Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
I expect Little Deer would not cost the same as a new mine as was previously operational. Also has lots of operational savings in view proximity operations. Until plans are released difficult to estimate costs but I be surprised if it was over 100m. Could well be significantly lower than this but dependent on mine degradation. Some previous work undertaken:
https://www.northernminer.com/news/thundermin-and-rambler-team-up-on-little-deer-in-newfoundland/1002663608/
https://www.sharesmagazine.co.uk/news/market/LSE20140522150008_011962378/Little-Deer-Drilling-Update
Three stripes, RNS was extremely good news and loan fully repayable within terms based upon production. There will be multiple stopes on the go and therefore no drop in mining. Looks like they are ramping up mining so see no issues with repayment and reserves confirmed for 20 year mine!
It's going to take time for news to filter out on turnaround of the mine and funding secured. Those in for a quick 10% will be getting out but there will be plenty of investors who will now see the turn round of Ramblers fortunes.
Cornish as always spot on. Contributions like this show the type of investors we have here. We are optimistic Ramblers going in the right direction but understand the risk which is associated with mining and location.
This BB has generally been full of knowledgeable posters backing view points with facts. Over the past month we have had a lot of discussions about non events, conjecture, company going into liquidation... What a load of b*******. Company has been clear on its path and communication. It won't be appearing every week but quarterly or as advised as per today!
Good luck to those who are invested here
Finance mid-term done subject to due diligence.
Revised production figures advised
Working from 6-7 stopes rather than 3-4 by year end. Massive ramp up in mine workability.
Most importantly impressed with BoD getting back to markets and Shareholders on time with a clear plan in place. Impressed in view of AIM company.
Will need to read RNS again but looks like only needing 2 million initially whilst loan agreed with New Gen which is over 3 years whilst the rest is contingency. So they have room to expand activities if required. As noted:
'Even though the convertible note facility allows for an additional US$28 million following the first drawdown of US$2 million, management intends to keep the US$28 million room as contingency only. The need for further advances will depend on operating results, metal prices and currency exchange rates prevailing in H2 2021.
Looks like fully funded at present and it was always known funding was going to be required. Initial restructure was all about getting mine back up and running. New finance looks to be mid term
Congrats to all investors who stuck by Hurrican and new investors who have seen a great return over last couple of months.
Still have to replace the BoD but based upon recent news and marshaling your vote your in a great position to do just that. Will need to quickly act afterwards to ensure shares continue to be traded. It doesn't look like the current BoD will be helping at all.
Looking forward to future plans.
I think people's expectations had got ahead of themselves. RMM communications have been pretty good since last year. I would have liked more transparency around stope collapse but that's miners for you, as its part of the risk and they had another stope under development.
I posted this elsewhere but thought it helpful to post here as well, just my thoughts on finance:
I think people are overlooking the fact that the company is not desperate for finance. They have adequate working capital, its a case of continuing development work at the same time. As noted, 'To ensure the Company has adequate funds available for BOTH development and working capital through this production ramp-up period, the Company is investigating financing options. '
With recent appointments its clear company are looking for finance but they will arrange it in due time. We could have a RNS tomorrow or in December!
Company is in a solid position with stopes being developed. It may be that one stope or two are put off until next year. Its unlikely, more like exploratory work will be delayed with contractors.
RMM is in a very strong position whether is raising money via a loan or a joint venture. They currently hold the cards following restructure of debt in December and raising of additional funding in February.
Of course there's always a risk with a mining stock but it's being mitigated as the months go by.
I still think Rambler will be in a great position by year end even though there maybe a slight delay in development work. Once again probably no greater delay than a quarter or so.
As I have pointed out before RMM unlikely to bag tomorrow but I can see gradual increases over the course of year as news is released each quarter.
Looking back at recent posts, it would benefit the BB to ignore certain posters as they are ignoring the facts stated in recent RNS. It is just devaluing the BB and trying to work out what's going on at Vast.
Positive SP yesterday and hopefully turned a corner. New management overseeing Mine in past few months so hopefully will now get a handle of the matters at hand.
There is no doubt the BoD is not the best team but they have got this mine back up and running so with higher copper price let's hope their cash flow projections are near the mark and there will be a good increase in the SP.
Will be looking to set up ore sorter for 2022 which will increase profitability.
The new mill will start to be set up but my understanding is that this could take two years to set up. Hopefully if Cornish reads this he will be able to confirm. That will also be a significant moment and hence a lot of people are talking about a 24 month turnaround in Ramblers fortunes.
This frees up current mill so could see a real ramp up in ore mining if the price of copper is still high!
Monkeydluffy, it all comes down to shortfall in first two quarters due to stope collapse. This has reduced 1st half revenue and will have longer impact as will not be able to fulfill copper hedge until 3rd quarter possibly 4th. We won't know until revised plan is released.
The directors have also looked to accelerate exploration work so they may want to expand this and also look at Little Deer if they are looking for a joint venture.
I believe they are looking for short term cash in view of RNS release. As they develop the mine more finance will likely be required. In my view this will be raised off the back of positive cash flow in 2022.
Currently the price of copper sales has been hedged. By the last quarter this will no longer be the case as sales should be above tonnage agreed and will reap full benefit of increased copper price going ahead into 2022.
