Member Info for zumore

"BTW tomo marks exactly 7 months since the now £1.5M was taken out,with only one source of income left available to RM the question here has to be when is the confetti moment going to start?

Its exciting to think this could be Andews last few days in charge of RM before being asked by its shareholders to clear his desk."
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I've read Okenia think because this chairman and YA are dear friends then this £1.5 million loan that YA loan lent to RGM could be kicked down the road and repaid at a later date. I suppose that could be true but i suspect because this chairman will be seeking re-election at the forthcoming 25th January AGM then it would be more sensible for him to load up his dear friends with a whole heap of new RGM shares, then his dear friends could help re-elect him.

For the elephant oil investment RRR had to do a placing. So Ben Turney also did an interview with Andrew Bell. He asked questions like why such a discounted placing and why had Andrew personally taken part in that discounted placing.

Part of Andrew's reply in that interview was: " In terms of the price of the placement and our participation in it, we chose to participate with personal funds. As directors, we achieved the highest price for the placement that we could. As individuals we paid the same that other placement participants did. Is anyone suggesting that we should have paid more than the market is prepared to pay?"

In same interview RRR shareholders also thought Andrew say that his RRR wage was down to £26.250 a year. But it wasn't it was just a trick of words.

It's a good fun interview to read. It's on the same site so i can't give a link. So google "Ben Turney Andrew Bell interview".

Obviously the link below isn't allowed on this site. So google:

matt lofgran ben turney interview

And then look for it on the sharepr*ph*ts website.

Joe, Matt Logran. who is also the lowly rated CEO of NTOG.

Here's a Ben Turney interview with Lofgran in 2015 about Elephant oil. https://www.*************.com/views/14327/exclusive-interview-with-matt-lofgran-and-his-foray-in-benin-with-elephant-oil

After the RRR investment i don't believe RRR shareholders ever received an Elephant oil update.

Last post should be "deaf ears" and not "death ears".

I do not remember the Elephant oil deal fondly because it was a particularly savage period for RRR shareholders.

Here's an example of the collapsing RRR price during that period:

(1) During the summer/ autumn of 2013 the Greenland sale ramp was in full swing and the RRR share price went up to around 1.30p.

(2) By April 2014 the Greenland asset sale dream was over and the RRR share price had collapsed to around 0.30p.

(3) In May 2014 the possible sale of the RRR Columbian gold asset was announced. It sticks in my mind the RRR share price was around 0.27p.

(4) Around May 2015 the Columbian sale happened but the RRR share price was now down to 0.07p

(5) Around July 2015 the Elephant oil investment completed and Elephant oil got a shed load of RRR shares. The value of each RRR share was a touch under 0.05p

(6) The Elephant oil owners pulverised the RRR share price by seemingly offloading their RRR shares in double quick time because a couple of months later the RRR share price was now down to 0.02p.

(7) Then in December 2015 RRR did a 25-1 share consolidation and so the just under 0.02p share price went up to around 0.45p.
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We were told that period was the "bear market" but look at the Jan 2014 share incentive plan RRR Rns and you see that RRR had an excessive workforce of 18. Then look at the April 2015 share incentive plan RNS and you can work out they still had a workforce of 14. So poor RRR shareholders got diluted into the ground to help pay for the vast RRR workforce. The then huge RRR shareholder Dan Sklan said that he had urged RRR to lower the excessive RRR workforce and to tighten the purse strings but it all fell on death ears.

During late 2015 RRR belatedly lowered the RRR workforce but way too late for most RRR shareholders because the RRR extravagance had decimated the RRR shareprice to a miserable 0.02p.

So all pretty sad and not a fond period to look back on.

Last post should say: "I recall in the Andrew Scott 7th August 2018 interview"
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A pity lse don't have an edit function so we can correct mistakes in our posts. If they did i'm sure i would now have well under 3000 posts.

since the start date of coal operations in this RGM / Legacy hill joint venture.

I recall in the Andrew Scott 7th August 2018 with the RGM chairman the chairman promised a coal profit forecast within weeks: almost 5 months have passed and still no promised profit forecast and unfortunately the RGM share price has over halved during that period.

So being patient and forgiving broken promises has definitely not been rewarding for Regency mines shareholders.

"No explanation by RGM where all that money went".
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Onto the present coal deal. Still no revenue and ton figures for the month of November. These coal updates are getting later and later.

"Why isn't it possible to try and legally get some of our money back from this venture through the court?"
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I would imagine not doing it for self preservation purposes; because if RGM were to go to court and say "Moscicki conned us by giving us untruthful information that persuaded us to invest with him". Then no doubt RGM shareholders could then accuse RGM management of doing exactly the same thing. So for RGM management self preservation probably best to sweep it under the carpet and not to go into too much detail about it.

For PIs who weren't taking notice of RGM at the time, you should look back at RGM rnses from November 2016 to mid 2017, also for the same period look back at RGM interviews + RGM presentations + Regency mines tweets. I'm sure you will be flabbergasted. Apart from fundraises virtually nothing else that was said came true.

Although the supposed "shareholder friends" of Tom Winnifrith or Ben Turney never uttered a word over the RGM deals with Stephen Moscicki it was definitely my AIM scandal of 2017. RGM invested almost £2 million with Wetherby coal baron Stephen Moscicki, then it was quickly written off, then never explanation by RGM where all that money went.

