Member Info for zumore

On the RGM website (in the corporate goverance section) it also says:

Audit Committee
"The Audit Committee considers the Company’s financial reporting, accounting policies and internal financial controls. It is also responsible for ensuring that the financial performance of the Company is properly monitored and reported on. The Audit Committee reviews the annual and half-yearly financial statements, to ensure that they adequately comply with appropriate accounting policies, practices and legal requirements, to recommend to the Board their adoption and to consider the independence of and to oversee the management’s appointment of the external auditor.

The Audit Committee is comprised of Edmund Bugnosen, Non-Executive Director as Chairman and Andrew Bell, Chairman. The Audit Committee meets at least twice a year, once with the auditor. The CFO will attend the Audit Committee’s meetings as requested by the Committee"
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The CFO is Scott Kaintz.

So i guess AB decides decides what "Bell facts" to put in it. Then Chapman Davis sign it off.

Here's a list of Chapman davis llp clientele: https://www.adviser-rankings.com/adviser/overview/588/chapman-davis-llp

Booboo, to be fair to Stephen that $30 million 10 month prediction is what RGM management were predicting in their 4th September 2018 RNS: http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RGM&ArticleCode=7lv2141x&ArticleHeadline=Sales_and_Revenue_Forecasts_at_MET

Yesterdays RNS said they've so far achieved $10 million revenue in the first 7 months and so that is way below company expectations.

Like you say in yesterday RNS they seemed to have changed story of why the highwaller is inactive. Also yesterdays RNS said "and that additional sums may be required over the next six months in order to complete the full purchase of Omega". Now i may be wrong but i think RGM shareholders were led to believe that the Omega purchase had already been paid for.

An interesting point in yesterday RNS is that for the first time RGM mention August 2018 coal sales and revenue. The RNS says 74,673 tons of coal were sold in August 2018 which achieved revenues of $3,075,530.

Now i find those figures hard to believe because August revenue figures and sales totals have never previously been mentioned, and bear in mind those numbers were far superior to every other month. So considering the joint venture took over production on 2nd August, then i suspect those RNS August figures may be inaccurate.

released a dismal looking RNS http://www.lse.co.uk/share-regulatory-news.asp?shareprice=CZN&ArticleCode=p8j***js&ArticleHeadline=TR1_Notification_of_Major_Interest_in_Shares which revealed YA still own near 40% of Curzon shares.

It boggles my mind that Andrew and Scott thought an RGM £575,000 investment in Curzon would be a good RGM investment when you consider that YA owned around 45% of Curzon shares when Curzon IPO'd.

That initial £575,000 investment is now only worth around £70,000. Plus these days the atrocious Scott Kaintz is the CZN CEO, so you would think the share price is bound to go lower.

i see Andrew Bell blocked you because you posted dismal looked RGM graphs.

I can remember you saying when you attended the agm Scott Kaintz filled you with confidence about the USA coal asset.

So on reflection do you believe he was feeding you BS to fob you off?

I always imagine when concerned investors ring up Andrew or Scott they give each other a little wink and then they go into overdrive and spin the BS so the PI hangs up full of confidence and happy. Then the dastardly duo have a good laugh about it.

Booboo, i too wondered that because both sums were separated in different paragraphs. The rns yesterday also said: "Immediate funding is required to restart the second highwall miner AND TO REDUCE KEY CREDITORS OBLIGATIONS that have built up during the periods of reduced production towards the end of 2018"
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Notice the word REDUCE and not completely pay off. Who are these key creditors? They could owe money to various suppliers, maybe the people they buy the additional coal from, maybe they owe money on the highwallers, maybe they owe money to Dominion for under supplying them the coal blend.

I don't believe yesterdays RNS told the full story about the debt racking up at the USA coal asset. Remember in January RGM took out another CLN loan. They may have long since used that to pay off some of the accumulating debt at the USA coal asset.

Let's hope the RGM half year report that should be released in around two week comes clean about the racking up US coal debt.

"Have you no regard for poor Bell's welfare at all? How cruel and heartless. I think we should all dig deep and have another fundraising. That's my opinion and I am sticking by it."
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LOL!

Looking back at yesterdays RGM rns it reads more like a tantrum RNS and i've got little doubt Andrew Bell wrote it. I also believe "Helpful" when he says Andrew Bell would very much like to return (from present RGM director) to being again the RGM / CEO chairman. Looking on the RGM website it still says he's the RGM CEO/chairman.

This may be unpopular with some but if were a big RGM shareholder who's RGM shareholder had already been decimated, then if had a choice of giving Bell/Kaintz permissions to dilute me further into oblivion, or i had the other choice of preventing them from doing that and effectively killing off RGM and ending Andrew Bell / Scott Kaintz £100,000 + RGM paypackets each year, then i choose the latter option and they are going down with me.

