Rambler Metals & Mining Share Discussion Threads

[redhill] 10/4/2013 10:33

Are the MM's walking this down?

[jgraggaber] 04/4/2013 00:02

I regard this relentless focus on speculative acquisitions as a sign of the board's concerns regarding profitability and minelife of the mine. The latter has been clearly stated as rather short unless bulk operation into lower grade LFZ undertaken. Weakness in copper price does not help and they'll have a fairly good idea about its near term trends having a commodity trader sitting on the board.

[lwaxf13] 03/4/2013 10:16

RMM possibly on the M&A trail. Is the Ming Mine not enough to keep the management busy enough for now? Lets get distracted with M&A and see if we can hit gold :-)

[lucky_punter] 29/3/2013 10:47

Rambler Metals & Mining eyeing M&A in its own back yard

Moving into the black for the first time is a justifiable excuse to splash out on the cigars and a bottle or two of champagne but Rambler Metals and Mining (LON:RMM, CVE:RAB) has plenty of productive uses in mind for its cash flow.

[lucky_punter] 29/3/2013 10:42

UPDATE: Rambler Metals & Mining moves into black

Cash flows generated from operating activities for Q2'13 were $4,978,000, compared with cash used of $1,157,000 in Q1'13 and cash used of 530,000 in Q2'12.
-- Adds credit facility update and broker comment --
Rambler Metals and Mining (LON:RMM, CVE:RAB) has announced its maiden profit in its first full quarter as a commercial copper and gold producer.

[snowydays] 28/3/2013 10:01

The remaining circumstances in which the Gold Loan may be repaid earlier than by the delivery of payable gold
are as follows:



i. If within 24 months of the date that gold is first produced (28 November
2011), the Ming Mine has not produced and sold a minimum of 24,000oz of
payable gold (16,628 oz produced to 31 January 2013) then a portion of
the US$20 million will be repayable based on the shortfall of payable
gold, and/or;
ii. Within the first 36 months of production of gold any shortfall in the
value of payable gold below the following amounts will be required to be
paid in cash:


It looks as if Rambler will be short of the 24,000 oz gold over 2 years. In addition recovery rates for this year will be below the 85% mark at which the proportion of gold payable to Sandstorm increases for next year.

It seems to be a bizzare decision to halt halt the secondary reprocessing of tailings.

[rogsim] 27/3/2013 16:30

Another piece from Proactive Investors:

[snowydays] 27/3/2013 13:00

City broker Ocean Equities was suitably impressed. "This was an encouraging quarter for the company as it continued to ramp up production and continued to maximise metal recoveries. The two shipments to date have produced a clean concentrate with good copper and gold grades," the broker said.

"In the short term we would expect Rambler to create organic growth by delineating further reserves at the 1807 zone, especially in the newly identified up-plunge extension that will further delineate higher grade material to feed the mill. The company has completed the dedicated 1807 ramp system that will allow Rambler to efficiently extract the higher grade material from the zone," Ocean added.



You have to wonder if the brokers ever actually study the company. There was never any problem with mining the 1807 zone, the bottleneck was in the crushing and grinding facilities. The results show clearly that Rambler has been stockpiling mined ore from the 1807 as it cannot process all it mines.

[bashers2] 27/3/2013 12:56

Yep - I'm pretty happy also!

[killing_time] 27/3/2013 10:53

Hi snowydays,

On the subject of cash, because of the nature of the business the cash amount can change quite a lot on any given day so i find the best way to keep track is to just use the numbers that are given for the end of the quarters,

so end of Q1 = CND$4.9m Cash in bank
end of Q2 = CND$7.3m Cash in bank

[redhill] 27/3/2013 10:08

snowydays

They haven't increased the lending facility.They have just extended it.Prudent.

[snowydays] 27/3/2013 10:01

The results are no too bad on the face of it. The decline in net cash subsequent to the period end is worrying as is the need to increase the Sprott lending facility at about 20% interest when charges are considered.

