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Andrew Bell said:

"We’ve now done enough work at Mambare to prove what we’ve got. The next stage of serious exploration would expand the resource and probably involve in-fill drilling. At each stage the cost scales up; that programme would be far more costly than anything done up to now"

"Nickel projects can take a few years to bring into production and given the project’s large scale there’s a limited number of potential partners that we could bring in to build the mine.

Bell says taking the next step at Mambare, moving towards feasibility, could cost between US$12 and US$20 million – or maybe less, depending on the route taken.

"Either way, we wouldn’t get much credit for doing that now, in this market"
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Also this warning from the RGM 2012 RNS: http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RGM&ArticleCode=fzzdh2kk&ArticleHeadline=MAMBARE_NICKEL_LATERITE_PROJECT_AND_DIRECT_NICKEL

"The perception of the JV partners at this stage, when a sizable resource has recently been declared, is that further drilling would not increase project or shareholder value to a degree proportionate to its costs, and ultimately might be value destructive"
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So way back when there was lots of warnings of how expensive and value destructive Mambare could be if RGM and former partners persisted trying to advance it but unsurprisingly RGM haven't bothered with it since.

"Mambare has $Billions in situ resources Nickel and Cobalt in Mambare"
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Bambos i know you a big admirer of Paul Johnson. Here's what he said (in 2016) on in-situ valuations:

"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"

He also said:

"On the downside the lateritic nature of the deposit, combined with the usual issues of development challenges mean that Mambare in-situ is just a benchmark but not again the fundamental value of this project"

I think you are overestimating the present worth of Mambare. In my opinion it's pretty worthless.

For example in December last year Horizonte minerals (HZM) bought mining giant VALE's Vermehlo nickel cobalt project (in Brazil) . Horizonte bought the Vermehlo project for $2 million and they would pay a further $6 million if they ever brought it into production. Previous owners had spent upwards of $200 million on Vermhelo and it is a way more advanced project than RGMs Mambare. For example Vermhelo has a mostly "measured mineral resource" but Mambare's has a far inferior "inferred mineral resource".

So strictly from looking at Vermhelo you can see that RGM probably would have to spend many millions to get up to the stage Vermhelo are presently at. So because HZM only paid $2 million upfront for Vermhelo then because Mambare is way less advanced than Vermehlo then we can conclude that Mambare (in present state) is pretty worthless.

Andrew " Delboy" Bell: "Next week we will be millionaires Scottney"

Scottney Kaintz: "Another million pound placing?"

Andrew "Delboy" Bell: "Yes"

Scottney Kaintz: "Pucker!"

Andrew "Delboy" Bell: "Yes luvly jubbly. You know it makes sense"

Hi Colin and Booboo. I wasn't around when Mambare was being explored 7 years ago but wow it does look pretty bleak at Mambare. So at present it looks pretty dire here because still no news on this rumoured new coal asset + it looks like this Mambare twitter ramping these past couple of days will soon fizzle out.

My personal opinion is if still no coal asset news come August then RGM holders will start to get seriously peed off with Bell and Kaintz. But then again Bell today opened up his private twitter account to non twitter users like myself and from this tweet https://twitter.com/AndrewBRRR/status/1022452811789942784 it seems he's joining Winnifrith and Brokerman Daniel on a 32 mile walk on Saturday. So we may be looking for a new RGM chairman come Monday.

Also from that above tweet he calls Brokerman Daniel his "friend". Well whenever i read BMDs twitter and he's talking about Andrew BMD always calls Andrew a cr*ok and useless. So if that's who Andrew see's as a friend then Andrew has many many friends. :)

For those who don't want to watch the video in my last post. Andrew Bell said in that video if using former partners "direct nickel" nickel process then Mambare could probably be brought into production for around $450 million; if they used another nickel process then bringing Mambare into production could cost "$2 billion + huge cost overruns".

