Member Info for zumore

The reason i asked yesterday about the date of the next Regency AGM is because i'm sure i've previously read that a company have to give either 14 or 21 days notice of when their next AGM is + it needs to held within 6 months of the company's year end, so in RGMs case 31st December. So that's why i asked whether a dates been given yet.

Still no final results rns yet. You only assume it's going to be bad. Likewise after nearly 4.5 months operating this coal jv and still no rns to say whether they are making any profits. You can only assume it's going to be bad.

for the next Regency mines AGM?

Bell's latest twitter is tame compared to his former armcmb twitter account that got suspended. I remember being exasperated by some of his tweets and thinking "omg that tweets limited his appeal further".

From his previous twitter i recall one poster asking on lse if he misunderstood what Andrew had just tweeted about gay people. The poster was told that he or she had not misunderstood.
I recall when Max Clifford was on trial a few years ago an annoyed Bell tweeted something like "oh why is this even being heard in court. This shouldn't be for the court this should be for his memoirs". Clifford received a long term prison sentence a few days later.
He annoyed others when he said that the larger air stewardesses should be on less pay than the lighter one's.
I also remember him get a flood of abuse when that migrant child got washed up on the beach a few years ago because Bell was doing unsympathetic tweets.
I also recall Bell annoying some when he tweeted that Gandhi's (then) newly erected London statue should be smashed down.
He was relentless on his previous now shut down armcmb twitter account. He was like a shock jock who showed no restraint and i'm sure some would have been astonished that this offensive tweeter was actually the chairman of two AIM listed companies.

"On a completely...unrelated topic....

Can anyone think of a quicker write down of assets on aim other than the highly questionable and dubious Andrew bell and Moscicki collaboration?

That was something special to witness."
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Yes Joe it was absolutely mind blowing how quickly Andrew Bell/ Scott Kaintz p***ed the money away.

Here's the extract from the RGM half yearly report (buried near the bottom) stating how much they had squandered on Moscicki's little mentioned Vali carbon corporation

"As a result of the Group's evaluation of its non-financial assets, an impairment loss of £821,566 on investments in associates and joint ventures was recognised in the income statement (2016: £nil). This relates to the Company's investments in Vali Carbon Corporation"
........
Hopefully in the forthcoming RGM annual report we'll find out how much RGM eventually lost on the Rosa coal mine debacle.

To show the utter incompetence of both Andrew Bell and Scott kaintz over their disastrous Stephen Moscicki coal investments. Dumb and dumber took out high interest company loans and probably handed Stephen Moscicki a couple of million. then when the money had long gone what did the thick squad do? They belatedly sought the advice of Legacy hill to do some due diligence on the Moscicki assets. Talk about doing things back to front. DUHHH! THAT WAS TOO LATE TICKOS!

It wouldn't surprise me if Stephen bought most of his recent RGM shares from a fellow big shareholder who wanted to sell. Reasoning for this is his previous holding RNS was 9.66% but this holding RNS is 12.04%, so with no holding RNSes inbetween (no 10% + 11% announcement) i guess a good chance he bought a big amount from a fellow big RGM shareholder.

I recall over at RRR Peter Gyllenhammar did the same by buying all of Metal tigers Red Rock shares.

From a different perspective i'm suspecting Andrew absolutely loathes that the big shareholders are still around. I'm suspecting ideally he'd prefer all tiny shareholders so there is never any risk of his position being challanged.

i've seen it many times over the years people desperately chasing their losses. You just have to sit back, shake your head and think they've got more money than sense.

By the way was that event you attended the other day being filmed?

Also i believe Kaintz presented. Did you ask him why after 4 months they still aren't telling PIs if the coal operation is profitable?

Booboo, i think Bell said that 100,000 tons a month would be impossible because the two highwallers would need to be operating nearly all the time. And he also said in some interview that these two HW300 highwallers are no longer being made by caterpillar, so they have to be careful how often they use them.

You would imagine part of the 70 team workforce are some mechanics who are busily working on the highwallers between shifts.

Harry, you posted 18 times on this thread yesterday. I'm sure you also had a few of your other posts removed when you was busy getting other peoples posts removed. So to me all those posts indicates to me you are becoming a bit desperate.

Have you committed yourself to an RGM placing and you don't like the downward direction this share price is heading?

Hi Booboo, from the 7th August proactiveinvestors interview Andrew Bell told the interviewer that at absolute maximum capacity, which would be 2 shifts a day, each highwaller would be capable of a maximum of 50,000 tons of coal a month, so that would be 100,000 tons for the two highwallers ; he then went on to say that at the time of the interview one of the highwallers would be doing 6 shifts in a week and the other highwaller would be doing 11 shifts in a week. So with 11 shifts we can conclude they can do two daily shifts.

