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Hi Xenor,
I agree.
The important point I take away from today's RNS is that RMM have completed a number of extra steps on their journey to getting the mine fully operational, resilient and profit making. With each step taken the risk to us as shareholders, or to any future shareholder, reduces. Related, although slightly distinct, the risk to a lender reduces. It follows that , provided RMM deliver to plan, that any future palings or loans, will be on better terms.
Page 19 of the Rambler Presentation outlines their 2022 strategy. Last section is as follows:
Later in 2022, when the business is operating at full
production (Q2) and further de-risked, access additional funding for:
? Development
? Exploration
? Projects
Personally that seems sensible.
Best wishes,
Prof
Hi Tony,
Sorry presume I was not clear. Meant AISC is horrible next year (2022) and was referring to thereafter when I wrote 'reasonable' (2023-onwards).
Does that make sense?
Best wishes,
Prof
Dasut,
'When they get back to mining Sukari rather than restructuring Sukari'.
Beautifully put and in my mind the cornerstone of the investment case in CEY.
Yes we know that the previous regime maximised the today at the expense of investment for tomorrow.
Yes we know the current regime is addressing that.
Yes we know it is expensive to do that.
Yes we know CEY are ahead of plan with the restructuring.
Yes we know CEY have aspirations to get back to 500k oz per year.
We know next year will have horrible AISC as a result of the restructure and that if gold falls substantially we will be generating little or no positive cash-flow.
To me the outlook for gold, with inflation where it is, is excellent and I would expect it to move up not down. As such I am another one who will sit here and draw the dividend, keeping my fingers crossed that they can afford to keep it close to current levels, and wait for the restructure to be complete. We should then have a mine with great reserves, a company with no debt and an infrastructure that will enable sustainable mining at c500 oz per year with reasonable AISC.
Hope I am not being too optimistic.
Best wishes to all,
Prof
SJ,
Thanks for your kind words. Particularly appreciated as I greatly rate what you post.
Best wishes,
Prof
There are a lot of posts since the RNS slamming management.
For those who haven't tried it - running a large organisation is difficult and doing a turnaround is harder still. I have no experience of doing so in the mining sector but I suspect it is harder again.
Management are balancing endless variables here with very limited control on a good number of them.
Personally I think that they are doing a good job. Many people have been talking about this multi-bagging so lets pause to ponder that. Why might a share multi bag? Because there is significant risk. Why might you invest - because you think you have a better appreciation of that risk reward than the market. What makes you think that? If it is nothing more than the positive musings of some anonymous posters on a bulletin board then you are going to lose out more often than you luck in.
For my part I think the market is misjudging the risk reward and there is a lot more reward and less risk than is being priced in. When will that valuation turn? Probably very quickly once the key risks disappear. But if I can invest at this price it is because those risks are currently still there.
And I might be getting my assessment of risk reward wrong and the market might be getting it right!
Expecting to be a lot better off by mid year on this share but aware that is not a given and I could be down. That is investing!
Best wishes to all,
Prof
Lucan,
There is not much to say at the moment. Sit tight and wait.
Best wishes,
Prof
1. I agree
2. We buy shares because we think the market has mispriced them. We would of course love to see the market realise the error of its ways the day after we have bought however that is rarely the case. If we feel the market has mispriced why worry that it is a slow learner and takes longer than we might like to adjust to fair value provided it does.
3. The market tends to overshoot on the way up and the way down.
Tharisa,
Once again thank you so much for your proactive approach by posting and responding on this board. I have not seen any other company do it even half as well.
Also love the tone that is factual but not sounding like an accountants briefing.
Keep up the great work please.
Best wishes,
Prof
Hi Siko,
Great to see you pop up here and wonderful to hear of the great work that you and the family are still doing in Egypt. Sorry however to hear of the extent to which it continues to be necessary.
Very best wishes,
Prof
HI Tiverton,
Try SLP rather than SLP.GP.
That is where the chat is.
Best wishes,
Prof
Kintore,
9 posts in a little over 3 years and this your first one on CEY!
You don't post much but that was a very good post. Welcome to the CEY page.
Best wishes,
Prof
Hi Patryk,
From memory most of what they said yesterday about production for the next few years was in line with what they had previously suggested.
The big shocker was the level of AISC next year.
The big positive was the increased reserves.
Best wishes,
Prof
And thank you to everyone else who posted helpful and intelligent posts. With a holding of 200,000 shares I value a wide range of opinions.
Best wishes,
Prof
Production Coates,
That really was a pathetic response. If you think anything other than unadulterated optimism about a share is deramping then I pity the results of your investing. At least one of the purposes of these board is to ask questions so as to educate yourself. Google by the way is not a magic wand. Try posting 'Buy vs Sell' and you will see that it does not come close to answering my question.
Yours, who is unimpressed by your post,
Prof
Interesting that I can get a quote to buy £50k no problem but had to go down to £1k to get a quote to sell.
My basic extrapolation from that is that market makers are sat on too many RMM shares and want to offload before taking more on. Does that sound right to people or is there another explanation?
Thanks,
Prof
Tharisa,
Thank you once again for your proactive monitoring of this BB and for responding where there are questions or incorrect information.
It really is a shame more companies do not do this to help inform posters/ shareholders.
Best wishes,
Prof
Rich,
Dooh - spellcheck strikes again!
Best wishes,
Prof
Rich,
Dooh - spellcheck strikes again!
Best wishes,
Prof
Theresa,
Once again thanks for proactively posting on this BB. Great news.
Best wishes,
Prof