Regency Mines Share Discussion Threads

[atino] 14/3/2019 21:33

...nearly a decade gone by 💭 & no shareholder value 🤦‍a94;️ (...same could be said for RRR) 😕

[sleveen] 14/3/2019 21:00

Deducam eos quasi agnos ad victimam quasi

[sleveen] 14/3/2019 20:39

Lupus rather than vulpes IMHO.

[torp] 14/3/2019 20:28

Yes let's have another 7 years of ConfettiEttie share price destruction !!





VULPES PILUM MUTAT, NON MORES

[kemche] 14/3/2019 19:23

I will be voting for the proposal as I deem it only right that Bell continues to draw a salary and persists in leading us into more loss making ventures. But that's just me. £18m in cumulative losses under his tenure is in no way enough.

[noirua] 14/3/2019 18:47

There is a voting conundrum here. First to look at the share price and see how much it is affected by the possibility of not being able to continue as a going concern.
Also how much it might be affected by dilution. Or maybe just the loss of the USA interests.
So any vote may well be a consideration more on the likely share price reaction than anything else.

Looking at the asset position I'm still of the view that something is very seriously wrong on those low prices for metallurgical coal reported to have been obtained.

It looks as if a lot of arm twisting and cajoling will be going on to drag shareholders over the line to vote in favour of the proposals. My own position is not yet firmly in the affirmative.

[kemche] 14/3/2019 17:10

Noirua, would you be voting for the proposal?

[torp] 14/3/2019 16:38

Wonder how quickly this BOD could burn through that kind of cash in Admin Expenses?

Matterless really. This BOD really should resign plain and simple, they have had years and years to make something of the company and all they have done imho is use it as a lifestyle vehicle for self enrichment.

Large investors would be absolutely mad to vote for the resolution requesting authority to issue up to 2bn shares.

[kemche] 14/3/2019 15:16

Was it paid via Curacao? BVI? Panama?

[noirua] 14/3/2019 14:42

47% of $12,210,103 = $5,738,748. It looks as if Legacy Hill should have been able to pay about $4 million to Regency.

Some tough negotiating needs to be done here.

[seagullsslimjim] 14/3/2019 14:36

Noirua quotes - 'Finished'

Yep and probably your most truthful post to date.

[noirua] 14/3/2019 13:24

Ah yes kemche, but have you worked out how much more cash would be with Legacy if they had got $93 per ton against what they report they got between $36 and $45 per ton?


----- 2018 ------------------------------------------------------------------------------------- 2019

Actuals -------- Aug --------- Sept ---------- Oct ---------- Nov ------------ Dec ----------- Jan ------------ Feb ------------ Totals

Sales --------- 74,673 ------ 44,020 ------- 43,530 -------- 20,006 --------- 16,973 -------- 15,179 --------- 24,883 ---------- 239,264

Revenues ----- $3,075,530 -- $1,959,036 -- $2,015,816 ----- $891,624 ------- $640,683 ------ $539,636 ------- $919,116 ------- $10,041,441

At $93 a ton - $6,944,585 -- $4,093,860 -- $4,048,290 ----- $1,860,558 ----- $1,578,485 ---- $1,411,647 ----- $2,314,119 ----- $22,251,544

Basically guys there seems to be a $12,210,103 disparity here. The figure is much higher if we go back before August 2018. This needs investigating big time.

[kemche] 14/3/2019 13:20

SOMETHING IS VERY BADLY WRONG HERE!


Quelle surprise.

When did you come to realise it?

[noirua] 14/3/2019 12:56

Please excuse this aged report going back to March 2018. Concentrating on comments about metallurgical coal at that point they refer to the price at US$93 per ton.
The lowest price received by Legacy Hill is in fact only US$36 per ton.


SOMETHING IS VERY BADLY WRONG HERE!

[kemche] 14/3/2019 12:38

I think it is only right that RRR and ABM invests generously in any future fundraising so that Ettie can eat from three plates rather than just the two. He does have an appetite our lardy fellow.

[kemche] 14/3/2019 12:36

I think it is only fair to give Ettie yet more money so he can continue to squander it as he has always done so. The man has to eat after all.

Please give generously - he has a lifestyle to support.

Thanks for your generosity.

[noirua] 14/3/2019 12:34

Mining Equity Trust:
RGM Corporate Presentation December 2018:

[kemche] 14/3/2019 12:20

I think it is only fair to give Ettie yet more money so he can continue to squander it as he has always done so. The man has to eat after all.

Please give generously - he has a lifestyle to support.

Thanks for your generosity.

[noirua] 14/3/2019 12:01

As Regency is in talks with its larger investors it does put them at an advantage to small PIs. They may have a collective point of view and then be able to second guess any likely moves.

[noirua] 14/3/2019 11:50

The company is probably, among other things, in talks about raising money via convertible CLNs etc.,
Additionally awaiting news on Red Rock's two immediate matters in DRC and Kenya. As well as looking at the CZN interest that is also recently in uptrend.
Matters are difficult but plenty of interests if you take a lofty position.

[torp] 14/3/2019 10:11

Despite this history of devastation, the company now wants authority to issue up to 2 billion shares here. Perhaps it's just me but that prospect just seems utterly ridiculous to me.



Its like a chronic gambler with massive debts saying "honestly I just need another £10,000, if you can just lend me £10k I'm sure this time I can win and make the big time"

Large investors would imho be crazy to vote such a resolution through.

[torp] 14/3/2019 09:31

The share price hasn't crashed Noirua. The company has been run into the ground
by the continuing actions of this BOD. Their perpetual use of a failed business model
to simply keep issuing confetti shares to raise funds, much of which then goes to
director salaries, £millions of which is expended in Admin Expenses and with little
to no shareholder value delivered.

It would be interesting to compare how much of the countless £millions raised have
gone to Admin Expenses with how much actually went into the ground. I suspect the
result would be highly embarrassing.

This is a failed BOD using a failed business model which serves only to personally
enrich themselves at the expense of dilution which decimates the share price.


ANNUAL REPORT RESULTS
=====================

2012 - Loss of £2,112,350 - raised £907,090
2013 - Loss of £5,166,017 - raised £3,327,678
2014 - Loss of £1,508,812 - raised £1,212,805
2015 - Loss of £5,888,742 - raised £1,049,765
2016 - Loss of £1,965,722 - raised £781,595
2017 - Loss of £534,267 - raised £1,576,701

Total raised above - £8,855,634


Long term chart showing the devastation of a failed business model:




Time to shut shop imho.

[noirua] 14/3/2019 01:49

The share price has crashed and that is dreadful for shareholders. There just has to be a way to restore things. Apart from what is already posted I've a new idea...more after the weekend ahead.

[kemche] 14/3/2019 00:55

The BOD should do the honourable thing for it is, as everyone knows, a gone concern.

Ettie - honourable? Chance would be a fine thing.