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bubbleshoot my money is on the milk bill.
Where can I read the default terms, couldn't find what tue default terms were on either companies website. Anyone know where to find?
Well it won't be negative posters!
What do we think RMM will default on next - any guesses?
That's at 100% for me
>25% bankrupt, 25% ever getting my initial investment back, 50% somewhere inbetween
There's got to be a double-digit percentage of 'TB is a deek' in there somewhere
25% bankrupt, 25% ever getting my initial investment back, 50% somewhere inbetween
I love BB, the fun people post to support investors.
Anyway worse case is bancruptcy. Can I see this happening....nope. More likely in worse case scenerio is a doubling of shares raising £7-£9m. Enough to cover any outstanding debts which need to be paid now. Copper price has recovered from lows of 2022 and currently around $4lb which is where Rambler said they need to be to cover costs and payback of debt.
LME inventories at lowest point in past 5 years and if this continues for a few weeks we could see copper price increasing. Lots of views on supply and demand so let's see how it plays out.
Whether you fear the worst, or hope for a miracle.
A dignified silence is best, to the trolls.
Well done today.
Been on the sauce nonsense
For the first time you saying something sensible and people can understand moon .
Big news is coming about finance s.o.o.n.
We produced gold of 900+ oz for q2 q3 of 2022.if we didn't gave it to elemental we must've sold it and use the money for something else .compare to debt rambler assets is few time more .
We will be back on trading by March/April with a better finance deal and by summer copper will be at least 4.50+ .it just overreaction of today's rns because they have written a poor rns not describe what they did with that 900+OZ of gold .
TB will show why he is one of the best in mining industry ....
Some bird told me finance deal is almost done ..dnt worry be happy everything will be alright .
If the mine was not running than that different story but mine is running and saving money. Brad mills would have kicked tb if he was so bad. But I also kwn Brad bills don’t want rmm to go up in the air
https://docs.londonstockexchange.com/sites/default/files/documents/n0419_attach3.pdf
In amongst the posts recently. Somebody (apologies can't recall whom). Remarked on the interview I also recall with one of the nomads. He praised TB as a very well regarded CEO I recall. Also expressing suprise at the suspension just agreed. Also seeming to intimate clearing it would be straightforward if I remember correctly?
Given the time on now. The seeming lack of progress, plus the further default revelations, and when it was occuring (Q2 !?).
You have to ask if the game keeper and poacher are all intertwined here....
My understanding of the nomad is they are there to not just facilitate an AIM listing. But also critically to make sure a company once admitted runs it's business to the rules and standards expected!
Maybe The nomad thinks, like Mon that it's all tickety boo then.....
He's in a minority if so, best case....worst case been complicit in driving this to the wall....
I’d argue that TB has actually done a terrible job at technical delivery. Sure the mine “appeared” to be running better under his management but he clearly has been unable to reign in costs and get production up to the numbers he constantly sells to investors. They brought in contractors (Hancon) to try and increase development but ended up just burning cash to no meaningful long term gain. The production reports are all full of sunshine and rainbows with the actual issues being hidden between the lines.
>you can't go from bankrupt to worse than bankrupt...lol
Bradbury:
- Hold my beer
'You don't go from bankrupt to where it is now impossible'?
I agree if by that you mean you can't go from bankrupt to worse than bankrupt...lol
At the end of the day I'll let you have your own views, but honestly it seems a very peculiar view to have.
They raised a load to stay afloat, the mine was operating much better (TB has certainly proven he can manage a technical delivery I agree) however despite this they still weren't operating at break even or a profit.
- They had to borrow against the asset, they've defaulted against that borrowing.
- They've defaulted against another creditor.
- They've suspended the shares at rock bottom.
- There has been no positive update or evidence of a viable resolution or a willingness of the creditor's to negotiate.
- They have only a matter of a couple months or so before the exchange delist them.
- They have missed supplier payments and are now experiencing further operational issues due to that.
It's really not the best time for RMM Moon.
Chances of survival are slim but I hope they do sort something out for those that are here. However the cost of staying afloat is likely to be high to current holders.
Atb
It does work like that u really can’t get a company that bankrupt in 2020 to what it is now impossible. If copper prices not what it is today rmm would be finshed.. tb has done amazing job sorry he has turned this around and done his best get all money he can. This point is the important point if rmm get 100 million then we are at point that rmm can be become 1 pound share even more. But for that to happen this is point that even Brad mill ftse manager at one time not let rmm go to pot. Yes am disappointed me and tb have not had best disscation. but i kwn many party involved.
Appalling comms as usual, but presumably this is the gold offtake people protecting themselves - and who can blame them with our BoD/management.
Given that most company's go out of their way to make sure shareholders only ever hear as positive a spin as possible, it is likely worse than anything they have yet told us, I note that Toby and Brad hedged some of our production late last year at USD8,300 and USD8,330 per tonne, but last month the price briefly hit USD9,500... did they hedge more? No. Even if they had no choice late last year, it seems very odd given the situation. Based on their track record, one could be forgiven for thinking that both Toby and Brad are waiting for the copper price to weaken further before doing another hedge.
Things go wrong in mining companies - that's the risk we all take when we invest. What we can't mitigate against is being mislead combined with financial incompetence. The BoD only communicate with the people who still own the business... when they are forced to. Unbelievable arrogance.
Moon it doesn't matter if both know the situation, knowing something doesn't make it better.
I could know I've lost the keys to the car in the sea, it doesn't help me drive home.
It's not the best time in history here. It's very likely the opposite. The fact we know it's the opposite didn't make it the best. That's not how it works lol.
Anyway have a good weekend all.
Atb
Now after sorting out few things. I am now even more conterable with situation. future is bright yes rmm let us down but this is point we’re theybsorting it out finally. Both company knew situation
Thanks to all who posted responses. Some stuff that I had not thought of so very useful thank you. Not sure what to think at all now!
Best wishes,
Prof
FTC,
Clearly a default has occurred but it doesn't say when and we don't know whats definitions are in the agreement. It's all supposition.
The result of non supply across both quarters has created a default in accordance with the agreement clearly.
The broader content and context of my post is relevant.
Atb
Fukurokuju79 said "I'm not convinced RMM would have had to issue an RNS against the gold streaming deal in q3 or even q4 as it was a commitment to fulfil gold supply on an annualised basis."
The RNS confirms that failure to deliver refined gold in Q3/Q4 22 is an event of default
TB has always been poor with communication and has hammered the share price on several occasions when there was no need. I remember a year ago when he did that right before a placing, should have been a red flag. Prior to that there was the covid RNSs which made no sense at the time. It's hard for anyone to say TB has acted in the best interests of shareholders.