Rambler Metals & Mining Share Discussion Threads

[pensionplanner] 16/1/2023 08:07

"As noted in the Company's announcement of 27 October 2022, the Company's first principal repayment was due to Newgen Resource Lending Inc ("Newgen") on 31 October 2022. No payment of principal was made to Newgen on 31 October 2022 and therefore an event of default has occurred as defined in the Newgen loan agreement. In addition, the Company ceased to make payments of interest due to Newgen in SEPTEMBER 22. Newgen and Rambler remain in constructive discussions to find a solution to the refinancing or restructuring of the Company. In the meanwhile, operations at the mine site are continuing as normal."

On 8th September share price was 21p

Shareholders informed about the September failure to pay interest NOVEMBER 2022

Now if they didn't pay in September, it must have been apparent from around MARCH 2022 when interest rates were on the march upwards!

But did they come to shareholders in advance, did they investigate or try a convertible bond which would have diluted shareholders far less than even a placing? NO, they carried on knowingly into default!

What company with a proved up billion dollar asset would do that and could such a company then claim it was being run properly?

OR

As many posters were concerned with from quite some time ago, was the company deliberately run into the ground, for person or persons as yet unknown to get a lovely billion dollar asset proved up by shareholders?

The Newgen deal itself seems to have been one of the highest risk deals for shareholders where other avenues existed and where again for the record Newgen are the Administrative Agent, with anonymous other(s) involved as the Newgen charge shows.

Would any company properly run with a billion dollar asset wait until they had defaulted, knowing that default allows seizure of the asset?

[pensionplanner] 16/1/2023 08:05

amaretto
"U get a loan for a car from Barclays... u can always repay it with a loan from the Halifax"

the question is why didn't Rambler do this? Not even when the share price was 20p+ and where if you look at the first default in September, the share price was?

Knowing all this, which shareholders were not even privy to, did they try convertible bond repayable solely in shares at 20p, 15p, 10p?

No, they went into default knowing that 100% of the asset was at risk. This doesn't look like a company trying to protects its billion dollar asset.

That along with some the bombshell RNS's which so many posters were asking whether the RNS's were designed to crash the share price ..then some might suggest it really doesn't paint a picture of a company complying with the Companies Act.

[amaretto1] 14/1/2023 09:04

U get a loan for a car from Barclays... u can always repay it with a loan from the Halifax.....DDDD pharmaceutical similar debt situation.....check out example.

[amaretto1] 14/1/2023 09:00

One of the largest producers in Chile.... Suffering from organised Mafia gangs stealing all the produced Cooper ......Yesterday 13 containers were stolen with nearly 5 million dollars worth of Copper plates destined for China. Glencore now upping figure to 60 million ton short fall in coming year. Copper closed at 4.2 IIB Sellers of RMM start crying now !!

[amaretto1] 14/1/2023 08:54

October 22 ... update 40 million including all debt and liabilities......Sat on 1 billion proven resource of Copper ...... hello people + kooba

[amaretto1] 14/1/2023 08:03

Your looking at a minimum 1 pound per share ...... 100 pence ! If not higher With copper marching on

[amaretto1] 14/1/2023 08:02

Who wouldn't want to buy it !!!

[excellance] 13/1/2023 22:14

This was wrapped up in debt for the sole purpose of defrauding retail shareholders, and Toby was the stooge.

[pensionplanner] 13/1/2023 22:09

As for Newgen getting 10pc personally I’d like in depth investigation of the as yet anonymous loan holders where Newgen make it clear they are the Administrative Agent for the debt.

Rambler had every opportunity to raise far cheaper than Newgen millstone let alone cost setting it up.

If person or persons unknown had conspired elsewhere in a campaign to disenfranchise shareholders I doubt they could have done as good a job.

A corporate bond issue convertible in capital and interest at 20p could have been undertaken and when it was clear a default was on the cards even 10p conversion to clear debt was possible. Anything to protect the company’s billion dollar asset…but no……and with everything else there are serious questions that need answering

[pensionplanner] 13/1/2023 22:01

It’s not just failure to report it’s the apparent deliberation leading up to where we are now and some of the decisions taken which I doubt anyone could suggest was safeguarding the BoD against personal liability.

[rental] 13/1/2023 21:28

meanwhile copper is now over 4.2

RMM didn’t report to the market if it has missed November and December 22 payments so I take this the loan payments were made in November and December 22, if they didn’t make them and failed to report this then shareholders will be able to take action against the CeO personally.

I believe the CeO has no choice but to get this relisted otherwise he will be facing personal bankruptcy so this is good news for us.

what the restructured deal is we can only wait and find out,
giving newgen creditors 10 percent of the company would be a good move and now take advantage of the nearly all time high copper price.

[pensionplanner] 12/1/2023 15:54

Copper 9,124.50 LME (3 months)

[somersetinvestor] 12/1/2023 12:48

Cheers Pension / Kooba, fingers crossed the run on copper prices allows them to sort this mess out.

[amaretto1] 12/1/2023 09:53

Your full of it ....Your portfolio says other wise !

[kooba] 12/1/2023 09:36

Am1 I had to put you straight on your rubbish take on the forward sale..being a deal that meant the company would come back imminently and all was sorted..seems that was 2 months ago.
Your understanding of such matters is less than basic and you should consider whether you should educate yourself more before you post. In the meantime i think you are less than useless as any source of opinion …so on ignore you go.
Kooba
“Don’t get your point here..who is getting 11%..it is RMM who have forward sold (hedged) it is not a royalty agreement with newgen or anything like..it may be going some way to guaranteeing prices in future for the company. This is not the “deal” if it was RMM would be returning from suspension. It may be part of getting visibility on future earnings working out what the company can finance. We will see , in isolation considering the position it’s not hugely informative on the purpose.”

[pensionplanner] 12/1/2023 09:33

Not worth throwing sticks at each other. Solves nothing.

[kooba] 12/1/2023 09:25

“Your stock picks are suicide”

Well Rambler was I’ll give you that ..doing fine though thanks for all your interest. Not so much.

[kooba] 12/1/2023 09:23

Hurricane are up 100% over 12 months.Carry on reading my posts ..you might learn something feels.Nice to have a stalker..but I'm really not that interested in you or your opinions.

[amaretto1] 12/1/2023 09:20

Get over it ... u and your goon gang sold out ...... sad Back to your Welsh hills ....Your stock picks are suicide

[kooba] 12/1/2023 09:15

"On re list ... u will not get in under 10 pence .... FACT"You wouldn't know a fact if it gave you a well deserved smack in the face sunshine.

[kooba] 12/1/2023 09:14

When folks do not manage their risk exposure to small companies it can lead to issues with mental health..thoughts with you at this difficult time amaretto1. As it goes i own some rambler but half a unit and have traded them in and out a few times over the past year or so took some profit out so this is of little consequence. I spread my risk so if something goes wrong on one stock it is inconsequential...however i would like to see it emerge from the ashes with some value ..but am not relying on it.