Looking around i see lots of promotion these past few days over RGMs Mambare asset. Here's a very good Andrew Bell video interview from November 2010. He talks about all the differing Nickel clay separating processes and the ultimate costs of bringing Mambare into production. I believe it's Andrew's most interesting interview: https://www.youtube.com/watch?v=myXaMNdEvE8
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Also a proactiveinvestors article on Mambare from Feb 2012. In the article Andrew Bell said:

"Nickel is not in favour currently. So we’re not pushing Mambare at the moment. We’ve done enough to prove the concept there.
A lot of our market value is in now in just the one project. Nickel projects can take a few years to bring into production and given the project’s large scale there’s a limited number of potential partners that we could bring in to build the mine.
Bell says taking the next step at Mambare, moving towards feasibility, could cost between US$12 and US$20 million – or maybe less, depending on the route taken"
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So i hope that greatly helps those interested in Mambare. :)

i remember this chairman used to be very active into giving out the links of his friend Winnifrith when TW used to do QPP articles. On the share-pr+fit article titled "Star ex Canaccord analyst Kevin Ashton says Quindell will go bust and more on that note Rob Terry got supressed". In praise of this article Bell posted a comment in the comment section and said:

"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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Always stuck in my head what he really thinks of forum positive posters. No doubt these days twitters positive posters too.

since i began investing on AIM back in 2013.

Before i began investing on AIM i would've naively assumed that the time of an AIM chairman would be short lived because if he/she made bad decisions, that cost shareholders money, he/she would (A) quickly get sacked or (B) they would fall on their sword and resign in shame.

OH MY GOD HOW WRONG WAS !? Cling cling cling make excuses. Cling cling cling grab more wages. Cling cling cling shift the blame and grab more wages. Cling cling cling unbelievably shareholders accept it.

when RGM management took free shares an outraged big RGM shareholder Darren Hazlewood tweeted:

"RGM# Over the last 12 months the business has generated nearly £5m via numerous avenues. As the market capitalisation currently sits approximately 40% below that figure I politely ask the BOD’s to return the stock granted by the trustees" https://mobile.twitter.com/darrenhazelwood/status/938826765996318722?p=v
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Of course no stock was returned and during 2018 the unrelenting RGM thirst for more and more money has continued:

(1) 11th January 2018: RNS to announce a £1,050,000 placing
(2) 29th January 2018: RNS to announce a £100,000 placing through the Teathers App.
(3) 6th June 2018: RNS to announce a $1.6 million loan
(4) ?????????
(5) ?????????
(6) ?????????
(7)????????
(8)???????
(9)????????
(10) ?????????

With Andrew Bell being at Regency mines for almost 14 years he must have had £30 million + to build a success at Regency mines? but he's built nothing. Absolutely amazing he's still in charge here because quite clearly he doesn't have the necessary ability to make Regency mines a success. Isn't almost 14 years long enough?

in first paragraph i should've said March 2017 (not 2016).

Then later on i should've said "greater understanding" (not great understanding)
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Pity no edit function because then no need for this extra post.

In November/December 2016 the combined joint brain power of Andrew Bell and Scott Kaintz decided it would be a great idea for RGM to invest £250,000 in Stephen Moscicki's company "Carbon minerals Corporation" because Stephen (via CMC) was going to be bringing the Rosa coal mine into coal production. RGM told shareholders that March 2016 (but may just slip into April 2017) was when the Rosa coal mine would be starting production. But in the June 2017 podcast interview with Harry-AIM RGM chairman Andrew Bell told Harry that Stephen Moscicki wouldn't let him visit the still non producing Rosa coal mine. That was deeply worrying because Andrew Bell and Scott Kaintz had already invested £821,566 in Stephen Moscicki's other company Vali carbon corporation. That worry was justified because in the March 2018 RGM half yearly RNS report RGM said:

