The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
After an utterly disastrous day I'll play this game :)
“The Company has recently completed an update of its long-term financial model taking account of the current macro-economic situation, which has indicated a requirement for additional capital
[V8 - I like the phrase "long-term financial model" suggesting they are preparing for the future]
The principle issues that the Company needs to address on its balance sheet in the short term are acceleration of the repayment of legacy commitments made during the intense Covid period .
[v8 - This reads to me as Rambler would like to clear this debt sooner, rather than later - don't expect it is NEWGEN calling it in early as they would need contractual terms to do so]
reduction of current operational accounts payable balances back to current terms
[V8 - I READ THAT AS THEY COULD BE IN ARREARS AND PAYING PENALTIES AS A RESULT. I HOPE NOT, BUT THAT'S HOW I READ IT.]
rescheduling the repayment of longer term debt to better match Rambler's operational cash flow generation
[V8 - MAYBE AS SIMPLE AS TIMING PAYMENTS FOR FLEXIBLY TO FIT IN WITH SALE OF COPPER? - I DON'T KNOW]
and further capital expenditures to further reduce operating costs.
[V8 - USEFUL MINING STUFF]
In addition, the Company is conducting a continuous review of its operational and capital commitments to identify elements that can be deferred without impacting near term operations, to ensure financial viability in the face of current copper prices
[V8 - I liked the use of "long-term financial model" earlier, but I don't like "financial viability" at all rather than optimising profitability, reducing costs etc.]
The capital to be sought is intended to consolidate the Company's operational gains and commence the process of strengthening the balance sheet in a more permanent way.
[surely there is a better phrase than "more permanent" but why not, I like a longer outlook]
As indicated in the Company's 2021 year-end accounts, Rambler started the year with limited working capital and as production has increased in an inflationary environment, the Company's working capital needs have grown. This was accommodated to some degree with a previously favourable copper price but the current period is such that the Company recognises the need to prepare for a more sustained inflationary environment and one where copper prices may be more inherently volatile.
[V8 - they refer to a "previously favourable copper price" and then earlier "in the face of current copper price" so I can only read that they planned around a copper price of around $4, somewhere between the "favourable" and "current".
It's an awful RNS for so many reasons, but my interpretation of it isn't all that bad and I'm still invested with a very large holding, having lost a small fortune today. (only lost if I sell though, right?)
Good luck to you all.
Utter gibberish.... or should that be gibletish!
[I'll let myself out]
My average is around 24. I'm semi retired currently but backing RMM to keep me that way :) I first invested in Rambler exactly one year ago at a price of... £21.35! Whilst the share price may be similar, things look so much better now and I'm very excited about the months and years ahead.
As was said above - H1 results from 2021 were posted end Oct (after a notified extension of one month) therefore I’d expect late Sept, which is fine with me.
It's been a good week, right? I'm feeling happy - hope all you other holders are.
I'm just learning this so look forward to the input from those who are much more educated in this. I guess it all depends on the copper price and what "high grade" concentrate means. Back in 2015 I believe the copper concentrate grades were around 27%. I've read that this can rise to 50%+ in producing mines.
Therefore my very uneducated view would be approx 20-30 million USD depending on grade.
Not sure on any of this but happy to be corrected :)
Exactly… some people will miss the bounce. (Imo)
I started investing during first lockdown(was bored of home schooling :) and my timing was pretty damn impossible to not make money. I'm as confident in holding Rambler as any other stock since I started investing for reasons we've all seen (world class asset', increasing production (to be proven longer term), massive future copper demand/deficit).
Recession/fears have hit the copper price but whether looking months or years - nearly everyone believes the copper price has to recover and rise.
Those longest term holders have clearly been bitten and are skeptical due to past performance. Those like myself probably find it easier to simply view the recent progress made and momentum (not in SP, but in the company performance).
At the end of the day, I don't think we'll play any significant part in the rise (or fall) of Rambler SP. Rambler needs bigger investment and those companies will have the chance to carry out due diligence and won't be demanding a monthly RNS.
I'm hoping and believing the rise is months, and won't take years.
I enjoy the input on the board - from both perspectives - and hope it works out well for all (though being truthful I hope a couple of the doubters miss that initial bounce) :)
Thought I'd pin my colours to the mast :)
Can I come? If it gets to 60p I'll gladly put a Rambler/chicken video out on my YouTube channel as well :)
I'm heavily invested here having added a lot more in the past week as I am very excited about the future here.
But... wondering if anyone can answer this one (as I freely admit I'm not an expert in mining).
Do we have any insight at all as to whether Rambler need to sell their produced copper at the current, lower copper prices? (eg they have a supply agreement and are looking into supplying at current market rate).
Or.. assuming cashflow is fine (which the Elemental Royalties agreement should provide) can they sit on a copper stockpile and wait for the copper price to rebound, meaning that a couple/few months copper price blip (if it is just that) won't have any material impact on annual financials?
or... would we simply be guessing either way :)
RNS sits just fine with me... in line with expectations, retaining revenue growth.
Anyone recall that there's been a few challenges during the last few months?
Stability during a period of turbulence isn't a bad thing at all imo.
Ah.... since I started investing as the start of the pandemic this is the share that made me most of my profit. It also lost me a huge portion of it too.
I think most of, if not all, the true investors here are hoping for good new tomorrow. I certainly am. Would love to hear that debt is significantly reduced and that contract retention/winning numbers remain good.
Good luck to you all
You get over it Bill ????
Couldn’t agree more - nice to see some positive movement today. Just hoping it holds, maybe improves tomorrow.
I'm hoping so.