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CE Mining III Rambler Limited (CEIII) Hehe
"An operating and cash-generative copper-gold mine in Newfoundland, Canada, producing at an annualised rate of 8,000 tonnes copper per annum with a goal to produce around 25,000 tonnes of copper per year, plus its significant exploration potential, should have a value of several hundreds of millions of dollars in today’s market."
Forget about several hundred millions.shareholders will be happy just to get $ 150 + millions.
TB ..just think before you say something .
Depends on how much they will get for rambler .it's like they want to kill slowly all the shareholders who supported them for last few years .what a board of directors !
Why they didn't try to sell 1 year ago when they knew they could not cope with low copper price .they had to built more debt ,spent more money in mine without no idea about their cost.
The only way out is they have to sell rmm for120+ millions.
>When will shareholders get put out of their misery?
The next date to watch out for is in a week's time, as per the RNS:
· the next hearing is set for 15 March 2023 for the Court to consider a proposed sale or investment solicitation plan (the "SISP", or the "Strategic Process"). If approved by the Court, the Strategic Process will be conducted by the Monitor under the Court's supervision and will be designed to achieve the highest value available or otherwise best offer for the Company, its subsidiaries, and its stakeholders.
When will shareholders get put out of their misery?
>>Xenor ,how much you think
Accounts say $70m don't they?
Tad optimistic.
They wont sell any shares, they will sell the assets.
The shares are worthless, as they have too many liabilities / debt.
The assets will be sold to repay some of the debt owed.
Shareholders will get nothing.
Thanks Blue
The RNS states:
" the Strategic Process will be conducted by the Monitor under the Court's supervision and will be designed to achieve the highest value available or otherwise best offer for the Company, its subsidiaries, and its stakeholders."
So initially they want to sell the company and it's subsidiaries, i.e. they want someone to make an offer to buy the shares of the holding company, or parent company.
But that might not suit potential buyers, who may not want to inherit any "baggage" associated with the companies. A cleaner solution for any potential buyer would be for them to make an offer to buy the assets of the Group of companies, and to pay an amount that would enable them to pay off all of RMM's debts, loans and creditors.
I think it all depends on what offers they get, and what potential buyers are prepared to do.
Xenor ,how much you think
Every bit of information they reveal shows that their financial situation was far worse than they claimed. Still think shareholders will get something, but that amount looks less by the day.
>I was hoping "After Hours RNS" was some sort of new adult late night programme.
Everything can be a fetish if you try hard enough.
Thanks guys for your messages.
In terms of declaring and agreeing an "Allowable Loss". I believe you have 4 years following the fin year of the loss to register it. Once agreed you can use the loss offset in future fin years to increase the standard CGT allowance and avoid paying CGT on any gains.
Thanks Strummer. Saved me getting into trouble.
My understanding is that for shares in a trading account. If the company actually dissolves then you can make a representation for an Allowable loss compared to your purchase price. Just as you would if you had sold the shares for a loss.
However. If the company shares become of negligible value. But the company has not rdisolved.you must first make representation of the "Negligible Value". Then if HMRC CGT department accept that. You can then apply for the standard Allowable Loss. But not before.....
Shares in an ISA can't qualify for either.
it would be used capital lost i called them about things like this
I would suggest to be careful assuming that if your ISA provider/broker ultimately decided to move worthless shares to you trading account. That you can use them to claim any sort of formal "allowable loss". They were originally purchased in an ISA, and the decision to move them is the brokers alone.
As far as the HMRC Capital Gains office will be concerned. I am pretty sure they would not be eligible to be recorded as a usable Capital loss.
Thank you for that.
The shares are worthless but still show and have done for a few years.
if you mean deduct the loss before any tax becomes payable then im sure you can.
I think you can go back a few years and use any losses against tax.
If the shares become worthless because company gone bust or whatever then any shares in your isa will move to your trading account.
I had 500 shares in an isa in a company that went bust and after a year HL moved them to my other account as it said i could not have them in an isa because they went bust.
Just weighing things up but can you offset the full loss of this share (not in ISA) regardless what the CGT allowance is? Any help much appreciated.
They claim 117m assets, item 4 in the revised rns has accounts.
Operating profit is less than a million.
13million loss for the year..
I suspect the lies last year were to fool the creditors not shareholders
> It's not a definite that the mine must be sold.
I say we sacrifice the Little Dear :-)