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This statement is very relevant in current circumstances, remember the CEO is well respected and RMM has had very supportive investor/funders historically, the share price at the time was around 12p

Toby Bradbury, President and CEO, Rambler Metals & Mining commented:-------

'In the context of the resource base that Rambler holds, the valuation of the Company, even including its current debt position, is exceedingly low.

The operations are proving themselves and future production is at less risk than it has ever been. Over and above this, there is strong exploration potential with 3 new mineralized zones discovered just this year'

Kutzz

Iamgold have to spend $4m by February 2024 so they have to get a move on, my view is ORR are preparing a funding round right now, there is more evidence here in today's Shard coverage.

https://www.investegate.co.uk/oriole-resources-plc--orr-/rns/shard-capital-analyst-coverage/202209301115073654B/

Maybe if the funding issue is resolved it might entice buyers back as surely the placing price would represent some form of floor.

It can only be a matter of weeks before investors know of their forward funding intentions, historically the CFO has preferred to keep a minimum cash balance around current levels (£300k) something has to give.

Another option, a share consolidation (now 2.2b shares in issue) say a 1 for 10 would reduce the count down to 220m shares issued taking the mid-price to 1.7p, within the consolidation they could then 'hide' a placing, if this happens it is a slam dunk kick in the butt for existing shareholders but it would show the true colours of the BOD.

Unfortunately, current market conditions are not the best for asset sales, it seems likely a placing is in the wings therefore, the only other option they have is to mothball the projects citing market conditions and go into a care and maintenance mode.

It is infuriating the CEO, when interviewed, never gets the question about funding, the only interview that hit the spot was Crux and Livesey stumbled and stuttered suggesting asset sales and cost cutting, well two years later those asset sales never happened.

All will be revealed shortly no doubt.

Have taken a quick look at the Interim Statement, cash and receivables were around £490k but invoices to be paid were £330k as of 30th June - you can see why they had to raise £300k on the 29th of June, therefore.

The cash fuel tank is running on low right now with G&A costs of circa £50k a month, they probably have £300k left in the bank.

Clearly there is a need for funding, as mentioned it has to come from an asset sale or, dare I say, a hideously dilutive placing.

The BOD seems blinkered to market conditions to want to carry on regardless, problem is if they do not spend on the CLP in Cameroon there is risk of losing the licences in due course, until clarity on meaningful funding is clear the shares will linger in the doldrums IMO.

5 directors taking out close to £450k pa - the company has zero revenue, is it a lifestyle situation, some may say so.

I did not realise how strong the chart support of .35p was until I checked historic charts on IG, it goes back to 2017 apart from a very short period in early 2020.

The plain fact is timing your entry point is crucial on AIM, I think buyers now will be rewarded more-so if RRR ever do get even one of their 3 main value events across the line, in reality all three are not in Andrew Bells hands, as POW are involved at New Ballarat, the Congo money is subject to arbitration and Elephant Oil is a third-party event.

I took a few more yesterday.

djRyan 777 has posted 109 times on RMM in the last 30 days, now negative and spamming this BB, but look at the post below a few months back, the grammar is diabolical, you see DJ posts according to DJ's position, does DJ give a fig about holders, not on your nelly.

It costs to be stupid the more stupid you are the more it costs DJ

DJ posted this in June...

'Moon if you think its going to lose money then do one , stop annoying this chat board with absolute drivel with no actual research.

Their is no way an asset like this that has had its entire market cap spent on it in the last Two years more or less and is fully developed heading for a full production profile should be valued as bust.

Copper projects take 10-20 years to come to fruition and have at least 200 million spent on them to get to where we are.

The valuation rambler has is madness etc , it has this valuation because it has never been at full production'

I see the doom and gloom merchants are out in force, of course they are, they are either city spivs trying to scare folk out of their shares or they have sold and are trying to justify their actions.

This statement is very relevant in current circumstances, remember the CEO is well respected and RMM has historically had very supportive investor/funders....

Toby Bradbury, President and CEO, Rambler Metals & Mining commented :-------

In the context of the resource base that Rambler holds, the valuation of the Company, even including its current debt position, is exceedingly low.

