Member Info for MrMagic

Where are your TR1s Maestro? Why aren't you buying up all the private Jupiter stock?

maestro you just keep churning out the same sound bites. It really does sound a bit desperate. "Just the Jupiter shares aus$12m and steelmin loan repayment which will have positive effect of �1.8m is more than mkt cap." Jupiter haven't relisted yet and it may be months before they do. Even then how likely is AB to actually sell that holding to realise the cash value?? Not at all imo. Steelmin haven't repaid their loan have they? If they do, shareholders here aren't going to see a penny of that �1.8m are they?! Can you tell us where the money from the last 2 Jupiter buy-backs has gone? What shareholder value did it deliver? GL with your punt

maestro twaddle: "Jupiter shares of 25m valued at + aus $12m" Value them however you like, problem is AB won't sell them imo because they represent the "crown jewels" here, plus he has a seat on the board of Jupiter. Cash is needed not MCAP value. "steelmin share of up-to 30% of a company with EV of potential Eur40m once in production in March" Problem there is there isn't any production at this point is there and I personally doubt there will be any in March. Either way, it's a fact that once production does begin, there is always a significant period of time whilst it stabilises and before any actual production figures are published. Thus if they did start production in March (I'm sceptical) then I personally think it would be a month or two later before we get any proper production figures. Note also that Steelmin not only owes RRR Eur 3.8m but also owes other funders a further Eur 3m so it has a lot of debt to pay off. You use the word "potential" which his fine, but it's forward looking. "para returning $750K in April" Yep, keep trotting that one out. It's very old news, in fact 2 year old news. It's one of the tranche payments from the original Colombia deal from Apr 2015 long since factored into the SP here. Kudos though for not bringing up the Colombia royalties which imo have been pitiful. "signing a large cobalt deal" Speculation on your part nothing more. No such deal has been signed and if they did go ahead with it they would need to find a whole load of cash and would dilute shareholders with �490,000 worth of shares at 0.65p I hope for shareholders sake that project is not taken up at this point in time. "Receiving loan back by steelmin, will be �1.8m in benefit" Hasn't happened though has it?! The Steelmin deal was done way back on 23rd June and Steelmin have simply failed to repay the loan to RRR. Meanwhile RRR has had to keep paying down its own colossal $4.4m loan with YA of which there is now $2.8m outstanding. To achieve that the company has issued 3 separate tranches of CLNs with attached warrants, they've also performed a separate placing of 15.6m shares at 0.8p. Thus far the Steelmin "deal" has been pretty awful for shareholders who were lead to believe that the back-to-back financing would balance itself out. If Steelmin ever do repay the debt, shareholders should imo demand cancellation of those CLNs and a buy-back of the shares. Would that happen though???! Once again, if you are so uber confident of value here then: 1) Where are your mega buys in the trade list? 2) Where are your TR1 holding RNSs? 3) Why are you posting daily here trying to get others to follow you into the share?

