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....yet producing thousands of tons of copper per annum, in a rising market.
RMM's assets massively outweigh debts so even if sold due to inability to service debt, we're on a winner (well, those still 'in')
A sale of company is more likely than mass shareholder dilution. Any large equity raise will need shareholder approval. There is a large percentage of shareholders who are private investors. They generally would vote against unless a rights issue. BoD also cannot work against interest of shareholders and a recent case with Hurricane Energy has shown what private investors can achieve.
Overall still comfortable here especially with current price of copper. Viability of mine and prospective buyers lining up to get it on the cheap should see me get my money back and hopefully a good return on top. Definitly not the price I was hoping for when first investing but still good.
With current copper price a sale should get each shareholders 75p/ share at least.rambler is going to be 100 million company in fre months may be by q4 2023 .
You have few thousands mortgage repayment to your house doesn't mean your million pounds house has to sell for few grands. Rambler is on right track and will prove them right by summer this year.
All derampers here is talking nonsence without understanding copper prospects and price in few months .
"There is a large percentage of shareholders who are private investors. They generally would vote against unless a rights issue."
Of course PIs can vote how they like. Might bust the company though.
There is a risk of going bust but prefer that risk option to mass dilution. With Measured and Indicated
Resources grading 1.80% copper and 0.35 grammes per tonne gold, containing 945 million
pounds (428,000 tonnes) of copper and 271 thousand ounces of gold, at a 1% copper cut-off I expect there will be plenty of potential buyers.
Rambler BoD have left themselves vulnerable to a cheap takeover especially with the small amount of debt compared to measured and indicated resource. An underground developed mine in this jurisdiction, with labour availability, a mill and easy port access would cost £100s millions to develop. A lot of work has already been undertaken in respect to what the mine could potentially build up to which is multiple of current production.
The resource is also open at depth and therefore potential to increase reserves whilst maintaining 20 year plus mining life.