The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Rns of 29th november last year said they had 74.5million. Andrew said in a recent interview they still had most of them. So i would take that to mean they still have more than half. So at least £150k worth at current prices.
So they found an issue during comissioning and fixed it. Now in commercial production and ebitda positive, see RNS. You really shouldnt be so negative on this plant, which is providing a massive boost to the town of Jajce, providing much employment to thos beautiful part of Bosnia.
"Same old aliases start to pump". Unlike mrmagic and the "same old aliases" that continually deramp regardless that the share price is up 60% from its lows, the company has plenty of cash for the first time in years, with regular income streams and possible positive newsflow on any number of fronts over the coming weeks and months
Yes there will be commissioning costs, which of course will be fully budgeted for. Commissioning wont have come as a surprise to Steelmin. Margins aren't tight though as you state below. At 1200 euros a tonne predicted margin is 33%. However the price is now 1500 to 1600 euros per tonne so i would expect margins to be significantly higher than this.
Not sure how many industrial facilities you have refurbished and brought back into production but these things arent easy and take time. Deadlines slip. It happens. That is no reflection on RRR who have got the 22% stake at less than zero cost. (They made money on currency exchange). Once its working, which it will be, and RRR hold 22% of a company earning over £10m a year there I am sure youll find another reason to still state its a bad investment but hey, each to their own
Fortunately unlike mr magic, the market looks forwards and not backwards. The past is in the past. Done. We are now sitting on £3m of cash. Steelmin finally going into commercial production. Jupiter throwing off decent cash. Possible kenya news also. However much you gaze into the past wishing things had been done better or differently, it is blatently obvious that this is a screaming buy at this price.
Thats absolutely superb news. Thanks for finding and sharing. As we saw last november on our visit to the plant, this project will transform the lives of 150 families at least and will breathe new life into the whole town of Jajce. The economics for Steelmin shareholders are compelling as well. Win win all round. (Well apart from mrmagic et al who never concede that RRR can do anything positive)
RNS. So we know that when the IPO happens on 18th april, red rock will recieve £1m or thereabouts from the sale of 20% of the jupiter holding. It will retain 18, 524, 914 shares at aud 0.40 which equals £4m or so. The market will define it goes from there. Mr magic unsuprisingly thinks the jupiter price will tank, based on nothing other than total negativity on everything. I think the opposite, bearing in mind jupitet have committed to pay out 70% of profits as a dividend.
Cant see how stating facts is ramping? Maybe it is in your world.... There minimum dilution from warrants as you well know. The dilution there is is only because the share price has gone up so much since they were issued. Hardly a big issue when the projects are all valued at around £3m currently...
I bought in here and have been posting since november. I was looking for a number of beat up shares with low sentiment that had been bashed to death and that had a low share price and excellent turnaround potential. This fitted the bill perfectly. Jupiter value will be determined by the market after 18th april. This will clearly define its value and remove another of the bashers constant whines about it having little value. Job done (nearly- 4 weeks to wait). Todays news putting in place a clear timetable to IPO is superb. Other whines have been Steelmin. It wasnt ever going to be able to get refinanced according to many. Job done. Steelmin production is imminent. Having been there it really is an excellent asset. The story there is just beginning. Whats next? Kenya? $750k in from Colombia? DRC cobalt? Who knows. With cash in the bank soon to be circa £3.5m, valuing Steelmin, Jupiter, Kenya et al at £2.5m at the current price. An absolute bargain at 1.15p. I was happy when i bought in and am even happier now.
I take it you will post your well reasoned research as to why RRR is massively overvalued then. Ive posted my research as to why i believe the opposite, which has included a visit to Steelmin, attendance of meetings with the board etc etc.
Being pumped. Jeez there are some desperate people on here. No chance the share price rise is because the company is plainly massively undervalued then.... Steelmin could be worth £20m plus on its own to RRR nevermind jupiter, the cash in hand and everything else.
Look forwards and learn from the past. One thing i do know is that any mistakes from the past will have been learned from and will not be repeated. I dont know too many, if any, successful people that have not failed at something to one degree or another. Its how they learn. I know plenty that have never succeeded because they have never tried...