Member Info for MrMagic

Zu, the CLN owners will surely want to recoup the money they funded and some. So they will surely be converted. Problem is the warrant holders may also want to exercise their warrants too. For example there are 21m warrants exercisable at 0.66p which expire at end April. Reasonable to expect they will want to exercise soon. There are also 75m warrants at 0.8p and 97m more warrants at 0.84p. Overall there would be 320m shares generated from CLNs and warrants "in the money" which is equiv to 63% of the total share issue today. How likely is it that a spike here would be big enough or long-lived enough for them all to sell into? Any selling will presumably suppress the rise in the first place. Could be a bit of a bun fight as a result. There are probably numerous ordinary PIs/punters out there who bought at much lower levels than todays SP that might also want to sell into any rise or at the least top slice. What kind of news would be significant enough to generate a rise big enough to let all these people sell? They are possibly all hoping that the Jupiter IPO might do it but personally I doubt that singular event who have enough beans to do it.

Maestro - "in dec 18 this will not be trading at 0.8p, thats a fact will be alot higher" and equally In Dec 18 this will not have a mere 510m shares in issue, it will have many many more. There will probably be 800m-900m in issue. Thus what you get in one hand, is taken away by the other.

I think you jump to the wrong conclusion zumore. I've very often seen people's Twitter accounts suddenly appear closed, mostly those of fervent rampers TBH. Those I have seen have basically locked the account off for a few days whilst they remove a number of past posts and then open it up again. I would think AB is doing some housekeeping in there for whatever reason and I predict it will be back soon enough. Thats why I always keep personal copies of everything I see of interest whether it is Twitter or LSE or any other site.

Okenia The discussion is purely about the high level numbers, as Maestro has been keen to understand the 3 primary numbers, being the value of the assets, the liabilities and the cash in the bank. PIs are not privy to the company finances except those published in reports so it's always going to be rough guess work. Thus it's impossible for us to know exactly what the liabilities are at this point because AB may or may not have used available cash to help pay down debts. What we do know is that there were �5.3m liabilities as at 31st Dec according to the Half Year Report and we know from the 21st Feb RNS that USD $3m (approx. �2.1m) was used to clear the Yorkville loan. So those 2 pieces of info leave us with �3.2m of liabilities and �1.6m cash left over from Steelmin's repayment. There are exchange rate charges/differences obviously so all these numbers are approximate. Are you disputing even these basic numbers ? Or are you suggesting there are further events to take into account which would indicate different results?

Maestro - " i no longer want to debate" lol Poor show sir. At least have the decency to admit when you are wrong. The figures are plain and simple. There must be �3.2m of liabilities remaining unless more of the cash received has been paid towards them.

Minor correction, to all recent posts on this topic, the half year report and thus �5.3m liability situation is up to 31st Dec not 30th Dec. I know it makes no material difference but it's good to be accurate.

Sigh . . . . let's take this slowly . . . . 30th Dec 2017 the current liabilities were �5.3m (see half year report) 21st Feb Steelmin repay �3.7m of which �2.1 is used to pay off the Yorkville debt So at this point we have �5.3m - �2.1m = �3.2m of current liabilities and we have �1.6m cash in the bank Does that make sense?

Maestro - "right now we over �2m" If you're claiming that any cash received since 30th Dec is still in the bank then you must also concede that there remains �3.2m of current liabilities.

Maestro, you are correct that since 30th Dec more money has come in from the Steelmin repayment. Steelmin repaid its loan, some �3.7m so there effectively remain �1.6m of debts from that �5.3m. Cash and cash equivalents as at 30th Dec was stated as just �125k. We do know that we are expecting some �550k from the final El Limon payment in April/May And a further �1m from the sale of 20% of the JMS shares IF the IPO goes ahead as published. If those 2 things went towards the debts then they would cancel off that remaining �1.6m of liabilities but would equally leave us with little to no operating cash. But we also have to consider the other costs. The Admin expenses, running costs, project costs and the like which the half year report stated were the equiv of �775K per year. So I guess much will depend on exactly when those liabilities have to be paid off and thus how much liability vs bank cash can be juggled. There are of course also the 201m warrants that are "in the money". If they were exercised they would raise �1.6m of cash at the expense of issuing 201m shares at prices from 0.66p to 0.9p. The CLNs when converted will add a further 199m shares at 0.8p but the cash for those has already been received and used. The question is, will those warrants get exercised when RRR needs the cash? Will the timing be right or not? Without the warrants being exercised it all looks a little tight unless I've missed something in my numbers (which is always possible so please check) I hope this meets better with your expectations of impartiality !

