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Steelmin cost us nothing, when they sell it on we will make some profit on that, our shares in jupiter are £3.3m, we get £1m divi from jupiter, and we have around £3m in the bank.
The company is ridiculously cheap now, mkt cap only 3.3m. Anyone buying at current levels will make guaranteed profit.
IMHO
Maestro: "Steelmin cost us nothing"
Poster Helpful said the same thing. I'm not sure how true it is because those that make the claim tend to ignore a key part of the financing. I'm happy to be convinced otherwise if someone wants to present the numbers.
magic
while you cry you lost of 5 years other make decent profit on this stock, this will be close to 0.9p very soon again.
Probably best to get back to ramping CHAR and ROSE Maestro. No one is going to fall for your ramping nonsense here imo. SP here is only going one way imo now that Steelmin have announced that they can't operate at a profit and now that Shoats Creek has gone all quiet. It just can't be polished any further, too many people too wise now. Even one of the major holders has started dumping:
https://www.investegate.co.uk/red-rock-resources--rrr-/rns/holding-s--in-company/201809281226483649C/
rose was recently 2.25p and it went as high as 3.8p since then. Easy money...
That was cheap.
No matter what you think of Bell, the numbers for investors look very appealing, mkt cap is only 3.3m yet they have money in the bank and receive £1m in divis from jupiter per annum.
WE own shares in Jupiter which are worth the same as our mkt cap, you would be a fool not to buy in at current level.
Dont know which school you went but the numbers are in the favour of investors who purchase at this level.
Magic
We own 22% of steelmin and we dont need to bail them out, a buyer will come in to the newly refurbished plant, we will receive c.22% after cost.
Maestro: "the numbers for investors look very appealing, mkt cap is only 3.3m yet they have money in the bank and receive £1m in divis from jupiter per annum."
Like I said, no one is going to fall for your carefully cherry picked nonsense here any more.
Why is it you make no mention of current liabilities in that set of "appealing numbers" Maestro ?
As at end Dec 2017 the liabilities were a whopping £5.3m as stated in the financial report.
The remainder of the back to back Steelmin financing has been paid off since which accounts for roughly £2.2m. So what's happened to the rest of those liabilities? What about the £1m of CLNs that were set up last year and which run to Dec this year?
As for the Jupiter divi how can anyone get excited about it while ever the company keeps expending equiv of £600K per year on bloody Admin and other expenses?
Your ramps are entirely hollow and the SP is where it is because markets know the score here imo.
Maestro: "We own 22% of steelmin and we dont need to bail them out, a buyer will come in to the newly refurbished plant,"
You're talking utter Billy BS. The plant has just announced the disastrous situation that it can't operate at a profit because of high electricty prices. It desperately needs to set up a long term contract with an energy company but meanwhile Steelmin is a total bust, the latest in a long line of RRR damp squib ventures imo.
Why would anyone consider buying a plant that can't operate at a profit?
Not only that but Steelmin borrowed EUR 3.8m from RRR which they subsequently refinanced with a "Luxembourg Investment Vehicle" and a further EUR 3m from another group of lenders. That all needs paying back.
So, massive debts, unable to operate at a profit, and you think someone will buy it out?! You're a total joker.
It will end up in AB's oubliette along with Greenland and Ivory Coast and Shoats Creek.
Your paid ramping is a joke.
Omg torp you are on 2 boards simultaneously. Unbelievable!!! It was only 20k you lost 5 years ago.
I think you are the paid deramper, last 5 years posting daily need some closure mate. I haven't been ramping this for 5 years.
Torp/magic What would you do if bell retires? It seems you only post on all companies he has an interest. When we invest im aim market we all know the risks. You got emotional should have kept your money in isa.
MrMagic/Torp clearly lost a lot more than 20k. You can see in his posts from 2012/2013 he excessively averaged down around 5,000-10,000% higher than todays price.
The really sad thing is he can't move on from that. It was 6 years ago now. 12,000 posts as Magic and many others from Torp all day every day is insanity.
What has he achieved in them 6 years? I can't imagine AB even reads his posts for 6 years and has likely blocked him long ago. So it baffles me why he still posts incessantly over the years. A few posts on a forum are not enough to take a company down and posting his misinformation about company liabilites etc does not make much difference investors who will look into it themselves.
So MrMagic - many of us would be interested to know WHY you quite literally spend most of your waking hours monitoring the rrr board and posting about it and thinking about it for 6 entire years? It's the most illogical thing i've ever seen. Also how much did you actually lose in order to get like this? i'm sure dozens would be interested in the full story.
Kabaa I think thats been his aim since he lost a fortune here which is to bring down the company. Really sad, doesnt get my sympathies for doing this for 6 years. Everyone loses money on aim, anyone says otherwise they are lying. You will have your rant on the cpmpany for a while and move on, it seems magic and his multiple aliases cannot. Of course i have no love for AB nor does he really give a toss about investors its where you see value one should invest. If you ever want to invest long term i would never suggest aim mkt.
Kabaa, pray tell what misinformation has magic posted?
I'm sure chief litigation specialist Andrew bell would have nipped that in the bud if it were true.
Kabaa: "misinformation about company liabilites"
I notice that as ever you are happy to slander people and then when challenged go silent. Please have the decency to tell me what misinformation about liabilities you refer to?
Would you care to hazard a guess at where those liabilities stand today ? preferably backed up with some substance.
MrMagic is back.
Still havent answered our question, 6 years posting negative posts but you cant short this stock so whats the point?
Another £500k coming on wed to RRR. :-)