Member Info for MrMagic

lol 20% up with a 40% spread . . . .! lambs to the slaughter.

Watch for the large late reported sell before the bell or tomorrow morning.

And Helpful continue to conveniently ignore all the past failures here. never mind the history eh?? Some of it less that 1 year ago !! Go figure.

Helpful has some of the Convertible Loan Notes here which can only be converted at 0.8p. Unfortunately he's been stuck with them all through last year and then the company extended the CLNs for a further year. I guess he'd love to convert at a profit. Doesn't seem at all likely though imo.

The Annual Report was a catalogue of disasters imo and uncovered the fact that this BOD made an investment in Amulet Diamonds and loaned them money WITHOUT informing the markets at the time. Callous disregard for shareholders imo.

RRR subscribed for 35,519 shares in Amulet Diamonds and also subscribed to USD401,961 of shareholder loans which are unsecured, non-interest bearing and have no fixed maturity or repayment date.

Meanwhile the Annual Report just casually mention that:

Greenland has been sold off for £1
Shoats Creek is being written off

plus we already know that Steelmin are currently unable to operate at a profit
and Kenya is stuck in legal matters

Now Bell has used RRR funds to buy share in ABM, a failed company which he is now the CEO of. According to the recent RNS:

"ABM made a loss of £3.945m in the year to 30 September 2017 and was suspended from trading on 11 December 2018 pending clarification of its financial provision."

Great use of shareholder funds there !!

You have to feel something for the poor old rampers here who must be sat on huge losses. All they can offer is lame sound bites, gripping on till the bitter end. Hope they are being paid well !

Either way Stephen it doesn't alter the POS history and dire track record that this company and BOD have.

It's trail of SP devastation and project failures, one after the other. Countless £millions raised in cash via dilutive placings and yet where is all that money now? Company languishes with a MCAP of just £3m with Current Liabilities stated in the recent Annual Report of £2.6m and with a BOD who nevertheless have expended over £849,000 on Admin Expenses alone. It's a joke.

LMAO FitLike, well called.

One learns here NEVER to rely on the LSE trade listings as trades are frequently reported late. Equally never buy shares just because it "looks like" a lot of other people are buying, that's a sure way to lose money fast imo.

Presumably if those large investors drip feed sells into the market the SP here will continue to tank and remain suppressed for some time.

Over on ADVFN board serial ramper Noirua said:

"It is unfortunate what has happened at RGM. Red Rock hold 1.69 million shares in the company"

and he got this reply:

"Also unfortunate that the JMS shares have lost over £1.5m in value

Also unfortunate that Greenland, prev on sale for $10m, has now been sold for £1

Also unfortunate that Shoats Creek is being written off

Also unfortunate that Steelmin is unable to operate at a profit

Also unfortunate that El Limon royalties will take 37 years to recoup the first $2m

Also unfortunate that Kenya is stuck in legal wranglings

Also unfortunate that Jupiter's Mt Ida project has been mothballed indefinitely

Also unfortunate that Ivory Coast project went nowhere

Also unfortunate that Cloud Computing went nowhere

Also unfortunate that the company had to lower the nominal share price from 0.1p to 0.01p so they could keep doing the placings

Also unfortunate that they also had to do a 25 to 1 share consolidation

Also unfortunate that the BOD spunks away £849,000 on ADMIN EXPENSES a year"

But let's not worry because that is surely all just history and despite the fact that it's the same BOD running the show here the next great project will surely be different won't it? !! DYOR

RGM absolutely tanking. Attempts to take over the company have clearly failed and normal "service" has been resumed. The gravy train rumbles on for the BOD there and of course here too. Barge pole.

The Bell gravy train simply pulled into the sidings, filled up with coal and water after giving a few high net worth investors a brief tour of the engine cab and now off it goes again. Laughable. Look forward to hearing from the HNW's on the boards. Should be interesting.

Same old pumpers shouting "jam tomorrow"

Nobody falls for it any more Helpful. Most rampsters long since left with their tails between their legs. Still most aren't sitting here having purchased CLNs that can only be converted at 0.8p like yourself so understandable the amount of effort you are putting in here to try and save your position and that of any clients you also convinced to invest in this shambles.

The track record of ventures here is there for all to see:

Greenland, previously on sale for $10m, now sold off for just £1

Shoats Creek oil, now being written off

Steelmin Bosnia, now unable to operate at a profit

El Limon royalties, so tiny it will take 37 years to recoup the first $2m !!!

Jupiter share holding here, lost over £1.5m of its value since Jupiter relisted

BOD still creaming in the salaries and managed to burn through a sickening £849,000 in ADMIN expenses alone last year plus another £306k on Other Project Costs.

All this for a failed AIM tiddler with a £3m MCAP !!

Authority now granted for this BOD to issue up to a further 400m shares this year.

It's a gravy train for the BOD, nothing more imo.

Too right Joebop.

Markets clearly not falling for the merry sleight of hand dance. AB steps down as CEO but fails to be ousted by the larger investors so remains on the board. Musical chairs. IMMENSE mistake on behalf of the large investors imho to permit him to remain in any capacity. Reputation is too tarnished imho.