Rambler are now talking about increasing production to the "planned" 630wmt day level when they had previously boasted of how the facility could handle 850wmt/pd.

The reprocessing of tailings has been abandoned for now and is described as a pilot test which may be started again at a later date.

On the plus side the discovery of an up plunge extension to the 1807 zone is helpful and hopefully the advent of spring will help with the problems of ore freezing.

At the moment though Rambler is certainly not the cash cow it was supposed to be by this stage. If they can only just break even mining the 1807 zone how will they cope when it is time to mine the lower grade deposits?

Half term report? 3 out of 10 - Must do better!

[ned] 27/3/2013 09:10

They seem to have done enough to take the pressure off. Fingers crossed that they can get the concentrate production up/pull off one of the deals that they are looking in to. They are certainly doing a lot better than others in their sector at present.

[killing_time] 27/3/2013 08:06

Going through the results they look a lot better than i was expecting,

Concentrate was 4,350 wmt with a net profit of CAD$1,958,000m

Cash in bank on 31st Jan was CAD$7.3m

They had a few problems due to the weather, grades are getting better,need to go through the results in more detail but quite happy with what i see. KT.

[redhill] 27/3/2013 07:21

Nearly CAD$2 million profit.Not bad considering some were predicting a loss!

[ned] 26/3/2013 21:25

Hi killing_time

Quite agree with the points you make and also with snowydays'

The share price has held up quite well considering, though on the face of it, it is Henderson Global rather than the company by word or deed that has accomplished that as far as I can see.

I expected a far better production rate than has been achieved lately, which to my mind puts my investment in the hands of a pretty cruel market at present, the "minor delays" don't seem to cover it.

However, I look forward to some good news with the results. An initial profit however minimal may buy the company a bit of time without selling pressure. I just hope that it is not the scale of the production operation that is the problem.

[snowydays] 26/3/2013 17:48

Yes. The last RNS stated that:

"Some minor delays have been seen at the mine due to various equipment issues;" but the low quantity shipped suggests thatthe delays were not that minor.

If we get some clear indication that the problems are resolved and that production has improved in March that should be good for the shareprice as should any news that the secondary processing of tailings is being successful. Perhaps there is an outside chance of some exploration results. If the visible gold area extends for any significant volume then Rambler could be sitting on, well, a goldmine.

The results are probably less significant than what we get with them.

[killing_time] 26/3/2013 13:42

Hi ned,

I'm not expecting good results in the next few days because of the disruption over the quarter and which looks like low production levels, but i would expect anybody now holding RMM to know this, with alot of pi's having already sold out.

For me it is about the future, i need to see that they can hit realistic targets and that any problems they have had will be ironed out. With copper prices quite low i need to see there plans and where they want to take the company in order for it to grow in the future.

I find Henderson buying in a good sign, and also that we do not have that many shares in issue so with any good news in the future the share price should rise but not expecting it from this set of results, though i do expect a small profit. KT.

[ned] 26/3/2013 09:52

I wonder how many holders there are left on the Baie Verte Peninsula?
There was a very confident march of people getting out.

Henderson are just as likely still accumulating and could easily keep the share price afloat if they can see a good outcome on the horizon, as long as there are not too many sellers. Hopefully the winter work problems have been sorted. It seems the plant might not be robust enough to achieve required results -- hopefully they can do what's necessry.

[snowydays] 26/3/2013 09:46

Thanks K_T.

It looks bad.

Rambler seem to be taking advantage of the old technique of hiding bad results by releasing them just before a bank holiday weekend.

Maybe it's time to cut losses here. Pity though, Rambler always seemed to have so much potential.

Pollyanna and the other Rambler fans here are keeping very quiet.

[killing_time] 26/3/2013 08:32

Had a reply to my e-mail i sent to RMM by Peter Mercer.

The 3150 tonnes of concentrate was all that was in storage at the time when they were asked to send a shipment. KT.

[snowydays] 22/3/2013 12:26

When I first read the statement that they would release the results prior to April 2nd I thought they meant they would be released on April Fools Day.

I think we are the fools here.