Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Know0.
For my part. No intention of taking the p*ss. I have 925,000 reasons that this is far more serious than that!
Thank you for confirming that far from being in his "confidence". You know (pun intended), no more than the rest of us. More BS then from our friend.
I simply tire after >2 years of his methods, of his trying to be all things to all men. Asked him some direct questions today, on his claim that it's the best time in RMM history, and that TB is the man to run the company due to his great job done as CEO ( note.... credit given for his mining skills, but .... That isnt actually his job role as I understood it!)..
Moon cannot answer direct questions. Deals in obfuscation, and/or offering up all options. So can always claim he's right.
I understand you hold, or held a large number of shares. Does huge dilution, or fire sale to pay bills appeal? No.... me neither frankly.
We all rate the asset, why many of us bought in. But is someone really, & in this distressed state, going to buy it for a quid!?, @ X20 the current suspended price. When if Newgen take it into admin and sell it they can get it real cheap surely..... I hope your right sir. Would love it. But can I see it in the current macro, and with companies pulling up the drawbridges generally .......tbh hard too?
You seem an intellegent type. Hitching yourself to that proven fruitcake is hard to fathom frankly?
Cheers.
similar situation to another Canadian stock - PUR (main market). They have decided to cease production and put mine on care/maintenance but still allow trading i.e. no suspension (yet?). They have obtained CCAA protection but not ruled out a sale of the company. What a year 2022 has been (followed by lots of swearing and head banging lol). GLA, Dan
Agree moon - Im not worried - pi55ed off but not worried - have not lost any sleep and have a lot riding on this!
Fingers crossed for all us holders
GLA
I am going to find this strange but I am going to "defend" Moon on a few matters!
We have still never met or spoken and unless one of my guesses as to what will happen are along the lines of what Moon believes / knows, then I am non the wiser as to what the outcome will be (although I would like to chat with you Moon but you dont contact me?)
HOWEVER - the default is not an issue - NewGen will have been in consultation with RMM for the last few months and will be fully aware the payment wasn't coming
For those taking the urine out of Moon, how many of you jumped on a plane at your own expenses and travelled to BV (a days drive one way by itself)? I take my hat off to Moon for doing that and whether he knows more than us or not, he went there kicked the tyres
The only way RMM will be a mid tier mine in the short term is by being bought by a mid tier mining company.
I am still of the thinking that the BoD are trying to avert a hostile bid and thats why they suspended last Thursday - I hope for all of us holders that an offer is forthcoming that they can recommend - anything under 75p the buyer has done well. Anything over a £ the BOD have done well
Other options are some other form of deal - asset sale of LD / WB or some quasi partnership with a larger mining company
BUT, this isnt going bankrupt
4 full crews are mining MM round the clock and mill working to capacity - so output (which will be down on the originally expected 7-8,000 tonnes annualised, will be reasonable IMO
No change today than it was last Tuesday - looking fwd to what the plan is one way or the other
DYOR and GLA
I’m actually pinning my hopes on the fact moon is in fact correct. Can’t really see any outcome other than a sale ending the torture.
But moon, if you are guessing, speculating you need to clarify this in your posts. I you just believe this, say so, or if you know something tell us or just shut up about it.
Moonie you can type at last. 0h and by the way anyone can mine crypto all they need is some software and a PC
I don’t care if my shares devalued thinking long term not bothered really not if it was 2020 then yes I would be
Hi StrummerJones, feel your frustration. As you may be aware, quite a few of us LTH are also on a Discord group, your very welcome to come and join us...
VisciousHippo....thankyou..
I think until any court order is granted ,then the company viable..
I suspect that with arguement and counter that it will take more than a few weeks...
Still all to play for....
Moon.
Your "clarification" is as opaque as ever old chum...
Yes many of us also saw this as a mid tier. That's why we invested. But given the current financial state. Just how can that happen..... Without the destruction of the share value for existing holders. Care to elaborate?
You say that another investor (know0) understands? What does that mean.... You forming a cartel to rescue the company. Again more obfuscation.
You say the mid tier will still happen. But you "can't say how"..... How do we read that.... Wishful thinking, and you don't know... Or again more nudge nudge.... I know stuff but won't say..... S*it or get off the pot!
Finally you don't care about the default. Well most of us flippin do! There is a real chance that without a plan here existing holders will come out with sweet FA relative to their investment levels.... If I recall, even you in your ramping, then de ramping days admitted to buying shares here at levels way above where we are now... If the company massively dilutes, or has to be sold to pay debts etc. Your shares, like ours will be impacted immeasurably do you not think?
I can't see much value in carrying this on tbh. But just to be clear. Your games here were annoying when things looked good. When things are very difficult. Any slight charm you possessed has run out mate.
Lenders don't give care, as long as selling the assets will cover the loan plus interest and fees.
If I hadn't already laughed my **** off at Moon's hysterical and embarrassing you tube videos, I would swear that he was some spotty prepubescent kid living in his mums spare bedroom with posters off chickens and UFO's on the wall, spending most of his time playing Call of Duty or practising Fortnite dance moves for TikTok! Not finical advice..
· The Loan Note will be secured by first ranking security over all assets of the Company and its material subsidiaries;
Default will mean Newgen can go to Court to obtain right to sell the assets required to pay what's due. I imagine it takes a few weeks to get Court permission.
The Court will probably take into account the risks to workers (jobs/ health and safety etc), and maybe stop Newgen just going in and grabbing random equipment. Maybe the Court will order the Company to find a buyer for the business intact and report to the Court by a certain date with progress.
But I am guessing
ok let me be clear rmm is about to change for first time ever its going to be a mid tier i cant say how but really best time in rmm history. know 0 understands. idont care about default normal
The issue is that the mine requires additional funding (for ore sorter etc) to reduce the long term costs in which case it is very much viable. So it should be an attractive acquisition for a company with deeper pockets
LL
I’ve read the 21st RNS
We clearly disagree which is fine
Your opinion is the mine is currently viable (when taking out Newgen loan)
My opinion is the the mine is currently not viable (even when excluding Newgen)
Good luck
I genuinely hope this comes good for shareholders even if I don’t think it will
Aubrey, you'll have to read rns 21st October.....
My point was , what is the resolution process in the loan agreement for default...
And more importantly , is there a timescale?
C1 costs Q1 were $6.42
Q2 were $3.47
They claim that June C1 were $2.91 but good luck if you believe that…..
With some confidence C3 costs are currently well north of current Cu price and that excludes Newgen finance. IMO
Plus I reckon they’ll be well behind with production against forecasts making fixed overheads prorata more expensive….
LL
That margin is not sufficient to cover non-operating costs.
It’s not ‘viable’ at this Cu price irrespective of the Newgen loan liabilities (interest and repayment)
Aubrey......we are generating a cash margin..
Unfortunately this is not sufficient to repay loans..
Paying contractors in shares
Not paying aged AP….
LL
That’s not true
We are not viable at this Cu price
Factor in development costs, trucks….etc
I imagine zero drilling and development happening… which is not sustainable medium/long term
Why is it we haven't heard from Mr Bradbury.
After RNSs in the passed ' we normally get a response from TB. Haven't seen a response from TB for a while.
What chaps me is ' why spend money on new equipment when the money wasn't really there.
And what happened to eat your elephant slowly when it comes to business.
Smacks of incompetence I'm afraid.
The answer to life, the universe, and everything.
What does ‘42’ mean?