Member Info for MrMagic

On the contrary Orion, this company has been successful in mining mugpunters for its endless confetti issues for many years. However lack of trades and a multitude of adverse posters on chat boards suggests that the seam has been completely mined out now.

Lame ramping of Migori isn't going to change one iota here. Nobody was interested in Migori before RRR had its license revoked imo, and nobody will be interested should they manage to secure another. Where will the cash come from? I think I can guess !

DYOR

Apologies for the bad formatting there. Edit function needed here !

I tend to agree Orion. Here's the salient part of that announcement:

"After an exhaustive effort the company has been unable to source project
funding for the development of the Kipushi Project in the Democratic
Republic of Congo (DRC) (see announcement dated 12th July 2019). Whilst we
are not privy to the financier's decision making processes, we believe it is
mainly due to the failing economics of the project in the current environment.
When the project was first introduced the Cobalt price was approximately
$US95,000 per tonne, but now trades at less than $US40,000 per tonne.
Together with the challenging security situation and the yet to be controlled
Ebola outbreak, it has made the DRC a very difficult jurisdiction for the
Company to work in. "

DYOR

and another . . .

Sonnen Launches Industry Wide Initiative For Coblat Free Batteries

Https://reneweconomy.com.au/sonnen-launches-industry-wide-initiative-for-cobalt-free-batteries-in-home-storage-systems-42821/


"Adelaide, AUSTRALIA – 11 April 2019 – sonnen has launched an industry wide manufacturer initiative to push the use of cobalt-free lithium ion batteries for home storage systems to increase awareness for more sustainable materials and longer-lasting batteries. To start with, sonnen will be introducing a trust mark, which will make it clear to customers and installers that its batteries are cobalt-free.

“Our customers are not only taking a sustainable approach when it comes to their energy, but also in the manufacturing inputs of products. As a global leader, we want to send out a clear signal for less cobalt and that greater sustainability is needed. We would like to encourage other manufacturers to adapt their technology for the benefit of the environment and communities,” said Christoph Ostermann, CEO of sonnen."

"Since the company’s founding in 2010, sonnen has exclusively used lithium iron phosphate batteries in its storage systems. Along with the fact that they do not contain any cobalt, independent studies 1,2 have shown that these types of batteries offer greater cycle stability and improved safety."

DYOR

Panasonic plans to develop cobalt-free car batteries

https://uk.reuters.com/article/us-panasonic-battery/panasonic-plans-to-develop-cobalt-free-car-batteries-idUKKCN1IV14Y


"Tesla Inc’s battery cell supplier Panasonic Corp said on Wednesday it is aiming to develop automotive batteries without using cobalt in the near future amid soaring prices of the key battery ingredient. "

"“We have already cut down cobalt usage substantially,” Kenji Tamura, who is in charge of Panasonic’s automotive battery business, said at a meeting with analysts.

“We are aiming to achieve zero usage in the near future, and development is underway.” "

DYOR

Samsung SDI to make cobalt-free EV batteries

Https://www.koreatimes.co.kr/www/tech/2018/02/133_244074.html

"Samsung SDI is exploring ways to manufacture low-cobalt batteries or even cobalt-less batteries for electric vehicles (EVs) amid surging prices for the silver-blue metal."

"According to Samsung, it has raised the proportion of nickel in both batteries to above 90 percent, with that of cobalt at 5 percent.

The firm is now moving to take out cobalt from both technologies."

DYOR

Rampster: "Perhaps you need to ring UBS and explain why you know better?"

Not required. The operators of the world's biggest Cobalt mine havealready declared their position which is that the mine will not be economically viable for the foreseeable. Good enough for me. Your article there tells the bad news. It will take till 2023 to get rid of the Cobalt surplus and it will only become a deficit in 2024/2025.

Seriously who would want to hang around here, a dilution company, for that kind of time hoping for a succesful cobalt project ?!

The news article "EXPECTS" the cobalt price to increase around 60 percent

Glencore are ACTUALLY shutting down the world's largest mine believing the DRC cobalt market to not be economically viable for them at this time

Gosh . . . who to believe ?!!! . . . . . .


