Member Info for MrMagic

I'd say the cat was out of the bag personally, but then in my world it was never in doubt.

Helpful's pathetic ramping sealed the deal days ago imo

Here comes the (imo) oh so predictable torrent of round trade sells . . .

Gosh what could it mean . . . .?!

I strongly suspect Cornhill are busy at the moment. I could be wrong of course. . . .

DYOR

Laughable stuff Helpful. Your usual fare.

So you're basically refusing to tell readers here what the RRR royalties are for El Limon. As I said you would.

Either those numbers are known or they are not. Either they are public knowledge or they are not. If they are public knowledge then you should have no problem whatsoever backing up your claims by posting them here for readers. The fact that you don't do so merely confirms what I already knew from RRR's last published quarterly figure which is the payments are embarrassingly tiny and it will take countless years to recoup the full $3m due. Please stop ducking and diving and evading and provide the royalty figures.

So looking back at the list of trades last Friday it can be seen that the trade list can not be trusted.

5m shares were bought at 13:21 but then just 4 minutes later at 13:25 there were 5m shares sold. However that 5m sell
didn't appear in the list until 2 hours later. There were 2 or 3 other sells reported about an hour after they took place.
This is despicable stuff imo. It means you simply can not trust the trade list.

So now I never look at the list and think, "hmmm there are a few large buys maybe something is happening" because there's every possibility those trades will either be cancelled or that the shares will have been sold again very quickly but the trades will be reported much later.

I will be staying well clear of this myself

DYOR

This is how Bell spun the laughable situation on the gold royalty in the last Annual Report:

"Royalty revenues from the El Limon gold mine in Colombia have shown slight improvement, but have not yet achieved their full potential."

Just lols

How're those El Limon royalty figures coming Helpful? Seems to be taking you an extraordinarily long time to provide them for readers here . . . . . .

As predicted more late trades showing up. Nice 5m sell from 13:25

This nonsense gets so very old.

I'll be keeping very clear from this but each to their own.

DYOR

lols - It was oh so predictable that there would be lots of late reported trades appearing imo

Watch out for them at the end of the day and into next week imo

I'm not fooled personally. I've learned never to believe what you see in the trade list.

DYOR

Helpful - "RRR has income from JMS and from El Limon."

The royalty from El Limon is tiny. I challenge you for the second time to post up any figures. Of course you won't do so.

JMS pays dividends but earlier this year they reported this was reducing from 4 cents a share to 0.75 cents a share.

Last year Bell pawned off over 1.5m of the valuable JMS shares here without directly RNSing the fact. I can only assume he did that to pay salaries and Admin. It's hardly a positive thing to say "placings are ancient history" if the chairman is dipping into the only real tangible asset for cash ! When those shares are gone, they are gone.

Admin and expenses are currently running at £828,000 a year here for a company with a £2m MCAP !

It's not tenable imo to keep in place a BOD that fail to put out RNSs for key transactions and events such as:

- Not RNSing loans and transactions with Amulet Diamonds
- Not RNSing the loan of £1.1m to Steelmin
- Not RNSing Steelmin going into Administration
- Not RNSing the cashing in of 1.5m Jupiter shares

and so on

Daniel Sklan (13% holder) saw the light making the same comments about the preposterous expenditures on admin and frivolous projects. (https://www.lse.co.uk/profiles/d_s_)

Change is needed imo

DYOR

MMgames - "RRR are in collaboration with Power Metal which is headed by Paul Johnson "

Bell is exec chairman at POW so I personally wouldn't expect things to be any different there than they are here at RRR or RGM. i.e. lots of confetti share issues, lots of fingers in lots of project pies, lots of "jam tomorrow" promises, large expenditure on Admin and so on.

A quick look at POW's recently published Half Year Report confirms my thoughts:

Loss incurred - £256k
Revenue - zero
Operating Expenses - £316k (equiv to £632k per year)
Cash - £289k
Liabilities - £123k

The report also states they expect to make a loss in the next 12 months.

Laughably their report shies away from using the word ADMIN and calls it "Operating Expenses" as if somehow that will make things different.

POW just dropped a placing on Monday raising the shares in issue from 552m to 763m, about a 40% increase.

Same old

Don't worry. I predict there will be a plethora of new stock arriving imminently.

