Re: Now looking seriously under-valued? Yes that is why i stay investeren hereBut my confidence is shaky to say the least after the due diligence disastersYes disasters (4times) with regency minderNever a word to explain of excuses and of h.k.Hehe dat lucht op
why are we va,ted by AIM at 0.7p If we get 250k per 6 months from jupiter alone??????? I just don't get the AIM market at all!!!!!!!!!
Re: Now looking seriously under-valued? I agree with you that it is undervalued. Market Cap here is less than £2m, yet £.5 million a year coming in then surely that gives a NPV of £3million if you have a discount of 10% and lasting 10 years, add up all the other assets etc then we should be worth 10million that's 5 times today's SP that's why I said 2-3p, so undervalued yes.Will we get there? It really does depend on the steel project, if no real issues then we could see 3p and then we might even, dare I say it, a small dividend. I'd expect if Kenya pans out then he'll farm that off and get a royalty.Fingers crossed.
Re: Now looking seriously under-valued? Yes fish lips, I nearly included that in the post. He has collected quite a number of errors hasn't he. Worse he has usually bulled them up rather than being balanced and is much more reluctant to admit things in the garden are less than rosy than he should be. I nearly said, much like has recently happened at Ortac, a new broom is required to move this on but as that is unlikely to happen it seemed pointless but you are correct and lets hope AB does have a little more success with his risk taking!
Re: Now looking seriously under-valued? VBThe trouble is sentiment. After the debacle of Columbia, Greenland and late news on other items, the market has very little confidence in AB. He does deals and some work and some don't he has a very big risk appetite and as long as he can raise funds and some of the projects make money he'll always do it. He gets paid and we don't see much of a return on the SP. Hopefully the deals will be less risky and the money will come in, as predicted from other projects and we will certainly see a rerating. It should be at least 2-3p for JMS, though.
Now looking seriously under-valued? With a fairly regular £500,000 per annum from Jupiter with the prospect of further increases if they go for growth and presumably, though we haven't heard anything for a while a dribble from Columbia and the steel processing plant coming on stream early 2018 am I the only one who thinks this is looking seriously undervalued?
Great stuff AB and at a premium with another tranche to come?[link]
Under the Radar RRR seems to have slipped under the radar.........Graham.Red Rock Resources, a contrarian play!At 3oth OCT2017 share price 0.62p to buy mkt cap £2.7mRed Rock is a natural resource development company listed on the AIM market in London (AIM: RRR).Shares in issue 476,037,740 Ordinary SharesOptions/warrants [link] Interim report [link] Apr 2017UK Investor Show 2017[link] Steel FeedRed Rock has Investments in a Producing Manganese Asset in South Africa and a Ferrosilicon Smelter in BosniaGoldThe Company has exposure to gold production in Colombia as well as gold exploration in Kenya, Ivory Coast and Ghana.Oil and GasRed Rock has producing oil and gas investments in the United States and interests in petroleum exploration onshore in Benin.Multi CommodityThrough its investments Red Rock offers exposure to a wide variety of commodities including metallurgical coal, nickel and nickel processing technology, as well as coal bed methane.El Limon bullet points.RRR: Ongoing Disposal Gold Assets sold in 2015 for $5M USD1M Promissory Note ($250,000 paid $750,000 due 1st April 18)USD3M Royalty Still to be Paid 2017 Production Expected to be15,000oz Long Term Goal of 25,000oz per YearJupiter Mines bullet points.RRR: 1.26% Manganese production in South Africa Production of 2MT Targeting 3MT in FY2018 Announced distribution of USD55M to shareholdersRRR HOLDS 27.3M SharesFunds from JMS buy back $530,000 received + $300,000 due November Stake in JMS could be worth £5m+++ as they hold a 49.9% stake in Tshipi Manganese mine in S.A. which is in the process of realising shareholder value, also JMS are considering re-listing on the ASX ( RRR hold 27.3m shares in JMS 1.2% )JMS HighlightsPlanned distribution of US$55m to shareholders in Q1 2017 Tshipi, South Africa 49.9% ownership of open-pit manganese mine Started production early 2013 Production increased to 2MT+ One of the worlds largest Mn mines Strong manganese pricesMount Mason, Western Australia DSO project On care and maintenanceMt Ida, Western Australia Magnetite project JORC inferred resource of 1.85bn tonnes at 29.48% Fe On care and maintenanceSteelmin (Ferrosilicon Smelter in Bosnia) owes RRR EUR3,874,560 8 Month secured loan note, check out details below. (an income is expected from this investment in 2018 ) [link] So far RRR has 18% of Steelmin, (UP TO OCT) and this will increase each month @ around 1% per month until the loan is re-paid to RRR. (up to max 30% ) Steelmin are expected to go into production this December and re-finance which should enable them to then clear the loan to RRR EARLY who in turn can then repay their lenders (RRR AT PRESENT HOLD 18% OF STEELMIN for VERY little money) it is assumed RRR have so far made two repayments on the loan, which is secured on JMS stock.Steelmin Ltd. Bullet points.RRR 16% Stake - May Increase Up to 30% Initial FeSi Production Targeted for Q1 2018 Two Electric Arc Furnaces Onsite Complex Capacity of 48,720t of FeSi and 9,700t of Microsillica Projects 35m Rev and 7m EBITDA Near-Term Production in Familiar Steel Feed SpaceVERY CLOSE TO PRODUCTIONMigori Gold Project bullet points.RRR: 75% Project Interest 1.2Moz gold JORC Resource Kenyan Greenstone Belt Working with Kenyan Ministry of Mining on Licensing Issues Exploring Partnership OpportunitiesUNDER REVIEW Ivory Coast Gold Project bullet pointsRRR: 100% Early Stage Gold Exploration Underexplored With Significant Potenital Birimian Greenstone BeltOn the back
Twitter [link] currently in Kenya, stated on twiitter the Minister has requested Dinner with him, watch the Kenya space
Previous high about 1.2p So don't get too excited.Plus rrr percentage in jupiter lowPlus previous rantings about a dividend!!!
Re: and a nice payment due in September Might dip my toe here despite the somewhat unpromising Steelmin deal.I emailed the company and they confirmed that the board position relating to the steelmin deal is unpaid. They also confirmed that a substantial liquidity event from the Jupiter sale would likely lead to a distribution subject to board approval.In my email I mentioned that, in my eyes, if the return to shareholders wasn't substantial, that would effectively amount to a resignation by AB as his position would be untenable. Not sure what everyone else thinks?
and a nice payment due in September Which is being spent on?.......
Re: got to say. JMS results look impresisive JMS made Comprehensive Profit of $159,621,720 Year Ending March 2017. Good investment by RRR in this company and a nice payment due in September.