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If by best time ever you mean they will be bought out at a decent price and new owners will have cash to lower costs also then yes I agree.
If the capitulation in SP has forced BOD to realise they are not the people to run the company and take one of the offers that no doubt they’ve been courted with this past year then agreed.
Again, those talking about NewGen taking the asset or going bust, really have no clue.
Hopefully will get the chance to add more at these prices
DYOR
Please educate us master Yoda
You guys have absolutely no clue how business works clearly.
TB out drinking wine at Claridges...... cant be that bad then!
Have a listen from 12.50
The debt in the company ranks senior to the equity - in fact equity has almost no power at all when the business moves into financial problems.
1. Administration - the debt owners negotiate a refinancing package, and that wipes out all shareholders at say around 20:1 - or even completely, but if you own shares you can at least divide by 10 their value.
2. New Debt to provide cashflow - OK so the current debt owners add extra debt, but it will be on a very high interest rate say 15% and at a massive convertible rate of say 5:1 or something - so the current equity holders can divide by 5 to 10 times.
3. Asset Sale - OK so the current owners of the business (thats the bond / debt seniors at this stage) equity have lost control - go to the used copper mine market and sell, but the debt holders have first call on any cash that is raised and the equity owners dont get it until 100% of the debt has been recovered as the other debt and bonds have seniority - so how much would be left?
Most people here have forgotten the company has debts and they need to be added into the equation.
Thanks Blue
Amazing that the hope still courses through the veins in here...... predicting offers of 40p+, 50-75p etc are just hilarious. Surely the more likely option is NewGen allow RMM to go bust, then pick through the scraps with the other vultures who are surely circling now? What about the dilution that would likely come as a result of NewGen, or anyone, stepping into save RMM?
Offer is coming @40p+ ....just few weeks ..
Apologies for sounding rude but just read the RNS. Even Moon has the common sense to do that. If you’re invested I’d expect people to at least do that!
From their website
As noted in the Company’s interim results, announced on 26 September 2022, repayments of capital on
a loan balance of US$16.4 million provided by NewGen Resource Lending Inc (“NewGen”), the Company’s
principal secured creditor, are due to commence on 31 October 2022. The Company has been in active
discussions with NewGen to defer or reschedule the repayment of its loan, which is intended to form part
of a wider restructuring of the Company’s finances. However, an agreement has not yet been reached to
defer or reschedule such capital repayments.
Accordingly, the Company’s ordinary shares will be suspended from trading at 7.30a.m today, pending
clarification of the Company’s financial position
No idea and silence from this board worries me hugely
Any ideas what is going on?
Moonie. Keep taking the happy pills
Moon you are a Narcissist.
Not yet my name be there but soon depend onnnxt move
When did a situation like this ever result in a bonanza for shareholders?
Trucky - You may well do. Get your name on a TR.1 RNS for a mere £270k these days….. the plot chickens ….
You know nothing moonie. Still waiting to see moonie in an RNS. I really Don't think you can buy RMM with tesco vouchers
That what I said best time ever for rmm
.... cont
fundamentals are what you invest upon and Rambler fundamentals are wonderful - now lets get that new racing driver a seat
GLA and pls DYOR
Moon and I have never met and much of our analysis etc differs to some degree. BUT not all
I intended adding again today so a bit disappointed but may still get to do so.
Why would I add? Cashflow issues can happen to the best of companies and I think TB (as CEO) but BOD in general have mucked up badly (by not hedging) and overspending.
Take RMM as a Formula 1 Racing car - you still need a quality driver to win races, not a 20st mechanic behind the wheel. Thankfully, there are many that can pay good money for the F1 car and already have many proven quality drivers to jump in quickly.
Ming is a truly work class deposit and grows every time they shove a drill in the ground
Everyone knows on Monday we have a repayment to make and extremely unlikely to be in a position to make it - NewGen will be fully aware and will in principle have agreed to what is (whatever that is) happening behind the scenes
One thing I am absolutely sure of, Rambler is not going bust / into admin / receivership - people saying that have no idea how these things work.
I hope it is a sale - there are rumours of a few NF mines being purchased (gold and copper) - this is just RUMOUR.
If BM could find a way to go it alone, I believe he would - but maybe all have realised they simply cant do it and need a larger group that can add economies of scale, develop LD and if rumours are correct, add other companies in BV area - sounds like a great Private Equity play but could be the plan of a mid tier miner also.
HanCon have left site - still owed money - last 20 Eees went mth ago, rest mths before that.
BUT - the mine is operating 4 full crews - plenty of ore and mill is running continuously.
The only difference between today and yesterday for me is that I cant buy or sell shares (buy was my plan).
IF (and that is a big if) we are going to get an offer for the company, I expect it to be north of 50p but not as much as 75p - but its worth over a £ so who knows.
The next RNS could easily be, we failed to make the payment and NewGen are happy & trading continues - this could be tmrw, Mon or Tuesday
If you cant sell a Copper mine with all the expected demand for copper that has way over a BN lbs of copper (so even at todays $3.50 is worth $4Bn gross) then you shouldn't be running a chip shop let alone a public company.
Further speculation if we could sell to a PE firm, we would get a cash offer for our shares. If on the other hand the company recommended a sale to a mid tier miner, we would likely get shares offered in their company for our shares - at some formula to closing price on the day before announcement.
Anyway, it will be what it will be BUT one thing I am absolutely positive on, is anyone that bought shares in the last 6 mths will eventually come good - maybe (hopefully) everyone that bought in the past few years
We may also get notice of a Cr card that we use for Monday and SP drops again - short termism is not investing - fun
Know0 was telling us all its a no brainier and a guy called oiltap too! Looks like newgen will call in their loan and take the asset on the cheap.
Why do you keep mentioning Know O, you guys didn’t meet in Newfie, your as much in the darks as everyone else, stop pretending you know something, you know sweet FA