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9100 x 150 x 52 = 70m approx revenue.
12 x 5 = 60 m costs
70 - 60 = 10m profit = 8m pounds
P/e 10 = mcap 80m
less 30 m liabilities = 50m
Current mcap 9m @ 5p sp
So 5 x 5 = 25p per share.
Looks very well written for a change. Missed out failure to hedge though!
Seems to be an appeal in there for government support, emphasising local population's dependence on Rambler.
With revenue not even covering op costs, something major needs to happen to increase production, ie a large investment, but to any potential buyer, not the level of investment or time required to start from scratch.
30p/share
HawaiifiveO, not just people who bought following that summer ramping, but anyone who decided to keep holding based on that false information. We have all been screwed out of our money.
Not that Bradbury's proven himself as a man of his word (or a man at all), but this gives some hopium:
"ultimately work towards achieving a transaction that is in the best interests of Rambler and all of its stakeholders"
Emphasis on 'all'.
However, I also expect nothing. That way, you can get pleasantly surprised!
I predict shareholders will get nothing. Just my hunch and grateful for the comments of those who clearly have much more knowledge of these situations.
HawaiifiveO, same.
This should be backed up as well.
https://ramblermines.com/storage/misc/rambler1-28374-pro-1660851163.pdf
Below is Bradbury's comment on the financials in July, the article itself (link below) was exceptionally bullish and no doubt led to many retail investors buying the stock.
' 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'
Reading the Court Notes this evening the financial situation was anything but comfortable - I cannot recall such events before involving a CEO - comments seemed so far away from the actual reality of the position.
I only have a small position here (thankfully!) but was hoodwinked (like others) thinking RMM was a recovery play based on the suggestions of the CEO who implied the financials were of good standing at the time. Not so at all.
This article needs storing as I expect it will shortly disappear off the RMM website.
https://ramblermines.com/storage/properties/rmm-metals-news-july-2022-1657288277.pdf
Rambler Group currently has a D&O policy for al directors and officers of the group with
a limit of CAD$10 million. However, it is not clear at this time whether that policy will
respond to all areas where the directors and officers could potentially have personal
exposure.
Rambler Group's D&O policy wil expire in March 2023. Rambler Group intends to renew
its existing D&O policy during the C A proceeding a s reflected in the Cash Flow
Statement), and is exploring options to secure additional coverage.
Until such time asadditional coveragemay be secured, giventhe potential liability that the
directors and officers could incur in relation to this proceeding,
It could be saved I believe so. Only problem is newgen holder
Well that was some grim reading. If I had known that their financial situation was that bad I would have pulled my money out a lot sooner, as I am sure others would have as well.
I agree Redkite2010, how the **** could he give that interview when the finances were so bad? These people need suing for every penny.
>Maybe you need to give your friends at the CIA another ring moon. Clear fraud going on here!!
A coup, and not the chicken kind, haha
Maybe you need to give your friends at the CIA another ring moon. Clear fraud going on here!!
Micru - Suppliers. To be expected.
Of particular interest is page 28/29 short term and long term restructuring goals and items 86 through 94.
It gives a much clearer view of what they intend to do before selling which is latter option.
Atb
Note pages 19 and 20, active court action against them. Quite the list. Most are recent.
meeting tonight hope for best
CCAA Filings RNS'd, Bradbury's Affidavit is an interesting read:
https://www.rns-pdf.londonstockexchange.com/rns/4072R_2-2023-2-28.pdf
Are the assets worth more? I believe so. I think we should see the SP double once the process is kicked off and trading resumes.
Rmm would be turned into new company under new name. Unless it’s stopped
The guy who given money is guy that owns mining company
Someone had previously posted some SP Angel notes about some recent RNSs, any new publications about today's one? Where can one check?
Who's that moon?
Person that stopping this newgen one person
It's a difficult one. I feel a bit of a doom mongerer and can understand why current shareholders would want to try and remain positive.
I'm just not sure that the outcome here will be what many hope. It certainly won't be anything near market value. The structure of any deal is way too variable to even try guess at tbh.
I know another example of just energy where they concluded a transaction and all outstanding shares, options and other equity was cancelled or redeemed for no consideration and without any vote or other action of the existing shareholders. So it's really just a case of wait and see.
It's never a like for like comparison and previous examples are just examples. Being hopeful is a natural feeling in these situations outside of any investors control.
On the plus side one of the key points, I believe, in an SISP is that it's a managed pricess to try get the best value for stakeholders.
I believe the first bid will be what they call a stalking horse bid/transaction. Which effectively sets the floor which any other potential bid competitors have need to improve on by set dates. Their can be extensions.
IMO only, given the debt and investment needed to reduce costs etc etc I personally believe the most likely outcome here is similar to just energy. It's not to say that some restructured deal can't or won't happen that isn't as bad for shareholders but it's highly unlikely that those expecting to see a fair value and return on investment from the suspension price will have their expectations met.
Sadly.
Atb