Why are some here showing so much panic?19 Aug 2021 17:46
From what I have read on here, I am now the biggest or second biggest holder of RMM from the regular posters. I am holding a significant paper loss.
I have no issue with people shorting and deramping to make their profits but I invest and go heavy where I see opportunities for significant price increases.
The SP may well fall more - but in all seriousness, it seriously cant fall much lower ! So if people are looking for an in then they must be moving in soon.
There has clearly been a major issue with the cash management of RMM and the CFO & CEO have to take that responsibility - I called TB out on that during yesterday GM and followed the meeting up with an email reiterating my displeasure that TB hadnt been sufficiently involved in that essential part of the business.
Is TB the right person to manage the mine when we are fully up and running? I would suggest NO.
Is TB the right person to get the Mine working to world class and extract the true value, inc further opportunities at lower levels and adjoining land - I would say YES
Does TB have sufficient clout to ensure cash can be raised if required for major projects? - Again I say yes as has been shown recently
The Market Capital today is probably what we could sell Little Deer for ! Think about that for a moment.
I am hugely disappointed (and made my feeling known - again by email chains) about the lack of RNS for the March fall in ground and the poor RNS wording subsequently.
Yesterdays RNS was one that many of us feared (but I didnt expect) would happen, and increased my disappointment over what I see RMM did to cause the SP drop to such a level.
BUT, we are where we are and we can only manage the future and not the past.
What do I believe I know now?
Well, I know WestFace were very happy to take a lot of shares at a price that all of us can buy now - these have no special conditions allowing some form of ratchet or further options etc - they are the exact shares we can all buy now - in fact I bought a load earlier cheaper than WestFace!
TB told us yesterday that Ming had been severely derisked - we know there are 2 stopes operational and they say they still expect to achieve 6 by end of year and they still expect to clear the hedge and achieve 1350tpd
Now all the excitement of the past 6 months has come and gone
So, taking all I know today, and all the negatives around their ability to forecast accurately and what they have done to the mine, the ore sorter likely to be up and running sooner, the tailings clearly finished sooner than expected and having "binding term sheet" with "customary conditions" for the new loans, I am still very excited.
I also know that yesterdays share issue was cheaper than the creditcard.
Anyway, in summary of my ramblings above, asset stripping here would give us ALL a good profit - achieving what we want to achieve in next 6 mths will give us all bags from this silly low price.
I have added approx gbp 70k t
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