Member Info for MrMagic

I see a 1.5m sell today and a few 500ks. Guessing this is large holder Peter Gyllenhammar continuing to sell his holding. He's already issued 3 Holding RNSs as he has steadily been dumping his shares, but still has many millions left to sell if he's dumping the lot. SP won't go anywhere imo whilst that is going on. Any news will be sold into. Guessing he doesn't believe Helpful's endless ramping spiel either !!

Helpful owns some of the outstanding CLNs here and likely steered some of his clients into this POS. He thus has a huge vested interest to pump the stock as much as possible. Sad to see but it is what it is. So long as people do their research and don't fall for the ramping BS spiel they will be able to make informed decisions and can buy, hold or sell accordingly.

Helpful - "In the meantime RRR is a sitting duck. There is enough information around for another mining company to able to assess what is there. If the market capitalisation is £4mil what does the BOD do if a bid comes in for say £12mil?"

One could deduce from your statement here that the company and prospects aren't worth anything like your repeatedly crazy valuations. Otherwise the companies would be lining up to take over RRR. They clearly aren't doing.

The historical MO of this BOD is there for all to see. They have presided over years of substantial losses, raised many £millions through dilutive confetti issues and expended horrendous amounts (many £millions) on Admin and other expenses. They have devastated the SP as a result.

Project after project has gone into AB's oubliette, Shoats Creek and Steelmin being the latest ones. This BOD imo show repeated contempt towards shareholders through failing/refusing to notify them of significant events, such as Steelmin going into Administration, transactions and loans with Amulet Diamonds and so on. They simply can not be trusted imo. Any prospects are largely immaterial if a BOD operates in the way these people do.

DYOR

Greenland already sold off for £1

Shoats Creek written off

Steelmin in Administration

Nothing will change here unless/until someone removes the BOD

helpful - "The biggest risk to us making serious money here is that someone comes in and bids a stupid price for the company and the shareholders who don't believe what is happening in DRC accept it. "

This sounds like you're trying to groom investors in preparation for just such an event. Frankly if anyone did try to buy the company I think investors would vote for them in droves no matter what. It would be the only way to get rid of this awful BOD. Nothing will ever change here imo while ever this BOD remain. Just rinse repeat dilution which they have been perpetrating for the past 7+ years to line their pockets.

It can not come as any surprise to anyone any longer imo that the snouts come once more to feed at the trough. This will never change. Why people still fall for the ramping nonsense with these kind of shares I will never know.

As with RGM, SP only going one way.

ConfettiEttie will do what he has always done.

Vulpes pilum mutat, non mores

Still no word on this mysterious debt then . . . .

RNS 29th Mar

"We do not have high expectations here, and have written off our equity and a portion of debt amounting to £256,510.56 "

What is this debt? How much is it in total and why hasn't it been RNS'd (or did I miss it?)

Ideas Helpful?

Note also that the largest supplier of EVs is BYD and they use Iron-Phosphate batteries, which are
"safe, stable, environmentally friendly and ensures a longer lifetime. "

No cobalt!

http://bydeurope.com/innovations/technology/index.php

plus . . .

11 Lithium-Ion Battery Makers That Don’t Need Cobalt

https://www.greentechmedia.com/articles/read/11-lithium-ion-battery-makers-that-dont-need-cobalt

And here's proof that they are already developing cobalt free batteries:

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 "

Writing is plainly on the wall for cobalt.

TDT2 - "It’s unlikely that cobalt will be engineered out of lithium ion batteries entirely in the foreseeable "

I disagree.

TDT2 - "The cobalt is therefore reduced to a much smaller 10% of the cathode but it’s still there. "

Also strongly disagree. Note Elon Musk's comments below, Cobalt is <3%

https://www.theverge.com/2018/6/21/17488626/elon-musk-cobalt-electric-vehicle-battery-science

"Elon Musk tweeted that batteries for the Tesla Model 3 use less than 3 percent of an expensive chemical called cobalt, and the next generation battery “will use none” of the material that some have called the “blood diamond of batteries.”

"Cobalt is a key component of batteries. It’s also the most expensive material in the battery and mined under conditions that often violate human rights. As a result, scientists and startups are rushing to create a cobalt-free battery."

In short, in the world of car batteries, Cobalt is unloved, unwanted and specifically when from the DRC is deemed the "Blood diamonds of car batteries".

The industry is clearly moving away from Cobalt.

WIth support at 0.6p broken the next level of support is at 0.4p.

