Member Info for zumore

"Regency owns liquid assets that it can sell to fund operations, the most significant being its 8.9% stake in Curzon Energy Plc, listed on the Standard List of the London Stock Exchange. The value of this holding in Q4 2018 was approximately £120k"
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"Year to 30th June 2018: IMPAIRMENT OF INVESTMENT IN JOINT VENTURES = £1,943,132"

"Impairment of investments in joint ventures: The carrying amount of investments in joint ventures is tested for impairment annually; in addition, assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amounts for those assets may not be recoverable. During the year, investments into two joint ventures, Vali Carbon Corporation and Carbon Minerals Corporation (Carbon minerals would be Rosa coal mine), were fully impaired"
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So the incompetent duo of Scott Kaintz and Andrew Bell made almost £2 million disappear with coal baron Stephen Moscicki. I say disappear because never any satisfactory explanation where that money went.

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Much much shockingness in todays RNS. Here's an impartial viewpoint on todays RGM rns by the lse newsfeed: http://www.lse.co.uk/AllNews.asp?code=p5292psp&headline=Regency_Mines_Annual_Loss_Triples_On_Joint_Venture_Impairments

If regency mines don't release their annual report at the latest by the end of Monday then they'll get suspended when trading resumes on Wednesday.

Regency mines year end is June 30th. After it's year end a company gets six months to release it's annual report or else the company will get suspended.

If the annual report is released on time then i don't expect it to be a pretty read. Of course if it isn't released on time then what shareholder wants to fester in a suspended share? Once suspended, companies often release horror RNSes.

Of course the larger shareholders are pretty stranded here. But for the smaller shareholder selling up here is a pretty strong option because the prospect of sitting in a suspended share is a pretty horrible prospect.

By the way Okenia. Happy Christmas!

And Okenia, you could say to me "You are wide off the mark because AB often seems very optimistic on his twitter or in interviews"

Well i more times than not dismiss his positivity because i liken him to a captain of a sinking ship who tells the passengers everything will be ok but at the same time he is getting into the first lifeboat.

"On a wider picture, it clearly hints that a wider restructuring of the debt relationship with YA is taking place. That's be a lovely Xmas present I'm sure you'd agree."
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I'll tell you something okenia, you and i seem to be on a completely different page as far as the brightness of RGMs future because i think the outlook is dim, even terminal.

The previous owners of this coal asset had $34 million revenue in 2017. Let's be rampy and suppose they made 20% profits on this, so that would be $6.8 million profits a year or anything over $27.2 million revenue in a year would be profits.

However the new owners of Legacy hill + RGM are presently on schedule for $24 million revenue in 12 months. So that would mean if they are doing everything the same as the previous owners then they'd make $3.2 million losses in 12 months; though of course LH and RGM have the additional expense of leasing two highwall miners, so let's say those lease costs are $4 million a year, so that would mean $7.2 million losses in a year. Of course i'm only guessing but to me it looks dire.

This coal JV have now been operating this coal asset for near 5 months and i suspect huge debts are racking up but RGM shareholders are being kept in the dark over this.

Let's not forget Regency mines also owe (with interest + costs) around £1.5 million to the death spirals and according to the 6th June RNS this mammoth loan now needs to be paid off on a payment schedule over these next 6 months.

I know this is not the most optimistic Christmas message i can give but it looks absolutely awful here.

Okay thanks Stephen. I was just concerned because with RGM stating (according to website) they presently own 1.94% in RRR shares (so around 10 million RRR shares or approx £55k worth) so of course when 85 million + 81 million Red Rock shares suddenly appeared in Regency mines news releases at Companies house website on 6th December 2018, naturally i thought "are RGM management dipping their hands in Red Rocks till?". Also that date coincides with the six months date since Regency mines announced that massive $1.6 million loan, so it looked weird that they release that news on the same date.
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Onto a different matter Stephen, are you not concerned that the RGM annual report hasn't yet been released? I'm sure most outside observers would say today, Thursday, Friday or half trading day next Monday would all be sneaky quiet Christmas days for a company to release such an important RNS, Though with the alternative being temporary suspension then i'm sure it will just be a great relief to see it released.

