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5h1te coin
maybe the debt can be paid in******coin, then its done
RMM is a laughing stock right now. The last shred of credibility just went down the drain.
Shades of hurricane energy type shenanigans here?
Dear oh dear, these guys have been concealing all sorts of bad news. If this can’t get you struck off as a director, then what can?
If you guys really want to get hold of tb can tell u so all u put him pressure
I thought we were a a Billion pound mine.
Are these just lies
Ah, they were in default last year and hid the fact. Dishonesty..
Rambler right now.....
This position is like inviting your Grandma up fro Xmas and not picking her up from the airport until May
FFS.... Taken off my watch list.... The BOD are inept in every conceivable way.
At some point I agree with jones when spking tb never mentions anything to me abt this. Just looking for money. At certain points.
According to the Q4 report they produced 513 oz and 401 oz of gold in Q3 and Q4 (subject to assay results) they needed to pay the royalty company 300oz in each quarter so why did they not pay ?
The fog around the real situation is a disgrace, and as for John Meyer of SP Angel saying Bradbury was a 'consummate professional' what a total joke.
It almost seems the whole episode has been manufactured, the lack of concise reasoning for the defaults is the clue.
It looks like this is a write off, someone will benefit but not the shareholders, I really hope I am wrong.
How could they deliver gold when they do not own a mine?
All production goes towards repaying the bridge lender, who are secured.
Lower tier creditors can go **** themselves, although they could wind up RMM. Bit pointless as they are assetless.
Awful.
They signed the gold streaming deal at start q2, delivered then defaulted on the deal in q3/q4.
It wasn't mentioned in the quarterly updates or mentioned in the subsequent financial position RNS'.
This should have been disclosed to the market IMO. They've basically shafted elemental with $11 million dollars, of which $7 million had to be raised by elemental in financing.
Two places this gold has gone IMO:
1. Sold as needed capital however the period in question was before the full status of Ramblers finances was known/disclosed.
2. They used the gold production in Q2/Q3 to ensure they fulfilled the repurchase pre existing streaming deal they had with sandstorm. Which was US$7m less payable gold delivered since 1 October 2021 and 1,150 oz of gold to be delivered over the next 18 months.
At best this is epic poor management from or it's simply total dishonesty. In any event it should have been informed to market.
I'm not sure what option they've left elemental with other than to agree something to resolve the default to get some form of gold as they are already in default with NewGen which is asset backed.
Honestly makes a bad situation very worse and again genuinely sorry for those here who still hold.
P.s. Moon have some decency and stop posting best time for RMM. It's pretty disgraceful to say those things but today, really, get with the programme.
Atb
In fact. If he stopped supplies of the Au in July, & people were not notified and many continued to invest in the shares in Q3...... I am no lawyer.... But surely the BOD are running close to being culpable here?
I mine I knew they could not pay newgen that made sence yes u can’t upgrade mine pay of debts. I am suprized that they did not do gold. But in way it make sence. They knew abt problem ages ago so that means other company knew aswell. Meaning newgen and E knew ages ago. If they did not they not allow rmm to do what they doing now
To my mind. If TB withheld the July onwards Au to his agreed agent. As the RNS implies.
He should have issued an RBS on this then, for better or worse. This looks a deliberate and accountable action to hide the problems at that stage.
He needs to fully explain this. It's one thing running into financial issues. Another misleading the markets!!
one minute he writes, 'Why they not give them gold am confused at this part' and then follows up with ... is he the jolly jester of Rambler
We are in the dark so much, with the batteries running out fast on our flashlights!
Moon you’re full of ****. Earlier you said your confused, now you knew. Take your meds *******.
Not worried at all. I knew it would happen they knew I knew about situation. Am thinking they sorting out newgen first must had that money from gold to sort them out.. mine is running at full speed.
Rambler need a follow up Rns and just give us some straight answers to what’s going on
100%
I agree.
Hurry up Rambler.
Either tell us what's going on with OUR investment or shut the bloody place down.
This RNS on the gold snacks of some very deliberate stuff by the BOD. It says no gold was delivered in Q3 last year! As far as I know during that Q they were certainly still mining away....
So why no Au at all to that agreed agent....
There is something very fishy here.... Almost sounds that a deliberate action to withhold took place well before they announced the general financial issues.
Toby has a lot to answer to if he was deceiving his shareholders in July 2022....