Member Info for zumore

Would you mind if I ask you a question? What impresses you about the Red Rock chairman Mr Bell? Many thanks Zumore

Hello Briarbank. That's fascinating. Can you imagine if Steelmin ever listed and then no matter how many fundraises and shares Steelmin issued, RRR would always stay at a 22% stake in Steelmin? I'm not saying you've been given duff information but it does seem a bit far fetched. You would think if it were true then Mr Bell would've mentioned that very important clause in an RNS. PS: I say 22% because let's be optimistic (though i'm not personally optimistic) and assume Steelmin do repay in days.

Maestro, Mr Magic and another poster (who's name slips my memory) brought up an interesting point the other week. It was about what Mr Bell said in the 18th Jan Steelmin loan repayment RNS when Mr Bell said: "Following Loan repayment Red Rock would be left with a diluted 21% of the share capital of Steelmin, which would increase to 22% on 1 February 2018 should the Loan not be repaid by that time" .................... Now "diluted" means "watered down". So let's switch the word "diluted" for "watered down" "Following Loan repayment Red Rock would be left with a watered down 21% of the share capital of Steelmin, which would increase to 22% on 1 February 2018 should the Loan not be repaid by that time" ......... So if Steelmin do manage to raise an huge amount of money to repay all their lenders back + raise money so they can complete work at the plant, then you would think it highly likely that all present shareholders will get there present percentage in the company watered down. So i wonder what percentage in the Steelmin company RRR would have left if Steelmin do manage to do a big fundraise? PS: I know it's an impossible question to answer, so no need to attempt the answer.

Maestro and you want Steelmin to pay it in one payment. Believe me spread out over many payments wouldn't be in the best interests of RRR shareholders because from past experience (like El Limon gold mine sale) when RRR get paid in installments it does nothing for the RRR share price. So like i say for the best interests of RRR shareholders Steelmin need to repay back RRR in one chunky payment. Fingers crossed. GL.

is what Bell would like in an ideal world: which means he would like the RRR share price to go sufficiently high enough so all the CLN holders would convert their CLNs into RRR shares. Of course in a non ideal world the RRR share price wouldn't get high enough to tempt the CLN holders to convert and so instead they would wait until the CLN conversion dates elapsed and then RRR would have to pay them back (probably with a fundraise) along with the CLNs 10% interest. So Bell wouldn't have that much surplus unless all the CLN holders convert. By the way could "helpful" or preferably Stephen Pearce (because Stephen is more friendly) answer this CLN question. Quite simply, if this share price miraculously spiked to 1.50p then how quickly could the CLN holders convert their CLNs into RRR shares? Could they convert in minutes or hours or would it take days to convert their CLNs into shares? Of course if it was minutes or hours a CLN holder could quickly take advantage of a spike; conversely if it took days to convert CLNs into RRR shares then a CLN holder probably wouldn't risk converting.

reading it again I can see how some may have misread that post. So I'll start that post again .... Chin up guys, ladies The RNS may drop tomorrow morning. And if not tomorrow then maybe a valentines day special (to show how much he loves his shareholders)

Mr Bell's third week on holiday in Africa?

It may drop tomorrow morning.

Who knows i may be proven absolutely wrong and maybe today we could get an after hours blockbuster RNS?

"Thats a very well made point Zumore,RGM can't get hold of /release equity on their assets until May time making it almost impossible to plan a PNG Mambare program by then, given that the dry season window will have well and truely started , As you have correctly pointed out RGM are a 2 man team with no mining expertise behind them to contribute towards being a meaningful JV partner on the coal front(although you could argue on any front). In fact the only thing they are good at it would appear is stringing investors along (dream selling) some of which should know better" ............. ^^^^ I agree with everything in this post Booboo.

