Member Info for MrMagic

Joebop, yes I seem to recall the royalty was confirmed by RRR as being for all ore processed at the mine.

That's not the issue.

The issue is that the royalty revenue is so pitifully low that at the last reported quarterly revenue rate it will take approx. 37 years for RRR to recoup that first $2m of the royalty. For that reason I would guess the markets are not particularly interested in it and maybe don't factor it into the cobblers "sum of the assets" valuations that so many rampers try to use.

RRR has (afaik) only provided 2 revenue updates in regards to this. The revenue for quarter ending March 2017 and the quarter ending March 2018. The lack of regular updates should be enough to make people cautious imo. The mine clearly stopped producing during part of 2017 but I don't recall RRR ever RNSing that salient fact.
When the updates cease on a project it is invariably bad news in my experience.

Since we are now in Sept the royalty revenues for quarter ending June 2018 should be known, so where is the update RNS with those figures?!! My guess is the numbers aren't great.

Helpful: "you know the ones that are not worth having!!"

Still needing to make stuff up Helpful?! Sad TBH

Plenty of 1,000,000 sells and now a late reported 3,500,000 sell at 0.47.

Looks like confetti time to me but that's pure speculation

Helpful - "If you think that the only thing that has value is cash on deposit then you need to stick switching your remaining £250 or so between building society accounts."

Well it's a good job some didn't take the value of the Jupiter shares as a literal value isn't it.

At the point when Jupiter relisted on the ASX the JMS shares held by RRR were worth approx. £4m.

Today their notional value is about £3.6m

So in just a few months those shares have lost nearly half a million in value, which for a company with a tiny £4m MCAP must be significant !

As I said, I'm not so naïve as to assign much significance to the notional value of those JMS shares. With AB having a seat on the Jupiter board it is unlikely that he will sell the shares and the past history of the previous "management" of JMS shares they had is there for all to read.

Helpful - "I am sorry it sticks in your craw but things are going well for RRR"

If things are going well then tell me why there haven't been RNS's to update shareholders on key areas?

1. Why has there been no RNS update on Shoats Creek since partner Mayan pulled out of the venture, relinquishing its 50% working interest there and stating :

"The relinquishment will also protect Mayan from potentially significant Plug & Abandonment ('P&A') liabilities associated with abandoned well bores at Shoats Creek."

Surely shareholders should now be told where this has left RRR?

2. Where are the El Limon royalty revenue figures for quarter ending June 2018? We got the paltry figure for quarter ending March 2018 so where is June? We are now in Sept ! I can only personally assume the numbers are not great.

3. Where are the production figures for Steelmin if it is now in commercial production? Production rates? Production costs? Profits?

Point of note. In English, when you use quotation marks it is typically to quote someone and when you do, it is normal to include actual quoted text rather than just invent your own text.

YOU personally may attribute meaning to the notional value of any investments held by RRR and as everyone has previously seen you are quite willing to pull the old "sum of the parts" sleight of hand in your posts. Not everyone has the same view. Having seen the history of the JMS shares, which I outlined below, I'm very happy to pretty much ignore the notional value of any shares RRR holds, that's simply experience over theory. The sum of parts trick simply doesn't apply to companies like this imo because the "parts" are never straight forward and the likely increase in share issue is never factored in, neither is the past company performance for that matter. Brokers are renowned for pulling this stunt.

And trying to lump RRR and its BOD in the same league as Apple, Twitter or Shell is utterly puerile.

The rest of your post is the usual 90% personal insult which outlines eloquently how keen you are to suppress other's viewpoints that don't gel with your own. However since you are one of the holders of the £1m Convertible Loan Notes convertible at 0.8p I can see why you would want to pump this.

A typical RNS imo replete with terms from usual glossary of woolly statements which noramlly include "expects", "anticipates", "hopes" . . .

"MET expects to sell 59,250 tons of coal for a total revenue of $2,695,440 in September 2018"

Today is the 4th Sept. Why put out an RNS today about what you EXPECT to happen in 3 weeks time? Why not just wait for 3 weeks and then provide an RNS with the actual revenue that was achieved?

