Member Info for zumore

Thanks Magic. It will be interesting to see if JMS interest eventually picks up. If not of course the patient Jupiter longtermers will have the option to sell. Though of course not that option for RRR because of course RRR can't sell because ABs bizarrely locked RRRs Jupiter shares in escrow. To be honest i struggle to see how Andrew Bell can sit on the Jupiter board but at the same time be representing Red Rock's interests because AB locking up RRRs Jupiter shares in escrow doesn't seem to be helping RRR shareholders. If you look at the 2017 Jupiter annual report you will see that Jupiter pay Andrew Bell "consulting fees" and in the report it says: "consulting fees paid to "Andrew Bell Consultants" a company in which Mr A Bell has a beneficial interest" So he pockets the money for himself. Now what would be fascinating is who pays Bell's trips out to Australia and who pays for his hotel stays in Australia when he attends Jupiter meetings? You would think if RRR are paying for trips and hotels then he is representing RRR and therefore any money that Jupiter should pay him then he should reimburse RRR for any hotel or flights out to Australia. . In my opinion what would be scandalous is if RRR pay for his flight and hotel trips to Australia to attend Jupiter meetings but he pockets any money that Jupiter pay him for himself. Like i say that would be scandalous.

to $6.52 per dmtu: https://www.metalbulletin.com/Article/3803962/GLOBAL-MANGANESE-WRAP-Ore-alloy-prices-drop-further-on-weak-demand-in-China.html Of course still excellent profit margin at the above lower price but if my memory serves me correctly i can recall around two or so years ago when the 37% dmtu price had collapsed to around $2.30 and so i suppose we can never get too complacent that this present 37% price will remain this high. I haven't looked lately but has the Jupiter share price been doing well lately?

the very day before (18th April) the same person said: "#CON moving up - quite astonishing that the market hasn�t picked up on the U$1.7billion in situ at Stonepark RNS yesterday!!!!" Of course that wasn't about RGM but you can see that the promoters/rampers love using in-situ values to pump.

On April 19th Paul Johnson tweeted this about Mambare: "Cobalt U$90,000/t so RGM 50% owned Mambare has circa $13 billion of in-situ #cobalt from only ~3% of mineralised plateau!!!! Mkt cap �3.9m" .......... Now do you (A) pile in because you like that large in situ-value? Or do you (B) remember what Paul Johnson said previously about in-situ values: " 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" and so (B) don't pile in?

yet on twitter the pumpers cannot stop pumping. Absolutely amazingly they've now started to ramp RGMs Greenland Motzfeldt asset that cost RGM virtually nothing. Lots will remember the almighty Motzfeldt twitter ramp attempt that Paul Johnson started in 2016 when PJ and chums (like Mr Pearce and Mr Neil) started pumping on twitter that according to their calculations Motzfeldtz had an in-situ value of $102 billion (yes billion not million). Of course the RGM chairman liked this ramp attempt so he released an rns http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RGM&ArticleCode=b9d4lsfi&ArticleHeadline=Review_of_Motzfeldt_Centre_Project_Greenland to say RGM would be looking at Motzfeldt more closely to get a better understanding of it. Quite quickly the Motzfeldt ramp attempt died a death and then the architect of the Motzfeldt ramp Paul Johnson killed it off completely when in February 2017 RGM announced http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RGM&ArticleCode=usod3du6&ArticleHeadline=Grant_of_Option_over_Motzfeldt__Issue_of_Equity that Paul Johnson's company "value generation limited" had a 4 month option to buy 100% of Motzfeldt for only �350k. Even though Paul Johnson and chums had previously been ramping that Motzfeldt had a $102 billion in-situ value, in the end he didn't even buy Motzfeldt for �350,000. Though i'm sure PIs could learn a very important lesson from all this because when the rampers are squealing large in-situ values then you really shouldn't get suckered in by it. In fact Paul Johnson once did a ramp article and he gave away what he really thinks about in-situ values. Paul said this: "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" ...................... The moral of this post, don't get suckered in when the pumpers are squealing large in-situ values.

"3..Steelmin To start prod. very soon, ($400k profit on back to back loan. 22% equity" ............. Yes Briarbank i too noticed when Andrew said $�3-400k profit on the Steelmin back to back loan. If you remember way back he originally said when Steelmin repaid back the loan that would create a �1.5 million cash surplus for RRR? Now �1 million of that supposed �1.5m cash surplus was no doubt because AB anticipated all the 0.80p cln holders would convert them into RRR shares but i believe that AB is starting to doubt that now, especially if this share price dips a little lower. Of course if hardly anybody converts then Red Rock would (after the conversion period expires) have to repay �1million + interest back to the CLN holders.

