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I just done chart if we not gonna hit 13p area then we sink.. but what is interesting here is buying few month back much stronger then sales on Friday. All call me mad. But I believe with out support we could sink lot lower then 8p.
Learnings
1. Eason Chen is a muppet and was completely out of his depth.
2. Following production numbers is all very well, but ultimately the only metric that matters is profitability. Oh, and cashflow.
3. Don't get sucked in by +ve noises fro m the company, or posters on here who are permanently uber bullish
4. Its not comms that matter, ibut performance.
True that
My learning has been to look out for specific ways the company chooses to engage with the investor base and the language used in said comms.
Rambler have proven time and time again they DGAF about individual investors.
If you look at the volume sold vs bought it’s marginal! Yes, some of this may be incorrect but this certainly doesn’t warrant a near 50% drop. I’ve fuming over this RNS, it’s unprofessional, vague and does nothing but makes the team at RMM appear incompetent. I do believe the price will bounce back a little next week to near 15p however. I guess we will see.
I think it was oversold on that RNS, stop losses being triggered maybe? Could be bought up by investors next week and rise from the current price, we will have to wait until Monday morning and see how the market reacts?
My only hope here (70% down and counting I guess), is that Volkswagen see the For Sale sign and throw a few passats at it, (that's if they're serious about aquiring a few Canadian copper plays). Absolute sh..t show. The management should be ashamed of themselves, but clearly won't be. But hey ho, my investing is my responsibility. Lesson learnt. GLALTH
It will bounce back next week as it was overdone .people will realize soon .15p ...
This won't get solved over the weekend otherwise there would have been no rns yesterday. What will they know on Monday that they didn't know yesterday? As for a 50% dilution, that would provide less than 6 million dollars which I am guessing is way short of what they need, despite TB saying he was "comfortable" with the capital structure as recently as July.
Today’s copper price obviously includes a large element of the market’s assessment of where the spot price is going in the future - particularly as the “copper price” we all look at it is futures for delivery Dec 22. People can disagree with the market, of course
I sold out yesterday after reading the RNS, taking a 50% loss. There is a lot of optimism on this board that copper will to $4.5+ and thus the SP is oversold.
I can't see any copper anywhere near $4.5 until energy prices are reduced. High energy prices kill growth and investment. Interest rates are rising, so restructuring the debt will not be on favourable terms.
We are about to enter a global recession and so I would expect copper prices to dip unless the chinese economy has a continued growth phase.
I hope copper does rise as I hold several other copper stocks, and will accumulate divis, and build a cash position for the next few months.
It was shame as they have a great asset, but poorly managed.
Ce11
Who is the biggest share holder?
As said am doing chart today see we’re it may go. 8p is my double down price and I will sell all my shares in ufo prem to put into here. Then be top 1 percent
Company’s website has financial statements as at 31 Dec 2021
Multi my friend good post .so you accept that we will be in very good position once debt restructuring done and in few weeks copper will be shoot up .by December we will be reasonable good position and by April/ may sp will be 30p+ when everything sorted for long term and we will sell copper in high prices (could be $5+ as Cornish recon ).they just need to confirm Monday how they manage the fund ( of course they arrange something ) .if we dilute 50% that gives us 241 million shares .if we produce 7000@ average 8000thats 56 million from copper .if we make 16 million profit with 6p/e that's give us $96 or £83 million market cap
83 /241=.34.5 per share even we dilute by 50% ....
By my reckoning the company owes Newgen $17.3m with interest of 8% plus greater of 1.75% or 3mo LIBOR (currently at circa 3.2%).
Does anyone know if the company has any other outstanding debts?
Fair enough, I do get where you’re coming from to some extent
@metal.
Fair enough. Wasn't really aimed at you frankly. If you are catching up see the posts later yesterday after the RNS. Personally I think they lack class.
Strummer, I sold yesterday but it was a tactical risk-limiting move done without minutes of seeing the RNS. It’s not necessarily a final decision, and subsequently I have spent lots of time carefully considering the matter. I don’t see why I shouldn’t discuss views with others on this forum while I’m thinking
I would only add that while copper (and all commodities) will be a safe bet in the long term in an inflationary environment (their prices generally keep up with inflation, and copper should be in high demand), in a recession in the short term demand can collapse, and copper could go down to MArch 2020 levels which is around 40% lower than current price. So they need enough headroom to cover a short term slump. This can be done through lots of cash, or hedging. I would think the CFO is working on a package of measures. All to play for, but it could be squeaky bum time for a while.
I agree strummer about what you said you think the issue is. I think previous CFO leaves and new CFO drains up uncovering a pile of poop etc. That's what I felt yesterday.
If they are going to pay off (restructure) debt to lower payments, to have capital to do improvements to lower cost of mining, shore up balance sheet, catch up on payments on accounts etc and resolve this on a permanent basis then we're talking significant money. Many multi tens of millions IMO..
The question is if they can do this via debt and if not how much equity. I'm uncertain in this regard. Clearly they'll favour debt, it's whether it's too much for NewGen or other lenders etc. On the flip it can be asset backed depending on any existing agreements etc etc
I'm sure there is a million creative ways a deal can be structured. It'll be a waiting game.
Toby hasn't strengthened the negotiating position with this RNS though.
Equity raise could be 50% could be 100%, could be 0%.
It worries me when people keep asking for info and target prices from others on these boards as they simply won't know. No one knows. This is the issue with the RNS.
Atb everyone
Extract 2:
rescheduling the repayment of longer term debt to better match Rambler's operational cash flow generation [IS THIS A REFERENCE TO NEWGEN AND DOES IT IMPLY NO ACCELERATION OF THE NEWGEN DEBT? (COMPARE ABOVE)]
My thoughts:
Two things I think it could be
a) either 'reschedule' is to be taken at face value and it IS to do with NewGen i.e. they accelerate the existing debt by reorganising longer terms on a larger debt with NewGen and accelerate payback of the current arrangement...or
b) they are jusmt saying any new debt (loan) will aim to be on more manageable longer term repayments that are more sustainable (but may not be with NewGen). It may just be bad use of the phrase 'reschedule'...
My take on this would be they want to roll up interest/ capital repayments for a period, and pay more later when profits increase. Basically working capital is too low to fund operations and the debt payments. They are at some risk probably of going bust, but they could also spend less on exploration and just concentrate on mining what they have. My feeling is TB is looking to make a step change up with Ming and start up Little Deer. He has proven the mine can produce A LOT MORE, and now wants to accelerate things to make his millions (and ours potentially). He has talked about listing on TSX, that is where I think this is headed, and what the CFO is working on between now and end Sep.
....that bad ...
After fund rising complete the company will come better financially as we will produce more copper with higher cu price in coming months ...I hope they could manage new gen for more money in longer repayment period ...as our operation side is working good it can't be that ..what do you think multi ?