Rampster: "Previously your argument was that there was no copper or cobalt at Musonoi"

Really, when and where did I state that? Care to elucidate or perhaps retract and admit you are making stuff up again to make an argument?

Best

For anyone who missed this unfortunate announcement last week:

https://www.ft.com/content/8cd1fd7a-b86c-11e9-96bd-8e884d3ea203

"Glencore to halt production at world’s largest cobalt mine "

There's a massive oversupply of Cobalt which has crashed prices. Glencore can't
operate the Mutanda mine economically in the current climate. News articles say it will take 2 or more years to clear the surplus and for cobalt demand to resume from the electric car battery world.

Oh Dear !

Poor old Helpful starting to get a little fractious there. Understandable as he owns a bunch of the outstanding £900k's worth of Convertible Loan Notes which have already been rolled over a year and which are convertible at 0.8p. Stuck with them it seems, never going to be able to convert them imo. Unlucky.

Ranting about what might be in the ground will not tickle the markets one bit old son.
This company has had its greedy fat fingers in so many pies now the outcomes are always the same. What has RRR ever produced itself from the ground?

Nobody was remotely interested in the Migori project before RRR got its license revoked imo. There was naff all happening. The same will be true if they get the license back. If they have to JV I can't imagine RRR will get good terms. It's in a weak position imo. Probably just another lame future royalty.

Greenland project failed and was sold for just £1
Ivory Coast project failed and went nowhere imo
El Limon project failed, mine practically given away, royalty pathetic
Shoats Creek project failed and is being written off
Steelmin failed and is in Administration
etc etc etc

But hey, off you go and big up the next great "new kid on the block" project. Never mind the astonishing long trail of failed ventures, the next one is sure to be the good one eh????

Fooling nobody I'm afraid. I appreciate you're in a pickle, but this is a dead horse imo.

Cash is imo a big issue and the confetti will be flowing soon enough imo.

The BOD absolutely has to be removed here for anything to happen imo

DYOR

Orion: "As usual Bell always playing catch up -"

It's what comes of constantly trying to jump on the latest trendy bandwagon to generate
another carrot dangling prospect to get the mugpunters to take up the useless confetti.

Mugpunters have all fled now. Ramping squads have all fled too it seems. This one is a total
dead horse. Not worth a penny of a punt. Totally uninvestable imo.

DYOR

Absolutely disgusting dilution on an industrial scale there. It beggars belief that people are still stupid enough to believe these poxy AIM lifestyle outfits. Something desperately needs to be done about AIM and in particular the market abusing sleazeballs that promote these POS companies with endless fantasy ramping.

Regency earlier this year convened a special General Meeting to request authority to issue up to 2 BILLION more shares here this year. That authority was granted. Nuff said imho.

DYOR

Ramper NOIRUA over on ADVFN states in his thread header:

"We all know cash is low or negative at Red Rock due to unfortunate decisions by RRR management"

http://uk.advfn.com/cmn/fbb/thread.php3?id=41561690

A couple of weeks ago he stated :

"Cash Raising a certainty in the very short term"

On 31st July he posted:

"However, what is ignored is the cash position and a need to fund raise, probably quite urgently. Red Rock appears to have broken their own bats on the financial front and the company is hog tied by its own facade. "

Pretty damning stuff TBH

Lack of any volume here suggests markets are in agreement imo.

DYOR

POW currently showing No 13 on the LSE Share Fallers chart today. How many more times will Bell & Johnson put ABM/POW on that board ?

Laughable shareguru

POW issuing confetti just to pay off fees !

Doesn't look good imo

DYOR

Desperate and empty ramp Helpful

Not a great time to be in DRC Cobalt !

GLENCORE PLAN TO CLOSE THE WORLD'S LARGEST COBALT MINE

Https://www.ft.com/content/8cd1fd7a-b86c-11e9-96bd-8e884d3ea203

Cobalt is massively oversupplied, a fact known for quite some time now. Cobalt prices have accordingly plummeted resulting now in Glencore deciding to mothball it's Mutanda mine at the end of 2019.