"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, a company targeting the acquisition and development of metallurgical coal assets in Virginia, as announced on 6 February 2017, 9 March 2017 and on 16 March 2017."
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Anyway back in May 2016 the combined joint brain power of Andrew bell and Scott Kaintz decided it would be a great idea for RGM to invest £175,000 into the company Westport Energy. Later Westport energy changed their name to Curzon Energy. Fast forward to September 2017 and Curzon Energy were about to list on the London stock exchange and Andrew Bell and Scott Kaintz combined joint brain power decided RGM should invest a further £400,000 in Curzon Energy. Very good friends of Andrew bell, death spiral company YA Global were also owning 32,462,500 in Curzon Energy shares, or in percentage terms YA Global owned 44.72% of Curzon Energy shares. Since listing the Curzon Energy share price has plummeted in price from 10p t0 6.5p.
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Anyway around September last year the Nickel price began to rise and this brought back into the spotlight Mambare, RGMs Nickel/Cobalt asset that they had last explored 7 years ago. In the 22nd December 2017 RNS Andrew Bell said "These metals are two of the key electric car battery and battery storage metals, and we need to increase our understanding of this driver of the now recovering nickel market"

So to get a greater understanding did Andrew (A) take a inexpensive college course to gain great understanding? or (B) make a £400,000 RGM investment in a car hire company? Of course it was B
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With Mr Bell and Mr Kaintz doing so terribly in 2017 did they (A) Resign in disgrace? or (B) in Dec 2017 award themselves free RGM shares? Of course they did B

When i now look for Steelmin news my first choice of search is "Jajce press . com". Today i looked and they had a news story and they were basically repeating what the RRR rns said yesterday, so they had obviously read yesterdays rns and then reported it. Part of the news piece said:

"The plant is owned by Steelmin , where Red Rock has 22 percent of its shares .

The process of commissioning began on May 5, when Steelmin started heating and powering the stove in Jajce .

It is about the former factory of Elektrobosna , a pre-gigantic giant, writes Biznis Info"
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So i thought, ok the Jajce press . com will be my first choice when searching for Steelmin, my second choice will be the reporter of this story BIZNIS INFO. So i search for Biznis Info to see if he has a twitter account then it dawned on me it meant BUSINESS INFO. Which amused me greatly. :)))

that sharetalk always keep including RGM in their Horsehill links. Yes RGM tweeted yesterday "Continuing share price strength at our investee company Alba" but suspiciously they won't say how many ALBA shares they actually own: let's be honest they could be trying to jump on the Horsehill bandwagon and now own only a few thousand ALBA shares.

Also when the Paul Johnson interview was posted on this thread at 9.47am yesterday and it was mentioned that PJ had said in the video that AB had seemed to have gone into hiding because he wasn't giving shareholders any news: then no doubt AB quickly watched the video and saw PJ also made other criticisms about him, then no doubt that criticism spurred AB to make that RGM tweet (around 3 hours later) to show that he still existed.

Lastly i believe it will be 50 days tomorrow since RGM RNSed that they had took out a $1.6 million loan. Since then the interest is stacking up weekly on that loan and absolutely no news from RGM on any new coal asset. At the time many said that RGM management would quickly announce new coal asset news because it would be otherwise pretty idiotic of RGM management to just take out an high interest loan and then just sit there without releasing any coal news and just letting that huge loan stack up weekly debt.

Booboo just to point out i didn't directly quote Paul. I was the one who said it was wise of him to no longer keep repeating what Andrew says because it would make him look like a liar when it doesn't come true.

I wasn't around at the time but i've read old forum posts and numerous PIs then rated Bell and wouldn't hear a bad word said against him. Of course these days completely different, especially after the RGM Moscicki investment scandal. I guess an horse analogy would be when a horse first starts out, owners dream and nobody knows it's limits: then after more and more races the true ability of that horse is revealed. So back to Bell, as more years have passed and more disastrous investments have happened, then it became clearer to PIs that Bell wasn't as good as they thought.
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Thanks for that PJ video Mike. I'm sure the interviewer smirked when PJ announced to him that he was in RGM. The interviewer must have glued himself into his seat because he managed not to fall off his seat when Paul announced to him that he held around 60 million RGM shares.