Have you contacted the company asking why such lateness?

click on share pledge and you see:

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Persons entitled
Ya Global Master Spv Limited
Amount secured
All monies due or to become due from the company to the chargee on any account whatsoever under the terms of the aforementioned instrument creating or evidencing the charge

Short particulars
85,000,000 ordinary shares of £0.001 each in the capital of red rock resources PLC,all stocks,shares or other securities rights or other property, see image for full details
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And on the other you'll see:

Persons entitled
Ya Global Master Spv Limited
Amount secured
All monies due or to become due from the company to the chargee on any account whatsoever under the terms of the aforementioned instrument creating or evidencing the charge

Short particulars
81,163,341 ordinary shares of £0.001 each in the capital of red rock resources PLC all stocks shares or other securities all dividends see image for full details.
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Remember this Andrew Bell's other company REGENCY MINES who have done this.

https://beta.companieshouse.gov.uk/company/05227458/charges

What the hell has Andrew Bell done above? Look at Regency mines on COMPANIES HOUSE website

On companies house website three "satisfaction of charge" were filed on 6th December. (NOTE: RGMs £1.6 million six month loan also ended on that date)

When you click on the link CHARGES on the Companies house website (link above) you'll see three separate SHARE PLEDGE that were satisfied all on 6th December.

SHARE PLEDGE 1: Person entitled YA GLOBAL......Short particulars 100 shares in ORO Nickel (MAMBARE?)

SHARE PLEDGE 2: Person entitled YA GLOBAL .... Short particulars 85 million shares in Red Rock Resources

SHARE PLEDGE 3: Person entitled YA GLOBAL ...... Short particulars approx 81 million shares in Red Rock Resources.

Like i say someone please enlighten me. What has Andrew Bell done? Remember he's doing this in the role of Regency mines chairman. Has he given YA Global tons of Red Rock shares to short Red Rock? Or maybe he's given YA global Red Rock shares for a debt Regency mines owe?

Looks a bit dodgy to me. What's Bell done? Who gave him permission to do this?

https://beta.companieshouse.gov.uk/company/05227458/charges

What the hell has Andrew Bell done above? Look at Regency mines on COMPANIES HOUSE website

On companies house website three "satisfaction of charge" were filed on 6th December. (NOTE: RGMs £1.6 million six month loan also ended on that date)

When you click on the link CHARGES on the Companies house website (link above) you'll see three separate SHARE PLEDGE that were satisfied all on 6th December.

SHARE PLEDGE 1: Person entitled YA GLOBAL......Short particulars 100 shares in ORO Nickel (MAMBARE?)

SHARE PLEDGE 2: Person entitled YA GLOBAL .... Short particulars 85 million shares in Red Rock Resources

SHARE PLEDGE 3: Person entitled YA GLOBAL ...... Short particulars approx 81 million shares in Red Rock Resources.

Like i say someone please enlighten me. What has Andrew Bell done? Remember he's doing this in the role of Regency mines chairman. Has he given YA Global tons of Red Rock shares to short Red Rock? Or maybe he's given YA global Red Rock shares for a debt Regency mines owe?

Looks a bit dodgy to me. What's Bell done? Who gave him permission to do this?

https://beta.companieshouse.gov.uk/company/05227458/charges

What the hell has Andrew Bell done above? Look at Regency mines on COMPANIES HOUSE website

On companies house website three "satisfaction of charge" were filed on 6th December. (NOTE: RGMs £1.6 million six month loan also ended on that date)

When you click on the link CHARGES on the Companies house website (link above) you'll see three separate SHARE PLEDGE that were satisfied all on 6th December.

SHARE PLEDGE 1: Person entitled YA GLOBAL......Short particulars 100 shares in ORO Nickel (MAMBARE?)

SHARE PLEDGE 2: Person entitled YA GLOBAL .... Short particulars 85 million shares in Red Rock Resources

SHARE PLEDGE 3: Person entitled YA GLOBAL ...... Short particulars approx 81 million shares in Red Rock Resources.

Like i say someone please enlighten me. What has Andrew Bell done?

Sorry for the confusion booboo. I should be clearer and maybe use smileys because i was including your post but mainly responding to Bambos silly posts earlier in the week when he was saying paid city derampers are the one's posting on this thread. Here is an extract from one of Bambos silly posts earlier in the week.

"Note some of these paid de-rampers wont be posting over XMAS as they will have their time off from their city offices!"

Booboo, i doubt Harry Bambos meant me but yes it's very unlikely i will be posting over the Christmas period. Yes i will have a look on Monday to see if the annual report RNS is posted but if not i won't post or look at lse. #toostressfulthinkingaboutthemessRGMarein

"Mind you the last time I said that he got himself reincarnated and it was his disciples that got crucified instead."
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Yesterday for the first time in months, PJ came alive and tweeted numerous times on RGM. Though some say he will tweet endlessly when he's trying to offload some. So on reflection i think he's still got RGM shares and he's getting a bit desperate.

