Member Info for MrMagic

Losses made each year, plus amounts raised in cash through dilution placings and amounts expended on Admin

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

Total Raised - £16,326,957

Total Admin - £12,770,280

Plain to see that Bell & Co fritter the lion's share of available cash on Admin and other expenses. £12m out of £16m raised above. Absolutely shocking imo. This is why the SP is always decimated, a constant drip drip loss of value. This is why the company has to constantly dilute shareholders.

Remove Bell and the rest of the BOD in its entirety, remove this expensive and useless baggage, and the horrific expenditures on Admin and the share might one day have a chance to go a little North. Until then however this well established lifestyle "business model" will ensure that the SP constantly goes South imo.

DYOR

lols Helpful

You mean the Migori license that RRR had revoked because Migori had sat on it for 26 years doing very little ?! Good luck with that.

Meanwhile, take comfort in the fact that there are now only 162 working days to go before you have to kick your worthless CLNs down the road for a 4th consecutive year . Even with the conversion price having been lowered from 0.8p to 0.6p, at the current 0.2p levels you need the share to bag twice just to be close to a position where you can consider converting but it's a nailed on certainty for me that by the time December comes around the confetti machine here will have been well oiled and Bell will have issued millions more shares at discount to keep himself in salary and expenses. So SP only going further and further South imo.

By then it will probably time for another share consolidation to try and make the SP look respectable again !

Nothing will ever change here until BOD are removed.

DYOR

"Looking better"

Certainly looking better without your ridiculous defamatory posts which LSE Admin have dutifully removed.

RGM on the other hand . . .

Can't imagine anything will ever change. MO too firmly established. Just waiting for the next round of worthless
confetti to be issued. Number of shares in issue already more or less doubled in the space of 4 months since the colossal 1-100 share consolidation. What a joke !

DYOR

Significant holder James Asquith dumped 5.4m of his shares last Thursday reducing his holding from 4.56 % to 3.68 %

One can only assume more dumping will follow.

Scott Kaintz , executive director and COO and CFO of the Company, is demoted to being a non-executive director whilst a new CFO is appointed.

Hmmmm

Only last August poster Helpful here posted the following:

17 Aug 2019 - "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."

So, a large holder is dumping shares,
Kaintz is being replaced,
RRR started selling it's RGM holdings in Feb . . . .
Helpful is desperately posting links . . .

Is the company readying itself to go private I wonder ?

Man I wouldn't want to have my hard-earned stuck in this POS if it went private.
I'll be looking out for more dumping and increased ramping to help those holders sell their shares

DYOR

Remember of course all those SP's are before the recent 1-100 share consolidation !!

He certainly has and the lame sound bites have been laughable. Here's a few, note the constantly plummeting share price whilst he kept pumping the stock:

Bambos22

Oct 2017 - (SP 0.60p) - "Watch RGM over thr next few sessions. Bought more today and delighted. News is imminent"

Jun 2018 - (SP 0.525p) - "the share price is ridiculously low and the outlook is VERY bullish"

Apr 2018 - (SP 0.50p) - "Lots of CITY Boys in here with an agenda to troll the share and keep the price down. They know whats coming!.. The savvy taking advantage of weakness and anyone buying now will be rewarded."

Sep 2018 - (SP 0.425p) - "Expecting things to improve. Very cheap entry!"

Oct 2018 - (SP 0.375p) - "the discerning PI is now buying RGM.. Very cheap indeed"

Oct 2018 - (SP 0.325p) - "The low share price is a massive BUY opportunity as entry now will reap the rewards once the market turns"

Dec 2018 - (SP 0.325p) - "These are great entry prices at 0.3 or 0.35 or 0.4. This will swing in favour of the bulls very soon!!!"

Jan 2019 - (SP 0.275p) - "nice 500K BUY.. They will be the laughing ones when their investment bags!!! "

Anyone who follows the advice of ramping pundits like Bambos thoroughly deserves to lose their money imo. Just endless "jam tomorrow" sound bites and rhetoric designed to lure in the naïve. Always ignoring the company track record, the devastating levels of dilution and crazy amounts frittered on Admin. That such people are needed to try and promote a stock tells you how bad the stock must be imo.

