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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
I know more than u but just can’t say or do anything. Know 0 is also very convenient
Loon I thought you had all the answers, you have no idea what’s going on you need to stop with all your utter rubbish ramblings and do us all a favour and go annoy some chickens or what ever you do to have fun
What’s your cunning plan then?
Am not going anywhere this is best moment in rmm history this point we’re I be on rns by my holding once all done. Depend what they do my plan if it’s correct will make me and know very good amount of money. Question is what gonna happen right now
"Rome doesn't built in a day". The process of sale takes weeks even months before they actually do sale rns with offer .
you've been talking about a T/O since early September but no sign whatsover of that atm.
Copper is booming and soo will be $4+/lb and an T/O offer is coming .hence the suspension of trading ...not sure about 40p ,could be more I guess
Otherwise its just kicking the can down the road for another 4 weeks.
In an ideal world they would re-finance the exisitng debt and finance the ore sorter and other impovement to reduce ongoing costs and increase profitability.
Please explain why we need to raise $20m?...
You know that we don't.... don't you!
@moon - You have changed your tune?
Nothing is unreasonable the company be saved as said then bussiness as usual
The numbers just don't make sense. They could have done it a few months ago before they told us about their problems, but presumably the NOMAD (rightly) wouldn't allow it.
At today's price (pre suspension), to raise $20m. would require trebling the shares in issue (160m). At a plausible discounted price, trebling twice over. You would be asking shareholders to subscribe six times the value of their shares, just to pay the debts. Just not realistic.
They could do a rights offer. RMM debt free is a very decent bet. So raising £20m from existing shareholders would be not impossible to imagine.
Best time in rmm history
What is the meaning behind the 2nd RNS "Block Listing Six Monthly Return" - What is this? Sorry if I sound stupid I am not 100% sure what it is.
There are different reasons for a company being suspended. If a suspension is pending an announcement trading usually resumes straight after the announcement is made like in December 2020. However, how many companies make it back after announcing a suspension pending clarification of its financial position? Probably not many I suspect. See if you come find some examples.
I feel very sorry for shareholders in the company as at times RMM seemed to have potential as an investment. However, people were given a decent amount of time to at least recoup some of their investment prior to suspension.
On 9 September I wrote on this board: "Hope next RNS isn't 'suspension of trading on AIM pending clarification of financial position' but it is looking more likely".
To Be honest the only reason I want this to come out suspension is with a debt restructure package or for an offer off another company! Without a Solid RNS about the future I prefer to be in suspension so this cannot be manipulated down any further! At this moment in time based on what is happening and what we know suspension is the best option for us as shareholders to retain value! As mentioned before if this would have been leaked then this would literally be under 1p right now!
Rmm requested suspension on 3rd of December 2020 7:56am, trading was restored 4th December 11am.... Will it be as quick this time?
We don't have to repay the whole amount......just the first payment..
Factor that into our cash flow forecast and you have the placing numbers...
Doesn't need shareholder approval.....this is AIM
No worries mate....
Apologies Broker didn’t see your message