Member Info for MrMagic

Funny how Helpful is solely focussing on copper. The DRC project is Cobalt and copper isn't it? A project doubtless chosen to gain a bite of the electric car battery frenzy. Thing is that Cobalt is massively over supplied at the moment even with Glencore being stalled at its mine where Uranium levels are too high. Over supply is expected to continue into 2020/21 and Cobalt prices are set to fall even lower this year despite the prices having already crashed last year.

I guess I could put up numerous links like Helpful does but I think people here are adult enough to be able to Google "cobalt over supply" on their own.

DYOR

I would also highlight again the distinct lack of trades and volume here.

Hardly the sign of a flourishing or popular company imo.

12th Mar - 6 trades
13th Mar - 14 trades
14th Mar - 3 trades
15th Mar - 6 trades
18th Mar - 4 trades
19th Mar - 3 trades
20th Mar - 3 trades

Accordingly I can see why you appear to be concerned and in panic mode.

Again, I can only disagree with you. The Annual Report was a tale of woe and project failures. Hardly something one could describe as "going well for RRR" !

Greenland project, previously on sale for $10m has now been sold for just £1.

Shoats Creek oil project now just being written off

Steelmin venture shut down having announced last Sept they can't operate profitably due to high electricity costs.
5 months on and still no word of them being able to sort a new energy contract. How long does it take?!! Alarm bells ringing for me there. Worse still, electricity prices are set to increase 15% in Bosnia this year. So . . . plant shut down, company sat with very significant debts/loans . . . really doesn't look good to me.

Jupiter divi just announced, much smaller than previous one. About £250k to RRR this time.

That won't come near to covering the astonishing expenditure by this BOD on Admin Expenses which was stated in the Annual Report as £849,518. On top of that there were "Other Project Costs" of £306,666 to boot.

Current Liabilities were stated in the report as £2.6m (as at 30 June 2018)

All in all not exactly a tale of screaming success but rather the continuation of this BOD's trail of failed ventures and their ability to expend crazy amounts on expenses.

"Going well for RRR"? Errrr no, wouldn't agree. Neither are things going well for RGM which looks in a bit of a pickle!

Definitely DYOR

Annual Report here:
https://www.rrrplc.com/wp-content/uploads/2018/11/2018_RRR_AR18_FINAL_Hyperlinks.pdf

Worth a read

luckdog: "I guess Helpful's predictions didn't come true"

Indeed. But unsurprising as it is essentially all just "jam tomorrow" hogwash. There just aren't the mugs left out there any more to fall for such clap trap imo. The methods of this BOD are so well established and the history of SP devastation there for all to see. Helpful is desperate it seems, stuck with some of the £910,000 outstanding Convertible Loan Notes. They're only exercisable at 0.8p so personally I doubt he will ever get a chance to convert them. The CLNs are from Nov/Dec 2017 and were due to expire last Dec but the SP wasn't at a conversion price level then either. The CLNs were kicked down the road for a further year.

Aside from all that the Annual Report was a tale of woe and confirmation of failed ventures which now pass into AB's already full oubliette. It also confirmed that this BOD have expended a colossal £849,518 on just Admin Expenses alone plus a furtehr £306,666 on "Other Project Costs".

I sense that the markets have had their fill of funding Bell's lifestyle. Certainly the actions of large investors over at RGM seem to suggest this. RGM has very significant financial challenges and as a result Bell is now tabling a resolution to request authority to issue up to 2 billion more shares there. The share price has crashed there. WIth RRR and RGM being closely tied it's hard not to expect some outfall here. RRR's RGM shares are pretty much worthless. Helpful will continue to do what he does. Bless him.

Nothing but "jam tomorrow" drivel from the usual suspect here. Most of it utter tosh. I learned long ago not be taken in by such shameless sound bites any more.

This said the feckless ramping is having zero effect here. PIs and markets I suspect are just too well versed in this company and its BOD by now.

Trades here are very sparse:

12th Mar - 6 trades totalling £8,545
13th Mar - 14 trades totalling £23,928
14th Mar - 3 trades totalling £7,568
15th Mar - 6 trades totalling £6,616
18th Mar - 4 trades totalling £2,691

today so far just 1 trade.

All very pitiful. Small wonder Helpful is trying so desperately to pump it posting endless silly links. I personally doubt he will ever get to convert his CLNs.

As for the long post there, some points to note.

The JMS shares will remain in escrow I believe until Jupiter release their Annual Report which is usually June I think so a way off just yet (but "just a few weeks" in Helpful's terms!). Even then I think only 50% of the shares are released at that point but worth checking the escrow agreement on that one. Any notion that AB would sell the shares is imo, just absurd. He sits on the Jupiter board so is highly unlikely to sell them.

Steelmin for me, is not looking good. It's been 5 months since they announced that high electricity prices meant they couldn't operate at a profit That situation isn't going to get any better imo as electricity prices are set to rise 15% this year in Bosnia. See here:

https://balkangreenenergynews.com/electricity-prices-across-the-region-to-increase-by-up-to-40-in-2019/

"Electricity prices for businesses went up in Croatia this year, while hikes have been announced for 2019 in Serbia, of about 20%, and Bosnia and Herzegovina (BiH), of around 15%."

