Member Info for Aubery

The proceeds of the sale are in dollars therefore forex rate plays a part.
It will not influence the special divi of 1.8p but it will influence what’s left in the company. Weak pound is better for shareholders

As noted in the Company's interim results, announced on 26 September 2022, repayments of capital on a loan balance of US$16.4 million provided by NewGen Resource Lending Inc ("NewGen"), the Company's principal secured creditor, are due to commence on 31 October 2022. The Company has been in active discussions with NewGen to defer or reschedule the repayment of its loan, which is intended to form part of a wider restructuring of the Company's finances. However, an agreement has not yet been reached to defer or reschedule such capital repayments.Accordingly, the Company's ordinary shares will be suspended from trading at 7.30a.m today, pending clarification of the Company's financial position.

Has Rambler in the last few years ever hit a production forecast?

Answer is no

Multi

‘Not correct they make decent profit at this copper level ‘

Really??
You cannot ignore all the non-operational costs.

Even if they kick Newgen down the road (at an overall greater cost to RMM)and get more equity they are not profitable

FTSE
It’s not just the hedge though. Hedging would have given a guarantee on price and with hindsight more cash in than they actually received.

The massive elephant in the room is TB didn’t know, until too late, that he’d run out of cash. Basics.

Ploughed on investing in the mine, expensive drilling and lab costs… all while he was running out of cash and not mining enough.

Whether he’d hedged or not I would want a BoD that could forecast cash flow and manage day to day opex and capex. They couldn’t.

Is my maths correct….
$38m after receipt of proceeds
Current exchange rate makes £34m
1,393m shares
= approx value of 2.4p per share
1.8p return to shareholders
Leaving approx £8m (0.6p per share) in the company

The weakening pound helps us significantly….

Looks like an easy win for 15-20% return on current share price… on the basis this goes through.

Are you in JR?

JR
Without news how do you see 12p?

Yes AJ, all speculation

And bloody well shouldn’t be speculation

Especially after those two bloody car crash RNS

I see the mid-long term case for the mine with an increasing Cu price

But

Having a profitable mine is about much more than C1 costs. Especially one like Rambler. The problem historically was too little investment, development and capital investment.

My faith in the BoD is gone, I just don’t trust their numbers and don’t trust their forecast C1… I might be wrong and hope I am

Good luck all

LL
Using C1 guidance only as your measure.

What about all the other costs… debt, development, liabilities …etc how are they paid for?

Not much headroom

I imagine there’s been pressure on staff and contractor costs…

Of course Leno of course…

No seriously mate, no one is investigating, no BoD, no institutions, no serious retail, no TR1’s… etc

Feel free to bury your head in the sand lol

Tygra
The only folk buying and selling now are traders

My guess is that the AISC for producing is currently higher than the current Cu price…

My annoyance is that this is a ‘guess’ because the company have not updated us….

Problem is moon if they do go huge as you wish and they use say D4E, that wipes out existing shareholders. Company and employees fine but existing shareholders diluted to oblivion. You are talking about complete recapitalisation of the company….

Placings and rights issue now are unlikely to provide material amounts of cash due to v low market cap. Who knows might play a part of a mix where existing shareholders are thrown a small bone….

BoD need to set the record straight asap. Especially on costs to mine and AISC.

I think Moon has covered every conceivable outcome over the past 2yrs therefore has all bases covered. From going to the moon to going bankrupt.
Hardly Nostradamus, more daily sport horoscope…,

Until clarity is provided it is impossible to put any accurate valuation on the company.

Moon
They will not go bankrupt correct. There is ‘valuable’ asset here.
And as you have been pointing out they need a stack of cash.
Said cash is now needed urgently.
Now how do you envisage they will get said cash….
D4E, placing, rights issue, part sale….charity auction

And how will the structure of this fundraise affect shareholders and stakeholders…

Very very hard to see it being favourable to current shareholders based on the ambiguous RNS that landed earlier.

A bloody car crash IMO for existing shareholders.

AJ
You certainly wouldn’t try a placing AFTER an RNS like that