"it looks like a mix of bad market conditions and some desperation deals to try and hold it together " No it was dilution after dilution after dilution with a bit more dilution thrown in for good measure, to raise �millions much of which is/was expended on Admin and expenses rather than money "going into the ground" and much of it wasted on failed projects. Joebop is right imo when he calls it a gravy train. The SP was decimated so badly that it reached the nominal share value which back then was 0.1p. Under UK law you can't continue to issue shares at prices below the nominal share value. A major problem for a company that operates via dilution. So the BOD lowered the nominal share price to 0.01p (23rd Dec 2014), thus reseting the clock and off they went again, rinse repeat, dilution dilution dilution. Wihin 12 months yes, just 12 months the SP had been decimated again and was now close to the new nominal price of 0.01p and so this time a share consolidation was performed. 21st Dec 2015, a 25 to 1 consolidation. Clock reset again. And so it goes on. Endless confetti in whatever guise, placings, CLNs, warrants, Teather's AP raisings and so on. We move from one prospective project to the next, which allows the markets to speculate wildly which in turn I have no doubt helps to get the confetti away. Lots of fat fingers in lots of pies and none of them ever seem to end up as a truly successful venture that produces good recurring revenues. Steelmin is for me just the latest in this long line of pies. This "back to back" financing, which people thought was a simple money in money out balanced equation, has already resulted in 3 rounds of CLNs with warrants and a further placing has been done on top. Will those shares/CLNs be cancelled/bought back if/when Steelmin repay their loan to RRR? Hmmmm I have no doubts that later in the year the Steelmin project will be "old news" just as Shoats Creek is now "old news" and seldom mentioned now by the unscrupulous rampers who massively hyped it in the beginning until the poor performance figures came out. There will always imo be a "new kid on the block" project appearing to tickle the fish and get the market speculation going again and there will always be confetti imo. It's been described numerous times by numerous posters here as nothing but a lifestyle company. I have a lot of sympathy with such views. DYOR as always.

@maestro Why do you post daily if you are confident here? Sound bite after sound bite with cherry picked info and only a completely rose tinted view of all the possible outcomes. Doesn't show any confidence at all on your part. Suggests more that you are desperate for others to support your investment decision.

The tell tale personal jibes Maestro, poor show. Boiler room 101 tactics though. If the SP looks attractive then where are all your buys? Not seeing any TR1 Holdings RNSs from you . . . .

lol Gunner. Shows 5% up but with a 10.5% spread !! Rampers appear extremely jittery imo. Can only mean 1 thing . . . . . tick tock !

Correction 100,000 x 3 and a 300,000 sell

1,000,000 bought at 1p 1,000,000 bought at 1p 1,000,000 bought at 1p 3,000,000 sold at 0.971p Could this be the same person? A small loss of �87 for a poor attempt at trying to generate momentum? Or are these just separate trades, different people? Who knows?

coffeecups "if it is cobalt at a decent price in a stable part of the DRC then im all up for some healthy dilution" lols. Ramping gettng desperate now, trying to big up projects that the company hasn't even embarked on yet ! Should RRR decide to proceed with the cobalt venture they would be liable for: - a cash payment of $700,000 (circa �500,000 in real money) - �490,000 payable in RRR shares at 0.65 pence a share, with attached 5 for 3 three year warrants to subscribe for new Shares at 1p (i.e. 75m dilution shares) - Commitment by RRR to fund $1.2m of exploration expenditure over 18 months to produce a bankable feasibility study on Kamirombe, and thereafter pro rata. "healthy dilution" lols, comedy gold. Where is the money going to come from ? How many more fat fingers can this BOD get into different pies ? Isn't it about time they got one project, just one project up and running properly and generating significant recurring revenue? How many damp squibs/failures have there been on which cash was expended? Ivory Coast, DBar oil, Cloud Computing, Candy Sweets, Elephant Oil, Greenland, Shoats Creek . . . Millions and millins of ���s raised year on year and yet MCAP sits languishing and the SP destroyed.