In life nothing more pathetic than seeing grown up children like Andrew constantly peeing away mummy/daddies (shareholders) money and then believing it's there god given right to be bailed out once again. Eventually you have to put your foot down and let them know that constant failure shouldn't be rewarded.

Please don't tell me you are the one who set up the 14th January RGM loan notes? If you did and got some of your poor clients to invest in them then how incredibly reckless of you because come May 2020 RGM may no longer exist.

in that RNS. Of course according to Andrew it's absolutely nothing to do with him, which is crazy because his cr*ppy investments and monstrous death spiral loans are the reason RGM are in this dire mess.

https://mobile.twitter.com/AndrewBRRR/status/1105115830843514891?p=v

Yes Joe i remember the trickery of that RNS that tried to make pi's believe that Moscicki had invested his own cash in RGM.

Looking back at those old RGM rnses one of the most dodgy to me was the 24th November 2017 rns: http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RGM&ArticleCode=j6qbjfb5&ArticleHeadline=Update_on_Metallurgical_Coal_Investment

We now know RGM handed Moscicki near £2 million. So what doesn't add up about this RNS is, RGM by this stage had handed near £2 million to Moscicki and he had given them nothing in return. Yet here was RGM handing him another £34,800 to carry out 60 days dd on Rosa.

If somebody had ripped somebody off for near two million not a chance in hell they would hand them further money. So i conclude that Bell was still pally with Moscicki and in Bell's eyes Moscicki didn't rip him/RGM off. After all RGM have never chased after that £2 million.

On to another topic. That Christmas time out of nowhere Andrew Bell bought around £100,000 in RRR shares. So i assume he must have had a windfall from somewhere.

I forgot about the £575,000 of RGM money Andrew Bell invested in Curzon energy. He was hoping Curzon's USA coal methane asset would be successful and it would make America great again. Of course that was yet another dismal USA investment failure by Andrew and RGMs Curzon investment is now worth only around £75,000.

weird Donald Trump obsession could have finally destroyed RGM.

It started a few years ago when Donald Trump said he liked American coal. That made obsessed Andrew invest almost £2 million of Regency mines money into Stephen Moscicki's USA projects. Obsessed with Trump he then bizarrely started tweeting MAGA! MAGA! At the time i was unsure what he meant by MAGA, then i just concluded it meant "Mad Andrew Goes Apesh*t": apparently i was wrong and it meant "make America great again". Well Andrew didn't make America great again because he peed away near £2 million of RGM money on Stephen Moscicki's disastrous US coal projects.

Then again last year Andrew Bell attempted to make America great again by investing an additional $2 million in another USA coal project but all the signs suggest that is also going to fail. So with the stacking up loan interest it looks like Andrew Bell has lost around £4 million of RGM money on these failed USA coal projects. The funny thing is coal prices have been pretty good these past few years and so slumping coal prices are not the reason for these USA coal failures.

Apart from the USA coal failures i also remember when Andrew decided to invest RRR money in US oil asset Shoats creek. Of course he didn't make America great again with that either because it was yet another USA Andrew Bell failure.

and shockingly Regency mines management are still refusing to tell it's RGM shareholders whether it's joint venture coal operation is making any profits.

The RGM half yearly report, which should reveal RGMs financials (between 1st July 2018 to 31st December 2018) must be released by 31st March, so at the very latest it must be released by Friday 29th March. So you would hope in that half yearly report the USA coal mine financials between 2nd August 2018 to 31st December 2018 will finally have to be revealed. Of course this is RGM, so that important info may not be revealed but you would hope it is.

Usually when RGM management go silent it almost certainly means they are hiding bad news. So if it's eventually revealed (maybe in forthcoming half yearly report) that this USA coal operation is making big losses then i would expect a further collapse in RGM share price because RGM have huge debts and it's other assets have very little value here.
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To finish on another topic, John Boardman, who's company sold RRR it's Congo assets, explained to a shareholder why he thinks Andrew Bell resigned from being the RGM CEO / Chairman. By the way Andrew Bell liked his tweet. https://twitter.com/Boardo65/status/1102210862952169474

John Boardman tweeted:

"Good call. 1620 have a major shareholding in RRR a proven track record in the DRC introduced 6 ASX companies past 18 months (our back yard) and working with him to help deliver this company changing project. As for Regency Andrew knows he’s bigger fish to fry that’s my opinion."
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Funny by John. Everybody knows Andrew Bell had near 14 years at RGM to turn them into a big company but he stepped down when they were near to ruins with rubbish assets and massive debts.

