Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Regarding everything it’s happening finally my part is done next factor is what other part going to do ..
U continue laugh but u have last laugh
Moons alias is definitely Nonesense, thats nailed on
Totally depends on whether you are invested here or not, or just want a cheap re-entry price.
Doesn't take long to work out those that are invsted here, and those where it is all doom and gloom and going to be worthless non invested types, who want a cheap re-entry.
Why would anyone waste so much of their time if they had no interest in the share unless there was an underlying reason.
And there is users on here using more than 1 account, they usually near enough post straight after each other, we can't work that one out can we.
There's 2 very differing sides here
Just wait 3 more weeks....surprise is coming .of course in favour of shareholders.
If you miss few thousands dollars monthly mortgage repayment doesn't mean your million dollar house is valueless .either you borrow more money in longer terms or sell your million dollar house and pay off few thousands overdue mortgage and clear your total mortgage of few hundred thousand dollar and rest is yours .
Rmm debt is 30 million and value is at least 120 million and we are producing 550+ tons of copper /month .as someone said with 3.77/lb they said they have reasonable margin and copper spot price is now $4.05+ /lb( and going to hit 4.30+ soon) and they also saving 1 million from November.
So people who are talking about administration..either needs to check their head or have a dj intention to get cheap entry.
What u guys don’t understand is rmm is they in full control nothing has happened just yet. It took prem 12 years to do mining. Rmm same thing not finical advice
As said it’s best time ever it’s abt to happen
On balance I don't think it is.......
I would suggest that all genuine holders take on board what Know O has outlined and from this point forward do not engage with Dumb Punter and his cronies and feed their twisted minds.
Hello Know0...... I do think that you are right...
I also think that if the creditors had applied to the courts then RMM would know and it would warrant an RNs...
Isn't it funny that yesterday Smart Punter had convinced this board that it was all over....
You give me hope know0
Smart Punter - clearly your understanding in insolvency isnt up to scratch
Neither NewGen nor Elemental "control the asset"
The directors still control everything - the only way that this can change is if either or the following 2 occur
1. Directors call in administrators
2. A creditor applies to the court to call their loans - then the 1st charge creditor (NewGen in this case) would be able to appoint an administator
The appointment of an administrator allows the company to continue to trade (some companies have traded for many years in administration) all the debts of current company are held over at that time i.e. nothing for NewGen, Elemental, AP creditors etc - all monies owed to RMM are collectable
Administrators are personally liable - so although appointed by the creditor with 1st charge over assets, they must show that they have done everything to act in the best interest of all creditors and shareholders - selling the company as a going concern with the measured material should easily clear all debt and give shareholders return - any interested parties would already be in discussion with RMM
So sorry to disappoint the posters here saying NewGen make all the decisions etc, they dont - of course they will be wanting their cash back (or a new loan etc) but with no debt in a NewCo, administrators could run the mine for a couple of years and all of that time NewGen get no cash back at all (nor anyone else)
Lets wait and see what transpires, but what we do know is that MM and LD are worth a lot of money - much more than the debt in RMM
GLA Holders
…they are all still here so sure of their own opinions but still actually know nothing more than my dog. Gives them an excuse to goad others with backhanded insults.
As I said earlier, the doomsayers wouldn’t be here if they weren’t planning to get back in at some point. So glad you haven’t give up all hope guys. Gives me hope.
He's such a tool, I didn't realise he was still around!
Thanks DJ. So you don’t own any shares and now you’re telling the ones that do, they will get nothing at all. What a valuable contribution. Thank you so much for absolutely nothing
Yes, the asset will most likely get refinanced but there is zero chance the current shareholders will get anything more than about 2-5% of their value last day of trading - any new money will wipe out the existing failed equity holders - we don't get a free ride on someone else's coin i am afraid. That's how equity works im afraid, loans and bonds are more senior and they convert into fresh new equity, killing off the old dead money. Full disclosure - i lost £11k here. Thanks Blue
maybe a problem with DNA rather than NDA
Agreed, that’s why he cannot answer a simple question.
Moon hasn’t a clue what’s going on here, his incessant ramblings have nothing to do with an NDA or anything as such, he’s just clucking at straws like the rest of us. Please ignore him
We still in control with rmm at moment as long theybpaying them money don’t change anything
https://mandalayresources.com/about-us/board-of-directors/ One thing I know Brad mill not let rmm go
As someone who holds a large investment here. Based on the progress made with the mine over the last couple of years primerialy. The financial mismanagement came as a very nasty suprise. I had very much hoped that due to the resource strength, & with a more competent CFO now that this would eventually get sorted out. The fact though that, after a couple of long over due hedges lower. As Cu hit $4.20 odd.... No further word.... Plus the recent poor Au revelations, and with the time dragging on......What nearly 4 months suspended?
Has made me far more jaundice about the prospects sadly, and now I see it as a bonus, not a given that things while untangle anytime soon frankly.
That's just being realistic. There is a world of difference between that and the aggressive Trolling that's quite apparent still here.
I see those people as either bored, and loving the idea of continuing to stir. Basically nasty people who enjoy others stresses. Or they are a more calculated attempt to hedge their bets as a trader, and if it does emerge get as good an entry back in as possible by scaring out as many as possible. Possibly for just their benefit, possibly for others they are involved with also ....
Either way, those types permeate all BBs. After a while it's very easy to recognise genuinely skeptical or overly enthusiastic investors from those types I suggest.
As most know though. They can say what they like. But only the respective company and lenders can resolve the situation. Period.
We still await that information, and all those genuinely invested wish for a workable plan.
Cheers.
I was almost convinced we were going to pull through this if you asked me a few months ago, but now I'm not to sure. The BOD have made such a mess of things. My hope is that they are pouring everything into paying off all debts and if we can get out of this debt free then things will get better, possibly much better. That is a long way off I imagine, but with the price of copper doing well, maybe it is a possibility. I personally think i would donate my investment to charity for RMM to pull through this, just to shut the trolls up as i would get more satisfaction from that.
Oops.
It meant to say
Moon, are YOU restricted by NDA?