"Its funny sitting here as a RM observer for what must be nearly 10 years ,I think we could be very close to witnessing his last supper."
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Booboo i know many would say "no way!" but i'm actually in agreement with you. I think things look absolutely dreadful here. RGM have a £2.6 million market cap and they owe (with interest + fees) around £1.5 million (or $1.9 million) to the death spirals. It's also highly likely this coal JV is racking up debts. Plus RGM need money for all future administrative expenses. Plus other projects will require money.

Nobody can tell me that above ^^^ doesn't look dreadful.

One of the most worrying things i saw on Regency mines twitter this past 10 days or so is that somebody (either Andrew or Scott) was doing tweets promoting RGMs investment in the dreadful Curzon energy. Bear in mind in the RGM offices Curzon CEO Scott Kaintz will be sat next to Andrew Bell and Scott would've known that the Curzon Coos bay project was imminently being scrapped. So that somebody on Regency mines twitter was trying to lure investors in by promoting the terminal Coos bay project to me is VERY underhand. But sadly over the years we've seen numerous positive tweets or RNSes that turned out to be misleading, so they have a stinking reputation of trying to sucker in the investors.
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I notice NUOG investors are in the same boat as RGM. Like RGM the NUOG financial year ends each year on 30th June and like Regency NUOG need to release their annual report by 31st December.

Looking at NUOG hashtag some PIs are worried over the lateness. Twitter's Gary Newman who often writes for sh*reprop*ets did this tweet on NUOG: https://twitter.com/GaryNTrader/status/1076038391257616384

I sense many don't seem worried by RGMs late annual report but we only have two half trading days on Christmas eve/ new years eve, then we have full trading days next Thursday and friday. If RGM don't release an annual report on those days then they face a temporary suspension. So very little time remaining.

"In my nearly ten years as a RM observer I have seen many a 5 - 10 % holding shareholder walk away from here empty handed .

For example I can remember when Luke held 3% the first time around.

Most walk away from here at least a little wiser , but no Luke for some reason?"
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If you look at Luke1s twitter you can see he's a gentleman of advancing years, he was a big fan of Terry Wogan but he also loves rock music. So i think his Regency mines investment is because in his way he's living the reckless rock and roll lifestyle: of course no throwing TVs out of the window but instead recklessly p£ssing away over £100,000 on RGM over the years and not giving a flying f**k.

That should read "when they are stably working from permanent locations"

Booboo, sorry I didn't get back to you last night because yesterday I just logged in for one post then logged out.

On Bell's tweet yesterday yes we did read what he said completely differently.

https://mobile.twitter.com/AndrewBRRR/status/1076079603117105157?p=v

In his above tweet his excuse to Matt was that the highwallers have been moving to different locations, so that means they are taken apart, moved to new a location then reassembled, which according to Bell takes around two weeks. So he's telling Matt that both highwallers will have soon found long term locations to work from, which should mean no more time consuming highwallers being taken apart and then reassembled. So I think he's telling Matt that once both highwallers are working from permanent locations then the production figures should improve. So again I think he's telling Matt that the past performance of these highwallers may have been underwhelming and below expectations but that is not necessarily a guide to their future performance. And "we need to give stable state figure" I think in translation that means "we need to give true figures of the highwallers when are stably working from permanent locations"

Of course I may have completely misread his tweet. One thing for sure if he's sitting on bad price sensitive information and this coal operation has been making big losses in it first 4.5 months, then he really needs to reveal this to investors.

Booboo i read that Andrew Bell tweet earlier. How did you read it?

When Bell said "The past, as they say, is not necessarily a guide to the future"

That reads to me that the first few months operating this coal asset have been pretty awful.

Did you read his entire tweet differently?

Lol thanks booboo! I've looked on the RGM website and they mention the date for the previous 2017 AGM but still no date for the next AGM. So quite worrying RGM are very late with their annual report, they are also very late revealing the date of their next agm + after almost 5 months of running this coal asset RGM still won't reveal if it's making losses or profits.

To put the most miserable spin i can on things, i guess it could be possible this coal JV is making huge monthly losses and so RGM could need huge money for that; but because they already owe £1.5 million to the death spirals then maybe just maybe Andrew has run out of avenues to lend money. So it could be over after 14 years. Let's be honest it's not like RGM have any assets of any worth to lend money against.

I know a few like Bambos and Stephen are optimistic on RGM but all this lateness is kind of worrying.