Good posts booboo! I hadn't been around way back when and so i hadn't seen those Mambare photos. When "jungle" was mentioned i had half expected the RGM Mambare asset to be on the edges of the Jungle but from those photos it looks to be in the middle of the jungle and so that's not good. ......................... I can't help but feel some gullible PIs are getting suckered into buying into RGM by this latest Mambare ramp because i don't believe anything of significance will be happening with it because RGM simply don't have any money to advance it. These are some extracts of an Andrew Bell interview from 2012. RGM chairman Andrew Bell said this: “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; that is why we are carrying out a value engineering study" Later in same 2012 interview Andrew Bell says: "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. Either way, we wouldn’t get much credit for doing that now, in this market" ..................................... PIs should take on board the huge anticipated Mambare costs that Andrew Bell talked about in his above 2012 interview. Of course RGM may do something of lesser costs at Mambare that is just to give the impression that they are doing something at Mambare but in actual fact they would be doing nothing of importance at Mambare. You know purely for ramp purposes to get a couple of fundings away.

Yes MrMagic it is him. He never uses quotation marks when quoting people and his posting style is pretty easy to spot. His name this time is "covert" and according to the online dictionary covert can mean (hidden, secret, concealed). Which of course is a joke for Vini because people can usually spot his new alias after just a couple of posts.

Booboo and the vast sums you mention for Mambare don't surprise me one bit because last year AIM listed HZM purchased from mining giants VALE their Vermelho nickel/cobalt project, i believe HZM paid $2 million upfront and then they would pay a further $6 million if Vermelho ever went into production. But HZM reported that around $200 million had been previously spent on Vermelho, they also said 152,000 metres had previously been drilled at Vermelho, they also said that Vermelho was in a good mining district of Brazil which had good infrastructure and was close to HZMs other project. Compare Vermelho with Mambare, Mambare had around 8000 metres of drilling in two separate drill campaigns, compared to Vermelho's 152,000 metres of drilling. According to former Mambare project manager Ian Warden, Mambare is in a jungle area and i'm guessing it has little surrounding infrastructure, compared to Vermehlo being in a good mining district with excellent surrounding infrastructure. So bearing in mind how much HZM bought Vermelho from mining giants VALE you can guess what a mining giant like VALE would value Mambare, an underdeveloped, with very little exploration and little surrounding infrastructure, VALE would probably value Mambare pretty worthless. Like you Booboo it is saddening seeing people getting suckered in because Mambare in it's present state is not an asset of much worth.

Hi booboo, i remember poster vipassana posting an article a couple of years back (i think over on advfn) and in that article a reporter was saying that US company YA Global may have potentially violated USA sanctions in Sudan, by investing/lending money to Regency mines who would be using that money in Sudan. I don't know what came of the above but maybe YA told RGM that no more money could be lent to them for Sudan purposes. Of course that's a pure guess on my part but maybe that's why RGM dumped the Sudan project because they knew that future funding would be difficult to come by? If that were true then again pretty shocking due diligence by Bell that he didn't initially realise that under (then) USA sanction rules that a USA company couldn't lend/invest money in a company if that money would be then used for Sudan purposes. A small segment of the Law360 article says: "The sanctions prohibit any U.S. person, including businesses, from entering into a contract with Sudanese entities in support of �an industrial, commercial, public utility or governmental project� in the country, according to a sanctions handbook from the Office of Foreign Asset Control, the U.S. Department of the Treasury unit that oversees U.S. sanctions compliance. "Yorkville Advisors is currently conducting an internal investigation concerning its investment in Regency Mines and will take necessary action to report its findings to regulators,� a Yorkville representative said in an email. Representatives for Regency did not respond to a request for comment. The company�s investments in Sudan do not violate sanctions the U.K. slapped on the country, which only bar support for the country�s military. Regency is a small, U.K.-based mining firm with operations in Sudan, Australia, Papua New Guinea and Greenland. The firm has had a market capitalization of less than $1 million." ..................... So from the above article RGM didn't break any UK rules but if their main lender was a USA lender then those USA sanctions in Sudan would obviously scupper YAs ability to lend to RGM. But again i repeat, it's a pure guess on my part why RGM suddenly dumped their Sudan project.