Typo BID = BOD

lol scraping the barrel there Helpful, desperation must be setting in. Given you're stuck holding CLNs here that can only be converted at 0.8p that's understandable though of course you're still getting the lucrative interest from them.

Things simply aren't great here imo.

The Greenland project which a few years ago was being sold for $10m (!!!!) has now been sold off for just £1 Go figure ! Why aren't large investors here up in arms?

Shoats Creek project which the shameless ramping community here said would see oil gushing and be a game changer, has failed abysmally and is now being written off.

Steelmin project, another one greatly hyped by the stock pumping brigade has also failed, unable to operate at a profit due to high electricity prices. That was reported way back in Sept 2018 and we are now in Feb 2019. Why haven't they managed to agree a new energy contract??? Looks worrying. Another one for AB's oubliette perhaps?

The Jupiter relisting on ASX last year also massively pumped by the usual suspects. Way over hyped. It IPO'd at a price of AUD 0.40 and has tanked ever since, sits today around AUD 0.24. That means RRR's shares have lost over £1.5m of value (MCAP here is just £3m) and they remain afaik held in an escrow agreement, unable to be sold whilst all this value slips away. Sure the shares provide a useful dividend for the RRR COFFERS but what use is that to shareholders here when this BOD expend £800,000+ on Admin expenses a year ?!

Any way you cut it this has been a disaster and has been that way for years as this BOD keep manageing to plough through £millions of shareholder money without generating shareholder value. The ever dwindling SP suggests that markets just don't fall for the spiel any more.

AB has just been moved to a NED position at RGM and with Paul Johnson is now heading off to run ABM. He has immediately used RRR funds to "invest" in ABM, perhaps much like he previously used RGM funds to buy RRR shares and used RRR funds to buy RGM shares. Very much same old.

AB also made an investment in Amulet Diamonds last July and didn't to report it to the markets via RNS, not even as common courtesy to shareholders. They found out only this Nov in the Annual Report where the details were then made available. These kind of antics do not engender trust in a BOD that already has given itself a dire reputation through years of dilutive placings, CLNs and other share issues and who have presided over utter SP devastation.

Nothing will change here imo unless this BID are removed and replaced completely.

1750mk1 - "employed to troll in one form or another... "

Always have to chuckle at this old chestnut. It gets trotted out by hapless rampsters from time to time. I mean the mere notion that anyone out there would be moronic enough to actually pay someone to deramp/troll either RRR or RGM, 2 serial AIM failures who have engaged in relentless dilution and whose CEO has presided over utter SP devastation for literally years is just the stuff of fluffy unicorn fantasies. A brief glance at the charts for either company going back to 2010 to current day highlights adequately the fact that these companies deramp themselves as a result of the actions of the BOD.

But hey, if anyone out there IS that dumb then please please let me know. I'll happily say it like I think it is for cash !!!!!

Notable comment in that Twitter link you posted Helpful:

"Just need to get rid of Bell and you’ll be laughing"

Can't help but agree.

This is imo, a failed AIM tiddler that has been run as a lifestyle venture for this BOD for years. Despite having raised many £millions of cash from endless dilutive placings and other issues (£9 million alone in 2013,2014 and 2015) it sits today with a pathetic £3m MCAP and despite this, the BOD are still expending over £800,000 a year on Admin Expenses according to the recent Annual Report !! This BOD have presided over utter SP devastation for years. Their performance was so bad that it became necessary to perform 2 separate Capital Reorganisations within the space of 12 months (Dec 2014 and Dec 2015), one a lowering of the Nominal Share price which enabled placing to continue and the other a 25-1 share consolidation.

Nothing will ever change here imo until and unless the BOD are removed and fresh management are installed.

FLBW - "Fluff"

Yup and another £100,000 of precious RRR funds used for yet another venture (cough)

Shows 6.67% down above.

Markets not falling for the 3 Card Monty here

Helpful - "Hey, ex-wives Para currently up 21%. Surely that is not in the script? Looks RRR can take a profit and let the warrants ride."

Yeah and the money can then be frittered away as part of the £800,000 expended on Admin every year !!!

Shareholder value right there !

Ramp on Stephen

Only those involved in the "take over" or part of the "inner circle" would want any of the existing BOD involved.

Everyone else simply wouldn't want the existing BOD anywhere near it, imo.

The former will of course play it down and tell us everything is going to be spectacular They have of course put pots of their money into it !!! Same old.

FLBW - "The AIM equivalent of musical chairs. The seats simply have different bums on them. Nothing's changed"

I totally agree. Markets are not going to fall for this imo.

What did we have previously? Bell runs RRR and RGM with little personal investment in either for years. But he uses RRR funds to by RGM shares, and equally uses RGM funds to buy RRR shares. Shares which, being the CEO, he can wield in both companies which subsequently helps him at AGM voting time.

So now he and PJ are heading up ABM and immediately we see he's using RRR funds to buy ABM shares.
As I posted on the RRR board, how long before we see them use ABM funds to buy RRR shares to close the loop?

None of this shenanigans is going to change anything. The large investors had a chance here to take over the company, properly oust the old BOD and show the markets that the company is setting out anew.

All they have done is stand on the street corner playing the old 3 card Monty trick. Roll up roll up everybody, I will switch the cards around and you have to find the Bell ! Place your bets.