Maestro - "I believe JMS is undervalued at 40c" Yet you didn't go and buy up all those JMS shares being sold privately at 35c on the website I highlighted numerous times ! Ergo, I don't believe your spiel for a second. Maestro - " i see disparity between the mkt cap and balance sheet" But you refuse to entertain the notion that the reasons for the disparity have anything to do with how the BOD operate, how they treat shareholders, how they expend available monies, the way they communicate in RNSs, the extent to which they dilute and so on. Like all shameless rampers you consign those factors to "history" and suggest that history is not relevant which is frankly just laughable. Maestro - "Even if they do nothing the company can function with the jms divi while other assets ripe" The company has just reported that it had liabilities of �5.3m as at 30 Dec 2017. Admin Expenses and various other running costs were the equiv of �775K per year. The company had over �9m in cash from various share issues in 2013, 2014 and 2015. Where is that �9m now Maestro? If they can burn through �9m and have little to show for it then how far do you think the Jupiter payouts will go given they are tiny by comparison? The SP and MCAP are where they are for a number of reasons, and imo, the markets know what those reasons are and hence there exists your disparity. Ramping the same sound bites over and over isn't going to remove that disparity.

Reports states that as at 30th Dec 2017 the liabilities were �5.3m which is up from the �4.8m as at 30 June 2017. Not sure why but I had assumed the liabilities would have been partly paid down rather than increased in that period. On 20th Sept RRR made its first repayment towards the Steelmin loan of $507,156 The company also raised �1m via CLNs to pay down the Steelmin loan and also received $279,945 from the Jupiter buy back and also raised �125,000 via a placing How then have the liabilities gone up to �5.3m instead of being reduced? What have I missed?

Half year report just out states: "In the event the IPO and listing were to proceed" Seems to suggest to me that nothing is guaranteed in this respect.

It's equally for individuals to do DD on how the company operates, how the BOD act, how they treat shareholders, how they utilise available monies, whether they dilute shareholders and to what extent, whether they deliver shareholder value, whether the company makes a profit or loss. But all of that is history and track record, the things you call the past and foolishly choose to ignore. That is why the markets value the share as they do and not the way you do. I have no problem with you taking this bizarre stance but you can't expect the many more experienced investors here to ignore the past as they know it is vitally important here.

Your other key problem is that you are trying to convince people of speculative future values rather than real actual values now. So when you say things like : "receive $3m royalty from para in next few years" You're working on hoped/expected forecasts rather than actual RNS'd production rates and quarterly revenues. The actuals that have been RNS'd are dire and wouldn't see that $3m paid for a ridiculous number of years. "22% of steelmin which is expected to make ebitda eur 10m per annum" More future expectations hopes and dreams. The actual situation is that Steelmin are not yet even producing ! It will be some time before we get any production figures. Why on earth should anyone accept your ramping valuations ? Why shouldn't they wait and see what actual production is achieved ? Even then, given there is no royalty in place where is RRR going to get any revenue from Steelmin? We would have to wait until they are in a position where they can pay dividends or until RRR is able to sell its share of this private company. Little different to Jupiter except that after many years, Tshipi IS now throwing off cash to its shareholders. If people had valued Shoats Creek using your rose tinted forward looking valuations instead of actuals then they would be greatly disappointed with what happened. Show me your numbers based only on actuals now

All you did there was repeat the same old nonsense that you've been spouting endlessly. For someone who claims to have confidence you seem utterly desperate to oppose any factual information posted with these sound bites and half information pieces. It can all be summarised thus: The markets, meaning the City, the brokers, the institutional investors, the fund managers, and presumably many thousands of punters are valuing this stock currently at �5m-�6m. They MUST have reasons for that. Maestro, believes they are all wrong. All of them. They are all missing something that only Maestro can see. Good luck to you. Cash in the bank here means very little to me personally. I know that much of it goes to Admin and expenses, indeed �644k of it last year went on Admin. Much of it goes on projects that fail to deliver value. How much was expended on Shoats Creek? What actual revenue was generated from it? Very little. How many millions sunk into El Limon before it was effectively (imo) given away for a pittance? How many millions sunk into Greenland? What revenue has been generated? How about Texan Oil? Cloud Computing? Candy Sweets? Elephant Oil? Where does all the available cash go? Certainly not into shareholder's pockets ! Not even the Jupiter hand-outs have gone into shareholder's pockets. Are you going to continue to ignore these basic facts? If so, pointless debating further.

