Member Info for 203Heathfield

What is going on with this board, can people not read!

The RNS issued this morning which was supported by photographs, states that the optical sorter, which was shipped from China, has been delivered to site.

Why are people talking about delays to process equipment which has been delivered to site.

WhiteMan,

I think you need to look at the report on the 6th March which highlights the debt position. All debt costs have been converted to USD as detailed in the reports. USD 35m in secured debt, USD 20m in unsecured debt, USD 5m in administration / DIP agreement costs. DIP costs will be paid first, then secured debt, unsecured debt and then shareholders get what's left.

Acquisition value of AUD 65m which converts to USD42m as current exchange rate. USD 42m covers DIP, secured debt and USD 2m towards the USD 20m unsecured debt. Shareholders will not get a penny.

Shocking situation. I like many have lost quite a tidy sum here but it's done and we need to move on

People are irrational these days, besides its a tiny volume day, not quite sure why your getting yourself worked up. If you are worried, sell up and move on. My holding in CGO is significantly more than today's total volume, I wonder what your mood would be if I sold up!

Some more 50k trades going through. I wonder who that could be, maybe more for Institutional Investors

Well done on the trade wyndrum, I don't trade generally because I am no good at trading.

Long term hold for me, not looking to take any off the table any time soon. It may have gone from 10p to 32p in the last few months but it has fallen a long way and now it appears to be in a far better space than it was at ipo at 200p. I'm fully expecting this to go all the way back to ipo value, so I will atleast hold for that

Meant to say 32% increase in little over a week.

Small movements aside, trading this could add a few more shares to the pot or could catch you with your pants down, like those who cashed in a 32% increase on Friday.

I'm happy to hold and ride out the small retraces as this story continues to build. MMAG are in a far better position now than at any time. They have fallen from 200p to 10p and now its rightly recovering some ground. I fully expect this to get back to IPO values in the next year or so and am happy to sit out any minor corrections

2m sell at 20.5p just reported at 09:59am this morning led to the fall.

Obviously not a PI

Absolutely Redkite. At 4p shareholders have already lost 80% in just over a month, so not much to lose. I think mass dilution will be rejected and as you say force the company into a sale

They will have to call an EGM but they will have to seek approval to issue shares which I suspect shareholders will reject. I don't think they have any headroom, they issued shares in February which covered the 10% they were able to issue without shareholders approval, so I think any new shares will require approval

Mukti, One key factor you seem to have overlooked is that any dilution will need shareholder approval. Do you really think that shareholders are going to approve a 4p dilution?

The Regulator,

I guess it is down to the previous performance. Most people look at 1, 3, & 5 year chart and probably decide against it. Others may wait until the turnaround is in full swing before they commit to it.

There is no doubting that RMM has been an investment nightmare for the last 5 years and i guess it always take time for people to believe that the tide is turning.

Bilbo,

'The way the management have performed so far this year hardly fill me with confidence'.

Are you referring to the stope collapse? Do you think this is down to management? Stope collapses are not uncommon however most mining companies have multiple sources of production. We only had one and this had a significant impact on production. Since then, the company has mitigate this risk by creating further stopes and as per the last RNS, we are likely to have 6-7 production sources, so the impact of any further collapses will have a minimal effect on production.

The measures the BoD have put in place to mitigate any further risks down the line, fills me with a huge level of confidence for the future.

High risk? Really. I believe high risk mining stocks are those which are 5-10 years from production which carry funding, exploration and jurisdiction risks. Most of these in the copper space have a higher market caps than RMM at the moment.

I believe that our short terms risks are very limited.

1. Copper price Imploding - Extremely unlikely given that there are a shortage of new production facilities around the works and given the likely demand as the world responds to carbon reductions.

2. Stope Collapses - Unlikely to have any the significant impact that the last one did. We only had one stope in production in March, by year end we are likely to have 6-7, if the BoD execute their plan.

3. Management don't achieve their y/e Plan - There are many factors which may impact this, over ambitious targets, lack of productivity, weather delays, lack of trained staff etc. I guess its possible but given the track record of the BoD I believe it is unlikely.

All i have seen so far is the company putting in place to mitigate and further risks down the line.

People talk about huge risks but i just can't see them. Sure every investment has risks but given that our profit in 2022 is likely to exceed our current market capitalisation, I am struggling to see any significant risks on the horizon.

GTMUFO,

Brilliant, so funny! GL with the proposal.

Goingtomoon,

I'm clearing out the loft and I have come across some English books for the under 5's. Did you want me to send them over to you?

GTM,

WTF are you talking about now, what a garbled mess that was! You're trying to save people's profit, nice one, I'm sure that anyone who is stupid enough to take your advice, will be sure to thank you, when the inevitable happens and RMMs to full production.

They can only sell once.

Having said that, this is ridiculously priced now and now back to where we several months ago and not too far from the previous placing price. Its hardly surprising really, you just cannot write an RNS like RMM did and expect any other scenario. Poor show by management really but they are in it for the long game and couldn't care less about the sp today.

If they want to reinstall confidence that progress is being made, this is not the way to do it. I like many other, hope that they provide some clarity regarding finance in next weeks AGM.

I share Antharry's scepticism.

Too many people on this board want to tell everyone how many shares they have, so in some way that may provide them with some street cred. Some on here are very knowledgable, there is no doubting that but DJ was an absolute Joke. Mocking people for selling and then selling some (or all) of his holding on the first delay news, whilst telling people it was a minor bump in the road, so he could get his shares away.

We had the cretins of a couple of weeks ago talking this down, but people like DJ are far worse. My advice is believe in your research, ignore the noise and don't believe anything that is posted on this board

I think that the RNSs have been OK. The large placing has provided funding for additional equipment required to reach production capacity, planning for duck pond relocation and funding exploration drilling. Warrants were already known and provide additional funding and we knew that the 2020 report which show that production rates were well down on historical level due to COVID and various financial and operation reasons.

I'm OK with all these RNS's nothing out of the blue for me but i do get your point that even with this level of dilution we are still managing to move up through the gears.

I guess we can all sit at our desks and work out that if they just reach previous production rates of 1,350 tpd, we should be looking at a 5 bagger from this level.