Member Info for MrMagic

Helpful - "If we have a large seller it might take a while to move up."

But surely we have Peter Gyllenhammar?

Went from 12.93% to 10.96% on 21 Dec

Went from 10.95% to 9.9% on 13th Feb

Still has 60 million shares (as at last holding RNS)

Like I said before. Any rise will likely be sold into. SP going nowhere

"In 2019, Fastmarkets’ Adams expects the market to move into a supply surplus as Katanga and ERG ramp up production."

“We expect artisanal supply to drop as well as scrap supply. All the time, however, we expect strong demand — it is just that the supply response in 2018/2019 will be overwhelming,”

"Meanwhile, Fastmarkets forecasts an average price of US$28 for 2019, with the first half above the US$30 level. Prices will then drop towards US$25 in the second half. "

https://investingnews.com/daily/resource-investing/battery-metals-investing/cobalt-investing/cobalt-outlook/

And there it is. The "jam tomorrow" merchant is on any realistic post like a rash with . . . well . . .more jam tomorrow rhetoric. Looking desperate TBH.

People might want to take a glance at what is transpiring at RGM, Bells other disaster company. Starting to look like its final death throes to me.. 28% down according to LSE. Look at any chart period and it looks catastrophic. 1m, 3m, 6m, 1yr etc etc.

Gotta feel for the old pump & dump merchants trying to flog this. Cleary naff all takers looking at the trade list. I find myself asking why now? Why try pumping at this particular juncture? What's coming??? Is ConfettiEttie about to invent more shares out of thin air? Or are they desperate to flog their shares at this point because they think bad news is coming and thus they need to find mug punters to give the baby to?

Either way, this tired old "get in quick", "jam tomorrow", "don't miss out", "you'll pay more if you wait" Billy BS nonsense just doesn't work any more. Markets have witnessed it too many times in the past imo

The realities here are not imo particularly good. The recent Annual Report was a string of bad news, failed ventures, and questionable management actions. It told us that:

Greenland project, previously on sale for millions, has now been sold for just £1

Shoats Creek venture is now being written off

Steelmin venture is shut down because high electricity prices mean they can't operate profitably

Current Liabilities stated as £2.6m

Admin Expenses were a sickening £849,518 for the year

Other Project Expenses £306,000

As at 30 June there was also £2.2 cash

The report also highlighted that the company, on 19 July 2018 agreed to subscribe for 35,519 common shares in Amulet Diamond Corporation at a subscription price of USD2.76 per common share and further subscribed to USD401,961 of shareholder loans which are unsecured, non-interest bearing and have no fixed maturity or repayment date. The company chose NOT to RNS the above transactions to the markets at the time. Shareholders found out when it was mentioned in Annual Report published months later in Nov !

Small wonder then that the ramp merchants here can do pretty much nothing but try to "big up" the latest "new kid on the block" project which is DRC. And this at a time when cobalt is hugely over-supplied and cobalt prices set to continue falling in 2019 as per the various media articles. Sorry chaps but I just don't buy the jam tomorrow crapola any more.

Buy, hold or sell but definitely DYOR here

lol Helpful, I'm sure they were queuing up !!

Same as they queued up to buy El Limon, and Greenland, and Shoats Creek and Steelmin and . . .

Oh wait !

@shenners

Comedy gold. Nice one.

Riche - "Cash raised from conversions is always useful "

Yep, it'll help fund the appalling c£850,000 this BOD spends on Admin Expenses together with the Jupiter divi.

You would be a fool to buy now for the divi as the spike has already happened. What you make on the divi you would lose when the SP plummets the day afterwards. Pointless. Those that bought in early have 2 choices.
They can sell now and simply take the profit from the spike or they can wait for the divi and then try to sell at as high a price as they can as the SP plummets.

I would heartily expect that most would go for option 2 because for those privileged few only, it is all butter. They get the divi payment and likely will get at least some profit from the spike if they get out quick enough on the day.
The more they can ramp that spike up beforehand the more profit they will make. Smart move really.
Was always the better decision to buy directly into Jupiter rather than buy here because as we have seen repeatedly, no matter how much money RRR gets from Jupiter buy-backs and divis's, not one penny of it is passed onto RRR shareholders !

Starting to look to me like the CLN holders are getting desperate and want the SP at a price they can convert at (>0.8p). Helpful is one such holder. Richemondo yet to confirm.

£910,000 worth of CLNs are still outstanding. Thanks but no thanks, I see no reason to buy at this point to just be diluted with CLNs and to presumably see people like Gyllenhammar sell into any rise. Same old same old here. Same old bunch of people desperate to convince people to buy on "jam tomorrow" rhetoric rather than on actual company achievement.

lol at your silly twitter links Helpful. Broker nonsense. Very telling.

JMS SP has risen because of the divi announcement, You know it, I know it, markets know it.

People come in to pick up the divi, they just need to buy shares before the cut off date. That creates an artificial spike. Once that cut-off date is past I predict most will sell back out and the SP will tank again.

They'll wait a few months until it's almost time for the next divi payment and do it all again. Rinse repeat.

Stunning performance. SP 1.4p a few weeks ago.

200m pieces of confetti at 0.5p issued and now the SP is 0.42p

Pretty much standard going for "ConfettiEttie" Bell !

RRR and RGM long term charts show how SP's have been destroyed elsewhere.