So Helpful's pithy statement " I expect Steelmin to be sorted shortly" just seems farcical to me personally. Believe what you will.

I notice also that he wheeled out the old "Mt Ida" chestnut too. Shameful.

Helpful is well aware that Mt Ida has been mothballed since 2012 and that Jupiter reviewed it last year and still decided to keep it mothballed. When it was originally mothballed the iron ore price was around $120 and in Jupiter's own words they described that as "currently depressed" levels. It stands to reason then that notions of them doing anything with Mt Ida whilst iron ore prices languish at $80 levels is just the stuff of unicorn fantasies, nothing but ramping bait for naïve mugpunters which we have seen trotted out time and time again on these boards.

This kind of rhetoric gets old. Important for people to do their own research and do it well. Ignore the ramping clowns who have pumped this stock and a number of other mass dilution stocks for years whilst their SP's were decimated.

More farcical "jam tomorrow" nonsense Helpful. It never ends does it?!

You previously harped on about Steelmin being sold and how fantastic that would be and how many £millions it would bring in.

The reality is the plant was in production for a few moments before high electricity prices meant they couldn't operate profitably. So now it's shut down and has been since last Sept. Sat with huge debts, many millions of Euros, how is it going to survive? Can't imagine anyone would want to buy it if it isn't a profitable venture and even if they did the offer would surely be bottom of the barrel.

You also ramped Shoats Creek to high heaven. Wasn't that also going to be a game changer?
Now the project is being written off.

So Steelmin and Shoats Creek of course now laughably get consigned to "history" in your ramping world and are never mentioned again. Now you've moved on to the next "new kid on the block" project.

Honestly, it gets pretty old pretty quick.

Ah but rumour has it that Tesla have developed a new kind of battery.

It apparently runs on jam !!

So quids in here.

lol @ Comanche

Nice try . . . . no cigar!

Here also are the amounts expended for Bell's emoluments (salary, fees etc)

AB's EMOLUMENTS AT RRR

2018 total emoluments - £142,965
2017 total Emoluments - £155,243
2016 total emoluments - £126,661
2015 total emoluments - £91,495
2014 total emoluments - £139,008
2013 total emoluments - £154,746
2012 total emoluments - £221,729

and here are his emoluments at Regency RGM:

2017 total emoluments - £109,803
2016 total emoluments - £85,524
2015 total emoluments - £76,461
2014 total emoluments - £76,506
2013 total emoluments - £78,344
2012 total emoluments - £122,598
2011 total emoluments - £85,377

Clear to see who the winners are with this lifestyle business model imo, and it's certainly not shareholders looking at the 7yr charts !

Here are the amounts expended on ADMIN and other expenses over the years:

mounts expended on Admin/Other Expenses

2012 - £2,275,786
2013 - £4,751,948
2014 - £1,563,808
2015 - £1,334,404
2016 - £758,351
2017 - £644,688

Total there £11,328,985

This year, 2018 they expended a colossal £849,518 on ADMIN expenses plus a further £306,666 on "Other Project Costs"

Hard not to agree burningspear.

The long term 7yr charts of both RRR and RGM are almost identical, a tale of total SP devastation brought about imo by a BOD operating a lifestyle business model, diluting shareholders to pay salaries and expenses. The Anuual Report results speak volumes:

Losses posted and funds raised via confetti issues

2012 - Loss of £1,962,882 - raised £4,441,844
2013 - Loss of £22,105,562 - raised £4,103,795
2014 - Loss of £4,113,460 - raised £2,723,861
2015 - Loss of £8,411,541 - raised £2,327,377
2016 - Loss of £283,280 - raised £1,155,323
2017 - Loss of £1,114,213 - raised £300,000
2018 - Profit of £78,120 - raised ????

Total Raised - £15,052,200

Investors would do well to ask "where did all that money go"? How come the company sits today with a tiny MCAP and is still requesting and being granted authority to issue even more shares (up to 400m more this year)?

Financial situation looks dire according to the recent RNS there. Now Bell seems to be looking to dilute his way out of the mess.

https://www.investegate.co.uk/regency-mines-plc--rgm-/rns/notice-of-gm/201903131429507855S/

"That in addition to all existing and unexercised authorities, the Directors of the Company be and they are hereby generally and unconditionally authorised for the purpose of section 551 of the Companies Act 2006 ("the Act") to exercise all or any of the powers of the Company to allot equity securities (within the meaning of Section 560 of the Act) up to a maximum nominal amount of £200,000 "

Nominal share value is 0.01p so that authority would equate to 2 BILLION shares !!

RRR's holding there now practically worthless

Really little interest here it seems. Nothing but a handful of tiny trades every day. Hardly surprising given all the revelations and bad news in the Annual Report.

