Member Info for MrMagic

Personally I treat Align's PR piece with a generous pinch of salt. I find it high on cherry picked sound bites and lacking in much of the salient detail that is needed to make an informed decision. Still it is imo useful as an at-a-glance high level view of the company's assets and ventures, but not something that would in any sense sway me to make an investment decision.

As posted earlier: Align freely admit their material is not impartial "we only write about those companies that we have conviction in. However, as a consequence of this alignment, our vested interest is in an increase in value in the subject company�s equity. As such, we therefore cannot be seen to be impartial in relation to the outcome of our reports." http://www.alignresearch.co.uk/legal/ It is what it is imo I find these broker type reports useful as a way to see "at a glance" what the company assets are, but for a full and proper understanding of a company, one needs to look through the past RNSs to see what actions the company has actually taken, and how badly they have diluted shareholders and how available cash has been utilised. No broker report that I have ever seen here (Edison, Dowgate etc) has ever come close to correctly predicting future SP targets. All have thus far proven to be vastly over stated. Mostly that has been (imo) because they fail to properly account for the future increases in share issue. As a result of the recent AGM here, RRR now have authority to issue up to 500m more shares. There are currently 499m in issue

Regency has therefore sought and now been granted authority to issue up to 600,000,000 more shares here in the coming year. Currently 578m in issue so there's potential there to more than double the number of shares.

The bit you left out Helpful: "we only write about those companies that we have conviction in. However, as a consequence of this alignment, our vested interest is in an increase in value in the subject company’s equity. As such, we therefore cannot be seen to be impartial in relation to the outcome of our reports." http://www.alignresearch.co.uk/legal/

Whatever people feel about AB's reason's for buying shares (and it seems very obvious to me) the fact to take away is this . . . . AB said "As stated before, the reason I invested myself is that I have long wanted to but found myself inhibited by insider considerations, and this post-results and pre-Christmas period is a clear period for which I was able to plan" This surely means there can be no imminent SP affecting news or deals or major changes here otherwise AB would have been unable to buy those shares. We are thus in a period of nothingness. The results of the forthcoming AGM are all we can expect imo.

I never understand why some posters let their emotions run so high as to potentially libel themselves. I seem to remember poster Didge doing something similar and having to dismiss himself from the boards. Just stick to the facts imo. and personal opinions.

Can't see the cobalt thing happening in current climate since RRR have to keep finding the cash to pay down the $4m loan with YA until Steelmin pay back the money they owe, hence the string of CLNs we have begun to see. If RRR were to go ahead with the cobalt project then according to the RNS they would have to find: o A 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. Where would such monies come from if they are going to keep paying down the YA loan and foot regular running costs? Can't see it happening but that's just my opinion.

"hate to tell you this since it will improve your understanding of how markets work but when someone buys some shares on the other side someone sells some shares." Yep, but oddly that doesn't stop rampsters like yourself constantly highlighting the buys saying nonsense like "ooh they must be confident". Remember also that you're a junior here, a recent adept who found his way via MYN, another serial diluter. There are LTHs here who know the score very well indeed and who have seen numerous "well placed buyers" come and go with their tail between their legs. And some of those held far more than the current 3%-6% fly-by-nights!

"Some big buys today" And a massive late reported sell ! 4m @ 0.79 £31,650 Hmmm

So first trade of the day was 0.72p and within a couple hours the MMs (imo) have walked this up to 0.8p and fortuitously the CLNs are now in conversion territory ! Hmmm. Well, it's nice of them to offer me their shares at 0.8p but forgive me if I decline as I have no doubts the SP will e back down again as soon as the exercise is over. That and of course AB is already asking for authority to issue up to 500m more shares at the forthcoming AGM.

lol Helpful. I see you've taken a GSE in RRR Speak . . . . "should have", "if", "might", "I think", "potential" All "jam tomorrow" forward looking speculation as usual. Where are the actuals? Notable (as ever) that you don't make any mention of the dilution that has occurred up to this point and the company's new request to issue up to 500m more shares in the AGM resolutions. How many more shares will be in issue by the time any of this "jam tomorrow" arrives?

Here's the NexExchange link for RGM for those interested. Bookmark it and keep an eye on trades there: http://www.nexexchange.com/member?securityid=2074408

and they are not "hidden" Microcap. Nexexchange is the Secondary Market. Anyone investing in these AIM outfits who doesn't know about the Secondary Market shouldn't be here imo.