RRR Chart: http://oi66.tinypic.com/166izgp

RGM Chart: http://oi65.tinypic.com/119mow1.jpg

I see the desperados both here and at ADVFN are still trying to sell the dream, peddling the "jam tomorrow" sound bites that have been the main course here for the past 5 years. Mug punters long since seen through it all imo.
Come back when you actually manage to pull anything out of the ground of a profitable commercial nature.

These muppets hyped Greenland in the same way saying rare earth metals were going to be a company changer. £millions expended and last year the project was sold for just £1. You can only laugh.

Same muppets hyped Shoats Creek saying oil and gas would be gushing and income would be fantastic. Now the company is writing the project off. Again just laughable.

Same muppets hyped Steelmin saying 22% of a producing asset would be game changing. A few months later the plant is shut down due to high electricity prices, can't produce profitably. Another laughable failure.

And so it goes on. Project after project. Same muppets peddling jam tomorrow to the naïve mug punters out there.

Now it's the turn of DRC copper-cobalt.

Next year this will be consigned to history and they will be ramping something else. Rinse repeat. Caveat Emptor !

DYOR

Totally wrong imo

How many warrants have ever been exercised here?

PG has been selling and has a long way to go if he wants out. Any news or ramps will be sold into.

Plus there's absolutely nothing to be ramped here in reality. DRC is just a twinkle in the eye. Cobalt is massively over supplied and prices forecast to drop this year.

All the feckless boiler room junkies have is the same old "jam tomorrow" BS which has been rinse repeated endlessly over the last 5 years. No-one takes any notice any more.

Annual report highlighted the state of things admirably. Failed projects being written off, liabilities, huge amounts expended on Admin and loans made on the sly without any RNS.

With all of AIM to go at, there are always going to be better options for traders imo.

SP going nowhere.

As Helpful . . . . helpfully reminds everyone

There are a whole bunch of Convertible Loan Notes still outstanding which can be converted at 0.8p.

The RNS below confirms:

"£585,000 of the Series 1 Notes and £325,000 of Series 2 Notes, for both of which the redemption date is now 19 December 2019, are therefore now outstanding."

https://www.investegate.co.uk/red-rock-resources--rrr-/rns/convertible-loan-notes/201901021318089811L/

Correction: Have CRT mixed up. He is not under 3%

Grateful for the correction on CRT. That said on what basis are you saying that CRT has "sold no shares". The percentage change put him under 3% so no longer notifiable right? He could easily have sold shares since. Do you know different?

On the other issue, you perhaps forget that LSE routinely removes huge swathes of past posts due to storage capacity and/or performance issues. So you'll find that a whole raft of content was removed across all shares.
That's why it's useful to archive everything on a regular basis. Every post made throughout the years.

Hardly any trades here and no surprise really.

Mug punters know that 200,000,000 shares have just been issued at 0.5p.

Why would anyone pay 0.5p or more for shares??? Ludicrous imo.

@FourPrinces

Note also that Peter Gyllenhammar has been selling shares as per Holding RNS 21st Dec here:

https://www.investegate.co.uk/red-rock-resources--rrr-/rns/holding-s--in-company/201812211824273533L/

and here 13th Feb:

https://www.investegate.co.uk/red-rock-resources--rrr-/rns/holding-s--in-company/201902131405149304P/

In addition :

Charles Richard Topham was selling 27th Dec here:

https://www.investegate.co.uk/red-rock-resources--rrr-/rns/holding-s--in-company/201812271607016066L/

and the Cochranes (Stephen, Susan, Thomas & Douglas) sold here 11th Dec:

https://www.investegate.co.uk/red-rock-resources--rrr-/rns/holding-s--in-company/201812111452031469K/

Can't imagine after all the past project failures that the mug punters are going to get over-excited at this "new kid on the block" DRC project. Esp with Cobalt significantly over-supplied and prices forecast to keep falling in 2019.

"Iron ore price facing lowered 2019 forecasting

November saw a weak Purchasing Managers Index (PMI) for China, which was released on Friday. With it came a tumbling of 2019 outlooks falling short of desirable outcomes."

Liberum Analysts recommended that investors stay away from big companies such as Rio Tinto Ltd [ASX:RIO] and BHP Billiton Ltd [ASX:BHP], according to Mr Knights and Mr Davis:

https://www.marketsandmoney.com.au/iron-ore-2019-price-forecast-update/2018/12/03/

It's been 5 months since Steelmin announced that they couldn't operate at a profit due to high electricity prices. It's all gone very typically quiet on the Steelmin front, which for me personally is the RRR trade mark for bad news.
I think some were hoping for good news early 2019 and some kind of announcement that Steelmin had negotiated a new energy deal, but no such news has come even after a full 5 months.

This could be the reason why:

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%."

"Power utility Elektroprivreda BiH (EPBiH) proposed new prices for market buyers, which it says will be well below market prices and slightly higher than those paid by the buyers in 2018."

So even higher energy prices to come. Small wonder there's no news. It would seem to me that Steelmin is a total bust. Steelmin borrowed EUR 3.8m from RRR which they subsequently refinanced with a "Luxembourg Investment Vehicle". They also borrowed EUR 3m from another group of lenders and who knows what other debts they shouldered besides?

Being unable to produce profitably is an unmitigated disaster imo.