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To rewind slightly back on my 11.04am post. With huge debts i'm not convinced these days RGM any great ability to raise significant amounts of money. So i wouldn't be surprised if RGM is soon finished.

Looking at companies house Andrew Bell first came to RGM when he was 49 years old. He's apparently now 64 years of age. So spanning over 3 decades of his life he's been an utter failure for RGM shareholders. For himself of course it's been wonderfully profitable at RGM but yes for the average RGM shareholder it's been awful.

today are from those who took a punt yesterday. For example the 2233764 share purchase yesterday (cost around £2000) was sold today for £1273. Of course that is a massive percentage loss. Most won't last long making those sort of losses regularly.

Yes booboo, warrants were given with the recent £240,000 placing, so if warrants are also given with the next placing then like you say RGM have around 590 million shares remaining. I guess a 0.05p placing would raise just below £300,000. But of course death spirals YA + Riverfort are expecting monthly debt repayments from July onwards, so i would think by then RGM management would be looking to do another share consolidation + seeking new authority to issue even more shares.

You would also think since March RGMs debts at the US coal asset may have increased by another £500,000. Though i also wouldn't be surprised if the US coal asset as long since closed and shareholders aren't being told.

Like you say huge debts here, garbage management, poor assets. I've long since given up trying to work out why Stephen is persisting to buy shares here because it looks truly awful here.

Mannnan, TDT was quite correct because it looks absolutely atrocious at RGM.

In Jan 2019 RGM took out a new £676,000 CLN.

RGM also owe a different loan and in the 25 March 2019 RNS it revealed RGM still owed over $1 million to the death spiral duo of YA and Riverfort capital.

RGM also have a 47% in a US coal asset. The 11 March 2019 RNS revealed RGM also aren't paying their share of the accumulating debts in this JV. That same rns revealed they effectively owe their coal JV partners $565,000. That rns said:

"The Company currently estimates that a deficit funding situation with its JV partners of approximately $565,000 thus currently exists. Regency's ability to support its obligated share of required investments into MET remains uncertain over the short term"

That same RNS also said:

"Regency has been made aware by its JV partners that an immediate requirement for additional working capital of approximately $400,000-500,000 currently exists, and that additional sums may be required over the next six months in order to complete the full purchase of Omega"
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The RGM 29th March half yearly report revealed that the US coal jv made huge losses in it's first 5 months of coal operations (so from 2nd Aug 2018 to 31st Dec 2018). RGMs half yearly said:

"Losses grew to £1,749,365 largely reflecting Regency's £1,301,157 share of the losses incurred by the US joint venture associate MET".

Remember they only say that's RGMs share of losses. So RGM were making over £250,000 losses each month in the first five months of coal operations. To me the Jan + Feb coal sales look awful, so it's pretty certain RGM are still racking up huge monthly losses on the coal JV.
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Recently RGM managed to scrape together a £240,000 fundraise . To me it seemed a mighty struggle to raise that amount because RGM obviously required way more than £240,000. So with all their mounting debts you do wonder how much longer RGM can survive
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Lots of daytraders made an huge mistake buying into this dreadful mess of a company today. Looking at the trades many sold at a loss later on.

When i saw Dazza announce his buy i thought he was a naive new PI but then i see he's been on lse since 2010. So zero sympathy for his foolish RGM buy.

Just because EDL inexplicably rose 400% yesterday doesn't mean this debt ridden dog can.

Oh yes i've also seen some say that £millions could be offered for Red Rock's Congo assets. Recent past says that if RRR had a few million in the bank that the RRR share price wouldn't be dramatically higher.

So investing in RRR because of that hope would in my opinion be plain silly. Time and time again over the years i've seen people investing in RRR and then patiently waiting for an event to happen and virtually every time their RRR investment dwindled because they got pulverised by subsequent RRR dilution.

Red Rock annual results lse poster "Helpful" said: "If the copper and cobalt deals are are really good perhaps the company will benefit from rolling the CLNs. £3.5mil doesn't go far as working capital if the company has multiple copper and cobalt deals"

When he posted that the RRR share price was actually around todays share price. To be fair to him in this March 2018 https://www.youtube.com/watch?v=eC3EWHcU2ug share talk Bell + Kaintz interview both of them were saying how RRR would soon have £3.5 million in cash. The recent RRR half yearly report however revealed RRR had just £27,000 in cash.

So the perplexing thing for me is, why are people still investing in Red Rock? I ask that because we know when people thought RRR had many millions in the bank that the share price wasn't much higher than todays share price. So if people present RRR investment angle is that they are dreaming that RRR will somehow come into millions and that in turn will dramatically enhance the RRR share price: well recent past says that event wouldn't enhance the RRR share price.

Likewise RRR shareholders (who aren't RRR management) know that whenever Red Rock management receive money because of Red Rock's Jupiter shares, RRR management pass none of that money on to the humble RRR shareholders. So if an investor wants to receive a Jupiter dividend cash payment then obviously they don't invest in RRR, they must invest directly into the asx listed Jupiter.

