Member Info for zumore

is that RGM management are hopeful that RGM will still exist in 5 years time. Lol you should be so lucky! :)

If this company had no debts it would still be in dire trouble because it's assets are garbage and likewise so is it's management. So because in reality this £800,000 market cap company is debt ridden to the tune of many millions, of course on top of it's garbage assets and garbage management, then it stands to reason that absolutely no way would any sane individual would invest in this dire hellhole of a company.

is that they have almost run out of funds so they will soon need to do another placing. Of course that is true with RGM. But RGM are in a different league of unappealingness to other AIM companies. They owe:

(1) $1,254,000 on one loan (10% per annum interest)
(2) £676,000 on loan two (12.5% per annum interest)
(3) The 3 partners in US coal venture MET (includes RGM). 9th July 2019 rns says: " MET to repay the $8.17 million of outstanding loan note obligations over the period to October 2020"

On top of that awfulness they also have an atrocious management team and abysmal assets. So RGM is an awful company on another level.

Booboo asks: "Surely the now $1,254,000 loan includes the £675k cln right?"
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I guess that was the aim of RGM (to cause confusion) when they rnsed the £676,000 cln and also announced the restructuring of the June 2018 $1,600,000 cln in the same 14th January 2019 rns: https://www.lse.co.uk/rns/RGM/regency-mines-plc-convertible-loan-notes-and-loan-note-reprofiling-6yy86nwlffrid65.html

Clearly they were different loans with the £676,000 cln (12.5% per annum interest) needing to be paid back by 30th May 2020 and the restructured $1,600,000 cln (12% per annum interest) needing to be paid back by 28th February 2020.

In the 14th Jan rns the rns makes clear that the $1.6 million restructuring refers to the 6th June 2018 loan. Again when YA and Riverfort converted some shares on both the 15th March and 25th March both rnses confirmed that these conversions were from the original 6th June loan. Again in todays rns the restructuring rns makes clear "announces a refinancing of its existing loan facility, first announced on 6 June 2018 and further updated on 14 January 2019 and 15 April 2019."

The £676,000 cln only first existed on 14th January 2019. So it is nothing to do with todays loan announcement. They are different loans. Also with the £676,000 accruing interest of 12.5% per annum, that will mean by redemption date of 30th May 2020 RGM will owe near £800,000 on this different loan.

https://www.lse.co.uk/rns/RGM/regency-mines-plc-loan-conversion-srvm4e9qdyp7gxp.html

After the above 25th March rns this particular loan would've been down to around $997,000 but in today's rns it's back up to $1,254,000, so in pounds just over a one million.

Bear in mind the above remaining $1,254,000 loan was originally taken out to fund the US coal asset. That US coal asset is pretty worthless these days.

On top of the above loan RGM also took out an interest bearing £676,000 cln in January. So RGM owe some huge debts.

"Someone sold 4 million"
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Both of the death spiral companies YA and Riverfort each hold around 110 million shares in RGM. So could easily be either of them selling RGM shares. And because of existing debt RGM are due to pay those death spirals companies $50,000 (works out around £40,000) each and every month from July 2019 until February 2020.

Considering the death spiral companies always get a 10% discount when RGM new shares are given to them, then you would imagine this share price will really get dragged down over the coming months.

PS: Though i do think a share consolidation will be happening soon.

Wow i lasted 4 and half minutes watching that video and Bell comes across so shifty! What is the point of doing interviews when you are so evasive?

That's a big signal to avoid investing in this company.

Hi Booboo. Yes i agree it looks awful here for RGM shareholders.

Stephen Pearce and particularly Luke1 have been in RGM for years and for the life of me i cannot understand how they think because we all know this inept greedy RGM management are going to dilute shareholders into oblivion. Also along the way they will no doubt announce some utterly garbage assets.

