Rambler Metals & Mining Share Discussion Threads

[trader465] 15/4/2023 15:33

“Toby Bradbury replaced Mike Houston as CEO in April 2015”

Note the word “replaced”

Why was Bradbury seeming kicked out of SHG? Was he doing something he shouldn’t have been?



Amaretto1 why don’t you ring Mike Houston and ask him what Bradbury was up to SHG? You seem to have rang everyone else.

[amaretto1] 15/4/2023 13:26

Maybe you should rethink your HZM long then, amongst others ! The talked about tax burden on any South American mine in the coming years will severely stifle profits... Similar to our NS with oil ! Keep a close eye on that.

[excellance] 15/4/2023 13:09

Unfortunately so are energy costs and wages

[amaretto1] 15/4/2023 12:48

And maybe a buyer would realise like all the mining community....Copper is heading one way !

[amaretto1] 15/4/2023 12:46

U odviously dont !! But you never did.

[excellance] 15/4/2023 11:20

That was gonna be my next point.

With large losses on the books, a cash rich buyer could offset their own tax on profits against rambler losses and derive maybe $15m to $20m in value, but how much would that really be worth to them considering they'd also get the Ming mine which struggles to break even.

Of course if Ming was owned by another company which has other mines the corporate costs would be shared and there would be synergies, so no reason why a big boy can't step in and snap us up if they are convinced of their numbers and have done due diligence, but has there been enough time for serious DD or is this happening very quickly to prevent that?

[didar007] 15/4/2023 10:26

Debt $50 millions and we have deffered tax asset of $30millioms.so net debt is $20 millions.value we could sell-$20 millions-fees and expenses =shareholders portion .

[excellance] 15/4/2023 09:47

The company has $65m in debts and the mine can barely break even, so the company is kaput, assets liquidated to try and recoup some cash for creditors, Newgen first.

Obviously the decision has been made to not add to the already significant debt pile and to reset by liquidation.

At Ming they have a fairly newly refurbished mine with fleet of vehicles, a processing plant, and there is a port facility too.

Maybe someone with deep pockets can improve efficiencies and get costs down and make a profit, but not if they have to pay a fortune up front.

There are jobs to consider, and we know there's a lot of ore to be had, so maybe the authorities can orchestrate a buyout if they offer incentives to the next owner, but I seriously doubt existing holders will get anything back for their shares.

I expect there'll be legal claims blocking progress for years here.

[mallorca 9] 15/4/2023 09:21

What part of ' the Company is being liquidated' don't you understand ?

[didar007] 14/4/2023 23:14

Begining of the end .hope we will see a bidding war which will give us a fair price for rambler .

[excellance] 12/4/2023 19:34

Taking the pi55 you mean.

[excellance] 12/4/2023 17:00

The website is up and running again, didn't expect that. Maybe Toby and chums will come up with a bid to take RMM private in the next day or two?

[amaretto1] 12/4/2023 07:13

Brad mills put in 50 k not 5 !

[amaretto1] 12/4/2023 07:11

Why do u think the web site as disappeared ? It's being sold under the table for peanuts ..... by imo legalised criminals . Glencore Canada are aware of everything in the public domain !! Because I've told them.

[excellance] 12/4/2023 00:18

Too quick for any big boy, no time for DD, all by design so connections can table a ludicrous bid to steal the assets, and perfectly legal.

[kinwah] 11/4/2023 23:54

Actually I don't think today's RNS has changed the overall situation. The UK quoted entity has run out of money and can't pay any more bills so £5k has been ponied up so a liquidator can take control. Should there be any proceeds due from the Canadian insolvency process they still would go to RMM shareholders via the liquidator so not much has changed since last week in theory. However it does seem that expectations of a happy outcome have had cold water thrown over them so shareholders should expect the worst.

[didar007] 11/4/2023 22:05

Amaretto1 so what happened with Glencore canada ?

[excellance] 11/4/2023 20:10

I doubt they ever wanted the mine for themselves, just to handle and facilitate it's transfer to connections who are already lined up for a quick "resolution".

[amaretto1] 11/4/2023 19:13

So what you saying..... Newgen end up with the mine ?Or who are behind them

[excellance] 11/4/2023 18:57

So basically the current owners and creditors except Newgen lose everything, and the assets get sold for a penny, to a buyer who can start over again at Ming with the debt wiped clean away.

Newgen may get a nominal payment from the buyer, but there will be costs to pay.

Just watch the mine over the next couple of years and see who ends up making billions.

[excellance] 11/4/2023 18:49

It means delisted from start of trading on 14th April.

[amaretto1] 11/4/2023 18:43

Anyone care to tell me what the latest RNS means ? Baffled