I've seen another reasoning for some investing in RRR is that some investors dream that RRR will get their Kenyan mining licenses reinstated and this would enhance the RRR share price. Look at this June 2018 rns http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RRR&ArticleCode=1zhwt08d&ArticleHeadline=Progress_Report__African_Exploration_Assets and that explains some of the money RRR would be expected to pay out if licenses were reinstated. These days RRR have no money. So how would RRR pay out that amount of money? Also you can be certain Kenyan authorities would expect RRR to speedily sink additional £millions into the Kenyan asset: if RRR dawdled and didn't then no doubt licenses would be canceled by the Kenyan authorities. So on that front if licenses were reinstated then i suspect it would turn into an absolute nightmare for RRR shareholders and severely damage the RRR share price.
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(1) So we know that incoming money doesn't enhance the RRR share price.

(2) We also know that Red Rock's shareholders (who aren't RRR management) never receive any monetary benefit from Red Rock's Jupiter shares.

(3) We can forsee that if ever Kenyan licenses are reinstated this would create an huge financial burden on Red Rock.
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So what is the point of investing in RRR?

To sum up the interview: Andrew said they've have got over a football teams worth of people searching in a Congo shed.

Poor Stephen. In poker it's called "tilted" when you've totally lost the plot, can't think straight and are recklessly throwing your money away.

I actually do like the guy but he's on a path to ruin and nobody can help him.

That last post should have read:

"Of course fast forward a year and Scott would NOT have a job with his pen because RRR have no money left."

here is a video of Andrew Bell and Scott Kaintz in front of a "whiteboard" from March last year. https://www.youtube.com/watch?v=eC3EWHcU2ug I only managed to watch for 5 minutes but 5 minutes of hilarity. :)

In the video Scott job is to write down how much cash RRR have or are going to get; Scott had it at £3.5 million when i stopped watching. Of course fast forward a year and Scott would have a job with his pen because RRR have no money left.

In first 5 minutes Andrew Bell talks about $3 million royalty payments from Columbia + Red Rock's 22% stake in Steelmin + Bell talks about Red Rock''s Jupiter shares and he wonders out loud whether RRR's Jupiter shares will double or triple in price once they list on the asx.

Of course the fat and thin double act are certainly no Laurel & Hardy (not even little & large) but pretty funny to watch.

tricking PIs into believing that a profit forecast would soon be released from the US "Mining equity trust" coal joint venture. In 7th August 2018 proactiveinvestors interview https://www.youtube.com/watch?v=g_j5YDLCWXE (around 7 minutes 40 seconds) Andrew Bell says:

"And in a few weeks we'll have a model so well constructed and such a good idea of what we are doing, that we are going to be making profit forecasts"
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Then on 8th September 2018 when a shareholder asks where the profit forecast is Andrew Bell on his twitter gets aggressive and bizarrely seems to blame the bulletin boards for creating the expectation of a profit forecast. Of course it was Andrew Bell himself who created the profit forecast expectation in his 7th August 2018 interview. On 8th September 2018 https://twitter.com/AndrewBRRR/status/1038510853232975872 Andrew Bell aggressively (in two tweets) says to a tweeter:

(1) "Who the hell would make a profit forecast public after 1 month of ownership and ops?"

(2)"As it wd be little short of lunacy to ask for a public profit forecast at this stage, and to give one wd be lunacy itself, I'm sure this had nothing to do with it. People shd stop reading BBs!"
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14th January 2019 Andrew Bell does another proactiveinvestors interview: https://www.youtube.com/watch?v=oReMnIE3KHU . The interview brings up the subject of profit and due numbers from RGMs "mining equity trust" coal asset. After much Bell waffle Andrew Bell says:

"But to come out with hard numbers relating to a specific period. Still too early!"
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On 25th Jan 2019 Andrew Bell is forced to step down from being RGM chairman/ceo. But he still remained executive director. The next day he did a sharetalk podcast interview and Andrew Bell tells the interviewer:

"I would just say one thing, people who think i'm wonderful, will have to believe that i wouldn't leave the business in other than good shape. And people who think i'm terrible, should believe that if the business was terrible there wouldn't be people interested in coming in to work in a basket case"
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The RGM half yearly report talked about RGMs "mining equity trust" coal operations. The rns talks about the half year between 1st July to 31 Dec 2018 when Bell was the RGM chairman and CEO. Some rns extract says:

(1) "Operationally the six-month period proved largely disappointing with the MET joint venture failing to produce the levels of coal originally anticipated, with one highwall miner idled due largely to working capital and bonding deficiencies"

(2) "Losses grew to £1,749,365 largely reflecting Regency's £1,301,157 share of the losses incurred by the US joint venture associate MET"
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On 4th April RGM executive director Andrew Bell tweets to a disgruntled RGM shareholder.

"The last 80% fall in the share price of RGM - since Jan - surely 'after my time"?

https://twitter.com/AndrewBRRR/status/1113794222786846720

Booboo this is on a separate matter. We later found out that rgm had written off almost £2 million that they had invested in Stephen Moscicki coal projects during the end of 2016 to mid 2017. We never knew what happened to that lost £2 million. No chasing after it through the courts by RGMs management of Andrew Bell and Scott kaintz. RGM shareholders just had to accept that the £2 million had disappeared and it was never returning to the RGM bank account.

