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TGrus, that’s the idea my friend, always buy at the bottom. Good luck :-)
Well, I'm now 30p a share down here. I must be the world's worst investor! I just hope that the BoD have had fun with my money! Will be glad to get out of my other investments with something left, and learn my lessons about AIM! (Please don't tell me "You have only lost if you sell" etc, this isn't coming back! GLA, I hope you have better luck than I've had recently! (Surely one of mine has to come good eventually!!).
$1 BILLLION in assets and market cap is $8m? CHEAP!
I appreciate all the doom and gloom about the going concern point, but they were obliged to say it by the AIM regulations. The amount they need to raise to survive (ie pay suppliers and first tranche of debt) is a few million. There are plenty of indivdual private investors that can afford that even. It's a rounding error to the Newfoundland government if it saves jobs (esp after Hurricane Fiona). With enough to limp through the next few months, they could manage their cash properly this time. The share price would rise and then a placing would be more reasonable.
The CFO has moved to Newfoundland. She is not going to move back home after a couple of months. She will plot a path.
Need to catch... but not on 2 p... better thw same prices as will be lowest prices in this week.
5 p.
A DNL style proposition would be a saving grace for many.
Good luck all.
I'm really sorry to say this but this is now a sinking ship...!!!!
Different type of company totally but Diurnal (DNL) did an identical thing recently. Im sure there are others Ive not noticed. Got the SP down 90% to facilitate a sale then boasted the sale was at a 100% markup (80% below previous high). I think similar will happen here. Could be worse if they do pre pack.
No Stenson. These are not CHEAP shares - they are expensive - because any financial restructuring now requires a very large dilutive issue of equity - if thats the direction chosen - or convertible debt. So there is a huge dilution coming to the equity holders and thats why the SP is so low - the market sees it coming in whatever form and is discounting the shares accordingly - or it goes into Administration to protect the business from the debt - and then equity is valued at zero. Both options mean the share price wont recover from this. Thanks Blue.
They think it's all over !!!!
It is now .......
RIP RMM ....
May the sell off be quick and humane....
Am I the only one that thinks this was the plan all along , issue an r.s.n which they did 3 weeks ago to crash the shareprice , ordinary investors get cleaned and some people pick up the cheap shares. They easily could have raised funds a few months bk at a far higher price and hedged as well. The incompetence of the board to have us were we are at is mind boggling if it wasn't all part off the plan. Amazing how some posters a few months were predicting us to hit this ridiculous price off 5p when the rest off us thought 50p more likely lol. That's my big worry here , are the board working for themselves or us shareholders. It's like they are trying everything in there power not to make the business work with decisions they have made. This a common theme with AIM stocks unfortunately and it's always us ordinary investors come to the wall every time . Anyway at 5p surely all the risks and doubts are baked into price. I'm still not selling a single share and if I had more belief in board I'd sell up elsewhere and add as no question with right will from board and lender we could easily make the turn around and get rambler back were it should be. No one I don't think doubting the potential off the mine, plan to be seen with the figures what could and should happen . Looks like we will know in next two months if lights will be kept on.
Of course, not going to ramp, big risk, big reward is right.
Agreed, but you can’t ignore the one wipe out negative in the RNS around material uncertainty around going concern. It’s a great opportunity as long as it doesn’t fold due to being unable to resolve legacy issues. Big risk, big reward. We should know one way or the other by the end of October. I came in at just over 9p and will watch this unfold.
Likewise, and I know as small investors we want this to work, but if we can see the upside, surely the investors can? You'd like the think anyway ;)
Agreed Ajones, exactly my thinking
All of that was factored in when it dropped from 21p to 6p. There are alot more positives than negatives in the RNS
Reiterating the potential scale of the business, the resource base at Ming Mine could be sufficient to support an operation 2.5 times its current output (˜20,000 tonnes Cu p.a.) and still have a +15-year mine life. This is the subject of a feasibility study that has to be conducted. However, even at current scale, this mine works and it is predominantly the legacy issues that are holding us back.
In the context of the resource base that Rambler holds, the valuation of the Company, even including its current debt position, is exceedingly low. The operations are proving themselves and future production is at less risk than it has ever been. Over and above this, there is strong exploration potential with 3 new mineralized zones discovered just this year.
I have learned a lesson here and thankfully it hasnt cost me too much, but for me what we have had from this company (if you can call it that) and moreover the board is a fudge from the share consolidation earlier this year to now.... a car crash in slow motion with little to no regard by the board for small shareholders. As I said two weeks ago there is nothing to put the reins on this whatsoever.
From yesterday’s RNS.
“The Group's ability to continue operating in the normal course of business is dependent upon establishing sufficient operating cash flows from the Ming Mine, and to the extent required, through access to equity and debt markets. These factors together with the continued unpredictability of cost inflation and the copper prices indicate the existence of a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern."
How would you like a 1 for 1 rights issue at say 2p? That would raise £3.24m gross. Decent discount on current price.
Copper price only thing can save us here. Certainly not going to be current board , drop this morning predictable but not be in the least surprised to finish the day higher. A few nervous investors pulling the pin but think there be enough buyers to mop up the sells.
Those of you hoping DJ will stick to his word and stay away this morning might want to stop using a thread that references him and generally stop talking about him. Give yourselves a chance!
DJ talks down share price today which means he will be buying tomorrow.
Whatever this going says, he means the opposite.
Clown ??