To point out in the same interview Andrew Bell told interviewer that they would be releasing a coal profit forecast in "weeks". Obviously he lied in that interview because over 4 months have passed and still no profit forecast . So although i repeat what he says in the above first paragraph i am quite aware he often lies. So he might not be telling the truth.

(1) "The contribution of Regency to the JV has been funded in part by a US$1,600,000 loan provided by Cuart Investments PCC Ltd and YA II PN, Ltd and arranged by Riverfort Global Capital Limited (the "Note")."

NOTE: Death spiral companies know that an Andrew Bell company is very profitable for them. So they all want a piece of the action.

(2) "Regency has agreed to borrow gross proceeds of $1,600,000 (net $1,520,000) from institutional investors in order to fund a portion of its obligations under the JV"

(3) "The loan will carry a 10% interest rate and be for an initial term of six months"

(4) "is subject to an implementation fee of $96,000"

(5) "A further six-month extension available for a 5% fee"

(6) "If extended, the loan may be converted by the noteholder at a fixed price equal to 130% of the 10 day VWAP prior to the initial repayment date/date of the available six month extension period (the "Fixed Price")"

(7) "If the loan is extended past six months a payment schedule will be applicable and the payments may be paid in either cash or shares at the discretion of the Company"

(8) "If paid in shares, the payment amount will be convertible at the lower of (i) the Fixed Price, or (ii) a price equal to 90 per cent of the lowest daily VWAP over the five trading days immediately preceding the date of the relevant payment date"

(9) "The Company has the right to prepay the loan at any time in full for a 3% redemption fee, provided that after the First Repayment Date the Company may only prepay the loan if the stock price is trading below the Fixed Price at the time of prepayment."
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So from the above the loan additions seem to be;

initial $1.600,000 million loan
+ $160,000 10% six month interest rate
+ $96,000 implementation fee
+ $80,000 for 5% fee for six month loan extension.

All the above totted up indicates to me that RGM now owe on this loan around $1,936,0000.

So just my opinion but it could be a brutal brutal period for RGM shareholders. And if Bell is lying about the coal profits, then even more so.

I don't know what your problem is?

All i was pointing out was that the name on the email of your Bambos post from 2013 and the twitter guy who sometime interviews RGM chairman Andrew Bell are identical.

So why are you getting your knickers in a twist over that?

"A successful project in vanadium could provide Regency with three main pillars of value within the Company. The vanadium project would provide a high potential impact exploration opportunity. At our 50% owned Mambare project we have a significant JORC compliant nickel/cobalt deposit. And we have a revenue generating coal production asset through our 47% interest in Mining Equity Trust LLC.

Regency Mines is entering into an exciting phase. We look forward to providing further updates in respect of the vanadium project and across all our business operations"
.........

I don't know whether others agree but RGM seem to be putting less and less emphasis on it's star coal asset. In the above extract it's stuck at the bottom of the list and it's called "revenue generating"; i'm sure most would've hoped to see it called "profit generating". In the last paragraph when they talk about further updates no special emphasis on the coal it's just included with "business operations".

This RGM/Legacy hill joint venture is now well into it's fifth month of operating this coal asset but still no figures whether it's making any profits. That is worrying. Yesterdays rns was also worrying because why would a company need to announce a possible new non coal asset if the company's multi million dollar purchased coal operation were truly raking in the profits? To me you just wouldn't bother because if this coal operation was actually raking in the profits you would lessen the company's assets and focus PIs mind on that you are a coal focused company.

^^ That would've been clever company strategy. On the other hand adding more assets and confusing PIs and taking focus off your main asset is not clever. But i guess if that was your intention then i guess it was clever.

"Regency has secured 45-day Option to acquire a 50% interest in a North American vanadium exploration project;
The Option fee of £25,000 is payable through the issue of 5 million Regency new ordinary shares at a price of 0.50 pence per share, a 42.9% premium to the mid-market share price at the time the transaction was agreed

Application is being made to AIM for 5,000,000 new ordinary shares issued and allotted in relation to the Option fee, which will rank pari passu with all existing ordinary shares (the "Option Shares"), to be admitted to trading on AIM ("Admission"). Admission is expected on or around 12 December 2018"
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I would say unofficially the agreed option fee was only around £15,000. Then you announce the option fee is £25,000 at a premium price of 0.50p. Then the people who receive the 5,000,000 RGM shares simply offload them at anything above 0.30p and then they will get their agreed £15,000 option fee.

