Member Info for MrMagic

maestro your view is based on speculations, i.e that: 1. The Steelmin refinancing with Luxembourg will complete 2. That Steelmin will repay the loan rather than extend it for 8 months 3. That Jupiter will relist rather than be sold privately etc Experience tells me personally to wait until these things actually happen because if they do not, then no, it doesn't look cheap at all. It's important that we see if Steelmin do make it to production and if so, what those levels of production are, what the associated production costs are and thus what revenue is generated. Shoats Creek imo taught investors to ignore the lame ramps of shameless traders and to wait for concrete production figures. Steelmin is no different. Owning 22% or more of a company that is not producing isn't value. It's money locked into an illiquid asset. The situation is really simple imo. Wait to see if Steelmin do complete their finance deal and if they do repay the money to RRR Wait to see if Steelmin do reach production and if so wait for real production/revenue figures Wait to see if Jupiter do relist and if so what AB does with the JMS shares here I never believe the cherry picked rose-tinted scenarios painted by unscrupulous rampers. If things were as thye portray than the company would not have needed to request authority to issue up to 500m more shares here at the recent AGM, but unfortunately they did just that. You can't hide or bury that very significant action of the BOD.

Graphite - "there maybe a bit of money coming in next week" It's the fact that you have to use terms like "may be" that make this such a weak argument. The RNS you refer to has similar worrying language and conditional elements such as : "Steelmin intends to repay" rather than "Steelmin will repay" "a new Steelmin note to be placed with investing funds on a best efforts basis" "the Agreement, which is subject to some rights of withdrawal by the lender" Not really the kind of concrete terminology one would hope for imo. I maintain my prediction. Steelmin will imo, elect to extend the financing for another 8 months and kick the can down the road.

Didn't you say similar things about Shoats Creek Helpful? How much cash invested there and yet little to nothing being produced and now Mayan are very keen to exit the field altogether. How much cash piled into Greenland and yet nothing has come of it. Sitting their unsold. How much cash piled into . . . Kenya, Ivory Coast, Cloud Computing, Candy Sweets, Elephant Oil etc etc and here the rampsters are again saying .. "No really this one is the big one Reggie, this time it really could be milk and honey, we'll be millionaires" lol Still no-one has answered the fundamental question. Where would RRR get the $700,000 cash from and the $1.2m for exploration expenditure plus the regular burn on admin/exploration expenses of �686k??

zumore - " seems i've wrongly been reading the 26th September DRC RNS" The RNS couldn't be clearer zumore. There are 3 clearly separate bullet points highlighting the cost of the deal: o Cash payment of $700,000 o �490,000 payable in RRR shares ("Shares") at 0.65 pence a share, with attached 5 for 3 three year warrants to subscribe for new Shares at 1p ("Warrants") o 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. So, tons of cash needed to be stumped up by RRR and a shed load of dilution shares to be issued at 0.65p, a nice kick in the teeth for existing holders imo. Where would RRR get the cash for this deal?

" if the loan is repaid on Wednesday then the sp should increase" Not convinced of that TBH. It would be nice for sure to have the loans balance out but it would leave RRR with a % of Steelmin who, as yet, are not producing. The key to this entire thing is what level of production they achieve. LTHs will be all too mindful of the shameless ramping that went on with the Shoats Creek saga. Lots of tasty sound bites and rampy test figures but the reality was pretty awful. We will now have to wait until March to find out if Steelmin do get to production, and even then I predict it will be months later before we get any concrete production figures. Rampsters will play on speculation as they always do. Savvy PIs know to wait for the actuals imo.

Don't need to. Just need to ask, where would RRR get the money from for such a venture? $700,000 in cash needed, then $1.2m commitment of exploration expenditure over 18 mths plus of course that dilution, lots of shares at 0.65p. RRR owes $2.8m on the YA loan and needs �686k each year just for Admin and Exploration expenses. Where's all this money going to materialise from? LTHs know all too well imo. Prob best for you to quit trying to convince people here. The more you post the more desperate you come across. You're clearly not in the least bit confident if you're having to man the boards 24x7. Same with all the rampsters. If they truly believed they would sit back and wait for the good times to roll. Funny how they never do sit back. lol

"dont forget by 31st jan we are also due decision on cobalt deal" Why would any sane shareholder want this project to go ahead when it would bring dilution? "�490,000 payable in RRR shares at 0.65 pence a share, with attached 5 for 3 three year warrants" I make that about 75m shares that would be issued at that discount price of 0.65p. What would that do to the SP here?? Not forgetting that RRR would also need to make a cash payment of $700,000 to boot (�494k) !!

