Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Sotolo,
Great insight.
Thanks,
Prof
Hi Sotolo,
I remember you warning me when I was first looking to get into HOC that the low free float meant it jumped around like mad. You have been spot on in that regard, although of late it has been less volatile, until today, and mainly just trending down (like the good ship Centamin).
Best wishes,
Prof
Hi Sotolo,
Wow. You positive on HOC and on CEY. Things must be looking good.
What do I do now for a counter-view to my innate optimism?
How are the plans for house going?
Best wishes,
Prof
Dark Knight,
No idea. FRES equally strange.
Prof
Hi DJ,
Ref HelpMe I think you are making the assumption that everyone is trading in the quantities you do. There was a brief moment first thing when you could get c£100 at close to Friday's close. I have seen this before on shares. Of course if you were trying to get a large amount then it was in auction and reopened c26p.
Will probably buy some more if it drops back below 25p. Was happy to wait for it to be in black and white as have seen far too many times the 'dead cert' fall at the final hurdle.
Anyway it is great to be in that annoying win/win or lose/ lose situation. It goes up my existing significant holding is worth more. It goes down, I increase my holding.
Best wishes on this prosperous morning,
Prof
Hi Monkey,
Think that was me thanking your for posting your views that flew in the opposite direction to most on this board. Still thanking you for doing so, as you outline why you feel the way you do.
Financing has landed, which clearly you were less confident on. I thought it would but, had I not also thought it was a risk , I would have bought a lot more.
Had bought a few more in the low 20s and clearly kicking myself now for not being bought more. But of course easy to do when the share moves up, had it moved down I would have been complimenting myself on not getting carried away.
Have c 200k of these. If can get more at a reasonable price next week will now the the finance uncertainty has gone. But am still grateful for those who post views different to my own so please, Monkey, despite the abuse, keep up posting how you see it.
Best wishes to you and all,
Prof
I would agree that Monkey posts some points in an over-repeated manner.
It is very easy , however, to call shorter/ troll/ ...
In truth I am surprised that he still bothers to post given the abuse he gets.
But if we chase any voice that dissents from our views then we end up with just an echo chamber of our own bullishness
I have been burnt on far too many shares by becoming over enthusiastic and only thinking they could go up. Therefore I welcome the voice that takes a different perspective far more one that echoes own.
I have rather a lot of RMM. In the spirit of full disclosure I am hoping for it to drop a little for me to buy a few more. Will it? I don't know. Ultimately I am up either way. Either my existing shares go up or I get more for even less.
Of course if I get more for less I then need it to go up thereafter however I am confident it will.
But then again I have thought that many a time and got it wrong. And then again, many a time and got it right.
Monkey, I think you are overly pessimistic but please keep posting.
Good luck to all whichever way you see this playing out.
Best wishes,
Prof
It looks like they are leveraging the second of those two criteria given that they are getting them at 16.36. My take is that the fact they are converting is good news as it means they don't expect to get a lower price. The are in effect converting into equity which means they risk losing it unless selling on.
If you look at the RNS of the 30 June it shows the terms for conversion as follows:
The Noteholders have the option to convert the advances into new ordinary shares of the Company at a price ("Conversion Price") which is the lower of:
o a 40% premium to the five-day volume weighted average price ("VWAP") ("Fixed Conversion Price") of ordinary shares of Rambler immediately prior to the drawdown of each advance; and
o the average of the five lowest daily VWAPs of ordinary shares of Rambler during the 20 trading days immediately preceding the date of any conversion notice ("Variable Conversion Price")
London, England, Newfoundland and Labrador, Canada - Rambler Metals and Mining plc (AIM: RMM) ("Rambler" or the "Company"), a copper and gold producer, explorer and developer, announces that it will shortly issue a total of 895,687 ordinary shares of 1 pence each ("Conversion Shares") at a price of 16.3651 pence each in respect of a conversion notice received on 14 October 2021 by Riverfort Global Opportunities PCC Limited ("Riverfort") and YA II PN, Ltd ("YA II") of US$200,000 principal of the unsecured, subordinated convertible note agreement with Riverfort and YAII ("CLN"), further details of which agreement were announced on 30 June and 1 July 2021. Riverfort and YAII have now converted a total of US$1,600,000 principal of the CLN. Following this conversion, a total of US$1,400,000 principal of the CLN remains unconverted.
Really grateful to both those who are posting the positive and the negative of the current situation.
It is up to each of us which factors we apply what weighting and probability to but it is obviously a pre-requisite to be aware of them in order to do that.
Best wishes to all,
Prof
Please don't get me wrong - I am delighted by today's rising even if I am, obviously, kicking myself for not having loaded up at 16.5 p. Then again in investing you only ever have two feelings: why was I so cowardly as to not have bought more when it was low or why was I so greedy to have bought more just because it had dropped when it has now dropped further.
My point however is this. There has been a loan of $1M and the market cap has gone up by £5M i.e. nearly $7M. We could all have put our hand in our pocket for the $1M, given it away to RMM, and still be better off by a factor of 6. Shows how mad AIM valuations can be.
Anyway great news today. Expect we may see a slight fall back over the next few days but the teens are hopefully behind us.
Best wishes to all,
Prof
Trojan,
Thanks for posting. Notwithstanding my extreme scepticism of analyst price targets I do like to see Peel Hunt state a target of 250p which is double what we opened at. Wouldn't it be nice to see that materialise.
Best wishes,
Prof
Hi FTC7,
My take is that it isn't very complicated and certainly not unusual.
RMM are seeking a further loan from party B on top of the loan they already have from party A. The issue is if it all goes to the wall how do the remaining assets get spilt between party A and party B. That will not be clear cut and it is taking longer to agree than anticipated hence the delay.
Could be wrong of course but that is my interpretation.
Best wishes,
Prof
Like Fukurokuju I am glad that they have not given another date. This is for 2 reasons: firstly if they do and miss it there would be further disappointment reflected in the SP as we may see this morning. Secondly if you are negotiating then deadlines on your side but not the other are the enemy of you getting a good deal. I am surprised in fact that any dates were suggested in the first place.
Bagmeakipper,
Look at the Rhodium price chart - not pretty.
Best wishes,
Prof
Sumo, My thought too.
Placing is at 16.03 so price is likely to fall towards that for the near future. Having said that it should provide a solid floor for us, hopefully to rise from.
Best wishes,
Prof
Hi Instant Expert,
Yes this is the event that they had already flagged on 05 Aug at the interims.
Other dates flagged at the time were:
MILESTONES
· 23 September 2021 Geology Capital Markets Event: Our approach to unlocking value from the portfolio
· 30 September 2021 Payment of 2021 Interim Dividend (Ex-div date 2 September)
· 19 October 2021 Q3 2021 Report
· Q4 2021 Sukari Life of Asset (Phase 2) optimisation results
Best wishes,
Prof
Level on HL but if I go into actually deal it is offering about 1p less on both the buy and sell than at close. Not sure whether this is due usual variation (particular after about the same movement the other way on Friday) a misunderstanding of this morning's RNS or a negative reaction to TB's interview on Sunday Roast. Personally I thought the interview was fine, notwithstanding the interviewers some of whom were really not up to it and I would suggest wasting TB's time. Tempted t add some more although holding a fair few already.
Thoughts anyone on this morning's movement?
Best wishes,
Prof
See you on this or some other boards in the future.
All the best to you too Helpme.
Best wishes, Prof