Member Info for MrMagic

Lol Helpful

Keep ramping old son and keep clinging to those Convertible Loan Notes you have which can't be converted unless the SP goes over 0.8p. The "ex-wives" club as you call them know the score here all too well as it seems do the markets. The Annual Report contained all the revealing and rather dire facts so no-one needs to make anything up:

Greenland project now sold off for just £1
Shoats Creek project now being written off
Steelmin project a bust, can't operate at a profit
Loans and investment in Amulet Diamonds way back in July 2018 that this BOD failed to report to the markets via RNS
In fact USD401,961 of shareholder loans which are "unsecured, non-interest bearing and have no fixed maturity or repayment date" !! Just great !

Current Liabilities of £2.6m
Cash in the bank £2.2m

but that's quickly burned through when this BOD expends around £850,000 a year just on ADMIN !!

Money from Jupiter dividends going into RRR coffers, not a single penny being passed onto RRR shareholders.

Value of the Jupiter shares here has tanked since they relisted last year.

Top it off with the fact that this BOD at the recent AGM requested and were granted authority to issue up to 400m more shares here and the usual picture is complete.

And all you have to ramp with is the usual "jam tomorrow" crapola for whatever the "new kid on the block" project happens to be. When that goes the same way as all the other projects you'll move onto the next new project, rinse, repeat ad-infinitum.

Definitely DYOR.

Another 2.2m sold for £13k

Got to presume it's Peter Gyllenhammar continuing to dump. What does he know?

With 9.9% holding still to go it's going to be a long haul if he intends to dump the lot.

SP only going one way. Into the 0.50s soon imo..

So Bell has been here 5 mins and already the shares in issue have risen from 136,579,143 to 363,038,101

Just lol

Just waiting now for Bell to use ABM funds to buy RRR shares !

Helpful - "Hey don't believe what I say"

Thanks. I don't, not a single word. You've shown yourself to be an habitual ramper of absolutely dire shares.
You ramped Mayan Energy for years despite the despicable behaviours of the BOD. A company that just kept issuing billions and billions of shares and then had to do a colossal 400-1 consolidation. Yes you read that right, 400-1 consolidation. The SP there was utterly destroyed by the BOD who spent millions in Admin whilst destroying shareholder value.

Your constant attempts to ramp RRR here are as useless as they were on Mayan. The Mayan board has seen some heavy exchanges with you and the other rampers who have been pulled up time and time again.
The "Jam tomorrow" billy BS doesn't work any more. Everyone knows how AB rolls both here and at RGM.

You need to get your money back from the Convertible Loan Notes you bought here. They are convertible at 0.8p.
People should be aware. Currently you haven't a rats chance in hell of converting them, just has you had no chance of converting them last year. Their term was extended for another year so here you are still trying to ramp the SP above 0.8p to make use of them. It's clearly not working.

SP is only going one way after that imo disastrous Annual Report. I can not imagine that any large investor would have been pleased to read what was revealed in there:

Greenland project sold off for £1
Shoats Creek Project being written off
Steelmin ceased operations because it can't operate at a profit
Investment and loans to Amulet Diamonds back in July 2018 that were not declared to markets via RNS
Current Liabilities of £2.6m
Admin Expenses of circa £850,000
Other Project Costs of £306,666

and so on

Now we have large (10%) holder Peter Gyllenhammar shedding shares

Like I said, SP is only going one way

lol Helpful. What a crock of nonsense.

Anyone who took that advice here would have lost their money imo. Look at the chart for god's sake. The SP devastation is palpable:

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

Same poster (d_s_) said the following:

"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."

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

No need to take my word for it either. Here are the last posts of one Daniel Sklan, a former large holder (13%+) who also has a royalty deal with RRR for the Ivory Coast project. Referring to the Jupiter divi here he said:

"£500k...... how long will that last with RRR's over heads. Come on. Be realistic. There is no spike because investors have lost faith in AB / the board.

Jupiter has returned a huge amount more then this over the past 18 months. I have quite a substantial holding in JMS and have be in receipt of these.

