Member Info for Fukurokuju79

I've always been of the view we need to drill the B conductors ourselves. Too early to JV IMO and so I do believe any effort in such is premature. Not worthless but not well timed.

KCB IMO is progressing well, just need to crack on with the final decisions and then drill as soon as practicable. Which I believe they are doing.

Stan - Not sure how you can say nothing has been progressed tbh. Won't get into a debate as it won't get anyone anywhere and you're welcome too your view etc. I personally think Ben's doing a good job overall tbh. Perhaps I'd not have taken some of the same strategic decisions but I'm of the view trying to oust him isn't in anyone's interests and is not deserved.

Atb everyone.

Hi,
Hope you're all well. I held here some time back and always keep an eye in for a re entry.
Im just looking through to see any RNS on feasibility study due q2.l from the RNS...

'The Empire Mine Oxide Open Pit feasibility study remains on schedule for completion in early Q2 2022 and will include an update of the resources'

Have I missed this somewhere. Can anyone confirm the status of this. I've seen reference to the study using $3.60 copper price but I'm interested to see the AISC of production etc.

Thanks in advance if anyone can share a link or info

Regards

No probs MH.
Without dissecting it again (as it is clear as mud) i believe the general vibe of today's RNS in a nutshell is....

RMM can't support its operational costs alongside the current structure of the debt so need to refinance to.
a) reduce the debt payments by making the debt over a longer period & perhaps use part equity
b) to use some of the debt capital to implement some improvements they've identified to reduce the costs of production
c) to shore up the balance sheet while progressing the above improvements in order to be more resilient against copper price volatility
d) potentially to catch up on payments on accounts to suppliers

Its certainly not an insurmountable situation but it's definitely precarious.
The critical path activity to returns here IMO are firstly RMM being able to secure a 'restructured' debt arrangement, them being able to reduce production/opex costs and them not having to raise significantly via placement of shares. They need to be cash generative which will require either a sustained higher copper price or a significant cost efficiency before any balance sheet uplift from the the debt is used up.

Atb everyone

Metalhead
A few thoughts from me. I agree with a fair number of your points and interpretations but here are some extracts from your post and my thoughts underneath. (Just my thoughts and open to alternatives)..

Extract 1:
reduction of current operational accounts payable balances back to current terms [I’VE READ THIS PASSAGE 20 TIMES AND STILL CAN’T WORK OUT WHAT IT MEANS];

My thoughts: when I read this I interpret it to perhaps suggest they are behind on payments on accounts e.g. with suppliers...(operational accounts back to current terms).

Extract 2:
rescheduling the repayment of longer term debt to better match Rambler's operational cash flow generation [IS THIS A REFERENCE TO NEWGEN AND DOES IT IMPLY NO ACCELERATION OF THE NEWGEN DEBT? (COMPARE ABOVE)]

My thoughts:
Two things I think it could be
a) either 'reschedule' is to be taken at face value and it IS to do with NewGen i.e. they accelerate the existing debt by reorganising longer terms on a larger debt with NewGen and accelerate payback of the current arrangement...or
b) they are just saying any new debt (loan) will aim to be on more manageable longer term repayments that are more sustainable (but may not be with NewGen). It may just be bad use of the phrase 'reschedule'...

Extract 3:
The capital to be sought is intended to consolidate the Company's operational gains and commence the process of strengthening the balance sheet in a more permanent way [THE FIRST FINANCING ANNOUNCED WILL JUST BE THE START?].

My thoughts: I read this as the opposite. They are saying that the new arrangements will be a strategic longer term fix (by strengthening the balance sheet and making repayments more manageable)...rather than being the start. They are saying they need to do this to fix it longer term to avoid more capital requirements (obv subject to copper price/profit)

I agree metalhead. My view is probably they won't until it's done also. Obviously if it's not sorted before the financials are issued over the next few weeks.
If they intended to announce it they would have today. They'll wait until either the financials and/or confirmation.
Like I say there is an investment case here for all possible decisions. Whatever decision anyone makes needs to suit their own approaches and appetites.
Only thing I suggest is to make those decisions from a place of objectivity, rather than emotion or based on other posters (myself included).
Days like this people can see through the genine posters and those that aren't.
These boards of full of all sorts. They can be a good source of reflection and aid research and unbias thinking if used the right way. They can also be very damaging and egofests.

Atb

Shouldn't chew the cud on this all weekend tbh. Nothing to be gained.

Could the company go insolvent - of course, theoretically, yes. However they have assets to back against and they are listed so can raise that way also.

RMM still has the asset, the jurisdiction is great and operationally they've improved significantly. That said we can infer that they have high production costs and are reliant on a strong copper price. So they are wanting to improve balance sheet as they are vulnerable.

Their is still an investment case to hold or buy rambler but this is an individual decision that each investor must make alone. It's not a stock to throw the sink at, and it's one that each investor must buy into with eyes open on the downside risk. The potential returns are still (potentially) solid.
However the uncertainty around the amount needed, any share issuance and the status with current creditors is significant. Without this no one can realistically put a target price on their investment.

For me the market and I need to see financials and to understand in more detail the proposed finance plan/requirement/costs.
Then as an investor I can assess if the upside potential is worth the risk.

