Member Info for MrMagic

Helpful - "Don't forget that RRR has liquid holdings in RGM, POW, JMS "

lmao !

Liquid holdings for the BOD you mean. Not so long ago 1.5m "crown jewel" Jupiter shares were pawned off by this BOD probably raising around £300k. More latterly they pawned off about half of the RGM holdings.

Now where did all the cash go . . . .. .?

Any shareholder value added? Errr none that I can see. In the absence of any RNS's to state clearly why the money was raised people have no choice but to assume it was for the usual, director salaries and preposterous expenses.

That's where the lion's share of any money here goes as you well know. Only someone like yourself who has his cash locked-in with CLNs that are now rolling on for a 3rd year instead of being paid off could possibly try to make out that the BODs stripping of holdings and/or assets for salaries and expenses is a good thing. What a total joke ! DYOR

The long standing MO of this BOD is so tired and old and predictable now it has just become an embarrassment TBH and the perpetual accompaniment of that MO by pathetic rampers and pump and dumpers equally so. It's now become just one big joke imo. Not a funny joke, just a pathetic one.

The BOD don't even respect the shareholders enough to bother RNSing key events and transactions, it has become that blatant and farcical.

Loans and transactions with Amulet Diamonds were not RNS'd
A £1.1m loan to Steelmin was not RNS'd
Steelmin going into Administration was not RNS'd
The sale of 1.5m "crown jewel" Jupiter shares were not specifically RNS'd nor the purpose of the cash raised

and so on. Just an absolute joke. I'd consider myself a complete fool to buy shares here now because I would be investing totally blind not knowing what other loans or key events had taken place that they weren't RNSing.
The BOD have shown themselves to be completely arrogant and untrustworthy. They have to go simple as.

The Annual Report recently published (to June) stated:

Cash in the back - just £64k

Total Current Liabilities - £2.8m

Admin Expenses - £591k

Cashless, significant liabilities , and still frittering preposterous amounts of cash on admin and other expenses.

It is imo the very definition of an AIM lifestyle company, there for the personal enrichment of the BOD who will simply keep issuing more and more shares at discount while ever the feeding trough remains.

Confetti will be coming of that I have no doubts at all. Helpful will likely be participating to try and claw some of his cash back. I would guess any placing will be done at around 0.20p to 0.25p and the large round sells we've seen in the past week or so, for me personally simply underpin my thoughts. Believe what you will of course and DYOR.

Agreed Duke

So painfully obvious. The usual "nothing" RNS, for me personally can only be a precursor to dilution

Same old Bell

17 Aug 2019 - Poster Helpful
"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."

Anyone who thinks the above suggests this is a good AIM opportunity needs a check up from the neck up imo.

No doubt in my mind that Bell and Co have totally bested Helpful. No serious investor imo would wish to invest big here whilst leaving the original BOD in place as their past record is utterly dire and imo serves only to suggest they run the company as a pure lifestyle venture. Any value that surfaces from time to time is sapped away by the ridiculous expenditures on director salaries and admin and other expenses.

Helpful has had his CLN money locked in here for 2 years now and is now having to endure a 3rd year imo.

His posts like all committed rampers constantly try to focus people's attentions away from the long proven historic track record here saying that it's not relevant to the current moment. I don't agree and I think it's a poor mislead. While ever this same BOD remain in place here there is absolutely no rational reason to expect their behaviours to be any different to how they have been for the past 10 years which is dilute, dilute, dilute, lots of "jam tomorrow" RNSs, pay director salaries, pay expenses, watch the SP crash, then rinse repeat and when it gets bad enough, consolidate the shares and start over.

Bell has already dropped the nominal share value here from 0.1p to 0.01p

He's already consolidated the shares

Over at RGM he did exactly the same and both companies have seen the same catastrophic "death spiral" SP destruction.
RGM has now rinse, repeated all over by issuing gazillions of shares and doing a colossal 1-100 share consolidation.

This is how these AIM directors operate. They only succeed if there exist naïve mugpunters to pay stupid money for the plethora of discounted placing shares that are constantly issued. Thankfully I am no longer that sucker.

I pay no heed to anything Helpful posts here. His situation is well established, his CLNs are locked in for another year and he clearly has a need to pump the stock for his own ends. Up to everyone else to make up their own minds as ever.

DYOR

Posted by Helpful 11 Nov 2017:

"I funded the loan notes and took some personally. You don't know what you are talking about. It is a good each way bet. If things work out I expect to be out end January 18 with a significant profit."

