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Bradbury buys 50/- RMM @23.4p
Should bring the cost of the ore sorter down nicely !
It’s the FCA that regulate the markets and it’s the LSE that provides the venue. You may recall Piers Morgan dealing ahead of his financial journos publishing stock market tips back in the dot com boom. The terminology of front running can be applied to dealing ahead of an order, a research piece or a news item. Essentially all inside information and illegal. I’m sure you’re too young to recall a certain “integrity Ted the city ed “ ….he’d turn up at the Stock Exchange on account day to collect his brown envelopes.
Oil tap …sorry but incorrect. Investopedia don’t make the rules but provide a very basic guide for investors
It’s called front running and illegal …although rules are fairly nonexistent for journalists
With a few days until New Year, It’s the season for Dodgy financial journos to buy stocks ahead of tipping them. Might be the case here ?
Good to see two institutional investors joining the register. Clearly they’ve done their due diligence and it’ll be interesting to see if they’ll be adding in the market.
Not interest bearing ?
The loan bears interest at the rate of 8.0% plus the greater of: (i) US Dollar 3 month LIBOR; and (ii) 1.75% per annum, payable monthly
You appear to be confused as the convertible isn’t interest bearing and that’s only $2m with the company stating :
Even though the convertible note facility allows for an additional US$28 million following the first drawdown of US$2 million, management intends to keep the US$28 million room as contingency only.
You need to read the announcements more throughly and objectively
With all respect to Shard Capital & WH Ireland, the company has outgrown their advisers and they now need to appoint a ‘proper’ broker with decent institutional business. Peel Hunt and Berenberg would appear to fit the bill. Our company is being held back by not being exposed to a larger audience. Time to move on !
Updated reserves and the below appears to suggest a larger resource
RESOURCE SUMMARY
-- The updated resource estimate includes 24.143 million tonnes of Measured and Indicated Resources grading 1.69% copper and 0.32 grammes per tonne ("g/t") gold, containing 900 million pounds (408,199 tonnes) of copper and 251 thousand ounces of gold at 1% copper cut-off. This represents a 6% increase in contained copper and 5% increase in contained gold relative to the previous resource estimate declared in 2017, after mining depletion.
6% more copper & 5% more gold it suggests
There’s been plenty posted this weekend on equity based issuance or asset based loans as providing RMM with the necessary funds to complete the turnaround of the Ming mine. Given the pricing strength for many industrial & battery material metals we should be considering selling a 1.5-2% royalty over our 3 mining resources. With WPM & FNV actively looking in this space and with APF looking for further battery metal royalties I feel the royalty model would best serve our short term funding needs without diluting shareholders furthers. Royalty businesses are fantastic business models and provide a very worthwhile option to junior miners and explorers. Hopefully TB’s phone has been busy over the weekend.
Wouldn’t be surprised to see a royalty deal signed on Ming and potentially we’ll see a JV on Little Deer & Whalesback mines. This would provide more financial clarity. Production and mine improvements slightly delayed which is proving to be a larger drain on capital but overall I feel today’s news has more good than bad and I’ll buy any dip today. At £55m this still sits way below it’s true value. GLA
https://www.mining.com/web/worlds-biggest-copper-industry-nears-giant-chile-tax-hike/
Great news for copper prices and mines in Canada etc
CHILE CHAMBER OF DEPUTIES APPROVES ROYALTY BILL TO HIKE TAXES ON COPPER AND LITHIUM MINERS, LEGISLATION MOVES TO SENATE. Some opposition lawmakers have said the new system would replace an existing tax, meaning the total burden would be more like 50%.
Jaffy
Ahead of the last Mifid implementation I did sit on a committee to discuss more disclosure from MM’s and it concluded that an increased level of disclosure would or could lead to increased volatility, lesser liquidity and essentially it would increase the likelihood of RSP machines being shut down more often throughout the trading day. None of which would benefit private investors
Sadly it’s generated automatically by LSE and MM’s have not obligation to print if it’s a buy or sell. LSE assume it’s useful information when in fact it leads to confusion.
Scorchio, the buy /sell function is nothing to do with the MM’s it’s purely a function that classifies trades either side of the mid quote and this information is used by LSE. I bought shares late yesterday at .56 and this was also shown as a sell. If the price is 53-55 and you buy stock at 53.9 it will be shown as a sell despite the fact the you bought stock. The whole buy/sell function is essentially based on guess work not fact and I wouldn’t pay any attention to it. I’m always delighted to buy stock the wrong side of middle and don’t give a monkeys if LSE want to assume it’s a sell. Too many investors get upset that buys are shown as sells but in the bigger scheme it’s of no consequence and it’s certainly not MM’s trying to mislead the market ( whilst you didn’t make this point, many have suggested this in the past) GLA
I met dozens of financial journalists during my career and they mostly had a few things in common. Firstly the female journo’s wanted to become fashion writers (very hard to achieve) and secondly the vast majority shared an uncanny ability not to understand financial markets or the have the slightest interest in the subject. Hence the dribble written on Rambler ......
Good to see SP at 143p ....hopefully it holds above 140p