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I'd disagree with that assessment canetoad. Why? Because of the metals price cycle. If you want to assess profitability you need to assess with regards to position in the price cycle which is longer than five years.
@BiggL: "Not to overlook the price of copper, another game changer!"
Sure. I agree. It is a game changer. I'm a massive copper bull. I have significant holdings in Atalaya, CAML, Lundin and Capstone. But all of those companies are loaded with cash and/or have no debt. I am also very hopeful about RMM, if they can get over the current hump in the road. If the RMM fundamentals improve, I'd have no hesitation in sinking a large wad into it.
@Cornish: " You didn't say every year shown on stockopedia"
This is nothing about Stockopedia. It's about the official LSE/Refinitive data. But thanks for pointing out that there were profitable years prior to 2015. To be fair, I think that 5 unprofitable years in a row is probably the only relevant matter history-wise though. Generally speaking, I would discount anything that happened more than 5 years ago.
MM has only ever been mined from 1 stope - they now have more than that and several intended to be opened by end of year - THAT is the game changer her
‘Only targeting a production target of 10,000 tonnes of copper at its peak in 2024’! If and when that’s achieved the company would be worth $200M+. That’s what I’m willing to wait for. Toby Bradbury is looking to accelerate development and growth beyond that level too now. We just need the financing finalised!!
2014 - $13.5 million profit. 2013 $3.0 million profit. You didn't say every year shown on stockopedia or in tge last x years - you said NEVER - which is factually wrong, that Is all I picked you up on.
@Conish. As I've mentioned here many times, I am bullish on RMM. I do NOT want them to drop. I want them to RISE. Only an idiot would want the price to drop. I have NO plans to buy more RMM just because they drop. I would only buy if the fundamentals had also improved.
Regarding the profitability. Here are the figures from Refinitiv (owned by LSE) and used in Stockopedia (figures in $m):
2015, 2016, 2017, 2018, 2019, 2020
-12.8, -2.74, -4.15, -20.0, -13.5, -1.76
i.e. EVERY year shown is a loss. I admit that it is possible that they might have made a profit prior to 2015, but I would say that 5y is a good indication. Furthermore, here is what Peter Rose of Brandon Hill Capital says about Rambler:
"Rambler Metals (Mkt Cap ~£24M) produced circa 4,000T in 2018 from an underground operation in Newfoundland,
Canada. The Ming mine enjoys high copper grades and by-product credits but makes a loss predominantly because of its
small scale and ore has to be transported over 44km to the mill. Whilst it is in phased growth it is only targeting peak
production of circa 10,000T Cu in 2024."
Good luck everybody.
Fuk good post pal .. Something to cheer me up that , best to take the approach of hold and look back here in 6-12 months hopefully things will look alot different
CaneToad. I disagree entirely.
I'll make my own assessment of risk though to be fair. Rather than judge by 'stockrank'' or whatever Lol
You're welcome to a different view but going on stockrank doesn't equate to research!
As I've said plenty other companies without what RMM have and a darn site larger valuations. Not even producing or proven resource, no infrastructure, permits, high risk juristictions and nauseum. So your attribution of pe ratios and such don't hold water.
Markets I'm afraid don't work that way.
Besides, I'm sure many have lost a lot of cash in very low risk stocks! Nothing is a sure thing so I'll happily stick to higher risk, higher rewards where I've personally assessed the chances of success are greater than the current value being attributed by the market. Rather than the other way around
Atb
"They've never made a profit". I suggest you check your facts as that is completely inaccurate.
@Fuku: "I think labelling it as 'ultra-high-risk penny-stock gamble' is a bit strong to be fair!"
Nope. It's accurate. They've never made a profit. Stockopedia has them with a StockRank of 18 (range is 0-100, with 100 best). The finances are shaky. They have a long history of shareholder destruction. I'm happy to invest here in small size though as I'm bullish on copper and I see decent upside *if* they can get funding and *if* they can start making a profit. But they do not yet deserve a large capital allocation, because even with all this funding, it's going to be a very long time until they can pay a dividend and the market is not going to value them higher than a P/E of 3-4 until they do that. Have you looked at what the price of Lundin, Central Asia Metals, Capstone, Atalaya have done lately?
Different strokes for different folks and all that I guess CaneToad.
Clearly RMM is a high risk / reward stock. I wont add more capital here as I have more than sufficient exposure but RMM has lots of positives to support the view of it being a successful turnaround.
I think labelling it as 'ultra-high-risk penny-stock gamble' is a bit strong to be fair!
I can think of many companies still in exploration, without any infrastructure, or proven resources, in high risk jurisdictions, and no financial certainty etc etc that are valued higher!
Each to their own though.
Atb
I would only look to buy more RMM shares after seeing (a) the funding signed, (b) the mine plan progressing well and the (c) the latest finances. Anything else makes this an 'ultra-high-risk penny-stock gamble' rather than a 'copper play'. There are lots of good copper plays which are at rock-bottom prices, including Capstone, Lundin and Atalaya and all of these have impeccable finances and cheap valuations.