Member Info for MrMagic

Oh my aching sides ! Stop it please ! They aren't even producing and production expectations have slipped from Jan to March. Come March we'll likely get another RNS with another new target imo. When they eventually start producing (if they do) then we'll be sat like mushrooms for months waiting for some firm production figures just like Shoats Creek where it all went suspiciously quiet until they eventually published the (by then very obvious) bad news. Markets are clearly not buying into your ramping nonsense. 5% down today and will imo drift further when the next load of confetti is issued. Plus those 21m warrants @ 0.66p likely to be cashed in before end April.

If Steelmin were worth anything significant then they would have been able to easily secure finance from a mainstream lender wouldn't they? Instead they had to borrow money from RRR, not a lender and not a company that had money to lend and who in turn had to go borrow money from YA to then loan it to Steelmin. What part of that entire situation doesn't sound utterly ludicrous to you?! In effect here all that has happened is that RRR has raised a load of cash via the issuing of lots of CLNs with warrants (same old same old) and later down the line they may hopefully get the cash back from Steelmin. As always the BOD are in clover and the lowly shareholders suffer the confetti.

The MCAP is essentially the value of the Jupiter holding less value knocked off imo for the ways in which the markets perceive money is expended by this BOD. The Jupiter shares being the "crown jewels" are extremely unlikely to be sold imo. The Steelmin situation isn't imo looking great at this point with both loan repayment targets and production start targets both having slipped. I find it hard to believe Steelmin won't just extend the loan by another 8 months which, if I am right, will mean RRR has to find cash to keep paying down the YA loan.

Can't say I've seen �140k's worth of trades in the past month or so at the 1p level. That would surely have pushed the SP up. How is it you know what holding and average Maestro has?

maestro - "�140K worth of shares" of course you have lols Where's your TR1 then as thatmuch investment would be over a 3% holding ?

21,315,971 warrants exercisable at 0.66 pence - expire 28.04.2018 Only 3 months left for these warrants. Surely they will be cashed in soon?

Still not seeing any buys from you Maestro. What gives?

For that matter, why didn't Steelmin just go direct to Yorkville to borrow the money instead of borrowing from RRR who then in turn had to borrow off Yorkville? Why couldn't they borrow off other mainstream lenders?

"Steelmin furnaces use to be in production prior to Bosnian war" Yep and El Limon had been producing for many years before RRR got hold of it. Where is it now?! "The first furnace is expected to be in production in March" When you can make a sentence without the words "hoped", "expected", "anticipated" then come back to us. The "jam tomorrow" approach doesn't work here, only real actuals count. Right now, no production. "it can get extended to another 8 months" I'm will to bet that it will get extended. I always assumed it would right back in June when the deal was announced. "The loan we gave them is secured against the furnaces" What good are furnaces to shareholders here? Is RRR a Steel producer? They would be illiquid assets, of little use. Who would buy them from us? "We can pay our lenders by Jupiter shares we own..." lol and you think that's a good thing?!! The "crown jewels" being pawned off to pay down debt with Yorkville?! You are deluded. Shareholders would throw the towel in at that point imo. The Jupiter shares are the only tangible asset keeping punters here imo. "admin cost of 600K that is yearly cost not monthly" It was �686k which equates to �57k per month. A staggering amount of paper clips for a team of 4 execs and 1 admin person !!! That annual figure puts the Jupiter buy-back of �364k into clear perspective. "RRR still expect steelmin to pay in early Feb, so it's not long.." Again the work "expected". Head in the sand. Believe what you will. Tell me, if Steelmin can so readily get finance via this Luxembourg Investment Vehicle then why did they come to RRR for money when RRR had no such money to lend? Doesn't add up to my mind.

SP is 5% down. You'd think Maestro would be lapping up the shares given how undervalued he keeps saying the share is. Yet there's nothing. Go figure. Maybe he's busy buying up all the private Jupiter shares lol

You sound like a bitter trader who's frustrated at his abject failure to spin fairy stories to the mugpunters. How are those warrants doing?! It's 7 months since the Steelmin "deal" was announced and they still haven't repaid the money to RRR. EUR 3.8m borrowed from RRR. EUR 3m borrowed from other funders. No production. Targets slipping all around. 3 tranches of CLNs with warrants already under the belt to pay down the huge loan with YA ($2.8m outstanding still). How much more confetti to come?

Original RNS stated: "Steelmin to be able to refinance the Loan for an additional 8 month term by paying a 5 % fee, outstanding amounts to then be amortized monthly" Notable also that it said: "Steelmin expected to refinance all borrowings with cheaper trade finance once in production" So something here is off because Steelmin isn't yet in production and latest RNS update now says production isn't expected until March 2018 and yet now we are being told that they hope to refinance eary Feb! Somewhat confusing messages.