Large investor Peter Gyllenhammar had over 11% of the shares but has been steadily dumping them. 3 separate Holding RNSs so far from him. Still has many millions to shift if he's intending to sell the lot. A long slow plod that will keep the SP down. Even if there is news one assumes he will sell into it.

lol @ newsletter . . . .

"We believe that"
"We also believe that"
"This potentially will"
"we believe its"
"This has potentially"
"expect to be"
"and look forward to"
"and should be"
"We expect"
"could be considered"

lol

They have a shed !! Well done. And a team of 14 people . . . . the "Core Shed Team" !!!

Priceless

DYOR

Director's holdings

AB - 3.32%

SK - 1.24%

Admin Expenses (as per Annual Report) - £735,697 for the year

Comments from Richard Poulden, CEO of Wishbone Gold during the UK Investor Show on which they discussed Junior AIM Mining companies with AB also on the panel

https://www.youtube.com/watch?v=fam0-SHrDDY

29mins in:

Richard Poulden

"You should look at how much management own of the company, it's very important.

If they only own 3%, they'll go out and raise money to pay themselves as day follows night.

The next thing is you should look at the G and A (General and Admin) costs, tremendously important.

How much money is actually going into the ground ?

Are they paying themselves stupid salaries ?

How much skin do they have in the game

And that really, if you add those criteria to the ones Amanda has just expressed, that will give you the best stock picks."

Wise words indeed !

A year ago :

The issue of 190,909,090 shares raised £1,050,000

Today:

The issue of 400,000,000 shares raises £240,000

Such is the effect of this BOD's running of these companies as (imo) lifestyle outfits.

The mugpunters best suck it up TBH. The company just requested and was granted authority to issue up to . . .

2 BILLION shares here !

So this is but a small taster imo of what is to come. And these 400m shares are raised so this lot can just conduct a strategic review of operations !! lol Great value.

I could streamline your business in 5 mins. Just sack the current BOD, remove their ridiculous salaries and expenditure on Admin Expenses and voila, tons of cash saved. With up to 2 billion to come in total this year, SP only going one way imo. DYOR.

It's actually worse than that imo TDT.

It pretty much doesn't matter whether AIM rules require them to RNS it or not. What matters is that sheer courtesy to shareholders, IF you respect them at all, demands that you keep them informed of things like this.
Transactions and loans with Amulet Diamonds made last July that were equally not RNS'd leaving shareholders to discover in a little paragraph in the Annual Report months later in Nov !! I mean it simply beggars belief TBH.

It is nothing but pure arrogance and disdain for shareholders imo but others may see it differently. I struggle to see how anyone could trust this BOD. Investment demands that you are well informed. If you are not kept informed then you are at a huge disadvantage. imo. DYOR

lol

Any RNS forthcoming from RRR to inform its shareholders . . . . . ? Nah, why break with the habit of a lifetime!

https://beta.companieshouse.gov.uk/company/07734349/filing-history

Dated 13th March !! A month ago !

White car still listed as Active on Companies House

Helpful - "The outstanding royalty from El Limon is a little bit less than $3mil "

Factually true but morally misleading. The last reported royalty revenue reported via RNS was $13,568 for the QUARTER ending March 2018. At that rate it will take approx. 37 YEARS to recoup the first $2m of that royalty and a further 97 YEARS to recoup the final $1m. If RRR is still around in 37 years time I will gladly eat my underpants. And before you post "jam tomorrow" hopes, expectations and dreams about them increasing production and so on, don't bother. Tell us if/when it actually happens. Cheers. DYOR

As at 30th June 2018:

Cash - £2.2m
Current Liabilities - £2.6m

As at 31st Dec 2018:

Cash - £27k !!!
Current Liabilities - £2.7m

Doesn't look good imo

Annual Report confirmed the BOD are still expending (imo) stupid amounts on Admin Expenses, £849,518 for the year plus Other Project Costs of £306,666

Greenland has been sold off for £1
Shoats Creek is being written off
Steelmin is a bust, shuttered in, unable to operate profitably due to high electricity prices
Plus there appear to be more debts with Steelmin which the Half Year Report highlighted:

"do not have high expectations here, and have written off our equity and a portion of debt amounting to £256,510.56 while efforts continue to find a buyer for the business. "

What is this debt? How much in total? Where was it RNS'd?

Overall, doesn't look good. Rampers struggling with nothing but silly copper updates.

lol

Here are 3 companies which have been diluted to oblivion by BODs that have extracted £millions in lucrative salaries and expenses

Red Rock Resources
Regency Mines
Mayan Energy

ABM will imo be no different as Bell is now it's CEO

Vulpes pilum mutat, non mores