Rambler Metals & Mining Share Discussion Threads

[excellance] 03/6/2023 11:25

Newgen pulled the plug. They have their reasons, but the result is that they get their cash back, probably in full, and will likely get out intact.

Their only other option was to allow the debt position of the company to get worse, and risk not getting their investment back, so they chose the least risky option for them.

Now, if a large mining group comes in, they can use the booked losses against profit in their corporate accounts, plus they'd have access to everything they need to develop Ming, plus economies of scale, and, Ming wouldn't be encumbered by massive corporate costs.

It is possible for a capable and well funded venture capital group to take this and turn it around, and sell it on for a massive profit.

[excellance] 03/6/2023 11:16

You'll have to wait and see what deal can be done.

The priority in this process is firstly for Newgen to get their money plus interest in full, then administration fees, then other creditors, employees, and lastly the current shareholders.

What that means is that any deal has to cover ALL of those other costs before shareholders get anything.

Let's say someone offers £10m, then Newgen get all of the cash but still suffer a loss.

If someone offers £50m it's about breakeven, holders get nothing.

If an offer of £100m appears, they could take up the London listing, but they will dilute to oblivion to get majority interest, existing holders get nothing but their shares still have a little value. Unlikely tho.

Remember, this is a loss making operation, and there's a mountain of debt to cover.

[mhard1000] 03/6/2023 11:03

Then how do we get back what is still left of our share total? At the time of cancellation on AIM I still had a far amount left but obviously can't sell it to get it back. What happens to that amount?

[bsg] 02/6/2023 13:21

Doubt it. We'll probably lose it all.

[mhard1000] 02/6/2023 12:05

Can someone pls explain for a current shareholder - if we get a successful bidder is Rambler likely to be readmitted to the market and will we be able to trade our shares again?

[amaretto1] 01/6/2023 19:32

Dead lines slightly altered ..But in favour of stakeholders imo

[amaretto1] 31/5/2023 19:42

Go back to your Face book RIG group...U don't know what your talking about ....Several independent bidders are going thru the process .....

[leah16] 30/5/2023 15:52

I'm afraid we would need to realise very much above $45M on the SISP for anything at all to flow up to the UK Parent. The correct result for shareholders is that the SISP is given its best value to fairly benefit all existing good faith stakeholders - preferably on a restructured basis so that all of the original shareholders of the UK entity benefit from future returns following the dreadful mismanagement. This is similar to what the 7% shareholder group in Cineworld is arguing in the US bankruptcy protection court proceedings to avoid an under-valuation in that restructuring to suit creditors but where shareholders would get nothing. (See May 25th business news.) This is our best option in Canada if the mine is undervalued and we all lose out. If the UK Parent is liquidated we need a court appointed liquidator under a compulsory liquidation who must by law remove and investigate the directors.

[greekhovel] 27/5/2023 11:30

ALL - news from a fellow who has some knowledge of events.


Understanding is that any bid for the Ming Mine above $45m may return something for the Ordinary Shareholders of RMM.

As of today all bids are in, offers from interested parties had to be received by business close yesterday.

There has been no leak on how many bids (there is at least one) other than some outlets suggesting any producing copper/gold mine should receive significant interest from third parties.

All the above is independent from RIG (the action group) so IF there is a bid which would generate a surplus ALL RMM shareholders may receive a return of X pence per share.

The entire process is outside of RIG's control currently.

RIG have stopped the Voluntary Liquidation of RMM UK, apparently this has annoyed both the BOD and the Administrator Begbies Traynor, RIG want a Compulsory Liquidation as this would mean the actions of the BOD would come under independent scrutiny.

In respect of RIG, it appears they are pursuing action outside of the process, apparently have submitted a bid for the Ming Mine as a stalking horse, if they succeed it is most unlikely all RMM shareholders will benefit.

For the moment, until precise details of how many bids have been put in the outcome for RMM shareholders is unknown - those suggesting there will be nothing for RMM shareholders are incorrect therefore - at this moment of time !

[vatnabrekk] 27/5/2023 10:06

"The Company is pleased to see significant interest in this process and will continue to work toward the best possible outcome for all stakeholders. However, it is important to note that there is no guarantee of success with respect to this process."

[rogsim] 27/5/2023 09:50

Just to add to amaretto1's post:

[amaretto1] 27/5/2023 08:36

Significant interest been shown on phase 1 bidding ... bidders now move on to stage 2 of process....Imo we have several bidders in this early stage .....Next news will odviously be the most important .. due end of July !!

[excellance] 25/5/2023 16:50

No group cares about anyone but the people who they represent. Why should they?
What matters is that they operate within the law, but it certainly doesn't have to be fair.

[amaretto1] 25/5/2023 16:11

If this RIG group was so concerned about the well being of the area and community .... Bla bla bla Like they are making out on FB and discord.Then EVERY CURRENT SHAREHOLDER should have a piece of this mine ...But this is not the case ...RIG Members are trying to buy a billion pound Copper mine for buttons ...Wiping majority of private investors out ... a long with anyone with unsecured debt !!!REMEMBER THIS !!! They are not your white knight.... The have a serious rewarding commercial deal going on at the expense of many !!!

[amaretto1] 24/5/2023 21:59

i hope Glencore Canada blow the RIG group out of the water ....Even if they give ALL current shareholders a just a penny !!

[vatnabrekk] 24/5/2023 21:48

Will there be an announcement to say how many are bidding? And who?

[lekka] 24/5/2023 21:14

Pinched from LSE and via two posters:

Timeline for sale of RMMC

Phase 1 Bid Deadline: Qualified Bidders to submit non-binding LOI’s

May 19, 2023

Phase 1 Successful Bids-Monitor to advise in writing of entry into Phase 2

May 26, 2023

Phase 2 Bid Deadline-Submission of definitive offers

July 21, 2023 Selection of Successful Bidder -Or Auction, if required

July 28, 2023Approval motion for Successful Bid August 25, 2023

Anticipated closing of Successful Bid August 31, 2023

R

[excellance] 22/5/2023 16:55

He's "on the sauce" I think you'll find...

[amaretto1] 22/5/2023 16:30

Bids are in today by 5 pm Those turning up on here recently telling you which way to vote are RIG members....Now what importantly do you think of that ?

[lekka] 22/5/2023 16:18

Understand that no details of the bids are available before Friday 26th May and then may take some time to be made public. Guess your source is an insider?

[vatnabrekk] 22/5/2023 16:02

As I've said before, it needs two or three interested parties to bid against each other before shareholders will get anything. One company putting in an offer will simply pay the bare minimum they can get away with.

[vatnabrekk] 22/5/2023 16:00

Yep, that sounds about right!

[amaretto1] 22/5/2023 15:44

No ... but my source right or wrong ..Is saying Secured debt being paid off ... unsecured and majority shareholders carrying the can and been offered nothing.

[lekka] 22/5/2023 15:29

Could you confirm the terms of the offer?

[amaretto1] 22/5/2023 15:19

I'm hearing news that the much publicised RIG Group on this forum, Have put in a bid for RMM ! But wait for it ..... it will only benefit RIG members if successful .... So the larger private investors of RIG are basically going to over see a complete wipe out of LTS Shareholders ....It's almost laughable.... they have done nothing different than what a loan shark hedge fund would have done. So why have they not included all Shareholders ? But on their positive slant ... they have saved the mine and employment...But they may have forgot the huge asset they have stolen from current shareholders.We will see what unfolds shortly ...