The BOD can not expect to retain or attract investors with poor communication and poor financial awareness.

Their is a case to sell, hold and buy. But it needs to be ones own case.

Can ffs

It can't guide entries and exits I meant.

GTTMUFO charts don't give insight like that I'm afraid. It can't guide entries and exit points and is sentiment based, charts are no crystal balls.

Investors have these choices; sell all, sell part, hold all, or add.

The question to act is only one that can be made based on the investment style and risk appetite of each person.

The question everyone should to decide on which of the above options to take is simply to answer the question based on what you know today (ignoring all the emotion) would you invest in rambler and how much.
That should be the only guide to what we each individually decide.

If I'm honest as I'm a high risk /return investor I probably would but only a smallish sum and I'd look to assess and potentially build a position as and when rambler confirm their plan/debt to equity split etc.

RMM have a great asset, and a great jurisdiction. I believe strongly in copper as a commodity over time. The risk ATM is the uncertainty over the amount needed (albeit it will be significant) and if RMM can secure this amount.

I personally think I will likely derisk my position as i can always buy back even if it is higher. We must all make our own decisions.

Right must dash. Things to do.

Atb

Yes.
Find a discovery.
Atb ;)

Lol, Peggy.
AA haven't just rocked up out the blue.
I'm going to give you some merit here and assume you know the history of the assets arc have. Actually the fact I've given you that merit of knowing something about the assets makes your point about AA even more amazing but hey.
Furthermore AA have been here at the deal table a couple years now, surely you can see that this demonstrates intent and enthusiasm precisely for ARCs licenses?
Oh and if that's not enough you've actually seen the size and scale of this deal? It's the best I've seen in ages, or ever from memory for this stage..
So in a nutshell AA haven't been at the table for 2 years, with their background on these licences, and offered this kind of a deal and capex commitments without some serious desire or expectations.
But that's why I'm here and what I expect to see in due course is why I first invested and why I'm still invested..starting with the finalisation of this deal.

Atb everyone

Honestly I'm not convinced their is a true relationship between reporting frequency and share price decline or recovery.

While I accept news does drive volume and their is an argument for and against monthly Vs quarterly reporting. It's the content of news that's king.

I'm not saying your observations are not true, it's just that correlation doesn't imply causation.

I'm personally confident RMM is a solid investment and undervalued but await the confirmatory news, progress and market sentiment over time.

Atb

Mindea have a strategic relationship and the capability so if imagine if they have the capacity they'll be the drillers.

Good RNS today.. again.
Atb

Some 'contributors' arent worth it MH.
I'd don't use the filters to remove people with a different view, but I do use them for those with pointless views. Cox was one of them.
MM remains a significant shareholder and I'm not sure he would be stepping down (and losing his board influence) if he was unhappy is my view.
Sometimes being an insider isn't ideal either. If he ever wanted to realise some of this capital here and was unable to during closed periods etc.
Always two sides to the coin so to speak.
Im on the side of the coin that patience will pay off at KAV. I'm hopping BT doesn't rush a JV and makes sure it's decent terms is one of my concerns but the assets are world class in their potential. That's what drove me here and what will keep me here until further down the exploration curve.

Atb

Clueless when you say...

..'Does this mean we are now producing 27t of copper per day? ie 2% of 1350.
If so that means we are now producing over 800t pcm'..

Yes that's right if the grade is at 2% and 1350tpd would be 27tpd which extrapolated over 30days per month would be over 800t (about 810 tons).
The RNS is suggests all is on track and going well.

The only things I would say about the 800 tons (beyond the two metrics you've used) is it assumes no downtime and hasn't included a factor against the recoverable %.
So assuming 1350@2%@96% recoverable, over 30 full days it would be 777.6t pcm.

In any event the key thing as has been said is the production appears to be on track if not improving and the grades in the RNS today are outstanding.

Copper in the main is much much lower grade than the results we're getting on our in production asset. As others have said RMM wasn't (for me) a quick win and was an investment based on confidence in a turnaround. Obviously the global markets aren't favourable but when the tide turns, and with copper demand / supply constraints, RMM is in an ideal spot to benefit as a producer or from M&A which is inevitable in this space in the coming months / years.

All we can do is await the costs, financials and production confirmations etc. As it stands happy to be invested here.
Atb

Yep all looking good here. In time this will provide strong returns IMO...
Those grades are exceptional. Already producing. Infrastructure. Buyer and port. Great jurisdiction.
Undervalued by a way here.
It's why I invested and stayed. Market will correct. Itself in time.

I too was in pxc and will buy back their in time when other positions perform in this market.
Does seem very low their.
Think I'm down about 20% here. Not massively down here. I bought in before the rise to 60p and held.
19p won't get much better than that though. Well done.

Sorry been busy travelcard.
Oh and no I won't list prepare a list to try and probe anything to you. As one I don't need to send two the AA deal is achievement enough for me.
Can you tell me if a similar deal with anyone else of ARCM size and status.
GGP was very similar but less attractive tbh.
I've not seen many of any other companies with such a deal but each to their own.
Have a good evening.
Atb

Travelcard.....nothing of note lol. Best laugh of the year

Yes, their does seem to be news due in that regard Matt. Since the one in 1st July.

You may well be right about the additional good news Seis.