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I feel that a placing is coming....
The board knows the amounts of capital repayments to Newgen are due, and when...
They have a cash flow forecast...
I'm sure they've worked out how many shares to place at 3p....
I agree with Moon (cannot believe I said that) and actually hoped they would do that much much sooner.
>here and PUR, are both 'safe jurisdiction ' Canadian miners.
A mine ran by a dyslexic Nigerian prince is more trustworthy
I believed in the board here and lost 25% of my pension fund before bailing out a few weeks ago.
Looking like a zero. Good luck to all long term and still holding investors, hope something decent comes out of this mess.
Strange also that my two biggest self investment 'mistakes', here and PUR, are both 'safe jurisdiction ' Canadian miners. Sold down the river by truth with holding boards both times.
Personally I think this was probably the best case beingsuspended! As let's be honest if they came out and said this hasn't been sorted and they can't afford to pay Newgen and this wasn't suspended then the price would be less than 1p right now and all value they had (not much) would be gone! Building the price back to 30p is considerably harder when your share price is less than 1p. Building it up from 5.5p is much more achievable! I'm hoping they come out of suspension with a new deal. GLA invested here!
The assumption has to be that Newgen will not renegotiate the terms. This is a company that is barely making ends meet and interest rates are heading north. It is not an attractive exposure for Newgen.
However the long term fundamentals are good . A larger outfit could probably turn this into a nice earner. Assuming Newgen says it wants its money, the obvious thing is to find a buyer. Miners have had a good year and new opportunities in "safe" jurisdictions must be on their shopping lists. You would think it should sell for $50m minimum, whihc is still a lot more than the current market cap.
I think the BoD will resist this after all the effort that has been expended into proving this mine and getting it so close sustainability. So it's not their first option, but it is still a fairly likely outcome in the current circumstances. But you never know!
Waco that is certainly a possible outcome. They've done this to force the hand that feeds them and show them what they also have to lose.
It does however make it hard to think there is an alternative option to NewGen out there.
I'm not sure this can be massively spun as a positive, but it's the only move Rambler had to force support when it appears the initial discussion route didn't achieve the outcome.
They've basically moved the defcon levels up a couple.
Company should have suspended share on the 9th September. At this point they knew they had issues. Well let's hope they get the restructure they require before suspension is lifted.
Next RNS will be Finance sorted and suspension lifted…. imagine what the share price will do then! I’m with Moon on this. I’d rather it’s suspended at 5p than see us drift down to 1p
Yes that why I say best decision now rmm best situation then ever before. Mine working upgraded fully. Making 1 million in payment not problem but want best situation
Sorry to see this to all those still here.
That said, rambler have never had the upper hand in negotiations. While this is very serious. Rambler suspending the stock is as much strategic at this stage. It will force a decision from NewGen.
Atb
Eason Chen is a muppet
Game over u lot make me laugh remember what happened 2020
Yes going, keep posting a new message for every sentence that will really help. This is probably game over for RMM sorry, i had a lot of fun trading these shares in the past few years around the 20/30's
It happened before these thing take time get best deal not fincail advise
They not going bankrupt just need more time it’s great news they done right thing
With some trepidation, I’m going to say moon has a point. It’s obviously not good that the company has not managed to sort out the financing. But, given that state of affairs, there is something to be said for avoiding wild swings in price between now and the same time next week, while last ditch efforts are made
'Fanastic news'
Are you on drugs or just gas lighting?
It good as it protect price
Fanastic news
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.
Damo I see your interest in other stocks and some of them you want to buy or own. Do you actually have any in RMM. I'm only asking because you haven't mentioned RMM in any of your post's
Very Large gains on Copper today! Hopefully we can start seeing a push to $4
Damo2014 posting same link on a lot of board's. Must be desperate
Let's be positive......10p?