So those who bought into RGM yesterday because they were impressed by that premium price. I suggest it was a company trick and nothing really impressive about it.

a couple of years ago pumping Motzfeldt like crazy. The pump angle was Motzfeldt had according to him and chums a $100 billion + in-situ value and it could multibag the company numerous times. Share talk even allowed Paul Johnson to do a pump article on it: https://www.share-talk.com/regency-mines-plc-a-tale-of-the-unexpected/

Here's an extract from Paul's pump article:

"Motzfeldt is a Niobium-Tantalum and Rare Earth Element (REE) project in Southern Greenland and is 100% owned by Regency. The project has a JORC compliant Inferred Resource of Niobium, Tantalum, Zirconium and REEs and if you applied an in-situ valuation to the minerals already captured by the Inferred Resource you would have a value skirting with US$100bn.

On the upside this resource comes from only part of the licence ground. On the downside in-situ valuations are an amusing benchmark but not much else as you have to consider the costs of taking a resource through the development stages and the costs of physically mining the products. However playing along with the theme considering the current shares in issue (318m) and taking just 1/1000th or 0.1% of the resource in-situ value (circa US$100m) and using the current US$1.28/£ conversion rate, means a figure of 24.6p per share or some 58x the current share price."
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Extract from todays RGM rns:

" Motzfeldt Project. The Company acquired this project in 2014 and changing market conditions and Company priorities have meant that it has done limited work since. The book cost of the asset being relinquished is £40,403"
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At the time i don't recall RGM chairman Andrew Bell warning PIs to be careful over the Paul Johnson Motzfeldt ramp article. No doubt many bought into RGM because of PJs pump article but then just a few months later Johnson's company were given a chance to buy Motzfeldt for £350,000. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RGM&ArticleCode=usod3du6&ArticleHeadline=Grant_of_Option_over_Motzfeldt__Issue_of_Equity He quickly turn it down. And with that he killed his Motzfeldt pump forever.

Hi Greets, let's not bring a downer on today by talking about Andrew this early.

It always sticks with me when you said you've had many health issues. I hope health wise you've been doing ok this past year?

Booboo: "Zumore, i would be amazed if we really were losing as much as $600k losses a month but its going to be interesting to see how many shares the BOD are going to ask shareholders permission to issue next year given the apparent pickle they now find themselves in .
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On my downbeat $600k losses a month prediction, yes on reflection you are probably correct booboo. After all Bell did say "profit forecast" about the coal and also early in November when PJ asked which management teams were doing good at present, Bell piped up and said "us". https://twitter.com/AndrewBRRR/status/1061254607240945664. So Bell is either correct about the coal profits or alternatively a lying delusional madman.

And onto your other question, i'm suspecting they'll be seeking permission to issue an hell of a lot. Even former pumpers of RGM Align research were saying that the 6th June $1.6 million loan looked terrible. Align tweeted:

"RNS noted from Regency Mines #RGM this morning. $1.6m looks ominously like death spiral financing to us sadly. These things never end well." https://twitter.com/AlignResearch/status/1004247030015954944

I think with all the fees, interest, the loan will be over £1.5 million when it hits the 6 month mark this Thursday. So those converted at around 0.30p would i think be around 500 million additional shares. The 6th June rns says

"If the loan is extended past six months a payment schedule will be applicable"

So i guess that could mean each month new shares could be issued to repay back this huge loan. So that would be classic death spiral with the drip drip effect each month slowly but surely decimating this share price. So to me it doesn't look great here.

"This is seriously concerning me,please can you provide a breakdown ,thanks"
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No real breakdowns booboo, it's just a pure guess by me.

Though RGM did give a 10 month revenue forecast in the 4th September rns. It said:

"For the ten month period to June 2019 MET expects to sell 692,196 tons of coal for total revenues of $30,468,239"

So back then they were hoping to have average monthly coal revenues of $3,046,000 each month. So it's fair to assume if they've could've reached that average monthly revenue target then they could made decent profits. But the reality is they are only averaging around $2 million revenue each month; August revenue wasn't actually given so we can assume that was far worse than $2 million revenue.

So based purely because they are presently bringing in over $1 million less monthly revenue than anticipated, then based purely on that then i think they are presently making big monthly losses.

"Where is that Harry boy?"

He's been attempting to get a reaction out of PJ but Paul won't respond: https://twitter.com/SHARES_FTSE_AIM/status/1067771052363788289

And this: https://twitter.com/SHARES_FTSE_AIM/status/1068506556432560128

I think you are right that Paul is no longer interested in RGM. It says he still owns 6+% but he hasn't mentioned them in months. So it looks like he's gone.

Have another go at contacting him tomorrow Harry.