Nothing will change imo

DYOR

Bambos22 - "Riddler forgets the Covid crisis that has impacted on the shareprice"

Oh for goodness sake what drivel! These tin pot lifestyle shares have absolutely NOTHING to do with the Covid crisis. That has to be THE most lame and desperate ramp I've seen you make in the many years I've watched you relentlessly try to pump RRR and RGM.

The SP's of both companies have been decimated for one reason and one reason only. The endless dilution of vast confetti issues and the preposterous amounts the BOD expend on Admin and other expenses. It's never going to change imo until and unless ALL the original BODs are removed from post and replaced with management who will run the company for the benefit of shareholders rather than for themselves.

It was only in December that there were 1.5 bn shares in issue here and the SP was around 0.035p. The BOD then went and issued over 7 bn more shares at 0.0275p and then did a humongous share consolidation on a 1-100 basis. The share had already had a consolidation only a few years earlier, testimony to the devastating way the BOD have previously run the business imo.

By end of Dec the SP here (after consolidation) was 3.5p. Today it is already laughably decimated down to 0.875p.

Rampers love to spin stories and fairy tales and will constantly plead with naïve mugpunters to ignore the history and claim that it is irrelevant. The charts tell the true story. The SP decimation is constant and so the history is hugely relevant because it tells you how the company operates and thus how likely continued dilution and SP destruction will be.

Since 2012 the company has made losses totalling over £21m
It has raised over £10m in confetti issues and the like
It has expended over £6.5m in Admin alone

That's 65% of raised cash just going to admin !! Small wonder there's never any value left for shareholders.

It's what I suspect many call a "a sucker share. "

If you want a real Covid recovery stock then go for the travel industry stocks which have been decimated and which will recover. The cruise lines for example and entertainment industries and retail groups that manage to survive. They will provide many multibags imo.

DYOR

PWC managed the administration of Steelmin. It's proposal documents which list all the unsecured creditors showed Steelmin owing a debt to RRR of £1,106,943.

https://www.pwc.co.uk/business-recovery/administrations/assets/steelmin_proposals.pdf

As you highlight, chairman Bell here did not RNS this loan to shareholders and markets which I found incredible. Incredible because for a tinpot AIM lifestyle company with tiny MCAP it's hard to understand how it could be legal to make such a significant loan without releasing any RNS (tho doubtless it was legal and that's AIM for you !) but more incredible is the sheer callous disregard for shareholders in not having even the basic courtesy to inform them of such a large loan to such a shaky struggling company as Steelmin.

Even throughout 2019, after Steelmin went into Administration in Feb of that year, Bell did not put out any RNS to inform shareholders and markets that it had actually gone into Administration despite RRR having a 22% stake in the business. Again simply unforgiveable and appalling behaviour.

Worse still for me is the total incompetence in making such a loan on an UNSECURED basis. As stated RRR has a tiny MCAP and to give over £1m of valuable cash to the shaky Steelmin business without any security is just awful for shareholders. Consequently when PWC wrapped it all up, no surprise that all the value and assets in the company went to SECURED investors leaving nothing for RRR.

Bell is a total liability here imo and was too at RGM which he has now left.

His track record is awful and he has left a trail of failed projects in his wake which have sapped company resources and he expends utterly preposterous amounts on salaries, admin and other expenses which imo negate all value from assets and holdings leaving nothing for shareholders. His MO is far too well established here and it is one of constant dilution via worthless confetti issues and CLNs and the like.

There is no question that the BOD here must go, in their entirety, before the share can ever have a hope of going anywhere.

15 long years this company has been incorporated and they still haven't got it into any self-sustaining shape or form (other than as a confetti generating machine). It is for me nothing but a lifestyle vehicle there for their own personal enrichment at the expense of shareholders. Countless losses made year on year yet they continue to reward themselves with lucrative salaries and free shares. It's a total joke.

The BOD must be removed simple as.

DYOR

Here again are the facts from the Annual Reports that the pumpers are so keen to ignore and push off the page so mugpunters don't see it.

