Member Info for zumore

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

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. 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"
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My interpretation of the first paragraph is that yes the lenders could indeed convert the entire loan at an 130% premium (worked out by 10 day VWAP). The way they work out this 130% premium price would be called the "FIXED PRICE" but it seems incredibly unlikely the lenders would convert the entire loan.

The second paragraph is the telling part because if the loan goes past 6 months then a "PAYMENT SCHEDULE" will be arranged and if RGM pay the lenders in shares then the second paragraph says:
"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 DAILY VWAP OVER THE 5 TRADING DAYS IMMEDIATELY PRECEDING THE DATE OF THE RELEVANT PAYMENT DATE".

Remember it says "CONVERTIBLE AT LOWER" not higher. So once a payment schedule is arranged which will be the lower price (A) the 130% premium FIXED, or (B) a 5 day VWAP price leading up to the payment date?

Others may disagree but you've got to think that the lower RGM share price will be the 5 day VWAP price that leads up to the payment date.

A couple of days ago Curzon released a dismal RNS: http://www.lse.co.uk/share-regulatory-news.asp?shareprice=CZN&ArticleCode=jfj6ebid&ArticleHeadline=Issue_of_Equity_and_Total_Voting_Rights

In previous RNSes Curzon had said they were targeting cash generation by Q2 2018. Obviously Q2 has gone but in the recent Curzon rns they quietly slipped in that cash generation had been moved to Q4 2018.

"targeting first gas and cash generation from Phase I in Q4 2018"
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Of course the main part of the Curzon rns was to say that they had just issued new shares to pay off a promissory note debt of £354,049. Yes shares were issued at 8p but it doesn't mean those shares won't be sold cheaper than that. Though to look on the bright side selling any amount of those Curzon shares will at present be pretty difficult because the Curzon stock is pretty illiquid.

To me it looks pretty awful at Curzon energy because no doubt they'll be trying to do a big fund raise soon + around 27th September 2018 the 12 month (agree not to sell) lock in period will end which will mean all the huge shareholders could (if they choose) sell. I believe at the end of 2017 YA held a monstrous 44.72% stake in Curzon. So that is a pretty grim.

I see two of my posts have been removed today. I think one or two of Joebop's have also been removed. So shame on you those who are trigger happy on the reporting button.

I mean does it really make you feel better that a few well researched posts have just been removed?

"Interesting that red rock and rgm have pretty much the same cap today, - £4.5m (according to lse stats here)

At least rrr have Jupiter. He did squander a large percentage of a great asset, but the remainder is giving off some bit of a dividend. Steelmin, when/if it gets to steady, stable production, should be a worthwhile venture down the line, depending on the debt burdens"
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I'm in agreement Joe. People always say i don't praise any Andrew Bell companies but i agree with you that it's absolutely laughable that RGM and RRR have the same mcap. Asset wise RGM have assets of very little worth and this RGM mcap (based on present assets) is way WAY overvalued.

I believe why this RGM mcap is presently so big (compared to it's assets) is because numerous well known shareholders hold an huge amount of RGM shares and they are absolutely stuck here. So even if any bad news arrives they can hardly sell (unless accepting huge losses), so instead they have to talk this company up (mostly through twitter) and then they have to pray that eventually enough mug punters will buy into RGM so they can get out of here.

Lol Slong i did find that amusing. :)

For the younger one's: Andy Bell is in pop group Erasure and they did a song called "a little respect"

Correction from last post: that should've said 3rd May 2017 RNS

I care little if you don't trust me. But if you research through RGMs 2016/17 Stephen Moscicki coal investment RNSes you'll see RGM were telling shareholders that two of the Stephen Moscicki coal mines (that RGM invested in) were about to come into coal production. For example in the 3rd May RGM rns Andrew Bell said:

"The Company is currently at a vital inflection point. With two projects now coming into coal production revenue in the very near term, the validation of our strategies will, we believe, become increasingly clear to investors"
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In numerous RNSes + Andrew Bell interviews + RGM tweets investors were told coal production was about to happen but it never did come true. With little explanation RGM management just quietly swept it all under the carpet and ever since if any PI dares to bring up the RGM Stephen Moscicki coal investments is labelled a deramper who shouldn't be trusted.
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By the way people on this thread will often talk about the RGM Moscicki coal investment scandal but very rare to see any footage of Moscicki. But in January 2017 RGM chairman Andrew Bell did a short 4 minute interview with Stephen Moscicki when they talked about the Rosa coal mine that never happened. Here is the video:

https://www.youtube.com/watch?v=TUd7EX1vrc8

Over the past couple of weeks i've seen a joker on the RGM hashtag who keeps making outlandish rampy RGM claims. Last night the tweeter tweeted: "hearing that MET coal deal is imminent now as in within days. My info would tie in with the rush to buy up all available stock each time the ask drops to 0.55p"

Of course that may happen but beware he hasn't heard any exclusive info. I remember looking at the poster "spurs777" lse pie chart a few days back and it was mostly HVO and RGM. The tweeter (who twitter name begins with HACK) tweets about exactly the same companies.