Glencore now deem their mine to be no longer economically viable in this market and so are closing the mine and putting it on care and maintenance at the end of 2019. You can read Glencore's own words in their Half Year Report on their website.

The various news articles out there suggest it will take 2 to 3 years for the oversupply to disappear and for demand to return from the battery world.

I personally believe more cobalt mines will also have to close. A large outfit like Glencore might be able to survive squeezed profits for a while but I doubt very much whether smaller outfits will be able to.

Not a good time to be mining cobalt it seems !

Http://www.morningstar.co.uk/uk/news/AN_1565114070045560700/press-glencore-to-halt-mutanda-mine-production-at-end-of-2019---ft.aspx

Ramp on old chum . . . .

DYOR

Confetti issued today at Bell's latest company POW, just to pay off fees !

https://www.lse.co.uk/rns/POW/power-metal-issue-of-equity--fgwjo8d8leygvvp.html

Couldn't agree more CGull. So obviously coming imo.

One look at the sudden desperate antics of rampers on the ADVFN boards tells you
what is coming down the line imo. Each to their own though.

With so little cash in the bank as at 31st Dec (just £27k)
and Current Liabilities at that time of £2.7m
and with the BOD spending approx £850,000 just on Admin Expenses a year
and with project costs and "other" project costs

Where is the cash going to come from to keep the lights on and pay Bell's
salary and expenses??

They raised £323k via a dilutive placing since Dec
They also received approx £250k from the Jupiter dividend.

Doesn't begin to scrtach the sides of those liabilities, admin expenses and all
the rest does it?!!

Where's the cash going to come from?

Well, the fact that the BOD requested and were granted authority to issue up to 400m more shares here this year must be a clue imo !!!

Eyes peeled for the (imo) inevitable RNS . . . .

Very glad I don't fall for the ramping nonsense posted here and on ADVFN
I wouldn't personally want to have punted this just to get diluted

DYOR

lol Zumore

Where will they drum $2.5m up from???

Cash in the bank was just £27k as at 31st Dec

Since then they've raised £323k from a dilutive placing at 0.51p
and received approx £250k from the Jupiter dividend.

But Admin Expenses here ran at approx £850,000 last year
plus "Other" project costs at £306k
Current Liabilities were a significant £2.7m at end Dec too !!!

Where's the cash going to come from?????

I think I can guess

Rhymes with spaghetti imo

DYOR

This one was published some time ago:

https://www.technologyreview.com/the-download/611518/a-freshly-funded-battery-startup-aims-to-ease-the-cobalt-crunch/

"A freshly funded battery startup aims to ease the cobalt crunch"

"Conamix, a little-known startup based in Ithaca, New York, has raised several million dollars to accelerate its development of cobalt-free materials for lithium-ion batteries, the latest sign that companies are eager to find alternatives to the increasingly rare and expensive metal."

"Conamix is developing cobalt-free electrode materials that would work in existing manufacturing processes. The company didn't reveal the funding amount, but Bloomberg put the Series A round at $2 million. "

"Tesla's battery partner Panasonic announced last month that it's also working to develop cobalt-free automotive batteries. Others companies like LG Chem, Samsung, and Johnson Matthey are shifting to new chemistries with higher energy density and less cobalt "

Another nail in the coffin for Cobalt, the "blood diamonds of batteries":

https://www.electrive.com/2019/07/15/svolt-presents-cobalt-free-li-ion-battery-cell/

SVOLT presents cobalt-free Li-ion battery cell
===================================

"The battery cell manufacturer SVOLT Energy Technology, which emerged from the Chinese car manufacturer Great Wall, has presented a cobalt-free lithium-ion battery cell (NMx) and the four-element lithium-ion battery cell (NCMA).

According to the company, the cobalt-free NMx cell from the up-and-coming battery manufacturer is no less powerful than an NCM-811 cell. At the same time, the material costs are to be reduced by 5 to 15 per cent and the unit costs of the cells by up to 5 per cent. SVOLT did not mention any further details such as the materials used or the structure of the cell – nor a date for the market launch."