Rambler Metals & Mining Share Discussion Threads

[didar007] 05/7/2023 12:49

No mention of how many parties qualify for p3. any guess how much we can get for rmmc based on current bid situation ?

[vatnabrekk] 05/7/2023 11:20

Sounds kinda hopeful, but not holding my breath!

[jasperthemonkeygod] 05/7/2023 10:49

there you go

[jasperthemonkeygod] 05/7/2023 10:48

Rambler Metals and Mining Canada Limited
Update on Sales and Investment Solicitation Process – Phase 2 Conclusion

July 4, 2023

Rambler Metals and Mining Canada Limited (RMMCL) ("Rambler" or the "Company"), a copper and gold producer, explorer, and developer, is pleased to share an update on the completion of Phase 2 of the Sales and Investment Solicitation Process (“SISP”), which concluded at 5:00pm Newfoundland Standard Time on June 23, 2023.

The SISP was approved by the Supreme Court of Newfoundland and Labrador on March 15, 2023. Phase 2 commenced on May 27, 2023 and included, among other actions:
The Monitor requesting additional information in respect of the Bids from each Phase 2 Qualified Bidder, including evidence demonstrating the financial capacity of each Bidder to execute the transaction outlined in their respective nonbinding LOI;
Uploading relevant materials to the Monitor’s case website (www.grantthornton.ca/rambler);
The Monitor working with the Company to respond to due diligence queries throughout Phase 2;
The Company and the Monitor organizing site tours with Phase 2 Qualified Bidders; and
Reviewing the requested bidder information received in Phase 2 in conjunction with the Monitor, to determine which parties presented non-binding offers with the highest likelihood of progressing to a completed transaction in Phase 3.

The Company and the Monitor are now working with Bidders who have been deemed “Phase 3 Qualified Bidders” to advance definitive offers. The current deadline for binding offers is July 21, 2023, at 5:00pm Newfoundland Standard Time. The Company is pleased to see continued 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.

Once a successful bidder is selected pursuant to the SISP, a further communication will be made to stakeholders.

[amaretto1] 05/7/2023 10:40

Phase 2 bidding concluded Significant interest still being shown from several bidders Process now moving to 3 phase For later July 23 Outcome !

[space_dust] 02/7/2023 20:49

It seems the RIG (action group) bid for the mine has failed, this just leaves their Class Action against the BOD which I understand has been supported by 50+ individuals stumping up £250 each.

My view remains that the only value that may come to shareholders is if there is an auction for the mine from interested parties, it seems at this point there are at least 5 real and material offers.

A number of companies, some listed on AIM, have made suggestions concerning acquiring projects of near term production, maybe just maybe bids will exceed $40m thus giving some value back to investors.

Should a AIM company acquire the mine they may want funding, Rambler shareholders may be prepared to fund via a placing or Open Offer so do not write off the possibility of a re-list.

I would not rule out these companies making an offer PXC, AAZ and CAML.

More info will be revealed later this month.

[leah16] 02/7/2023 20:35

It's a shame that RIG investors were "persuaded" to pay good money directly to a self- styled RIG ringleader as his initial price to be involved in his "bid" (which has now been shown to have had absolutely no substance) which he linked to a "class action" scheme that CANNOT work in the form he had peddled. It's such a shame that other options for investors to fight as a stong, unified group and remove the directors of Rambler UK were closed off by this ringleader. I hope the RIG investors who paid into the bid/class action scheme wont keep their heads buried in the sand out of fear of this individual.

[amaretto1] 27/6/2023 07:12

3 in several bidders

[amaretto1] 27/6/2023 07:10

No ... absolute closed door on that one But ..... 3 deep pockets are in ...Imo Glencore Canada are one of them !

[didar007] 27/6/2023 07:05

Any idea about price ?

[amaretto1] 27/6/2023 06:44

Breakdown ? Lol lol ...... Tik tok

[halland75] 27/6/2023 06:21

No one listen to AmarePoo, biggest Loser.
Here are AmarePoo's losses. This first one is the worst I've seen on Amigo.

amaretto121 Oct - 16:08 - 9 of 69
0 0 0
They can do it again if they want ..
I’ll pick up another 200k plus
The hand that keeps on giving!!!


