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Good luck all.
$1 BILLLION in assets and market cap is $8m? CHEAP!
TGrus, that’s the idea my friend, always buy at the bottom. Good luck :-)
Does anyone know where the bottom is? I thought 8p was as low as it could possibly go? Now into 4p territory, this is a disaster!!
There's no point buying at the moment IMHO until the company confirms whether it has been successful in raising sufficient capital and on what terms. Until then the share price is likely to continue to slide and people are just burning their money
agreed. just wait. worst case is you pay a 20% premium on a climb
There will likely be a broker option so people can buy at the placing price.
Most placings are now structured that way to allow retail participation
We should be at the bottom now, just bought some more at 4.30p, not a lot but every little helps. Can see this finishing above 5p. Imho
I have read the below from the RNS a few times and I can see more positives than negatives! This mine currently has a market cap of £7 million! Which in my opinion is extremely low for an asset like this! Exploration companies with no mines have market caps 10/20 x what this currently is! As mentioned below I am confident from reading the RNS that the debt will be restructured, and this will be a thriving mine!
It also must be on the radar of some of the bigger mining companies like Glencore when the market cap is so low! The return on investment for a company with large amounts of funds at their disposal! Maybe this is why they released the RNS a few weeks ago at 22p to drive the price down to put this up for sale. At 22p the shareholders would have wanted at least 40p for an asset like this! At 4.50p the new shareholders would be more than happy to sell at 10p - 20p (Not good for me but good for shareholders who have lower averages)
"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.
The need to bring capital into the business is to ensure that long-standing legacy commitments are met and not to support on-going operations. The current drop in copper price is one which we believe to be temporary, but we also recognise the volatility in the market.
We are in discussions with all relevant parties about the need to restructure our liabilities and believe that practical solutions will be found all round."
Every time I top this share up, it drops more lol. Fooking share doesn’t like me. :-)
You can't just look at the current market cap as that will increase significantly if new funds are raised at a low share price.
Also you have to include the negative $20million working capital plus $20m in debt.
Time for the bottom feeders to pick up a bargain perhaps? How much lower can this go in the absence of any news on funding etc. risky but might be one for the traders ???? Off to change my pants, it’s squeaky bum time….
I've run out of pants.
Reduced my average by 10p, fingers crossed for a bounce.
@Gaza Good luck to you!