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

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

Just look at how much of the cash raised goes just to Admin !! How can there ever be value for shareholders if every year they have to achieve such significant levels of cash just to fund admin let alone anything else?
Cash should be going "into the ground" on projects that have good chance of producing income

When most of the cash goes to Admin instead then I personally deem the outfit to be nothing more than a typical AIM lifestyle company for the enrichment of the BOD.

There are so many better shares to put my money into imo

DYOR

Colin - "I thought RGM's share price was on its ar*e well before coronavirus raised its ugly head"

It was. It's only the shameless stock pumpers that are utterly desperate to try and convince naïve mugpunters that Coronavirus has something to do with the decimated SP in a vain attempt to get the fools to buy shares here when the lockdown is lifted. It is of course a total lie.

Here are the charts from 11th March. A 3 month chart, a 1 year chart and a 10 year chart.

Every one of them shows the same constant decline in share price which is due imo to the inordinate amounts of cash the BOD expends on salaries, admin and other expenses whilst constantly diluting holders with repeated confetti issues.

https://i.postimg.cc/9fHmrWjZ/RGM3-Charts.png

I definitely won't be getting sucked in here by the ridiculous "jam tomorrow" rhetoric of professional pumpers. That imo would be a very quick way for me to lose my money.

DYOR

Ironic really as "Blue Whale" is the habitual answer of the "idiot" on the popular QI quiz programme. The hapless bumbling fool in a world of high brow information who is clueless and can do little but shout "Blue Whale" at every opportunity which is always the wrong answer. There is a certain synergy here with RRR with the vast array of tiny projects Bell sticks his fingers into saying "this is the next great project" where every such project comes to nothing and whilst he continues to issue confetti, dilute shareholders, take a nice salary and expend £millions on admin and other expenses.

Yes, Blue Whale very apt and I suspect will become an habitual term here with every subsequent project being called "the next Blue Whale". There have been so many "Blue Whales" here.

Greenland - on sale for 10m but was sold off for just £1
El Limon Gold Mine - practically given away and a useless royalty that will take countless years to recoup
Ivory Coast - applied for 3 licenses which never were granted, bought 3 existing licenses instead, project went nowhere
Jupiter Mt Ida - Project mothballed indefinitely, royalty useless
Shoats Creek oil - a complete failure that was written off
Steelmin - a complete failure that went bust
Kenya - license was revoked, lots of court wranglings, waiting/hoping for another license to be granted

It is one long trail of "Blue Whales" and company losses.

As always I'm not remotely tempted by today's RNS which I see as just another useless project venture.

DYOR

Bambos - "your negativity almost mirrors my own positive outlook. RGM has new board in place and is well positioned with battery metals and UK energy assets. I am happy with this short, medium and long term."

I post factual info, mostly company data from their own published annual reports. If that is "negative" then it's the company's own doing and all they have to do is change their behaviours, run the company for the benefit of the shareholders rather than to line their own pockets and deliver some value instead of constantly diluting shareholders and spending the cash on salaries, admin and other expenses.

I don't share your view on a "new board" as they left the old board member Scott Kaintz in place and while ever that remains the case I doubt anyone who knows the history here will feel any different about the company. Remove the entire old BOD and you can start to crow. Until then and as we have already very plainly seen with devastating amounts of confetti and yet another share consolidation, ( a huge 1-100 consolidation at that!) it's all just very much business as usual for this share. Nothing changes nor will it ever, just like RRR, unless and until the old BOD is removed from post.

You clearly have a fervent desire to keep pumping these crappy shares. Good luck with that. I will continue to point out the salient facts that you and other rampers consistently fail to highlight to the naïve mugpunters out there. They need all the info to be able to make an informed decision.

The battery metal schtick and other nonsense is for me meaningless as are all the projects over at RRR. Whatever value you perceive there is negated by the fact that the BOD of both companies sap all the value away in salaries and admin expenses at the rate of many £millions. There will never be value left for shareholders imo while ever that situation continues. That's why nothing will ever change until and unless the ENTIRE BOD is removed from post and replaced.