Let me think . . . what possible reason could there be for trying to whet appetites and stir the markets NOW rather than wait a few weeks for the actual results . . . . . . . . . . . ?

Helpful: "RRR has shares"

Which sound all nice and fluffy but the reality is that any value in those Para shares means very little until and unless they are actually sold. If AB doesn't sell them then what use are they to shareholders here? Problem is there is a history here of "managing" such share investments.

RRR once held in excess of 74m JMS shares which at one stage were worth in excess of £25m. History recounts that this BOD sold a small amount of those shares at their high price (55c) and then sat on the rest whilst the Jupiter share price tanked over many months and then eventually sold the lion's share of them for an absolute pittance. In my opinion., absolutely awful management of an investment. Why would anyone expect Para shares or indeed any other shares held by RRR to fare any differently? It is after all, the same BOD running the show.

Helpful: "and a royalty. Do the numbers boys and girls."

Ok I'm doing the numbers on this royalty. RRR needs to recoup $2m from the 3% NSR and a further $1 from a 0.5% NSR.

The last reported royalty revenue was for quarter ending March 2018 and was stated as a paltry $13,658

That equates to $54,632 per year so to recoup just the first $2m is going to take . . . .

2,000,000 / 54,632 = 37 YEARS !!!!!

Wow really ?!!! 37 years just to recoup the first $2m of that royalty. Genius !

Anyone here planning on being around for 37 years ?!

Anyone here think RRR will still be here in 37 years ?!!!

Schach - "That's been a good investment for Regency hasn't it ?"

Isn't the definition of a good investment one where the investment has been sold to realise the actual profit?
If so what are you saying?

More large round sells and a huge 2.6m at £13k.

So blindingly obvious what's coming imo but each to their own. Just be sure to DYOR

Good luck Daniel and kudos for the open and honest remarks there. One question remains. Aside from owning many shares here you also originally struck a deal with RRR in regards to the Ivory Coast project. Is that agreement still in place ? I appreciate that the IC project has gone nowhere but who knows what may happen in the future?

lol Schach. Fooling no-one matey. You ramped this up so you could exit, which you've obviously done imo and now you're happy to deramp it to get a low re-buy price. Shameless.

@Booboo

I guess that depends whether AB has to include warrants in any placing deal to entice the "investors".
By my calcs, there is allocation left to issue around 180m shares which could as you suggest be 90m shares with 90m warrants or it just be 180m shares.

However according to Stephen Pearce on Monday that allocation is just for cash placings. He says that:

"The same authority is granted each year for issuing shares as part of a deal"

The shameless rampsters all gone quiet now so presumably they managed to get rid of their shares which was imo all they were after. Same old. I don't fall for that nonsense any more. The round trades are all around 0.50p-0.51p levels so if there is a placing imminent (and I'm not suggesting one is) then that doesn't bode well imo.

More sells today, 1,000,000 and 1,500,000

Drip drip,

Sorry, typo there

10th Aug : 7,500,000 (Nex) should be

10th Aug : 750,000 (Nex)

Well whatever you believe about MM Signals the pattern here certainly reminds me of the patterns we used to see some years ago when people were convinved that placings were being forward sold.

The large round sells over the past few days just keep coming:

8th Aug : 550,000, 200,000, 500,000, 500,000

9th Aug : 1,000,000

10th Aug : 7,500,000 (Nex)

13th Aug : 862,000, 700,000, 1,200,000, 700,000

14th Aug : 200,000 (Nex), 17,100 (signal?)

15th Aug : 500,000, 255,000,

16th Aug : 1,500,000

Of course there has been buying as well but when I see someone selling in large round chunks I start asking myself, "what do they know?"

Lots of large round trade sells, 250,000, 150,000 etc plus the 2,000,000 and 6,500,000 earlier in the week.

Someone dumping or just the large holders drip selling to keep the SP low to prevent warrants being exercised?

Anyone believe in MM code signals? I seem to remember a few years ago "7" or "17" trades had a meaning which invariably often seemed to be born out by an RNS shortly after. I notice yesterday a trade of 17,100 for just £89. Anyone believe in this stuff?