Member Info for zumore

Topsharepicks, are you talking to yourself when you talk to Suhail?

Unbelievably you have 850 posts this past 30 days and Suhail has over 600 posts these past 30 days. LOL people used to say I posted excessively when I made 50 posts in 30 days.

You do realise RGM still haven't had the Mambare exploration license renewed? It was supposed to have been renewed in June.

It's very doubtful. Though to put a positive spin on it the share price will rise when RGM next do a share consolidation.

It just looks dire here: RGM are millions in debt caused by incompetence by the useless RGM management (Bell & kaintz) + i believe they are lying about doing any exploration at Mambare this year because (a) they have no money (b) the long Papua new guinea rainy season kicks in from around December to April (c) one of RGMs last rnses said they have still not got Mambare exploration licenses renewed (bare in mind these were supposed to be renewed in June). So knowing that RGM management like to bury bad news so it's highly likely they've lost the licenses but they aren't telling shareholders.

This dreadful company should just delist: you are unlikely to find a worst company on AIM.

Lol booboo! Gordon Bennett is Luke1.

Poor Luke1 and Stephen. Both hundreds of thousands down. That's what you get when you believe everything Andrew and Scott tell you.

Here's a comedy presentation with Andrew Bell and Scott Kaintz from March 2018: https://www.youtube.com/watch?v=eC3EWHcU2ug . Both talked about having around £3.5 million in company cash by May 2018. Yet by 31st December 2018 the half yearly report said Red Rock had just over £27k left. So within the space of just a few months Andrew Bell and Scott Kaintz had made £3.5 million of Red Rock company cash disappear.

So proven last year (also in past years) that company money doesn't drastically improve share price; also proven last year when Red Rock had money Andrew Bell and Scott Kaintz passed absolutely none of that money over to shareholders. I know i'm stating the obvious but avoiding UK companies with Andrew Bell and Scott Kaintz in will definitely save you money: so definite avoids are Curzon energy (Kaintz), Red Rock (Bell + Kaintz), Regency mines (Bell + Kaintz), Power Metal (Bell).

Good luck!

"Red Rock also announces, further to its announcement of 26 June 2015, that a revision to its agreement with Kansai "Mining Corporation ("Kansai") of 20 June 2015 ("2015 Agreement") was executed on 11 June 2018 ("2018 Agreement"). The effect of the revision is that Kansai exchanges its 25% carried interest in the mineral assets of Mid Migori Mining ("MMM" and "Assets") under the 2015 Agreement for a $50,000 payment, leaving Red Rock with a 100% interest.

In the event of a renewal or reissue of licenses covering the Assets the Company will within three months make further payments, subject to such renewal or resissue not being on unduly onerous terms, as follows: (1) $2.5m payable in cash, (2) a $1m promissory note payable 15 months after issue, and (3) £500,000 of warrants into Red Rock shares at a price 20% above their average closing price on the three trading days prior to issue"

Also it was a bit strange that RGM announced Edmund Bugnosen had resigned from the RGM board in the 24th June RNS:

"Simultaneously, the Company announces the resignation of Edmund Bugnosen as a Non-Executive Director of the Company. Mr. Bugnosen was appointed to the Board of Regency in 2009 and has primarily focused on assisting with the Company's nickel/cobalt project in Papua New Guinea over this period. Mr. Bugnosen has further agreed to be retained as a consultant in order to assist the Company primarily with its ongoing affairs in Papua New Guinea!"
...............
I thought RGM had kept him because he was an expert on Papua New Guinea and it's mining. So when the Mambare exploration licenses were expected to be renewed in June (they weren't renewed in June) he decides to resign.

So to me something not quite right about him resigning.

Regency mines 29th March half yearly report rns said:

"In Papua New Guinea, capital was largely unavailable to progress operations with the Company's joint venture partners during the period. However, application for the renewal of the EL1390 exploration licenses encompassing the project were submitted to the PNG authorities in early March 2019, and the accompanying Warden's Hearing is scheduled for late April 2019. A successful renewal of these licenses will cover the period June 2019 to June 2021"

NOTE: So RGM anticipated the Mambare exploration licenses would be renewed by June 2019.
........
However in the 24th July strategic review rns Regency mines said:

"Currently, the ONL JV awaits renewal of its exploration licences for Mambare, having recently renewed for the prior two-year period June 2017 to June 2019, only in Q2 2019. A work programme was put forward for the 2019-20 programme to the Mineral Resources Authority ("MRA") in Papua New Guinea. "

NOTE: So RGM expected to get Mambare exploration license renewed in June but by the end of July they still hadn't got them renewed.
.......

I believe the long rainy season for Papua New Guinea kicks in from Nov/Dec to April/May. So if there is more delays for getting these Mambare exploration licenses renewed, then nothing will be happening there for a good year. Of course they may not even get the licenses renewed.

