Rambler Metals & Mining Share Discussion Threads

[elpirata] 19/2/2023 14:03

LOL must be true then ;-)

trader is right, heres the link to the correct information ie the legal charge, read it for yourself & note paras 24 & 25 English Law & Courts have exclusive jurisdiction

[vatnabrekk] 19/2/2023 13:31

I have no link to it. Someone made the statement on here.

[trader465] 19/2/2023 09:40

What law are you referring to, and do you have a link to it?

Looks cut and dried to me. The loan is secured against the asset, RRM has defaulted on the loan, so the lender takes the asset.

[vatnabrekk] 18/2/2023 15:58

I think we've been told on here that NewGen are prevented by law from confiscating the assets.

[excellance] 18/2/2023 15:26

Newgen may want proof that Ming can operate profitably before making any further commitment.

Obviously suppliers will probably not supply on credit and risk not getting paid, so any supplies will have to come from cash flow.

It's good that Newgen haven't just confiscated our assets, but we are on a knife edge.

[amaretto1] 18/2/2023 11:58

A total disregard for Shareholders ! SP Angel what are doing ?

[vatnabrekk] 18/2/2023 11:03

And clearly they are not playing ball, as nothing seems to have happened since October.

[amaretto1] 18/2/2023 10:51

Why are Newgen not playing ball ??

[amaretto1] 18/2/2023 10:49

A bond maybe ? Or a outright sale would be the best surely.......Copper asset not going any were.

[amaretto1] 18/2/2023 09:52

The RMM business model. To pay all debt payments and be Cash generative.... profitable. Is Copper at 4 ......So a 3 month dip under 4 on the Copper price ..... Has put RMM under ?? U telling me the Canadian government with their well documented stance on strategic metals for the future....Are going to let this happen !

[amaretto1] 17/2/2023 19:27

I've left voice messages....They don't ring u back They don't give a toss !! Poor form.

[vatnabrekk] 17/2/2023 19:24

That's true amaretto, there's no such thing as "price sensitive" information at the moment!

Perhaps we should all write to share price Angel asking them to arise from their slumbers and do something useful. If they get about 50 letters or emails all saying roughly the same thing, then they might respond if nothing else.

[vatnabrekk] 17/2/2023 19:13

"But what axe can fall ? "

The axe of involuntary administration if they can't afford to pay their debts and can't afford to continue operations. Then if the administrator decides that the company has to be wound up, presumably that's when NewGen would be able to get it's hands on the assets.

If it is the case that NewGen can't get hold of the assets in this way, then what is the point of NewGen refusing to renew the loan and repayments? What can they possibly have to gain by doing nothing, which surely can only result in the company going bust?

[amaretto1] 17/2/2023 18:55

FOR SALE !!

[amaretto1] 17/2/2023 18:55

RMM need to put the for sale sighn up !!! if they haven't done already.....

[amaretto1] 17/2/2023 18:53

Agree with most of it .....But what axe can fall ? Appart from Newgen

[vatnabrekk] 17/2/2023 18:44

If NewGen wanted the company to keep operating to the point where they would become able to pay off the loan in due course, then presumably they would have agreed to renegotiate the loan and re-payment terms by now. The fact that it appears that they are not prepared to come to some arrangement suggests that they intend to "starve" the company out. I just can't imagine that NewGen and RMM have been involved in serious and meaningful negotiations for all of this time.

But of course I don't know what NewGen's end game is. If they can push RMM over the cliff and take ownership of the assets, what would they intend to do with it? Presumably they don't have the experience or skill to operate it themselves, so they would have to either sell it, or bring in a management team to operate it on their behalf.

There must be some options available to the RMM BoD, rather than just sitting there waiting for the axe to fall. Put the company into voluntary administration? Try to raise $15M in a placing? Something else?

[amaretto1] 17/2/2023 18:43

i know for a fact .... under Canadian law Newgen are pretty power less. They cannot take the asset Only option they have is negotiating with RMM ....That's why I'm asking what the hell is going on

[tightfist] 17/2/2023 18:13

At times like these I wish I knew more about company law and the options in front of the directors. Neither am I sure about applicability of the U.K. versus Canada legal framework; I have a look at this to see one U.K. option:.https://www.gov.uk/put-your-company-into-administration.If NewGen were prepared to spend 35p/share in Dec 2021, the price of copper is back close to that level, and the performance of the mine/mill is improving......What we need (again) is some more working capital, tightfist

[amaretto1] 17/2/2023 16:43

It would be backed with out doubt ! Especially if they hedge some more Copper at over 4 ......It's all getting a bit silly Imo

[vatnabrekk] 17/2/2023 16:37

I wonder what would happen if they tried to go for a placing to raise $14M to pay off the Newgen loan?