Member Info for CaneToad

I cannot see the sp holding now. There's nothing to support it. It's quite possible now it's going to sink to the 14-16p range. We literally have nothing to go on and though I think there 'could' still be upside here, especially if some cheap shares can be picked up, this is starting to look shaky, to say the least.

With 280 people and an average Canadian mining salary of ~$76k (CAD), the weekly staff costs are at least $409k, which is $1.8m a month. From the 7 May 2021 update, revenue for the prior 3m was only $7.06m (presumably CAD); that's only $2.35m a month. With some staff now isolating with covid, loan repayments and operational costs, this looks tight to me. It looks to me like they'll be burning cash. I'm hoping the production is a lot higher than communicated on 7 May.

BTC definitely looking the strongest since 24 Sep. Presumably due to the Jerome Powell comments last night.

@afbouer - solid piece of analysis. Thanks.

@Swanny: "I ended up with five tranches last time it dropped further than I thought"

I think I've had 4... Do you have multiple accounts or just one pool of shares?

"Expect price to drop cos its Capita……"

No. Maybe the price will drop, because the FTSE itself is down, as are all markets.

I'll be adding.

@Poptimist: "Great link but won't stop the FUD anti army banging on they will. Thing is any ban screws that instigator not bitcoin. Nice little btc rise this a.m."

I view it differently.

I think our fate is tied to the Nasdaq, which just had the worst month since March 2020. US Futures are also down today and risk aversion is creeping in. I don't think this is an ARB or BTC problem. It would be great to see it move independently to the equity markets, but it's looking like we're joined at the hip.

These are really useful videos. Thanks.

No. That has now been made clear. I think this is a big moment for crypto and will bring in institutions.

https://www.coindesk.com/policy/2021/09/30/fed-chair-powell-says-he-has-no-intention-of-banning-crypto/

It is now just a waiting game.

Further strengthening of the balance sheet. JL doing exactly what he said he'd do and on time. I like that.

@Oiltap: "Comparing a company on AIM with a turnaround plan with companies with ‘impeccable’ balance sheets is the first reason why the comparison is invalid. There are others. The market cap is exceedingly low while the management work the remediation plan. "

You are misguided. Without funding at a decent price, the equity value of this company might possibly be zero.

@Oiltap: "Building value is not an overnight job. Different folks different time scales different levels of patience. Simples."

What I am talking about is treating shareholder's money with respect, by explaining why the funding has been delayed for a second time, rather than treat us like total mugs. That is the responsibility of the directors.

@antharry: "the fact is it hit 60 + on pure speculation of the ' turn around' going perfectly well, it hasnt gone anything like that at all. "

The FACT is that it was the fiduiciary responsibility of the directors to inform the market as soon as was practically possible after hearing bout anything that was market sensitive (i.e. flooding, stope collapsde). If that had happened, then that ramp to 60p would NOT have happened and most of the board members would not be massively underwater and have most likely, lost their money.

That amounts to a direct ignorance or abuse of LSE/FCA rules. Period. I will be chasing. I do not care what paid moderators here do in deleting these posts, the LSEG/FCA will recover them.

OK, I now see that certain members here have paid money to LSE to be a moderator. What I suspect is that certain 'experts' here are actually working for a certain brokerage......................

Wrong. There are copper plays, e.g. Atalaya that have zero debt, masses of cash and are priced on a P/E of 4. Even RIO is on a P/E of 5.98 FFS and they pay 10% in dividends!

You are high on your own air or out of touch with other copper plays if you are predicting this is a 10x in the current environment.

Sorry. I am averse to BS.

I am an annoyed holder of RMM. There is absolutely no reason why management should delay a delay without explanation. It is shonky. It is unprofessional, just like the decision not to tell shareholders about the collapse or flooding was shonky. Wait, that's not just shonky- it's a complete abuse of fiduciary responsibility and the directors could be in trouble. I will be chasing.

Maybe the spell worked! BTC @ 43,863 and ETH @ 3021.

Let's hope the Whales are not screwing us again...

In summary - I look forward to removing this piece of fuc*ing garbage from my portfolio.

It was delayed and now the new date has also passed. The UK market has closed.

I now downgrade my probability of getting the funding to 30%.

This is not acceptable.

It is unprofessional to delay by a month and then give no further updates when the market has now closed on the last day of the month!!!!! I have no interest in these other bullshi* RNS that have come out that are somehow meant to be useful.

At this point, I am happy with my decision to have already risk-managed this down to a small size which will not cause too much pain.

I think I used to word 'penny stock gamble' earlier this week, which the 'smart money' here disagreed with, but that is exactly what RMM now is. I do not like burning money.

I think I also used the expression 'shareholder destruction' which a few diehards also thought was 'over the top' - clearly you don't care too much about your money!

I am happy to have large positions in *solid* copper plays: Lundin, Capstone, Central Asia Metals, Atalaya, all of which have impeccable balance sheets and solid earnings and who *do what they say*, without constant BS. To have a large position in RMM at this time is a pure gamble for suckers.

No doubt I'll get some abuse here, but let's see how that plays out if the company fails to get the funding.

If it shoots up after funding or FOMO, I have absolutely no intention of adding. There will be a long way to go to actually improve the fundamentals.

@hey_arnold: "I'm sure I will get shouted at like last time, but I think this is only just beginning to play out."

Maybe it does have more to go; Personally, I think this is already great value. It's incredibly cheap compared to any US Growth company (P/E for Amazon=52, Tesla=116).

That's not to say that I'm up to my ti*s in this share. If it drops, I have dry powder to add lots more. I subscribe to Peter Lynch's thinking that most money is lost sitting on the sideline, worried about a crash rather than the crash itself. I think inflation will continue to rise, but there is one thing for sure, freight costs will not stay at this level indefinitely, just like Lumber and lots of other commodities crashed soon after their peaks.

@Porsche only ever appears when there's a price drop and is not that subtle.. he's clearly hoping to benefit from a short position. FYI: I have no problem with short positions in anything.

"Industry wide problem, not specific to Boohoo. I'm back in..."

Precisely. EVERY retail business will have these increased costs...