Member Info for MrMagic

Take a breath Zumore. If you want a Q&A session then you need to let the other half answer

A lot of ranting there Zumore but I understand the basic sentiment. What AB has done is basically tied projects to significant expenditure from the outset. Whether that is likely to whet the appetites of investors remains to be seen. For example, if they choose to go ahead with the Cobalt venture we know that RRR then has to cough up the following: - Cash payment of $700,000 - £490,000 payable in RRR shares at 0.65 pence a share (i.e. dilution) with attached 5 for 3 three year warrants (1p) - Commitment by RRR to fund $1.2m of exploration expenditure over 18 months to produce a bankable feasibility study ("BFS") on Kamirombe, and thereafter pro rata. If the Kenyan licenses get restored then it's: - $2.5m payable in cash - a $1m promissory note payable 15 months after issue - £500,000 of warrants Each to their own but I don't personally think RRR investors will be that motivated. I mean if you know that RRR will have to fork out $2.5m and all the rest if the Kenyan licenses are restored then would you invest before that news comes out or after the news and after the money has been forked out with any associated fundraise?!

Correction/typo $2.5m payable in cash $1m promissory note payable 15 months after issue and £500,000 of warrants ! and this $50,000 up front

So $3m cash now commited if they ever get through the legal wranglings plus £500,000 warrants thrown in to boot ! That's kinda going to take the polish off any annoucement of the project being brought back imo. Wouldn't the project also need tons of money spending on it anyway?

Since its recent launch on ASX, Jupiter (JMS) has seen its trading volume rapidly diminish. At the same time the share price has fallen from AUD 0.40 at IPO to the current AUD 0.35. On th eopening day it saw 54m shares traded, but in recent days this has now dropped to meagre numbers even below 500,000. For a company with 1.95 billion shares in issue (even though some of those are in escrow) it's a very disappointing situation surely. The lower of these 2 graphs shows the decline in volume. Were this the pulse of a beating heart I think it would be close to flatlining and we'd have a defibrilator on standby ! http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=AU%3AJMS&time=6&startdate=1%2F4%2F1999&enddate=6%2F12%2F2018&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=8&x=40&y=20 So much for all the former hype and waffle from the rather unscrupulous rampers who told everyone that Jupiter would sky rocket to 70 or 80c levels ! Those posters have of course long since disappeared.

Yesterday's RNS stated El Limon royalty revenue now $13,658 for the quarter which is equiv to $54,632 per year. The royalty is a 3% NSR to the value of $2m. At that rate of $54k per year it will take approx 37 years to recoup that $2m ! Any investors here planning on investing for 37 years ?!! We haven't had a formal royalty revenue update since last year when the revenue for March quarter 2017 was stated as a mere $5,048. I wonder if AB will go silent again after this update and fail to provide regular quarterly updates for the rest of the year . . . ?

Hilarious Richie! RNS of 10th Nov 2017 said "the Steelmin ferrosilicon plant . . . proceeds towards an expected January 2018 production start date." RNS of 18th Jan 2018 said "Steelmin forecasts first production . . . in March 2018" RNS of 26th Mar 2018 said "At the time of the 21 February 2018 announcement Steelmin had informed Red Rock that it expects first production to commence in early April 2018." RNS of 30th May 2018 said "ramp-up towards commercial production has proceeded to plan [LOL !]. The ramp up is expected to continue over the coming few weeks" My LOL added to that last one ! Believe what you will but for me this is a classic RRR project progression and succession of changing targets.

The sudden influx of "usual suspects" pumping the share on various boards might suggest that some of the many millions of warrants are about to be exercised. Could be wrong of course. Previously there were 21m warrants exercisable at 0.66p which were due to expire at the end of April 2018. It was obvious imo that they would get exercised before that deadline was up and I was proven right. There remain millions of further warrants, the most relevant at this time being: 8,333,333 exercisable at 0.90 pence expires - 03.09.2018 97,023,801 exercisable at 0.84 pence expires - 13.11.2018 75,000,000 exercisable at 0.80 pence expires - 22.08.2018 (N.B. 1m of the 97m at 0.84p have already been exercised). Most notable then are the 75m warrants at 0.8p which will expire on 22nd Aug. Those holders have about 11 to 12 weeks to exercise them for a modest profit before the deadline lapses. There were better opportunities when the SP was above 1p but I wonder if perhaps they have been holding on for Steelmin production news in the hope that it would boost the SP but unfortunately Steelmin has dragged on and on and thus far failed to get to commercial production though, as ever, it is hoped/expected in the coming weeks. At the same time we have had large investor Peter Gyllenhammar selling down part of his 14% holding which now stands at 9.83% with 50m odd shares remaining. If he continues to sell then it's hard to believe the SP will go anywhere. On the other hand a holdings RNS yesterday saw another investor increase their holding from 4% to 5%. Horses for courses? Aside from all this there remain also the �1m worth of convertible loan notes priced at 0.8p. That amounts to 125m more shares if they are converted and 6m of those have already been converted leaving 119m still to come. Of course they may never get converted. Full list of options and warrants outstanding here: https://www.rrrplc.com/investors/shareholder-information/overview/

Richie: "We are now sitting on �3m of cash" But with what current liabilities Richie? Why is it none of the P&D rampers will make any mention of the current liabilities? Surely any reasonable investor would want to understand the full picture, value of assets, cash in bank, debts and liabilities, behaviours of the BOD, levels of dilution and so on. Is there �3m cash in the bank but with �3m current liabilities? or �2m liabilities, or �1m liabilities? Is there any ramper here willing to openly and honestly talk about the current liabilities? If not why not? Liabilities were �5.3m as at 31st Dec 2017. Approx �2.2m was paid down when Steelmin repayed their loan. So what's left?

