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If I had the money I’d bail RMM and all it’s stakeholders out.
I’d offer you all 30p a share cost me £45m for the company as it is , plus pay off the debt and invest in an ore sorter….Job lot £75m ……if someone did that they’d make a fortune
What is frustrating for me here, is so many were opposed to hedging when copper was at nearly £10k.
Get 60 million loan for ten year @ 15% interest on which we have to pay 968000 per month. repay existing debt ,fix ore sorter and keep rest as working capital to run company smoothly .we r now getting 700 ton per months @ 8000 we got 5.6 million from copper per month.we can pay 1 million to debt repayment as there will be no more debt and with ore sorter we will produce 30% more 900 to 950 per month.
Who will provide us 60 million ? Find 3 big fish ..@ 15% interest they will provide 20 million .it's the job of CEO ,CFO and other board of directors to find big fish that's why we pay them big money...if bank can lend us million pound over 30 years @3% interest when we have few thousand pounds income ,big institution can give @15% interest ......board should have done this ......just my smoking thought..
Agreed. Xenor
I think the mine is profitable at the current copper price but the high speed of development on top of that is not. This has led to a shortfall for projects such as the ore sorter.
The RNS was worded terribly and I'm not surprised the share price collapsed, but I think it has been oversold. The mine is in a much better position than the last time they made an RNS like this.
They need to pht a halt to development for the next 6 months and get the ore sorter built as a priority. They need to refinance the debt and borrow more. They hinted at doing this earlier in the year already.
Of course there in a mess , short term ,until restructuring of debt is sorted.
What about the wait we had in November to December 2020, it was worse then.
Now it’s a refurbished mine and remember the copper now is coming out of the ground
202- it was flooded
The fundementals of RMM , the resource and grades speak for themselves. The issue as I see it , is can the mine operate profitably .
Without a defined ASIC figure we are all in the dark.However , from the recent RNS ,weak state of the balance sheet, the drop in Cu price all indicates an ASIC of probably $3 /lb or there abouts. With the Cu price around $4/lb RMM was at least break even / profitable .
I feel though we have travelled along way ,alot more needs to be spent or Cu price rise significantly to make the mine profitable.
Perhaps the BOD SHOULD consider selling ?
I've been here a fair while now and like many here very underwater ! So for me it's do I swallow the significant loss or keep the faith and let time in the market work its way through !
It is CE Mining 111 Rambler .CE 11 have gone
Mills will save this and profit
Following the investment by CEII, Rambler is now fully funded and ready to move into its next stages of growth.“
Have held RMM for some time and, perhaps wrongly (time will tell), topped up on Friday to lower my average price.
My own, rather simplistic and probably ignorant, view of the RNS is that we have a proven business in terms of the mining operation itself (with multiple stopes now open so we're no longer a 'one trick pony') but we need to reorganise legacy (and other) debts to make this work. Will be an interesting few weeks ahead bit I certainly haven't given up hope.
Can they suspend share tomorrow to stop it going down ? On Eua smething happen like tht
Ore sorter and they are still trucking 70% to get the concentrate out.With a mill on site they only truck the conentrate ,about 25 %.Doesnt increase copper output though.Hope it isnt all academic now.The Duck Pond mill they almost bought may prove to be a very expensive near miss.
https://www.ft.com/content/2928cc18-e6e1-11dc-b5c3-0000779fd2ac
Hi Johnny,
I think Broker's understanding and mine are in step and what you are seeing is just private investors aggregated up.
There might be a few wrappers in the list you kindly shared however.
Best wishes,
Prof
Brad Mills is the largest holder, after that it's basically lots of us via IG, HL etc etc... The fact that Brad Mills is the chairman and largest holder was / is a big factor in why I bought and stayed invested here....
My understanding is these are stocks purchased by HL to then allocate to their own 'wrappers' and products. I am not sure though that was just my assumption.
Thanks Johnny,
But aren't many of these, for example HL, just the nominated holder for whole number of small private investors?
If I look at the company fact sheet on the Rambler site is shows the two biggest holders as being:
E Mining III 27,107,090 17.03%
Aether 5,258,375 3.30%
What do you reckon?
Best wishes,
Prof
They are listed on the FT's website
Here is a screenshot
https://i.ibb.co/pxxnGRv/Screen-Shot-2022-09-11-at-16-18-21.png
Hi Johnny,
Who are you referring to on the institutional shareholder list please?
Thanks,
Prof
bought 2.1 million in stock here in the last 6 months.
RMM has a decent list of Institutional shareholders which is slightly reassuring in terms of survival and potential recovery.
From the report linked by AJones a few minutes ago (written by one Toby Bradbury) and dated 18 Aug 22:
"The true value of Rambler makes the current balance sheet, as well as future capital growth requirements, eminently manageable issues from which shareholders can realise significant upside".
I remember discussing RMM with a very senior member of this BB a couple of years ago. We agreed that despite all of the negatives experienced, it was a share with a future and that we were quietly confident that it would boom.
Some very interesting points and conclusions (maybe) on this BB over the last 2 days. Apart from all of those, I think that disappointment in the BoD is palpable.
Very difficult to sell out (my holding is minute compared to many on here) so almost reconciled to losing the lot in the worst case.
Absolutely disgusted and diappointed!
They wont do that as all that achieves is delaying the inevitable. What we must hope for is a resurgence in the copper price, the last few days have been a bit more encouraging. But by the sound of it the BoD has made its mind up to strengthen the balance sheet in any event.
Is my understanding right can they suspend share say they need deal ? To stop it crashing more ?
I watched every trade since the rns and the lowest buy was the last one,which indicates it will go lower
Have to admit that I concur. I was an investor years ago in the George Ogilvie days, got stung, and more recently foolishly came to the conclusion that there was a viable recovery situation here. Apart from any other consideration this is too high cost, trying to compete with third world costs being paid by competitors. I can't say I am optimistic