Member Info for MrMagic

And how many £millions and how many years to actually get any of it out of the ground? And to reach any kind of commercial production?

Sad and somewhat telling that the only thing left to ramp here is the next "new kid on the block" project. Everything else having pretty much gone to pot. As per the recent "must read" Annual Report:

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

Shoats Creek project now being written off

Steelmin project currently dead in the water as they can't operate at a profit with high electricity prices

Shareholder loans made to Amulet Diamonds last July that were not announced to the markets via RNS
Loans which are "unsecured, non-interest bearing and have no fixed maturity or repayment date"

Current Liabilities of £2.6m

And the news that this BOD spent a sickening c£850,000 on Admin Expenses last year

and a further £306k of "Other project costs"

Company also requested and was granted authority to issue up to a further 400m shares here at the recent AGM.

Hard to see where the value is TBH. DYOR.

There don't seem to be any takers for the shares here as far as I can see. WIth 200,000,000 shares just placed at 0.5p not surprising imho. There were only 136m shares before hand so a massive increase.

Sells at 0.45p must be a worry too, they are surely selling at a loss unless I have missed something.

Indeed. He used to hold public conference calls but those have since ceased. Most likely imho because on th elast RRR call a director of the Migori project embarrassingly hopped onto the call to ask what was going on with the project. Pretty embarrassing when RRR were supposed to be close partners.

I can't see there ever being any kind of "face the music" events live or via phone calls again. Save perhaps for the AGMs.

I doubt you will be alone.

Nope doesn't answer the question which stands

How much copper does RRR produce?

Since the larger shareholders must have voted for that confetti authority one assumes they won't want to hang around to be diluted. Maybe we will see more sells and holding RNSs?

So it's full steam ahead then for confetti issues.

Resolution 4 gave them authority to issue up to 500m more shares here. Currently 819m in issue.

At today's SP of 0.2p an issue of 500m shares at that price would raise only £1m cash.

Personally I think it unlikely that they would be able to raise money at market price, more likely there would have to be some level of discount offered in which case they're going to be raising much less than £1m.

Is that kind of cash going to be enough to do anything with?

Hard to think so.

The recent Annual Report put Current Liabilities alone at approx. £1.4m

It also stated that Bell spent a whopping £735k on Admin Expenses.

Small wonder Paul Johnson has been selling some of his shares here !

Wasn't asking what people think the value is.

Asking how much ACTUAL COPPER does RRR currently produce?

Simple question. No answers from Helpful predictably

How much copper does RRR produce Helpful?

Either a complete idiot or an extremely poor boiler room muppet. Just take a look at his UKOG ramps. Simply embarrassing TBH.

Sells below 0.5p must surely be worrying no?

ABM was consolidated 100 to 1 taking the SP to 3.25p levels whereupon it tanked and then a huge 200m share placing at 0.5p was done. I can't see how anyone selling at 0.45p levels canpossibly be making profit which would mean they are keen to sell at a loss. I can't see any positive reasons for that. They must believe the SP is going much lower and so are getting out now. Anyone else figure these sells any other way?

How much copper does RRR produce Colin?

Any chance of the current price of Asda sausage rolls while you are at it Helpful?

Agreed Zumore and I think now that the markets and mugpunters are well aware of it. CErtainly the large investors are aware of it. Daniel Sklan for one was not happy about it imo. He sold out his shares some time ago leaving this statement on the LSE RRR board:

"After holding RRR shares for a considerable number of years and seeing my holding drop from over 13% to under 2% and value drop by over 90% due to the constant “fund raising” and issuing of new shares; I have finally had enough and sold all my shares.

Let’s be honest - doesn’t matter how much money RRR receives it will always disappear paying "misc. expenses", directors salaries and investing in white elephants; sorry I meant Elephant Oil and various other ridiculous investments. I simply can’t understand how a business manages to plough through so much money with so little to show for it."

http://www.lse.co.uk/member-info.asp?nick=d_s_

Not even the announcement of another Jupiter Divi is enough to shift this it seems. Worth £252K to RRR but of course shareholders know that the money just slips into the RRR coffers where it is exposed to the ludicrous £850,000 a year expenditure on Admin !

The BOD here have not passed one single penny of any dividends or Jupiter share buy back monies to its own shareholders. #lifestyleoutfit imo. DYOR.

according to LSE figures above.

Problem is large 11% holder Peter Gyllenhammar has been selling his holding, down to 9.9% at last declaration.

Any news will presumably be sold into leaving the SP flat.

Sells at 0.45 and 0.46. Only tiny cash amounts but still. The 200,000,000 placing shares were @ 0.5p. . . .

Gosh it's already 08:39 and we haven't had a Copper price update from Helpful. II'm starting to get the jitters.
C'mon Helpful, is it up or down. Need to know whether to remortgage my house here.

And ABM is 5th from the top of the Share Fallers list here today.

Bell well on form then !

Looks like very little market appetite here. 200m shares issued and the same number of warrants.

Bell & PJ account for 20m of those and RRR's share another 20m. That still leaves 160m shares plus all the rest mentioned in the RNS.

Looking at the trade list here it's pretty thin. A few hundred thousand shares shifted. Not much when 200m were placed. I guess we can expect some major ramp attempts . . . .