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Know0 I will be over the moon if we get an offer of 50p+ as you said ..lets see
The debtors will take over the company assets and the shareholders get squat.
So yeah, takeover... whooooo..
Buetigeruk has summarised it quite well.
If current shareholders get 5% of the current shsre price they will be lucky.
More likely the debt holders will take the asset and RMM ceases to exist.
****ed that I sank 7k into this two week's before that RNS and after that super positive, lying, RNS in July.
If by best time ever you mean they will be bought out at a decent price and new owners will have cash to lower costs also then yes I agree.
If the capitulation in SP has forced BOD to realise they are not the people to run the company and take one of the offers that no doubt they’ve been courted with this past year then agreed.
Again, those talking about NewGen taking the asset or going bust, really have no clue.
Hopefully will get the chance to add more at these prices
DYOR
Please educate us master Yoda
You guys have absolutely no clue how business works clearly.
TB out drinking wine at Claridges...... cant be that bad then!
Have a listen from 12.50
The debt in the company ranks senior to the equity - in fact equity has almost no power at all when the business moves into financial problems.
1. Administration - the debt owners negotiate a refinancing package, and that wipes out all shareholders at say around 20:1 - or even completely, but if you own shares you can at least divide by 10 their value.
2. New Debt to provide cashflow - OK so the current debt owners add extra debt, but it will be on a very high interest rate say 15% and at a massive convertible rate of say 5:1 or something - so the current equity holders can divide by 5 to 10 times.
3. Asset Sale - OK so the current owners of the business (thats the bond / debt seniors at this stage) equity have lost control - go to the used copper mine market and sell, but the debt holders have first call on any cash that is raised and the equity owners dont get it until 100% of the debt has been recovered as the other debt and bonds have seniority - so how much would be left?
Most people here have forgotten the company has debts and they need to be added into the equation.
Thanks Blue
Amazing that the hope still courses through the veins in here...... predicting offers of 40p+, 50-75p etc are just hilarious. Surely the more likely option is NewGen allow RMM to go bust, then pick through the scraps with the other vultures who are surely circling now? What about the dilution that would likely come as a result of NewGen, or anyone, stepping into save RMM?
Offer is coming @40p+ ....just few weeks ..
Apologies for sounding rude but just read the RNS. Even Moon has the common sense to do that. If you’re invested I’d expect people to at least do that!
From their website
As noted in the Company’s interim results, announced on 26 September 2022, repayments of capital on
a loan balance of US$16.4 million provided by NewGen Resource Lending Inc (“NewGen”), the Company’s
principal secured creditor, are due to commence on 31 October 2022. The Company has been in active
discussions with NewGen to defer or reschedule the repayment of its loan, which is intended to form part
of a wider restructuring of the Company’s finances. However, an agreement has not yet been reached to
defer or reschedule such capital repayments.
Accordingly, the Company’s ordinary shares will be suspended from trading at 7.30a.m today, pending
clarification of the Company’s financial position
No idea and silence from this board worries me hugely
Any ideas what is going on?
Moonie. Keep taking the happy pills
Moon you are a Narcissist.
Not yet my name be there but soon depend onnnxt move
When did a situation like this ever result in a bonanza for shareholders?
Trucky - You may well do. Get your name on a TR.1 RNS for a mere £270k these days….. the plot chickens ….
You know nothing moonie. Still waiting to see moonie in an RNS. I really Don't think you can buy RMM with tesco vouchers
That what I said best time ever for rmm
.... cont
fundamentals are what you invest upon and Rambler fundamentals are wonderful - now lets get that new racing driver a seat
GLA and pls DYOR