I won't get sucked into a placing by your tiresome rehetoric

Jupiter took the decision to mothball the Mt Ida project in 2012 announcing it in Nov here:

https://www.jupitermines.com/cproot/175/3/jupiter---quaeh.pdf

In their RNS they stated:

"Jupiter Mines Limited (Jupiter) (ASX: JMS) has just received the preliminary estimates of the Mount Ida Feasibility Study. These indicate higher capital and operating costs than those contained in the 2011 Scoping Study. In light of these estimates, taken together with the currently depressed iron ore and strong exchange rate environment, the Jupiter Board has concluded that it is in the best interest of the Company and its shareholders to freeze expenditure on the Mount Ida project until market conditions improve"

At the time the price of Iron Ore was around $125

You can see the historical iron ore prices on this chart

https://i.postimg.cc/59sk6Pcw/Jupiter-Mt-Ida-Iron-Ore.png

So $125 levels were considered by Jupiter to be "currently depressed" levels and were one of the reasons for mothballing.

One can see from that same chart that although the iron ore prices have risen steadily since 2016 they are still very much below the point that Jupiter deemed to be "depressed". You can easily plot a straight line on that rising ore price and see the point at which it will likely reach $125 (that's IF it keeps rising in that steady fashion!) and that would take you to about 2024 imo. Please do check.

Therefore I personally find it extremely unlikely that anyone right now would be thinking of expending all that money to develop the project any time soon. Surely the iron ore price would first need to reach a point higher than what Jupiter deemed to be "depressed" levels and then remain above that level on a stable basis for some time.

Because of that simple fact I personally predict nothing will happen with Mt Ida for a long time to come yet. Just my opinion nothing more. Alternative opinions welcome.

DYOR

No I understand perfectly what is going on and what has always been going on. A simple business model predicated on constant fundraising, brutal dilution of existing holders and most of the cash going to salaries and Admin. RRR was incorporated in 2004. As was RGM. In 15 years Bell has raised untold £millions from dilution of holders working with crony lenders like Cornhill and YA and others. Most of the cash went to Admin. 15 years later Bell is still issuing confetti to raise cash.

Whatever happens to the Jupiter iron ore assets (and I predict it will be nothing) the fact remains that any cash that is released from those remaining tranche payments from years ago, will simply be exposed to Bell's business model and will see most of that cash go to Admin and salaries.

Let's face facts. Mt Ida isn't going to be producing in your lifetime. It's been sat mothballed since 2012 and it will cost a fortune to develop and get to any kind of production imo.

Regardless nothing changes here. Give Bell £2m cash tomorrow and he'll waste £1.5m of it on salaries and Admin imo.
It won't add £2m value to the MCAP.

You had a chance ages ago to remove Bell and the BOD and you failed to do so. Biggest mistake you made short of locking your cash in here. There's almost nothing left to ramp here and I can see that this tired old Jupiter Yilgarn yarn is probably your last Hoorah here. It's been ramped every year for the past 7+ years like clockwork. The project remains mothballed by Jupiter nonetheless.

I'm not remotely tempted by the speculative updates. I remain totally confident that Bell wants to get a placing away so I wouldn't personally touch this with a barge pole. Each to their own as always.

DYOR

Correction to my 16:46 post

Admin expenditure quote of £742,000 a year was RGM's not RRR apologies

RRR's Admin and other expenses from their recent Half Year Report were equiv to £828,000 a year
That is Admin + Other Project Expenses + Exploration expenses

The Admin portion is running at £564,000 a year

Still crazy imo for this AIM tiddler which has a MCAP of circa £2m

Current Liabilities were stated as £2.36m
Cash was stated as £139k

This was the position as at 31st Dec

Hey why not throw in a fresh Broker Report too for good measure with some chirpy fantasy valuations?

and I do miss all those great RRR newsletters with Bell's uber lame ramps in them.

Ah the good old days.

How about another public conference call? They were good. For some strange reason Mr Bell saw fit not to have any more of those. Maybe it was the embarrassing unplanned call from a Migori director on the last one that tipped the scales there?!

Oh well . . . . . . back to the Jupiter ramping

Roll on the confetti

DYOR

Helpful- " AB and RRR's involvement has no bearing what the JMS iron assets are worth"

LMAO !! What a joker you are !!

AB's involvement directly resulted in RRR selling it's former 74m Jupiter shares at a pittance instead of when they were worth over £25m. There is a clear conflict of interest with the shares as Bell is on the board of Jupiter and it doesn't look good to the markets if a board member sells their shares.

Bell also pawned off 1.5m of the RRR Jupiter shares last Aug/Sep and did so without directly RNSing it to the markets. We can only assume that those valuable shares were cashed in to pay his ridiculous salary and preposterous expenses. That's more value lost for shareholders. It just continually seeps away.

