Member Info for zumore

I'm pretty sure I heard Bell say in an interview that Red Rock purchased some additional Juno shares. I can't point you in the direction of that interview and I don't believe that info was RNSed but I believe he said it.

It says something slightly different (in small print) on pages 23 and 30 of the JMS annual report.

RED ROCKS JUPITER SHAREHOLDING

On page 30 of JMS annual report it says:

"Andrew Bell as the Chairman and Director of Red Rock Resources plc has a relevant interest in RRR Coal plc (RRR). RRR is the beneficial owner of 4,724,914
Ordinary Shares in the Company at balance date"

On page 23 of JMS annual report it says:

"Andrew Bell as the Chairman and Director of RRR Coal plc (RRR). RRR is the beneficial owner of 4,724,914 Ordinary Shares in the Company at the date of this
report"
.......

The RRR website is completely out of date because it says RRR own 23 million JMS shares. I believe when last mentioned in an RRR RNS they held around 15 million JMS shares.

The Red Rock final results RNS said:

"After the year-end, On 6 November 2020, RRR Coal Ltd, a company 100% owned by Red Rock Resources Plc, extended and amended its standby Loan Facility with a maximum drawdown amount of US$2.0 million. The maximum amount drawn down and refinanced under this facility has been US$1.4 million, leaving a balance of US$0.600 million available for drawdown. As security for any funds drawn down, RRR Coal Ltd has agreed to maintaining a value of all the shares in pledged to be equal to one time the amount outstanding on the loan facility as calculated by the value weighted average price for the proceeding five days prior. At the time of completion 6,302,000 shares of Jupiter Mines Ltd and 20,000,000 shares of Power Metal Resources Plc were pledged to the noteholders and a Corporate Guarantee was also executed"
......

So I will assume that the low number of RRR Jupiter shares showing in the JMS annual report is that Andrew Bell has now maxed out the $2 million loan facility and even more JMS shares are secured against that loan.

Of course I may be completely wrong and either RRR or the lenders have now sold those missing JMS shares. Unfortunately we can only make guesses when Andrew Bell doesn't give official RNS updates.

"So this is not a company that makes idle promises, or gives unrealistic timescales"

Oh yes they do! This is the company formerly called Regency mines and the utterly useless (in my opinion) CEO Scott Kaintz has been at this company since 2011. There has been letdown after letdown for PIs in the time he's been at this company. He is also the CEO of CZN and they have been in suspension for over 6 months. Timescales are never kept there.

In July 2020 this company was still called Regency mines and here's Scott giving an interview. None of the timescales he gave in this interview remotely came true.

https://m.youtube.com/watch?v=5UizSb_b1mg

Last link jumpy? This link better: https://www.ampcleanenergy.com/urban-reserve

Urban Reserve are a subsidiary company of a former listed company.

May or may not be of interest but here is their process for looking for new land for battery storage:

https://www.ampcleanenergy.com/urban-reserve/land-required

Mentioned in the final results RNS.

To me it seems AB set up RRR coal limited all so he could get loans on the quiet, then at a later date he sneakily give them a mention in the final results RNSes.

The below extract is from the recent Red Rock final results. Of course we don't yet know if this RRR CEO maxed out the $2 million loan facility:
............

"On 11 April 2019, the Company's 100% owned subsidiary, RRR Coal Ltd, agreed a loan facility of up to US$1.0 million with Riverfort Global Opportunities PCC Ltd and YA II PN Ltd. The terms of the loan call for US$0.400 million to be transferred to the borrower, with additional tranches available to the Company at the lenders' absolute discretion. The notes are secured by 5,500,000 shares in Jupiter Mines Ltd, which were transferred from the Company to the borrowers as well as by a corporate guarantee executed by Red Rock Resources Plc. The Notes carry an interest rate of 10% and come with a 7.5% implementation fee and are repayable over a period ending in April 2020.


On 21 January 2020, the Company's 100% owned subsidiary, RRR Coal Ltd, agreed a final drawdown from the loan facility of up to US$1.0 million with Riverfort Global Opportunities PCC Ltd and YA II PN Ltd of a gross amount of US$0.2 million. The notes remained secured by 5,500,000 shares of Jupiter Mines Ltd, as well as by a corporate guarantee executed by Red Rock Resources Plc. The notes carry an interest rate of 10% and this drawdown carried an implementation fee of US$7,000. All outstanding amounts from all previous drawdowns including this drawdown were refinanced and now became repayable in equal instalments from April 2020 to January 2021.

