Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Last communication on the website:
"Once a successful bidder is selected pursuant to the SISP, a further communication will be made to stakeholders"
These assclowns just can't help themselves, can they? Diabolical lying scum to the very end.
All this woulda-coulda-shoulda talk reminds me of the 'Old man yells at cloud' from The Simpsons.
https://knowyourmeme.com/memes/old-man-yells-at-cloud
If they were in an ISA, that's what happened. It's (unfortunately) standard practice. I have the same.
If you check the original timelines:
https://www.ramblermines.com/storage/press-releases/rambler---sisp-extensions---05-30-2023-1685533504.pdf
Selection of successful bidder was 7 days after the deadline, definitive documentation took another week.
The original Phase 3 deadline was Jul 21, then delayed by 10 days. Original Definitive Documentation deadline was Aug 4. Delayed by 10 days is Aug 14. So, hopefully news tomorrow or Monday-Tuesday.
Sorry below meant to say removed Rambler from Plinian Capital website, not Mandalay Resources.
If it is on the cards, doubt Bradfart Mills will be part of it. Removed Rambler assets from Mandalay Resources website. And if someone wants to come in and is successful here, why would they share that success with the parasitic clowns who ran it into the ground in the first place?
So in this context, a JV would have to be a joint bid?
And think it's totally normal to have the delay on the announcement here. Jul 31 was never meant to be the date of next news. It's merely the bid deadline, they probably now need time to go over the details. So update next week, maybe by Aug 11. That then gives them a full month to conclude the SISP on Sept 11, as re-iterated in last announcement.
In March this year, there was a confirmed sale for $35M of the Kun Manie copper sulphide asset in a very remote part of Russia (google and have a laugh at how remote). The buyer was Russian (so can be ascertained got for cheap, as the process wasn't exactly internationally competitive). It is just a prospect with just a completed feasibility study. No power infrastructure, not even road infrastructure, not to mention mining infrastructure and equipment.
You would be deranged to think that an asset like one in Rambler's possession would go for 35-50 million, not to mention the debt. That would be criminal.
You already know the worst outcome is nothing. What bad outcome are you expecting? Double nothing?
There are probably several factors that can make this true.
Bigger companies will have better quality and more cost-effective partnerships with vendors/contractors (should they be required). A lot of internal expertise and quality control -> less risk and associated costs from negative consequences. Larger pool of equipment. Efficiencies from economies of scale. Political/trade connections.
By the time they get up and running, we will possibly be in a more favourable macro environment as well.
I also interpreted the deadline extension is more a positive than a negative. If someone asked for an extension for a bid of £3.50, they wouldn't bother. If there was nothing, they'd just be going through the motions. Let's see.
Got censored. ar-se
**** daily - quite a prominent publication, but not always the most reliable source.
They remembered they have a website and posted a delayed update on Phase 2 completion:
https://ramblermines.com/storage/press-releases/sisp---phase-2-completion-update-1688508112.pdf
No details on number of parties (which we know from RIG group), but note of 'significant interest'.
My very first corporate job out of uni, reported into a person well above me at Director level.
He once said something that really stuck with me over these years. He said: "Don't just come to me telling me there's problem, tell me what YOU are doing to fix it". At first, I thought it was just some accountability-shifting BS, but reflecting on it over the years I've come to understand.
If you are just going around telling people everything's a problem, everything is bad and broken, at the same time contributing absolutely nothing towards a solution - guess what people's perception of you is going to be?
If, however, you highlight a problem and articulate this is what you've done so far and this is your plan to make it better - it's much easier for people at all levels to jump on-board, or even offer positive critique (that their unique experience allows them to do) and make it even better.
Seems to me the only thing that the organisers of the group are guilty of, is actually stepping into the ring and offering a chance for a path forward. Those critiquing offer no viable alternative.
While not being part of the group, I'm not sure I understand the negativity. The people in the group were fully transparent of what they're doing with the money. Nobody there promised golden hills or a guaranteed outcome. People knew exactly what they were putting money towards, and for those who had 10s of thousands invested, a couple of hundred is nothing. Nobody is taking that money for a pee up in Ibiza.
Litigation is a very complex and stressful process to the point where it's rare that you actually materially win something, everything else accounted for.
The group (and people organising it) deserve credit for a coordinated response on the recent vote, for disseminating information, and putting pressure on the BoD. Who knows how things would have played out if it was just a bunch of uncoordinated whiners posting resentful drivel on the Internet. BoD would have probably laughed at that while drinking some fine scotch and playing patty-cake with each others' asses on Brad Mills's yacht.
Now it seems like there is an increased probability of a reasonably positive outcome out of this, to the point of at least bringing most people to parity (or thereabouts) on their investment.
And again - is that CAD, USD, or GBP?
What's the difficulty in naming your source?
Friday is the deadline for Phase 2. Would be interesting to see some update on how things are progressing.
USD or CAD?