Some hoped that Steelmin would negotiate a new energy contract to be able to start producing again but it seems not to have happened despite 5 months passing by. Now electricity prices are set to increase 15% in Bosnia this year so it looks somewhat hopeless to me.

RGM is in a pretty poor situation too and now looking to dilute its way out of trouble, requesting authority to issue up to 2 BILLION more shares.

Looking at the 5yr chart here I can see that the next support level is down at 0.4p. With such poor volume I can but wonder whether MMs will drop this back down there to try to generate interest.

+1

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 "

So there you have it. Massive companies in the electric car and/or battery world, all shunning cobalt. It's not the mineral to go hunting for. Wrong horse backed.

Helpful - "Pretty much everything is going RRR's way at the moment "

Lol it must be comedy hour. Just hilarious.

Greenland project now sold off for £1 (prev on sale for £10m)

Shoats Creek being written off

Steelmin project shut down, can't operate profitably and only getting worse as electricity prices are predicted to rise 15% in Bosnia in 2019.

RGM shares held here are now pretty much worthless as Bell's other disaster company has hit the rocks and has severe financial challenges as per their RNS. SP has crashed there.

Current Liabilities were stated at £2.6m in the Annual Report (to 30 June 2018)

Admin expenditure still utterly crazy and sickening for shareholders. Stated in the Annual Report as £849,518

Still £910,000 of outstanding Convertible Loan Notes in the wings

Company still requested authority at the AGM to issue up to 400m more shares here in 2019

El Limon royalties still paltry. Last reported revenue was $13,658 for a quarter. At that rate it will take 37 years to recoup the first $2m of the royalty. Almost a year later and there still hasn't been any further updates on actual revenue received.

Jupiter continue to dish out royalties though much less this time. Nevertheless, shareholders here NEVER SEE A PENNY OF IT. It just goes into the company coffers where it is exposed to the awful expenditure on Admin Expenses.

All in all very much same old. Rampers still have to cling to hopes and dreams and "jam tomorrow" BS instead of actual delivered company performance and shareholder value. I long since learned to ignore all the nonsense they spout.

Over at RGM "Confetti Ettie" has tabled a resolution to issue up to 2 BILLION more shares there !

Like I said, same old.

Dear oh dear

Ramper Helpful now posting articles from 2012 !!!! You couldn't make it up.

Readers should be wary. Helpful owns some of the £910,000 Convertible Loan Notes here which can only be converted at 0.8p or above.

As per the many factual posts and links I provided earlier, the Jupiter Mt Ida project was mothballed in 2012 and remains that way. Jupiter reviewed it last year and still decided to keep it on care and maintenance. RRR's royalty there is of course non-existent. Jupiter would have to find someone to buy the project to be able to realise any value there and that's highly unlikely while ever the iron ore price remains way under the level when Jupiter mothballed the project.

Remember, iron ore prices were around $120 which Jupiter deemed to be "currently depressed" and that's when they mothballed the project.

Be sure to DYOR here and pay no heed to the ramping clowns who will only offer you "jam tomorrow" nonsense.

Helpful - "As you have pointed out the CLN holders can't lose."

And yet here you are, seemingly the last dedicated RRR ramper, posting day in day out, even through the weekends with any facile Twitter comment you can find as if somehow it's newsworthy. The thing is, confident people sit back and wait for the SP rise. Those who have no confidence, simply ramp and pump in the vain hope that mugpunters will buy the shares on the back of the rhetoric rather than on the back of company performance.

In your case, I don't think I've ever seen someone so desperately worried and panicking. You must have gotten yourself in way too deep here. I wonder how your clients are feeling!

Finally here is the commentary from Jupiter's own website today;

"Work on the Mount Ida Feasibility Study was suspended in 2012 also due to economic conditions and infrastructure access, and remains under care and maintenance."

"on November 8th 2012, Jupiter froze further expenditure on the Project, mainly due to the increasing cost environment indicated by the preliminary estimates of the Mount Ida Feasibility Study. This identified higher capital and operating costs than those contained in the 2011 Scoping Study. In light of these estimates, taken together with the depressed iron ore prices and strong exchange rate environment at the time, the Jupiter Board concluded that it was in the best interest of the Company and its shareholders to freeze expenditure on the project until market
conditions improve and uncertainty in delivering key infrastructure to enable the export of magnetite concentrate is removed."

Jupiter's Quarterly Report - 19th Dec 2018
================================

https://www.jupitermines.com/cproot/861/3/20181219%20Jupiter%20Mines%20Quarterly%20Report%20-%2030%20November%202018.pdf

"No exploration or development activities were undertaken at the Mount Ida Magnetite or Mount Mason Hematite projects during the quarter. The Company does not plan to undertake any activities in the next quarter however continues to explore strategic options for both projects’ development potential"

Jupiter's Investor Presentation - Feb 2019
=================================

Mt Mason and Mt Ida don't even get a mention !

https://www.jupitermines.com/cproot/875/3/20190219%20JMS%20-%20Investor%20Presentation%20for%20RS.pdf