Whilst we are debating terminology and wordsmithing I couldn't help having a chuckle at this one: "We shall use the proceeds PRIMARILY to further reduce our exposure under the back to back financing facilities we took out to enable our investment in the Steelmin ferrosilicon plant at Jajce" Wha does "primarily" mean here ? Does it mean that 51% of the funds will be use to pay the YA loan and the rest used for good old working capital???

I suspect you don't understand the situation Goldenegg. Shareholders can enter their votes, but they have no strength unless they are a majority. The BOD is always ahead here, they have the big investors on their side and they effectively have the shares held in other companies. e.g. The RRR shares held by RGM. According to past posts on this board people have tried before to amass enough votes to oust the BODs. Always failed.

booboo - "2 x 50000000 sell yesterday, have Yorkville started?" I guess it is possible. YA get to convert at 10% discount to the VWAP and if you are right then 0.53p would appear to be the conversion price for the current batch. They can only convert up to $200,000 each month which is £149,000 in real money. By my calcs, £149,000 worth of shares at 0.53p would equate to some 28m shares. That's just this month. There are 4 months left on that CLN. One assumes that the constant drip feed of such discounted confetti will put downward pressure on the SP so each subsequent conversion will likely be at a lower SP so the number of shares involved will presumably go up month on month (all else being equal). As ever YA can't lose in these deals. They get their privileged 10% discount no matter where the SP is. Only the existing holders lose as they get slowly diluted. This is all assuming you are right that they are converting at this point. DYOR as always. CLN RNS refers: http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RGM&ArticleCode=ic7xwuht&ArticleHeadline=Convertible_Loan

" the business has generated nearly £5m via numerous avenues." yet the Annual Report says the revenue was just £113k. Where is the money going? Why isn't all this raised money translating into regular recurring revenue of any significance? Same at RRR ? #lifestyle

Richie - "Anyone put a value on jupiter?" The Jupiter shares that RRR hold have been used as security against the colossal $4.4m loan with YA. So it's a bit of a moot point to play with valuations. We first need to see if anything at all comes from Steelmin, and if it does, how significant it is or not and whether Steelmin actually can and will pay back the money they owe to RRR and if so in what time scales. Furthermore, if you are going to talk about the MCAP here, and do so honestly, then you have to take into account the number of shares in issue. MCAP = No Of Shares * SP You can't just take one element of that equation (in your case the MCAP) and ignore the others. Currently Steelmin haven't repaid their loan to RRR and as a result RRR is having to find the cash to pay downs it's borrowing of $4.4m from YA. Given the revenues here and high running costs, where is RRR going to keep getting the money to pay this loan? It's not unreasonable to think that Me Bell will just keep raising money via share issues. If so, where does that leave the MCAP equation? And let's not forget too that RRR are now requesting authority to issue up to 500m more shares here in the coming year. And whilst we don't know how much (if any) of that amount he actually will issue, one has to factor some increase of share issue into any valuation otherwise, why would they have requested the authority? In short then the MCAP is where it is because the Jupiter shares are the only asset deemed to have any value, even though it is currently illiquid. The JMS shares pretty much ARE the MCAP here but also factored in is the likelihood of more dilution. It is what it is and imo will always stay that way until this BOD change their habits or resign. RRR and RGM have never been the kind of companies where you can simply take a "sum of the parts" valuation.

Given the large amount still outstanding on that YA convertible loan note, and the fact that it only has 4 months left to run and can only convert up to $200,000 per month, like Zumore, I can only assume that there are going to be 4 months of YA conversions now. YA get to convert at 90 per cent. of the lowest daily volume-weighted average, i.e. a tasty 10% discount. Experience suggests to me that there will be a lot of board ramping. Lots of new aliases appearing, lots of "jam tomorrow" nonsense posted. Of course YA don't care as they are getting that 10% discount. DYOR.

It says something when Revenue of just £113,350 is displayed as a "highlight" in an annual report. It makes for the usual disappointing read imo. Revenue - £113,350 Admin/Expl Expenses and finance costs - £473,538 (Total staff costs £280,649) Loss for year - £534,267 Plain to see where the loss occurred from. All those running costs from just 3 execs and 1 admin staff. It amounts to almost £40,000 per month. That's an awful lot of paper clips !! Total current liabilities £1,172,721 And tucked away at the back in the forthcoming AGM resolutions, the usual request for authority to keep churning out shed loads of confetti in the coming year. "the Directors . . . are hereby generally and unconditionally authorised . . . to allot equity securities . . . up to a maximum nominal amount of £60,000" With the nominal share value being 0.01p that means authority to issue up to 600m more shares !! There are currently 576m shares in issue so that would more than double the issue if the full amount were issued. The gravy train rolls on for this BODs.