Member Info for zumore

Yes ok Cgull i will take back what i said about Hamilton. They are not alike. Here's a mid 90s story on Hamilton. I vaguely remember it. The cash for questions scandal: https://www.theguardian.com/politics/1996/oct/01/conservatives.uk

Yes RRR may have a little money but AB + Kaintz have dreadful reputations in quickly squandering the company money and so them having any money i don't think is going to entice too many PIs to invest in RRR. Of course some will say "but it's better than having no company money" but it's Andrew Bell and Scott Kaintz who have got it. Some have said to me in the past that i'm overly harsh on Andrew but i'm not. I just think it's so unenticing for PIs that he is at the helm because (in my opinion) his past reputation at RRR stinks. If i were to liken AB to a politician i would liken him to somebody like Neil Hamilton: like Hamilton he has no gravitas, like Hamilton he is seen by many as an absolute joke, a laughing stock, so why would people invest in RRR when he's running the company? Over at RGM him and Kaintz have had around �6 million (through placings, CLNs, UKOG + ALBA money) these past 16 months and apart from a few ALBA and Curzon energy shares virtually all that moneys gone, so come the RRR half yearly report this time next year i bet virtually no money will be left and Bell will be moaning that we are in tough times in this present cycle. Of course to add some balance to my post, i know a few out there adore Bell (you know who you are) and they think some ftse100 company will eventually snap him up . PS: By the way that last paragraph was my idea of an April fools joke. :)

research earlier in the week :) "Results noted from Red Rock Res #RRR this morning, We have made suggestion to Andrew Bell re Jupiter Mines distribution in specie to shareholders and a special divi. That would close the NAV discount massively in our opinion. @armcmb" https://twitter.com/AlignResearch/status/978174916234301440 AB must've went into a cold sweat when he saw that because his armcmb twitter account quickly disappeared when that tweet was directed towards him. :)

MrMagic one final point to try to convince you that the RRR bigger CLN holders would never convert around this price. Let's take a flight of imagination and pretend i had �100,000 of the RRR CLNs and today i think it's a good idea to convert all my �100,000 CLNs into RRR shares. And today i go about trying to realise a profit on my newly converted 0.80p RRR shares. How many do you think i could offload into the market before the RRR sell price starts to dip under 0.80p? I reckon probably �20-�30,000 of persistent selling before the RRR sell price goes under 0.80p. Then i would be lumbered with �70-�80,000 of newly converted RRR shares and i would know any more persistent selling by me would be likely to result in me making big losses. Of course the likes of Okenia would be calling me an idiot and telling me i should have waited for a much higher share price before i considered converting my CLNs and that way i would've had lots of headroom to make a profit. So in no way would the bigger CLN holders consider converting at this price. Not a chance of that. ....... And because the CLN holders are under no obligation to convert any of their CLNs, then obviously around �1 million of Red Rock's present liabilities will be the approx �1 million they owe to the CLN holders. Like i said last night when the conversion period expires and if lots of the CLN holders haven't converted then Red Rock will need to find the money to repay them. I guess that would be a nightmare scenario for Bell and Kaintz because i'm sure they are desperately hoping that all CLN holders convert their CLNs in RRR shares and then RRR will no longer owe that money.

said he took part in the RRR CLNs . He posted this when they were first announced on 10th November 2017: "The loan notes are a good each way bet for the loan note holders. If the SP doesn't move then they hold the loan notes for 14 months and take the redemption. If the SP does move then they convert the loan notes and either hold or sell. With the warrants nearly the same applies either they let the warrants expire or they exercise them. It is not rocket science." .......................................... So obviously no obligation for any CLN holder to convert. So i would imagine some of the bigger CLN holders may just do nothing with them and instead let RRR pay them back (with interest) at the end of the 12-14 months.

Sorry MrMagic i didn't see your 21.57 post. The CLN holders are under no obligation to convert. So if lots of CLN holders decide not to convert then RRR will simply have to repay them their loans. I guess RRR would do that either by cash or by doing a placing to pay them. So if the DRC deal does happen and the DRC sellers get a ton of 0.65p RRR shares then that could drag down the price to 0.65p: obviously the CLN holders wouldn't dream of converting. Also the manganese price could collapse and the RRR price plummets. Also Steelmin could turn out to be a damp squib. Also the annual results in November may show the RRR money's been squandered and that collapses the RRR share price. So i'm not convinced much CLN conversion will happen because i'm not convinced this RRR share price will remain this high.

Looking back on this thread you seem to be thinking that most of the 0.80p CLNs will be converted. If you don't mind me asking why do you think that? Let's suppose you held �100,000 in these 0.80p CLNs what RRR share price would you feel comfortable converting your CLNs into RRR shares? I'd suggest you wouldn't convert them when the RRR share price was 0.90p or 1p because it would be too risky. So i would say you would only consider converting them at 1.20p and above. So because you seem to saying they will get converted you must be thinking this RRR share price is going to rise drastically higher so the CLN holders feel comfortable in converting?

Ok Maestro, we are all entitled to our opinion but unlike you i think the CLN conversions are not absolutely guaranteed to be converted because with this RRR CLN the conversion price is a non budging set in stone conversion price of 0.80p; but mostly with CLNs the loan company (for example YA) would get something like a 10-15% discount on whatever the share price is when they decide to convert. So Red Rock's set in stone conversion price structure makes the conversions much less likely.

I'm sure he wouldn't risk converting his 0.80p CLNs around this price. I personally think he'll be quite happy to do nothing with them and just let RRR repay him back his �290,000 + 10% interest in December.