Also agree virtually no worth in the rubbish RGM portfolio. Of course Bell and Scott Kaintz picked all those rubbish investments and those two need dumping in any strategic plan because they are utterly useless for RGM shareholders. Even forgetting all the millions Bell and Kaintz lost on various coal projects, just looking at their £975,000 they in total invested in Curzon energy and car rental company White car: that is now worth a lousy £80,000.

I will end this post now because i get disgusted when i think of AB and SK. Both grubby conmen!

Sorry. All of my paragraphs seem to have disappeared from my last post.

Hi Booboo, sorry about my bad English, i meant after RGM did a 20-1 share consolidation at the end of 2015 they began after consolidation with 124 million shares in issue: so in these past 3.5 years RGM have been diluting shareholders like crazy and gone from 124 million shares in issue to just over 1.5 billion. .........................And onto big shareholder Stephen Pearce. I am truly astonished he continues to support this dreadful company and give his support to the useless Scott Kaintz. I don't know whether Stephen reads between the lines of RNSes (also in some of Bell's old tweets) but clearly in RNses like the half yearly report, although they didn't mention his name Bell and Kaintz were clearly trying to shift the blame of the disastrous US coal project away from them and onto the likes of big RGM shareholder Stephen who blocked agm resolutions. RGM management blaming the prevention of raising money for the disastrous results of the US coal project. Clearly Bell and Kaintz need to blame themselves because Legacy hill aren't RGM. So because Legacy hill and RGM are different companies that means RGM also had to do there own independent due diligence on the US coal asset. Did they? When RGM management squandered near £2 million on Stephen Moscicki's coal projects some laid the blame on Moscicki and said but he did the due diligence. Again that is ridiculous because Moscicki wasn't RGM and so it was up to RGMs Bell and Kaintz to do their own due diligence. It seems they didn't and for that they were lazy incompetent ????s.Why are the incompetent duo of Bell and Kaintz still employed at RGM. I'm not trolling when i say they are garbage. Year after year it's been proven they are utterly useless for RGM shareholders.

"Forbearance agreement signed - MET loan note obligations to Omega sellers of $8.17m rescheduled over period to October 2020"

"Forbearance agreement currently in default"

"ADDITIONAL FUNDING REQUIRED to ensure long-term stability of the business"

"Longer term plans in place to install a wash plant and upgrade saleable product SUBJECT TO ADDITIONAL CAPITAL BEING MADE AVAILABLE"

"much work and FURTHER CAPITAL ARE REQUIRED to put the Omega business on a firm pathway to success"

"both highwallers have been idled and third-party sales have also been paused, PRIMARILY DUE TO WORKING CAPITAL DEFiCiENCIES at Omega"

"This restart effort and the associated surface mine WILL REQUIRE ADDITIONAL FUNDING"

"The Company will update the markets on these next steps in due course to include the results of the ongoing strategic review of business operations"

I agree booboo there is nothing honest about Scott. But then again he learnt from the master.

Also if over 2 nillion RGM shares are soon in circulation then that is truly shocking because RGM only had just over 124 million in issue when they did their last 20-1 share consolidation back at the end of 2015.

Yeah you are correct MrM i meant shares in millions. But if they did a placing with 600 million shares along with 600 million warrants obviously that wouldn't last RGM long.

Also not forgetting RGM must from this month start making a total monthly $50,000 debt repayment to death spiral companies YA and Riverfort. So $50,000 share repayments month after month (till February 2020) will slowly but surely use up a lot of their available share allocation.

So unless another huge cln is announced then i would guess another share consolidation.

I suspect nothing will have changed in the shared RGM and RRR offices. In the RRR part of the office will be Andrew Bell and Scott Kaintz and in the RGM part of the office will be Andrew Bell and Scott Kaintz.

RGM new directors are both non-exec directors and i would suspect only on rare occasions they would turn up at the offices. Which will suit Andrew and Scott fine because nothing much will have changed.
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Stephen Pearce, on a separate subject. Do you know in your conversations with Scott Kaintz when you concluded that Scott was an honest guy who had just been "tarnished" by Andrew. In your conversations was honest Scott giving you the impression that the RGM + Legacy hill US joint coal project was going really well?

