Member Info for G_G_G

Copper now up to $3.44 and we're down 1%. What an absolute mystery. Must be those crooked MMs.

MatesRates, I never said the only driver of our ****ty sp is moving to quarterly reporting. Knowing our costs is clearly an important factor, but we haven't known them for how long now? And has the sp ever retreated to this level? And obviously the major driver is the Cu price, but it's clearly not the only driver, unless you care to explain why the Cu price has been moving up steadily the past 1.5 weeks and yet our sp has moved to, and stayed near, all-time record lows...? Here's another angle, the Cu price only broke through $3.00 in October 2020 (keep in mind we're now at $3.40), has the sp ever been this low? Even with stope collapses, flooding, mine equipment failure, 300tn production months, all combined with a **** ton of dilution...? And here we are in the 17's after an all-time record production month and Cu at $3.44. Maybe think of it another way, do you think the sp will go up or down in 2 weeks if the Cu price remains at this level (in the $3.40's), and they announce +700tn production month for July? It's a pretty easy question, I reckon even you could answer it.

AIM doesn't just move on results, or commodity prices alone. It also moves on trust built by regular good news, which in turn can generate quite a bit of momentum. We have little trust due to years of bad news. And now we have little news on the horizon due to a move to quarterly reporting. Staying at monthlies for the next quarter would mean regular good news building trust and +ve momentum. And for those who say 'what difference does another 2 months make to get the news'? Firstly you're assuming it will be good news - we've been surprised to the downside every single month except June. And often with things that one would rightly consider to be market sensitive information. But the most important reason to always support your sp is it gives an ability to raise cash more easily, which is especially important if you're a junior miner, in a cost inflationary environment, with a history of production issues, and there's a question over the company's cash position. So yeah quarterly reporting is straight up stupid. But of course feel free to respond with some reasoning for our depressed sp, preferably supported by some facts.

Some truly excellent posts Diamond. May I suggest you share their sentiment with RMM. Tim Sandford seems to read them and mostly responds.

Hi guys,

Quick question, what's the Ve price for BMNs basket of products? And what's their b/e price for the same products? Appreciate factual responses as I've always found it difficult to understand the prevailing commodity and b/e prices here - one of the reasons I haven't invested (yet).

'I think monthly reporting is a very bad idea.....it makes the company look like it's in trouble....'
Hahahaha! That's your response. What like 17p trouble? Can't take you seriously LL.

Durin, unfortunately cookie cutter responses is what you get when a company has no counter argument and/or don't care. Neither good. Hopefully TB recognizes the company's history of missed guidance and will change his mind. I think a lot of him, but would respect him a lot more for doing it.

See you all in a couple of months when we get some costing news (maybe), which of course will be useless without an established, reliable pattern of production. Who knows, with the ensuing news black-out maybe Moon will get his 15p.

Email the company if you care about your money folks. I've done my bit.

Blue-square, I own close to 0.75% of this illiquid company. You want to tell me how someone like me can do a 'pump and dump'? I'll most likely have a large holding here far longer than you. I simply want mgt to think of my money as if it was their own. It's hard for them because only TB has close to as much money in the company. But it's easy for them to think that monthly reporting is a pain in the @ss, so why do it if they've delivered 1 MONTH on target in the history of the company. Clearly 'why the decline' answer is clearly going over some people's head. Perhaps best go back to thinking in terms of 'sp goes up, sp goes down'.

Anyway, I'm hoping some of you have emailed the company to tell them why they need another quarter of monthly reporting. I'm now taking a rest until some news is forthcoming, whenever that may be given monthly reporting is no longer. GLA

LL, that's a lot of assumptions being made about IIs investing. Your post does however point to the fact IIs will often see more information than has been shared with PIs, which to my mind is a problem. But what it clearly fails to recognize is that a depressed sp is the worst thing for PIs when a company is talking with an II. We (PIs) effectively own the company at the moment, or at least until an II coughs up a relatively small amount of money for a very large slice of equity if the sp stays down here. Perhaps mgt don't care as they don't have much ownership in the company that pays their wages...? Do you think an II when they're looking into the 'whites of the eyes' of mgt will ask themselves why if the turnaround story is so good? Either way bad for us.

