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who have recently been employed by Regency mines. They've commented on this mornings RNS and loan: https://twitter.com/AlignResearch/status/1004247030015954944 "RNS noted from Regency Mines #RGM this morning. $1.6m looks ominously like death spiral financing to us sadly. These things never end well"

"The Loan Note has enabled us to carry out this funding without liquidating our marketable holdings, including our strategic holding in coal bed methane producer Curzon Energy plc" ............. Have you noticed in the plural in "holdings" that gives you the false impression that RGM still hold ALBA shares? But i personally think ALBA shares have long been sold and so that plural in "holdings" actually means RGM still hold shares in Curzon energy and Red Rock resources.

"And damn good loan terms too" ........... It seems we have a differing views Stephen because this loan structure looks pretty dreadful to me. This is an extract from todays RNS: "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. The loan will carry a 10% interest rate and be for an initial term of six months, and is subject to an implementation fee of $96,000." So 10% interest over 6 months would mean RGM would be paying an additional $160,000 interest after 6 months. That's not 12 months but 6 months!. Then on top of that an $96,000 implementation fee. So we add $160,000 + $96,000 onto the $1,600,000 loan and that means after 6 months the loan rises to $1,856,000. Then todays RNS says additionally about this loan: "a further six-month extension available for a 5% fee" Ok let's add on top of the $1,856,000 a 5% loan extension fee (let me get my calculator): so that 5% extension fee is $92,280 and so let's add that amount on top of the $1,856,000 and that comes to $1,948,280. So if Regency mines don't pay anything on this $1.6 million loan in these next 6 months it will have rocketed up to (according to my calcs) $1,948,280. ................................................ Just recently RGM have took out further loans to repay back these death spiral loans. So you can guarantee this $1.6 million loan will eventually cost well in excess of $2 million to repay back. So not good loan terms Stephen because that 130% conversion will never happen because last year you'll remember YA could've converted their $1 CLN at a RGM price of 1.15p but that didn't happen. So in my opinion that 130% is just an angle for the rampers.

in the Andrew Bell 2010 interview (link in my last post) Bell is talking about Mambare and his latest coal investment in Pakistan. Which he was quite hopeful about. I wasn't around at the time but i think i recall seeing an old RNS when RGM sold up in Oracle coalfields at massive losses. Also in the same interview Bell talks about RGMs A$6 million investment in Direct nickel. That was a disastrous investment by Andrew Bell because that A$6 million investment is now near worthless. Always amusing seeing pumpers saying Bell is a great deal maker. He's been here around 14 years and he's peed away tens of millions on rubbish investments.

in 2012 a proactiveinvestors article on RGM: http://www.proactiveinvestors.co.uk/companies/news/39614/regency-mines-bell-expects-imminent-news-on-mambare-nickel-project-47299.html An extract from the above article: "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" ................................. I also recommend watching this 2010 interview with Andrew Bell: https://www.youtube.com/watch?v=myXaMNdEvE8 In the above 2010 interview Andrew Bell says the 2011 Mambare exploration would cost �2 million and he also talks about the various nickel processes. He says using the then partners Direct nickels nickel processing technology could mean Mambare could possibly be brought into production for around $400 million; but if using one of the other clay nickel separating methods then that would mean bringing Mambare into production could spiral to $2 billion + huge overrun costs. ........................ So if the sensible investors ignore the twitter hype on Mambare and instead take on board the astronomical costs Andrew Bell talked about in the above two earlier interviews. If you do that then you realise tiny Mcap Regency mines have no financial capabilities of advancing Mambare.

You're coming across on this thread increasingly desperate.

