Member Info for zumore

"But any further repayments will equal to $924k owed." ........... Yes Booboo i misread that earlier but you are correct. Because if RGM wanted repay the remaining $770,000 YA loan in one big payment then like you say they would have to pay $770,000 + they would incur a $154,000 20% prepayment fee = So they would have to pay $924,000 to pay the debt in one cash payment.

In the Harry interview with Bell the other day (although muffled sound) i'm sure Bell said no more money would be going towards the coal assets that have already been announced. So from that i conclude that the money sunk into the likes of Rosa was wasted money and not another penny will be going into it. But in the same interview he did say that the people (Legacy hill) he introduced to his partners (moscicki) are methodically going through things and they may come up with things bigger. So from that i conclude that Bell hasn't ruled out sinking more RGM shareholders money into something new but he won't be sinking any more into the already announced coal assets. I know the Bell fanboys/girls won't like this but absolutely atrocious due dilligence by Bell. It's no good that Bell belatedly learns that Moscicki is useless after he's already sunk millions into the Moscicki coal assets. Of course with correct due dilligence he could've avoided handing over a single penny to Moscicki. The most obvious due dilligence Bell could've done beforehand would've been contacting people from the ASMC who were familiar with Rosa and asking them whether the highwaller was a goer at Rosa and what the obstacles would be in restarting production at Rosa. It seems obvious he hadn't bother to do that simple thing ^^ which of course is shockingly negligent.

Yes booboo you are correct. I was slightly wrong earlier when i said $164,000. If RGM paid on Monday the remaining $770,000 YA debt (in cash) they'd get a $154,000 20% prepayment charge. But of course if they didn't pay that $154,000 that would also rack up interest. But lol if RGM also made paid the $154,000 in cash then that would also get a 20% prepayment charge. :)

the purpose of the $1 million YA loan was to pay off old YA debts and for the coal USA projects. Having finally listened to both interviews the other day the USA coal projects look bleak and so that money raised from the YA loan (and all those other loans) for the US coal now looks like wasted money. So terrible!

Hi Magic And this part from the original YA rns "Regency Mines plc announces that it has raised an unsecured US$1,000,000 ($900,000 net of fee) one year convertible loan bearing interest at 12% (the "Loan")." .......... Now i take the "$900,000 net of fee" to mean that when commision of setting up the loan and other fees were taken out of the $1 million loan RGM would've received $900,000. Which of course would mean RGM would still owe the full $1 million. So i think with the 12% interest (interest would rack up at 1% a month) + of course the 20% $70,000 prepayment fee on the $350,000 prepayment, then i'm pretty confident RGM still owe YA $770,000. And of course 1% interest is still be racking up: so around $7,700 a month added onto the debt. With this $1 million YA loan the RGM chairman basically took out a brutal Wonga type loan: (1) $100,000 initial fees (2) plus beginning of September this loan had gained around $50,000 interest. (3) plus the whopping $70,000 fee on the $350,000 prepayment. (4) plus of course 10% below market price when they convert. Of course RGM could maybe cash in their remaining UKOG shares and if they have enough they may try to make a full $770,000 repayment on the YA debt: the problem with that of course is that would incur a 20% $164,000 prepayment charge, I know some have been praising AB for this $350,000 YA payment but by gum what a brutal brutal loan he took out.

Lol we are all coming to different figures of how much RGM still owe YA: I say they still owe YA $770,000. :) The original YA $1million loan rns says the loan was subject to 12% interest and so 1% interest a month would be $10,000 a month on a $1 million loan. So 5 months since the loan so $50,000 interest: so the $1million loan went up to $1,050,000 after 5 month. Now in the original YA loan rns point (d) is very important: "d)   If the price of Shares is below the Fixed Conversion Price Regency may prepay subject to a pre-payment fee equal to 20 per cent. of any amount prepaid." .... Now to me that point (d) means if RGM prepay $350,000 then they have to pay a $70,000 20% pre-payment fee. So after 5 months I say RGM owed YA $1,050,000. They prepaid $350,000, so that leaves $700,000 debt. But prepaying $350,000 incurred a 20% $70,000 pre-payment fee. So because of that I say RGM still owe YA $770,000

that RGM don't release an RNS to specify the exact amount that they are paying off on the YA loan from the recent UKOG money. Mr Bell hinted in the Harry interview that's what he will be doing with the UKOG money and so surely a formal RNS should be released to say how much of the YA loan RGM will be paying? I must admit these days I get somewhat baffled why some company information isn't released by an official RNS. You would on the surface think if RGM are paying some of their $1million YA with their UKOG money then that must be told to PIs by an official RNS.

From the limited amount I've heard from Harry's interview it as somewhat ruined one of my repeat posts I was going to do because I was going to repeat one of my older posts and say with all this recent UKOG money coming to RGM then maybe it would be a good time for the RGM chairman to step down and let a new chairman use that money to expand the company. But I can't repeat that older post because from what I heard in the Harry interview Andrew Bell said he's already spent the UKOG money.

https://mobile.twitter.com/SHARES_FTSE_AIM/status/904781837070999554?p=v ........ Like I said my mobile signal is bad at present but I struggled through 10 minutes of Harry's interview before the signal went and it seems Mr Bells already spent the UKOG money because he said the money was for Curzon IPO and paying off the YA loan. Though how much of the loan I don't know? Anybody hear what he said about the coal?