"He has never answered the real questions. Smoke and mirrors and the use of phrases mired in equivoque. Which means double interpretations"
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Yes Cgull i agree. To me the 2016/17 RGM coal investments with Stephen moscicki stink to high heaven. No satisfactory explanation has ever been given of what happened to all those millions invested with Moscicki.

To be kind to Kaintz and Bell you could say they handed all those millions to Moscicki because they were incompetent gullible mugs who were suckered in and scammed by Moscicki. But that doesn't make sense because many months later in the RGM rns dated 24th November 2017 the rns said:

"In consideration of a refundable advance of £34,800 by Regency, US Carbon Resolutions Corporation has given Regency an option to buy the 80% of Carbon Minerals Corporation ("CMC"), the owner of the Rosa Mine, not already owned by Regency. Regency will now have a period of sixty days in which to carry out a comprehensive due diligence on CMC and the Rosa Mine. Should Regency be satisfied with all aspects of this due diligence, and subject to other conditions, Regency would be able to acquire the Rosa Mine"
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Well that blows out the water the Moscicki scam theory because if somebody had scammed millions out of you a few months previously then you wouldn't be handing them more money just a few months later. Let's be honest that would be beyond idiotic.

So RGM handed Moscicki millions and of course Moscicki didn't deliver on bringing the RGM coal mine investments into coal production. In the 23rd March RGM half year rns RGM announced that they had written off the £821,566 they had invested in Moscicki's company "Vali Carbon corporation".

Why shouldn't RGM shareholders feel peeved? Never any satisfactory explanation from Regency mines of what happened with the RGM Moscicki coal investments. Moscicki didn't deliver on his side of the RGM deal but bizarrely RGM have never gone the legal route to try to retrieve all the vast sums of money they handed to him. It was just quietly swept under the RGM carpet. So all very strange.

RGM management can't really be confused (can they?) why many PIs have huge trust issues with them?

I'm actually going to put you and Bambos on my filter. So i will no longer see your posts.

I'm actually a non argumentative poster. I occasionally make a few posts a week. I will sometimes have a friendly chat with booboo and a few others. Then i will log off. So the two most argumentative posters on this thread, Spurs and Bambos, i will filter. So that makes 5 lse posters on my filter: Stephen Pearce, Okenia, Andrew Bell, Bambos & Spurs.

With the filter now i can have non argumentative thread. :)

"I think it is highly important that announcements made by way of an RNS should be accurate. Unfortunately this has not been the case on several concerning Rosa Mine. This must make investors very wary of subsequent announcements"
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I agree Colin . Those RGM coal RNSes, interviews and tweets were absolutely scandalous because there isn't any shadow of doubt that much of the information that RGM were giving out to shareholders last year was misleading and untrue. What was it last year, two coal mines coming into imminent production? Well that wasn't true. No doubt lots of Pis lost a fortune investing into RGM on that false information. Lets hope shareholders aren't being mislead again this year.

RGM shareholders thought RGM chairman Andrew Bell and Scott Kaintz were dedicating their lives to getting this JV coal mine deal completed. Daily RGM shareholders were constantly looking out for that coal RNS. Then we find out that actually Andrew Bell was taking a 6 day holiday at Champneys health club. Lol you couldn't make it up.

Yes i know some will say "but he deserved his holiday" but let's be honest he's in his dream job because it doesn't matter if he constantly fails, he still keeps that job. I think most shareholders would've thought that his paramount importance should've been getting that new coal asset tied up and then announced. But oh no the Champneys holiday came first.

"Oh and please don't try and "save us" from losing our money you patronising little so and so."
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I know that wasn't aimed at me but i can feel your anger building up. I went to church today and an hymn can always ease the pain. We can all get along. Hope this hymn helps:

"When a knight won his spurs, in the stories of old,
He was gentle and brave, he was gallant and bold;
With a shield on his arm and a lance in his hand
For God and for valour he rode through the land.

No charger have I, and no sword by my side,
Yet still to adventure and battle I ride,
Though back into storyland giants have fled,
And the knights are no more and the dragons are dead.