A while ago i read an amusing comment on i believe shar********s when someone was saying how Bell was a lifestyle chairman who was constantly leeching from shareholders but delivered nothing but misery in return. Somebody then jumped to his defense and amusingly said "You shouldn't invest on AIM then should you? because that's what AIM juniors do when they are just starting out!" Which may be true. But 14 long years at RGM look what Andrew Bell has built here. IT'S GARBAGE!! He's probably leeched over �30 million here over the years through fundraises and he's built utter **itness here! He probably privately tells PIs "little steps at a time. I'm building good foundations here!" 14 LONG YEARS! VIRTUALLY NOTHING OF ANY WORTH HERE! I'm sure another fundraise will be soon upon us . Extracting to the max. Lifestyle chairman.

I forgot RGMs Greenland Motzfeldt iceberg asset that they picked up for just a couple of thousand pounds. They've done nothing with it: so also worth �0.

I cannot disagree. In my opinion this �4.15 million Regency mines MCAP is way WAY overvalued for RGMs miserable asset/investments. (1) It seems all of RGMs Stephen moscicki coal investments are now worthless. So those investments are now worth �0 (2) RGMs 50% stake in the abandoned Mambare nickel/cobalt asset. Mambare is surrounded by Jungle and has next to no infrastructure and RGM haven't bothered with it for almost 7 years. RGM haven't bothered with it, nobody is bothered with it. So that is also worth �0. (3) RGM hold an approximate �175,000 in RRR shares. (4) RGM hold an approximate �550,000 in the very illiquid Curzon energy. You would think if they ever attempted to sell those shares they'd drag the Curzon price right down. So they definitely wouldn't get �550,000 for them if they attempted to sell them. (5) RGM recently invested �400,000 in car hire company "White car" I believe that is everything! For the life of me i can't work out how those miserable assets/investments can give RGM a �4.15 million MCAP. I suppose some may be able to give a good case for a �1 million MCAP but definitely not a �4.15 million MCAP. So in my opinion this Regency mines MCAP is hugely overvalued.

MrM, i believe when Jupiter relisted the 37% Manganese price was above $7,50 per dmtu but the price has been dropping since then. Last week the 37% price plummeted by 8.4% to $5.97 per dmtu. https://www.metalbulletin.com/Article/3805345/Latest-news/GLOBAL-MANGANESE-WRAP-Low-grade-ore-prices-dip-below-6-per-dmtu-downstream-demand-weakens.html Of course healthy profits can still be made at $5.97 but if the 37% manganese continues to fall then you would imagine dividend payments from Jupiter would eventually stop. So just looking at it purely from the "manganese price falling perspective" i can understand why PIs are not too keen on Jupiter at the moment.

To follow on from the last post Stephen Moscicki's "G.E.M holdings US corporation" (mentioned in below PDF) + it's subsidiary company "Mill creek mining inc" were made bankrupt on 13 th March 2018: https://www.inforuptcy.com/filings/vawbke_256263-7-17-bk-71352-gem-holdings-us-corporation-and-mill-creek-mining-inc Also the company Moscicki purchased "Clincho met coal" but failed to make the agreed payments on, was also made bankrupt on 13th March 2018: https://www.inforuptcy.com/filings/vawbke_256264-7-17-bk-71353-clinchco-met-coal-inc

Cgull, i see Moscicki was involved in a court case in October last year: https://www.pacermonitor.com/view/7NXU4OA/Cobalt_Coal_Ltd_v_GEM_Holdings_US_Corporation__vawdce-17-00039__0001.0.pdf?mcid=tGEZDS Briefly looking at the above PDF it seems Moscicki "US Carbon resolution corporation" (which is the company trying to sell RGM it's 80% of Rosa coal mine) in 2015 agreed to buy "Clincho Met coal" but he got took to court because of non payments. Moscicki had transfered Clincho over to his other company "G.E.M. Holdings U.S. Corporation" but they also didn't make payments. By the way Moscicki had made himself president at Clincho and David Windruss vice president: https://opencorporates.com/companies/us_wv/293998

