Royal Mines & Minerals (RYMM)

[Dunphy777]

NEW YORK--(BUSINESS WIRE)--

Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Royal Mines and Minerals Corp. (“Royal Mines” or the “Company”) (OTC MKT: RYMM) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval of the Company’s 2013 Stock Option Plan.

Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on July 26, 2013, the Board of Directors recommends that Royal Mines shareholders vote to approve the Company’s 2013 Stock Option Plan which will make 27,800,000 shares available for issuance. The issuance of the shares could have a substantial dilutive effect on the shares of Royal Mines common stock.

[kranthikumar]

RYMM is up by 120%

[mdb1]

Sounds like they can't pay anyone so they will just issue lots of shares.

[croaker246]

WHY? What's going on?

[kranthikumar]

RYMM IS ON HIGH ALERT!

[mdb1]

Once again ZERO revenue and $14 million in losses since inception.
Amazed stock is not at $.0001. It's holding up well under the circumstances.

[mc67]

cool, eom

[MasterBidder]

Nope, I didn't buy any on Friday looks like some new $ taking interest.

DIK

[mc67]

..you the one who's making all the noise in the volume ?

[MasterBidder]

Looking good here IMO

Dik

[MasterBidder]

Roadblocks taken out. Go time?

DIK

[MasterBidder]

I have no problem bid sitting and accumulating here... gonna be sick one day soon.

DIK

[mc67]

Hope.. eom :)

[MasterBidder]

Insiders holding much of the OS here

http://www.nasdaq.com/symbol/rymm/insider-trades

DIK

[MasterBidder]

Hmmmm - interesting. Nice SS, insider buys (.07!). This could move quick.

Yummy.

DIK

[gitreal]

Good riddance. Unfortunately, they'll pop up elsewhere running some variant of their scam. That's all these guys know.

[mdb1]

RYMM is bankrupt, finished imo. Not worth $.0001.

[SuperC]

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8947284

[gitreal]

A $10 buy on Friday is the beginning of a run? I don't think so.....

[jindal]

Will we get another 800%?

[mc67]

896% on 500 shares.. it's a jumper !

[mdb1]

Thiourea leaching is a proven leaching for gold & silver technology. But I think it is 5x to 10x more expensive than cyanide leaching. But if one by law is prevented from cyanide leaching & having outdoor leaching ponds, then RYMM's technology would work. Especially if gold goes to $3000.

But I really think RYMM goes out of business in 2013 and/or bankruptcy. There debt is way way way to high with no incoming revenue.

[gitreal]

If their magical lixivation system actually worked, don't you think one of the big mining companies would be all over it? There is no easy answer to processing ores. Of all the companies out there, I really doubt a crappy penny stock company like Royal Mines and Minerals would find the technical answer that companies with all the resources in the world have not found. Especially a company with documented ties to previous mining scams.

Actually, spending a million bucks to make $100K works just fine, since it is not their million bucks to begin with!

[mdb1]

Rymm maybe could "export", their lixivation solution/plant-package to where the gold/silver is. They could build their plants in environmentally sensitive areas like Montana (that prevent cyanide leaching(????)) and provide an environmentally safe, cost effective leaching solution. Now that seems reasonable and doable. The livation process now can process gold and silver from many types of ore composites.

Their gold from fly ash process, apparently is NOT close to being cost effective/profitable -- so give it up. Spending a $million to make $100,000 does NOT work.

[gitreal]

More potential investors in Scottsdale, maybe? Their main facility in West Phoenix is in a not-so-good part of town, and maybe they wanted a facility they could walk some more up-scale investors through. Just a guess......

[gitreal]

A leopard does not change its spots. The people associated with RYMM have a long history of being involved with mining scams - I think I posted a few links to some they were involved with back in the 90's. There are even some criminal convictions for fraud mixed in there.

Their Cholla process is garbage. Gold does not exist in economic amounts in coal. Proximity of a coal deposit to a gold deposit is rare (geologically speaking). And even if you did have that scenario, it does not mean the gold would somehow end up in the coal. Makes no sense geochemically.

One more thing. I know some small miner folks who have had the misfortune to get involved with RYMM, and believed RYMM could somehow squeeze more gold out of their ore concentrates. Never happened, and in fact, RYMM absconded with the drums of concentrates. They are scoundrals and the sooner they go bankrupt, the fewer people they can screw. Of course, they'll pop up somewhere else.

[mdb1]

Why did they spend the money to expand in Scottsdale? That decision seems dumb to me.

[mdb1]

gitreal,
I actually believe that it works/sort of. But its not consistent and is definitely not cost effective. It could maybe work profitably in South Africa. If there is a coal near major gold deposit, then that fly ash may contain gold.

But so far RYMM is fast track to bankruptcy.

[gitreal]

I am aware of their claims. I am also aware of their management's ties to other mining scams, and of the criminal record of their metallurgist (involving fraud).

Not sure from your message if you are a "believer" or not, but an ounce of gold per ton of fly ash?? If true, that would make gold almost valueless. There are piles of fly ash in this country millions of tons apiece, and in fact, one collapsed a few years ago in Kentucky (or was it Tennessee) and caused a huge environmental disaster.