He got totally wiped out on Atlantic Coal.

amaretto126 Jun '23 - 11:29 - 196 of 235
0 1 0
He lied and the company went bust !!
He wiped out shareholder’s
i was one of them


AGL Losses, buying at nearly 30p in March, kept adding, price now 13p!!!
whoknew123420 Mar '23 - 10:24 - 1127 of 1150
That your 250k buy?

amaretto120 Mar '23 - 10:26 - 1128 of 1150
0 1 0
No ... take a naught off!

amaretto1 - 14 Mar 2023 - 09:21:00 - 978 of 1209 Still time to look at Angle (AGL) - AGL
Just banged them for another 50 k.

Admitted he had got it wrong and lost big on STX and had "mentally written it off".

Massive loser on ENET and DDDD and goodness knows what else!

🤣🤣🤣 What a dope you are Poo!

[amaretto1] 26/6/2023 17:07

Yes it did ..... Several bidders are taking part .... Luckily the RIG group who intended bidding and wiping out the Shareholders who basically paid for the mine ...Are NOT !! So this imo proves they were trying to basically Nick the mine for peanuts... Off us long term shareholders !! Makes me actually feel sick ...I'd like a reply from one of them on here, to the contrary....... ???

[jasperthemonkeygod] 26/6/2023 10:49

assume the Phase II of the SISP happened on the 23rd?

[pensionplanner] 09/6/2023 08:38

space
No the only way shareholders will receive money was by removing the limited liability status which under the circumstances is achievable. That way directors are then personally liable to shareholders and others as there were so many questionable actions and even shareholder notification left a lot to be desired

[jasperthemonkeygod] 08/6/2023 09:20

the vote opting for voluntary liquidation didn't go their way

not sure what happens now

[space_dust] 06/6/2023 06:13

The only way shareholders might see some money back is based on the value of any bids for the mine, the process is ongoing and all parties are under NDA's. There have been no leaks which is exceptionally unusual.

RIG appear to have made a bid, the Monitor has implied there has been decent interest, the question is at what level of monetary size are these bids?

Post all the shenanigans it would have been inconceivable, in my view, for any bid to be under $100m, my bet is Bradbury (RMM CEO) was bulling up the value of Rambler last summer in the hope of a bid from the Chinese or ANother. It did not happen unfortunately.

Some have suggested that a bid around $50m might bring some return for the shareholders but there are caveats. If a bid of, say, $75m came in it should deliver a return for certain but hard to say how much per share, it is pure guesswork.

One thing, I feel the members of RIG are rightly very bitter about statements made by the company (the Bradbury interviews) and their Class Action is more about revenge than the possibility of a monetary award, time will tell.

I tend to agree that throwing good money after bad does not make much sense, IF a minority group actually won a negligence action against the BOD resulting in a cash award (Directors have indemnity insurance) then this award could be challenged by third parties.

The next news is key, how many parties have bid and how many will move into the next round of the process, for shareholders there needs to be at least three, RIG will cut out investors outside their group and we know they have bid.

[pensionplanner] 05/6/2023 23:49

Newgen were only the administrators of the loan it was not necessarily all their money, if at all, as there were person(s) anonymous who Newgen were acting as administrators of the loan to RMM. I believe you will find it in the contract for the loan I posted ages ago.

[amaretto1] 05/6/2023 11:00

Clear as mud.......Something is very very suspect going on Space ... totally 100 percent agree !!

[leah16] 05/6/2023 09:15

The RIG "class action group" is basically a group of (so far) approx 65 investors who have contributed funds into an individual's personal bank account. It is not a legally viable class action structure and the process must fail. These contributions thave also been linked into an apparent "bid" for the mine but the contributors don't seem to know any details about the bid to which they have contributed or how their funds are being allocated. These RIG contributors are throwing good money after bad and they will presumably realise this in the coming months. In the meantime they are sadly cutting off the chance of more suitable options to recover losses (if at all possible) in the Canadian process and removing the culpable management team.

[space_dust] 04/6/2023 18:16

RIG seem to be on a sticky wicket if rumours are true that they propose to cut out all shareholders from benefitting from legal action against the BOD except their members.

If the BOD are found to be negligent in the Courts then all shareholders have to benefit, something the group seems to ignore, third parties could challenge RIG and demand a cut of any award.

Very strange a group purported to be acting for shareholders want to cut out the majority for the benefit of a minority.

[leah16] 04/6/2023 16:44

If you post unpleasant comments which include the word "you're", at least you should learn how to spell it.

[mhard1000] 03/6/2023 11:55

Thanks excellence, appreciated.