Indeed Cgull. Even so, if Steelmin did "drawdown" on their "Structuring and Placing" agreement what does that actually mean? Doesn't it suggest they will issue their own confetti to raise the funds? What will that do to RRR's 22%? They borrowed EUR 3.8m from RRR and a further EUR 3m from a group of other funders. Near EUR 7m of debt. How many shares would they have to issue to raise that kind of money? Do they plan just to reimburse RRR and leave the other funders sitting there? Seems unlikely. I maintain my own personal suspicion/prediction (based on nothing but pure cynicism) which is that Steelmin will elect to kick the can down the road and extend their loan with RRR by another 8 months as per the terms laid out in the original RNS. I hope I am wrong because where then will RRR find the cash to keep paying their own debt to YA?

maestro : "I think you are getting confused, the easiest thing will be to uses the steelmin fund, if that doesn't happen then they will use Jupiter dividends and selling 25% of their shares in Jupiter once listed" The Jupiter "dividend" is going to be about �364k and won't arrive until 19th March and that amount doesn't even cover the regular Admin and Exploration expenses here which were stated as �686k in the recent Annual Report ! I'm afraid you are simply dreaming with your head buried in the sand. Jupiter hasn't relisted yet and it could be March or much later before it does. Meanwhile the YA loan has to be repaid. Where's the cash going to come from Maestro???? Should be starting to get obvious by now imo.

Due dil rolls on and is extended . . . . again. What's that the 3rd or 4th time now? The bigger issue is the Steelmin refinancing. There obviously (imo) wasn't going to be any RNS this week saying Steelmin have repaid the money so this "update" comes across to me as little more than an attempt to pacify the markets in an attempt to bury that bad news and keep the fish on the hook. Don't worry folks it's just a couple more weeks now . . . they hope! Targets seem to be slipping it seems. The refinancing was supposed to happen by end of Jan, now it's early Feb Production was supposed to happen by Jan 2018, now it's March 2018. I note too the careful language being used which is reminiscent of the Greenland debarcle where it was the Greenland lawyers (not RRR) telling us that they had recieved their completion bonus. Today we have: "Steelmin Limited ("Steelmin") advises that it hopes for fund drawdown" Not sure if people are in any way interested in Steelmin's hopes, what they want, and what is needed is for Steelmin to repay the money. SP is already 5% down so markets clearly read between the lines here. Meanwhile that colossal $4.4m loan with Yorkville (YA) needs to be paid down ($2.8m still outstanding) Roll on the confetti ! All imo, DYOR

Nope. One can only surmise that the DD period is complete. It has to complete sometime after all. Whether the company then choose to go ahead or not is their decision and they will update the markets either way. Let's hope they don't go ahead as frankly where will they get the money from to pay the $700,000 cash payment and the $1.2m for exploration expenses?!!!

So you are suggesting that RRR will go ahead with the Cobalt deal and not issue an RNS thereby breaking AIM rules . . ? You've really lost it this time.

muppet - "They haven't bought back 6%?" just lol RNS 13th March http://www.jupitermines.com/images/jupiter---gaethiesha.pdf COMPLETION OF JUPITER SHARE BUY-BACK "Jupiter Mines Limited (�Jupiter� or �Company�) announces the completion of the equal access share buy-back which commenced on 30 January 2017. The buy-back offer was greatly received by shareholders, with a total of 134,190,158 shares bought back by the Company, representing an overwhelming acceptance of 98.01%."

Maestro, the 6% buy-back was completed ages ago you numpty. Back in March. Genuinely I don't think ramping AIM dog stocks is your thing TBH. You lack sufficient knowledge of the company.

maestro - "no one is willing to sell the shares in Jupiter" lol absolute comedy gold and wholly incorrect. Shares have been offered on the website below for months and months. https://primarymarket.worldsecuresystems.com/current-offerings Scroll down or search the word Manganese and you'll see the offer, still in open status: Asset Name: Global Manganese Producer� Existing shares (Pre-ASX Relisting) Categories: Securities, Established Companies Sale Type: Asking Price Price Guide: AUD EOI - recent buyback @ ~A$0.36 per share (~A$743M implied market cap) Status: Open Summary: A top 5 global producer of manganese. This currently unlisted Australian public company has a portfolio of manganese projects in both Australia and South Africa. A group of existing shareholders are seeking liquidity after a recent successful Company buyback program which was restricted to 6% of the shares in the Company @ ~A$0.36 per share, valuing the company at ~A$743M in implied market capitalisation. Can we expect you to be filling your boots tomorrow then? lol