You can only chuckle TBH. I guess things didn't work out . . . . lol

Sorry Helpful but this nonsense commentary won't wash

Your CLNs should have been repaid back in Dec 2018. They weren't, they were rolled over for another year into 2019.
They should then have been repaid in Dec 2019. They weren't, they were rolled over for a third year.
Any way you cut it your cash is locked in there. There clearly isn't the money to repay them which is why they had to be rolled over. The recent Annual Report (to June) stated that Cash In The Bank was just £64k.

El Limon royalty is a joke and you know it. The quarterly payments were previously paltry and meant it would take over 100 years to recoup the full $3m. A bit of an increase in production might reduce that a bit but it's still farcical. The company ceased putting out the actual Quarterly Royalty Revenue in RNSs which was telling in itself.

The hopes, dreams and fantasy projections you cite are meaningless. They said the same things years ago and nothing has materialised. Why don't you tell readers here what the ACTUAL QUARTERLY REVENUE has been for each of the past say 4 quarters???? Won't hold my breath . . .

DYOR

He's locked in, his CLN's haven't been paid back and have instead been rolled over for the 3rd year running. He has a need to convince mugs to buy in here for his own position. A thankful task when most are fully aware of the dire history here, the dire BOD who take crazy sums in director salaries and various expenses and the long trail of failed ventures.

El Limon is totally irrelevant. The royalties are paltry and it will take countless years to recoup the money owed via those royalties. He knows this very well.

Nothing changes here and Helpful and the larger investors have totally shot themselves in the foot by failing to remove the original BOD here. You can only chuckle TBH. Same old same old. DYOR

13.33% down today. lols !

Looking pretty obvious what all the round trades are imo. The savvy will surely know.

Bently - "The directors of these companies need to think beyond lining there own pockets in the short term before everyone realises and they run out of options for there future."

A great many AIM company directors have absolutely no regard whatsoever for shareholders and run the companies purely to generate a lifestyle for themselves. The cronyism with outfits like YA Global have been around for years. RRR and RGM have a long history with YA and also with Cornhill and others. The share lock-ins here are clearly not worth the paper they were written on and shareholders/PI's will doubtless have taken strong note of that.

As I said many times after the recent mega share issue, I would consider myself utterly stupid to have picked up any shares here at any price above the 2.75p placing price and I said too that I didn't think the shares were worth even that. Now the BOD have simply underpinned my beliefs. It's just worthless confetti imo. It's my experience that BOD's like that of RRR and RGM will always keep coming back to the trough for more cash and they can only keep doing that if naïve punters keep paying silly money for discounted shares, buying them on the "jam tomorrow" drivel of multi-bag hopes and dreams.
Both companies were incorporated in 2004, over 15 years ago and yet neither has gone anywhere. They just continued to issue billions of shares and brutally diluted shareholders right the way through.

The RRR gravy train ran into rusty sidings a long time ago. So imo did RGM. The only difference is RGM got rid of the tired old train driver and found a new one and yet remarkably, at the same time, kept the old coal shovelling boy. Nothing has changed that I can see. The train still runs the short piece of track between the 2 stations of CarrotsvilleDangleton and ConfettiCentral. Paying passengers seem few and far between these days. Easy to see why imo DYOR.

A quick look at the trade list shows that since 10th Feb there have been quite a few round trades (shown as sells) at 0.35p/0.36p

200,000 - 198,000 - 400,000 - 498,000 - 448,000 - 200,000 - 275,000 - 200,000 - 2,000,000 - 250,000

Someone trying to dump their holding ? indication of an imminent placing? Anyone?

Same old SuperRoty

Looking at the trades today I see round trade sells at 0.40p and then more at 0.36p. Doesn't look good to me. If there is a confetti placing then I guess it will be around 0.30p or worse.

This for me is a dire company that just dilutes and dilutes with a BOD that take silly money in director salaries and admin and other expenses and a BOD who simply can not be trusted either as they have repeatedly failed to put out RNSs for key transactions and events.

The recent Annual Report (to June) highlighted the poor situation.

Cash in bank was £64k
Total Liabilities were £2.8m
Admin Expenses were £591k

The £1m+ outstanding Convertible Loan Notes were due for repayment last Dec 19th and had already been rolled over for a 2nd year at that point. They were not paid off and instead are now rolled over for a 3rd year.