"You cannot have it both ways." Not a case of having it both ways I'm afraid. Said before and will say it again, in 2013,2014 and 2015 RRR raised over �9m via various share issues. I'm still waiting for any of the shameless rampsters to highlight what shareholder value that �9m generated. What streams of mega income have been established with it?? Nada, zip, nowt. Can't even be bothered to tot up monies raised in 2016 and 2017 but the point stands. What value is added to shareholders from cash coming into the company coffers? Millions put into El Limon, little to no return Millions put into Greenland, little to no return Etc etc Ivory Coast, Candy Sweets, Cloud Computing, DBar Oil, Elephant Oil . . . It is what it is. The markets imo don't assign a sum of the parts MCAP here because they have seen years of available monies provide little shareholder value. RRR needs to, and has always needed to, establish good strong repeating income streams. It's lucky to have Jupiter throwing off cash at this time though of course much of that is countered by the �686k of Admin and Exploration expenses. But by all means do keep trying to polish the proverbial.

Since so many warrants are issued these days with placings and CLNs it's worth keeping track of how many are out there waiting to be turned into shares imo. Full list can be viewed here: https://www.rrrplc.com/investors/shareholder-information/overview/ Options ====== 13,320,000 exercisable at 0.45 pence - expires 28.01.2022 29,000,000 exercisable at 0.80 pence - expires 12.01.2023 Warrants ======= 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 Those warrants alone total some 260m There are 499m shares currently in issue plus RRR now have authority to issue up to 500m more.

Just laughable Graphite and way to go to bury posts you don't like pages back. I shall say again therefore: 1. Steelmin is NOT producing at this point and owes Euro 6.8m to RRR and other funders. Thus far it has failed to repay its debt to RRR and as a result RRR has had to start repaying its own $4.4m loan with YA and has already done 3 tranches of CLNs with warrants to fund that. A significant $2.8m is still outstanding. RRR previously stated production was expected Jan 2018, they are now saying March 2018. 2. Shoats Creek has been an utter damp squib, our partner operator Mayan Energy now wants to exit the field. Mayan CEO Eddie Gonzalez said (RNS 21 July): "I believe the Company should consider a move decisively towards an exit from this field, due to the capital intensive nature of Shoats Creek" 3. El Limon royalties have been pitiful. One can only laugh at your statements "Earned in 2018", "Earned in 2019" ! These are forward looking forecasts, hopes and dreams not actuals. Last reported ACTUAL by RRR was just over $5k per quarter afaik. Correct me if you disagree. Meaningless amounts. 4. Greenland . . . laughable. It failed to be sold to the mystery oligarch with funds tied up in Cypriot banks lol 5. Cobalt isn't even a project at this point. Calling it an asset is ridiculous. If RRR choose to go ahead then as previously stated it will require: - a cash payment of $700,000 - �490,000 payable in RRR shares at 0.65 pence a share, with attached 5 for 3 three year warrants - commitment by RRR to fund $1.2m of exploration expenditure over 18 months. That's dilution and a lot of cash required. Where will such cash come from?? 6. Ivory Coast has gone nowhere in years. Got to feel for Daniel Sklan who struck a deal with RRR for IC production. I'm sure he'd have some words to say on that "project". and so on and so forth . . . The only decent asset here imo is the Jupiter holding and the RRR MCAP is essentially the value . . .or perceived value of that holding. The Mt Ida royalty is useless to us as Jupiter long since mothballed the Mt Ida project for various reasons inc the price of iron ore. The iron ore price was $100-$120 when they mothballed the project so until/unless the iron ore price recovers to at least that, it's reasonable to assume Mt Ida is going nowhere imo. Essentially, like all rampsters before you, you are simply keen to entice people to invest on the back of hopes and dreams and future speculations rather than on concrete actuals. You presumably have warrants here which you'd like to be able to cash. And once again, you neglect to highlight that RRR requested and was granted authority to issue up to 500m more shares here at the recent AGM. Utterly shameful of you.

