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I have a small position in Rambler.
I initially thought the suspension and financial reorganisation would be resolved reasonably quickly, comments from John Meyer (SP Angel, the Nomad) saying he could not understand why the stock needed to be suspended aligned with my thought process.
As time has ticked by it seems, despite many initiatives by Rambler (cost cutting, hedging etc), a rising copper/gold price and generally improving market conditions, there is still no agreement with Newgen.
In my view the longer the delay the more likely a settlement will not be reached, there is no real explanation from the company. Toby Bradbury (the CEO) has continually pointed out how Ramblers gold/copper reserves is inconsistent to the modest debt position, this in my considered opinion makes it even more unusual that an agreement has not been reached by now.
I am bracing to lose my entire investment here, in my view if Newgen wanted to play ball they would have done so by now, what is there to discuss after all, either they agree to restructure their loan or not, it should not take circa 3 months to decide.
I fear Newgen's actions will wipe out shareholders, the loan arrangement was woeful, to offer the entire assets of Rambler against a $20m facility was abysmal, I sincerely hope I am wrong but the last update had shades of grey in it which I feel is ominous.
As for John Meyer suggesting that Toby Bradbury is a 'consummate professional' well as a shareholder I could use other summaries !
Laughable really.
36 posts in 30 days from the talking Ape. That's not even counting his newly created recent buddy buddy accounts and those all negative postings.
All 36 extolling the worthlessness of the investment, strap lined with the mantra:
"Sell out all existing holders, as soon as you can directly this reopens"....
With of course the unwritten, but clear as day adjunct of....
"So I can buy in again AS LOW as possible, if it looks even remotely viable given the resource"...
Frankly, all those still invested are very well aware of the difficult situation that the share is in, without this constant dirge... We will all therefore no doubt make our own decisions based on the actual details of any deal (or otherwise). So can't see why you are bothering.
Investors await that detail now still, and that detail is all that counts. I hope to see this soon, & in the current Q....
But how desperate are some people to influence that buy/hold/sell call... hey?
If you are looking for any positives. I guess the constant attention of the well known swing traders may offer a bit of solace, in a funny (though tediously repetitive) kinda way.
Hopefully the new CFO will be galvanising TB to update the market as soon as practicable. Then one way or the other the issue will resolve and all concerned can move on.
Have a good weekend.
Look at the agreement on Companies House. When the loan is in default, control of the company is given to NewGen.
Having worked at Bridge Lender where this senario played out a hundred times, I can tell you the primary purpose of Newgenz management of the mine is the maximum rate of return and repayment of principle, fees and interest as soon as possible. If they don't sell the mine they will wait to maximise the return.
At current CU prices the mine is problely profitable but a decade away from clearing its debt. Will Newgen wait? Hard to say, but quite possibly
@Monkey.
Yep had you blocked for ages after your multiple about (2) faces. Along with Moon and one other account.
I cleared all my filters after that RNS. Of course in your case it's added no value.
You are quite entitled to wait to reinvest if it suits you. I have no issue with that. But I detest your chipping away. As said we know ( those in for a long time). The situation.
We don't need your snide reminders.
As to rpers. You need to read my posts. I have repeatedly said that I try and be objective and dislike those that don't acknowledge the serious nature of the situation here.
But really 37 posts in 30 days out of the kindness of your heart to get people to sell if it reemerges....
Get a life Mr Primate.....!
Oh, and btw Monkey.
I asked Smartpunter a query on the legal situation of a sale. The outcome may well not be good for holders.
I know that that doesn't fit your narrative of some of us "pumping". But I am interested if his experience can uncover some truth of relevance to the invested.
Rather than simply listening daily to your bile....
Monkey face….. Apart from telling everyone to sell is there any thing you think we should buy at all?
Why would anyone waste so much time on a share they are not invested in. Posting the same message daily. I read on another board the theory of the paid poster.
I am not sure about that. But it is curious that a simple look at the 40 odd posts in a month past. All are targeted at RMM. Not a single one on another share....
That's dedication to an investment you clearly detest. Areno longer holding, and have no time for.
There are, in the current market. So many good opportunities. Why would one just hammer away daily here?
That's a question that is never answered.
So either a paid deramper. A swing trader looking at a great resource, poorly managed, but with potential to re-enter if one talks it down. Or simply a sad vindictive internet troll.
Take your pick.
What's the question Monkey....
Will I sell my shares if what..... They issue loads of new shares and warrants was it?
So what's the point in your worst case....
If it suspended at 5p. My AVG is an open 35p for 925,000 shares.
If I didn't sell at 18p, 14p, 10p on the crash down.
What would be the point at well sub 5p, that it's probably to be with huge dilution.
I have nothing to hide..... How about you....
40 posts in a month. None anywhere else.... Surely a smart Monkey with so so much to say has other fish to fry also.....
Very telling!
S.jones
925000 shares@35p average .most of the lth have similar average .with 4.20+ cu and 550+ ton/month of production we will see 40p+ any time this year .we have great assets ,we just need some extra te and money to dig it out and sell to market when copper is keep rising .remember last year this time with 3.49(hedge price )cu price and 200+ton/month production we were talking about £1 by this year .
Yes they invest more to fix the mine for good and now it already showed how it can produce 650+ ton/month cu in this coming booming copper market .$11000/ton is expecting by q42023 and by then all our problem will be solved .Once they cleared their old account payable in 2 months and rearrange debt with new gen and come back trading by March April time sp should be rise more quickly than how it went down and go back to where it was before car crush rns .
We are a producing mine of a metal which is called "metal of the century" .
If Gwmo got money and Kodal well u have ur answer for rmm
Moon do u understand yourself what u have written ?
Yes Kodal got 100 million Gwmo got 1 million rmm get all done
More whispers and rumours about due diligence about an outright sale, but as ever no evidence at all for this.
This share is suspended and the only reason why anyone is de-ramping is because they committed the mitake of selling at the bottom and are seeking a re-entry point when it re-lists.
It’s amazing down here and keep saying we gonna hit it big. This is moment rmm be in top ftse. This is point rmm gonna be ready. Know 0 knows
Okay u need to understand that don’t matter how rmm get money they got it. Question is when they do. Rmm invest in cost saving measures and upgrade mine to state of art. With 100 million they need to get. Well then we see we’re rmm will be.
Kodal got it Gwmo got money don’t matter what we do it’s matters long term no one invested here for short term it’s amazing what rmm has done.
Who gonna give 1 million to Gwmo who done nothing for 10 million but we in copper boom rmm grade are amazing to the world. Impossible to get grades that rmm get today
Iluvise68 ,what's the source of sell rumours ? If they sell then we all will get at least 60p+/share in this copper market .hope they just sell and we all come out from this mess which is created by BOD by not hedging last year when copper was record high .
there's mention of whispers/rumours on the ADVFN board