maestro - "Bell knows if the loan is returned rrr will have over �2m in bank, have over �6.8m in shares in Jupiter, have c.eur 6m in steelmin, have �550K returned by para, �354K buyback" lol And yet Bell thought it necessary to ask shareholders for authority to issue up to 500m more shares here at the recent AGM. What a terrible management decision that was if he genuinely expected all that cash to arrive in a timely fashion. Frankly I don't believe for a second that he does believe that cash will arrive. I'm afraid your rose tinted view doesn't match up with the company's action's. maestro - "So we will take a asset with turnover of eur40m and Eur10m ebitda" But Steelmin isn't even producing. So where is this 40m turnover? You're simply throwing pie in the sky numbers up in the air. Hopes, expectations, dreams. Until Steelmin produce and until we see what levels of production are achieved and what the production costs and revenues are, all you have is a share of an illiquid asset. maestro - "You and your love for Confetti" It's not my love, it's Mr Bell's love. He's been issuing the confetti for years and has thereby overseen total SP destruction here and had to perform 2 share consolidations within the space of 12 months it was that bad ! It is Mr Bell, not I , that has just asked for authority to issue up to 500m more shares here. The loan to Steelmin and our loan with YA were supposed to be back to back deals that effectively cancelled each other out. Rampers said they were good deals, that we couldn't lose. Lol how has that worked out so far ? 10 Nov - �495,000 of Convertible Notes issued with accompanying warrants - exercisable at 0.8p 12 Dec - �215,000 of Convertible Notes issued with accompanying warrants - exercisable at 0.8p 14 Dec - �290,000 of Convertible Notes issued with accompanying warrants - exercisable at 0.8p 21 Dec - �125,000 raised by way of a placing of 15,625,000 shares at 0.8p You take us for fools which most here certainly are not. AB is the confetti king and that will never change imo.

The longer Steelmin don't pay the more RRR has to keep raising via confetti to pay down the huge YA loan ($2.8m still outstanding). That's not good for shareholders here. 22% or even 30% of a company that isn't producing is pretty worthless. It would be an illiquid asset. Steelmin need to repay and start producing but as cgull says, the signs (reading between the lines) aren't looking good. Kicking the can down the road for 8 months would not be good for shareholders. We'd just see a shed load more CLNs and warrants. There are already a ton of warrants waiting in the wings thus: 8,333,333 exercisable at 0.90 pence - expires 03.09.2018 21,315,971 exercisable at 0.66 pence - expires 28.04.2018 97,023,801 exercisable at 0.84 pence - expires 13.11.2018 75,000,000 exercisable at 0.80 pence - expires 22.08.2018 20,000,000 exercisable at 2.20 pence - expires 20.06.2019 30,937,500 exercisable at 1.40 pence - expires 30.04.2019 7,812,500 exercisable at 1.60 pence - expires 20.12.2019 Note the 21m that expire on 28th April. Got to figure holders will want to convert those pretty soon imo.

Just a paltry 12 trades today. Does this mean the markets aren't convinced about this Luxembourg Investment Vehicle? I guess they are doing the smart thing and waiting until end of this week to see if there's another RNS on the matter.

Shades of El Limon and MFP holders ! A situation that dragged on for years.

maestro - "read the agreement again, nothing sinister has happened, they can extend by another 8 months" I know they can, I've been highlighting the fact for weeks. No-one is suggesting there is anything sinister about it. It's one of the terms of the deal that they can extend the loan for 8 months. I personally think they may well do that. The issue for shareholders is that if they do extend, then RRR have to continue paying down their own loan with YA of which there is $2.8m outstanding and that would likely mean lots more confetti, CLNs, warrants etc. We only need to wait until this Thursday to find out where we are on that score. Either Steelmin refinance/repay in full or they don't. No point speculating, wait till Thursday imo.

maestro - " but look at the facts" lols, but you refuse to. You only trot out the cherry picked facts you want to. The facts are that Steelmin haven't repaid their loan. They may do, but right now they haven't. The facts are that while ever Steelmin haven't repaid their loan RRR has had to keep paying down their loan with YA and there have already been 3 tranches of CLNs with attached warrants to pay for that and there still remains $2.8m (�2m) to pay. The facts are that the last annual report put Admin and Exploration expenses at �686k So generally speaking �2.68m is needed plus any other project/running costs RRR is due to receive $783k (�553k) from the El Limon prom note in April RRR is due to receive �364k from the latest Jupiter buy-back in mid-March Seems everything hinges on whether Steelmin repay their loan in a timely fashion. If Steelmin DO refinance and repay the loan then great, that mitigates much of the risk. If Steelmin don't and/or extend the loan for another 8 months then imo it's confetti ahoy. How can one determine which is the most likely outcome? What other facts are out there to help? There are 3 bits of data. 1. RRR have requested authority to issue up to 500m more shares here 2. Production was expected in Jan 2018, now that's moved to March 2018 3. We've had an RNS suggesting Steelmin intend to refinance with a "Structuring and Placing Agreement" with a Luxembourg Investment Vehicle but which is subject to some rights of withdrawal by the lender In the end you pays yer money and your takes yer chance. Each to their own but I personally will wait to see whether Steelmin repay the loan rather than risk seeing more and more confetti. The RNS said the Steelmin refinance has a "target issuance date of end January 2018" so there's only 4 days to wait. If no favourable RNS appears by Thurs 1st Feb then I'd personally expect the markets to react negatively. All imo, DYOR.