After the year-end, on 6 November 2020, the Company's 100% owned subsidiary, RRR Coal Ltd, refinanced its existing loan facility with Riverfort Global Opportunities PCC Ltd and YA II PN Ltd, increasing the total amount available for draw-down to US$2.0 million, and drawing down an initial gross amount of US$1.0 million with additional tranches available at the lenders' absolute discretion. The notes are secured on 6,302,000 shares in Jupiter Mines Ltd as well as 20,000,000 shares in Power Metal Resources Plc, which were transferred from the Company to an escrow account for the duration of the loan, as well as by a corporate guarantee executed by Red Rock Resources Plc.

The notes carry an interest rate of 10% and come with a 7.5% implementation fee and are repayable over a six-month period starting in June 2021"

Helpful you should have probably kept that to yourself. I honestly don't think anybody cares if you are buying shares on Sunday.

No offense to Helpful but I think the Ben Turney Matt Lofgran 2015 shareprxphets interview is more informative because Elephant oil Matt Lofgran completely breaks down the structure and obligations for the Benin license.

A few years ago companies formerly called Prospex oil & gas and Paternoster Resources also held shares in Elephant oil. PXOG are now called PXEN and I believe Paternoster are now called RGO. I've looked and I see neither have released RNSes on Elephant oil. So both now probably don't hold.

If you Google "Ben Turney Matt Lofgran" up will pop the 2015 shareprxph"ts Elephant oil interview (written) that Turney did with Lofgran. By the way you will need to log in to shareprxphets.

For those who have no intention of logging in. Elephant oil acquired the Benin licenses in October 2013. They would be for over a 9 year period, broken up into 3 X 3 year blocks. At the end of the first 3 year period they would relinquish 25% of the license area. At the end of the second 3 year period they would relinquish a further 25% of the license area. They were also required to do some drilling during some of those periods but I don't recall them doing the required drilling. So the Elephant oil Benin 9 year license period will end in October 2022.

Red Rocks Elephant oil investment absolutely devastated the Red Rock share price. Red Rock gave E.O some Red Rock shares and they absolutely hammered away selling, pulverising the Red Rock share price. The Elephant oil boss was Matt Lofgran, so I will assume it was him who bludgeoned the Red Rock share price.

Last post I will blame spellcheck. It should have said dredging not drenching.

Lol Helpful that comes across a bit desperate. I mean it must be over half a decade ago Red Rock last talked about the Ivory coast.

Drenching it up from my distant memory. Years ago RRR acquired some Ivory coast exploration licenses from a company called Nemex. Uninterestingly enough some of those licenses included soil samples that Nemex had taken but never tested. Red Rock then took a few more soil samples and then got them all tested and I vaguely recall the results were underwhelming. Then RRR applied for some more Ivory coast licenses but there was never any mention if those licenses were ever successful.

THE AB HANDBOOK.
(1) Announce project
(2) Dream big
(3) Raise big
(4) Keep quiet. You will forget I ever mentioned it.
(5) Repeat.

Fuse I'm sorry. I didn't see that you mentioned SMS.

I must read the other posts before I post in future.

I succumbed and glanced in the SMS March yearly results RNS and I see it says £380,000 build costs per MW. Bear in mind Corcel are a far smaller company than SMS so I'm sure Corcel build costs would be greater.

From SMS RNS:

"Most notably, SMS is now actively operating within the grid-scale battery storage sector.

Grid-scale battery storage technology enables power system operators and utilities to collect energy from the grid (i.e. charge) and then discharge this energy at a later time, when required. It is a critical part of the changing face of the electricity network, becoming a practical alternative to new-build electricity generation or network reinforcement, as it enables greater flexibility to connect larger amounts of renewable energy's intermittent generation. An increased capacity of batteries on the grid will, in many ways, also contribute to a more affordable energy system for consumers.

It is estimated that between 2015 and 2050 the renewables market will grow by 249%, whilst the flexible capacity market, the segment in which battery storage sits, is predicted to grow by 545%. National Grid forecasts a need for c.30GW of electricity storage by 2050 to help reach 'net zero'. With 25 years' experience in the design and delivery of large-scale electrical infrastructure projects and being accredited for design up to 132kV under the National Electricity Registration Scheme (NERS), SMS has the end-to-end capability to originate, design, build and operate grid-scale battery projects.