Yes and that CLN was originally taken out so RRR could repay back some of the huge loan that they had taken out so they could lend money to Steelmin. RRR originally took out the CLN in November 2017. That 10th November 2017 RNS said:

"We shall use the proceeds primarily to reduce our exposure under the back to back financing facilities we took out to enable our investment in the Steelmin ferrosilicon plant at Jajce (announced 23 June), which proceeds towards an expected January 2018 production start date."

That 10th November 2017 RNS also said:

"The interest rate on the Notes is 10% per annum, accruing monthly"

So i personally find it laughable when some try to make out that the Steelmin deal was highly profitable for RRR because RRR still have a near £1 million debt because of Steelmin + this CLN debt has been accruing monthly interest since November 2017.

Hi booboo. Very good last post and i'm nodding in agreement with all of it.

I'm not going to make this post long but it does look dreadful here. You would think when PJ's finished offloading the rest of his RGM shares this share price could be near 0.10p. Then you look at the huge list of the other major RGM shareholders https://www.regency-mines.com/investors/shareholder-information/major-shareholders/ and then you wonder what share price would it be when they get out?

Then of course the constant thirst for money the leeching directors always require. Plus of course the massive debt RGM owe the likes of YA.

So to me it looks pretty bleak here at RGM.

In my last post Autospell annoyingly turned "coal baron" into "coach baron"

Yes booboo + lots of that £2 million that RGM invested with coach baron Stephen Moscicki.
,...........

https://mobile.twitter.com/Stale_Bull/status/1079025443729260544?p=v

Magic, if you click that above tweet you'll see DTM mentioning what d eventually lost in RRR.

Kaintz became CEO of CZN on 6th November. Look at the misersble amount of trades since he took over.
Then Kaintz and Bell at RGM and RRR = again very few mugpunters will invest these days.
Likewise Bell and Johnson over at ABM = again virtually nobody is interested.

So I personally think it's long over for all of them.

I agree, it is amazing that essentially just two people Andrew Bell and Scott Kaintz run two AIM listed companies, Red Rock & Regency mines, they both share the same office, yet during 2018 the administrative expenses of Red Rock was £849,518 and the 2018 administrative expenses for Regency mines was £735,697. So combined that is £1,585,215 of administrative expenses during the 2018 financial year. . Or over £30,000 needed each week.

That is an amazing amount for just two guys in an office.

at one of Andrew Bell's latest tweets: "Off to Lubumbashi Monday! Exciting times - there and in Kenya"

So because he was out of the country on RRR business this week and he's only flying back for an RRR presentation on Monday. Then he's flying out of the country again on Monday to go to Congo on more RRR business. So maybe i wrong and he won't be returning to being RGM ceo and chairman because he seems to be spending zero time on RGM these days.

I wonder if Scott Kaintz is accompanying AB on these RRR business trips? If so it would mean absolutely nobody is running RGM at present.

When i said the other day that i thought the RGM share price would be below 0.05p within 12 months. Thinking about it i think that post of mine was a rampy prediction because this shareprice is dropping like a stone and it could be that share price within months.

Booboo, RGM pulled out of the presentation yesterday: https://twitter.com/Share_Talk/status/1098517971402661889
I was half expecting that to happen because RRR twitter last week said Bell was away in Kenya and Congo this week (on RRR business) https://twitter.com/RRR_RedRock/status/1095679489055621120 also a later tweet said he didn't have to return until the 25th February, so that ruled him out presenting on the 23rd. And of course still no new CEO or Chairman here, so i wasn't surprised it was called off.

In regards to Johnson, he joined Andrew Bell at ABM (formerly called SULA) the other week. So i'm guessing either Bell gave him the nod that the RGM coal figures are going to be dreadful and so therefore he's now offloading his RGM shares at a furious pace; or alternatively he's now well and truly abandoning his loyal big RGM shareholder "friends" so he can help out Andrew Bell at RGM. With two adjournments (so far) obviously the big RGM shareholders don't want RGM management to disapply the pre-emption rights at RGM. But with Johnson now selling he's probably swung the vote firmly back in the favour of RGM management: so completely sc***ing over his big shareholder friends who wanted Johnson to stick with them. Also with Johnson selling it's probably enabled Bell to return to being RGM CEO /Chairman because Bell was probably only bothered about big shareholder Johnson at RGM.

When PJ meets or talks to the big RGM shareholders who often follow him into a share he'll probably use the excuse that i've seen him use in the past "her indoors was selling, not me". If they would believe that they would believe anything. Never met the guy but he seems a sneaky snake in the grass who pretends to be friends with everybody.

Regency mines does look a complete mess. The half yearly report will have to be released by the end of March and so that would mean the RGM financials between 1st July to 31st December. So you would think that the profits or losses for the first 5 months of this USA coal venture will have to be revealed. Though even then i'm not banking on RGM coming clean, but if they do report that the USA coal venture has been making big losses then you would think this share price would be going well under 0.10p.