Let faith be my shield and let joy be my steed
'Gainst the dragons of anger, the ogres of greed;
And let me set free, with the sword of my youth,
From the castle of darkness the power of the truth"
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Apparently (in the photo) the guy on the left is the self proclaimed "Sheriff of AIM" Tom Winnifrith and the guy on the right is RGM's chairman Andrew Bell.

The great thing for those holding long and strong in RGM is that Tom Winnifrith will not be one of RGMs naysayers because apparently he's good buds with Andrew Bell. Saying that if RGM and RRR ever decide not to stump up the dough and so decide to miss one year of Tom's UK Investor show, then i'm not too convinced their friendship would survive.

Off topic. I was watching a cowboy film the other day. In this film the Sheriff kept turning a blind eye to his dodgy friends. Because of it the locals thought they had a dodgy sheriff in town. I turned it over after that because i got bored.

so bit difficult to make out who it is. https://twitter.com/BrokermanDaniel/status/1023073437412216832 But from how they are dressed it looks like those two well known guys who live near me.

Andrew Bell posted this on the sharepr***ets site a few years ago:

"Brilliant analysis throughout.
You’ve called this one right from early on based on the simplest fundamental analysis and common sense – as did Paul Scott at Stockopedia – till he was shut up by the QPP ‘activist shareholders’. He told me about this.
When a company or its ‘true believers/useful idiots’ resort to trying to terrorise dissenting voices, you know that something is badly, badly wrong.
The best response to nay-sayers is proof of performance; the best answer to shorts is solid progress"
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Spurs, so as you can see^^^^ he thinks "proof of performance" is the best response to naysayers. We all patiently wait for him to provide that proof.

Also bear in mind Paul Johnson's now been stuck in RGM for around 2 years and these rampy things he will tweet about RGM i've seen him post them many many times before. Also since his holding RNS on the 23rd May to announce he held 7.65% in RGM, since then i must've seen him announce 20 times on his twitter that he's just done another RGM top up, but strangely no new holding RNS from him. So obviously he's either busily day trading his RGM shares or maybe another explanation he keeps topping up while his wife keeps selling them.

Also this thread is kind of deceptive because often in a month we don't even have 50 posts on this thread. On the other hand the UKOG thread often has more than 1000 posts in a day and i bet over 300 of those posts will be negative. So although this thread may sometimes look awash with negative posts i think that is pretty misleading because often days will go by without any posts on this thread.

Lastly it always amazes me that some shareholders bizarrely start to shift the blame on thread posters for a stagnating company share price when the reality is that it's the company's managements fault because they aren't releasing price enhancing company news. Also to point out this lse forum allows "strong buy opinion views" + "strong sell opinion views" and so those less optimistic posters on this thread are NOT breaking lse forum rules.

By the way in posh circles i believe the word "boot" is the posh name for "fat"

"Hi Zumore, yes Scott and him have done alright out of it all so far and there will be plenty more to come cos they haven't by a long way finished milking the investor cow yet .One born every minutes they say ,some of which should know better."
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Sorry for the delay booboo. I often click on "reply" then do other things for 30 minutes then come back to the screen and then type out and "post" then walk away from the screen. So i totally miss the posts before mine.

And yes you are totally correct about Scott and Bell. This is their dream job, incompetence is rewarded, it is a cash cow for them.

I can remember reading on RGM hashtag that Bell had recently visited Mambare. But looking at his twitter i can only see that he was recently away for 6 days at "Champney's bootcamp" https://twitter.com/AndrewBRRR/status/1021069391138607104 . So maybe he didn't even recently visit Mambare?

Hello Bambos, yes of course you are correct about me not being one of the savviest players on AIM. For example i know in my head that some of the most savviest investors on AIM play AIM like a game of cards: in cards of course you can bluff and bullsh** and trick your opponents and it's perfectly acceptable and that's how many of the most savviest and profitable investors play AIM. They don't care if it's a cr&p company with lousy prospects and useless management, they just bluff and b*llsh*t and trick fellow investors that it's a WONDERFUL COMPANY, WONDERFUL PROSPECTS, WONDERFUL MANAGEMENT! Of course if the bluff works, gullibles buy in, the price rises, they sell out at a nice profit, JOB DONE!!

Of course i'm not the most savviest of investors because i don't play AIM like that. But i understand how it works,

Hi booboo. Yes from what you say it all screams of incompetence and being wasteful with company money. I've always said of Bell if he had remained private and had instead constantly tapped up his family and friends for money for his grand ideas then now he would be the black sheep in his family and all his family and friends would be skint. But i guess to give him credit he did find AIM and the only losers for his incompetence are his shareholders because of course he does get paid handsomely and his personal wealth does keep stacking up.