The economics of this asset class are attractive with an initial EBITDA yield of c.11-14%, and margin of c.75%, against a build cost of c.£380,000 per MW, from an asset whose base electrical infrastructure has an expected life in excess of 40 years (with battery cell replacement around every 10 years). These forecasts are supported by independent industry modelling, both of the revenue and the long-term growth in system demand for the asset class to support the transition to a net-zero electricity network, and are considered to be a conservative baseline. The economic profile of these assets thus provides secure long-term returns after a relatively quick construction phase of typically one year or less.

SMS has two projects, in Burwell and Barnsley, totalling an initial 90MW storage capacity, that will be constructed and are forecast to be energised by the end of 2021. SMS will deliver the projects in their entirety, from initial construction through to ongoing operation, trading, maintenance, and asset management for the 40-year lifespan of the batteries"

Apparently SMS is a listed company. So if somebody cares to delve through their RNSes or presentations (I'm not!) maybe you would probably find the costs to build a 50MW battery storage project in Burwell.

It appears company SMS are motoring ahead with their 50MW project in Burwell, Cambridgeshire:

https://www.sms-plc.com/insights/blogs-news/sms-begins-construction-of-90mw-grid-scale-battery-storage-projects/

And here is a March 2021 one minute Burwell progress video:

https://m.youtube.com/watch?v=GET4G_J6QMA

Last year Corcel gave project timelines. Click on photo in link and you can see Burwell was supposed to have been constructed by now.

https://mobile.twitter.com/VipassanaTrades/status/1298194036541591559

I know people mention Parsons but Corcel CEO Scott Kaintz also has an appalling reputation. He's been at this company (formerly called RGM) for around 10 years and all those former disasters partially belong to him. Scott is also CEO of Curzon energy (CZN) and they have been in in suspension for around 6 months.

Scott along with James are shockers. I'm flabbergasted how must trust and belief some PIs have in this management.

Look at HELPFUL desperately trying to bury Soleboy's post. :)

Soleboy, I've seen many say something similar to what you say about this RRR boss. He is an absolute disgrace!

AB is also boring at writing RNSes. So boring at interviews + boring at writing RNSes. So on the promotional front what hope is there?

I always remember Red Rocks 2019 final results RNS. Start reading it and if anyone isn't bored stiff after a few paragraphs then i'd be amazed:

https://www.lse.co.uk/rns/RRR/final-results-37mjmbcq2w19q5b.html

No I wasn't mistaken you were definitely trying to MISLEAD with your 11.58 post. This is how you interpreted that report in your 11.58 post:

"So they are reckoning that RRAL is worth between £7mil and £25mil. So they reckon RRAL is worth between £3.5mil and £12.5mil to RRR"
...

You full well KNOW if RRAL were a listed company on the TSX and had a £25 million market cap, then by that stage Red Rock Resources would not be holding 50% in RRAL's shares. So you were MISLEADING by saying if RRAL did have a £25 million market cap then that would be worth £12.5 million to Red Rock Resources.

In just this past week you have also said:

"FYI a bit of fluff for you. I think that there is speculation in Oz that JMS is going to receive a bid pretty soon. Now that would be interesting for RRR"

"RRAL is on with its IPO probably early June"

Yes yes you are desperately trying to pump RRR so you'll say anything to promote RRR. You even have the audacity to outlandishly try to convince posters that AB is doing well at Red Rock. To most he is doing awful. He is rubbish at promoting the company. Yes AB got the licenses renewed in Kenya but he attracted no new partner and since licenses were renewed it has turned into a financial burden for Red Rock with $2.5 million already paid to former partner Kansai + Kansai have an additional $1 million promissory note that can be cashed in February 2022. So because AB attracted no new Kenyan partner that means Red Rock will now have the burden of paying 100% of exploration costs. So does AB really deserve praise on Kenya? In my opinion no he doesn't.

Also Red Rock own POW shares. Yes they are in big profit. The problem is AB is also POW chairman and so he is unlikely to ever bank profits for Red Rock by selling POW shares. So Bell clearly has a massive conflict of interest. So no praise for Bell on that front either.

You know you have an awful CEO/Chairman when most PIs dread him promoting the company with his tedious interviews. When I watch AB do interviews, yes RRR have assets, but during the tedious interview AB sucks the life out of those assets, after the interview you feel deflated with little hope remaining. In my opinion he is absolutely atrocious!