Stephen: "the value/ number of shares they own in either declared or non declared listed companies" A curious statement I must say. Are you suggesting Regency have traded shares in non declared listed companies? Wouldn't that be against AIM rules or am I missing something?

Gunner - "Still silence on the assets Magic" Not in the least. Have at it. Greenland, in the oubliette, no buyers except mysterious oligarchs who fail to complete Ivory Coast - 3 licenses applied for years ago, still nothing there. 3 second hand licenses bought, still nothing achieved with those Dbar - went nowhere Cloud Computing - long forgotten Candy Sweets - likewise Colombia - pretty much given away for nothing. Royalties utterly laughable. Jupiter shares - Previously 74m of them once worth over �25m but BOD failed to sell them at their high price and sat on them while the JMS price tanked to a pittance and then sold 40m+ of them for peanuts. Ridiculous. Dividends from Jupiter's Tshipi project - excellent but the polish fades when pitched against the crazy amount the company burns in Admin and other expenses each year (over �600k vs Jupiter's $52k) Mt Ida royalty - pretty worthless at present as it will likely be years before Jupiter pull the project out of mothballs and start producing with it. Steelmin - 22% of a company they thought would be producing at the start of 2018 but which, 6 months later still isn't in production. A private Bosnian company so an illiquid asset, no royalty. Finger in the air for valuation. Shoats Creek - another abject failure. Lots invested, little revenue generated. Field operator Mayan Energy now pulled out altogether. Elephant Oil - . . . . . . ? So, there's the assets. Care to comment on how Jupiter, a multi-billion dollar business with massive world class projects can expend just $52k per year on Admin costs when RRR, a tiddler AIM serial diluter can manage to expend �600k on Admin and other expenses ? It's an awful lot of paper clips is it not??! Ok so that's most of the assets, now, where do you think the current liabilities stand?

Still silence on the liabilities Helpful. Why is it you won't or can't discuss them?

Terrific deflection Helpful, but unfortunately it's not going to wash. No one has disputed the cash that has come in since 31st Dec. JMS divi, Steelmin repayment, Para final sale payment from 2 years ago. The question put to you is what are the current levels of debts/liabilities given that at 31st Dec they were �5.3m ? The pay down of the back to back financing was approx �2.2m which would leave liabilities of �3.1m by my calcs. What do you believe the current liabilities to be at this stage and how much of all this cahs you are so keen to highlight is going to simply go towards paying down those liabilities? Why do you find it so difficult to have an open discussion about liabilities?

"If the loan is extended past six months a payment schedule will be applicable and the payments may be paid in either cash or shares at the discretion of the Company. If paid in shares, the payment amount will be convertible at the lower of (i) the Fixed Price, or (ii) a price equal to 90 per cent of the lowest daily VWAP" Pretty nailed on imo that 90% of the VWAP is going to be lower than the "Fixed Price" of 130% of the VWAP !! Same old same old. Funding with old crony pals Yorkville, lots of lovely dosh going their way in fees and interest, as it always does. Usual BB suspects here and elsewhere will continue to polish the dropsie and engage in spin and half information, as they always do. Trade away, but DYOR.

"Cash must be close to market capitalisation now." Ah back to the old cash in the bank angle eh? Do we need to revisit the discussion about current liabilities then? How much of the available cash will be needed for current liabilities Helpful? As I recall you seemed reluctant to have an open and honest exchange on this. Recap. Liabilities as at 31st Dec 2017 were a colossal �5.3m Since then, following Steelmin repaying their loan to RRR, the company paid off the balance of its own back-to-back financing which was about �2.2m. So that will have left liabilities of �3.1m. There's no disputing the cash that has come in this year but just how much of it is needed to pay off whatever liabilities remain? Do tell . . .

So, a sudden increase in board ramping . . . . . lots of nice round trades appearing (sells), Wracking my brains to remember where I've seen all this before . . . .

Just one example . . . . "Battery That Charges in One Minute Could Beat Tesla in the Race for Tomorrow�s Clean Car" https://futurism.com/battery-charges-one-minute-beat-tesla-race-tomorrows-clean-car/?src=featured "However, we do know that it will be able to hold 2.5-times the energy of a traditional lithium-ion battery and it will charge at a much faster rate. Fisker even suggests that this battery could be charged in as little as one minute." "In addition to these advantages, this mysterious solid-state battery would outprice competitors like Tesla that still use conventional lithium-ion batteries for their electric cars" "should it amount to a commercially-viable product, the lithium-ion batteries that currently power electric vehicles (EVs) could give way to these batteries and EV capabilities and range could seriously advance." The EV battery world is still in its infancy. It's silly speculating about current tech and how much Nickel it uses imo.

The facts are not out there Richie because Tesla have not revealed the specific make up of their cells. It is all supposition and hearsay. Not that it really matters. There are other battery technologies in the piupe line who claim to be much faster at charging than existing EV batteries. It's a growing evolving space and what we see today will be nothing like what actually emerges as mainstream EV power.

More big sells this morning. �15k and an �8k. If these were all Peter Gyllenhammar then there would have to have been further holding RNSs imo. As I understand it, significant share holders have to report every 1% threshold move until they are under 3%. 1% of RRR's 536m shares is 5.36m and there have definitely been more than 5m of large sells since PG's last holding RNS. So who else has been selling? and why?

Isdeer, old fruit, not seen you for some time. How the devil are you?! "should be a nice little earner when it does." Could you explain how it will be a "nice little earner"? No royalty involved is there? And any talk of paying dividends at this stage when they haven't even begun production and when they've borrowed at least EUR 6.8m from various lenders would seem rather unrealistic.