Booboo, from my previous years observations this RGM/RRR chairman DOES have extreme difficulty being upfront with PIs on certain matters. One notorious example was way back in 2013-2014, it was in his other company RRR, during the summer/autumn of 2013 the RRR share price escalated because Bell was making out to shareholders that Red Rock's Greenland iron ore asset was near to being sold for multi millions. Then slowly but surely the share price retracted but Bell always made you believe that the Greenland sale could happen at anytime . Then on April 3rd 2014 a new poster on the RRR thread appeared and he/she said that Red Rock's partner in the Greenland asset NAMA were trying to sell their share of the asset on a site which i believe was then called the "mergernetwork". I recall poster Vipassana contacting Bell and Bell replied to Vipassana saying that NAMA were probably "hard up". The very next day (April 4th 2014) Bell released what could only be called a "burier rns" http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RRR&ArticleCode=awb9lzph&ArticleHeadline=Update__Ivory_Coast_Exploration_and_Other and buried deep in the rns he kind of came clean that the Greenland sale was now unlikely. To this day i believe if that new poster hadn't have posted that information he/Bell would've kept stringing PIs along for a few more months. So that poster forced him to finally come clean that the Greenland sale was unlikely. ........ Of course with Rosa and the other Moscicki coal investments i don't believe he's ever been upfront about them. Sure he shifts the blame on to Moscicki but most PIs realise if Bell/Kaintz had done thorough due diligence Moscicki wouldn't have received a penny of the RGM money. Though some do back Bell and say that he eventually worked out Moscicki but the November yearly report said RGM only had approx �9,000 cash at their June 30th company year end, so you can deduce from that Bell/Kaintz only worked out Moscicki when the company money was almost gone. So in my opinion the praise for Bell/Kaintz is bizarre because many PIs had worked out it was a scam many many months before. So lol for those that praise Bell/Kaintz. Though getting back to your point booboo, if RGMs partners in Mambare are now just a few individuals who wouldn't have the financial means to fund Mambare exploration, then you are right RGM management need to tell PIs about this. I consider that price sensitive information. So should be upfront with PIs about it.

Booboo, in this recent RGM pdf presentation https://twitter.com/Regency_Mines/status/988370685889310720 i didn't see any mention of ALBA and because no mention i'm assuming RGM may have now cashed in all their ALBA shares. So if they have it would be good if RGM rnsed this but Bell doesn't always inform PIs because when RRR had shares in MTR and Goldstone resources i can remember one early RNS that announced RRR were selling down their Goldstone shares, but then no further RNSes from RRR, but Goldstone were releasing holding RNSes to announce RRR were selling down. Also RRR did a share swap with MTR but they never did announce they sold, although zero mention of it these days so they almost certainly did sell their MTR shares. I don't expect that ALBA money to last long and so i do expect another fundraise pretty soon. I'm not convinced they'll cash in their CZN shares anytime soon because YA hold an huge amount in CZN (from IPO) and i don't think Bell would want to displease YA by hammering down the CZN price by offloading all their CZN shares. I actually think RGM will be getting another big convertible loan note from YA in the next few months and so Bell will be wanting to keep in YA's good books.

I guess PIs have to weigh up who they believe. Do they believe the former project manager at Mambare, who said up to 90 staff were needed when they last did exploration work at Mambare? Or do they believe the twitter rampers who are making out that Mambare exploration could be done cheap and easy and an RNS could soon drop to announce exploration is about to start?

You can understand why he thought he got tricked into investing because RGM were making out that two coal mines were about to start production but it never did happen. The NOW RGM PUMP is Mambare, again it seems that gullible PIs are believing that RGM and partners will soon be sinking fortunes into exploring Mambare. RGMs Mambares partners are apparently now a few individuals and neither them nor RGM have the money to explore Mambare. I believe those who are now buying into RGM because they think significant activity at Mambare is about to happen will get disappointed because i believe those PIs will be waiting here, festering away, with little to no activity of importance happening at Mambare. ........................ I've also seen some on twitter making out any Mambare exploration could happen quickly and cheaply but this is Ian Warden who was the former project manager at Mambare. This is what it says on LinkedIN page: ............. PROJECT MANAGER - MAMBARE NICKEL LATERITE JOINT VENTURE Direct Nickel - January 2011 � October 2013 (2 years 10 months)Sydney, Australia "Management of the Mambare nickel laterite project in Papua New Guinea, on behalf of Oro Nickel Ltd, a 50:50 joint venture of Direct Nickel and Regency Mines plc. Delivery of the maiden JORC Mineral Resource Estimate of 162.5Mt at 0.94% nickel 0.09% cobalt, triple the initial exploration target. Planning and on-site management of the 2011-12 exploration program, involving up to 90 staff and contractors in a remote jungle location. Activities included exploration drilling, geophysical surveys, camp and access establishment, as well as management of general logistics, human resources, medical services, community relations, and financial and general administration. Review and consolidation of past exploration results into a global exploration database. Design and implementation technical and management systems and standards" ..................................... He says "involving up to 90 staff and contractors in a remote jungle location". And what he outlines above seems incredibly complicated and incredibly expensive. So again i feel PIs are buying into RGM but i feel nothing of any importance will be happening at Mambare

Regarding the poster formerly known as Cityfan (or Vini). I know he was posting on the LION and PREM thread and glancing through the new posters i would say looking through this posters posts (from Monday and before) http://www.lse.co.uk/member-info.asp?page=1&nick=Covert and i would say i'm 99.9% sure Vini is now the poster "covert" Do those who are familiar with his posting style think it's him?