'I don't think monthly reporting will be an issue.......'
Again no logical reasoning. So I'll just put that down as another unsupported opinion.

Xenor, the sp declined almost 10% yesterday when Cu had stabilized (it actually went up marginally). We also saw a sp appreciation before the results, when Cu was dropping. So the sp increased on an interview, and when the record production month was reported it dropped...? So you see the assertion that our +20% decline over 3 days of trading is due to the Cu price isn't supported by factual evidence. I do agree it's had an impact, but the drop in sp after the increase the day before is down to their decision to move to quarterly. Consider this, why a would PI invest in an illiquid company with a long track record of nasty surprises and just 1 month of on-target production, when we're in an unstable Cu environment, and when mgt has said there will be no guaranteed positive news for the next 3 months? And before anyone says 'production costs', that assumes a) they will be positive, and b) we'll receive them in the coming weeks. RMM have promised news 'in weeks' before and delivered months later. We also have no idea how +ve they will be, which is concerning given they're a listed company and clearly had very little grip on costs (or they didn't want to share them because they are diabolical). And the new CFO has been looking at them for how long?

Monthly reporting is regular good news, which reinforces costs assumptions by PROVING a pattern of +650tn production can be achieved. And it will get investor attention, especially if accompanied by PR.

Email the company if you agree. It's your money. Alternatively sit here in a festering Cu environment, and in the dark on what is happening with your money while it potentially declines even further. Hard to believe we're worth £25m with Cu at $3.25 and 650tn monthly production just announced. But that's what happens when mgt without an established track record of delivery decide to treat you like mushrooms for 3.5 months on the back of 1 month of results.

LaurenLouise, you still haven't given a single counter-argument to keeping monthly reporting at this juncture versus quarterly reporting. You also still haven't given a single logical reason for the 20% sp decline, rather than expected 20% gain, from when the change to quarterly reporting was announced (on the back of an all-time monthly record for production). Sp I'd say the most irrelevant thing here is what you have to say.

As for IIs buying in, well that pretty much sums up your thinking. The chances of IIs buying in here are bugger all until they see evidence of sustained production, and associated cost profile. Only issue being evidence of production isn't going to be forthcoming for 3.5 months.

But please, enlighten me on those two things you could never answer.

My last post, but should answer the topics (not mine):

'Who on earth would sell on that rns'
'Poor newsflow'

The answer is one and the same whether people like to admit it or not. Moving to quarterly reporting is why people sold on that rns, as I agree it was very good. And that's down to the fact the 'poor newsflow' is about to get worse thanks to the move to quarterly results. It's why people are leaving, and why no-one will be interested for a while, and why investors like DJ aren't looking in again for a while. All because there's nothing to see here, and the trust issues have hardly been addressed with 1 month of production.

I note the share price is now 19.5p. Incredible how the greatest month of production in the company's history and the sp goes down to near record lows. Even I'm going to put this share in the bottom drawer thanks to mgt deciding to treat us like mushrooms. As I said, they've snatched defeat from the jaws of victory because they don't appreciate that trust won't be rebuilt from one month of 648tn. Not with RMM's history. See you all in however many weeks or months it takes for financials to be released. Based on their track record I'm going with months.

And with all these responses I'm yet to hear a single argument that says why quarterly reporting is a good thing given our history of under-delivery. And why it's good to have questions marks over the company for the next 3 months (because of their history of under-delivery) whilst we go through so much market turbulence.

Toptuf, you mentioned quarterly reporting stops people exiting all the time. Flip it and you'll understand why people have sold - it will stop people entering for a long period of time. Therein lies the problem. No news = No new money.

