RE: Rambler22 Apr 2023 23:16
If they can find few buyers and sell for $120+ millions (very much possible compare to their assets) our investment will back .all we need here to find lots of buyers as rmm board proved themselves inefficient with a huge potential asset.
Any one find any potential buyers e mail them about rambler sale documents before 19th May.hopefully as a investor primorus will find lots of buyers for rambler.
It's now under sale process under monitor ( grant Thoroton, canada) .
Rambler has total $55 millions of debt and $30 millions of deffered tax asset.So in reality it has 25 millions of net debt compare to 428000 tons of copper and 230000 ounces of gold reserve,all plant machinery equipments , all licences for mining which takes years to get for a new miner ,little deer complex which also got reseve of lots of copper etc.
Rambler was a producing mine few weeks ago before they failed to refinance from newgen which we believe a personality clash between rmm ceo and new gen board.the assets is there all we need to find few buyers who will fight for it and give us fair value compare to recent M&A in this field .