RE: Another forward sale on Copper6 Dec 2022 19:45
I don't post much here anymore because I sold at 10p with 31p average (taking considerable losses), but I am glad to see RMM taking the right steps. Things should never have come to this, but it has and they appear to be digging themselves out of the hole they dug in September. I still think TB at a minimum has to go to restore trust, and his last job should be ensuring the company continues on.
I think this will do +100% at least on the first day of suspension lifting, and if I can re-enter below my exit price I will be a buyer. It dropped to 5p because lots of people were fearing a wipe out or major dilution double/tripling the shares in issue, but I don't see that happening and the share price will quickly reflect that. In the short term it will probably rise to around 15p, but in the longterm I think even people with higher averages will be in profit. The real gains from this share were always at full production with ore sorter and decent copper price, and eventually a new mill. All that is still possible over the coming years. 2023 will be rough but the company will get through it.