Rambler Metals & Mining Share Discussion Threads

[jasperthemonkeygod] 28/2/2023 07:23

Yep

That's why it's interesting

[tightfist] 28/2/2023 07:21

Jasper: "....The Strategic Process will be conducted by the Monitor under the Court's supervision and has been designed to achieve the highest value available or otherwise best offer for the Company, its subsidiaries, and its stakeholders....".Given the business organic cash generation combined with the DIP loan facility, IMO there is no need to set a fire? tightfist

[jasperthemonkeygod] 28/2/2023 07:16

Fire sale

Interesting...

[tightfist] 27/2/2023 13:26

IMO RMM could be reborn as a Phoenix in the right hands and with robust capitalisation. The Fat Lady isn't even near the stage yet..... Her chauffeur may be Grant Thornton?

[danmart2] 27/2/2023 13:07

I have come to the conclusion Ramblers is dead from a UK investor point of view

A serious investigation is required

[amaretto1] 27/2/2023 11:55

it's giving them time and breathing space .....Which imo will lead to a full sale of the mine ...Plenty Copper reserve buyers in the market .... Notebly USA car manufacturers !

[tightfist] 27/2/2023 10:22

Hi PP, there is certainly a lot that could come out in the wash, though I don't suppose we will ever know the complete back-story. (Are you including consideration of the CFO change on 24th March last year?)..Hopefully the legal process will now kick-in under the Monitor and ensure fair play for all stakeholders. DYOR, tightfist

[pensionplanner] 27/2/2023 08:50

tightfist. Be even more interest to find who the investors were at Newgen, as they were loan administrators, not necessarily the investors for the debt. I can't help wondering why someone set up that type of debt in the first place, as you'd have to know it was a millstone, when plenty of other raising options existed. Would hope that whoever set up the deal isn't one of the investors via Newgen financing that debt as that would be the last straw.

[tightfist] 27/2/2023 08:23

Whoops, I missed this bit: "The mine is ready to resume and, following the issuance of the Initial Order, the Company expects full operations at the Ming Mine to restart on 28 February 2023"

[tightfist] 27/2/2023 08:21

Yes, posts #9341-2 prefaced Canadian law which I I am pleased to see - plenty more skin (employment, streaming agreements) in the game over there. It would be interesting to see a listing of the involved "senior secured creditors" who all have their snouts in the trough. Note that the Sandstorm agreement (20th Feb RNS) defaulted last night (the 26th) alongside the previously defaulted Altus agreement. DYOR..The mine was scheduled to recommence last Friday, the 24th, so presumably the Initial Order will receive some rapid action. GLA, tightfist

[amaretto1] 27/2/2023 07:53

It's the best we could have expected at this stage ... Any one notice the Canadian law bit ?That I've mentioned on several occasions ... but vilified by the resident so called experts on here !!! Anyway..... we all have a chance !!! GLA

[pugugly] 27/2/2023 07:50

As very uncertain future is not suspension justified?

[tightfist] 27/2/2023 07:48

Very Interesting developments at RMM and the directors are going the Canadian legal route, so we have unfamiliar terminology..With the appointment of Grant Thornton as "Monitor", "....Directors and management of Rambler are expected to remain responsible for the day-to-day operations of the Company, under the general oversight of the Monitor..." and "...a conditional DIP agreement for a loan of US$5.0 million with RMM Debt Limited Partnership by its General Partner RMM General Partner Inc., representing certain senior secured lenders to RMMCL..." IMHO it gives the prospect of a fresh lease of life to RMM..Personally I am not over-fussed about immediate short term trading - however could this create an immediate buying opportunity? As ever, DYOR! tightfist

[excellance] 27/2/2023 07:39

Good news, but legal process to follow.

[jasperthemonkeygod] 27/2/2023 07:37

Doubt it can relist yet

[rental] 27/2/2023 07:16

a few of you having a lie in

RNS

New 5 Mill Loan
Mine up and running tommorow

New Monitor

No idea what it all means really.

[amaretto1] 23/2/2023 10:08

i can't believe Brad mills is over seeing this charade....He's got a lot to lose R they selling it on the cheap ? Or just pulling the rug .....SP Angel would be better cleaning toilets

[pensionplanner] 23/2/2023 10:00

excellence: Which is why RMM should have gone to shareholders with a convertible bond at say 5% with a fixed conversion of 20p which they could easily have done instead of a newgen millstone.

This deal looks deliberately to cause problems, and as many have mentioned a lot of the RNS's seemed to be more focussed on negativity which damaged the share price immeasurably.

The BoD do appear to have a lot to answer for, and seem as though they might have withheld information to shareholders as RNS's after the event demonstrate.

[pensionplanner] 23/2/2023 09:56

rental: The FCA are involved, but they seem to have a mandate to protect anyone other than shareholders.

[amaretto1] 23/2/2023 09:53

Not yours !

[vatnabrekk] 23/2/2023 09:44

Amaretto, what’s wrong with my post? I see nothing contradictory about it.