It still blows my mind after all this time. It was shocking.

Why would he do that? You can only conclude that they are secret lovers.

Bambos seems to make up anything he wants. Though it's not helping because slowly but surely this share price is getting lower and lower. I'm sure it'll eventually be in the price range when everybody has given up hope of ever recouping their money back. I guess that's what happens when the big holders are loyal to a chairman with meagre ability.

Really depressing this company. So i won't log back in until next year.

Yes booboo i've got no great hope about this present coal JV. I'm sure some think i'm suppressing my inner excitement about it but i'm certainly not.

Below poster Briarbank can confirm that when in the past he contacted Bell privately that he was often given inaccurate information, so i'm certainly not surprised that these latest lot who've contacted Bell have too been misled with Bell's inaccurate info.

Paul Johnson asks on his twitter:

"Out of interest which resource company management teams do you think are doing a good job at the moment?"

RGM chairman Andrew Bell quickly replies:

"Us"

https://twitter.com/AndrewBRRR/status/1061254607240945664
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I'll correct this from my last post. I said "Bell + Kaintz need removing. It's clear to most PIs they are both useless"

Let me add more to the useless part. Yes in my opinion yes they are both useless but slightly altering Anne Widdecombe's famous saying "there is something of the night about both of them"

Booboo if it wasn't for that 20-1 share consolidation RGM would now have near 16 billion shares in issue, so Andrew's Bell's relentless dilution over the years has absolutely decimated most RGM shareholders.

Like you Booboo nothing particularly surprised me in this annual report. Though i guess it was good at last to see how much RGM money Bell and Kaintz made disappear in the RGM/ Stephen Moscicki coal scandal. The March half yearly report said RGM suffered an impairment loss of £821,566 in Moscicki's Vali carbon corporation. This annual report went further and said RGM suffered a total impairment loss of £1,943,132 in Stephen Moscicki's Vali carbon corporation + Carbon minerals corporation. So we can work out that Regency mines squandered an approximate £1,121,000 in Carbon minerals corporation, which was basically the Rosa coal mine. I know back in the day many rampers were insisting that RGM only gave Moscicki £250,000 for Rosa but this annual report says it was more like £1.1 million.

I'm convinced most AIM bosses wouldn't have handed Stephen Moscicki a penny. So it blows my mind that Bell + Kaintz handed him near £2 million, numerous lies in those early 2017 RNSes + tweets, they've kept incredibly quiet where all that money disappeared, amazingly both Andrew Bell and Kaintz kept their jobs. I'm still amazed they didn't end up in prison because PIs were investing in RGM based on lies littered throughout many RNSes. I'm sure many PIs lost fortunes based on those untruthful RNSes + untruthful early 2017 RGM tweets.

To be honest i'm constantly amazed the larger shareholder do not remove the toxic Bell and Kaintz. Even the other night Bell thought he was being sneaky by slipping out the annual report after trading hours, but it backfired on him because most PIs zoned in on the awfulness of that after hours annual report.

Bell + Kaintz need removing. It's clear to most PIs they are both useless.

Booboo, i'm pretty sure in an August interview Bell said that the highwallers were beginning in new locations, so that they quickly moved onto new locations doesn't give confidence. I wouldn't be surprised if the previous owners sold up because they knew that the coal was running out.

They also gave no figures for August even though they began coal operations from 2nd August, so we can assume those August figures were very low. September , October coal figures were also underwhelming. So like you i have little hope November or December's figures will be great either.

This JV have been running this coal operation for almost 5 months and we know that an hell of a lot of money can be lost in 5 months. So that they won't tell us the profit or loss figures doesn't instill confidence.

Not near a computer for the next few hours. But may log in again later.

Hi booboo, yes Bell is a braggart and you know, i know, everybody knows that if the coal operation was making profits then he would be bragging about it. That he isn't should tell everybody that it's highly likely that he's sitting on bad news.

You would hope that the big shareholders removed Bell but it's looks absolutely hopeless here. RGM have huge £1.5 million death spiral debts that need repaying + RGM also need to raise huge money for more useless investments + more undeserved wages. So it looks ugly here and i'd be amazed if this share price doesn't within months collapse under 0.10p.

I know a pretty dreary outlook but it looks bleak here.

i first began investing on AIM just over 5 years ago.

I always thought in life that there was consequence for the incompetence of management. They would either fall on their sword and resign in disgrace or get sacked. How naive was i?

They just go on and on, they don't care about numerous **** ups, they seek re-election after re-election. They have zero shame.

For near 14 years Andrew Bell has been industrial scale leeching off shareholders. Yes we understand when a company first lists it will raise funds to build up the company. But after 14 long years Regency mines is still at the bottom and Andrew Bell has built nothing here. In my opinion 14 years is more than enough time to tell investors whether somebody is a good capable boss. With Andrew Bell in charge the RGM share price has been decimated, he's still continually making excuses and he's still leeching off shareholders on an industrial scale.

Constantly baffled why the big shareholders still persist with him.

the Regency mines AGM will be held at 9am Friday 25th January. Resolution 2 at the AGM will be:

" To re-elect Andrew Bell as a Director of the Company, who retires by rotation under the Articles of Association of the Company and, being eligible, offers himself for re-election."