LaurenLouise, I'm not continually saying this company is under-valued. But TB is saying it. And you're right until we know the financials it's hard to place a value on RMM. Pretty obvious that statement. But those financials have been how long in the making? And in the meantime the market will sit still for 3 months while we await the next production report, which may / may not be good based on a history of disappointment? Monthly figures should be provided until a pattern of delivery is evidenced. And I don't call one month of production still below 650tn as evidence of anything. That's what the market needs in the absence of solid financials. And will probably still need after we get financials so we can estimate value based on a reliable pattern of production. DJ maybe pay attention to this last point - 1 month isn't a pattern so to say they've 'achieved stated aims' is plain false. We have 1 month of production that annualized takes us to 7ktn. That's one month in the history of the company. I also never described anyone / anything as a 'disgrace', mainly because it's a word over-used by people like you.

The thing about monthly reports is about establishing a pattern for investors to build trust in mgt and the company, which doesn't exist because of all the reasons I've mentioned. It's also not for traders. Anyone with any experience in AIM knows that a good / bad quarterly report is more likely to drive a fast rise and fall versus a few months of steady updates and proof of success. Again hard to believe I even need to say this.

Finally, someone said 'what else can management do'?. Well here's a starter for ten:
1. Continue with monthly reporting until evidence of the turnaround is established, meaning a pattern and certainly more than 1 month of production, which was still under 650tn.
2. Financials being delivered finally to the market. These of course would be strengthened by a few more months showing +650tn production as it's the forward looking value estimate that will matter most.
3. Mgt buying shares in the company that pays their wages. Not just TB, but all mgt to demonstrate their faith in the turnaround story.
4. PR.

It's a good result to get 1 month of 650tn based on historical performance. Well done to TB and team. But it clearly doesn't go anywhere near overcoming the trust issues of the market. Hence the sp decline.

Agreed KnowO. But it shouldn't take the nomad, or a listing on the TSX, for them to pull their socks up. It's not like RMM mgt doesn't have a long history of being sloppy on investor updates regarding market sensitive information.

Because it's market sensitive information Ortus. Imagine if every company 'kind of' updated the market via a no-name website interview, and not through official channels. The entire market would turn into a circus. I can't believe this even needs to be said. Unprofessional is the only way to describe it.

As for traders, I don't think there'll be too much of that happening until we get back to the high 20's, which I believe is where most PIs will be break-even, or marginally in profit. The volume that has changed hands below 25p is negligible. And you have PIs like myself who have picked up 400k just to lower their average (mine being 26.5p now), which I think would account for at least half of the buys below 25p. Why wait through all the bull**** for evidence of the turnaround only to sell for a small profit, or a loss. Just wouldn't make sense for the majority of investors unless they really need the money. Get the RNS out Tony!

It's certainly a disappointing way to manage things. If an rns wasn't ready for 7am this morning, there shouldn't have been one on Friday just before close. The interview isn't an official account of production, nd TB could say he was misrepresented, or as one poster has pointed out he could be referring to the first few days of July production. It's simply not good enough, and quite unprofessional imo. They need to do better with such things. And they need to get out there and PR any good news, especially if they're talking about expanding operations (translation = need more money). TB needs to get the turnaround story to the PI market, because we're the ones that drive the sp, and any equity deal under 40p would seriously p!ss PIs off. Hopefully an rns sometime today with confirmation of +670tn having been achieved for June, plus an on-going v.positive outlook.

Thank god we have the bank of moon to fall back on. I was a little worried there for a while.

Nope toptuf, I would say it's grossly unprofessional if it doesn't land in the next hour or so. Reason being is we don't know they're producing around 670tn per month because the information is from a secondary source. Fine to release the secondary source just before close on a Friday, followed by the actual numbers from the company first thing Monday. I called that a shrewd move. But I didn't think for a second the numbers wouldn't be landing before market open.

And yes, it would be straight up misleading for him to state 8ktn in an interview (RNS'd), and not to deliver that run-rate for June, and instead point to it coming from less than 1 week of July production. TB needs to get that rns out now.

