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Consolidation announced then shortly after we get wind of possible dilution - why else mention specifically keeping shareholders informed - all being stage managed to my mind
The RNS stated that ' the Company is investigating financing options'. Suggests a loan rather than a placing.
Most likely to raise the cash from Little Deer
am dissapointed to be fair love rmm lot I do understand work needed upgrading. bit I don't like is more cash needed. how much number 1 ? number 2 ? is it going to be new debt.... number 3 point I said ages ago they need more money to do little dear whale back... unless Jv come in.. now bit I like is that copper price is very high rmm will get more money they need not worried about that....
The quote from the RNS reads....'The Company saw improved development in Q1 2021 achieving the highest quarterly results since 2019. It is anticipated that the rate of production to achieve consistent full capacity utilisation of the mill will be achieved by year end.'
This is very positive and the target production will be achieved by using sub-contract labour. After a slower start at the beginning of the year short term finance looks to be needed to do the catch up. Given that RMM are producers and copper is flying there should be no issue covering the short term cash issue on favourable terms. Early cash injection from a potential JV perhaps.
Wouldnât be surprised to see a royalty deal signed on Ming and potentially weâll see a JV on Little Deer & Whalesback mines. This would provide more financial clarity. Production and mine improvements slightly delayed which is proving to be a larger drain on capital but overall I feel todayâs news has more good than bad and Iâll buy any dip today. At ÂŁ55m this still sits way below itâs true value. GLA
Going, patience wearing thin is it ?
question u must be asking how much money is needed now to invest again. if another 10 million well this will be new prem.. they have 17 billion share we have 10 billion haha.. long term rmm is great but disappointed really
Or anty here is an alternative view, the short term punters will move on and the people who see the big picture will buy in. TB clearly doesnât pump his RNS up like others on AIM - key takeaway for me is that we will have another mine in operation as quickly as possible âretaining a substantial interestâ with some kind of JV happening soon. A few weeks ago the mothballed mines werenât even really a thought. I have just added some funds to the wifeâs isa to take advantage should the opportunity arise
Clearly some leaks with drop yesterday.
Bear in mind that is Q1 - we are nearly half way through q2 now. Work on the turnaround didn't start until pretty much days of q1 due to Christmas, the mine has been dewatereed, a lot of equipment gas been fixed - that is apparent in the mill performance. Development was barely in front of mining, tfat is going to take time to rectify.
WANT DID I say they need more cash.. did say this everyone was telling me no haha
âTo ensure the Company has adequate funds available for both development and working capital through this production ramp-up period, the Company is investigating financing options. A further update will be made to shareholders in due course.â
I was struggling with that comment too....they dont need more cash.
RNS looked good on brief scan over.
Only 2 reservations
1. Lower 2021 guidance
2. More cash needed soon