With the best will in the world I can not remotely see any investment proposition here whatsoever.

On top of that you have some of the large holders (some who post here) saying they might take RRR private . . . . !!

Hence for me it's a total barge pole avoid. DYOR

Yep seems like certain posters are extremely jittery at the moment and desperate to try ramping this long standing dilution company. One can only assume they are holders of the mass of 2.75p shares that were recently issued and which make up about 80% of the total stock. I suspect they are wanting rid of them before any subsequent mega share issues occur.

This share was consolidated on a 1-20 basis in 2015
It has now been consolidated again on a 1-100 basis
It also had its nominal share value dropped from 0.1p to 0.01p a few years back to boot

The shares for me are absolutely not worth anything more than 2.75 and frankly I wouldn't personally even pay that for them because I have every belief that more and more confetti will be issued.

A few weeks ago there were 1.5 billion shares in issue and the company needed to issue over 7 billion more.
They consolidated 1-100 and issued all the equiv shares at 2.75p and so 80% of the total share issue here has been issued at 2.75p. Small wonder you now have certain people trying to pump this POS like crazy.

I would consider myself an absolute idiot to pay more than 2.75p for shares here and give those 2.75p confetti holders a quick easy flip profit at my expense. It would be lunacy imo. So I won't. Each to their own and DYOR.

GoingGoingGone - "This second disposal of RGM shares in the last few days ,Simply shows that their all out of Cash !"

Totally agree but it was already obvious to anyone doing their research.

Last year they pawned off 1.5 million of the "crown jewels" Jupiter shares to raise some cash (about £300k) and failed to specifically declare that they had done this to shareholders and markets. Shareholders had to spot it themselves from 2 separate update RNSs which mentioned the Jupiter holdings and realise the numbers were suddenly different. These were the RNS of Aug 2nd and then one a month later on Sept 9th. They clearly hoped to keep it under wraps but as always there are numerous eagle eyed investors here who spot all these ridiculous antics. In not directly RNSing that sale of Jupiter shares we equally had no statement of why the cash was being raised by pawning Jupiter shares and thus we can only conclude it was to, as ever, fund the trough for director salaries and admin and other expenses.

This continuing trait of this BOD refusing to update shareholders on key transactions and events I find personally utterly despicable and it simply means you cannot trust this BOD at all. They previously failed to RNS loans and transactions with Amulet Diamonds to the markets, they failed to RNS a £1.1m loan to Steelmin and they have even failed to RNS that their 22% stake company Steelmin went into Administration last February. It's totally outrageous and underhanded imo.
No-one now can have any confidence in the BOD and you have no idea whether there is a whole raft of other loans and transactions that have been made behind your back

Cash wise it was always clear to me that they are struggling imo. There are now 4 key signs:

1. The recent Annual Report stated they only had £64k cash in the bank (with £2.8m total liabilities)

2. They cashed in 1.5 million of the Jupiter shares to raise some cash

3. The £1m+ outstanding CLNs due for repayment last Dec 19th had to be rolled over for a 3rd year

4. They have just cashed in RGM shares reducing their holding from 6.50% to 3.77%

This is why there is never any shareholder value in the assets here and why the old con trick "sum of the parts" valuations by rampers are totally irrelevant. Whatever face value exists in the assets, this BOD will always take a huge proportion of it away to fund salaries and admin and other expenses. Simple as. It is and always has been for me nothing but a lifestyle venture for the personal enrichment of the BOD. Thus DYOR and do it well

Typo

Post below should read "the 2.75p shares (which are around 80% of the total issue here)"

i.e. 80% of the total share issue now is comprised of shares that were just issued at 2.75p

Placees appear to be getting extremely jittery. Pulling out all the "Boiler room 101" tactics.

Disparage the realists who know the score here
Tell everyone they have short positions (which is a blatant lie as any short positions are required to be declared legally and there are none on the FSA list)
Yada yada yada

In the end they just want naïve punters to pay stupid money for their plethora of 2.75p shares. Thanks but no thanks I have no intention of buying your worthless confetti. Same posters too that I have seen ramp these companies for years.
Nothing changes.
It's not a new company at all. It's RGM, members of the original BOD are still present, there's just a new man on the board.

There were 1.5 billion shares in issue and they needed to issue over 7 billion more. They consolidated on a 1-100 basis to make the SP look less embarrassing. The share had already been consolidated on a 1-20 basis 4 years earlier in 2015.

