Member Info for MrMagic

Sells at 0.70p today and yesterday. Looks like this will be sub 0.7p soon imo.

This whole set up has become an utter joke. I can not fathom why anyone would buy shares here.

Recent placees of the 125m confetti shares issued at 0.8p must be fuming. No sympathy for them.

So we now have £830,000 worth of CLNs (plus interest at 12%pa) sat waiting to be converted at 0.6p with a deadline of 19th Dec.

Then we have 3.5m confetti shares just issued at 0.7p

And £500,000 worth of new warrants exercisable at 0.7p on top of all the other warrants that are already sat waiting

I'd consider myself a complete mug to buy shares here at any price above 0.6p and if I'd been caught out buying shares recently above 0.7p I'd be selling asap to get back as much of it as possible before the SP drops. A small loss is better than a large loss imo. That's just me, each to their own.

DYOR

No it's not. It's as of 18th May 2020 as the report clearly states.

Courtesy of Noirua on ADVFN

RRR holding stated as only 9,524,914 shares in the Jupiter Annual Report!

Confirmed on page 82 of the Jupiter Annual Report:

Https://www.jupitermines.com/cproot/967/3/20200527%20Jupiter%20Mines%202020%20Annual%20Report.pdf

"Additional information required by the ASX listing rules and not disclosed elsewhere in this report is set out below. The information is effective as at 18 May 2020."

Holding was 17m at the outset of the year.

When they're gone, they're gone. Value lost imo. Can't imagine this will do the SP here any favours.

DYOR

Desperate stuff Helpful. Still plugging away. Placees of the recent 125m confetti shares issued at 0.8p must be fuming.
I have no sympathy for them.

I'll watch the trade list. I'll wager that the 500,000 buy at 0.84 gets cancelled out. Same old.

Another rather desperate "nothing" RNS from Bell. Announcing merely that they have APPLIED for an extra bit of land rather than actually acquired it. Good grief is this what it has come down to? What next, RNS when the window cleaners have been round to clean the office windows??

I can only assume that the placees of the recent confetti issue of 125m shares at 0.8p are underwater and need whatever help they can get to try and get the SP up so they can flip the shares. Just my guess. Mugpunters appear to be few and far between however which is not surprising given the dismal history of this share.

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Sorry Noirua but where does it say the licenses have to be Mining Licenses before the $2.5m becomes payable?

The RNS of 15th June 2018 states:

"In the event of a renewal or reissue of licenses covering the Assets the Company will within three months make further payments, subject to such renewal or resissue not being on unduly onerous terms, as follows: (1) $2.5m payable in cash, (2) a $1m promissory note payable 15 months after issue, and (3) £500,000 of warrants into Red Rock shares at a price 20% above their average closing price on the three trading days prior to issue. "

The licenses have been renewed/reissued have they not?

I'm with pappalazz here. It's worth actually reading the CDC document covering the requirements for sailing:

https://www.cdc.gov/quarantine/pdf/CDC-Conditional-Sail-Order_10_30_2020-p.pdf

Go to page 33 and look at the :

"Minimum Standards for Management of Passengers and Crew from COVID-19-affected Cruise Ships for Restricted Passenger Voyages"

It states that :

"(a) Based on a threshold of COVID-19 being detected in passengers or crew, as determined through CDC technical instructions or orders, a cruise ship operator must immediately take the following actions:

(2) Immediately end the restricted passenger voyage, cancel future restricted passenger voyages until directed by CDC that such voyages may resume, and return the ship to the U.S. port of embarkation.

(3) Immediately isolate any sick or infected passengers and crew in single occupancy cabins with private bathrooms and quarantine all remaining passengers and non-essential crew."

Forgive my scepticism but how are those protocols in any way shape or form different to the Diamond Princess disaster ?

What is this "threshold" number BTW and why is that not stated?

Bottom line is if there are a certain (undisclosed) number of cases of Covid on-board then everyone is getting quarantined to cabin ala Diamond Princess. In my view that means cruising is still a total no go proposition.

Didn't Zumore suggest that the $2.5m payment for the Kenya project was due 2nd November? That's this Monday isn't it?

DYOR

Unbelievable that the large holders are happy to sit by whilst the "crown jewel" holding is relentlessly pawned off. Why sell the Jupiter shares in preference to say the POW shares?
It's akin to asset stripping imo. How many times have the lame rampers tried saying that the Jupiter shares underpin the share price ?

RRR has to find $2.5m for the Kenya venture

Plus it burns through some £47,000 per month just on admin/expenses according to the Half Year Report

There are also £830,000 worth of CLNs (plus interest at 12%pa) that can be converted at 0.6p with a deadline of 19th Dec.

SP only going South imo

Desperate stuff Helpful, but understandable given you're knee deep here and are still holding many of the £830,000 worth of outstanding Convertible Loan Notes convertible at 0.6p (deadline 19th Dec).