Maestro - "warrants and cln these have been factored in" Well that seals your naivety for me. There are 510m shares currently in issue. What you are suggesting is that if we issue another 119m shares at 0.8p, that it will have zero effect on the SP here! That's an amount close to 25% of the existing share issue. What you suggest is ludicrous. As farcical as that notion already is, you're also suggesting that if we : - issue a further 8.3m at 0.9p - and a further 21.3m at 0.66p - and a further 97m at 0.84p - and a further 75m at 0.80p - and raise �1.6m in the process of issuing the above warrants that this also won't have any effect on the SP here ! That's another 201m shares that would be generated at discount to today's SP. What you suggest is simply . . . . . unreasonable nonsense imo. The 320m (119m + 201m) shares above represent an amount equal to 63% of the existing issue. I'm sorry but you are in Dreamsville old son. You don't get to dilute an amount equiv to 63% of the share issue at discount without detrimental impact to the SP imo.

Can someone tell this desperate ramper that we are not talking about 4 years ago we are talking about the present. The �644K was spent in the last financial year to 30th June 2017. It's a similar story most years. Still don't know why he posts here relentlessly and over on ADVFN ramping away when he claims to be confident in this stock. Why isn't he sitting back relaxed, waiting for the rerate he predicts? Bizarre! Who does he work for? Why does he waste his time trying to fool others with cherry picked sound bites? Why doesn't he ever highlight or discuss the dilution that will come from CLNs and warrants? You say you can easily sell here for profit but you've previously said you entered around the 0.9p level so you'd be talking about 10%, probably less after transaction fees. All this fervent ramping for 10% ?! Really? The SP is currently way overvalued imo because there are another 119m shares coming at 0.8p from the CLNs and a further 201m to come from the "in the money" warrants. SP should be around 0.85p-0.9p imo based on the existing �5.5m mcap.

DesperadoRampster - "Maybe the market will realise just how cheap the company is," I suspect the markets are very well aware of how this company operates and what "value" there is in available cash. DesperadoRampster - "Current cash levels will be in excess of �2m, another �1m . . . blah blah" As I have highlighted before these numbers are tiny compared to the �9m+ that the BOD raised in 2013, 2014 and 2015. What shareholder value was delivered from that huge amount of cash? Still waiting for an answer. Your silly sound bites aren't going to change the BOD here. They've had tons of cash before and, imo, expended it without delivering shareholder value. DesperadoRampster - "The divis from jupiter can cover our admin expences." You say this as if it's a good thing !!!! FFS the company spent �644K on admin expenses last year, for 4 directors and 1 admin employee. That's near �54,000 EVERY MONTH on admin. Where is the shareholder value there?! That the Jupiter payments had helped to cover this is nothing to celebrate. It's shareholder money that should be adding value instead of being p'eed away in expenses. What should happen is those expenses be ruthlessly culled. You're obviously in too deep here.

panda1 - "Why is Peter Gyllenhammar sellling?" Doesn't really matter why imo. He IS selling, that's the salient point. A large investor, who had over 13% and we've now had 2 holding RNSs from him both reductions in his holding. With the Jupiter IPO soon to come it is extremely odd to be selling at this point unless all the ramping spiel is just Billy BS hot air ! I remember the Mayan ramp crew (some of which post here) trying to play it down when one of Mayan's largest investors sold down. All the usual excuses followed, top slicing, needs the money blah blah. A few weeks later a devastating heavily discounted placing dropped. Never ignore large investors selling imo.

Labrat as usual running rings around the feckless ramp squad here. The poor "in too deep" rampsters should get out more, instead of constantly whittling about their holdings and as Labrat suggests, worrying about the next dilution, the kind which Mayan has now established itself a firm reputation for. Get out there, see the sights, go visit some serene picturesque places, go visit some churches, lovely places they are, all those saints and brides etc !