Bell is responsible for the utterly ridiculous expenditure on Admin here which Annual Reports show is around 75% of available cash. It is directly because of Bell that one can not value the JMS holding at its face value on TSX. Whenever those shares are cashed in the cash will be exposed to Bell's Admin trough. The same is true of any other asset or holding and for any cash raised. Over £16m of it raised from 2012-2019 and over £12m of it went to Admin. Ancient history indeed !! It's the constant MO here, past, present and future. It won't change until and unless the entire BOD are removed. Half Year Report showed Admin is running at £742,000 a year. That's a lot of paper clips for such a useless AIM tiddler ! Basically a joke.

You said ages ago that the large holders wanted to liquidate the company but that you'd rather Bell carried on to deliver value (lmao!). How much value has been lost since you made that decision?!! What was the SP then and what is it now?

Your posturing remains frankly an embarrassment and I hate to imagine what your clients think having been walked into this POS. Do you feed them the same "jam tomorrow" spiel that you post here? God help them.

Confetti O'clock imo. Tick tock. The savvy will recognise the signs imo. Increased pumping, large round trades, update RNSs etc etc. Obvious as night and day. Only question is how low the placing price will have to be to get people interested to shell out the cash. 0.25p? 0.20p ??

Either way this is a total avoid for me personally

DYOR

You're fooling no-one here I'm afraid. It's so patently obvious what is happening and doubtless you will be participating.

I never tell anyone to buy or sell. Conversely you ramped Shoats Creek which went nowhere and doubtless cost some PIs a lot of money and you ramped Steelmin which went into Administration and doubtless cost PIs money there too. You ramped Mayan Energy for years which was one of the worst AIM diluters going. I'm not remotely fooled by your pumping.

You're locked in here and appear utterly desperate. You only have yourself to blame for dumping your cash into a Bell share.

Tell you what, if Bell doesn't raise this month I'll donate £100 to my local homeless support centre.

If Bell does raise then people here will note what your sudden spurt of ramping was all about

Laughable. I choose to believe they are trying to drum up interest to get a placing away. The recent fervour of Helpful was a giveaway but 2 update RNSs seal the deal for me personally. I predict that it is Confetti O'clock. I'll be standing very clear thanks.

Bell just issued another 210m shares and attached warrants at POW. He will follow suit here as night follow day imo.

Each to their own but I won't be falling for this tired old song and dance routine. Can't be many left who do these days imo.

DYOR

Helpful - "In Q2 2019 . . . . . ."

In May 2020 Jupiter's annual report stated "Both projects remained on care and maintenance with only statutory work being undertaken during the financial year."

https://www.jupitermines.com/cproot/967/3/20200527%20Jupiter%20Mines%202020%20Annual%20Report.pdf

Their review is on-going and seems to be taking an extraordinarily long time if they started it Q2 last year.

Jupiter have reviewed the projects a number of times before and the result is always to keep them mothballed.

The long-standing tranche payments you refer to date back to 2012 and are dependent on:

"a positive definitive feasibility study (DFS), a formal decision to mine and that 20% of the pre-production capital costs outlined in the DFS are provided for" and

"commencement of COMMERCIAL production"

How many years will it be before Mt Ida achieves commercial production were it to be brought out of mothballs??
Meanwhile how many more billions of shares will Bell have issued here and how much SP decimation will that have caused?

As always you are simply trying to pump the share on a speculative "jam tomorrow" basis as you have your cash locked in here in the form of CLNs which have now been rolled over for a third consecutive year.

It's clear from Annual Reports that most cash here ends up spent on Admin which adds no shareholder value. A cash injection would therefore not change fortunes here. That has already been seen as Bell received over £1m from the 3 Jupiter share buy backs and has received more again via the dividends and not a single penny of it was ever passed onto shareholders. Since 2018 the SP here has dropped from 1.2p down to 0.3p.

Between 2012 and 2019 the company has raised over £16m cash from share issues which is far far more than the tranche payments you are talking about. In that same period over £12m was spent on Admin and the SP has been utterly decimated. Cash does not equate to shareholder value here. Simple as.

DYOR

You really are embarrassing yourself now Helpful. It is sad to see such desperation.

You know full well that the Jupiter Mt Ida/Mason projects are mothballed indefinitely and have been for years (since 2012 I believe)

Hence there is no royalty payment because there is no production and the "stage payment" you refer to is dependent on commencement of commercial production which you know full well. Since there is no commercial production going on nor likely to be for a very long time, there is no stage payment or royalty payments.

From Jupiter's Annual Report published May 2020:

"Both projects remained on care and maintenance with only statutory work being undertaken during the financial year.
A strategic review of the projects commenced early in the financial year and continues at present."

The projects are routinely reviewed by Jupiter.

This line of ramping is lame at best and is extremely disingenuous imo. Very poor show indeed.

DYOR