Member Info for zumore

Considering the second highwaller suspended coal operations "several weeks earlier than scheduled" and the first highwaller only began operations at Kilgore just before Christmas, then it's pretty certain virtually no tons were sold in December, on top of that only a lousy 20,006 tons sold in November. Based on that you've got to believe they under-supplied the power plant who they have an offtake agreement with. Usually when a company doesn't supply the promised contracted coal they will get hit by a massive penalty. Of course that isn't mentioned in the RNS.

Also seems the suspended second highwaller won't be operating again until around March. So of course that's not good.

I'm sure there is an huge amount of trickery in todays RNS. Definitely a burier RNS with the lousy coal news buried in the middle.

I'm on off with my sympathy for the larger RGM shareholders but if they again re-elect Andrew Bell at todays RGM agm then i will have zero sympathy left for them.

"Regency will commit to and fund a minimum spend of CAD$150,000 exploration in the 12 months post acquisition"

So RGM are willing to commit around £90,000 on exploration in these next 12 months. That is a very small amount to spend on exploration. Though no doubt Harry will soon come along and make out a major drill campaign is about to happen.
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Also from RNS:

"Application is being made to AIM for 58,442,933 new ordinary shares allotted to the Vendor to be admitted to trading on AIM. Admission of the new Ordinary Shares is expected on or around 30 January January 2019.

Following the issue of the 58,442,933 new ordinary shares, the issued share capital of the Company consists of 877,254,015 ordinary shares of 0.01p each with voting rights"

WOW now 877,254,015 RGM shares in issue. When RGM did a 20-1 share consolidation just over three years ago they only had 124,871,749 RGM shares in issue. Though if that RGM 20-1 share consolidation had never happened then RGM would now have around 17.5 billion shares in issue. So you can certainly see how one of Bell's many nicknames is Mr Dilution.

LOL only in a desperate clutching at straws mind would you believe some big company would make an offer for Red Rock DRC assets. MOD and MTR invested 10s of $millions progressing their copper project and no doubt that dedication and relentless progression attracted a MOD approach from a bigger company.

Red Rock don't have much money, they'll be progressing things at a static tortoise pace. So these DRC assets are absolutely worthless in their present state.

I cannot say i've been closely following MOD. Though what i know is that these past couple of years MOD & MTR have invested 10s of $millions to quickly and relentlessly progress their Botswana copper project. So i'm guessing this dedication and quick progression was a major attraction to Sandfire.

From my observation projects with AB often dawdle along year after year with little progression. The scatty lots of projects approach often advances projects at a tortoise pace.

Though to look on the positive side, if AB were to show dedication and relentlessly and speedily progress a DRC asset and it turned out to be an excellent asset, then who knows maybe a big company would show some interest. At the moment i don't think so because nothing really happens here at a fast past.

Watching you reminds me of one of the more famous scenes from the hit tv show "breaking bad".

For people who haven't yet watched the show i won't be too specific but in the scene Walter is desperately trying to persuade and reason with people who want to kill a person who is close to him. Then that seemingly doomed person butts in and says "Walter, you are the smartest person i know, but even you are too stupid to see, that they made up their minds 10 minutes ago"

Now that scene reminds me of you because day after day, week after week, this past year or so, i see you desperately trying to persuade and reason with AIM investors that RRR is a good investment. But i believe the pool of AIM investors is relatively small and an huge number of those investors over the years will have already invested in an Andrew Bell company and positively hated the experience and will never ever be investing again in an Andrew Bell company. So i believe your attempts are futile and pointless because those AIM investors you require i believe made up their minds long long ago.

That is the problem with being loyal to a chairman who has been at the helm for almost 14 years. They gain huge baggage, huge mistrust, previous investors can go into detail of the woes of years gone by. So being loyal to these longtermer chairman in my opinion isn't really in best interest of investors.

