Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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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
.... 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
That what I said best time ever for rmm
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
Know0 I will be over the moon if we get an offer of 50p+ as you said ..lets see
better than them trying to go alone
I am not disagreeing with you with regards to an offer potentially on the table, but I am not sure they will get an offer for 40p+ at this moment in time (I would love to be wrong by the way) I personally think an offer at this time would be 15 - 20p at most. Rambler with restructured debt with affordable monthly payments then yes 40p is achievable!