Member Info for zumore

It looks like the poster "beaner" got banned. He / she only opened their lse account yesterday but they had already posted around 60 posts on the VOD thread by this morning. So lol beaner must have annoyed the other posters on the VOD thread.

I tell you what is mental is reading the 25th January operational RNS and then believing that the USA coal asset is doing well.

It was 2nd August 2018 when this JV took over operations at this USA coal asset. In those 6 months RGM still haven't told shareholders if this USA coal asset is making profits or losses but comparing the limited information they tell us against the 2017 revenue figures that they told us the previous owners of this coal asset had achieved,
then i struggle to see how the partnership of Legacy hill and Regency mines are making any profits from this USA coal asset.

From the limited information we've been told about the USA coal asset we know:

(1) Previous owners had revenues of $34 million during 2017. Which is an average of around $2,84 million revenue for each of those 12 months.

(2) A few months later the partnership of Legacy hill and regency mines were sold this coal asset for $3 million. Though the two valuable highwall mining machines weren't included in the sale, so instead Legacy hill and Regency mines would have to lease two valuable highwall mining machines.

(3) Legacy hill resources on their website explain their investment strategy. They say: "Legacy Hill Resources is a private mining company majority owned by its employees. We have a track record in turning around troubled assets that suffer from either poor operational or financial management decisions"

(4) Since the new owners took over coal operations on 2nd August 2018 we have been told revenues for 3 of those 6 months: no revenue figures were given for August, but we were told revenues for September = $1,959,036 + October = $2,015,816 + November = $891,624.

(5) So during September, October, November we know that the new owners of LH & RGM had total coal revenues for those 3 months of $4,866,476; by comparison the previous owners during 2017 had average coal revenues every 3 months of $8.5 million.

So taking into account all of the above plus bearing in mind that the new owners have the additional costs of leasing two highwall mining machines, also bearing in mind that Legacy hill usually invest and take over "troubled assets". So taking all of that into account i can only believe that the most optimistic of optimists would believe that this Legacy hill + Regency mines joint coal venture has been raking in the profits.

This could be a first because it seems beaner accidentally posted on this thread but despite that he is still getting upticks for his post. I can only assume that PIs saw him mentioning Telletubby and Turkey and they thought he was talking about Andrew and Scott.

I'm sure some of the larger shareholders now comfort each other by telling each other that Bell's deterioration was a recent thing but that would be untrue because Andrew Bell is as good today as he was a few years ago. So the big shareholders who removed Bell totally screwed up by overestimating his abilities; and now they fester in this holding hundreds of millions of RGM shares and desperately hoping gullible new PIs will come along.

"People who know nothing, spinning the most negative slant possible"
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You say "know nothing" but those know nothing people knew way more than those who had been piling into RGM these past few years. You've got to believe those big shareholders who had invested hundreds of thousands in RGM these past few years must have kind of rated Andrew Bell, on the other hand those know nothing people had thought he was sh**, useless and totally ineffectual for years. So they may not admit it but the opinion of those big RGM shareholders who removed Bell from CEO/Chairman, must have shifted towards the viewpoint of those who have been saying Bell has been sh*t, useless and ineffectual for years.

a few years ago when he was Russian president from 2000-2008 then he had to mandatory step down for 4 years but while stepping down everybody knew he was still running the show. Then he became president again in 2012 and he's still reigning today. So while AB is still a director at RGM many will suspect he is still directing RGMs course and of course while he remains an RGM director there is always a great chance that one day he will do a comeback and become official RGM leader again.

I certainly don't envy the new Regency CEO because while Bell and Kaintz remain they will be shackled. I mean could they sell RGMs £50,000 in RRR shares or RGMs £100,000 in Curzon energy shares? You would think not with Bell being CEO of RRR and Kaintz being CEO of Curzon. Likewise, RRR and RGM presently share an expensive London office, so could the new CEO insist they relocate RGM offices outside of London to save money? Again you would think Bell and Kaintz would resist giving up their London vanity office. While Bell and Kaintz remain you can think of many other ways the new CEO would be shackled. The new CEO would only gain complete freedom once they've gone.
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After trying many devices last night i finally managed to listen to the interview. From interview it seems big RGM shareholders Paul Johnson and Stephen Pearce suggested the next RGM CEO, so because their friend Darren Hazlewood is now CEO of Panther metals and because Darren held around 4% in RGM not too long ago, then i'm suspecting it may be Darren.

