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Remember when John Meyer said Transamine would not let Rambler go under.
Also, that Bradbury is good at 'banging heads together'. We sure are banging our heads together, against the wall.
Just posting to say that I appreciate you all digging for updates and keeping the faith.
By the look of things the company has some good product and ideas, as well as really talented folks working in the background. Mr. Snow looks to be a serious operator, and to secure funding in such a challenging environment is impressive. Laura's response and willingness to put herself out there and be accountable says something as well. Could have easily stayed quiet.
They just needed to shake off some leeches and scnmbags and now need some time to recover.
>Too embarrassing to say what I really drive.
More embarrassing than a 2002 micra? Are you a Fiat Multipla enjoyer?
Nothing more than light-hearted teasing. Always been pragmatic about cars. 4 wheels? Reliable? Gets from A to B? Good enough for me.
> loan on my 2002 nissan micra
I see your poor financial decision-making didn't start with Rambler ;-)
Buying an Octavia VRS if this pans out :-)
The man + Know0 are putting themselves out there and making themselves public, shouldering the responsibility, voluntarily, at the expense of their own time. As of late, the whole thing became a bit more than being an admin on a discord group.
I think they earned some 'frustration credit'. More so than djcryin and other primates, anyway.
>In the meantime I will be very curious to know how circa 10% of the equity this group
This is false. I believe the current number is around or just over 20%?
djcryin - word salad master chef
Any bidders will essentially be placing a bet that some time in the future (in a time horizon the buyer is comfortable with) the price of copper and the cost of operations will be such that it makes the investment/purchase or part/all of the assets worthwhile.
Not all buyers will be going in expecting to make bank from day 1, today. They are not day traders.
>When will shareholders get put out of their misery?
The next date to watch out for is in a week's time, as per the RNS:
· the next hearing is set for 15 March 2023 for the Court to consider a proposed sale or investment solicitation plan (the "SISP", or the "Strategic Process"). If approved by the Court, the Strategic Process will be conducted by the Monitor under the Court's supervision and will be designed to achieve the highest value available or otherwise best offer for the Company, its subsidiaries, and its stakeholders.
>I was hoping "After Hours RNS" was some sort of new adult late night programme.
Everything can be a fetish if you try hard enough.
> It's not a definite that the mine must be sold.
I say we sacrifice the Little Dear :-)
Is that the maths here?
Assuming the entire thing goes up for sale, would the maths be:
Total sale value MINUS secured creditors owed MINUS unsecured creditors owed MINUS fees etc. DIVIDED BY number of shares? Is that the shareholder share price?
For reference, Amur Minerals recently finalised the disposal of their Kun Manie asset in a very remote part of Russia with no road network or other infrastructure, no producing mine, for $35M to some Russian guy:
https://www.lse.co.uk/rns/AMC/completion-of-disposal-of-kun-manie-for-us35m-4gjuytrx7zjmwma.html
List of creditors is quite an interesting document.
In case anyone was wondering, like I was, unsecured creditors all total up to around $20.5M
Haha, Discord is just a communications/social app, mostly popular in the gaming/crypto communities. It works quite well.
I would agree though, that the decision to set up of a group within a group is not ideal. You should just be able to join the one group.
They could see themselves as being shrewd. Someone else (rhymes really well with Bradbury and his last CFO) f'd up, and they have some probability of getting way more than what they originally agreed to - they go ahead and decide to capitalise on it.
>So Newgen are responsible for this situation we are in?
As I understand it, NewGen themselves are a facilitator in this, i.e. they don't have a current account with X money that is wholly theirs that they chose to give Rambler. They manage other people's money. As part of the Rambler transaction, a number of lenders/debt-holders pooled in and agreed on set terms to lend Rambler money. And perhaps the reason it's taken so long to sort is because in seeking to rearrange the terms, they have to agree it with all the debt-holders, and per JM's sentiment, this appears to have been difficult (mentions one who even passed away).
Not that Bradbury's proven himself as a man of his word (or a man at all), but this gives some hopium:
"ultimately work towards achieving a transaction that is in the best interests of Rambler and all of its stakeholders"
Emphasis on 'all'.
However, I also expect nothing. That way, you can get pleasantly surprised!
HawaiifiveO, same.
This should be backed up as well.
https://ramblermines.com/storage/misc/rambler1-28374-pro-1660851163.pdf
>Maybe you need to give your friends at the CIA another ring moon. Clear fraud going on here!!
A coup, and not the chicken kind, haha