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Interesting views by @unprecidented and before that @hawaii.
As to the people that sold up, again. If they had any decorum they would remain silent now. If you continue to post the negatives it simply appears you are now talking it down further purposefully to facilite an agenda.
But then AIM shares are full of agenda types as we all know.
Let's see what the new CFO comes up with.
@mb you have no information to base this statement on. That rns was phrased to scare deliberately but no one knows what the real situation is
After reading numerous posts this seems to be the price people agree on,my question is how many of you would buy at 8/9p
I wonder whether our chairman Brad Mills who owns a big chunk of Ramblers through his private equity firms is planning to step in to take this private. Someone was definitely hoovering up shares during the fall - it was far too easy to sell big chunks. And all the doom mongers on this forum (incl. the told you so twats who sold up but still feel the need to contribute here) are aiding and abetting him to get this at a hefty discount…
It strikes me the relatively new CFO has placed a firm hand on the tiller and as such RMM, once they sort short term finance, will be in a far better place, new financial systems are now operative which gives management a weekly handle on events.
I very much doubt they will want to raise via equity at current levels to protect the shareholder base, Bradbury himself has around 1m shares bought around 25p, equates to £250,000.
One suspects previous RMM backers may be prepared to adjust their loans and could even be prepared to provide new finance, a recent example was Blackrock who, even as W Resources declared their operational performance was woeful and losing swathes of cash, offered a further $5.5m taking W debt to an amazing $80m.
You see existing financiers often prefer to support than withdraw, in the case of RMM their operational performance has significantly improved, this is a very important positive.
I think the share price fall is overdone therefore, will be a buyer on Monday around current levels, more-so as the copper price fall can only be a blip as demand continues to outstrip supply and forecasts this will further deteriorate.
DYOR
Does anyone know tbs and Brad Mills email?
Moon where do you see rmm sp by same time next year assuming we dilute by 50% ..so like 241 million shares in total.?
Bradbury was never problem. U can’t have broken dwn mine that was in state of repair and in 2 years to fix it up then covid. Remember rmm systems was all outdated. He done amazing job . He done the same style as Santa gold borrowed massive. It has to be done
Thinking about it over night.
It would make sense (to me at least)?
That we have TB. A strong turnaround technical miner, who by all evidence is now delivering in that area - tonnage, grades, new finds etc. All good.
But he's clearly not so great to put it mildly on forming Comms & specifically running the money side! Tbf he's also in a much tougher Marco environment now that isn't helping.
Unfortunately for us his past CFO seemed to be worse than him at the aspect TB needed the help in! :-s.... So recognising that he brings in a new person. Who does the drains up needed, and we arrive at the current situation, with things exposed...
Seems plausible to me at least?
So question is, can the company survive long enough to exploit the good work they have done under ground to turnaround the future highly desirable product. Or are they too far shot, going to be out of business or taken over for a pitance of the mine value.
That's the 64000 dollar question now.....
The answer to that is the one I need to think on further. To me holding or even adding here or a bit lower is certainly justified by the mine and the progress there.
But will Rambler as we know it be around to ever reap that reward.....
Investing ain't easy.
I think they mean the new shareholders (their mates) that are buying up the cheap shares right now
I don't Bradbury is the problem.
The problem was the previous FD.
"Rambler aims to conduct its business in such a way that maximises value for shareholders"......this is how they maximise shareholders value ......
Bradbury has to go for any confidence in the company to return
A decent miner but couldn't run a bath let alone a company
Has to go whatever the results
Not sold any btw - considering a top up next week but dont see the need to rush yet
Main issue is copper price here .Once copper go to $4.20+ then we will have no problem even we get a high interest loan .
Cornish where r you man .....what's your opinion on today's rns ...
One year ago we were hoping £1 by now and we r in 10p ....rmm needs to update market sooner what is their plan to raise money (placing or loan) .shame on BOD who couldn't manage rmm even we r higher production in tons and copper price than last year(last year hedge was 7700/ton).
Moon whars ur sp prediction 1 year from now? You were always right
Not that but in rmm history they finally sort out debts finally borrow big . We gonna need lot credit card loans whatever possible we need ore sorter we need new tool cost saving move the ****ing mill over asap. I say 50 million but I really hard to tell how they gonna do it how play it. Unless parnter ship
this will come back. remember, what doesnt kill you makes you stronger (more knowledgable in this case). dont stress over this it is what it is.
Wake up everyone rmm first time yes are delayed but have acutally done it have acutally show. The market they can produce and are saving money new trucks new drills it’s all about improving mine cost cutting
To add to the fact that this is not a “new problem”, RNS makes it clear that they are “outside normal payment terms” with trade creditors - clearly something that will have been occurring over a number of weeks IMO, indicative of cash shortages. Very poor situation for existing shareholders which appears to have been caused, once again, by mismanagement by BOD (IMO).
https://ramblermines.com/storage/misc/rambler1-28374-pro-1660851163.pdf
y Bradbury, President and CEO commented:
"We are pleased to have concluded this transaction at an exciting time for Rambler and for Elemental. The deal reflects a vote of confidence in the future prosperity and prospectivity of the Ming Mine as we continue our transformation."
Moon was always right.....tb is a liar,unprofessional ,worthless ceo who has no idea about how to manage finance .without giving any details how much they need and how they manage it just release a rns .."..we need money ...." bloody idiots ...down 75% now and can't sleep .during weekend they need to manage new gen to get more money for a longer term ...
Toby Bradbury, President and CEO, commented:
"Focus for us has been to fully utilise the capacity of the mill at Nugget Pond and our peak daily plant throughput during April was 1,408 dry metric tonnes. Our mining is now at a rate that can support the designed plant throughput, and we will now optimise the feed grade to the mill. We have built a valuable stockpile ahead of the mill which mitigates some of the mining risk that the operation has been exposed to over recent years and we continue to progressively build resilience into all aspects of the operation."
time to put the whisky down mate
Operational Update
Production and Developed State
· May has shown that the developed state of the underground mine has now been brought to a position to support full production through the mill. The status of the four main production areas in the mine are as follows:
o 510L LFZ: Production activities and diamond drilling continue in this area.
o 770L and 790L UFZ: Production activities continue in this area. Secondary ground support has been a focus in May to protect the high grades expected out of this zone in June.
o 785 Ming North Zone: Development as a cut and fill operation continues through the zone at scheduled rates.
o 735L and 760L LFZ: Production activities continue in this area.
o All three mining zones at the bottom of the mine experienced backfilling cycles during May, totalling 16,296 tonnes fill placed. This necessary step in the mining sequence also benefits the operation by reducing or eliminating haulage of waste rock to surface and is the reason why ore tonnes were lower for the month.
o Total tonnes of material moved in May were 50,388 tonnes, comprised of 32,262 tonnes of ore and 18,126 tonnes of waste/backfill movement. Peak tonnes moved in a 24-hour period was 2,750 tonnes while peak tonnes of material brought to surface was 2,134 tonnes ore and waste combined.
o New mining equipment received during the month included an 8-yard CAT scoop and 30 tonne CAT underground haulage truck.