Member Info for CaneToad

Several miners have been dropping for weeks now. e.g. RIOT has been dropping almost continuously since 27 Aug, about a week before NDX topped. I don't think it's a coincidence. It's not just ARB. With some luck, BTC will make a big move upwards and perhaps that will wake the miners again.

I have no plans to sell anything if the market crashes. I'd be adding... Remember last last, both SPX and NDX opened limit-down on several occasions, so owning ARBK isn't going to necessarily save you.

It was good to see BTC rise this evening, independently of NDX, but most of the crypto stocks are down and I'd expect those to go down with NDX if there's a correction. But nobody knows.

Fingers crossed for a good night for BTC. Already great for ETH over the weekend and I'll be looking to take profits. Maybe an interesting week for ARB as long as NASDAQ and the wider market sentiment holds. Very nervous about that.

Looking at electricity prices, I wonder why ARB havn't looked at Venezuela or Kuwait, though maybe the political instability is problematic.

There are some people on this channel that are already mining BTC and ETH themselves. I'm trying to gauge interest in some of us forming a co-op / partnership to do this on a larger scale... Let me know your thoughts. We can form a discord group to discuss if there's interest. ARB - watch out...

Here is the price vs 52w high for some of the other copper miners:

Lundin (Canadian): -43%
Capstone Mining (Canadian): -25%
Rambler Metals and Mining (Canadian): -80%
Central Asia Metals: -25%
Atalaya (Spain): -13%

It's not a fair comparison for Rambler due to the swap at the start of the year, while Lundin had some problems of its own and some are not pure copper miners.

@Strummer: "Do some research CaneTodie..."

Have you looked at the economics of the closest mine to Ming, which is the Minto mine on the other side of Canada? It has broadly similar copper grades and was restarted shortly before covid, after being bought from Capstone, who sold it when the copper price collapsed in 2017/2018. The main difference is that Minto has a higher capacity and an on-site mill, but it sounds as though Ming has a lot more people on-site.

Minto is back generating $20m a quarter, but they still need lots of extra cash and I expect that Ming will as well. The IPO for that mine is delayed and investor sentiment has turned againt Canadian miners. It's a bad time for Canadian resource companies. I continue to keep funds in Rambler, but I think it's reasonable to expect them to issue production guidance and to inform the market when major events (e.g. flooding, stope collapses) happen. That makes me furious.

The rock sorting is clearly a good thing. Thanks for the analysis @Afbouer. My concern is that they might not *last* that long and/or by the time they have it, I'll be diluted to zero. I'd be interested in any better estimates of how much cash they're burning and the effects of having to wait another month or two until the finance.

I am not looking for a lower entry. I'll buy more shares on progress againt the mine plan, rather than share price drops due to fickle investor sentiment.

There are some great bargains in the copper mining sector at the moment as all have fallen sharply over the past few months. I suspect half of the fall in RMM is due to that.

Good luck.

Robert is always promoting his next book...

@Monkey: "I suspect canes motives :)"

My motives are to warn others of being sucked into being the bag holder for others failing investments.

I am long here, but as I've said 101 times, no sane copper bull invests solely in RMM as his only copper play. It's sheer madness. I'll add a decent amount into RMM if it ever stops falling. I don't try pour tens of thousands of dollars into a perenially dropping share price.

I'm happy oto add on genuine fundamentals.

This is the first board that I've come across with paid stooges. That in itself is no doubt a form of Market Abuse.

@Poptimist: I don't like doing this, but I'm going to unmask your real identity here and now. I'm sorry, but it's necessary:

https://www.youtube.com/watch?v=ZqLT3PmOKtQ

@Pops: it's easily solved. Don't put all your eggs in one basket. I like ARB, but I'm not going to go all-in on 1 share in a sector with several other good plays.

NO. I've come across his posts on several boards and while I don't know the guy and sometimes disagree with him, he's definitely not a ramper or de-ramper. He's one of the better posters on this board, posting useful and relevant content along with the occasional slap-down.

Geez, I'm going to sign-off now. There are some masochists here who invest so they can watch a share price drop and then say that it's great, backed up by paid stooges.

@Fukurokuju79: "They have a producing mine, safe juristiction, the infrastructure, the team"

It sounds as though you don't know about the main copper producers on the LSE, TSX, ASX. None ar edoing well at th emoment. There are lots of bargains.

1) There are several of copper miners in safe jurisdictions. e.g. Atalaya is in Spain and is on a PE of 4

2) The infrastructure for Ming is poor; that's the biggest reason they've not been profitable in the past 5 years. Their mill is 42km away, while the profitable mines, such as at Atalaya have brand-new, state-of-the art mills *onsite*. FYI: they have no debt.

3) Regarding the RMM 'team'. I'm not impressed by the management team at Rambler. They have no respect for my money. Rambler has lost money 5 years in a row. Atalaya has made increasing profits 6 years in a row. Do you understand the difference?

Good luck if you're adding. You are braver than me.

Alfreddie: "Took a small position in RMM this week due to wanting a copper play in the portfolio ."

I hold RMM in small size as a high risk/high reward copper play within a 'copper portfolio' of 5 miners. If you're mostly interested in 'copper', have you considered some of the other copper plays such as Atalaya Mining, which is incredible cheap, has an impeccable balance sheet and which is net cash or Lundin Mining (a Canadian producer), also with an impeccable balance sheet or perhaps Capstone Mining or Central Asia Metals. These mainsteam copper plays are more likely to track the copper price than RMM, which has lots of toher moving parts.

If I had to choose 1 copper play, it would 100% definitely, not be RMM. It's only to add in small size after the other, established, mainsteam copper plays. That's unless you are happy with AIM companies, which in ~80% of all cases, lose you money.

I don't mean to put you off, but somehow there is a misconception that RMM is one of the only copper plays on the LSE, which is complete nonsense...there are lots. And actually, no copper play is doing well at the moment. They're all cheap. Some of the best are down at PE of 4 and are rock-solid.

Beware - some people on this board are paid stooges who are ramping this stock.

Anyway, NASDAQ is recovering and if BTC surges again, maybe we'll rise as well.

@Phoebus: "I don't think a drop in the NASDAQ really affects ARB"

Not sure if I agree.

A drop in SPX/NASDAQ affects most shares in the UK/world... there is no independent UK market, just the US market. If US crashes, UK follows. If US surges, UK might or might not follow. e.g. the crash last year even crashed RIOT/MARA by 50%.

So there are two effects here: BTC and NASDAQ. It's not just BTC alone.

Guys, as I mentioned this morning, our fate is tied to Nasdaq and it's dropping quickly. All the miners are dropping with Nasdaq. It's that simple.

@Monkey: "Market cap is v low for a soon to be producing mine with full complement of facilities"

There's no question about the asset. There are lots of miners who had a great asset, but lacked the finance to develop it. Catch a falling knife at own risk.