There is no geological reason for gold to be in coal to begin with. And no evidence that it exists in coal or its waste product, fly ash.

If you have time, the following links are great reading! Really shows the extent of the network of scammers still in operation out there (including the fine folks at RYMM).

http://www.ntc.blm.gov/krc/uploads/317/US%20Vs.%20Pass%20searchable.pdf

http://www.siliconinvestor.com/readmsg.aspx?msgid=19022458

[mc67]

got in way back when they were sifting through the dirt at old mines.. don't know what happened.. ? 1.500 shares (it was much higher then).. will bail at the 1st sign of a R/S

[mdb1]

Gitreal, Rymm has been claiming for a year that the chollera process WORKS in recovering gold from fly ash. They said in some proof of concept runs an ounce gold/ton of fly ash.

[gitreal]

You're surprised it doesn't work? You think it's strange that they can't squeeze gold out of fly ash?

You do realize what fly ash is, right? It's the crap that is leftover when coal is burned. Why, geologically, would there be any gold in coal or the residual ash?

Of course it's a scam! And apparently not one that has many people fooled.

[sandtrap246]

Interesting scam. Very creative. These guys must be modern day alchemists from the 'old' school....swap in a couple of nuggets, and they're off and running! LOL

[mdb1]

Chollera process produced ZERO revenue in last 3 months from fly ash. Conclusion: it must not work???

Seems very strange.

[mdb1]

Stock hit $.0002!!!.

[SuperC]

RYMM .0071/.0095 now http://www.profitspi.com/stock/view.aspx?v=price-and-chart&p=22216&i=RYMM&pv=recent-symbols&pp=RYMM#&&vs=634850616308179586

You see volume like that anywhere in the above chart?

Still just having a look....

sc

[mdb1]

Stock price should of collapsed to below 1 penny.
RYMM is losing $hundreds-of-thousand with almost no income.
What is keeping the price up?

In my opinion, company is on the verge of collapse. Isn't it?

[mdb1]

Don't see how RYMM can survive another year.

[gitreal]

Quarterly report out. Still no revenue. Still claiming to be able to extract gold from fly ash. Nobody but them can detect the gold, nobody but them can extract it. Does anybody really believe any of this? How long will this charade go on?

[mdb1]

Ok it was probably more like 2 million oz, but they have tripled the size of recoverable tailings, so from the original amt (what 15 years ago), it probably close to 6 to 8 million oz of gold available from the tailing from late 1800s gold rush in Colorado around Cripple Creek/Victor. Also they have recovered 6 million oz from mining the old Cresta gold mine with another 6 million available.

[gitreal]

12 million oz. of gold from tailings?? I'd like to see a link to that information, please. I am not saying that gold cannot be won from old tailings, but that seems a bit much. All-time, total gold production in Colorado is around 45 million ounces, and I find it hard to believe that 12 million of that is from re-working old tailings.

You are right about RYMM - prospects are dim for these scammers. Gold from fly ash? You know what they say about a fool and his money.......!!

[mdb1]

In Colorado I believe, they have recovered over 12 million oz gold from old mine tailings. Cyanide leaching I believe. And there is an equal amount still left to reclaim. Very profitable with gold over $1700 oz.

But imo propects for RYMM are very dim.

[gitreal]

Seawater is a good example, and there have been scams run over the years that claimed to do exactly that. Currently, there are folks that are claiming to extract gold from fly ash (coal ashes), volcanic ashes, lakebed clays, smelter slag, and old mine tailings.

The latter two examples (slag and tailings) are actually possible, but unlikely to be cost-effective since the old-time miners generally did not leave enough behind to be worth processing, even at today's gold prices. But, always a new crop of investors who have a dream......! If it sounds too good to be true, it probably is.

[kzivann]

yep ... you can extra gold from seawater ... costs ten times what it is worth ..

[gitreal]

There's a few atoms of gold in just about everything, including sewage. Doesn't mean it can be recovered at a profit. Producing gold from fly ash is about as obvious a scam as there is.

[kzivann]

I read somewhere that there was gold in raw sewage ... maybe the process can get gold from sh#t

[gitreal]

If it isn't, it should be.

These guys have a long history of scamming and their latest thing, gold from fly ash, is really pretty comical. Hard to believe anybody falls for it, but apparently some people are really that gullible.

If there was that much gold in coal, would power companies be burning it and piling the fly ash up in huge piles? And if their "Cholla Process" really works, won't that mean the end to the value of gold? Can you imagine a world where gold is suddenly worth a fraction of what it is today, because all the fly ash piles in the world are being mined for gold? It's ludicrous.

[mdb1]

Is this stocking more or less dead?

[mdb1]

Spending $400K to make $6k is crazy even if the process works. Why isn't this stock at $.005?

[gitreal]

Chain of custody? Do you think there is something magical about those words that validates everything in the news release? All that means is that there is a continuous documentation of who was in possession of a sample, from beginning to end. It does not guarantee how the samples were collected, the reliability of the parties that possessed the samples at any given time, or the validity of the testing methods/results. It is a meaningless term in the context of a company whose proprietary extraction process is garbage, and who claims to extract gold from fly ash. Give me a break!