show. From viewing twitter (i am not a member of twitter) Bell apparently had 3 separate attempts at promoting RRR at the UK investor show. (1) He did an RRR presentaion. (2) He took part in a childish "Dragon den" type game when Bell and other AIM company bosses pitched their companies to pretend a "Dragon den" panel and the panel then decided who was the winner. From viewing twitter Bell did a pitch on RRR but didn't win. (3) He apparently sat on a panel and talked about how a company can make money in Africa. So i'm guessing he again tried to promote RRR when he sat on that panel. By the lack of RRR price action this week i'm suspecting not many who watched live his three UK investor show appearances (plugging RRR) decided to invest in RRR. When those three videos are eventually released i again don't expect a deluge of PIs investing in RRR. I think that because i'm sure an huge number of PIs remember Bell's past (they don't remember it fondly), they foresee the future with Bell at the RRR helm, then they conclude they don't want to invest in RRR. Even AIM Red Rock promoters "Align research" see Bell an huge hindrance to the RRR share price because the other week on twitter they called the then RRR share price a "Bell discount". To me they meant by "Bell discount" that with Bell at the RRR helm you can always buy in cheaper than you otherwise would be able to with a more respected chairman at the RRR helm. Telling PIs you get a "Bell discount" if you buy into RRR is not encouraging PIs to buy into RRR because Align research were letting on that they think Bell hinders the RRR share price. Me and Align research are in agreement on that because i've got no doubt he does. That's why it's so appealing to sack him because with a more able chairman at the RRR helm, who you trust to make wise decisions with the money, then i'm sure this share price would more freely rise.

And Bell may say that the Steelmin deal created an approximate RRR �1.5 million cash surplus but a lot of that surplus was created because RRR repaid back their YA loan from their Jupiter buyback money + the �1 million convertible loan that RRR took out to repay back the YA loan created �1 million of the surplus and if those holding the convertible loan notes don't convert those loan notes into RRR shares by years end then that surplus could turn into a �1 million debt for RRR because they will have to repay back those convertible loan note holders in cash. So in my opinion that cash surplus that Bell brags about is somewhat misleading. .................... And the Colombia deal was in my opinion atrocious for RRR shareholders because when it was announced in May 2014 i remember the RRR share price was around 0.26p-0.27p (price before share consolidation) but when the deal completed around a year later the RRR share price was around 0.07p (price before share consolidation) . In my opinion the price collapsed over that year because Bell hugely diluted shareholders and the Colombia deal got altered on many occasions and the deal got weaker and weaker and so made no impact when it did eventually complete. ............ So i think this praise for Bell lately is totally undeserved because: (1) Bell could've got sacked from RRR three or more years ago and Jupiter would've still have relisted and handed out buyback payments. So the Jupiter money would've still came to RRR without Bell being at the RRR helm. (2) The cash surplus created from Steelmin is misleading because if the 0.80p convertible loan note holders don't convert (into RRR shares) by around the years end then RRR will have to pay back that �1 million convertible loan note debt. (3) These Colombia tranche payments and promissory note payments or meagre Royalty payments never had a positive effect on the RRR share price. And the eventual Colombia deal was atrocious for shareholders; even years after it happened i still think it was. So i think it's totally misleading that Bell's done well lately. Just look over at his other company RGM, especially these past 17 months and see the calamitous events that have happened over here. To me that's the real Bell. PLEASE NOTE: Of course i am not Bell's greatest fan. I think this present money RRR have would be better off with a new dynamic chairman. I am certainly not confident Bell/Kaintz will make good use of it.

Magic, in my opinion they overestimated the ability or the importance of Andrew Bell. I mean if Bell had been released from his job here 2,3 or more years ago, would his release have prevented Jupiter doing buyback payments or prevented Jupiter from relisting? No on both accounts. To finish on a more upbeat note for longtermers of this thread. Vini, Cityfan + many other former aliases, i checked him out last night and i see he's been lifetime banned again. So if a newbie grumpy appears, verbally abusing everyone, then it's most likely him.

To add further: So i guess i'm saying even though Jupiter can still make healthy profits with a lower manganese price, if PIs did see a dropping manganese price it would create the feel bad factor and make some PIs sell or not want to invest in Jupiter.

Magic, i couldn't find the YT links. Onto Jupiter, i think i recall around Jan 2016 the manganese 37% price was around $2.30 per dmtu but when Jupiter relisted the dmtu price was around $7.30. So on relisting the dmtu price was pretty high and that could be an huge future problem because you would think the dmtu price will eventually pull back dramatically and that could be very off putting to investors because i know most investors watch metal prices like hawks and often get dissuaded or encouraged to buy into a company strictly by the rise or fall of the metal price. So even though Jupiter make healthy profits it could be bad luck for them that they relisted when the manganese price was sky high because you would think severe retraction in manganese price will happen eventually.