"Dealings are expected to commence at 8.00 a.m. on or around 12 February 2018" ................. Booboo i'm sure many of those placing participants are wondering why they did it because on the surface this present �4 million Mcap looks grossly overvalued. RGM INVESTMENTS/ ASSETS (1) Approx �600,000 in Curzon energy shares (2) Approx �280,000 in Alba minerals shares (3) �200,000 investment in unlisted car hire firm 'White car limited' (4) A now tiny investment in failed company DNI (5) RGM have a 50% stake in Mambare Nickel/cobalt asset in Papua new guinea. The last time any exploration happened at Mambare was way back in 2011 (yes 7 years ago) (6) They have some investments in some Stephen Moscicki companies. A few months back Moscicki offered to sell RGM his remaining 80% stake in his carbon minerals company for �250,000: which meant Moscicki presumably thought RGMs 20% stake in Carbon minerals was worth �62,500. So with uncertainty of how much cash RGM still have then it would take an optimist to believe that RGMs investments assets total anywhere near the present �4 million Mcap. The true value of RGMs Moscicki investments could be near worthless. Likewise how much value do you give to a dormant barely explored Mambare asset that was last explored 7 years ago? Bare in mind at the back end of 2015 RGM had an Mcap of �400,000 and so back then Mambare was obviously valued near worthless. Little has changed since then except the nickel and cobalt price has gone up a bit. Certainly looks overvalued to me.

Hi Booboo, his value generation company took �75,000 in the �1 million fundraise but because so many new shares were issued i'd suspect (because of the dilution) that he and his wife would directly/indirectly hold way less than 8% here now. I've not looked at the CZN prospectus lately but off the top of my head RGM agreed not to sell for a year but they could ask for permission to sell after 6 months. I also recall it being a 6 month selling restriction with RGMs remaining �300,000 or so shares in ALBA . Again i recall Stephen confirming that RGM had the ability to fundraise with the maximum of around 93 million new shares + 93 million warrants. So what would that be at todays prices less than half a million? That's not a lot. From my observations it seems bringing coal mines into production actually costs many millions and so Moscicki was kidding Bell/kaintz and in turn Bell was lying to PIs when it was made out a coal mine could be brought into production on very little money. If Bell/Kaintz had done some due dilligence they would have known this and thus avoided sinking all that money into Moscicki's companies.

"I can't keep up with this,can anyone remember how much money in the bank RGM now have post debt etc" ........... I'm clueless booboo. But i'm very doubtful there is much company money. Of course it would be good if RGM released an RNS to update PIs on how much company cash they have. Of course that won't happen. On the money front RGM need vast sums for any meaningful Mambare exploration. Likewise i'm somewhat confused why Legacy hill would want to partner RGM in any coal project because RGM wouldn't be the operators in any coal project and i doubt they would have the money power to fund any coal mine to come into production. So what would the appeal of having a useless deadweight like RGM being their partners? RGM seem to have nothing to offer. Though no doubt later in the year RGM will offload their CZN and ALBA shares but i would see that money used to support company running costs/wages and probably later in the year another investment in the car rental firm 'White car'. So i'm in total agreement with you Booboo that i expect nothing meaningful to happen with Mambare or the coal and the main focus for RGM this year will be the White car rental investment. By the way Booboo PJs Value generation company took �75,000 in the recent placing.

"Mm,arnt trolls people who attack people personally.take a look in the mirror .most who shout trolls exhibit the key attributes" .............. Absolutely right Seingred. These people who target other posters by name calling them and laughing at their losses are the trolls. On the other hand these people who these trolls attack are doing nothing wrong, they stick to lse forum rules by keeping on topic, on lse forum the posters are allowed to give company views from either "strong buy opinion" all the way to "strong sell opinion". These posters who these trolls attack do this. My observation over the years are that the posters who usually get banned are the posters who like attacking fellow posters. On numerous occasions i've seen "Helpful" beginning threads with "Mr Tragic" in the title and i think it's only a matter of time before this trollish behaviour gets this poster banned. Likewise "Kabaa" has got an obsession with MrM and is always searching through Magic's post history and attacking him: his basic purpose for being on the forum is to target and attack Mr Magic and so again i think eventually his trollish behaviour will get him banned. Many more examples from obviously "city fan" all the way to "Graphite Tech" who is also getting an obsession with Mr Magic and he nastliy attacks him by saying he's got a mental illness and laughing at his losses by telling MrM that he should get a job in Mcdonalds to retrieve his losses back. So absolutely trollish behaviour. On the other hand the posters that these trolls attack stick to lse forum rules by discussing the companies.