GT - "The list goes on" Sadly it's 99% a totally speculative list rather than actual, and that's why the SP is where It is, that's why the markets seldom value the company as a sum of its parts, imo. Steelmin ISN'T producing at this point so of little use and it owes Euro6.8m to RRR and other funders. RRR's target for production start has moved now from Jan to March. I'd happily put a pair of old underpants on standby and wager that come March production won't have started or if it does there won't be any decent production figures reported until months after. If I'm wrong I'll eat them. Like Shoats Creek I reckon the Steelmin project will drag on and on. The Jupiter shares will imo always be there as a core enticing asset. AB will not imo sell those shares, so their value, whilst real won't be realised as cash imo. Happy for you to believe otherwise but history tends to support my viewpoint here. Hand-out from Jupiter is circa �364k yep. Sadly the Admin and Exploration Expenses run at �686k per annum according to last Annual Report. El Limon royalties have been meaningless. Last reported ACTUAL quarterly figure was just over $5k which at that rate means it will take near 100 years to recoup just the first $2m of that $3m royalty. Not worth your time and effort trying to ramp TBH. Cobalt project would require a cash payment of $700,000 and �490,000 payable in RRR shares ("Shares") at 0.65 pence a share, with attached 5 for 3 three year warrants plus commitment by RRR to fund $1.2m of exploration expenditure over 18 months. That's dilution and a lot of cash required. And like all company apologists and rampers you conveniently neglect to highlight that RRR requested and was granted authority to issue up to 500m more shares here this year (as per last AGM resolutions). Smart approach would be to see if Steelmin actually do repay the loan and go from there.

coffeecups - "looking at buying in for next week's news " Not sure what news you are hoping for but I'm personally under no allusions as to what "news" is likely to appear. RRR often states its hopes, anticipations and expectations but they seldom come about imo. For instance as recently as 20th Sept RRR made its first payment of the $4.4m YA loan saying: "We EXPECT significant dividend and royalty inflows in the remainder of calendar 2017 to enable us to continue paying down our loan after this first substantial payment" (my caps) I guess those dividends/royalties didn't make the cut because just a few weeks later we got . . . 10th Nov - RRR raises �495k via CLNs with warrants to pay down the loan (tranche 1) 12th Dec - RRR raises �215k via CLNs with warrants to pay down the loan (tranche 2) 14th Dec - RRR raises �290k via CLNs with warrants to pay down the loan (tranche 3) 21st Dec - RRR raises �125k via a placing of 15.6m shares with 1 for 2 warrants So much for expectations then ! Another example of hopes and expectations is the change in target dates for Steelmin production which I highlighted earlier: RNS 10th Nov stated that production was expected Jan 2018. RNS 18th Jan now states Steelmin forecasts first production in March 2018 Like I said, there's really only one kind of news I am expecting but happy for others to hold contrary view points.

Maestro, what use is 22% or 30% of a company that isn't producing yet and that has debts of at least 6.8m? It would be a totally illiquid asset. Who would buy that share from us if Steelmin didn't manage any decent production? I'm not saying they won't get to production stage, only that currently they are not producing and the RRR slippage on this is imo telling. RNS 10th Nov stated that production was expected Jan 2018. RNS 18th Jan now states Steelmin forecasts first production in March 2018. Clearly all is not going to plan. What are the chances that March arrives and still no production? Like I said, with the history here, savvy investors will wait until production actually does start and when there are some actual production figures published by Steelmin/RRR. Until then I can personally only expect more share issues/CLNs.

