Member Info for MrMagic

So every time John Boardman makes a ramp tweet about RRR and DRC you're gonna post a link here?

Seriously? And you deem that to be newsworthy?!!

Desperate

https://business.financialpost.com/investing/these-battery-skeptics-think-cobalt-and-lithium-prices-are-overcooked

"In the case of cobalt, supply will exceed demand by 652 tons this year, and that will widen to 20,842 tons next year, Wood Mackenzie Ltd. forecasts. The surplus is expected to send prices tumbling to an average of US$62,502 a ton in 2019, down 23 per cent from the forecast for this year, according to the London-based research and consulting firm. By 2022, the price will average just US$44,585"

It was way back on 14th Sept when Steelmin announced that the current high electricity prices meant they couldn't operate profitably and so shut down. That was over 5 months ago.

It pretty much beggars belief that they couldn't in 5 months negotiate and secure a new long term energy contract at a price that was favourable. I sense therefore that there must be bigger problems. Won't hold my breath for a company update though !! Looks like another failed project for AB's oubliette to me.

"Prices slump as 2019 bearishness filters through to international metal market "

"Global cobalt prices came under mounting pressure in December, with the bearish outlook for 2019 and forecast oversupply showing no signs of relenting and sellers rushing to get stocks off their books ahead of the year-end.

https://www.metalbulletin.com/Article/3852524/COBALT-MONTHLY-REVIEW-DECEMBER-Prices-slump-as-2019-bearishness-filters-through-to-international.html

Doesn't auger well imo

hmmm I read elsewhere that Steinepreis hasn't been selling, it's just his holding has been reduced by the massive dilution.

cherryburn: "Looks as if he cannot wait to get out of this share"

Well, turns out that large investors are selling their shares in every company that AB is chairman of.

At RRR, Peter Gyllenhammar has been selling

At RGM, Paul Johnson has been selling

and here it's David Steinepreis

You have to figure there's some basic reasoning there.

Yep I tend to agree Zumore.

Kicking the CLN can down the road for another year just means RRR have to pay 2 years of interest instead of one. More shareholder money wasted imo.

Outlook is one of over supply and falling prices

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

"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. "

"£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/

Agreed at recent AGM

"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 £40,000"

Nominal share price is 0.01p so this equates to up to 400m shares (606m curr in issue)

AGM resolutions can be found at the end of the Annual Report here:
https://www.rrrplc.com/wp-content/uploads/2018/11/2018_RRR_AR18_FINAL_Hyperlinks.pdf

Jam tomorrow Helpful, no-one is interested any more imo. Come back when something actually comes out of the ground that is commercial.

Shoats Creek taught us this surely. Copius amounts of ramping from the usual shameless muppets here, oil was supposedly going to be gushing and not just any oil but high grade Louisiana Light !! Turned out to be yet another RRR damp squib which is now being written off. Farcical.

Then of course we had Steelmin, again ramped to the heavens by the same feckless rampers with tall "jam tomorrow" tales of how game changing 22% of a commercially producing Steel plant would be. The reality? Plant is shut down because high electricity prices mean they can't operate profitably. Again, utterly farcical.

So here you are again, with jam tomorrow tales of DRC Copper and Cobalt. Same old, same old.

I don't believe punters are interested any more and the lack of volume suggests I am right. Bell is simply jumping on the Electric Car Battery wagon imho. I doubt personally that anything at all will be produced that is commercial but I have no doubts the usual suspects will grossly over-hype the prospects and value as they always do. The same cretins said the Jupiter SP would 10 bag shortly after relisting. They were wrong, as I knew they would be. The Jupiter SP just tanked ever since they relisted and only the recent announcement of another dividend has been able to give the SP a short temporary spike.

Not looking too good for cobalt

https://seekingalpha.com/article/4243918-cobalt-miners-news-month-february-2019

"The past month saw cobalt prices fall again. Reports have now surfaced saying that cobalt oversupply has occurred as a result of unexpected excess new DRC supply coming online in 2018."

1 Year Cobalt Chart shows how prices have tanked:

https://static.seekingalpha.com/uploads/2019/2/23/saupload_GraphEngine.ashx

Not looking too good for cobalt

https://seekingalpha.com/article/4243918-cobalt-miners-news-month-february-2019

"The past month saw cobalt prices fall again. Reports have now surfaced saying that cobalt oversupply has occurred as a result of unexpected excess new DRC supply coming online in 2018."

