesn't believe the jam tomorrow rhetoric posted here ! What is it they say? Follow the money?

DYOR

Tiny little company . . . yep
Tiny valuation . . . yep

But there's a reason for the tiny valuation imho which is outlined in the Annual Reports

ANNUAL REPORT RESULTS
=======================

Losses incurred, amounts frittered on Admin, Cash raised

2012 - Loss of £2,112,350 - Admin £1,091,108 - Cash raised £907,090
2013 - Loss of £5,166,017 - Admin £1,224,013 - Cash raised £3,327,678
2014 - Loss of £1,508,812 - Admin £881,947 - Cash raised £1,212,805
2015 - Loss of £5,888,742 - Admin £964,761 - Cash raised £1,049,765
2016 - Loss of £1,965,722 - Admin £594,733 - Cash raised £781,595
2017 - Loss of £534,267 - Admin £414,943 - Cash raised £1,576,701
2018 - Loss of £1,549,619 - Admin £735,697 - Cash raised £1,150,000
2019 - Loss of £2,607,978 - Admin £652,918 - Cash raised £240,000

Total losses above - £21,333,507

Total cash raised above - £10,245,634

Total Admin above - £6,560,120

So, losses incurred year on year and over £6m of £10m cash gone to Admin. I think I can see why it has a tiny valuation and why the SP has been decimated. The share price here has lost over 70% of its value since the colossal 1-100 consolidation was done by Parsons & Co before Christmas. Back then there were 86m shares in issue. Now due to repeated confetti issues there are approx. 190m shares in issue. More than double.

You'll forgive me if I stay very well clear from this POS and doubly so if Doc Holiday is trying to promote it.

DYOR

Hahahahaha good one Hawaii

Doc Holiday ?? just lols

The continual BS about the El Limon royalty gets so very old and only the unscrupulous persist in trying to pump that angle and make a deal of it. No-one here will ever see the full $3m recouped in their lifetime imho and neither will Bell.
This hasn't stopped Bell constantly putting pithy fantasy statements in each Annual Report. This is what has been posted year on year:

Annual Report 2016 - "The Company estimates that approximately £360k will be paid out towards the initial $1m royalty during 2017"

Annual Report 2017 - "The Company estimates that approximately £400k will be paid out towards the initial USD2m royalty during 2018 based on updated projections from the operator in Colombia"

Annual Report 2018 - "The Company estimates that approximately £150k will be paid out towards the initial USD2m royalty during 2019 based on updated projections from the operator in Colombia"

Annual Report 2019 - "The Company estimates that approximately US$250k will be paid out towards the US$2m royalty during the next four quarters based on the most recent projections from the operator in Colombia."

But the most recent 2020 Presentation highlights the actual paltry estimates which are:

2018 - $45,000
2019 - c$40,000

It really is utterly laughable. Anyone who believes Helpful's pathetic ramping here thoroughly deserves to lose their money imo. I have no sympathies with such people. Helpful has his money locked in here with many of the £1m+ outstanding Convertible Loan Notes which have had to be rolled over for 3 consecutive years now. Do your research and do it well, it really isn't difficult.

All the salient information is in the Annual Reports which show that between 2012 and 2019 the company posted losses totalling approx. £40m and raised over £16m cash from placings and the like and spent over £12m just on Admin and other expenses. Clear where the money goes and why there is no shareholder value.

It's a total avoid for me for that reason. The company is a complete joke imho and the BOD simply have to go.

DYOR

Helpful - "We are owed the best part of the $3mil as a royalty on El Limon. If you check out the latest corporate presentation it tells you what the current position."

Still trying to flog this dead horse Stephen? It really is getting embarrassing TBH.

A quick look at the July presentation you mentioned gave me the usual chuckle. Firstly I see that they STILL can not get the terms of that royalty correct in the presentation. It was incorrect in previous presentations too imo.

The presentations say :

3% net smelter royalty over $1m
0.5% net smelter royalty over $2m

I believe this to be the wrong way around as I have pointed out before but perhaps it's a wording style I don't understand.

The official RNS that was published in Apr 2015 stated:

"Additional payments of up to USD2,000,000 will be paid in the form of a 3% net smelter return royalty"

"A final royalty stream of up to USD1,000,000 will be paid following the payment in full of the First NSR in the form of a 0.5% net smelter return royalty"

(https://www.lse.co.uk/rns/RRR/columbian-gold-assets-sale-agreement-83uakhyjv8go7nu.html)

Seems clear to me. The 3% NSR is for the first $2m and the 0.5% royalty is for the final $1m.

I suggest you go have a word with the clowns back at the office and get them to correct the presentations.

I also could not help but chuckle at the fact the presentation gives ESTIMATES of the royalty. Why? Have Para not actually been paying those royalties ? Why is the royalty revenue for 2018 estimated at $45,000? Surely they should know EXACTLY what the payments were. Same for 2019. Why is it they are so reluctant to give ACTUAL figures and are instead only giving out estimates. It's ridiculous.

As always the I find the "expected", "anticipated", "could be", "may be" would love it to be" estimates for the future a pile of fantasy nonsense. They've been making similar claims for hopes and dreams every year since the mine was sold.

The presentation says the estimated quarterly royalty amount is circa $10,000 which is pitiful and that's an ESTIMATE!!

The royalty estimate for 2018 was $45,000 for the year, the estimate for 2019 was $40,000 for the year.

Let's take the 2018 number. $45,000

The company has to recoup $2m from the first 3% NSR. At $45,000 a year that is going to take 44 YEARS !!!!!!

If that $45,000 represents the 3% royalty then the equivalent per year for a 0.5% royalty would be $7,500

At $7,500 a year to recoup that final $1m would take 133 years !!

So that's 177 years to recoup the full $3m using RRR's estimate for 2018.

Even if you take the (imo) fantasy estimate of $200,000 a year it will take 10 years to recoup that first $2m of the royalty and then a further 30 years to recoup the final $1m. So 40 years to recoup the full $3m royalty.

Any way you slice and dice this it's a total red herring pile of nonsense.

DYOR

Indeed, Migori has been "on-going" for over 26 years I believe !!!

Laughable stuff. Still no license either. That's been "imminent" for how many years now?

Nothing will ever change here. Not until the BOD are removed and replaced.

DYOR

Ivory Coast
Kenya
Cloud Computing
Candy Sweets

Classic nothing RNS

13% holder PG has dumped

Can mean only one thing . . .

Tick tock

Yet another large 13% holder of RRR dumps his shares. What does he know ?????

Prior to this in Aug 2018 another 13% holder Daniel Sklan dumped his holding after it had been brutally diluted by Bell & Co.

Daniel left damning comments here on LSE after he got out, you can read them here:

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

"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."

Notice that there has not been any holding RNS from the resident ramper here who tries desperately to encourage people into this share.

DYOR

Another late reported trade. 10m (£36k) sell @ 0.36p from last Friday at 2pm !! Just lols. How many more will appear?

Someone really doesn't seem to want people to see the trading as it happens !

Imagine if those were placing shares, (pure speculation). Then if they are happily selling at 0.36p then the confetti must be being issued at around 0.30p or less imo. Of course it could just be someone dumping.

Either way this is a barge pole for me

DYOR