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I guess not invested then - just extremely bitter! Of your 6 facts the last 4 are your subjective opinion not facts - designed to peddle your grudge.
I can also state things...
1. Rambler hasn't hit annual production or cost guidance since entering commercial production.
2. They've gone back to the market like clockwork to raise more funds every 12-18 months since inception. Hell, they had to do an enormous rollback to bring their outstanding shares down to a number that wasn't astronomical.
3. No major mining company, proper bank, or PE firm are going to give these guys money. They are constantly going with the lenders/bankers of last resort on terrible terms that are brutal to existing shareholders.
4. Any financing done now will simply dilute existing shareholders while the debt holder and any new equity get in at a rock bottom prices.
5. They likely need at least $10m to bring their day-to-day payables current (<90 days).
6. Shutting down capital development to save money is smoke and mirrors. Trading pain today for pain 6-12 months from now.
Also, looking at a single month C1 cost for a mine of this size is deceiving. Literally 1-2 days difference in billing from a supplier (say diesel) could swing that number by a huge amount.
Facts from RMM RNS statement.
"When looking at the operating performance, a C1 operating cost in June 2022 of $2.91/lb is starting to show the true potential of this mine. This incorporates all the price increases experienced over the period and we expect this number to continue to reduce. We project our C1 cost at the end of 2022 to be in the range of $2.70-2.80/lb"
Moose Is monkey, just logging onto different accounts, not invested, bailed out and now wants a cheap re-entry price as now realising they have seriously got it all wrong.
So easy to work them out, always negative posting, just scroll past the rubbish as not worth reading.
If you are holding shares you should be pleased the way things are progressing. If not why are you trying to turn positivity into negativity?
If copper stays $4.20 to $$4.40 range then by summer rmm sp will be at least 40p + .we are much more better position than last summer now in terms of production per month,c1 cost .I just hope a take over bid of 75p+ . Copper is forecasting $12000/ton by h2 this year .
Cu prices will need to be north of $5/lb to be able to get out of this situation without a massive shareholder dilution.
AISC for H1 2022 was close to $6/lb based on my math (they conveniently leave that number out of the financial results). Even by deferring sustaining capital, which will hurt them in the long run anyways, and reducing cash costs they're likely still at around a $4/lb AISC which is effectively breaking even. Going to need a much fatter margin to service the backlog of payables and debt.
Payment plan was already in place from the cost savings - now we need to be back pulling out more than 8000t per annum and have at least 5000t of that hedged at $4 or above
There was absolutely no chance that the mine was going to close (or be taken by NewGen etc etc what the clowns here posted)
$4.16 now and talk of up to $12k per tonne in Q2!! BUT lets hedge 5000t
SP will rise faster than it fell when unsuspended on the back of this!
GLA & DYOR
Emoji Emoji !!
Lets get 5000t hedged above $4 - play with the rest - need to be back to 8000t soon
GLA
The copper rise could not come at a better time. 30% increase from 6 months ago is the difference of breaking even and actually making a profit. No one wants the mine the close and as long as it stays above $4 the creditors can work out a payment plan. Copper in high demand and reserves are very low, could be a good year ahead!!
SmartPunter - the loan was easy to re arrange - NewGen will do it over 2 years or even 3 if they want - maybe go with a bigger loan over 3 years for some additional projects
It may seem big sum to some people but the loan and the commercial reality around restructuring it is not - NewGen will have been fully on board with all this since last summer
Copper holding above $4 and hopefully pushing on to $4.20-4.50 range this spring / summer.
As long as there are no F ups at the mine then they will soon be back to 3 shifts and mining 8000t pa
Never been worried here - the amount of posters here that will be trying to buy when suspension is lifted will push the SP up very quickly from whatever it opens at
I expect MMs have a load of shares that they accumulated in the few weeks before suspension - they will be laughing as it moves 10 to 15p range
As I say, many here that sold at 13-18p will be looking to get those shares back pdq I expect
GLA and pls DYOR
They need it at $6 to pay the debt back in 18months. It was a 3 year loan.
Expect that hedge soon. I think they’ve learned their lesson! At least they better had!
Hope so. With only about 20% of this years production hedged it would be a good risk mitigator to hedge some more.
Hopefully that will enable us to get out of the mess we’re in on better terms
Copper is running towards $4.20 and once china come out from covid mess in 2 months time it will touch $4.50 easily .
Where is all the animals ..tiger, lion and of course our favorite monkey?
And in addition to the profit per pound on the copper, one of the recent RNS also stated the following:-
"Rambler, having established a developed state in the Ming Mine to support its designed production rate of 1,350 tonnes per day ("tpd") of new mined ore, is now undertaking an efficiency improvement program aimed at optimising the size of the organisation. This process is targeting cost reductions and improvements in operational efficiency that the management expects to yield cost savings of up to US$1 million per month"
Ive msg you on WhatsApp (both numbers)
Meet up?
C1 cash costs do not include any sustaining capital spend or “offsite” G&A such as corporate expenses (BoD and officer salaries). It is strictly based on cash operating costs like labour, consumables (diesel, power, explosives, etc.), and selling costs (royalties, smelting, transportation).
Once you load in the sustaining capital line items (capital development, equipment leases, exploration) and corporate overheads you’ll quickly eat away at that $1/lb cash margin.
The below was taken from one of the RNS's
To all the long term investors here, Am I missing something??
"When looking at the operating performance, a C1 operating cost in June 2022 of $2.91/lb is starting to show the true potential of this mine. This incorporates all the price increases experienced over the period and we expect this number to continue to reduce. We project our C1 cost at the end of 2022 to be in the range of $2.70-2.80/lb"
Now if RMM produce low ball figure of 550T copper month, this has been more nearer the 600T but less say 550T for arguments sake.
550x2240 (2240lb per Ton) = 1,232,000
Let's say $1 profit per pound for arguments sake.
$1,232,000 profit per month.
Please tell me if I am missing something here.
And it gets better as the price of copper goes up.
Hi Moon,
Is this in real life or in one of your dreams?
Moon,
Will be interesting to hear what you make of it with eyes on the ground.
Have a good visit,
Prof
Am here visiting mine this week