When i typed

"So in April (2017 i too bypassed the company and contacted a newspaper editor who used to report on Rosa in the MCOAL days. He replied back:"

" By their nature, UK RNSes are brief. If one's entire DD on a company is based on reading those (and then reading between the lines) you'll not get very far. Especially with small caps, it's hard to get a sufficiently accurate picture of what's happening without doing additional research - including speaking to the company"
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In my opinion often a good idea not to speak to the company, especially if you believe they are liars.

I recall around Feb 2017 when the RGM coal investments with Stephen Moscicki was in it's early stages and hype from RGM and the rampers was building; i recall a PI completely bypassed the company and instead contacted the local police department near to the USA Rosa mine + one of the local pastors, they told him they hadn't heard anything was happening at the Rosa coal mine. Of course the pumpers laid into him calling him a liar.

By April 2017 the Rosa hype was at fever pitch and RGM were saying coal production at Rosa would be starting imminently. It always seemed strange to me that when previous Rosa operators (MCOAL) were getting ready to begin Rosa production outraged Rosa locals were packing town halls and there was a constant stream of Rosa news articles in the local newspapers, yet i hadn't read one single newspaper article when Stephen Moscicki was supposedly about to bring Rosa into production. So in April i too bypassed the company and contacted a newspaper editor who used to report on Rosa in the MCOAL days. He replied back:

"Any activity at Rosa Mine is news to me. There were rumors floating around maybe a year or so ago that a group was interested in reopening the mine but nothing ever came of it. I'll check and see if anything has been done. I know that the surface mining commission has not put a notice in my paper and I'm almost positive they would have to."

Again like the previous person who contacted the locals, i too got ridiculed and quickly dismissed and the Rosa coal mine hype continued from both Regency mines and the relentless pumpers. Of course recently RGM announced they had peed away near to £2 million on the disastrous Stephen Moscicki coal investments.

So although contacting the management of a company may be comforting for the shareholder, it's often a good idea to bypass them.

Scott Kaintz becoming the new boss of RGM wouldn't be a good idea because like Bell he is part of the RGM Moscicki investments. So someone new needed who could look at the RGM bank accounts and try to work out how near £2 million was spent by RGM on Stephen Moscicki investments.

Here's link: https://twitter.com/DkOkenia/status/1045582369078616064

And not to just cave in on my earlier point. When they mentioned 1000 tons per day in yesterdays RNS they didn't say 1000 tons of "sales" per day for break even. Hopefully the new RGM boss can clarify. And when talking about Kilgore, which is the only area they are presently operating from, yesterdays RNS said:

"Tonnage and quality had been affected in this initial period by some refurbishment of the high wall miner, the development and preparations works being undertaken and the #81 still using the old cutter head while a new resized one was completed which happened yesterday. The new cutter head was fixed yesterday to the machine and, with third party tons, the operation now targets a sales level of 2,200 to 2,300 tons per day from production and third party sales."
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And regarding clearing the air quickly, yes get it out in the open quickly. Don't sit on it and take the blame yourself, instead get it out in the open quickly and blame the right person.

Okenia, here could be like that RNS you put up the other month when some new people took over that company.

Yes i know about the coal blend Stephen. Yet i only recall Bell talking about high grade MET coal at this USA coal asset. You may have heard that it isn't all high grade coking coal, but to the humble shareholder who only reads RNSes or watches interviews then i don't recall Bell ever saying that it was anything other than high grade met coal. I guess bad communication from the previous boss. Let's hope the new one is more clearer and honest with PIs.

Also any new boss who takes over should quickly reveal any nasty surprises that is being presently being with-held from RGM shareholders. That way the blame rightfully belongs to the previous person or persons in charge.

I guess all coal numbers that are presently being with-held from shareholders will quickly be revealed by those next in charge. Again it shifts blame to the previous boss and it shows the new boss in a good light. It would show he or she is more honest and upfront with shareholders.

Stephen if you get a place on the board i'm sure it will be welcomed by most PIs. :)

To hopefully stop any future arguments you'll notice in yesterdays RNS it said:

" MET has reduced Omega's breakeven production level to about 1,000 tons per working day"

Do you notice how they don't say "ton sales"? It's just 1000 tons purely from production.

Also when they earlier said:

"The new cutter head was fixed yesterday to the machine and, with third party tons, the operation now targets a sales level of 2,200 to 2,300 tons per day from production and third party sales"

With that higher number you'll notice they include "third party tons" and they also talk about targeted "sale levels".

