Rambler Metals & Mining Share Discussion Threads

[amaretto1] 18/1/2023 16:14

All i do know ... I'm pretty certain RMM will now get re listed !!!Which is very good news for all shareholders ....At what price ... I'm not sure ... but I'd put money on been over 10 pence

[pensionplanner] 18/1/2023 15:53

I'm a little later in the game, but good luck.

I am though furious with how the 'game' has been played and have called for a full scale investigation both in the UK and in Canada, and I'm sure there is at least one director that knows it!

Funny thing is that because the contract is under UK law, any pressure by newgen to prevent refinancing elsewhere, without diluting their claim to the asset would likely be considered unfair contract rendering the whole agreement questionable and likely then unenforceable.

In a better vein copper (comex) now 432.35, so no doubt another RNS next week showing forward sell done at 200 months ago...(tic)

[amaretto1] 18/1/2023 15:50

Yes ... I'm not talking about me

[pensionplanner] 18/1/2023 15:49

the BoD should never be allowed to get away with the situation they created. Won't change the asset, but changes have to be made at BoD level.

[pensionplanner] 18/1/2023 15:48

Amaretto1. But you are a long term investor aren't you? 2018?

[amaretto1] 18/1/2023 15:44

Well certainly not long term investors .... i agree But anyone buying under 10 will be smileing..... I'd say that's now a certainty

[pensionplanner] 18/1/2023 15:40

You can bet your life that those who will gain most from the situation RMM have brought upon themselves WILL NOT BE THE SHAREHOLDERS.

With no attempt at using shareholders to raise, and not necessarily via placing, if the asset can't be sold on via default it will be a trough for everyone other than shareholders. Even an open offer is nowhere near as beneficial as raising finance as they should prior to a default back in September when the first payment to Newgen failed to materialise, but only conveyed to shareholders in November.

No confidence in the BoD and they should fall on their swords, but no doubt will be rewarded with copious options if they save an asset that THEY jeopardised in the first place.

As mentioned and where certain members of the Board know from certain communication, a convertible corporate bond was a possible, with no interest or capital to pay convertible at a 20p share conversion rate.

But no, go into default, use shareholders cash to prove up a billion dollar asset and the rest is history and where it might be too hot for newgen to seize (which they are entitled to do) and sell on under the circumstances of how it all occurred.

So if that isn't feasible any more what else can be done to dilute shareholders from their billion dollar asset.

[amaretto1] 18/1/2023 15:18

Act has a favourable loan guarantor

[amaretto1] 18/1/2023 15:16

The answer is YES !! First 2 are for 11 million Next one ?? Newgen Loan 16.5 million.....

[amaretto1] 18/1/2023 14:57

Could the next forward sale of Copper added to the last 2 ....Pay Newgen off in full ?

[amaretto1] 18/1/2023 14:55

SP ANGEL .... RMM nomad Quote ..Share of 2023 !! You telling me they don't know now what's going on ?

[excellance] 18/1/2023 14:43

"well done all holders"?

It's suspended, so not exactly a choice is there.

Also, there can be no guarantee

[rental] 18/1/2023 14:21

it is now clear RMM are going to bring in another company as part owner to zero all debt and enjoy the ride going forward, it’s now clear to see todays shareholders will do very well now this update has been published, we can now rest and wait for our payday,
well done all holders.

copper now 4.33 at time of writing, RMM have been so lucky at time of the negotiations to see the massive rises in copper.

[amaretto1] 18/1/2023 13:26

The sellers like on LSE .... are literally crying in their soups....Ropes out from under beds ... Copper over 4.3 ....And NOTHING in Newgens loan that could affect or step in front of a outright sale !!! DR Copper .......

[pensionplanner] 18/1/2023 09:29

Copper (Comex) over 4.30

I wish I could be confident in the Board!

Thusfar they not given any reason for confidence in their running into the ground this company.

Commenting about indebtedness and default as almost insignificant demonstrates the casual indifference to shareholders, and the asset. We don't need the board telling us about the value of the asset, we need to tell them its still ours and a few resignations too.