Now onto a different matter, infact your observation that in early 2018 that Andrew Bell suddenly became very flush when in the RGM 11th Jan 2018 placing he took around £95,000 in RGM placing shares.

A month before in December 2017 over at Red rock resources Andrew Bell also splashed out an huge amount on RRR shares.

15th Dec 2017 RRR RNS: " Mr Andrew Bell, a director, has purchased 5,000,000 Shares at a price of 0.6865 pence"

18th Dec 2017 RRR RNS: "Mr Andrew Bell, a director, has purchased 11,500,000 Shares at a price of 0.808 pence per Share"

21st Dec 2017 RRR placing RNS: (at 0.80p a placing)" 6,250,000 Shares were subscribed by Andrew Bell, a director of the Company"
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So according to my calcs Andrew Bell spent around £170,000 on RRR shares in December 2017 and around £95,000 on RGM shares in Jan 2018. So he splashed out during that month time period around £265,000 .

It's like he had a lucky windfall from somewhere?

Bell and Kaintz got their shares (in todays rns) at an average price of 0.025p each share (or 1/40th of a penny). To be honest i think in a few months that will look a terrible price because i think RGM will either be bust or the share price will be much lower than that.

I looked booboo and i can't see selling this past year or so.

Todays RNS revealed 1,516,894,159 shares in issue. If the 20-1 share consolidation hadn't happened over 3 years ago RGM would now have a whopping 30 billion shares in issue.

Also bear in mind after RGM consolidated in December 2015 they then had just 124,871,749 shares in issue but now just over 3 years later they now have over 12 times that amount in issue. So pretty disgusting dilution by Bell and Kaintz. .

each got £5,400 in RGM shares but each only paid £1,800 for them.

Also bottom of todays Regency RNS confirms that Andrew Bell is an executive director (the same as Kaintz) of RGM. The final member of the RGM board is non executive director Edmund Bugnosen.

On the Regency mines website, under "corporate governance", principle nine spells out the matters for the board. It says:

"The Board is responsible for formulating, reviewing and approving the Company’s strategy, financial activities and operating performance. Day to day management is delegated to the EXECUTIVE DIRECTORS, responsible for consulting the Board on all significant financial and operational matters. The Board approves the annual budget and amendments to it, issues of shares or other securities and all significant acquisitions and disposals."
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So hasn't RGM executive director Andrew Bell got some cheek when he tries to distance himself from RGMs dire situation, when being RGMs executive director (along with Kaintz) he's still clearly making all the company decisions and is still no doubt getting paid obscenely.
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I agree Harhoo, this dog of a company should be put down. Bell and Kaintz are a disgrace.

I recall in the past some squabbles over whether warrants count. But in RGMs case at present they have authority to issue 2 billion new shares, so if in total they placed 1 billion new shares and gave those various placees 1 billion warrants. Then RGM couldn't do further placings on the assumption that the warrants wouldn't be exercised because of course they may be exercised and then they would turn into 1 billion new RGM shares.

will conclude that they will need to seek new authority to issue even more RGM shares.

When you think about it the present share authority of 2 billion new shares will raise RGM's leeching management very little money. Yesterday 400 million new shares + 400 million warrants only raised £240,000: so they've already used up 800 million. So if they did a future £300,000 placing at 0.05p, that would be 600 million new placing shares, then if in that placing they also gave out 600 million warrants to the placees then they would've used up RGM maximum authority of 2 billion shares.

https://mobile.twitter.com/RPoulden/status/956252229496950784?p=v

Magic unfortunately these days Poulden has a shocking reputation just like Bell. Just like Bell disrespectful towards PIs and also mates with Winnifrith.

I don't know whether he's still at PCGE but that is suspended.

So yes he may have talked a good game but like Bell he's a total shocker.

Of course as usual no prompt rns when bad news arrives.

Joe you are a rare one because most PIs you see moaning how dire Bell is, is because they learnt the hard way and got misled and got right royally screwed by him. You on the other hand quickly worked him out, quickly concluded he was a billy b*ll****** and avoided his companies like the plague. Of course many weren't so smart because they piled into this because Paul Johnson was bizarrely telling them Bell was one of the stars of Aim.

This on the whitecar website: https://white.car/

Also some complaining on whitecar facebook and saying they've gone bust. Someone on trustpilot also wrote this:

"In 2019 - After did some research and I think the company is actually real and should be ok, last time may be just a bad luck. I tried again, booked for 8 April, Today (3 days before the booked date) I got email simply cancel the booking giving a reason "Unfortunately adverse trading circumstances have resulted in the Whitecar fleet having to be returned to the leasing company. As a result your booking for 8th to 11th April cannot be accommodated by the Whitecar team who are extremely disappointed to have to let you down." (the email sent by the CEO of the company, nice!)

So, for me I guess buying a Tesla is definitely easier than renting one from Whitecar!"
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Though i first read on RGMs hashtag with some saying they've gone into liquidation.