maestro "lets say they go into admin now and sell their assets individually, we will get +150% gain" lol. What assets do you perceive there is a market for? Let's hear it, and also tell us how much cash you think they'd get for them. maestro "Its not the end of the world if steelmin dont repay loan" lol again! The deal was presented to shareholders as a simple back to back deal so no one could lose. What has actually happened? Steelmin haven't repaid their part but RRR have to repay their loan to YA and so have issued loads of shares and warrants, CLNs etc to raise the money to pay down that colossal YA loan. So ultimately shareholders lose again. The BOD get cash from the raisings and then also ultimately get cash from Steelmin if they do repay. Note that I don't share your rose tinted view of owning 22% of Steelmin. If Steelmin don't/can't repay their loan or if Steelmin production turns out to be useless (like say Shoats Creek's did imo) then what use is owning 22% of that company? How would you ever liquidate the value of that share? Steelmin took out near 7m of debt with RRR and others for this production start up. That all has to be paid back somehow. Given the history of past deals here I'd consider myself foolish to speculate on what may or may not happen. The smart money imo will wait to see if Steelmin actually do repay their loan and if they actually do start production in March and wait to see what that production level looks like. Each to their own of course and always DYOR.

maestro - "If you read the last financial results they said they may sell up Jupiter mining share" I don't believe that for a second. The JMS shares are the core asset underpinning the tiny MCAP, considered the "crown jewels" by most PIs. I don't believe AB would sell them at all. He needs those shares in order to attract mugpunters imo.

maestro - "Why would rrr rns steelmin have signed note with Luxemburg company on 18th Jan if they were not confident of the payment... " The language of the RNS 18th Jan highlights that nothing is guaranteed : "to be placed with investing funds on a best efforts basis" "is subject to some rights of withdrawal by the lender" LTHs here have seen similar language on other projects. Cyprus banks, Lawyers paid completion bonuses etc etc Imo believe nothing until it actually happens. How many years did it take to complete the El Limon sale? Lots of target dates but dragged on for years. maestro - "it's an asset which is expected to commence production in mid March" Yep. Did you note the slippage there? Previously (RNS 10th Nov) RRR said production was expected Jan 2018. Now they are saying Mar 2018. Again LTHs here are very familiar with such target slippages/extensions. Very much same old. Roll on the confetti

maestro - " they will get 364K in share buy back from Jupiter so they have no issues" As per last Annual Report, RRR burns through �686k alone in Admin and Exploration expenses so that �364k isn't going far is it?! The huge $4.4m loan they took out with YA still needs to be paid down. According to the RNS 18th Jan there remains $2,865,004 of this debt outstanding including fees and accrued interest. That's approx. �2m in real money. So RRR need �2m for this loan plus the usual �686k odd for various expenses plus any other on-going project costs. RRR is due to receive �364k in mid-March from the Jupiter buy-back and circa �550k ($783k) on 1st April from the remainder of the Colombia sale promissory note. Whether Steelmin are able to complete their refinancing and/or whether they repay the money to RRR remains to be seen. My personal guess is (and always has been) that Steelmin will elect to extend their loan with RRR by a further 8 months. We can but wait to see what happens. Similarly we must wait to see if Jupiter does relist on the ASX and if so what happens to RRR's shareholding. I maintain my personal view that regardless, AB would not sell down the shares but would rather keep them as the "crown jewels". For me, their value is purely notional. I find it difficult therefore not to expect a shed load more CLNs/confetti issues in the short term.

lols Pinman, you said the same thing way back on 6th June. Nothing to see here though, just same old same old. Won't be long now till Steelmin is just so much old news and the next "new kid on the block" project/deal is announced.

booboo If you are asking whether a significant holder should notify a change in holding % as a result of being diluted by the company then my personal understanding is No, they don't. I could be wrong but I seem to remember this happening in the past either here or RRR or both.

Apologies for confusion. There were 578m shares in issue as at 2nd Jan as per the TVR RNS at that time. The authority to issue up to 600m more shares in 2018 has therefore the potential to double the number of shares in issue from that point. The individual placings/CLNs etc are somewhat matterless imo. In the basic MCAP calculation: MCAP = No Of Shares * SP It can be seen that doubling the number of shares (alone) would halve the SP. However one must make some account of the money raised from the placings (which goes onto the MCAP). One has to assess how the available monies are utilised and how much is absorbed in Admin and expenses and working capital. Those kind of expenditures tend not to generate shareholder value imo.