"Like you say �1m of cln, this will eventually get converted in shares at the time of expiry. RRR will not have to pay anything" ......... If the price persists around this price I would think it would be highly unlikely that many 0.80p cln holders would be converting. If I were a 0.80p cln holder I'd probably just play it safe and collect the interest and not convert and then let RRR repay me back at the end of the 12 months.

Yes you may be right MrMagic. It did cross my mind that because Jupiter are relisting then his fellow JMS directors may not appreciate some of his tweets. Lots of companies don't let employees do controversial tweets because they think it can reflect badly on the company. I actually agree with that viewpoint. So he may be doing some housekeeping because he doesn't want to jeopardise his beloved Jupiter position.

It looks like Andrew may have got himself banned from twitter: https://twitter.com/armcmb It's now the third day since his personal twitter account has disappeared. I cannot believe his often controversial tweets were helping the RRR or RGM share prices. So in my opinion very good news for both companies shareholders.

Hello Vini. To be honest I think the best thing for RRR shareholders would be to quickly remove Bell and Kaintz from their positions at RRR. My opinion is Kaintz and Bell are the reason many PIs wouldnt invest in RRR and so why would shareholders want to keep them when they are holding back the share price?

for the newer RRR shareholders but from my observations many seasoned AIM investors will no longer invest in an Andrew Bell run company: they just don't rate him or his sidekicks abilities. RRR have a small investment in Bell's other company RGM and its pretty shambolic how that's being run (in my opinion). I say that because since December 2016 (so around 16 months) the bosses at RGM have had around �6 million (that's through placings, CLNs, warrants, selling HHDL shares) but its pretty much all been squandered (apart from a few Curzon energy shares + maybe some ALBA shares) . I think RGM is a good example of how quickly Bell and Kaintz can squander an huge amount of money. So I wouldn't be surprised if the present money at RRR also gets quickly squandered.

Yes it was over at RRR and his name was Daniel Sklan. The amazing thing about Daniel that may shock some present big shareholders is that Daniel didn't ramp RRR and he bought all his RRR shares on the open market (so not in placings). I recall him saying when he had around 100 million RRR shares that his then average was around 0.50p. So that was around �500,000. Then if i recall correctly i think he went up to holding 252 million RRR shares and so by that stage he probably had invested around a �million. Of course he held those before RRR did a share consolidation but by the time of the share consolidation the RRR share price was around 0.02p, so long before the consolidation his huge investment had been decimated. Of course these days he unsurprisingly doesn't rate AB's abilities. ............................... You are like me booboo, you don't bear grudges against the rampers. Yes Paul and Stephen used to shamelessly ramp RGM but they are well and truly stuck in RGM and they both need a major miracle to escape from RGM without major losses. So i personally don't feel bad to either of them. Paul's huge mistake is that he got dewy eyed when he remembered investing in RGM or RRR many years ago and back then he made profits that helped him pay off his mortgage. So his mind obviously played tricks on him and he overestimated ABs meagre abilities. So no doubt he piled in thinking he'd do a repeat. Obviously that hasn't happened. Don't know about Gary but Ken occasionally posts on here as Orion.

Yes I'm sorry booboo, that's wasn't a real quote, it was just me imagining what Andrew or Scott would be thinking. So forget about that untrue quote And I rule nothing out about the missing �600,000. Its seems to have vanished. I mean on 29 November 2017 RGM received �315,000 cash from ALBA yet on 31 December 2017 RGM had left around �38,000. So maybe some lavish Christmas party? or maybe they did give themselves big bonuses. Of course I'm only guessing but it is confusing where all that money disappeared.

i see you earlier mentioned "friend of this thread" Stephen Pearce. Now Stephen is obviously quite savvy with shares because he's made a fortune out of investing in them but on this occasion he seems pretty naive about this chairman and to be honest pretty gullible. In May 2017 he took part in an RGM placing and he thought his investment money would help bring a second coal mine speedily into coal production but that didn't happen. Likewise in January 2018 he heftily took part in the �1,050,000 placing and from reading his old tweets he thought some of his money would be quickly used to do some Mambare exploration but that hasn't happened. I actually quite like Stephen so it's not nice to see him time and time again being treated like a gullible mug. "When the next placing happens we know who we can call to give us a nice amount of money, good old Stephen"

said by 31st December 2017 (so in the second half of 2017) the money from the HHDL share sale had generated �1,719,126. But looking through the RGM RNS's the only outgoings i can see are: (1) 8th Sept RNS: RGM repaid $350,000 (or approx �250,000) off their YA loan. (2) 28th Sept RNS: RGM invested a further �400,000 in the Curzon IPO. (3)24th Nov RNS: RGM paid a �34,800 refundable advance so they could do due diligence on Moscicki's CMC (4)22 Dec RNS: RGM invested �200,000 in White car ltd. (5) 23rd March 2018 RNS: RGMs "Administrative expenses" from 1st July 2018 to 31st Dec 2018 were �257,515. All those outgoings total �1,142,315. Yet yesterdays RNS said "cash and equivalents" for RGM on 31st December was only �38,473. So according to my calculations approximately �540,000 seems to have vanished. Where's it gone?

Yes �1,050,000 + a further �100,000 in a teathers app placing. Out of that �630,000 was used to repay YA and �200,000 was to make a further investment in White car. Of course on top of the that is the monthly costs of running RGM. And in the �1,050,000 placing RNS it didn't mention fees but you would think RGM were charged hefty fees to do the placing. So you can't imagine too much money would be left.

Thanks Okenia but help me further. Yesterdays RNS said "cash and cash equivalents" by 31st December 2017 was �38,473. So from your understanding that means RGM had only �38,473 in cash by 31st December 2017?