Fresh new chairman, fresh new start, is a no brainer to me. That way it's easier to wipe out the nightmares of the past. I think the share price could rise well if that happened.

when you become paranoid that they are trying to oust you. :)

Should read:

"With near 14 years of failure at RGM he DOESN'T deserve to be re-elected"

should be SACKED RGM chairman /ceo at the Regency mines AGM on 25th January

should be re-elected RGM chairman /ceo at the Regency mines AGM on 25th January.

You just know he's going to hold back any coal bad news until after he's got re-elected.

With near 14 years of failure at RGM he does deserve to be re-elected.

SACK HIM!

in RNS dated 28th November RGM give the revenue and tonnage for the USA coal operation in October: At the end of that RNS it says

"This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014."

So it stands to reason if Regency mines are now not disclosing revenue and tonnage numbers for the later months of this USA coal operation then they are now withholding inside information.

Here's that RNS. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RGM&ArticleCode=as6kdk08&ArticleHeadline=MET_Coal_Update

that RGM / Bell aren't withholding RGM price sensitive news from investors.

For example if at the USA coal operation Bell knows November coal tonnage and revenues then he's sitting on price sensitive news; the same with December coal figures; also if Bell knows whether this coal JV is making profit or losses then again he's witholding and sitting on price RGM sensitive news.

FROM AIM RULE 11:

" AIM Rule 11 imposes an obligation on AIM companies to disclose “any new developments which are not public knowledge which, if made public, would be likely to lead to a significant movement in the price of its AIM securities” to the market without delay. "
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- This USA coal asset is Regency mines prize asset
- it's the only asset of importance that RGM have
- it's RGMs only asset that could generate revenue
- RGM took out an huge loan to invest in this asset
- because of this USA coal asset RGM are now in massive debt.

If RGM are withholding price sensitive good or bad information on this USA coal asset they need to be disclosing this price sensitive information in an RNS.

https://www.youtube.com/watch?v=oReMnIE3KHU

Even though this JV have been operating this USA coal asset for near 6 months, he's avoiding giving any numbers these days. When interviewer asked Bell about them he replied:

"To come out with hard numbers relating to a specific period ........still too early"

They must be making big losses with the coal because if they were anywhere near to making profits they'd be releasing full numbers, showing the profit/losses in the first 5 months, also showing what numbers they would need to achieve to be profitable. Bell won't even tell shareholders tonnage or revenue each month now which is shocking.

Why the larger shareholders still keep the RGM share price destroyer in his job i will never never know. Totally bizarre.

Some of my content in yesterdays 10.47am post was incorrect, so forget that.

Yesterdays RNS says: " Up to £1,100,000 of Notes may be issued, in one or more tranches".

So with tranche 1 having £676,000 convertible loan notes i guess tranche 2 will be around £424,000, to take it up to the maximum £1,100,000 in notes.

Yesterdays RNS says about the reworked $1.6 million June 2018 loan (from YA + Riverfort):

(1): "US$580,000 repayment will be made following execution of the Deed, of which $500,000 will then be subscribed by the Lenders for 395 of the Tranche 1 Notes at a cost of £395,000"

(2) "A US$160,000 repayment will be made from the proceeds of any third party financing including the issue of any further tranche of the Notes"

So if the full £1.1 million loan notes are issued and let's say YA or Riverfort only took the above £395,000 in loan notes. I have RGM (out of that £1.1 million) would have around £520,000 remaining. Do others have that amount drastically different?

had insisted to PI's that huge loans taken out would be converted at a premium. In April 2017 RGM took out a massive YA loan https://twitter.com/Regency_Mines/status/849633794953023489 and RGM twitter tweeted: "Regency issues instrument with 1.155p conversion price, no warrants"

That was untrue and they paid off most of that loan at 0.55p.

When the 6th June $1.6 million loan was announced the chairman on the same day tweeted: "Here there is no conversion possible for 6m and even after that only at healthy premium......"

https://twitter.com/AndrewBRRR/status/1004329336080609280

Again untrue.