Let's be honest the 3 partners of MET coal will not be able to keep up payments of their $8.17 million loan note debt and so sellers Omega will take back the US coal asset. So the US coal asset is worthless. The RGM Mambare license is worthless. The RGM Vanadium exploration license is worthless. The Esteq subsidiary company is worthless. RGMs CZN shares are worth around £80,000. RGMs Red Rock shares are worth around £40,000. RGMs £400,000 investment in car hire company White car is now worthless because White car went bust. RGMs Andrew Bell & Scott Kaintz are useless worthless good for nothings who squander millions on useless project after useless project.

I soon expect a share consolidation here. In April RGM did a placing and used up 400,000 shares along with 400,000 warrants. So because there is always a chance warrants could be converted into shares that means RGM have already used 800,000 of this years 2 billion allowed shares. So to use up the rest of the 2 billion share allocation all RGM would have to do is a 600,000 share placing along with 600,000 warrants: a 600,000 share placing at 0.07p would raise £420,000. Obviously RGM have huge debts and huge company costs so £420,000 wouldn't be enough. So i suspect a share consolidation coming to RGM pretty soon.

I notice in the Jupiter mines annual reports it always says of Andrew Bell's director fees: "Director fees paid to "Andrew Bell consultants" a company in which Mr A Bell has a beneficial interest".
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Always amazes me Bell pockets the Jupiter director fees. After all how can he represent Red Rock shareholders best interests in regards to Red Rock's Jupiter shares, when he knows that if he sold all of Red Rock Jupiter shares he would highly likely get kicked off the Jupiter board. So a definite conflict of interest that he continues to pocket his Jupiter director fees.

Yes booboo we know behind his smile lies a useless liar! Forget what bluffer Pearce says that we all have Scott wrong, what did he say we've misunderstood Scott and he's actually good and he's just been "tarnished" by Andrew?

Also dismiss bluffer Pearce when he insists RGM only owe a total of £750,000 on outstanding loans. Clearly the Jan 14th RNS shows two different loans: the one that has $50,000 monthly payments (now from July) and must be paid off by Feb 28th 2020 is the restructured $1.6 million MET coal loan. In the other £676,000 loan that must be paid off by May 2020, YA shifted $500,000 (or £395,000) of their $1.6 million MET coal loan into that loan.

By the way that 6th June 2018 $1.6 million MET coal loan had accumulated enormous interest and fees by the time it was restructured in Jan 2019:

(1) It had 10% per annum interest. So in the 7 months to Jan 2019 it had racked up around $100,000 interest.
(2) The $1.6 million loan also had a $96,000 implementation fee.
(3) The $1.6 million loan was extended beyond 6 months so it cost RGM an $80,000 extension fee.
(4) The Jan 14th 2019 RNS says for the $1.6 million loan to be restructured that would cost RGM a $156,000 "restructuring fee".
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Also Booboo, you know to dismiss bluffer Pearce when he insists that RGM don't owe MET coal partners Legacy hill huge amounts of money. Clearly the 11th March RNS says RGM aren't paying their way in that partnership.
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Clearly Stephen's problem is that he's extremely desperate and he's now just making things up so gullibles can join him in this wretched company.

Booboo over at RRR, Red Rock owe an approx £1 million cln with a cln conversion price at 0.80p. The final redemption date on those is 19th December 2019. When last year the RRR price went above 0.80p a few were converted but the other near £1 million wasn't. So Red Rock extended the cln for another year. With the RRR share price slowly but surely falling we can be near 100% sure nobody will be converting, so come December RRR will either have to find over a £1 million (including interest) to pay back the lenders, or they will be trying to extend the cln into a third year.

