More optimistic now than ever10 May 2021 23:38
Toby Bradbury "2021 is a year of re-birth for the company". All about setting up for 2022 onwards, although, as mentioned this years revenue will still be susbtantial even at the hedge of $7,700 (which at the time, only recently, was a great price), now what remained of the 2020 hedge at $5800 is also completed. 2021 Q4 saleable metal potentially sold at current Cu cost also, dramatically improving bottom line.
Initially focusing on the Ming Mine; Cu mineral reserve of $1,541,600,000 ($4.70/lbs) & Au minral reserve of $209,190,000 ($1835/oz). Not including mineral resoucres inferred. We're aware of potential bonanza grades yet to be further exlored.
Rough forecast Production for 2022;
10,500/t saleable Cu @ $4.70/lbs Cu Cost = $108,798,129
5,500/oz saleable AU @ $1835/oz Au Cost = $10,092,500
Total Revenue = $118,906,629
Not necessarily best case, 'actual' could be greater, just a prediction on readily avaulable info.
"Completion of the purchase of the 2,200 tonnes/day Duck Pond pland and planning for its dismantiling and relocation to the Ming Mine site, beginning Q3 2021. The asset is a cornerstone of the Company's strategy to further expand operations and reduce operating costs" - Will also result in substantially reduced production costs, improving bottom line.
Personally, dont feel the BOD would have disclosed the need to raise funds prior to carrying out a placing, I have never seen this before. Numerous "financing options" available. Luckily for buyers. The market has priced in dillution with a circa 38% drop from last week. If rambler achieve a JV or a short term loan on competitive terms expect an instant re-rate. The company still has around 15/20% of its Mcap as cash. I think the proposed fundraising is to get copper out of the ground quicker than initially planned imo, given particularly, the meteroic rise of copper.
The above does not also incorperate Little Deer & Whalesback which have brilliant strategic locations. Combined resource of 2,708,000/t Cu @ 2.16%. Circa $589,240,740. Inferred resource of 4,191,000/t Cu @ 2.07%. Circa $951,579,710. Hardly a shock there has been "a number of unsolicited offers of interest". "actively seeking arrangements to advance these projects while retaining *signifiant interest*".
Hopefully the above puts it into perspective, that a minor 'delay' in the intial months of a turnaround year is incredibly insignificant over the longer term prospects of the company which remain impecible, especially under such highly experienced, reputable management behind a constantly strengtheneing macro invironment for all of ramblers saleable metals. As the turnaround continues, the fundamental value here rises as we head towards 2022. Especially with the commodity supercycle gathering pace. GLA.
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