Pound signs in last post were EURO symbols when posted. Site has changed them to �

Let's also not forget that Steelmin, aside from borrowing �3.8m from RRR, also borrowed �3m from Christof Industries and OeKb, Osterreicheische Kontrollbank AG, to complete funding required to bring furnace V back into production. I wonder if that group of funders are also wanting Steelmin to repay soon too. Equally one wonders what kind of deal this Luxembourg vehicle is going to want for lending Steelmin �3.8m+ to repay its debt to RRR. A big cut of the company or its profits maybe?

Let's be honest, I'm pretty sure people expected Steelmin to have refinanced and repaid RRR way before now, problem is they haven't. Let's be honest, most people probably thought the "back-to-back" loans with Steelmin and Yorkville were balanced and no-one could lose, yet months later we've already had 3 tranches of CLNs and placings to raise money, all with warrants attached and greatly increasing the share issue. If Steelmin do actually repay, will AB buy back all of those shares to redress the balance??? Can't see it myself. Let's be honest, RRR said they expected production to begin in Jan 2018. Now they are saying March 2018. We've had an RNS regarding a possible Steelmin refinancing deal using words like "intends to" and "best effort basis" and subject to certain conditions. I take absolutely nothing for granted here. Things clearly aren't going the way most people had hoped imo.

maestro, not interested in your investing advice thanks. I'm immune to the shameless ramps and endless overhyping of the couldbe's, mightbe's, shouldbe's here. Experience tells me that nothing can be taken for granted here and with the constant threat of dilution ever hanging over proceedings I would not be surprised if many find that there are better AIM stocks to go at. "Jupiter has been buying back shares at 0.44c" Yep but only for a tiny % of the share base. Valuing the entire share base at the same value is farcical imo. If you decide tomorrow to go and buy 100 RRR shares and offer the MMs 3p a share, that doesn't suddenly make the other 499m shares worth 3p does it ?! There are plenty of posters on other forums and websites saying that the value of Jupiter is being over-hyped. A relisting will for sure end the speculation once and for all, if it happens ! Best wait to see if it does and where the JMS SP settles imo. "I have told you previously that steelmin have always had option to increase loan by another 8 months so it's not new" You have no need to tell me, I've been highlighting the fact for months. I speculate that they might well take that option which will leave RRR having to keep paying down it's huge loan with YA ($2.8m still outstanding). Where's that money going to come from? We are due �364k from Jupiter and circa �529k in April from the Limon prom note. But then there's the colossal �686k of Admin and Exploration expenses to foot. So again, where is the money going to come from to keep paying down the YA loan? I think I can guess !! You're basically trying to get people to pin their hopes on either Steelmin refinancing/repaying and/or Jupiter relisting and AB selling JMS shares, neither of which has yet happened. It might be a decent punt were it not for the fact that AB has already just secured authority to issue up to 500m more shares here (curr 499m in issue). There's the rub. It's not like RRR doesn't have form in the dilution dept ! The simple fact that AB felt it necessary to request authority to issue such a huge number of shares certainly casts doubts for me on how confident he is that all this money actually will come rolling in. Each to their own and DYOR.