Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The truth is the company still has some good assets. As we know Jupiter is £4million. I don’t think the El Limon mine royalties would sell for the full value RRR gets, but someone could pay something. Say £1million.Same for the iron ore royalties from Jupiter. Migori is worthless but we might get something off the Congo asset. I reckon shareholders could get nearly a pound a share if all goes well. This will certainly lead to a loss for many but not nearly as big a loss as will happen if Bell keeps running this to the ground.
Perhaps a forensic audit might get some more money out of AB’s foreign bank accounts and into the shareholders pockets but I think that might be wishful thinking.
So another zero * 5% for shareholders
A few years ago the manganese price shot up and JMS had a huge buy back, netting RRR millions. Over a million of that was wasted on Steelmin and half a million on Amulet diamonds. Last year the manganese price was over $6 DMTU, which resulted in great dividends. These have been fluttered away too. Whether JMS is 40c a share or $4 a share, the only people to benefit will be the directors of this company and the lucky lucky people able to convince AB to invest his shareholders money in their going nowhere businesses.
Truth is, even if I am wrong about zero ounces, the shareholders won't see a penny of it. ~£2 Million of money received from Jupiter has vanished into thin air. How can anyone believe $3 Million from Para will be any different?
Gold is shooting up. Now , instead of getting zero ounces * $1340 an ounce, we are getting zero ounces * $1450 an ounce.
Para resources down 2 cents today helpless. Guess you need to pull at these straws now that you can’t do that ramp any more
When they had £2million cash, the Kenyan government might have considered them for a licence. Now AB has f*** that up just like everything else he’s ever touched.
According to this clip, RRR would not be considered for the Migori licence because they could only raise £500k, not enough to start a mine. Now that Bell has blown £2million and had to scramble to raise £250k for the Congo, there is no chance of getting it. His visits to Kenya are only to give the impression something is imminent and he should be kept in his 6 figure salary.
https://youtu.be/ktKeoqqNBDI
Para resources looking to produce 10 000 ounces at El Limon next year. With RRR receiving their royalties on this it will only take 6 years to recover the money AB has blown in the last 6 months
I bought into this company just after they listed. The shares were 30p and there were 50 million in issue. Since then I’ve learned some important lessons
1. Any purchase before there is commercial production is purely speculative. “Game changing” news flows in every few months and has resulted in nought.
2. David Sefton is better than his predecessor but is still not an honest man. His latest fundraise pushed the shares down to around 10p where they remain. This shows that there is a general consensus that, despite his assurances, this could well happen again.
3. If every time a ramper who said “I’d better top up. The price is about to surge” actually did so, we would need to issue another billion shares just to meet these orders.
Half the Jupiter shares came out of escrow last week. Now we’ll all watch helplessly as AB sells them down and syphons the money out, while helpful posts random tweets about whatever hair brained scheme AB decides to pretend the money is going into is the next big thing. Last nail in the coffin I believe.
The new ESMA rules have hit IG, but there are three good things going for it
1. The growth in Asia Pacific comes against a low pound which brings in more at GBP values
2. The company has re-established itself in the US.
3. There is a very recent renewed interest in crypto’s. Although the ESMA rules won’t allow for the profits made in the 2017 surge, there is still plenty to be made.
£308 million debt was before 250m Mr Green purchase. The debt they took last month (due 2026) is essentially a rollover of the debt repayable in 2020 and will likely be used to pay what’s due. However, between now and then there will be around £50 million in interest payments and, if the cash they have needs to be earmarked for debt repayment, there isn’t much left for expansion into the US.
I agree William Hill is a good brand and they are strong in Nevada but with GVC and Paddy Power-Betfair focusing all their attention on the US, William Hill has a big fight on their hands.
People are cutting their losses. Now that the FOBT’s are gone the two biggest revenue streams are football and horse racing. Cheltenham was a disaster for bookies, with favourites winning many races. A favourite won the grand national and, although William Hill said they still made money, it will have been a lot less than the amount they rely on from this race every year. Liverpool was the most backed team in the Champions League an are in the final with Tottenham who were heavily backed too.
The two Europa league favourites were Chelsea and Arsenal, who are now the two finalists. Added to that the ~£1 billion they have in debt, credit is going to be very hard to come by. I think a fund raise is due and people are selling before this is announced.
Cat got your tongue Helpful?
"AB's the numbers are better at Musonoi"
"AB has hinted that the working theory is that the fragment at Musonoi goes down to a similar depth or deeper"
"AB has said he thinks Musonoi is worth north of £100 mil"
Have you not learned that AB is a liar? Just 2 weeks ago he was interviewed at the investor show and said there was no need for more fundraisers. He is deliberately misleading investors and needs to be removed.
Just 6 months ago there was in excess of £2million. All gone on irrecoverable loans to Bell affiliated companies. The man needs to be in jail
ie he had £100k of his own money to invest. Why put it towards propping up a dying business instead of going for the huge RRR returns?
Andrew Bell recently put a large amount of his own money into ABM. If RRR is trading at such a discount, why isn’t he buying up shares here, safe in the knowledge he will get more than ten times his investment in the very near future?
I agree 100% with TrickyDickyTwo. The problems is and always has been Bell. Get him out and this company will be worth something.