The operations are proving themselves and future production is at less risk than it has ever been. Over and above this, there is strong exploration potential with 3 new mineralized zones discovered just this year.

Well for my sins I added at .38p on Friday, the bid hit .65p last month, there seems to be very strong chart support around .35p.

I would never bet the ranch on these juniors but as suggested timing one's entry point is key, the market is woeful but how much of the downturn is already factored into the price of junior stocks.

I was reading some research suggesting that during recessions the market actually starts to slowly recover (it's a forward indicator of course) so who knows, what I do know is junior exploration companies have been in downtrend since Q1 2021, Rick Rule of Sprott suggested he has never seen sector juniors so undervalued.

I will not comment about Bell except for saying my view is he honestly does not give a fig about his retail shareholders, that said it only takes one value event for RRR to prosper and reward, at current levels the price is a no brainer IMO.

I do wonder if the recent volume spike was created to allow a fund raise, worth noting they raised significant cash in September last year and October the year before.

ORR have a drilling campaign in Cameroon to fund, they need at least £1m (the aforementioned raises were for £1.75m and £1.5m) it is simple as this, they either sell an asset or they have to dilute shareholders at penal rates.

The clock is ticking down.

Following on from yesterday's post I noticed that the share price has been driven down from 0.020p to the current 0.0095p on hideously low volume.

In 2 months only 14% of the issued capital has been traded, barely £130,000 of value, or around 800m shares, it seems to me that it would only take modest volume, or a decent update and the share price could propel very quickly, potentially back to 0.0020p or even 0.0030p which is where the bid was on the 18th July.

Looking at the CEO's LinkedIn profile he has excellent credentials and reputation, surely he would not want to tarnish that by taking TOOP into a dark hole so soon after his CEO appointment.

Has the market price TOOP wrongly one wonders ?

DYOR etc

If there really is a HNW investor taking the 40m shares he/she will have to declare via a TR1 as it is over 3%, that TR1 should come quickly as soon as the shares are issued.

Not sure what to make of it actually, could be viewed as positive because no way will anyone be able to sell 40m in a hurry unless there is a significant and meaningful value event.

It really is about time something material happened here, Bell has been huffing and puffing tales of riches all year but so far

No Elephant Oil listing
No cash from the Congo
No listing of New Ballarat Gold
No JV or deal in Kenya

Will any of these happen by year end one wonders.

The silence from the BOD is almost negligent given the fall in the market value of the company, at current levels TOOP is valued at only £480k verses the £2.5m reached in April and the £1.5m back in July.

The damage seemed to be done by the suggestion they would delist from the Main Market and join the liquidity dry market known as AQSE, the 'deadline' implied has been missed by nearly 1 month.

2 months ago the CEO posted this on his Linkedin profile, hardly a requisite of a dying company is it .....

'As DMSL - The business telecoms experts and Toople.com continue to win a lot of new customers we are looking to expand our sales support team. Please apply directly to Izzy M or myself if you have the pre-requisite skills, attitude and aptitude'

AIM has history of companies whose share prices are in the gutter but then can rise 200%/300% in a day or two, unless affairs at TOOP are terminal then this may be one to watch, the proposition is approaching a binary one.

Some update must be due shortly.

Hannam broker note offers a year end TP of 82p, tweeted by Condor on the 16th

https://twitter.com/CondorGoldplc/status/1571931653102080001?s=20&t=PcXR3eEy-7KzYg8GG4wv7Q

I have added over recent sessions, do not post much on this thread but there has been a marked improvement in operational activity since the new CEO joined the company.

The market has been dire in the junior resource space over the last 18 months, this has to turn at some point, AYM stock is illiquid at the best of times so anyone wanting in needs to enter during quiet times, modest volume moves the share price disproportionally.

I see an extensive period of news-flow ahead across all of the project suite.

In a nutshell the company is material undervalued.

Very positive interview concerning the projects in Cameroon but no mention of funding, they are increasing their licence footprint in country with new applications, confirm they will be operationally active again shortly.

