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yes and i'm sorry you lost money. their actions in feb were a red flag for me and i was infuriated that people here didn't see it.
3 Feb '22
"i'd be a lot richer if every time i'd seen a load of people fall in love with a share and completely disregarded the shoddy actions of the bod i shorted that share. there's far more casualties around this board than people who have come up trumps in these scenarios."
dj, I warned you that this was a dodgy bod, see page 170. you weren't having it.
Agree with you Ajones.
Looks like the sellers are expecting a placing or equivalent under 6p.
nomlungu is a liar
The mine can still be sold on as an Asset! The thing is it has assets, and they will restructure and secure debt against the assets! Shareholder fund at 30p a share you would probably just about breakeven but if it does go bust (Which I highly doubt it will) Then the shareholders' funds after everything is paid out will still be towards 20p + per share! The only reason it will not be if there is a few surprise debts or unpaid taxes that we do not know about!
Pointless investors attacking each other, end off day the blame lies firmly at door at board off rambler for misleading investors with statements up until the bombshell was dropped. It's only 4 weeks ago since we were reading " rambler billion pd mine about to show it's metal" and now here we are with a mine with barely a market cap off 10 million lol. My thinking is there,s been a financial irregularity has came to light last few weeks which has threw a spanner in the works. Production side off things if updates could be believed looked to be going pretty much to plan and end off day copper price not a million miles off were we,d like to it be. It's just a complete **** show all rd from board and I agree with diamond geezer the half year results will be dropped with no chance for investors to ask or hear what went wrong and we all be left holding the baby so to speak. Don't think the sale off asset,s going to happen either, that I think should it happen give investors alot better result than what will be the end result. I've seen companies in better situs,s go under from here and ones in worse positions survive which just brings it bk to a guessing game as to were ramblers future lies!!
There are many solutions to this.
RMM is wealthy, just not cash rich, which it needs help with.
Only takes one investor/fund to come about to alleviate this situ, or even a renegotiation with its current stakeholders who are financially tied.
Exactly and their balance sheet was awful and no one would lend to them based on them having excessive debt and no assets to secure debt against!
Rambler has $73 million of fixed assets to secure debt against as well as a $1 Billion mine! So please explain how these compare.
All about the cash flow andbalance sheet.
You should check it out in that case.
Oh Weatherly International Plc - A company that had a Turnover of $75 million debt and liabilities of $137 million and assets of $100 million with a total net worth of MINUS $10 million and a working capital of MINUS $112 Million! I cannot see how that is in the slightest comparable to Rambler!
Ramblers credentials - Turnover 2021 - $28 Million, Assets $114 Million, Liabilities and Debt $30 million and a total Net worth of POSITIVE - $73 Million!
Who? Ive never heard of them?
Weatherley International is obvious evidence.
AJones are you serious or been asleep under a stone recently....
Wake up smell the coffee and give your head a wobble
Convertible loans are always an option... there are plenty who will feel the need to average down.
And what evidence do you have to support that statement??
Dont underestimate this very serious situation !!!
This as every chance of going under and being sold off piece by piece ...
Delisting just got a whole lot closer ....
Some additional TB comments in an interview by Dr. Allen Alper, PhD Economic Geology and Petrology, Columbia University, NYC, USA for Metal News.com on 7th July 2022…
“…There are feasibility studies to be done, but just to get into your investors’ minds the type of opportunities that may be there. We may look to raise some of that capital through the markets in Canada as well as in the UK, where we are listed right now. I should emphasize that we are comfortable with our capital structure for the current operations. Any future capital requirements would be for expansion opportunities only.
“…The one area, which we are still working on, very hard, right now and we will get the information together, in the next few weeks, is to give a really strong indication of where we think the Company is, from an economic point of view. As hard as we have been working on improving the performance, in the underground, we are actually working on improving our management accounting arrangements, so we have better financial information to make decisions on….
“This is part of what we have been fixing up this year, since our new CFO came in. But this is going to become a very profitable mine and we are doing this for money. There are no two ways about it…”.
On the 7th July when this interview was done, the Cu price opened at USD7,631 per tonne… today it is USD7,750 per tonne. How could they not see what might happen? How could they make a statement that “Any future capital requirements would be for expansion opportunities only”???????
Can anyone tell me what happened between say 2018 to 2020 as to why the price dipped from 200 down to what was it, 100/30p?
Is that back in the times when the BoD were giving bad information/a lack of, to it's Shareholders?
Hi Stenson, I completely agree. It seems that TB had no idea what the cash situation was... and that is really worrying. Either he didn't care to ask for regular detailed management accounts/cashflow forecasts or the CFO, almost 6 months into the role, still didn't know what was happening - both are pretty dreadful thoughts. You also question why the BoD wasn't also demanding cost information and cashflow forecasts... that says quite a lot about them. What's the betting they either decline to offer an investor conference following the results... or if they have one, they decline to talk about the financing? I now fear, based on their now proven track record of misleading statements, that they thought that the last RNS would be readily accepted by the market and are still trying to work out why investors didn't like it.
If our total costs are $3.50 to extract and $3.55 to sell, at least we're not losing hundreds of thousands, and are merely treading water. This would vastly improve chances of getting refinanced imo as it shows we can extract it, just need more extraction or a higher price to start making money.
Guess all will be clear once full figures emerge.
Good to see copper at least stabilizing around the 3.50 for now. Looks like that's around the break even for us in current climate . One thing I can't get my head round is that our financial situation a few weeks bk seemed to come as a serious shock to T.B as ourselves as investors. Surely if he had know that cash situ was was in perilous state he have played safety 1st approach and hedged at higher price, concentrated on keeping companies head above water in uncertain times instead off running before we could walk and cut bk on exploration and expanding etc , at worse possible time, or maybe he was taking the all out gamble that the copper bull run be well under way at this stage and price be sitting at 4.50 or higher. A placing at current share price looks a non runner and in any case be a disaster for us current shareholders, only outcome that provide any value for us is the long term long with reasonable terms but in current climate and our current situ any lender have got us by the short and curlies and I'm sure take advantage. I was holding out hope that the r.s.n dropped a few weeks back was clumsy written but surely if had been the case with a 70 percent drop in a few weeks we would have had a update off some reassurance to investors. Very frustrating thing is I've no doubt rambler could have been a massive success long-term if things had been handled even slightly different, so many things in its favour esp with the green energy agenda going to be massive over next 20-30 years , big question now is will we be in any sort off position too take advantage. At least worse case tomorrow week the latest till we hear our fate as this waiting game wreck last few weeks wreck your head!!