So be very cautious about investing in RGM because of Mambare because RGM have done nothing there since the beginning of this decade. Of course you would think even if they got the licenses renewed they would have very little ability to raise money to do any significant exploration.

when you consider some of the huge debts they have:

(1) $1.254,000 debt (or around £1,025,000). This is from the 6th June 2018 $1.6 million loan that they took out to fund the disastrous US coal operation. This loan has incurred extension fees, huge restructuring fees + interest. The Interest per annum on this loan is 10%.

(2) In January RGM announced a £676,000 cln. Before Stephen Pearce speaks up, yes i know $500,000 (or £395,000) was shifted into this new £676,000 cln from the $1.6 million loan, so that would mean £281,000 on this loan would've come from muggy PIs. The interest on this debt is 12.5% per annum and unless altered it needs to be repaid by 30th May 2020. So it'll be around £800,000 by then.
...................

Regency mines have authority remaining to issue almost 1.2 billion new shares this year to raise new funds. But a fundraise of £300,000 (at 0.05p) would use up 600 million shares + if they gave away 600 million warrants, that would mean RGM would've used up their entire 1.2 billion share allocation for this year. Of course RGM could also try to raise money via convertible loan notes but RGM + RRR are starting to get a shocking reputation of not paying back clns on time. RGM already owe YA + Riverfort + PIs huge amounts on convertible loan notes and so you would think even they will eventually get sick of lending RGM money.

So with huge mounting debts + very little ability to raise sizeable cash + on top of that garbage company assets, then i personally don't see a much longer future for this company.

It does seem preposterous that he could announce a new coal project at RRR, afterall he was the man who peed away around £4 million on garbage RGM coal projects. But we have to understand we are talking about a textbook narcissist here.

A quick google and the traits of a narcissist are:

"Narcissistic personality disorder (NPD) involves a pattern of self-centered, arrogant thinking and behavior, a lack of empathy and consideration for other people, and an excessive need for admiration. Others often describe people with NPD as ****y, manipulative, selfish, patronizing, and demanding"
........
I always remember when big RGM shareholder Stephen Pearce asked him to stand down Stephen said he was very polite and an absolute gentleman about it. Yes of course he was because he was in front of other people but when you dent the narcissists ego you cause a "narcissistic injury"

A quick google of a narcissistic injury:

"A narcissistic injury occurs when narcissists reacts negatively to perceived or real criticism or judgment, boundaries placed on them, and/or attempts to hold them accountable for harmful behavior"
.....
So when Stephen inflicted a narcissistic injury on him, later on no doubt "narcissistic rage" kicked in.

A quick google of narcissistic rage:

"Narcissistic rage is the uncontrollable and unexpected anger that results from a narcissistic injury – a threat to a narcissist's self-esteem or worth. Rage comes in many forms, but all pertain to the same important thing: revenge. Narcissistic rages are based on fear and will endure even after the threat is gone"
..........
So probably when he got home all his finest Capodimonte got smashed up. That's just a guess but one thing for sure from that point on he would've loathed poor Stephen.

I've since noticed the angle from the RGM management for the US coal project failings: they said they had difficulty accessing funds for the USA coal project. Again taking a dig at Stephen because he and other big shareholders blocked them at the agm.

The failings of the latest USA coal project is nothing to do with Stephen because quite simply Bell and Kaintz invested RGM money in a poor coal asset and RGM seemed to personally do no due diligence on it. Plus when the coal asset was first announced Bell was making out the $3 million had purchased the coal asset ...but we find out in the past month or so that the sellers still require many more $millions to completely purchase the USA coal asset.

So let's blame the narcissist for the coal failings not Stephen.

Last post was meant to say: "everybody knows it was his (+Kaintz) decision to invest millions into all these cra*py RGM coal projects"

Sorry for the late links.

He retweeted this tweet: https://twitter.com/thegwpfcom/status/1158303510523523077

Also this: https://twitter.com/ABell2019/status/1158300871341555713 . Which you'll note lists India second.

I recall somebody putting up this link the other week https://beta.companieshouse.gov.uk/company/11857467/officers .

It would be absolutely laughable if RRR announce they've gone into coal with Bell doing the interviews because everybody knows it was his (+Kaintz) decision to invest millions into all these cra*py coal projects.

I agree booboo it looks absolutely awful here.

Looking on Bell's twitter he's retweeting articles on Indian coal. So because he doesn't tweet on RGM anymore then i can only assume he must have lined up some cr"ppy Indian coal deal for either of his other poorly run companies Red Rock or POW.