I can't hear it at the moment because I'm at present on my mobile so weak signal. For anybody who listened were questions asked about the coal? If they were was Mr Bell evasive and shifty with his replies?

Firstly to point out to people we can talk about RRR on this thread because RGM have some shares in RRR. To your question BooBoo. What's fascinating is if you read the JMS hotcopper thread these past couple of months virtually no Jupiter shareholder believes a Tshipi sale will happen or Jupiter will relist anytime soon. Most just want the buyback payments to continue and happy with that. But if you read twitter or the UK threads lots of RRR shareholders believe a Tshipi sale is near or if not that Jupiter will relist. So it is fascinating with the hugely contrasting views of the RRR shareholders and the Jupiter shareholders. Though of course Jupiter shareholders will be delighted with continued buyback payments because it will go directly into their pockets on the other hand buyback payments for RRR goes directly to RRR and RRR shareholders don't see a penny of the buyback payments. To be honest I'm siding more with the Jupiter shareholders beliefs about no Tshipi sale or relisting.

For the RRR AGM I'm expecting RRR to seek permission to have the ability to issue billions of RRR shares during 2018. If they do seek that permission then that tells me RRR will have and eye on paying off some of the colossal RRR YA loan by giving YA shares and diluting RRR shareholders into oblivion. So for the RRR AGM I'll be fascinated to see if they want the permission to be able to issue an unusually high amount of RRR shares during 2018.

Greets, you forget that between Dec 2016 and May 2017 the RGM chairman acquired approximately £2.3 million through placings, warrants, YA loan, he sunk an huge amount of that money into the coal investments and that huge amount of money was probably wasted on those coal investments with Stephen Moscicki. So it looks like atrocious money squandering by the RGM chairman. So yes heap praise on the RGM chairman for cashing in the UKOG shares but now he's got to decide what he invests the money in. Let's see if he is wiser using this money.

"Useless Bell does it again. That idiot bell makes same mistake he made yesterday. 348% profit this time putting another £416k in the bank. Still £500k of UKOG shares riding waiting for news on flow rates. No wonder the persistent bashers keep knocking him" ................ Yes very amusing Greets but a point about the so called "persistent bashers". On the coal front the "persistent bashers" were far more accurate than the "persistent rampers". "Persistent bashers" did their research, delved into the old permits, researched previous operators, contacted people in the know, they spotted huge flaws and realised things weren't going to be as easy as RGM were saying; on the other hand "persistent rampers" were telling people to ignore what the "persistent bashers" were saying because they were scaremongering, the "persistent rampers" said that everything was going smoothly, the production at Rosa would begin March/April, the HIGHWALLER would be used and RGM alone could be raking in from Rosa over £25k a day. Of course the "persistent rampers" were woefully wrong about Rosa and the "persistent bashers" were very right Rosa. So just remember you and other rampers were incredibly wrong about the coal and the so called "persistent bashers" were incredibly right about the coal.

"Zumore. Do you think Bell is privy to any operational aspects of UKog at Bb-1?" ............. No. He's said in the past that when any horse hill news is released RGM are only informed immediately prior. So that tallies up with what MTR said in their RNS today that they are only told important news releases by their JV partner MOD prior to when MOD inform the market. So considering that RGM are only simple shareholders in UKOG I don't see why Bell would get any inside BB scoop. To me yesterday and today RGM selling UKOG shares is just simply Bell wisely banking the huge profits that they've gained from their UKOG shares. I would personally sell the rest because best not to get too greedy.

At last Mr Bell has partially done what I wanted him to do because he's quickly selling the UKOG shares. From a gambling point of view it's the correct decision because on one hand some are saying if Flow tests go well the UKOG share price could hit 15p but if flow tests go badly then the UKOG price could drop back to 1p. So if RGM hadn't sold any UKOG shares then with good flow tests their UKOG shares could have been worth about £2.6 million but if bad flow test results happened and the UKOG price collapsed to 1p then the unsold 17.3 million UKOG shares would've been worth a miserable £173,000. So for a tiny company like RGM the downside risks were too great. So I would say definitely the correct decision to sell. Though whether the chairman will make wise investment decisions with the UKOG money: I am not confident he will.

And of course because most rampers when pumping usually wrongly say RGM already have a 10% stake in Curzon, then it could get kind of confusing if this UKOG share sale money is actually used to take RGM up to a actual 10% stakeholder in Curzon. The pumpers will say "Great. Now RGM have a 10% in Curzon". Others will say "but didn't you say previously we had 10% in Curzon". Pumpers respond "yes but this is now a REAL 10%".

Like I said the other day normally the chairman would be doing interviews with share-talk or mining maven and so it'll be interesting if he avoids doing any interviews. My hunch is that because he won't want to talk about the coal then he'll side step the interviews. Of course if he does side step interviews then pretty lousy promotion by him; of course doubly so considering that he put out Thursdays rns out after hours. You would've thought he could've waited and released it at 7am on Friday.

Those who receive the "mugs list" will be rubbing their hands with glee that a repeat customer could soon be coming into money.

"York can't have that many more shares to dump onto the market" .......... I'm assuming they haven't dumped any yet because we've had no announcements. Because it says they can only convert a max of $200,000 a month and they are doing it by VWAP then I'm assuming they would announce the new VWAP price every time they convert.