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LOL cgull. :) I remember former big RGM shareholder Darren Hazlewood total exasperation when he learned RGM had just invested in a car rental company: https://twitter.com/darrenhazelwood/status/944181198200475653

I recall Andrew Bell's reasoning for investing in a car hire company was because he was looking to bring greater attention to RGMs Mambare Nickel-cobalt asset. So using Andrew's same train of thought, if he wants to bring greater attention to Red Rock's Elephant oil investment, maybe he will invest in a taxi company (cos it uses oil in the car).

at the RGM hashtag i see that a few days ago some were saying that car rental company "White car" have gone into liquidation. So yet another atrocious RGM investment by Andrew Bell and Scott Kaintz.

I know we talk about the numerous millions Bell and Kaintz have squandered on the coal this past 2 years but their combined brain power also thought it was a great idea to invest £400,000 in white car and £575,000 in Curzon energy. That near £1 million investment is now worth around £100,000 in Curzon energy shares.

but i see Auntie Ettie posted this today on the ABM thread:

"With Regency Mines set to undergo a strategic review of its projects it would make lots of sense to vend its battery metals /energy storage division in here. They would then focus on their coal assets going forward which is more than enough for a company of its size. It can be done as an all equity deal. Mambare is too good an asset to be left to rot and the other things are quite interesting but ignored by the market in a jumbled portfolio."
.....................

Now for years people have had two schools of thoughts who the advfn poster Atinos Auntie Ettie could be, they either think it's a mad b***** Andrew Bell impersonator, or npd Andrew Bell. Myself i've always thought it was a totally insane impersonator. Though if what they say ends up being true then it probably is npd Andrew Bell.

Most PIs loathe all these interconnections between Andrew Bell's different companies.

RGM = market cap £720,000

DEBTS
(1) In Jan RGM took out a new £676,000 loan with a 12.5% PA interest rate accruing monthly.

(2) In a different loan it was revealed in 25th March RNS that RGM still owe death spiral companies YA + Riverfort a combined $1 million (or approx £770,000). This as a 12% per annum interest rate accruing monthly.

RGM half yearly report 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"

So if 47% JV owners Regency mines lost that much in it's first 5 months of coal operations then it's fair to assume that 53% owners Legacy hill lost an even greater amount in it's first 5 months of coal operations.

The 11th March RGM corporate update rns said:

".Regency has been made aware by its JV partners (Legacy hill) 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 as well as to replenish depleted working capital. Immediate funding is required to restart the second highwall miner and to reduce key creditor obligations that have built up during the periods of reduced production towards the end of 2018"

"Regency's capital contributions to the project having fallen behind that of its JV partners. 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"
........

Half yearly rns said administrative expenses from July 1st to 31st Dec 2018 was £266,873. So that is around £44,000 a month. So going on that average RGM will need around £400,000 for administrative expenses for the remainder of the year.
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To be honest a pretty depressing post so i won't carry on with the other poor things at RGM. But to sum up it doesn't look good here.

photos from Congo on Andrew Bell and Red Rock's twitter. Most are just photos in an old store shed. So nothing important.

Bell seems pretty desperate on his twitter. I guess this tweet indicates he is looking to raise more money to expand the workforce. https://twitter.com/RRR_RedRock/status/1114112826765975552

I know in the past he's compared Red Rock to BHP Billiton and Rio Tinto. So i'm he's probably given the locals the false impression Red Rock are mining giants awash with money. If so that should mean raising lots of money to keep up the pretence.

him >> https://twitter.com/Boardo65/status/1028928533974999040 over the years to a reckless gambler.

Always on the cadge! Always promising his next big gamble will be a big winner. In fact it will be so successful that it will quickly pay off all the death spiral debts and that will mean no need for dilution.

He promises (in proactiveinvestors 7 Aug interview) he will let you know the profits and predicted profit forecast within weeks. However after a few weeks he doesn't reveal the profit forecast and he goes in to attack mode (and even seems to deny he ever made the promise) when PIs press him on the subject.

AB (8th Sept) "Who the hell would make a profit forecast public after 1 month of ownership and ops?"

AB (8th Sept) "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!" https://twitter.com/AndrewBRRR/status/1037809670113710080

Then months pass by and you start to fear the worse because he just won't tell you if his latest big gamble is profitable.

Then eventually those who trusted him and are absolutely sick of him not revealing whether his big gamble is profitable, basically they tell him to pee off when they gather at the 25th Jan agm meeting.

