Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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They have said the below;
AuTECO Minerals Limited (ASX:AUT) is pleased to announce that it has agreed to acquire the
Green Bay copper-gold project in Newfoundland, Canada, for total consideration of approximately
A$65M
$65m Australian Dollar equates to $42m US Dollar - Net debt is about $25m US dollars meaning there is about $17m US dollars left? Who gets that? All very confusing and we need some clarification! It is typical Rambler
That is what I have read but cannot make heads of tails of exactly what is happening to be honest! And what it means for shareholders!
The Company has agreed to provide the following consideration in return for the Acquisition:
(i) A$50,000,000 value payable at Completion, comprising:
(A) A$35,000,000 in cash (Stage One Payment); and
(B) A$15,000,000 worth of Shares, being 600,000,000 Shares based on a deemed issue
price equal to the capital raisings (A$0.025) (Consideration Shares); and
(ii) A$15,000,000 value payable no later than the 18-month anniversary of Completion (Deferred
Consideration), comprising:
(A) A$7,500,000 in cash (Stage Two Payment); and
(B) such number of Shares equal to A$7,500,000, determined by the VWAP of Shares over
the last 10 trading days on which Shares traded prior to the 18-month anniversary of
Completion (Deferred Consideration Shares), subject to Shareholder approval under
Listing Rule 7.1.
A deposit of A$3,500,000 has been paid by the Company which shall be deducted from the Stage
One Payment on Completion. The deposit is refundable in limited circumstances.
The issues of the Consideration Shares and Deferred Consideration Shares are subject to the
approval of Shareholders pursuant to Listing Rule 7.1.
JimDawg
Not a penny, not a single share.
At least Dick Turpin wore a mask.
£17m cash for the lot.....
We could have raised that among existing shareholders....
What does this mean for rmm shareholders. Zero return? Any chance our shares will be converted into Auteco?
"• The purchase comes with +A$250M of infrastructure, including an accessible decline,
extensive underground development, a 650m shaft, processing plant, port infrastructure
and adjacent hydro power"
And they gave it away for nothing. No words. Wouldn't be surprised if Bradfart Mills has some connection to the chairman of the acquiring company.
Oh wow. That's the best they could get? Embarrassing.
RMMC Sold to Auteco Minerals Ltd according to their announcement.
Google search Auteco Minerals Ltd (ASX:AUT) Latest news announcements and its all there to see.
A$35M in cash, A$15M in shares, followed by A$7.5M in cash, A$7.5M in shares 18 months later.
Do they have any shame ? Criminals ...shame on you...looted money from innocent investors ...destroy lives of so many families of creditors ,suppliers, employees ,investors .look at the mirror everyday and remember you are a criminal.
Not one the administrator has to care about.
There are many types of stakeholders in a company.....
Shareholders are one of these.
Stakeholders, not shareholders.
The creditors.
Well, we can also speculate as to why they did not specify the offer amount. Or at least state the reasons why this cannot be disclosed just now.
Guess we'll find out either way - 21 more sleeps. ( ͡° ͜ʖ ͡°)
Seems to me that the only thing worth speculating about,now,is how much the successful bidder is paying.....
And more importantly what is the level of payment above which there could be a payment to shareholders...
RMMC Website update.
August 18, 2023
Rambler Metals and Mining Canada Limited (RMMCL) ("Rambler" or the "Company"), a copper and gold producer, explorer, and developer, is pleased to share an update on the completion of Phase 3 of the Sales and Investment Solicitation Process (“SISP”).
The Company is pleased to announce that, in consultation with the Company and the DIP Lenders, the Monitor has selected a Successful Bidder pursuant to the SISP. The Company and the DIP Lenders are supportive of the Successful Bidder’s Phase 3 binding offer, and the Company and Monitor are working diligently with the Successful Bidder to finalize Definitive Agreements prior to the upcoming sale approval application on September 11, 2023.
A further communication will be made to stakeholders ahead of the next scheduled court hearing on September 11, 2023.
Briefing out.
No financial detail of agreed sale. Next info likely 11/9 it says.
News here is well overdue even based on original schedule
Been a painful wait
Dabbled into rusoro mining I mentioned on here
They are in line for a $1.4bn payout.
With their current mcap there's a 6x upside
Can only be bought on HL as its a Canadian miner
Makes the potential lost here bareable
Disregard. Look at his post history. It's like a slightly more literate moon.
How certain are you?
Didn't you mention a $97m bid
Corrupted board members and liar ,inefficient CEO of rambler ruined everything .shareholders is going to get nothing ....news coming ..these rambler board and ceo are inhuman.how do they look at the mirror after ruined so many lives of shareholders , creditors, employees ?
Last communication on the website:
"Once a successful bidder is selected pursuant to the SISP, a further communication will be made to stakeholders"
These assclowns just can't help themselves, can they? Diabolical lying scum to the very end.
All this woulda-coulda-shoulda talk reminds me of the 'Old man yells at cloud' from The Simpsons.
https://knowyourmeme.com/memes/old-man-yells-at-cloud
Damn the whole RMM group for not pursuing Leah's best interests!
Please don’t choke on your 5p shares
At least I’m not spouting rubbish about having your voice heard blah blah blah, we could have done this and that!