It seems he's long moved on from RGM and he's found some new sucker to invest with him. https://www.sharesmagazine.co.uk/news/market/5908755/Acquisition

considering that in the last few months of 2015 this market cap was hovering around �400,000. Today the RGM market cap is over 11 times bigger at around �4.5 million. Back then RGM still had Mambare and Motzfeldt in it's assets and since then nothing has been done with either of those assets. Booboo is quite right RGM don't really have any coal assets at present. The coal investments with Stephen Mosicicki turned out to be an investment disaster from Bell and Kaintz. We mostly talk about the Rosa coal mine debacle but RGMs huge investment in Stephen Moscicki's Vali carbon corporation was also an investment disaster for both Andrew Bell and Scott Kaintz. The 23rd March 2018 Half yearly report 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" So last year Andrew Bell and Scott Kaintz sunk �821,566 of RGM shareholders money into Stephen Moscicki's Vali carbon corporation and the incompetent duo have already written that �821,566 off. It seems from the UK investor show presentation RGM have already cashed in all their ALBA shares. So that leaves around a �600,000 investment in Curzon energy and a �400,000 investment that RGM made in a car rental company; RGM also have a small investment in RRR and of course they still have Motzfeldt and Mambare: nothing has been done with Motzfeldt (so dead asset) and nothing has been done with Mambare for almost 7 years (so again dead asset). Any work at Mambare is bound to cost RGM plenty of money; likewise any new coal asset announcement is also going to cost RGM big money. According to my calcs i would say RGM are pretty near skint and so i'm guessing within day or weeks the Andrew Bell begging bowl will come out again and another RGM fundraise will be announced. So in honesty i'm pretty flabbergasted at this present high RGM MCAP because it seems way too high for what little they have.

Totally agree Colin . The FCA say that misleading information could lead to prosecution and up to 7 years in prison. Why aren't the duo behind bars? PIs lost a fortune on all that misinformation.

I've not viewed it yet but here it is; https://www.youtube.com/watch?v=Ux-QyHzX4dY

https://www.youtube.com/watch?v=BvrxeSURz2o Well that didn't go well for scott or Andrew. The investors started asking questions from 12 minutes 35 seconds. Although you struggled to hear the investors questions you could tell they were very unhappy. When Andrew Bell eventually got up he had a face like thunder. He obviously cannot take criticism. I mean what did he expect, pats on the back for all the coal cockups and massive dilution of last year?

you seem to partake in an awful lot of RGM placings. Have you been approached lately? You know sounded out if you would be interested again? Now i know you can't yes if you have but you can say no if you haven't. Thanks

Hello Stephen. You highlighting those comparisons between those four companies actually proves how little worth you should give to in-situ values and in my opinion a PI certainly shouldn't be piling into a company because they have an asset or assets with incredible high in-situ values. Like Paul Johnson says "in-situ valuations are an amusing benchmark but not much else". Stephen i may have seen a post or two over the years when you've expressed your love for the MTR/MOD Botswana asset? You list that Botswana asset having a �3 billion in-situ valuation. You also list RGMs Mambare asset having a �17 billion in-situ value and you also list RGMs Motzfeldt asset having a �120 billion in-situ value. Now comparing RGMs two assets versus the MTR/MOD asset i'm sure you personally would give greater worth to the MTR/MOD Botswana asset because both companies are dedicated to it and they are trying to progress it? On the other hand RGM acquired the Motzfeldt license for a nominal cost (i believe around two thousand pounds) and they've never done nothing with it. And they've also done nothing with Mambare for nearing 7 years. I'm afraid Stephen in my opinion this is a classic lifestyle company. If we reverse the 20-1 share consolidation that happened in December 2015 then the shares in issue today would be almost 16 billion. So a notorious huge diluting company, who never seem to get anywhere but they always have a constant thirst and need for more money. The same guy who's been in charge for the past 13 years is still here, and so in my opinion nothing will change.

Ah yes coffeecups one of those MENSA type questions. If me and someone like MrMagic were to club together our RRR shares, would we have a sufficient percentage to call an egm?