1 Year Cobalt Chart shows how prices have tanked:

https://static.seekingalpha.com/uploads/2019/2/23/saupload_GraphEngine.ashx

@Slapper

New account, 5 posts, all of them about me, not one making any statement about the company or its track record . . .

How have you been Vini, we have missed you !

Seems that in every share Bell is CEO of we have large investors selling down.

Here at RRR we have Peter Gyllenhammar selling down some/all of his 11% holding. Last reported at 9.9%

At RGM we have Paul Johnson selling some of his shares

And at ABM, the new trough for the snouts, we have David Christian Steinepreis reducing from 8.06% to 5.03%

Have the markets finally had enough of the Bell gravy train? Confidence seems very low imo.

That's probably what you get when you go off making investments and unsecured loans to other companies without RNS'ing it to the markets. Just no regard for shareholders at all. Jupiter divi announced and yet this share goes nowhere. Unsurprising when Bell and Co are expending crazy amounts (c£850,000 a year) on bloody Admin Expenses. Just a total joke imo.

What's interesting is that most of these same characters were saying similar things in regards to all the former projects here. They counter Greenland and Shoats Creek as valuable assets trying, as they continue to do now, to demonstrate their "sum of the parts" theories on valuations. Those valuations have never proven anywhere near accurate or close to being accurate. That is because their sums never include the increase in shares nor take into account the track record and actions of this BOD. Hence we have just seen in the annual report that Greenland has now been sold off for just £1 and Shoats Creek is being written off. Steelmin is also currently a bust due to high electricity prices. Whatever the CEO or anyone else thinks is in the ground is largely irrelevant imo. What matters is how many £millions it would take to get anything out of the ground and how many years to achieve it.

Meanwhile this BOD continues to burn through precious cash at the rate of circa £850,000 a year just on Admin Expenses. That swallows up the Jupiter divi pretty much. What other meaningful income is there?????

Same old "jam tomorrow" rhetoric from Helpful. Readers might want to look at how long he has also pumped Mayan Energy whilst it's BOD decimated the SP. In the space of 1 year their former CEO took the share issue from 10 billion to around 300 billion, just astounding, and along the way they performed a 400-1 consolidation. Yes you read that right, 400-1 !!! Poster Helppful has continued to ramp that share right the way throughout and continues to do so. The SP has been utterly devastated.

Readers should also note that Poster Helpful owns some of the £1m Convertible Loan Notes that were issued late 2017 and which were rolled over for a further year. They are convertible at 0.8p.

Captain: "when the same narrative gets repeated endlessly it becomes tiresome."

You're not wrong there and it's pretty much been 5 years of the same shameless "jam tomorrow" ramping by pretty much the same relatively small bunch of lickspittles. The narrative is always the same, conveniently ignore all the dire history of mass dilution, SP devastation and imo blatant disregard for shareholders and just ramp whateve rthe latest "new kid on the block" project is at the time.

To be fair very very few fall for that narrative any more. The dire trading volume is testimony to that imo.

You have poster Helpful here who is a long term ramper of Mayan Energy, another mass dilution share that has seen billions and billions of shares issued and the SP utterly destroyed and he promotes this in similar fashion.

Over on ADVFN you have Noirua who peddles cherry picked half information which would mislead the unwary. Absolutely shocking stuff over there.

The thing is when a BOD devastates a share price over a long period the share and BOD alike inevitably gain a dire reputation and more and more people who have been burned feel more inclined to post their views on the boards to "say it like it is" in their eyes. Shares with lots of those people are clearly not good ones imo.

Assets are worth only what someone will pay for them. Look at RRR and Greenland. A project that was (cough) previously on sale for £10m. Has now been sold for just £1.

Large holders here should have ousted the existing BOD end of. For whatever reason they didn't or couldn't. Now they will have to live with that mistake imo.

The fact that they all agreed to let the BOD issue a shed load more shares should be fair warning to all. For me it suggests they feel dilution (for everyone else) is the only way they will get their money back. Good luck, they are going to need it !!

I for one won't be falling for the inevitable ramp campaigns as they try to get boat loads of shares foisted off onto mugpunters. SP only going one way imo.

Last one out turn off the lights please.

LatestStooge: "Why do you constantly repost the same points about Shoats creek, steelmin, etc "

Because they are facts that people need to be aware of.,

A million useless posts about the price of copper and you don't bat an eyelid? Hmmmmmmmm