Later it was revealed his big gamble was a big loser and everybody is basically in the sh** because more debts have racked up and there is no money to pay off the gamblers losing bet. Like a lot of hopeless gamblers he tries to reverse it and blames them for not helping him lend more money.

A couple of more months pass and debts have grown larger all because the hopeless gamblers reckless gamble went wrong.

Just like a lot of reckless gamblers he is telling people you can't blame him.

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

Of course most know different because the recent half yearly contained every month he was in charge. Also he picked the big investment gamble...took out the big debts for it...in Jan he also took out a new £676,000 loan. Just because he lily-livered kept quiet how terrible his big gamble was doing doesn't mean it wasn't his fault.

is annoying PIs on his twitter. Taking none of the blame for RGMs dire state he tweeted:

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

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

All these RGM investments are his. All these RGM debts are what he created. So yes this awful state RGM are in is his fault.

Yes at the 25th Jan agm some large holders asked him to step down (but he still remains an RGM director). From the ringing endorsements some large shareholders gave Andrew Bell's next day share talk interview, you can only conclude that he was telling the likes of big shareholder Stephen Pearce that RGM was being left in good order. Did he lie to you and tell you that Stephen?

Anyway Bell definitely lied in his 26th January share talk interview when he said:

" 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 people interested in coming in to work in a basket case"

So just because lots of the bad news was revealed after he stepped down doesn't mean it wasn't his fault. Of course it's his fault!

I see the RGM website still shows him being the RGM chairman + CEO. I hope it's not true but i'm still convinced he'll soon take back his positions.

For years and years i have not rated him and i most definitely haven't trusted him.

https://twitter.com/RRR_RedRock/status/1113755010544828416

Let's say RGM did a £500,000 placing at 0.05p, they issued 1 billion new shares along with 1 billion warrants to the placees. That would be all of RGM authority for 2 billion shares used because on numerous occasions Stephen P as told us that warrants even if subsequently unused will count towards a company's share allocation.

So obviously 2 billion new RGM shares will not go far. So you would think later in the year RGM management will be seeking new authority to issue even more shares.

So it does look truly awful here.

Yes i agree booboo. It sure takes an optimistic mind to believe you can just sit in this share, suffer all the huge future dilution and then come out at the other end with a bigger more healthy investment.

I think soon below that price booboo.

For the life of me i can't think of one good reason why anybody would take part in an RGM placing? The placing money would probably be used to pay off a small proportion of RGMs huge debt (+ Andrew and Scott's wages) + any new placing would probably result in at least another billion new RGM shares coming into issue. So any rns announcing that is hardly going to wow the market.

Plus of course both death spiral companies, YA and Riverfort are waiting in the wings holding a near combined 20% of RGM shares.

Anybody involved in RGMs next placings must be absolute mugs.

Seeing you again reminds me of the former poster RRR4ever.

I wonder if he/she also eventually changed their opinion of Bell.

Yes if i remember correctly you had a £1000 bet with Andrew Bell that the El Limon sale wouldn't complete before Christmas (of 2014 or 2015). He lost and he paid up.

I believe D_S lost 90% in RRR. I believe DTM (though mentioning no name) said his friend lost £1 million in RRR. Though i recall D_S saying that his then RRR stake was only 20% of his share portfolio + he said not too long ago that he had a big stake in Jupiter, so he would've been raking in the buyback + divi payments. So i'm sure he recouped much of his RRR money back.

Just like you he no longer rates Andrew.

Andrew Bell is a very VERY wealthy man.

although not signed who wrote them, it was clearly Andrew Bell who wrote them. And if todays General meeting votes are won today then i think he'll soon return to being the RGM CEO/Chairman. That would be such an huge mistake if that happened because RGM are in this dire mess because of him.

I know many of the larger RGM shareholders also follow Andrew Bell's other company RRR and like the rest of us they must have been absolutely shocked by Fridays RRR rns. In November 2018 some RRR promoters (or pumpers) were guesstimating RRR would have around £3.5 to £4 million in cash when the November annual results were announced. In Fridays RRR half yearly report it was revealed RRR had at the end of December 2018 just £27,059 in cash. So in November 2018 some thought RRR had £4 million in cash but inexplicably by the end of December 2018 RRR had just £27,059 in cash.

Somewhat reminds me of when Regency mines wrote off £2 million that they handed in 2016-2017 to Wetherby coal baron Stephen Moscicki. They never went chasing after that money instead they just quietly wrote it off.

As Anne Widdicombe once said of MH "There is something of the night about him". Exactly the same way i think of AB. Sure time and time again nothing seems to stick but you know something aint right.

