Member Info for MrMagic

Panda - "I can't see how RRR are going to fund the substantial monthly payments to YA" Yup . . . . It's a lot of money to stump up when there's no significant income. Not too difficult to imagine how the money will be raised imo . . .

@Okenia No-one is confusing authority to issue with obligation to issue. It is what it is. The fact is that the company DID request authority to issue up to 600m shares and that authority was granted. Whether it is used remains to be seen. There are different ways to look at it. On one hand, if it isn't used at all, one could say, well that was terrible management and foresight from a year ago, clearly failing to properly assess where funding would come from. It would be a bit like the Bank Of England saying they intended to put interest rates up by 2% next year and then not doing it. Problem is, the threat of doing it is enough to make businesses all over the country react on the assumption that the interest rate would go up. Thus equally here,. Bell, by requesting authority to issue a colossal number of shares will have greatly put investors off esp given his abysmal record in the dilution stakes. The other way to look at it is that this authority will expire in 2 months time and thus Bell might be more likely to utilise it in that short time frame. We can only wait and see but given BMD allegedly predicted a pump here I'm betting Mr Bell just can't resist a bit of "free money creation". Regardless I still have a pair of underpants standing by to eat should AB decide NOT to request authority to issue shed loads more shares at the next AGM.

@Indivestor Knowing when to cut your losses is key in the AIM world imo. Clock is ticking here. Mr Bell has had authority to issue up to 600m shares here since the last AGM. That authority expires at the next AGM. T minus 2 months and counting. WIll he be able to resist inventing some more money out of thin air at punters' expense?

Linked to Invst.co.uk https://invst.co.uk/faqs "invst is a platform that allows Private Investors the opportunity to sign up as clients of First Equity and participate in private fundraisings (also called placings) of AIM companies, on the same terms as any other investor, including institutional investors"

Well Cgull, the company has already sought and been granted authority to issue up to 600m shares here. That authority expires at the next AGM which usually happens in Dec so time is very much ticking away if AB wants to try and get some or all of those shares away. You can read the details in the AGM resolutions which were added in the Notice Of AGM tagged to the 2016 Annual Report here: https://www.regency-mines.com/wp-content/uploads/2016/12/2016-RGM-AR_FINAL.pdf (See Pg 60) It states: "the directors of the company be and they are hereby generally and unconditionally authorised . . . to allot equity securities . . . up to a maximum nominal amount of �60,000" The nominal share value is 0.01p so that means up to 600m shares. There are currently 576m in issue. "this authority shall . . . expire on the earlier of the conclusion of the next Annual General Meeting of the company or 15 months after the passing of this Resolution" Of course he may choose not to issue any or only to issue some, who knows? For me personally, the next AGM is only 1-2 months away at most so why would I risk leaving money to be exposed to potential placings for the sake of a few weeks?

"Coal RNS Nov anyone?" I'm sure you're right, but I am equally sure any such RNS will be the usual woolly worded load of uncommital rhetoric. Here, let me write the RNS for you, just fill in the blanks Dear shareholders We are pleased to announce . . . . We hope that . . . We anticipate that . . . We expect that . . . . etc

Jumbles - "There has to be a point in a share where jam tomorrow becomes, at the very least, an adequate RNS" lol By the time that happens the SP will have been decimated further and the number of shares in issue much higher. How many times have we seen this iteration ? No-one buys the nonsense any more. How's that high waller lols?

mumbles - "Bring on the coal news....it's coming Mr M" lols, that good ol' jam tomorrow eh? Must be well fermented cos the jam's been a comin' for years ! Anagram time ROSA COAL HIGH WALLER ==> A LOCAL GARISH HOWLER

lol mumbles Time running out for Mr Bell to utilise his authorisation to issue up to 600m shares. Expires at next AGM (usually Dec). Can he resist . . . . ?

Was it a buy? And what then about the 2,500,000 a half hour later over on the secondary market nexexchange? One buy one sell? A net 1,000,000 maybe? Big whoop !

No it isn't mumbles old son. It's not even a tenth of a penny share ! The nominal share value is a tiny 0.01p same as RRR.

Don't bite people

I don't think he sounds nervous at all mumbles. He's just stating the obvious imo. Only the inexperienced would think otherwise. From last AGM resolutions: "the directors of the company be . . . unconditionally authorised . . . to allot equity securities . . . up to a maximum nominal amount of �60,000" Nominal share value is 0.01p so that means authority to issue up to 600,000,000 more shares. I would typically expect AB to slip out at least one "update" RNS before any placing bombshell RNS drops. Tick tock.

