Member Info for AJones

Hopefully all will be a lot clearer for us on 11th September and we can do what we need to.

Thanks for the update. It's all confusing and I am not sure how but I will trust what you say! No massive change as I wrote this off months ago

Just seem this? Still not sure what it means for shareholders? Shows as they have purchased all the shares for A$65m

The Company is pleased to announce that the Successful Bidder, AuTECO Minerals Limited (ASX:AUT)

(“AuTECO”), and the Company in consultation with the Monitor and the DIP Lenders, have completed

negotiating and have executed a Subscription Agreement (“SA”) that sees AuTECO acquiring all of the

shares of the Company for total consideration of A$65 million, pending approval of the transaction by the

Court and other customary conditions for a transaction of this nature. The transaction comprises upfront

consideration of A$35 million in cash and A$15 million in shares, followed by an additional A$7.5 million

cash payment and A$7.5 million in shares within 18 months.

I am struggling to find where it states shareholders will get nothing? Based on Net debt being $25m I am not sure how shareholders can walk away with nothing on a sale of A$65M? Rambler where not in that much debt were they?

AuTECO Minerals Limited (ASX:AUT) is pleased to announce that it has agreed to acquire the

Green Bay copper-gold project in Newfoundland, Canada, for total consideration of approximately

A$65M.

The Green Bay copper-gold project includes the Ming Mine and Nugget Pond processing facility

previously operated by Rambler Metals and Mining Canada Limited, a subsidiary of previously AIM listed Rambler Mining and Metals PLC.

https://wcsecure.weblink.com.au/pdf/AUT/02705676.pdf

Based on what I am reading shareholders will get something?

They have said the below;

AuTECO Minerals Limited (ASX:AUT) is pleased to announce that it has agreed to acquire the

Green Bay copper-gold project in Newfoundland, Canada, for total consideration of approximately

A$65M

$65m Australian Dollar equates to $42m US Dollar - Net debt is about $25m US dollars meaning there is about $17m US dollars left? Who gets that? All very confusing and we need some clarification! It is typical Rambler

That is what I have read but cannot make heads of tails of exactly what is happening to be honest! And what it means for shareholders!

The Company has agreed to provide the following consideration in return for the Acquisition:

(i) A$50,000,000 value payable at Completion, comprising:

(A) A$35,000,000 in cash (Stage One Payment); and

(B) A$15,000,000 worth of Shares, being 600,000,000 Shares based on a deemed issue

price equal to the capital raisings (A$0.025) (Consideration Shares); and

(ii) A$15,000,000 value payable no later than the 18-month anniversary of Completion (Deferred

Consideration), comprising:

(A) A$7,500,000 in cash (Stage Two Payment); and

(B) such number of Shares equal to A$7,500,000, determined by the VWAP of Shares over

the last 10 trading days on which Shares traded prior to the 18-month anniversary of

Completion (Deferred Consideration Shares), subject to Shareholder approval under

Listing Rule 7.1.

A deposit of A$3,500,000 has been paid by the Company which shall be deducted from the Stage

One Payment on Completion. The deposit is refundable in limited circumstances.

The issues of the Consideration Shares and Deferred Consideration Shares are subject to the

approval of Shareholders pursuant to Listing Rule 7.1.

Hopefully so!

July 18, 2023

Rambler Metals and Mining Canada Limited (RMMCL) ("Rambler" or the "Company"), a copper and gold

producer, explorer, and developer, is pleased to share an update on Phase 3 of the Sales and Investment

Solicitation Process (“SISP”), which was originally scheduled to conclude at 5:00pm Newfoundland

Standard Time on July 21, 2023. The Monitor, in concert with the Company and the Debtor In Possession

(“DIP”) lender have agreed to extend the deadline for the conclusion of Phase 3 by ten days to 5:00pm

Newfoundland Standard Time on July 31, 2023. This extension is being granted to afford the Phase 3

Qualified Bidders additional time to finalize their respective binding offers.

The extension of Phase 3 does not affect the overall completion date of the SISP, which remains at

September 11, 2023.

Once a successful bidder is selected pursuant to the SISP, a further communication will be made to

stakeholders

https://ramblermines.com/storage/press-releases/sisp---phase-3-extension-1689770698.pdf

Haha! I wish! Where have you got that information from?

I wish! Where have you read/seen this?

I have seen a lot do it over time and it was in the 100s of millions!

Wow! What a question! Nearly impossible to predict based on the RNS and how the market would react!

Honestly I really do not know. I would like to think it would be more than the current Market cap of £9m based on asset value and future asset value. It all depends on where Copper prices go and how many people put in bids. I personally think that 30p would be a steal for this mine but based on the current situation I do not think it will be 30p - Personally I think it will be more like 10p -15p but I really do hope I am wrong and we get the bids more towards 30p! As even at 30p this is very cheap considering the money some companies spend just trying to find a decent mine!

It is currently valued of having a market cap of £9 million with assets after debt of £76 Million - I am not sure how they will get away with just paying off debt and giving nothing to Shareholders!

Also again according to their website - "23.755 million tonnes of Measured and Indicated Resources grading 1.80% copper and 0.35 grammes per tonne gold, containing 945 million pounds of copper and 271 thousand ounces of gold, at a 1% copper cut-off ? The Inferred Mineral Resource estimate includes 6.430 million tonnes grading 1.86% copper and 0.38 grammes per tonne gold, containing 264 million pounds of copper and 78 thousand ounces of gold, at a 1% copper cut-off"

I am not sure what kind of value the above equates to in terms of value but I am sure its well over £1 Billion - I am not sure how they would get away with selling this based on current assets and potential revenue of over £1 Billion for £35 Million just to pay off debts and the Shareholders get nothing?

Other*

Not what I was saying! They already have £30 millionish secured against assets (Who will be first in line) - So the company is willing to give them an ADDITIONAL £5 Million knowing that they already have over loans secured against assets - Meaning they KNOW this mine is valued at considerably more than 35 Million!

It is not something I have come across before to be honest.

They must also believe there is still value on the assets as this has been secured against the assets!

Administration how? I have never heard of a business getting 5 Million in extra Loans to carry on with day to day running of the business? - To me they are trying to show that with the debt refinanced this would be a profitable mine. Do not get me wrong it is worrying but also promising at the same time.