So regarding RGMs £676,000 cln. With the RGM cln 0.42p conversion price it means no chance of conversion. So come May 2020 RGM will still owe the lenders £676,000 + interest.

Booboo: "Can someone just remind me again ,what happens come May 2020 do we have to repay the £676,000 notes back plus 12%?"
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Yes! So RGM will have to find £676,000 + 16.5 months of interest (£6,760 interest each month). So that means RGM will owe the lenders around £110,000 interest + the £676,000 (so £776,000) come end of May 2020.

The outstanding loan amount remaining in the 25th March RNS (around £760,000 + interest) https://www.lse.co.uk/rns/RGM/regency-mines-plc-loan-conversion-srvm4e9qdyp7gxp.html is not the same loan as the above May 2020 £676,000 loan. According to the 14th Jan 2019 RNS this loan needs to be paid back by 28th Feb 2020. The Jan 14th RNS says:

"The balance of the restructuring fee becomes payable at maturity of the Loan ("Maturity") which is extended to 28 February 2020 at an interest rate of 12% p.a.;

· From May 2019 (now switched to July) to February 2020 Regency will make monthly payments of principal and interest amounting to US$50,000 per month;

· Bullet payment of balance including interest and the aforementioned balance of the Restructuring Fee at Maturity"
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interview with Scott Kaintz and Nigel Burton. Nigel said that he and Ewen Ainsworth's expertise aren't in mining but in finance, raising cash. So let's get this straight new boy Nigel Burton's main expertise is in raising cash; other new boy Ewen Ainsworth expertise is also in raising cash; old boy Scott Kaintz expertise is in raising cash; and fat old boy Andrew bell's expertise is also in raising cash.

Scott said that he is in discussions with some big RGM shareholders at the moment. So no doubt discussing with muggy gullible Stephen Pearce about raising some cash.

"Zumore. The Jan CLN was a rework of the original and a smaller part from a PI, the £676,000 wasn't in addition.
The 25 March RNS states how much loan is left outstanding."
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Sorry Stephen you are so wrong. Clearly the 14th Jan rns made two different announcement.

Firstly RGM announced they had taken out a £676,000 in convertible loan notes. The terms of this new loan and warrants were:

"The Notes are being issued at par and are convertible into Ordinary Shares of £0.0001 in Regency ("Shares") at a price of 0.42 pence per Share. Each Note has a denomination of £1,000 and is thus convertible into 238,095 new Shares in the Company. Conversion may take place at any time up to the final redemption date of 30 May 2020.

Each Note holder also receives 119,047 Warrants for each Note subscribed. Each Warrant entitles the holder to subscribe for one Share at any time up to 31 May 2021 at a price of 0.6 pence per Share.

The interest rate on the Notes is 12.5% per annum, accruing monthly"
.....................................

Secondly RGM also announced they had agreed a restructuring of the 6th June 2018 $1,600,000 loan note.

They got charged 5% (or $80,000) loan extension fee. Additionally they also got charged a $156,000 loan restructuring fee. Plus the original $1.6 million loan was gathering 10% per annum interest, so it was around 7 months since when the loan was originally taken out, so probably an additional $90,000 interest was now on top of the loan. So add all the above together means the $1.6 million loan was now up to around $1,926,000.

The 14th Jan rns said that RGM would now pay back $580,000 from the loan + pay back the $80,000 extension fee + $20,000 of the restructuring fee. So we take all those repayments away from the $1,926,000 loan and that leaves roughly $1,246,000 of the loan outstanding.

Now fast forward to both the 15th March and 25th March rnses when Riverfort and YA started to convert some of the loan. In the 15th March rns it said that the 6th June 2018 and the same 14th Jan 2019 refinanced loan had $1,279,800 outstanding. And then after the 25th March loan conversion it was down to around a $1 million.
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Clearly the Jan 14th rns states that the £676,000 loan and the restructured $1.6 million loan are different loans. It's weird that you don't understand that.