Thankfully I am immune to the ramping nonsense these villains constantly put out.

They will imo continue to try and generate SP spikes and will imo continue to fail. Few want to give the holders of the 2.75p shares (which are around 8-% of the total issue here) a quick easy profit. So the SP is going precisely nowhere.
There will be more dilution I have no doubts whatsoever. DYOR and do it well.

Tend to agree regarding the lock-ins. It sets a precedence, a bad one and means that the BOD here can not be trusted. If you're going to dilute shareholders, issue gazillions of shares and do it under the auspice of saying "it's ok, lot's of those shares are locked in for 3 months" and then a few weeks later completely go back on that and release the lock early, then you simply demonstrate to the markets that your word is absolutely worthless and that punters should be very very very cautious about taking anything the company states seriously.

Red Rock had a 6.50% holding here. They have first dumped their holding down to 3.77% and then the remainder are being locked. It's utterly laughable imo.

RGM holders failed to remove ALL of the original BOD here. They got rid of Bell but left Scott Kaintz in place. Big mistake imo. It's obvious to me there are still crony ties between RRR and RGM. Personally I think that situation is untenable if RGM really want to be perceived as having a clean fresh start. At present RGM is still the old RGM and just has a new face on the board. A rather pointless exercise. This situation can not continue imo if the company wants to be taken seriously.

Nothing has changed, RGM is still a mass confetti issuing company selling hopes and dreams with "jam tomorrow" rhetoric. The shares for me are worthless bits of confetti which is why they had to be issued at 2.75p. More dilution will come as night follows day.

DYOR

Duke - "So predictable, lame and simply pathetic ! Where the hell are they going to get money from ?? The only one way they can get money, by sucking in the naïve mug punters and taking their hard earned. Andrew Bell and Paul Johnson will continue doing this as night follows day - Don't get sucked in, it is all bull crap and this company will never ever get anything out of the ground or return share holder value- It is simply a vehicle to provide Andrew Bell and Paul Johnson with large cheques every month - All in my opinion of course but be warned people ."

Yep this, totally

History is there for all to see. Barge pole

Fact:

On 3rd Feb Red Rock Resources (RRR) reported having reduced their RGM holding from 6.50% to 4.91%

Yesterday they reported reducing it further from 4.91% to 3.77%

https://www.lse.co.uk/rns/RRR/holdings-in-company-hwh1pbz1tbah5z1.html
https://www.lse.co.uk/rns/RRR/holdings-in-company-b9kg8yfe719qhcu.html

Hence all the sudden ramping imo. Anyone who falls for the "jam tomorrow" ramping here deserves to lose their money simple as. RGM recently issued a mass amount of confetti shares all at the discounted price of 2.75p such that of the resulting total share issue, 80% comprised of those 2.75p shares. What you have now is a lot of people wanting to make a nice quick flip profit on those shares at the expense of (imo) naïve mugpunters who will be left holding the baby.
Those holders imo have struggled to get their shares shifted at a decent profit and are getting jittery and probably fear they may run into another dilution here before they can shift them. I would consider myself a total mug to buy those shares off them at a premium to 2.75p. Remember 80% of the share issue has been issued at 2.75p. There has been no substantial news and Red Rock has now reduced its RGM holding from 6.50% to 3.77% and will likely put out another holding RNS once it goes below 3% and totally sells out here. DYOR

DYOR

Looks like the boiler room squad have been wheeled in to try and get the plethora of 2.75p placing and other shares shifted onto mugpunters. Same old same old.

get in quick
this will fly
last chance at these levels

God it gets so lame

Over and over this cycle runs with RRR and RGM and all that happens is more and more shares are issued and the SP gets more and more trashed whilst those who got discounted shares are laughing all the way to the bank. I'd consider myself an iidiot to pick up any shares here in excess of 2.75p. I feel for those falling for the pathetic ramping and paying higher prices. They will learn the hard way.

Notable that Red Rock Resources has sold another chunk of their RGM holding. Clearly getting out whilst they can imho.

Follow the ramping drivel at your peril imho. More confetti will come I guarantee it. DYOR.

Agreed Duke. Same old routine that has been tried here for years only these days nobody falls for it. Far too much history and bad rep with RRR and RGM imo. Shares are not worth anything above 2.75p imo. Anyone who pays more thereby giving placees a quick easy profit deserves to lose their money. Just look at the 10yr chart here to see how it rolls.