I actually think my earlier point is Paul's big problem because he's said on numerous occasions that back in the day he made an investment in a Bell company that helped pay off his mortgage. Back then (with reputation in tact) Bell could probably say things that could dramatically move the share price: however these days very few believe what Bell says, after last years Moscicki investment scandal his reputation (in my opinion) seems in tatters. So now an investment in a Bell company is totally different to what it was a few years ago.

Though Paul is right when he says Andrew Bell seems to have gone into hiding. Also wise of Paul to no longer keep repeating what Andrew says because what Andrew says in RNSes rarely seems to come true. So if you keep repeating what Andrew says then it no doubt ruins your own reputation because it makes you come across like a liar.

"Replacing the filter works significantly reduces the emission of solid particles into the air"
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Only REDUCES the emission of SOLID PARTICLES INTO THE AIR i doubt fills the locals with joy. No doubt a conversation could go like this "yes Goran i am very pleased you've now got a job at Steelmin, yes without a doubt we are now more wealthy...but Goran i do yearn for those days when we were more poor but we could sit out in the sun without wearing a face mask"

I guess it's that age old question, would you rather be poor but healthy? or slightly rich with poorer health? Of course most sensibles choose poor but healthy.

Let's hope this filtration does help and years down the line the locals near Steelmin don't have poor health.

Booboo pretty depressing stuff. I think you've took over from me as being the most depressing poster on this thread.

Let's get off talking about that depressing morbid subject you are talking about and get on to the more optimistic subject of Regency mi, oh god that's depressing too. :(:(

for all those RRR shareholders/previous RRR shareholders who invested and lost fortunes in RRR all because they foolishly hung around for the sale of that Greenland asset (the sale didn't happen), then just a few years later Bell dumps it on the quiet.

Come to think of it i do recall Bell in a podcast interview the other month when questioned about Greenland he jokily said "it is dead.... like a dead parrott". So i guess that's his idea of an official Greenland announcement.

Hello Rattie. RRR chairman Andrew Bell never had the courtesy to inform RRR shareholders (by RNS) that RRR had relinquished the Iron ore Greenland licence but ALBA minerals 4th September 2017 RNS confirms they have: http://www.lse.co.uk/share-regulatory-news.asp?shareprice=ALBA&ArticleCode=ppo7vlz5&ArticleHeadline=Further_Exploration_Licences_in_Greenland .

Below is an extract from the ALBA minerals website. If you look back at old RRR RNSes on Greenland you'll see it all matches up with the Greenland licences RRR held. ALBA's Michael Nott is also on the board of Red Rock and so when RRR relinquished the Greenland licence he must have informed ALBA to quickly snap them up.

EXTRACT FROM THE ALBA WEBSITE:

"The previous licence holder performed geological mapping, reconnaissance geochemical sampling, a high-resolution magnetic survey and a drilling programme. The resource definition drilling programme at the Havik prospect outlined a maiden inferred resource of 67 Mt with a grade of 31.4% Fe (with a 0% Fe cut-off). Preliminary metallurgical test work indicated that a high-grade concentrate of 70% Fe, 2.0% Si, 0.3% AI203 and 0.01% P could be produced through conventional magnetic separation (Davis Tube Recovery).

Exploration drilling was performed at the De Dødes West and Haematite Nunatak showings. Both of these areas are mountains protruding from the inland ice (termed a "nunatak"). Five holes were drilled at De Dødes West where the widest intersection was 85.04 m @ 29.66% Fe (DWD002 from 12 m), and the highest grade encountered was 3.62 m @ 58.84% Fe (within a 69.06 m interval with a grade of 26.52% Fe from a depth of 117.9 m)."

A total of four holes were drilled at Haematite Nunatak, with the widest intercept being 48.7 m @ 39.61% Fe (HND003), with the same drill hole also including the highest grade (0.6m @ 68.18% Fe). As the prospect name implies, the mineralization is mainly composed of haematite, rather than the magnetic mineralization present at Havik.

Structure

Alba will operate this licence under a 51:49 joint venture. It will manage the project (as the owner of 51% of the Project), and its joint venture partner, a private mineral resources investment group, will fund the first year's exploration expenditure in return for a 41% interest.