This paltry dividend isn't going to change fortunes here and shareholders surely can't be happy with 20% of the Jupiter shares being pawned off since April (if my calcs are correct). How long is Bell going to be allowed to keep cashing those in ? Until they're all gone?!! That's real value disappearing down the drain imo especially if the cash were to be used to pay Bell's preposterous salary, admin and expenses. Shareholders should surely be concerned about that situation imo.

So all in all things don't look good imo.

Placees of the recent 125m confetti issue at 0.8p look to me to be locked-in and underwater.
Loads of CLNs could be converted by 19th Dec which would result in 150m+ more shares being issued at 0.6p.
RRR has to find $2.5m for Kenya
Jupiter share holding continues to seep away, 20% of the holding appears to have gone since April.
Mt Ida clearly going nowhere any time soon

It remains a barge pole for me personally but each to their own

DYOR

So todays RNS tells us:

1. The Jupiter divi is just 1 cent per share. The divi this time last year was 4 cents per share so a 75% drop there

2. The proposal to separate / list the Yilgarn projects states that the new company :

"will work to progress the development of the Mount Mason DSO hematite project as its primary focus in the near term"

So not Mt Ida then which is where RRR has the royalty and so this news isn't remotely encouraging. It will still be many years before they ever do anything with Mt Ida imo.

3. Yet again the company has neglected to state the actual number of Jupiter shares it holds. Reason obvious imo.
The holding numbered 17.02m shares in April according to an RNS at that time. Today's announcement states the holding is now only worth AUD 3.8m and since the ASX currently shows the shares are AUD 0.28, by my calculations that would suggest that RRR now only hold some 13.5m shares. Please do your own calculations to check.

If correct that would mean that since April Bell has pawned off some 3.5m Jupiter shares reducing the holding by some 20%. As I have said many times, once those shares are gone, they are gone. Shareholder value irrevocably lost.
What was the share money used for ? Salaries, admin and expenses perhaps? Who knows?

DYOR

Bid now showing 0.70p above. Does this mean the placees of the recently issued 125m shares at 0.8p are now locked in here?! Not good for them imo.

Only 7 weeks now to that 19th Dec deadline for the £830,000 worth of CLNs convertible at 0.6p.

Surely the company won't kick the can down the road and roll them over for a 4th year running will they ?!!

DYOR

Oh dear Phoenix. How many placing shares have you got that need flipping? Good luck with that.

SP is heading south. imo

DYOR

More large sells at 0.80p and one can only chuckle at the late reported £21k trade yesterday dated 20th Oct showing as always that you can not trust what you see in the trade lists.

Placees for me appear to be selling out for break even. What else could all these sells be? This does not bode well imo.
They are surely expecting the SP to go South to accept such prices. Investors don't participate in discounted confetti placings to then simply sell the shares at the placing price. Most are in it for a quick flip profit. I fear there just are not the volumes of naïve mugpunters out there anymore willing to pay premium prices for confetti shares. If these are placees selling at break even placing price then what does that say about future ability to get placings away? Can't imagine those investors will be keen for another bite at this cherry.

DYOR

I see a couple of trades today of about £12K at 0.80p Another £8k at 0.82. Certainly looks to me like placees are settling for break even placing price rather than hanging around for a quick flip profit. Just my opinion. They presumably think the SP here is going South which with the 19th Dec deadline approaching for the £830,000 worth of CLNs convertible at 0.6p, seems a reasonable assumption imo. Can't see any point buying here until those CLNs are out of the way.

DYOR

lol comedy hour again

Why would anyone want to pay 0.88p for shares in this lifestyle outfit when 125m shares have just been issued at 0.8p ?!
Fooling no-one mate. No way I'll be giving the placees a quick flip easy 10% profit !!

Ramp on old son

It's a deferred "large in scale" transaction. LRGS

I don't personally trust what I see. Why would anyone pay 0.94p for shares when they could have participated in a placing for shares at 0.8p? Makes no sense.

125m shares just issued at 0.8p

Plus there are still £830,000 worth of CLNs (plus 12%pa interest) still to be converted at 0.6p with a deadline of 19th December.

I wouldn't personally pay above 0.6p for shares here let alone the 0.8p placing price ! But each to their own of course

DYOR

A whopping £42K sell from yesterday at 14:09. Sold at 0.71p. Only reported today after 16:19. Same old.

Clearly someone doesn't believe the "Jam tomorrow" rhetoric spouted here.

DYOR

Looks to me personally as if placees are struggling. If they're selling at 0.8p-0.84p then at most they're only making 5% profit. Looks to me as if they just want their cash out but I could be wrong. But a £20k sell at 0.8p seems kinda telling TBH.

I doubt there are many mugpunters left out there willing to take discounted placing shares off their hands. My cash is too precious to simply give it to placees for a quick flip profit imo. They should coco !

I'm guessing the placees might also want to shift their shares as quick as possible before the £830,000 Convertible Loan Notes get converted at 0.6p. Can't see any point buying here myself until those CLNs have been converted. SP will surely drop when it happens imo. Besides there are so many other shares out there right now offering better prospects. Still, each to their own.

DYOR