London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
You will only have one login account. Registering with multiple accounts is not allowed. Any user found to have more than one account on this site will have all, and any future accounts suspended permanently.
Your email and password must only be used by you. If a post is made under your account, it will be considered that it was posted by yourself.
Your account nickname must not be the same, or contain, listed company names or board members' names.
While debating and discussion is fine, we will not tolerate; rudeness, swearing, insulting posts, personal attacks, or posts which are invasive of another's privacy.
You will not;
discuss illegal or criminal activities.
post any confidential or price sensitive information or that is not public knowledge.
post misleading or false statements regarding the share price and performance. Such posts are deemed as market abuse, and may be reported to the appropriate authorities.
post any private communication, or part thereof, from any other person, including from a member of the board of directors of a listed company. Such posts cannot be verified as true and could be deemed to be misleading.
post any personal details (e.g. email address or phone number).
post live price or level 2 updates.
publish content that is not your original work, or infringes the copyright or other rights of any third party.
post non-constructive, meaningless, one word (or short) non-sense posts.
post links to, or otherwise publish any content containing any form of advertising, promotion for goods and services, spam, or other unsolicited communication.
post any affiliate or referral links, or post anything asking for a referral.
post or otherwise publish any content unrelated to the board or the board's topic.
re-post premium share chat posts on regular share chat.
restrict or inhibit any other user from using the boards.
impersonate any person or entity, including any of our employees or representatives.
post or transmit any content that contains software viruses, files or code designed to interrupt, destroy or limit the functionality of this website or any computer software or equipment.
If you are going to post non-English, please also post an English translation of your post.
If you are going to post non-English, please also post an English translation of your post.
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium and Verified Members
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Monkeydluffy, the only dilution mentioned, that would be relatively immaterial and unconcerning relates to the outstanding warrants. The choice to exercise them is with the warrant holders not the company. I agree with you that I think the probability of the company choosing to issue more shares themselves is low. I’ll go and buy my t-shirt now.
"Order your Rambler for life t shirt and mug at the Rambler website. We take no responsibility for any excitement generated during this announcement. Please remember to DYOR and any and all opinions expressed by anyone except yourself are completely biased."
This talk of dilution is a possibility only. Not a certainty. Ill tell you why.
When they start selling the copper and making millions in profit then there's no need to dilute. When they've proven the workforce is capable of getting said copper in bulk they can start hiring more staff to train up to feed the new equipment coming in. Making tens of millions In profit.
When the staffs fully trained up and on time for phase 3 they can get more plans in place to open the other mines again and start pulling in more equipment and staff. Also explore a bit.
Do you see where I'm going here?
If he's a competent ceo which i think he is he's likely to keep the shares the same.
If he's an excellent ceo he's likely to condense the shares down due to peoples perceived fear of high shares in issue. This alone would make the share price go up. Shows confidence and future planning.
I'd say 25 percent chance of dilution at best. If a problem crops up. V unlikely.
Order your Rambler for life t shirt and mug at the Rambler website. We take no responsibility for any excitement generated during this announcement. Please remember to DYOR and any and all opinions expressed by anyone except yourself are completely biased.
Thanks. Based on the warrants issued and exercised since the share restructuring announced on Nov 13th last year by my calculations the unexercised warrants stand at 1.1 billion. I can’t imagine any warrants issued prior to the restructuring would still be exercisable either due to time limits or because of a likely much higher exercisable price. Therefore, the numbers and points I raised before all stand. I.e. when all the warrants are exercised they could result in net dilution of between 5 and 10% but for medium and long term holders that dilution should be set against a targeted increase in value of the company of 100 to 300% (a Mcap of £100M to £200M). If the copper price rises as predicted by many sector experts and the targeted production rate increase is achieved, even a Mcap of £200M could look very low in a few years’ time (see Cornish’s excellent calculations, from Friday I think). The potential upside is huge based on the equity and funding in place (there could be more funding required for exploration but only because the upside there looks enormous too and I would hope that would be funded from free cash flow over the next couple of years). So now we just need a competent management and staff optimising the use of an updated, fully operational mine (I’m sure there are significant opportunities to improve the efficiency of operations and bring the cost of production down too)and in my opinion I believe we are getting close to having that now.
Hi Dubbs, thanks for the reply. If you look at the RNS 13 Nov 2020, all the info is there. It was part of the restructuring of debt. There also was additional warrants in a later RNS. It's all in the excellent video the 2 chaps did. I've looked through the RNS's but not many have been exercised. Unless I've missed something, there is definitely over a billion warrants at .2p
Ps. If the no. of outstanding warrants is 1bn (based on your assertion that the company would receive £2M and I guess the least they would be exercisable at would be 0.2p) then that would result in a share dilution of c. 9.3% for a cash receipt the equivalent of c.4% of the market cap. So logically, with a dilution greater than the value it would generate then, it would be better for us shareholders for the warrants to not be exercised. However, they will of course be exercised and I actually think the company is in such a strong position now to create very good added value from using that £2M that I would conclude that I don’t mind when they are exercised because I absolutely plan to be a long term holder. I think the company over the long term could use the £2M to generate more value than 9.3% of the Mcap (c. £4.6M) so I’d prefer them to be exercised sooner. Day traders may have a different view. However, as the company is so clearly undervalued, I also think the warrants, even at a billion, are not a concern. I think the company should be valued, by the end of this year, between £100M to £150M. At an average of £125M the SP would be 1.17p. If all warrants are exercised the SP would fall to 1.07p. I’d be very happy with either!!
Hi all. I've only been in RMM since Feb.(holding 42.4 million and adding) It seems a different beast now. Some great posters on this BB. Would love to know what investor's opinions are on the warrants. Its the main thing that bothers me about RMM. Would it be better for us all if they were exercised sooner rather than later? Every RNS costs money so hopefully they get exercised in big chunks. 1 positive is its an extra £2 million+ in the bank. Would appreciate any feedback thanks! Enjoy your weekend all...roll on Monday.