Member Info for LaurenLouise2

Publican....the benefit of the forward sales position contract is for lenders.....not for RMM..

The forward sale position is a contract....it can be sold, traded, re-assigned....
What can one do with a hedge?

Er ....no...publican.... it's not a hedge....
It's a contact to deliver product...

A forward sales position is not a hedge...
It's a sales contact between two parties , with one agreeing to deliver product at a certain time ,of a given quantity,at an agreed price and the other party agreeing to buy it...
It has the effect of fixing the price, but it's not a hedge...
You buy a new car for delivery in six months , fixes the price but it's not a hedge..
A forward sales position is paid at the end of the contract.....we don't know when that is..
There is risk that one party may not deliver and one party may not pay....this applies to any contract
Why bother?.....because this gives an existing lender more security when negotiating re-financing terms..

They've forward sold 11% of next year's production for $8330 per tonne.( approx $3.8 per lb)...
This gets them $ 6.2 m cash...
Suggests a t/o of 60m ...
5m per month....
We've got cost savings of 1m per month...
If we could make 500k per month then 6m per year , that would give a mcap of 50 m....so a share price of 25p...

Your takeaway has been delivered ?

Very good RNs this am....
This is the good news, before the fund raising to come....

Twenty redundancies.....part of conditions for refinancing...
Saves $ 1m per anum....

VisciousHippo....thankyou..
I think until any court order is granted ,then the company viable..
I suspect that with arguement and counter that it will take more than a few weeks...
Still all to play for....

Aubrey, you'll have to read rns 21st October.....
My point was , what is the resolution process in the loan agreement for default...
And more importantly , is there a timescale?

Aubrey......we are generating a cash margin..
Unfortunately this is not sufficient to repay loans..

The mine is financially viable excluding loan repayments...
The mine continues to operate as normal...
We are in default of our Newgen loan agreement,due to not paying interest and repayment...
What does the loan agreement say concerning default?...
Is there a default process ?
Is there a remedy process?
And is there a timescale for remedy?

If a company is bankrupt then it is illegal to continue trading.....
The directors then need to appoint liquidators...
The liquidators would then sell the assets and payout in order of priority......
I'm not sure that RMM is at that stage yet....

Please explain why we need to raise $20m?...
You know that we don't.... don't you!

We don't have to repay the whole amount......just the first payment..
Factor that into our cash flow forecast and you have the placing numbers...
Doesn't need shareholder approval.....this is AIM

I feel that a placing is coming....
The board knows the amounts of capital repayments to Newgen are due, and when...
They have a cash flow forecast...
I'm sure they've worked out how many shares to place at 3p....

RNs will say..... we're over the moon that we've sorted the debt....

Andre01...... Israel is a legal ,sovereign country..
Moreover, it is one of a group of countries that guarantees your way of life...
Grow up...

Hi Aubrey...
It makes the mine a good proposition...with the funds an aquirer would have or the funds we may have.,.
They know how much it costs to dig out....they know how much their is...they know they can refine and improve production with a sorter...they know that they can increase production threefold...they know how much this will cost...
An easy and believable business case...

Yes I do.....
Because it shows that copper can be dug out of the ground at Ming , profitably.....