The original $1.6 million loan http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RGM&ArticleCode=uckq983q&ArticleHeadline=JV_with_Legacy_Hill_Resources_and_Loan_Agreement announced 6th June said

(1) loan $1.6 million
(2) 10% interest over 6 months = so additional $160,000
(3) loan implementation fee of $96,000
(4) loan could be extended after 6 months for a 5% extension fee = additional $80,000

So after 6 months it's not unreasonable to think that the $1.6 million loan had risen to around $1.936,000.
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Todays RNS says the above restructured loan involves a massive $156,000 restructuring fee. So add that to the above $1,936,000 outstanding RGM loan.

Todays rns says: "US$160,000 repayment will be made from the proceeds of any third party financing including the issue of any further tranche of the Notes"

So when other tranches are announced, $160,000 of those tranches that don't involve YA or Riverfort will be repaid to YA and Riverfort. Look above and that $160,000 is just the 10% interest that accrued on the $1.6 million loan over the first 6 months of the loan.

Todays rns also says: "The Extension Fee (so $80,000) and $20,000 of a restructuring fee of US$156,000 ("Restructuring Fee") becomes immediately payable in respect of which the lenders have subscribed for 22,571,428 new Shares in Regency at a price of 0.35 pence per Share;"

So like the $160,000 repayment to YA and Riverfort is just paying off the previous 6 months interest on RGMs loan,this additional $100,000 repayment will only be paying off the $80,000 extension fee and $20,000 of the $156,000 restructuring fee. So in reality zero inroads into paying off the original massive loan of $1.6 million.

We don't yet know how many CLN tranches YA and Riverfort have taken but it's highly unlikely they will be converting because i doubt the RGM share price will get anywhere near 0.42p, so that means a whacking 12.5% annual interest will be gaining on these convertible loan notes.

So although the likes of Okenia loved todays announcement, it didn't look good to me.

Booboo i guess we could call that huge 6th June loan a delayed dilutionary event. It's going to be absolutely brutal on the poor RGM shareholders when those death spiral shares start to flood the market.

The Joint venture of Legacy hill resources & Regency mines took over coal operations of this USA coal asset on 2nd August 2018, so 5 months 9 days ago. They skipped telling us the August coal figures but then eventually told us below expectation September and October coal figures. Total silence since.

On the Legacy hill website 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"

My hunch is that both Legacy hill, RGM totally underestimated the ability of the previous owners. So they probably took ownership of a coal company making marginal profits, then they both wrongly thought they could be more efficient than the previous owners and therefore improve coal production and drastically improve profits. The reality is they have been doing far inferior than what the previous owners were doing. So you do wonder if they are making big losses but into the 6th month Regency mines management still won't tell shareholders if it's making losses or profits. Though like Cgull pointed out, silence is informative, Andrew Bell loves to brag, he's now silent on coal profits, so that is a great indicator.

Booboo, this RGM now £1.5 million death spiral debt could easily add another billion shares to Regency mines shares in issue. For example if all the present £1.5 million debt was converted into 0.20p RGM shares then that would mean an additional 750 million shares. Of course death spirals usually drag share prices down and so a billion or more shares could easily be needed to pay off RGMs huge debt. Plus they will need to raise big money for other purposes and so that would mean even more shares in issue.

At present this RGM share price may look healthily over 0.10p but if these unsatisfactory coal updates continue then i don't think it would be too long before this share price would be hovering above or below 0.10p.

So if this company survives the year then i wouldn't rule out another share consolidation.

" I never own more than 0.25% of any company I invest in thats my own prudent AIM rule .ATM with the share price where it is that rule limits me to only 2 million shares / £6k"
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I hope that was only a part of your point booboo and you haven't got 2 million RGM shares because if any underwhelming coal news is announced then i suspect this share price would quickly fall to around 0.10p.

As much as some try to make some of RGMs other asset or investments seem important, to me it all rides on the coal. If we include the horrendous Moscicki coal investments, these past two years RGM have sunk almost £4 million into various coal projects. So if this latest coal joint venture underwhelms then to me that would be absolutely disastrous.