They walked knowingly into default! SHOCKING

I do not know if they even comply with the Companies Act regarding limited liability under the circumstances.

The statement below demonstrates Rambler could have arranged finance prior to default as if they are in conversation now with several groups, there was nothing to stop them thinking about financing to the benefit of shareholders BEFORE default and nothing apparently now considering shareholders.

"We remain in conversations with several groups as we seek to restructure the finances of the Company. Central to this process is Newgen as our principal secured creditor. "

[tightfist] 18/1/2023 08:40

".....The Board is confident that the total indebtedness in the Company is far outweighed by the intrinsic value of its assets and operation, notwithstanding the lack of working capital and the ongoing default in respect of the loan from NewGen....".Just have to be patient to see this unwind, tightfist

[saturdaygirl] 18/1/2023 07:31

RNS


Rambler Metals & Mining (LSE:RMM)
Intraday Stock Chart


Wednesday 18 January 2023
Click Here for more Rambler Metals & Mining Charts.

TIDMRMM

RNS Number : 0422N

Rambler Metals & Mining PLC

18 January 2023

18 January 2023

Q4 2022 Operational Results

London, England - Newfoundland and Labrador, Canada - Rambler Metals and Mining plc (AIM: RMM) ("Rambler" or the "Company"), a copper and gold producer, explorer, and developer, is pleased to announce its reconciled operational results for Q4 2022, with the exception of gold values which are awaiting final assay results.

PRODUCTION

-- For the quarter ended 31 December 2022 (the "Quarter" or "Q4 2022"), the Ming Mine averaged ore production of 1,045 dry metric tonnes ("dmt") per day (Q3 2022: 998 dmt per day). Broken ore inventory on surface at year end was 6,047 dmt (Q3 2022: 4,741 dmt).

-- During the Quarter, the Nugget Pond copper and gold milling facility achieved throughput of 1,119 dmt per operating day at a feed grade of 1.84% copper (Q3 2022: 1,177 dmt per operating day at a feed grade of 1.75% copper).

-- Plant throughput was 94,831 dmt for the Quarter at a copper head grade of 1.84% (Q3 2022: 102,189 dmt at 1.75% Cu).

-- Recovery of copper metal to concentrate was 94.7% for Q4 2022 (Q3 2022: 95.8%).

-- During the Quarter, the operation produced 6,263 dmt of concentrate containing 1,652 tonnes of recovered copper at a grade of 25.6% copper (Q3 2022: 6,263 dmt containing 1,716 tonnes of recovered copper at a grade of 27.4% copper).

-- The saleable metal production in Q4 2022 was 1,588 tonnes of saleable copper (Q3 2022: 1,654 tonnes of saleable copper).

-- Development during the Quarter totalled 853 meters (Q3 2022: 931 meters).

Q4 2022 Production Results

Table 1 below summarizes the Ming Copper-Gold Mine's production and development results for the last 5 quarters going back to Q4 2021 and period to date comparisons between 2021 and 2022.

Table 1 : Quarterly mine operations results for the last five quarters and period to date comparisons between 2021 and 2022

[somersetinvestor] 18/1/2023 07:26

Central to this process is Newgen as our principal secured creditor. However, there can be no certainty at this stage that Newgen will agree to defer or reschedule the repayment of its loan. We will update the market on the outcome of our financing discussions in due course.

[amaretto1] 17/1/2023 21:02

Still TO whispers coming out of Canada.....DD on the groundNow that would be some crazy end to this story .....Surely close to 50 pence 90 million plus debt of 30 ...... 120M for 1 billion copper mine.

[pensionplanner] 17/1/2023 20:39

The terms of the loan would have allowed it, it only prevented them raising money by divesting assets or part of. No doubt Newgen would have had a say, but they could have raised.

We paid a fortune for the fee to start it off, which was ridiculous

[excellance] 17/1/2023 20:16

PP, the terms of the loan would have prevented them from raising money to refinance, they just didn't bother telling us.

[amaretto1] 17/1/2023 19:39

Over 2 months now since last update ..... Angel and gang don't even ring u back ..not good enough !

[amaretto1] 16/1/2023 15:38

Agree .... it stinks !!!