Not good enough Xenor and grossly unprofessional. You don't release market sensitive news in an interview and follow it up with an rns about the interview. TB knows the production figures are what matters most, and those numbers should have been in black and white in an rns first thing today. It's also late compared to other months. Unprofessional in my books so they better get that f@cking rns out asap today. I've got money sitting on the sidelines, but like most it won't be going in here until I see the numbers. Not him talking about the numbers in a loose manner. The actual monthly figures. Quarterly numbers and financial figures can come later. I'm literally shaking my head in disbelief they weren't printed at 7am.

Get it together TB!

Fine by me Dalesman. I'll happily pick up more shares at 21p if they're on offer. I may even pick up a few hundred k if it's possible in the low 20's. But I imagine there'll be a lot of people coming out of the blocks quite hard in the morning if the expected news is delivered in black and white. We'll see soon enough I suppose.

I'm going to stick my neck out and say 24-25p by eop tomorrow, which is only +20-25%. It will be such a huge turning point for the company to be announcing a +650tn month that I think a lot of eyeballs are going to be on us. This of course relies on K2 being completely out, which should mean only a handful of small fry flippers selling their 20p average for 24-25p. But even then I think a lot of them will be tempted to hold for longer. If we're below 22p at midday then I'll most certainly be taking another 125k. This reminds me of the turnaround at in my biggest holding at i3e. Except there's no over-hang here anymore, and all other equity raised was at a much higher amount. We did 100% in 2 weeks at the end of October on a loan being approved. This will be the evidence of that loan having been put to work. I think high 20's by the end of next week, and that would still be a bargain. That's only a £45m mcap btw, which is f@cking crazy for a company that has an profitable mine in Canada, and is sitting on a few $bn in high grade Cu resource, which just happens to be the most important commodity for the coming decades.

TB needs to get on the road and start hitting the investor forums. There's a big story to be told here. Can't wait for tomorrow.

'keep saying china going to to war so simple'

'This board is getting like Panorama these days with worldly wise inputs from the political heavyweights'

Gold possetwolf. I personally don't just get my investment advice from Moon. I do also look to him to tell me what's going in the world. The depth of insight is astounding. Forget about Noam Chomsky folks, and tune in to 'Moon at noon'. The man will truly blow your mind.

Wow. It certainly does say we're currently producing at an annualized 8ktn. That means 670tn per month. If this is what we're going to get on Monday then I think we're in for a nice push up next week, regardless of the Cu price. Remember we've just had a 30 day month, so we can add another 22tn for July if we're producing at the same rate. I was on a bl@@dy zoom call the last couple of hours. Had I seen and read this before market close I would have taken some more, like a few opportunistic buyers did in the last 15 minutes of trading.

With copper above $3.50, and June confirmed at +670tn then we're certainly going to hit some radars. If we don't move to the mid 20's immediately after confirming the numbers then I'm going to pick up another 100k on Monday

The fact he talks about how vastly under-valued we happen to be is quite obvious. I also like the fact he has acknowledged past performance, including financial details. I will leave you guys with this:

'This is part of what we have been fixing up this year, since our new CFO came in. But this is going to become a very profitable mine and we are doing this for money. There are no two ways about it. We are just in the process of proving what this asset actually is. It is not just good! It is much better even than people think!'

I think it's best to keep in mind the big re-rate will only occur if we have a run-rate of 7ktn and Cu stays near / above $3.50.

Let's not forget that we've never broken 600tn monthly production, let alone maintained it over an extended period of time. So we need to start making history MoM (month on month) from a production pov. That's the first hurdle, which is in our power to control.

But then there's the big Cu price question. If it drops to $3 it will take most of the 7ktn production benefit in this inflationary environment. I'd suspect our AISC would be at $2.50-$2.75 at 7ktn, which would leave about $5-7.5m for future development and an ore sorter. This would cover our development budget, but not the ore sorter. But if Cu stays around $3.50 we will be more than fine. The ore sorter can be picked up in cash, plus equity / debt. And we'll be very well placed for the Cu bull market producing 10ktn at sub $2.50. Some serious unrest in Peru and Chile would certainly help in the near-term that's for sure. Fingers crossed for Monday!