DYOR

Bambos - "They conflate me with a twitter account holder with whom I have no connection.. Their recent posts will be removed and they will get their customary 24hr bans"

I've never mentioned Twitter or any Twitter user, neither have I had any ban. You appear to be the one making things up.

I only know you as Bambos22 both here and on ADVFN, an habitual pumper of RRR and RGM over many years never relenting whilst the SP was utterly destroyed by endless dilution and preposterous amounts expended on admin and other expenses. I pay your "jam tomorrow" rhetoric no heed whatsoever and take my research from the facts which are adequately shown in the annual reports of both companies. All a tale of yearly losses, £millions raised by confetti issues and £millions expended in salaries and expenses. These are for me uninvestable shares.

DYOR

Nothing wrong with investing small amounts Zumore no.

But going on to share chat board to broadcast one's purchase in the obvious hope it will spur others to do likewise is just lame especially when they've shown very little actual confidence themselves in only investing a tiny amount.

lol CDF. £424 quid . . . massive confidence !

There's no luck involved here. The established MO of the BOD is very long standing and results in the same SP destruction over and over. Endless confetti issued, £millions expended on salaries, admin and other expenses.

The Annual Reports do not lie:

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

Total Raised - £16,326,957

Total Admin - £12,770,280

What a joke !

Clear to see where all the money goes. Consequently it remains for me totally uninvestable.

DYOR

Bambos - "Bell and regime of old were clearly out of favour"

lol

So why is Scott Kaintz still here??? Nothing has changed. Still the same old confetti generating dilution pit imo

DYOR

lol CDF Nice try . . . no cigar

One glance at the 10yr chart here tells people all they need to know imo

https://i.postimg.cc/sxCKGZCS/RRR2020-10yr-Chart.png

lol CDF nice try, no cigar

Did you not take a look at the 10yr chart here?

https://i.postimg.cc/sxCKGZCS/RRR2020-10yr-Chart.png

Nuff said

Nothing will ever change with RRR and RGM, both imo lifestyle companies. All they do is issue billions of worthless confetti shares to raise cash and then the cash seeps away via salaries, admin and other expenses. The figures are horrific if you look at each Annual report.

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

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 Admin above - £6,560,120
Total cash raised above - £10,245,634

Just unbelievable. £10m cash raised and £6.5m of it went to Admin !!

They got rid of Bell but left Kaintz here which means nothing has really changed imo.

Scott Kaintz Emoluments RGM (salary, pension etc)

2019 - £82,844
2018 - £91,271
2017 - £113,261
2016 - £91,385
2015 - £81,578
2014 - £55,617
2013 - £58,573
2012 - £37,541

Total - £612,070

Nice work if you can get it . . . . .

So very glad I'm not a naïve mugpunter any more and am immune to the BS ramping that goes on with RRR and RGM.

Half Year Report just last week stated Admin Expenses as £371K for the 6 month period, equiv to £742K for a year !!!

The company doesn't even have a £1m MCAP it's £853K !!

Yet is spending equiv of £742K a year just on bloody Admin ! What a total joke!

As with RRR, for me these are nothing but lifestyle ventures for the personal enrichment of the BODs.

For me, both totally uninvestable

DYOR

Same old same old

Cash in the bank - just £139K
Total Current Liabilities - £2.36m
Admin Expenses - £282K
Other Expenses - £132K

Staff wages, pension etc - £144K, equiv to £288K per year

Directors continue to reward themselves handsomely for abject failure to deliver any shareholder value and for the continued destruction of the share price. Just laughable.

And this from Annual Report 2018
"The entire interest in Melville Bay was sold on 29 June 2018 for £1"

Yet in today's Interim Report as Cgull highlights there are £97,000 of expenses for Greenland. lols

Nothing changes. Company is simply uninvestable imo. As all the reports testify, the lion's share of any monies just goes towards Salaries, Admin and other expenses. The charts simply don't lie. Whether it is 3 months, 1 year or 10 years the charts all show the same SP destruction caused imo by this BOD's relentless running of the company as a lifestyle venture.

See charts here:

https://i.postimg.cc/7hsWGf1Y/RRR3-Charts.png

DYOR