What has RRR done with it? Who knows. It is a bottomless pit.

When did RRR last return money to shareholders? When did RRR last do a share buy back?

Despite various income streams and share dilution no share holder has received a penny and really dont see this changing"

Same old pithy "jam tomorrow" rhetoric from Helpful, a guy who has ramped Mayan energy for years despite it's utterly crippling and devastating relentless dilution that has catastrophically destroyed the share price.

The problem with the "theory" that a boost in metals prices should help even incompetent management is that it fails to take account of the spending habits of that management.

Jupiter Mines, an outfit with a huge share of the world class Tshipi mine which is throwing off millions in cash dividends, expended just ZAR 5.6m on Admin last year or in real money about £300k.

RRR, a pretty much failed AIM tiddler with a terrible history of dilution and questionable management, managed to burn through approx £850,000 on Admin plus a further £306k on "Other project costs".

This is a primary reason imo why there is seldom anything here for shareholders. Precious funds always get rinsed through this crazy expenditure nonsense. Jupiter paid approx. a £500k divi to Red Rock last Sept and will presumably pay another one shortly. When that kind of money is spunked away on Admin, you have to ask yourself what's really happening here.

For me, it's nothing but a pure lifestyle venture for the BOD and will remain that way until larger investors boot them out. Until then, nothing will change imo. The same tired old rampers will continue to try and pump the share for their own ends with the same old "jam tomorrow" BS. Thankfully I am immune to it by now. Buy, hold or sell but be sure to DYOR.

Gyllenhammar is selling shares, that's all people need to know. It's been RNS'd so why would anyone need to exchange emails with him? There are numerous reasons he might be selling, none of them particularly positive imo.

1.2m sold at 0.615p

If that's Mr Gyllenhammar still selling then it's going to be a long haul and the SP will end up at 0.5p or lower imo.
From sells at 0.65p to sells at 0.615p in a day. I really think he will struggle to find mugpunters to pick up his shares after that recent Annual Report and it's various revelations. Even the Jupiter divi here is unlikely to do much for the SP imo because everyone knows from the Annual Report this BOD spent circa £850,000 of precious funds on just ADMIN !

Apologies again, wrong chart. Here we go:

http://oi65.tinypic.com/23r9741.jpg

Sorry, here's the chart

http://oi63.tinypic.com/vyukbs.jpg

Again, here is the chart for JMS. Note the same kind of spike seen last Sept when the previous divi was announced. In, get divi, out gain.

Jupiter shares held by RRR are locked away in an escrow agreement from last year and will likely stay there until mid-2019 imo. JMS SP will have long since gone back to previous low levels by then imo.

More misleading BS imo. The JMS SP has spiked because a dividend payment is imminent. Hence the savvy jumped in at the last minute, will wait until the dividend cut off date is passed, take the dividend and sell out again. It's about the easiest money to be made in the market I would think. Of course if that is true then the JMS SP will quickly fall back to 24c levels as soon as they all go scrambling for the door. Too late now to buy into JMS for that divi imo as the spike has already happened. What you would gain from the divi will be lost when the SP falls back.

Horses for courses

Helpful: "What PG should be doing is gradually moving the price up each time he lets them have more stock. If it he did that we would probably be closer to 0.8p."

LMAO. 0.8p. Coincidentally the base price YOU need the share to reach before you can start to think about converting the many Convertible Loan Notes you hold here. Laughable.

PG will doubtless srip feed his sells over time because he won't want his own sells reducing the SP thereby making subsequent sells lose more money. He had 10% of the stock so it looks like the SP is going to see downward pressure for some time to come. Any news will be sold into resulting in the SP going nowhere. Not a great prospect for any prospective buyer.

Face it, the Annual Report revelations were dire and the market knows how this company has operated for the last 8 years. The same BOD are still running the show. Nothing will change. Just the same old tired stooges shouting "jam tomorrow" whilst this BOD makes hay from lucrative salaries, options and £850,000 spent a year on Admin !