So when you said:

"It's break-even at 1000 tpd and they did 43,530 tonnes in Oct. Do the math"

I'm sure on reflection you can see that the break even of 1000 tpd was not 1000 tons sales per day? Clearly it was 1000 tons produced per working day needed by the highwaller. Yesterdays RNS said that the 1 working highwaller was doing two nine hours shifts per day. So i guess in an 18 hour working day 1000 tons a day may be possible.

So i'll finish on a positive note.

"It's break-even at 1000 tpd and they did 43,530 tonnes in Oct. Do the math"
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Okenia i think you got bamboozled by the trickery of yesterdays first RNS.

From the RNS extract below we can see that at present they are using 1 highwall mining machine. With that 1 highwall machine they are targeting 2200-2300 ton sales per day. Of course those 2200-2300 targeted sales will be a combination of coal produced by the highwaller machine combined with the lower grade coal bought from local coal suppliers.

From the RNS extract below you can also clearly see it says "breakeven production level to about 1,000 tons per working day". So clearly those 1000 tons break even are what the highwaller needs to achieve per working day. Those 1000 tons don't include the coal bought from others. By the way in Bell's August interview he said if an highwall machine was working maximum shifts and at maximum capacity it could produce 50,000 tons per month. Of course never giving an highwall machine a break would be unwise, so that 50,000 tons per month is not really possible.

So to correct you, 1000 tons per day breakeven is the tons needed to be produced from the 1 highwaller (doesn't include the lower grade coal bought from others). And the 43,530 ton sales in October that you mention was a combination of 2 highwaller mining machines + the additional lower grade coal purchased from other coal suppliers. So when you used the American term "do the math", unfortunately your maths was wrong.
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Here's extracts from yesterdays RNS.

(1) "The new cutter head was fixed yesterday to the machine and, with third party tons, the operation now targets a sales level of 2,200 to 2,300 tons per day from production and third party sales."

(2) "MET has reduced Omega's breakeven production level to about 1,000 tons per working day."

(3) The second high wall mining machine (#77) suspended operations several weeks earlier than scheduled as the Mudlick seam became thin, and is preparing to move to a new site, a move which is expected to be implemented shortly."
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Stephen did you go? What percentage did he get to be re-elected director? Was it overwhelming or was there a lot who voted against re-electing him?

Just 22 trades (with 6 trades being buys) since he became new Curzon CEO on 6th November 2018. Plus i can't recall any promotion from him + the Curzon share price has almost halved since he became Curzon CEO on 6th November.

So i don't think he's boss material here. Plus when you think of him you always associate him with Bell and you think of the wretched RGM past. So to entice the old PIs to return we need a fresh new start with new blood. Unfortunately no trust here at the moment.

Wtf i thought he was gone.

The stench will still remain at RGM while Kaintz and Bell are still around. And like i said earlier RGM sharing the same offices with RRR is a definite no no.

I know Okenia is a big fan of dog t*rd mass diluter chairman Matt Lofgran. So if either him or Kaintz take over here then there will be little hope here.

RGM and RRR share the same office and so even though Andrew Bell has resigned from his RGM duties with immediate effect, he's actually still going to be in the RGM office.

So obviously that arrangement can't carry on .

"Helpful" you can look at it another way. When the second RNS arrived there wasn't a rush for the door from the devastated RGM shareholders.

What we know is that the USA coal operation doesn't seem to be going well and also RGM are millions in debt. So even though he's gone it still doesn't look good here. Obviously Kaintz needs to also go and then maybe the next boss can dig deep and find out where the £2 million went that RGM invested with Stephen Moscicki.

To finish on a bright note yes the second RNS did contain some positive news.

I'm sure it's pretty easy to make a share price rise at appropriate times. You would simply ask YA to buy shares in the company then just stick it onto the RGM debt that RGM owe YA. That would explain these strange price rises these past few weeks. Such an arrangement would be both advantageous to AB and YA because it would give AB additional votes to re-elect him at the agm + very advantageous to YA because they help keep AB in his job + they get a shedload of RGM shares to hammer the share price at a later date. So win win for both parties.

profit forecasts. Considering next week this Joint venture will have been operating this USA coal asset for 6 months then the profit forecast now seems pretty pointless. I'm sure now PIs just want details of how much losses or profits were made in it's first 6 months.