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Completely agree. Having made a living and been able to retire early by studying the way people's minds work I am fascinated by the nature of some of the comments on this board not least those who go from committed LTH to panicked seller in a week or so. I'm not a glass half full or half empty person with regard to Rambler, that would imply that I am somehow trusting to luck. If you do research and set realistic goals both with regard to sp and timeframe the daily/weekly fluctuations shouldn't matter. There was a sound case for my investing in February and it is equally if not more sound today. Reading some comments (one poster specifically) you would have thought that we actually went backwards in Q1 whereas we made steady progress, just not as much as had been hoped for. I have faith in TB to continue to do the right things for the company and to keep his eye on the medium term rather than daily share movements. It's one thing for people posting on here to believe that they know more about mining than I do; that hardly makes them an expert. But telling TB to get his finger out because copper has peaked is beyond ridiculous. The rest of May could be turbulent until further guidance on production is issued along with an update about finance. Those who can't bear to see their investments drop in value shouldn't be investing at all let alone in AIM companies.
Two things panicked people in to selling -
1) the thought of another placing - my view is that whatever finance is taken on It should be sorted ASAP as scaling up production is number one priority along with making improvements for the future of the mine. They shouldn’t hold back because of a small shortfall of cash. Got to think of the big picture !
2) Reduction in production to lower than the lowest guidance figure- fortunately the higher copper price will cover the shortfall so perceived problem number 2 is not really an issue
The potential of a JV on currently non producing assets wasn’t even a thought a few months ago but with new higher copper prices this will happen now. So the JV and the higher copper price mean that we more than offset any temporary cashflow shortfall situation (which does not appear imminent). Really glad I didn’t panic sell on Friday and that I have had more of a chance to confirm my beliefs after re-reading the RNs.
Only those with a really short term outlook have a glass half full at the moment. For me 2021 is laying the foundations (although substantial revenue will still be generated). From 2022 onwards we are really are aiming to be in an excellent position.
“On our projects, we are busy with preparations for ore sorting at the Ming Mine which will improve margins and profitability from 2022, once the developed state of the mine has been re-established.“
In years gone by, forecasts for Ramblers saleable metals were “The estimate assumes a long-term metal price US$2.79 per lb. copper and US$1,100 per oz. gold”
However they’re currently US$4.765 per lb ($10,470/t) copper and US$ 1830 per oz. gold. With forecast for copper to even double from current levels.
“The world risks "running out of copper" amid widening supply and demand deficits, according to Bank of America, and prices could hit $20,000 per metric ton by 2025.”
“Global copper demand from wind, solar, EVs and battery technology alone is expected to grow by nearly 600% by 2030 to 5.4mt per year.”
“The current pipeline of projects likely to start producing in the next few years represents only 2.3% of forecast mine supply. This is well down on previous cycles, including 2010-13 when it reached 12%. Projected capital expenditure is suffering as a consequence.“
All about positioning the company for the years ahead. 3x 100% owned copper mines all of which in time will generate substantial income.
The need for some additional funds in a turnaround/ development year is nothing short of trivial.