Can't help but laugh at MrKnowall's comments TBH. Clearly doesn't appreciate or take account of the history. In effect he is doing the equivalent of bigging up a hopelessly addicted gambler and saying "look at how much money he won on that spin of the roulette wheel!!" and neglecting to highlight the many millions that have been lost on all the previous spins. It's a poor ramp by any standard. Equally a poor rebuff at the realists here calling them bitter negative people. He can be assured that I for one do contribute to my society with voluntary work every week, cooking healthy meals for the homeless and vulnerable, street drinkers and those stuck with substance abuse issues. MrKnowall highlights this particular success where AB has raised good money via the UKOG shares. He neglects to mention (or is simply ignorant of the fact) that AB failed to use that money to pay off the $1m CLN with YA and instead only paid off a small amount of it. The amount left, were it to be paid off early, I believe would still now be more than the original $900,000 (net) loan ! (but as always check those numbers yourselves). This is the kind of thing that imo, puts investors off. Paying the loan off imo, would have been in the best interests of shareholders. There also remains the fact that AB requested authority to issue up to 600m more shares here at the last AGM and that authority will expire at the next AGM (usually December). It will be interesting to see how much of that allocation will be used between now and then if any. It's a similar situation over at RRR but the allocation there was 500m shares.

tradedesk "if Bell does nail Rosa any rerate could be quite explosive here" That's just rampy rhetoric I'm afraid. We've seen with other projects like El Limon and Shoats Creek and DNi etc that people vastly over hype the prospects of each new project as it comes along. You have to wait for ACTUAL production to begin and ACTUAL revenue to start coming in and then assess just how much it is. The previous ramping of the Rosa coal project was as shameless as every other project I've witnessed here. All speculation and ridicous SP predictions. It gets very old. Production first, revenues second and then see where it is at. Using terms like "quite explosive" is not going to impress those who know these companies well imo. We've learned to ignore RNS statements like "we intend", "we expect", "we anticipate", "we hope" and so on. Few buy that woolly language any more and there is little to no "benefit of the doubt" given either. People are wise to it. The ramp crews pumped Shoats Creek for all it was worth. When the 1 day test results stated 300 bopd they ramped like crazy, but those with experience knew to ignore it. Actual production ended up at just 100 to 120 bopd and only for a short while, then dropped to 70 bopd and then to nothing. Similar story with other ventures imo. Greenland, Cloud Computing, Candy Sweets, Elephant Oil, DBar oil, Ivory Cost, Kenya, DNi etc etc etc Just lots of fingers in lots of failed pies, and a continual move to the next new project to tickle the fancy of mug punters. About time really that AB just got one good decent revenue producing project under his belt to prove that his companies are more than just placing enterprises. imo. DYOR

Earlybird: "Fact is at this valuation the market is totally discounting anything happening with the coal business." Yeap, that's because nothing has happened with it and from reading some people's posts there seems to be some question about the high waller that was talked about ages ago. Those with experience of RRR and RGM know to wait until any of the projects/ventures actually come to some sort of fruition before risking their money to be diluted by the various share issues. At RRR people like yourself were waxing lyrical about El Limon gold and then Shoats Creek oil and both turned out to be total damp squibs. RGM's coal project seems to be following suit. AB sought and was granted authority to issue up to 600m more shares here this year. That authority will expire at the next AGM which is usually December. DYOR.

Okenia, your theories are nonsense imo. It's plain common sense. If buying 300,000 shares puts you over the 3% notifiable threshold but buying 299,999 shares doesn't then you obviously buy 299,999. Simple as.

mumbles: "It's just someone buying shares folks" Not quite. It's someone buying juuuuusssssst enough shares to go over the 3% notifiable limit by a tiny fraction. He clearly did need to but did it all the same. Already had 17m shares. Bought 300k more shares. That small increase doesn't show any more confidence than having 17m in the first place imo. So overall just looks like a PR stunt, but each to their own as ever.

I think zumore is off the mark here. Luke is Vini imo.

RNS seems a desperate PR attempt TBH. Who wants to breach the 3% notifiable limit if they don't need to and why do it to just creep over the limit? According to the RNS the investor had 17m shares and bought another 300,000 which must have cost circa £1650. A relatively tiny amount which serves to take the investor just over the limit by a tiny fraction, to 3.0009%. Now why would anyone do that?!!! He could have bought just 294730 and stayed under the notifiable limit. Transaction occured today, 25th, was notified same day 25th and RGM managed to get an RNS out same day 25th. Smacks of a desperate PR attempt to me but just my opinion. Each to their own.