This is a bit embarrassing booboo. I was just going to lay into Stephen by saying how terrible he and the others RGM rampers are. But then i stumbled across a list of the all time notorious RGM rampers: http://pumpedordumped.com/rampchecker/rampcheckbytidm.php?search=rgm

We don't fare too good booboo. Stephen is below us on the all time RGM rampers list. :(

a share consolidation.

I don't know what the reason was when RGM previously did a share consolidation but i do remember the Andrew Bell excuse when Red Rock previously did a share consolidation. His excuse for share consolidation (wait for this!)........................................................according to him certain websites could no longer understand the smallness of the Red Rock share price. Here he was explaining in the November 2015 RRR newsletter:
....................

"Finally, a quick note on resolutions 7, 8 and 10 at the AGM. Some have asked the meaning of these, and a few have looked behind the text to suggest motives other than the obvious. But the obvious explanation is the correct one. The answer is that these resolutions would have the effect, taken together, of consolidating every 25 shares into one. These resolutions, as combined, are the standard mechanism – the standard resolutions - by which that result is achieved. The expectation is that the price would then trade in the region of 0.5p plus. The reason for this in our mind was that the price does not at the current level display properly either on the LSE/AIM price page or for example on services like Bloomberg and Yahoo. Their methods of dealing with numbers after the decimal point varies. Some apps and services can cope, but others can’t, which is a great inconvenience to many people, and means that the price movement displayed and the price displayed may not be consistent. If we, as management, sitting in the office, can be uncertain what the real price is at any moment, it is unsurprising that shareholders are also. This can only reduce liquidity, which depends on transparency. The consolidation is to a level that is still easy to trade, and will leave a number of shares outstanding large enough for good liquidity.

Our analysis shows no evidence that similar consolidations have any adverse effect on price, or in altering a trend from that already established.

Yours

Andrew Bell"

Yes booboo, this price is collapsing at a super quick rate. i can remember a few weeks ago you was saying what a great then sell price 0.15p was. You was proved right because that sell price would be just a dream sell price now.

Yes booboo, certain large holders may not like to hear this but Bell hasn't suddenly got bad because he's as good or bad as he always was. Unfortunately some had developed a rose tinted view of Bell and they bashed those down who disagreed with them. It seems it will prove very costly.

I may be wrong but i think some hold around 100 million RGM shares. I think if RGM survives then in a year or two if anybody has got 500 hundred quid spare, they'll probably be able to buy 100 million RGM shares for that.

Booboo, if they eventually end up inside i think both will be safe.

https://twitter.com/CurzonEnergy/status/1111969501971734529

https://twitter.com/RRR_RedRock/status/1111944345299628032

There is almost 1.1 billion shares presently in issue at RGM. If that rule still applies that anything raised over £200,000 and then the death spiral lenders will receive a third, then we know that RGM will have to raise an huge amount to pay them and also to fund the money for the USA coal operation. So if they do a fundraise via placing then you would think within a few weeks RGM will have well over 2 billion shares in issue.

I always liken RGM to a modern day freakshow: it's fascinating to look at but you would be absolutely bonkers to invest in it.

I thought the same booboo, 2 billion new shares won't raise a lot, especially so if placees also want warrants.

To be honest yesterdays rns was a mess, with the new accounting methods it was unclear to read and i felt they were holding back certain information. I mean if they owe certain US coal mine suppliers money then i'm sure they could hold back that particular information from yesterdays report.

The half yearly report was info up to 31st Dec 2018 but since then RGM took out another £676,000 CLN + the March rns said RGM urgently need big money for their USA coal operation + that same RNS also said that both January + February's coal figures were also very poor. Of course on top of that recently death spiral companies Riverfort and YA have received around 20% of RGMs shares. So things definitely haven't improved this year.

And burningspear is absolutely correct that Andrew Bell doesn't see this mess as his fault. It doesn't matter to him that he racked up the RGM debts and did the RGM investments. For example on 25th Jan at the AGM some large RGM shareholders wanted Bell to step down being the RGM chairman/ceo, i believe he told them face to face that he had left the company in great order. In fact the very next day when Andrew Bell did a share talk interview he said:

"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"

Of course it was later discovered that Bell was lying through his teeth and this company was indeed a basket case that he had left in terrible order. Of course to liar Bell that doesn't matter. All that matters is that when he pretended to step down he told everybody that the company was in good order. So that is the truth in his head.

By the way it's UK investor show day today. Is Andrew Bell (like he did in previous years) sitting on an expert panel again? LOL chucking hell!