Member Info for 203Heathfield

Absolutely DJ. There are obviously some variables as has been highlighted above but it certainly provide a view of where we should be heading.

Most importantly, these figures have been based upon figures provided by RMM, so these are not 'pie in the sky' calculations, so if they hit their projections, we really should be seeing a sp in and around the 3-4p mark within the next couple of years. As they move forward and look at ways in which to reduce the operating costs and increase production the valuation obviously increases and then we have the copper super cycle in full swing.

0.6p is an absolute gift IMHO.

These calculations were based upon us meeting the current mill capacity. As detailed in the presentation last year the introduction of the ore sorting increases capacity to 2,000tpd but presumably this is a ramped up increase.

If we are to change the processing rate to 2,000 tpa the revenue and profit is significantly increased.

REVENUE 2022

Processing Rate (Tonnes per day) 2,000
Processing Rate (Tonnes per year) 730,000
Copper Grade 2.04%
Copper Concentrate (Tonnes per year) 14,892

Copper ($/lb) $4.43
Copper ($/T) $9,754.90

TOTAL REVENUE $145,270,030.37

OPERATING COSTS

Mining (USD / T) $52.63
Ore Sorting (USD / T) $1.50
Milling (USD / T) $16.53
G&A and other (USD / T) $5.48
Concentrate Transport (USD / T) $57.08
Concentrate Treatment (USD / T) $54.19
Concentrate Refining $132.24
Total Opex / T $319.65
Processing Rate (Tonnes per year) $730,000.00
Copper Concentrate (Tonnes per year) $14,892.00

Total Operating Costs $59,208,550.92

TOTAL PROFIT $86,061,479.45

P/E Ratio 8

Market Capitalisation (USD) $688,491,835.58

Market Capitalisation (GBP) £495,714,121.62
Shares in Issue 10,731,098,677
SP in GBP £0.046

Cornish,

I have built up a revenue and profit forecast, detailed below, based upon information provided by RMM in their presentation last year and current spot prices. Costs exclude gold and silver credits but even with that they make very pleasant reading.

Obviously there are some variable elements but i would say that the numbers below are realistic, would you agree?

REVENUE 2022

Processing Rate (Tonnes per day) 1,325
Processing Rate (Tonnes per year) 483,625
Copper Grade 2.04%
Copper Concentrate (Tonnes per year) 9,866

Copper ($/lb) $4.43
Copper ($/T) $9,754.90

TOTAL REVENUE $96,241,395.12

OPERATING COSTS

Mining (USD / T) $52.63
Ore Sorting (USD / T) $1.50
Milling (USD / T) $16.53
G&A and other (USD / T) $5.48
Concentrate Transport (USD / T) $57.08
Concentrate Treatment (USD / T) $54.19
Concentrate Refining $132.24
Total Opex / T $319.65
Processing Rate (Tonnes per year) $483,625.00
Copper Concentrate (Tonnes per year) $9,865.95

Total Operating Costs $39,225,664.98

TOTAL PROFIT $57,015,730.13

P/E Ratio 8

Market Capitalisation (USD) $456,125,841.07

Market Capitalisation (GBP) £328,410,605.57
Shares in Issue 10,731,098,677
SP in GBP £0.031

https://www.ramblermines.com/files/rumble-ii-investor-presentation-october-2020-for-rns.pdf

Got mine in a few moments ago. Added another 6m to the pot.

ISA done for another year

Nice top up for me this morning, just over 6m. That the ISA maxed out for another year.

Exactly Aubery.

Although people like to have RNSs, i am quite comfortable knowing that the opps team are quietly going about their business, the RNS will start when there is something meaningful to say. This quarter has been quite quiet but I'm expecting news starting to building in Q2, with sale news, operations updates, financial updates and the like. £20k in the ISA on Tuesday will probably be worth £50-60k at year end IMO

Selfishly, I'm hoping that it stays at this level so i can buy another £20k in my ISA on Tuesday. I'm sure plenty will be doing the same.