I will add my point what i was going to say about the same thing Bam Bam said:

Throughout the interview Scott Kaintz and Ainsworth bigged up RGMs garbage assets and then at the end of the interview Scott hilariously let's on that during their "strategic review" they wondered if RGM was now a shell company or instead should RGM start over. So in my translation that means RGM management wondered if RGMs remaining assets were so garbage and utterly worthless that should they instead start over. Of course with huge debts and no money RGM management decided to instead try to ramp up these worthless assets.

LOL indeed booboo. That interview (i say that loosely) was across between Pathetic, breathtaking (not in a good way) and hilarious.

I was actually going to say some of the points Bam Bam over at advfn had noticed. So instead i will quote all his post:

"In the latest Proactive interview Scott Kaintz says tossing the assets and becoming
a shell was briefly considered, and boldly claims Regency 'could' be worth over £1m.

“We sat here and said you know is this a shell company? Is this something we have to
start over? And we thought no it’s not, there is residual value in these investments
which we think can get the price moving and the valuation off the levels it is today.
When looking at it we would say our market cap is about £1m but if you look at what’s
still in the portfolio we think there’s well in excess of a £1m valuation there.”
.............................

To add extra on to what Bam Bam said, with no shame whatsoever Scott Kaintz (rather quickly) referred to RGMs dreadful USA coal asset which cost RGM millions (and RGM are still millions in debt with) as an "historic asset" and an "old asset" Bear in mind it was just a year ago today when RGM first announced https://www.lse.co.uk/rns/RGM/regency-mines-plc-mining-equity-trust-starts-virginia-coal-operation-s8a6xr3hcifvep6.html that coal production had just begun at that dire coal asset.

This company is a dog of a company, with worthless assets, they are millions in debt and also they have a garbage management. Anybody would be bonkers to invest in this dog of a company.

"Scott has been tarnished by association for years, no-one disputes that. He's a very different person to Andrew. Scott now has the opportunity to prove himself on his own merits, it's over to him"
.....................

Stephen i know these days you loiter around but you don't often post. But do you still believe that about Scott?

I now suspect you've changed your opinion about Scott because in your cozy chats with Scott i suspect he was making you believe that all was well with the US coal asset. Is that true?

RGM had a £400,000 market cap and Mambare sat happily in that mcap.

Also look in RGM rnses from 2006 and you'll see Andrew Bell talking about Mambare way back then. Let's be honest it's just an old crock of an asset that RGM management occasionally blow the cobwebs off when they've blew millions and come to the end of the road with their other rubbish assets.

Talking on Mambare. The 24th July RGM rns said:

"A definitive feasibility study is planned covering this DSO operation following the conclusion of this year's work programme"
.............
On Mambare. From a 2012 proactive investors RGM article. it said:

"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."
...................

So when you piece them together you can conclude RGM may or may not do something this year at Mambare (long rainy season begins around December) but because of the huge costs it will never actually go anywhere.

What are RRR playing at doing a deramping tweet like this: https://twitter.com/RRR_RedRock/status/1155759369960734720

How is it when RGM extend loans with YA and Riverfort they have to pay huge extension fees and huge refinancing loan fees. But when you extended the £1 million Red Rock cln you got none of that for your clients.

Is Andrew Bell treating you like a mug? Surely you aren't going to extend it in to a third year?

I recall last year you said you were only extending the cln because Andrew Bell could make better use with Red Rock's £3.5 million cash than paying you back the £1 million cln. I personally think he duped you because i suspect there was actually no money left.

For the past few months this website hasn't shown some of RGMs most important rnses. For example the 6th June 2018 $1.6 million loan rns + the 27th Dec 2018 final results rns.

In the RGM final results rns (got from investegate website) Bell bragged about Regency mines mighty assets.

"Regency owns liquid assets that it can sell to fund operations, the most significant being its 8.9% stake in Curzon Energy Plc, listed on the Standard List of the London Stock Exchange. The value of this holding in Q4 2018 was approximately £120k. The Company also has a 5.584% interest in Whitecar Ltd"
.......
Of course White car is now bust. So awful investment decision by Andrew Bell and Scott Kaintz because they lost £400,000 in that. And Regency mines most liquid asset, it's Curzon energy stake is now worth around £75,000. So again another awful investment decision by Andrew Bell and Scott Kaintz because they originally invested £575,000 in that.

PS: It's a near certainty Curzon energy's share price will go lower because Scott Kaintz is it's CEO. I believe the Curzon price has fallen from 3p since Scott Kaintz became the Curzon CEO. Of course these days Scott Kaintz is also the CEO of RGM. Here is Scott Kaintz doing a Curzon interview on April 3rd https://www.youtube.com/watch?v=wih4ZC1Mf84 and he's talking about drilling two wells within the next 3 months. Of course that was a Scott Kaintz promise, which of course was a lie.