As always with a spike there's a lot more posting whether good or bad. A lot more drivel as far as I am concerned and it's about scan reading picking out the good from the bad to see what's relevant.
A lot of the deramping isn't backed up by much reasoning just charts. I hope most know the real negatives in respect to
1.Good grade stope collapse
2. RNS position stating the company will need to raise additional finance.
3. Reduces copper mining output
This definitly raises concerns and how this news has been reported.
On the flip side there are many positives and to name a few:
1. Increased copper price - based on this alone the mine would be profitable once 2019 mining levels hit
2. Majority of debts swapped for equity
3. Leased equipment purchased therefore reducing long term costs
4. Derisking of mining risk by having multiple stopes ready for mining.
5. Reserves update putting company in a similar position as in 2017 in respect to reserves
6. Mine on course to hit mining target by year end (negative as stated above - lower overall tonnage to be confirmed as turnaround year)
7. Confirmed sale of non-core nugget pond gold plant
8. Initial talk of interest in Little Deer/ Whales Back mine which could raise additional finance
Point 1 alone is great in the current market and therefore well placed moving forward in my view. The above of course does not take into consideration ore sorting to come in 2022 which could potentially reduce up to 30% waste ore as well as reducing costs of transport. New mill to be purchased (likely to to take up to 2 years to dissemble, rebuild at the mine) and installed at mine. These will all lead to long term viability of mine as well as increasing tonnes of ore processed per day.
From an investment point of view looks to be a great mine to put your money in as looks to have written in the negative points noted above but very little in respect to the turnaround. Of course normal DYOR and let me know what else I should be looking out for as no one wants to lose money. As for timescales I'm hopefull the market will rerate SP accordingly but I'm looking at late 2022 to review my investment strategy but can see myself currently investing for a number of years.
Good luck to all invested here.
Thats what everyone is saying and it contually goes down in price. I believe the BoD are NOT doing a great job! With mine managers in place I am now hoping that maybe they can do a better job and get things moving in the right direction. I have an average of 8.6 which I am also down on. On hindsight I shouldn't have invested until there was an actual positive RNS. At current copper prices and drop I thought it was worthwhile risk/gamble but won't be investing any more until news released.
That's my advice to potential investors.
I also spoke to HSBC yesterday raising the issue. No timescales provided!
No longer invested here, but still wanted to wish you all the best of luck. Been a very difficult year and hope there is some success today for shareholders. Your not just fighting for your shares but all shareholders who have been taken advantage of by misguiding directors and their communications. End of the day directors are:
1. Determining the company's strategic objectives and policies.
2. Monitoring progress towards achieving the objectives and policies.
3. Appointing senior management.
4. Accounting for the company's activities to relevant parties, eg shareholders.
Do you believe the current directors have fulfilled these obligations?
It looks as though salaries were above the norm anyway and have been increased further. Of course if there is a higher risk in the mine this can be justified but would be good to know rather than guess this may be the case.
Looks as though there are still disgruntled employees according to RNS.
Looks as though management haven't got a control on matters with employees so no different to us shareholders.
We await updates on actual numbers, mining production of ore, etc so hopefully we can make some informed decisions rather than assume what's actually happening at the mine.
When will they stop lying and get their act in order. Does not make good reading. The plan was never good to start with and second plan is now being amended in view of wages and workers rights. My speculative punt which I placed because what else could go wrong is not looking great!
The only consolation is the share price is at all time lows. Saying that many have been saying this and it continues to go lower. There's got to be a point where someone else buys out the company, provided the mine can make a profit. With wages going up is there a profit still to be made? Thankfully copper prices have increased over past 8 months.
I think you will find most shareholders have invested in the past 8 months since change in BoD and new plan put in place and placings undertaken. Most have invested in the region of 0.2-0.38, in today's price of 20-38p. This is where the price was ranging for a number of months. Yes there was a recent spike up but very brief in view of days.
Most shareholders are currently therefore sitting on a profit or near to breakeven depending on when investing. Yes there will be a few who are currently on a loss but longer term I expect they will also see a decent return on investment.
Maybe the tone on BB has changed in past month following the spike but the fundamentals haven't changed in respect to the plan put forward. Currently in a time of consolidation whilst additional stopes are prepared to ensure stable mining in the future.
I trust everyone invested in the company knows the reason fo share supension in December in respect to financing which was successfully resolved and hence investment.
Of course DYOR and make up your own minds but I do like the deramping as makes me a lot more confident in my investment as others are trying to buy in.
Cornish I was looking at similar figures in respect to initial joint venture agreement but maybe less for 50/50 split. A great asset to have and there's definitly a deal to be made in the current climate.
That's the consolidation done. Hopefully as no longer less than a penny IIs may start to look at Rambler as it starts to increase mining activities.
Should have mining up to 2019 levels by end of year as workforce in place. As they will be working from more 2-3 stopes by end of year there will be enough ore to keep mill fully productive.
We have news to follow on Ore sorting which will increase grading and of course further updates on exploratory drilling. Saying that reserves actually looked great considering yesterday's RNS.
Looking forward to next 12 months.