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I’ve averaged down to 11.45p I’ve tried to cut my losses like I said new to this but ????? hopefully maybe I’ll be ok suppose I’m not as unlucky as few messaging on here losing thousands but still a big hit for me if it doesn’t work out ??
Depends on when you invested and the SP on lifting of suspension.
Am hoping for a good RNS!
Hi I’m invested in this and was after some opinions on whether I’m going to loss all my money?
I’m fairly new to this and would appreciate valid opinions please
https://www.mining.com/web/lme-ends-chaotic-year-with-metal-stockpiles-perilously-low/
And certainly nothing like DJ
Moose and monkey ..same person different name ..come on DJ ..be honest .
If the change in shift/blasting strategy is all about efficiency then why were they not doing this right from the start? The change is simply a reactionary move to make a claim that they can “mine more efficiently
“ while their costs are effectively unchanged. Also, speaking as someone who knows the mining industry pretty well, blasting once a day is a dumb concept that ends up hurting you in the long run due to flexibility issues… There’s a good reason it isn’t practiced on a wide scale anywhere.
Thank you Monkey found the 19.5% staff reduction but not the split between admin and engineering .
Now fully understand you advise investors with RMM shares to sell immediately suspension lifted and potential investors to not buy.
Why are you so thoughtful?
Best
Lekka
Took your advice Duffend. Got some therapy. We had a good chat explained about how a certain tool just spends all his day posting to scare people in a share he isn’t invested in.
Therapist said “wow sounds like a disturbed individual, I’d be happy to see him for free as he’s clearly got some serious issues.”
Happy days Duffend enjoy :)
"Besides the news is indicating a likely further sustained drop in price."
Ooooooohhh no it’s not
Its all about efficiency which some people just can't grasp.
The mine has moved to blasting once per 24 hours at the end of the day shift. Where previously, we were working 2 x 10 hour shifts to allow for blasting between shifts, we have moved to 2 x 11 hour shifts increasing the time available for work by two hours (10%) per day, further improving the utilisation of people and equipment.
RMM Management have realised where cost savings can be made and have implemented these measures immediately, including being more productive on a daily basis as noted above.
You don't keep people employed if you are as efficient with less numbers, it really is that simple. Having non- productive employees stood around taking a wage is not being efficient, what is so difficult to understand?
They still have 186 people employed, well as stated in the official RNS.
Yet once again, the positives can no longer be absorbed by the "Non Invested"
And there it is " a quick retreat from the share at the earliest opportunity is the move for you."
Yet another attempt to get others to sell up so that they can feel better on their judgement decision they have made.
Lekka- You are wasting your time going into discussion, don't lower yourself to there level.
They don't have a clue about efficiencies, it's the same constant drivel "20%" when they don't know where the reductions were made.
Like I said before,if 8 men are as efficient as 10 men in a mining gang, then common sense tells you what choices to make to save money.
Still posting here week after week and not invested just shows the sheer desperation.
RMM have 2 hedge deals now in place, I would not be surprised to see another be announced shortly.
Monkey, could you say in which RNS the 20% reduction in staff is stated and what % is engineering and admin? Am struggling to find the detail! Thanks.
Mining.com famously publishes articles both bullish and bearish on every meatal every day.
COVID cases in China was inevitable an other proof of how pointless lockdowns were. But their economy is now back and running.
The below is all you have Duffy. Getting desperate aren’t you old fella.
Copper for delivery in March fell 0.6% on the Comex market in New York, touching $3.82 per pound or $8,404 per tonne.
0.6% drop oh no that’s devastating. As a result I won’t be celebrating new year. Instead I’ll be crying myself to sleep thanks to that information.
It’s just speculation. There’s no reason, from this, to deduce that low copper prices are "nailed on" for the foreseeable future.
We’ve got to be realistic. We are at the back of the queue to benefit from the company’s endeavours.
Well that's been the best comment so far "Intelligent Information " LMFAO
Constant posts today from the "Not Invested" crew once again, posting more crap as usual, nothing true and factual.
The same pattern here day after day from the not invested crew, what a sad life.
You have to pity those who are this sad who cannot except their decisions and move on with their lives, they just can't let go.
We have to be kind and just bear with them for a few more weeks, it's like a bad smell that will go away with time.
Santhi123- Great Post.
Moon- Great Post.
Mad8- Great Post.
I thought it only right to state the above to follow the trend, wouldn't want to be different now would I, :)
Smart… an event of default has occurred and this means under their agreement they are entitled to act as you have outlined. However, in practise, a lender it is often more likely to reserve rights under the agreement to put RMM on Notice and work with them towards a beneficial position for both. Selling the asset right now, in a distressed position is not going to benefit either max. It’s important to note, the capital element is what has been missed, so restructuring over a longer term, or accepting reduction through dilution is also probably on the table. However; we are all simply guessing… we still have no update on costs, production levels or anything apart from how good the BOD claim the resource is.
Naturally, I’m not positive about having as share suspended and heavily underwater… but we are where we are… still think outcome is not nailed on as some suggest.
Smart ass and duffy…... What a pair of tools you both are. Both not invested but have posted more in recent days than any other. Hmmmmmmmm….. tells you all you need to know.
Happy new year everyone! Wishing us all a far better one concerning Rambler!!
U lot are panicing all over wht joke. U acting like it’s over.
MD how can I get out if share is suspended?
It is the 30th of December and tomorrow is new years eve and all you have in your life is posting the same diatribe over and over again. Is your life so devoid of family and friends that your only source of pleasure is causing anxiety to people who have invested money in good faith and who are worried about whether they will get it back. Get a life and move on and to everyone on this board green box the horrible little toad and let him talk to himself. If RMM pull through what are you going to do with yourself?
Default is an event. It's triggered and the relevant clauses in the contract apply. Undoing default requires repayment of the loan, interest and fees in their entirety.
It's in the contract at Companies House.
What nosence mine sold sme ppl really like to scare ppl