Question that has to be asked, but not answered, in numerous interviews, where is the money coming from?

https://youtu.be/Joa89HH1tYg

Some very good results today but the market will (unfortunately) continue to focus on the cash position and how Oriole are expected to fund the next drilling programme without material dilution to equity holders.

As per my earlier post at the end of H1 last year (June) they had nearly £900k of cash but felt in necessary to raise a further £1.75m via placement to fund the drilling programme in Cameroon - one suspects the cash position at end H1 this year will be lower - until such a time there is some clarity on forward funding then the looming prospect of a 15%-20% discounted placing cannot be ruled out.

They urgently need to complete a meaningful asset sale; they have been trying for 3 years now and nothing has materialised, the other option is to bring in a JV partner, recent interviews have suggested they feel it is too early however.

The market has been woeful for this sector and particularly hard on cash stressed outfits.

For balance I repost this, I have been investing (successfully) in the mining space for around 30 years, are RMM a basket case, not at all, remember it costs to be stupid, the more stupid you are the more it costs !

It strikes me the relatively new CFO has placed a firm hand on the tiller and as such RMM, once they sort short term finance, will be in a far better place, new financial systems are now operative which gives management a weekly handle on events.

I very much doubt they will want to raise via equity at current levels to protect the shareholder base, Bradbury himself has around 1m shares bought around 25p, equates to £250,000.

One suspects previous RMM backers may be prepared to adjust their loans and could even be prepared to provide new finance, a recent example was Blackrock who, even as W Resources declared their operational performance was woeful and losing swathes of cash, offered a further $5.5m taking W debt to an amazing $80m.

You see existing financiers often prefer to support than withdraw, in the case of RMM their operational performance has significantly improved, this is a very important positive.

I think the share price fall is overdone therefore, will be a buyer on Monday around current levels, more-so as the copper price fall can only be a blip as demand continues to outstrip supply and forecasts this will further deteriorate.

DYOR

It strikes me the relatively new CFO has placed a firm hand on the tiller and as such RMM, once they sort short term finance, will be in a far better place, new financial systems are now operative which gives management a weekly handle on events.

I very much doubt they will want to raise via equity at current levels to protect the shareholder base, Bradbury himself has around 1m shares bought around 25p, equates to £250,000.

One suspects previous RMM backers may be prepared to adjust their loans and could even be prepared to provide new finance, a recent example was Blackrock who, even as W Resources declared their operational performance was woeful and losing swathes of cash, offered a further $5.5m taking W debt to an amazing $80m.

You see existing financiers often prefer to support than withdraw, in the case of RMM their operational performance has significantly improved, this is a very important positive.

I think the share price fall is overdone therefore, will be a buyer on Monday around current levels, more-so as the copper price fall can only be a blip as demand continues to outstrip supply and forecasts this will further deteriorate.

DYOR

Have been checking the financial statements, at the interim stage last year (end June) they had a net £870k in the bank but felt compelled to raise another £1.75m in September, they stated the use of funds was for drilling/exploration in Cameroon & general corporate overheads.

Following the cash raise they received a further £403k in April but then raised a another £340k in June.

Adding all the above up the cash inflows over the period was close to £3.2m, it will be interesting to see what the cash balance was end June 2022, my bet is it will be around £500k, so history suggests they need more cash, a significant number, to pursue a full exploration season in Cameroon over the next 6 months.

For a junior to burn through such large sums of cash in current markets is simply not sustainable, in my view they urgently need a JV partner for Cameroon or a major asset sale, I fear the market has sussed the situation, until the BOD demonstrates they have ability to secure partnerships and/or deliver a meaningful corporate event the market will continue to de-rate value.

Over to the BOD.

The interim results are due at any time (last year announced 25th August) they should give some idea to the current cash position, the G&A burn appears to be £50k a month with BOD salaries accounting for around £35k a month of that.

Looking at the market placing discounts appear to be running in a range of 15%-20%, both UFO and WSBN ('popular' stocks) have raised recently around the aforementioned discounts.

I suspect ORR will need to raise circa £750k to get the next drilling programme financed, can they deliver an asset sale or will shareholders have to face another discounted placing.

No sign of the market turnaround as of yet.