Less and less large sells going through recently, certainty feels as though we are getting close to the end of the churn, just in time for some new flow.

GLA

Needs must and to be honest i would be hugely surprised if this fell below the placing price.

The placing was hugely oversubscribed which implies there is significant demand at this level. 0.31p is an absolute gift IMHO

They are always slow to change the data.

Your points is very valid though. RMM have a similar or lower market cap than many exploration plays in the same resource space. Its absolutely ridiculous. I have been averaging up in the last couple of sessions and will continue to do so if there is any further weakest. My largest holding by some distance

Aubery,

As of today our share count has increased to approx 10.7bn so our market cap is currently £33m but of course your point is still valid. There are numerous exploration play out there with market caps significantly greater than this. Once we get through this period of consolidation, I'm expect RMM to run and run as the new flow starts. Just a waiting game.

GLA

Try lang:en #rmm. This cuts out all of these posts

Carribean has spoken about this below.

The outstanding warrants associated with the CLN will be exercised at 3p and will generate approx 2m GBP. This along with the CLN, warrants at 2p will mean that COBR will be well capitalised and will not need to come back to the market for any more finance for the foreseeable future.

Craig has already stated that he believes that there is enough finance in place to see us through 2021 but of course this could all change. They may decide to expedite some of the exploration activities which may require additional finance but based upon what we know at the moment, we have enough finance to see us through next year.

Not wishing to teach people to suck eggs, but there two forms of dilution, one which adds value through exploration activities and development of the tenement and the other form which we see many times on these markets are designed to provide a lifestyle company where the BoD dilute but add no value. COBR is firmly in the first camp, so i wouldn't get to hung up about dilution, every successful gold producer has had to start at this point, even GGP and look where they are now!

GLA

Yes completely agree Carribean.

The location is key here. We were informed in previous RNS's, Clarke is located about a mile north of Baggy Green, so if they can confirm that this mineralisation is an extension of Baggy Green, this will be massive news.

Good Afternoon Carribean,

I think the vast majority of the larger trades have been buys but of course the MM mark them all as sells.

Very encouraging results today and bodes very well for the remaining results. As always patience is required here especially as we have a fair few Warrants to work through the systems.

It would be nice for Craig to issue and RNS and inform us how many were taken up and how many have expired

Most likely to be next Tuesday / Wednesday Dan, once these warrants have expired. If i was a betting man that is what i would have my money on.

Either way i am very relaxed

Yes you are right Carribean, i guess most were a bit worried about these ones. The CLN warrants are exercisable at a much high price and there are less of them. Either way i am completely relaxed about them, they all generate money in the bank and the way COBR have structured them they have to be exercised in the company's time lines therefore not at a huge discount to the current sp.

Dibs, completely agree, once the news flow starts, no one will be worried about warrants, they will probably be glad that we have money in the bank ready for further exploration. I have invested in small cap for getting on for 30 years and how many times have i seen companies bring out good news then to be followed with a significant discounted placing. COBR is well capitalised for exploration activities all through 2021, so we know this will not happen in our case. Bring on the good news!

GLA

Absolutely right Carribean, that was my understanding.

Craig wanted to avoid all the admin but it appears he will have to issue various RNSs to inform us how many warrants are being exercised. Only 10m or so, so far, so not a huge amount.

I'm not sure what the problem is with warrants. They have been known about for a couple of years and now they are being accelerated. Would people prefer for the 2p warrants to be exercised when we are at 10p, i wouldn't!

I think its smart, if you want them then commit to them now otherwise they expire. We are well capitalized even without the warrants with the CLN but in just over two weeks time we will have the warrants issue off our backs.

Completely agree guys, buy and hold for gold.

We are just in a consolidation period at the moment, bit of profit taking, then the next leg up. News should be just round the corner and I'm expecting it to be very good news.

GLA

Well 3.15p buy just gone through.

Have the MM got enough i wonder. Whilst i could have made quite a bit by trading this over the last year or so, i have never been tempted. This is a stock that you find yourself locked out of, whilst watching it drift away.