Rambler Metals & Mining Share Discussion Threads

[the_preacher] 27/10/2022 13:38

Wasn't this suspended a couple of years ago pending finance.

[excellance] 27/10/2022 13:16

As noted in the Company's interim results, announced on 26 September 2022, repayments of capital on a loan balance of US$16.4 million provided by NewGen Resource Lending Inc ("NewGen"), the Company's principal secured creditor, are due to commence on 31 October 2022. The Company has been in active discussions with NewGen to defer or reschedule the repayment of its loan, which is intended to form part of a wider restructuring of the Company's finances. However, an agreement has not yet been reached to defer or reschedule such capital repayments.

Accordingly, the Company's ordinary shares will be suspended from trading at 7.30a.m today, pending clarification of the Company's financial position.

[pensionplanner] 27/10/2022 12:54

Nice to see friendly posts!

So many assumptions yet none are what are stated in the RNS?

Until we do know not a lot of point in creating at present fictional assessment then adding to that in a story that may have no basis at all

[excellance] 27/10/2022 12:42

This is why Toby keeps banging on about legacy debt.

We could refinance legacy debt, but who would want equity under these circumstances?

If we remove all debt except Newgen, will we be able to manage the Newgen debt?

[farrugia] 27/10/2022 12:35

but if they did a rights issue, they could use the money to boost production and hence pay the loan no?

[excellance] 27/10/2022 12:32

I'll bet that there's a clause in the loan agreement that repayments MUST be made from fcf and not from placings or further loans.

Totally screwed over a barrel, and by design, delivered lock stock to their masters.

[amaretto1] 27/10/2022 11:02

Due to been a strategic employee

[amaretto1] 27/10/2022 11:01

Good luck with that Canadian government are involved

[excellance] 27/10/2022 10:59

Yep Ng will probably sell to a mate.

[presto77] 27/10/2022 10:51

Oh ffs stop posting... you are embarrassing yourselfGo tell mum and dad and stop banging on

[jasperthemonkeygod] 27/10/2022 10:51

hmm, it's not very 'working with' though

what junior miners would approach NewGen in the future if they are indeed firesale merchants

[excellance] 27/10/2022 10:50

If only we had another year and another $20m

[jasperthemonkeygod] 27/10/2022 10:46

that's a pretty dark scenario tbf presto

how would that reflect on Newgen?

it looks like they are based in Toronto so I guess it doesn't matter

[presto77] 27/10/2022 10:45

Oh fk me you are a complete thicko It's a stock forum you nonce