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anyone invested in palantir here ?
got the feeling from this below taken from rns of last small placing and its only imo guys just sharing thoughts
The support in this equity placing from West Face, our current senior lender and a significant shareholder, is indicative of the value that our stakeholders see in Ramble
Plus Blue
TB has probably learnt very hard about the CLN 10% drop every time they are converted into equity and factored that into the cost of using Riverfort
Hi Blue
if its a quick small one like the one with west face recently (which was done to cover the last financing closing extension) I'm pretty sure it was done on the cheap as they know each other well imo
Hi 2 Phevs
I presumed that a placing, however small, would be more expensive to arrange than drawing down on an arrangement you already had in place - but then, I don't know.
Always happy to learn.
Cheers
forgot to put "imagine" after "would" in last paragraph sorry
also should of mentioned TB may of extended the reporting to make sure everything is spot on.
there seems to be a lot of mistrust flying around this BB recently
I was personally concerned on the 11th September when hurricane Larry made landfall near rmm's facilities possibly causing huge damage and flooding
I started researching local news and media the pictures and reports were not that bad but was preparing for a rns monday that could blame the hurricane for any issues rmm were having but nothing came out thank goodness
Possibly we could be in for another extension of the finalising of the financing and that could mean another (for overheads) small placing (cheaper than Riverfort CLN) or another drawdown on the CLN if placing price would be to low who knows if we had that sort of information we would be insiders and couldn't trade that info
TB has an engineering background I believe and after the DD hammering he's probably had from NewGen I would he is following a very tight path of open market information and being very precise in actual results and guidance after their NewGen grilling DYOR GLA
Their too much more to explain but I kwn something not right...
Thomas GTM
Nope, you still haven't explained to me why a placing will be needed now. If they need cash urgently, they'll surely use Riverfort. Why have it in place AND then also do a placing - I don't get it.
Re 7% of workers affected with C19 - thats about 20 people. If they are contractors there's no sick pay - they're employed by someone else (a small 2 week delay maybe to exploration / production). C19 may, or may not, be relevant. Shouldn't affect the financing though. I doubt anyone working on it is in Baie Verte.
Thanks for sharing though. Blue.
GLA.
plus rns are funny strange 7 percent of work force. then 14 percent so on. something not adding up. do i exspect newgen to come though yes but i feel something has happened. at the rate that rmm going they need placing to cover cost. it can go either way... sometimes Aim works funny Like ngas share were is the gas shored or ssln. not fincal advice.
I tell u something to funny when u see patten in aim company u know something good or bad. now no big buys off yet . which is showing me that something has happened long the way... the longer they are taking costing them to much. they trying to fight a battle between upgrade now now. and getting to full production. u cant do both at speed with out money. now let say 100 worker are costing them nearly double due to shortes well that cosing them to much.. placing is likey to be..
Morning Thomas GTM
You've said for some time that 'so is it looking like placing ? ' or words to that effect.
What makes you think there will be a placing?
Surely IF the NewGen financing was to fall through, it would have to be announced at the time of it falling through.
Genuinely like to know why you think RMM will want a placing. Cheers Blue.
Agree Blue-square. If they're thinking a couple of 'softening' Covid rns are a way of delivering their bad news they really are amateurish as the market sees right through such things and has less trust / confidence in them moving forward. Far better to be up-front and honest as quickly as possible i.e. if they thought the financing would slip yet again they should come out and say it as soon as they know, rather than doing what all poorly run companies do and leave it to deadline day, or sometimes after. It simply points to them being AIM amateurs. There's also the degree of gutlessness to such behavior as well. When a company gives a profit warning well in advance it gives more confidence to shareholders than companies who surprise them at interims. Anyway hopefully they can deliver on this overdue milestone by their new timings. Huge amount of potential in this company, especially at this sp, but it does need mgt to do better than what they've been doing of late. GLA
Hmmm
Not impressed
Trimmed about 30% of my modest position this morning. May be wrong thing to do, and given how deep sub aqua I already am in this little badger it's not even much of a de-risking, but fed up with crappy news and mismanagement of finances and communication.
Will consider topping up again when they get a new Finance Director. Everything this guy touches turns to poo.
U see something dont add up why. Aim is leaky if we had bigger buys we would kwn something good. But this not case. Prem ufo gwmo all had similar experience... so is it looking like placing ? Not financial advise
GGG
You said 'Let's see if they deliver the financing, because any delays to this will look quite tardy and amateurish'
What amazes me is that the 30th Sept (or sooner) was a self imposed deadline. At the time of the initial delay, they could have said 'likely within (X number of) weeks'. Why impose a deadline on yourself? I presume that TB has delegated a touch too much and has taken what he has been told by his team at face value. The FD didn't fill me with confidence or enthusiasm at the last Zoom meeting, seeming ill-prepared for the questions he was asked.
Or else......
Someone at RMM has an Evil sense of humour releasing these two RNS's when its already a done deal and they're taking it to the line to make us all sweat.
Not great of the company to delay its interims. Even worse that it happened just after I topped up :)
They way I see it they really do need to hit their financing timeline now, especially given its already 1 month overdue. They cannot use Covid for all / any delays to the timings they have provided. They still need to deliver on their words if they want credibility and trust in the market. Better to land the financing and miss (slightly) the timings on your production goals than the other way around. Only financing will allow them to improve the production profile, and if they're running at full capacity a couple of months later than expected then it's a miss but one can say they got there in the end and although the sp wont be as high as it could have been, it will be a lot higher than what it is now. Let's see if they deliver the financing, because any delays to this will look quite tardy and amateurish, which aren't sp appreciative qualities when judging management. GLA
So maybe am right something not adding up. Rmm getting worse with nonsense they putting. Not financial advise
Maybe some key members of the management team are impacted by COVID either individually or family? Caring for family would be my focus before work requirements. They cant say that publcily as there is patient confidentiality hence no news RNS.