Booboo ok thanks for that. By the way Cgull is not Seagull from ADVFN. Pretty sure i know what ADVFN Seagull's lse name is but i won't say it (though i will say i think it begins with A) And i'm clueless what price RGM finished today. Here they say RGM finished level. HL say RGM finished 4.76% up. And MoneyAM says RGM finished 9.52% down.

Hi Booboo To be honest i've cut down my posts down here because i think it looks truly dreadful here. As you've highlighted on many occasions the prospects at Mambare look dire. I think a good example of how little Mambare is worth is to compare it with HZMs recent Vermehlo Nickel/cobalt purchase. Mining giants VALE sold them Vermelho for $8 million, with $2 million upfront and i believe they pay the other $6 million if they (HZM) take Vermelho to commercial production. Now from my observations Vermelho looks light years more advanced than Mambare. The HZM boss said Vermelho had upwards of $200 million already spent on it, with over 152,000 metres of drilling at Vermehlo. It's also in a great mining district in Brazil with excellent surrounding infrastructure. Now let's look at Mambare. It's in Papua new guinea and it seems to be off a beaten path with no infrastructure. In two drills in 2008 and 2011 around a total of 7500 metres was drilled. Looking at old RNSs it costs RGM and partners around �2 million to drill 4000 metres at Mambare. So RGM and partners could (if money was no object) spend another �10 million drilling 20,000 metres at Mambare and they would've still have only drilled 27,500 metres at Mambare (compared to Vermehlo's 152,000 metres). So if mining giants Vale sell Vermelho for $8 million how much would they have sold the Mambare asset for if they had owned that? Taking into account where it is in the world + how little it had been explored (around 7500 metres of drilling) you would think they would value it near worthless and therefore probably relinquished the asset. So in my opinion it's a near worthless asset that would cost millions to explore and so i very much doubt RGM will be wasting any great amount of money on it this year. Of course all in my opinion. I;m sure others have more optimistic opinions.

Thread starter on the other site (that i will not mention) made me chuckle today. For years he used to give a brief summary of RGM and say something like "it's all about Mambare" Then when the RGM coal empire begun at the end of 2016/2017 he switched it to something like "it's no longer about Mambare it's all about the COAL" But today when i looked he's rubbed all that out and summarized RGM by saying: "THE DILUTION SPECIALISTS Enticing investors to part with their cash since admission If you want a company with a history of raising capital but delivering very little, Regency is a sound investment choice" ................ LOL he's quite right. Bell/Kaintz have had around �5 million or so this past 14 months or so and all they've delivered to PIs is misery. And let's be honest this mcap is a few million overpriced and it's absolutely hopeless here.

Here's another pic: https://twitter.com/Boardo65/status/960548293154623489

So last post should've said: "because the 18th Jan RNS said Steelmin were looking to raise a lot of money to pay off RRR then if it turns out Steelmin are unable to raise that money then that will be an huge hammer blow for everyone"

"Amazing opportunity for buyers at these levels" ......... I wouldn't go that far because it's incredibly risky here at the moment because if Steelmin don't soon repay RRR their loan then RRR will undoubtedly have to do another fundraise to make their next YA repayment. Also because the 18th Jan RNS said Steelmin were looking to raise a lot of money to pay off RRR then if it turns out Steelmin are unable to raise that money then that will be an huge hammer for everyone. On the bright side if Steelmin do soon repay RRR all their loan then i can see a nice rise.