Gunner: "I was here @1.3p a very long time ago and lost a couple of k on Greenland "

I guess that would be the Greenland that was previously (cough) on sale for $10m but which this BOD have just sold off for a mere £1 !!! Yep,value right there for RRR shareholders !

You just couldn't make it up here.

Shoats Creek project, massively overhyped by the usual rampers, inc Helpful here who has ramped Mayan Energy for years, is now being written off. Great shareholder value there !!!

Steelmin, touted by the rampsters as a shrewd move by this BOD, now ceased production because it can't operate at a profit. A dire situation to be in when they borrowed EUR 3.8m from RRR (which they refinanced with a Luxembourg Investment Vehicle) and a further EUR 3m from another group of lenders and any other borrowings before or after. Again, great shareholder value there !

Then there's the stealthy investment and loan of money by this BOD to Amulet Diamonds back in July 2018. Loans which "are unsecured, non-interest bearing and have no fixed maturity or repayment date."
This BOD chose not to RNS those loans and investment last July. Shareholders had to find out 5 months later when it was disclosed in the annual report. An appalling display of arrogance and discourtesy from this BOD.

Then there's the El LImon gold mine royalties. A royalty which RRR needs to recoup $3m from but which is currently so paltry every quarter that it will take some 37 YEARS just to recoup the first $2m of it and another 97 YEARS to recoup the final $1m. The last reported quarterly royalty revenue rate was for March 2018 quarter and was just $13,658. Do the math.

Then theres the Annual Report revelation that this BOD expended just under £850,000 on ADMIN this year plus a further £306,666 on "Other Project Costs". An unbelievable sum of money. Maybe the price of paper clips has risen sharply with BrExit looming who knows ?!!

The Jupiter shares are the only decent asset here but those shares have lost over £1.5m of their value since Jupiter relisted at 40c last year. This JMS SP has just seen a little spike because there is a dividend payment coming but the SP will surely sink back down again immediately afterwards imo.

The dividend received goes into the RRR coffers where it is exposed to that ridiculous expenditure on Admin and other expenses. Poor value for shareholders there imo.

Small wonder large holder Peter Gyllenhammar sold a bunch of shares this week !! DYOR and do it well.

Things look pretty grim.

2yr chart here shows the downward trend

http://oi64.tinypic.com/2vdsfgh.jpg

The bigger question is why has he no longer got confidence in the share?

Tish tish Helpful. Poor show highlighting a bit of imo misleading PR puff

"#RRR holding in JMS currently valued at £3m"

The truth is the holding was worth over £4m when Jupiter relisted last year since when it has lost over £1.5m of its value as the JMS SP steadily tanked. rampers here said the JMS SP would rise in multiples. They of course lied as always.

The current little rise in the JMS SP from 24c to 29c is of course down to the fact that Jupiter is about to announce a dividend. Investors buy in, take the divi and sell back out. Using that situation to ramp the holding being worth £3m is pretty disingenuous and lame imo and says something about the share.

Here's the full chart for Jupiter since they relisted:

http://oi63.tinypic.com/5d1la9.jpg

You can clearly see the similar spike that occurred last Sept when they announced the last dividend. Small rise, then everyone sells back out and normal service resumes. In reality then the JMS SP will surely revert back to 24c once the divi cut off date is passed so imo the RRR holding is really only worth around £2.4m, down from £4m when they relisted last year.

The tragedy is that any dividend paid by Jupiter ends up in the RRR coffers and NOT in the hands of actual RRR shareholders who never see a penny of it. Thus far Jupiter have conducted 3 separate share buy-backs which RRR participated in netting over £1m and then they gave out a dividend netting RRR a further £500k+.

NOT A SINGLE PENNY of those bonuses/divis were passed on to shareholders here. Not one penny.

Meanwhile this BOD spews away available monies on ADMIN at the rate of over £850k per year plus "Other Project Costs" of £306k. That pretty much eats up the entire dividend for the year.

Where is the shareholder value????

Big 5m & 1m sells. £39k. Guess someone isn't confident.