doc-lee
31 Jan 2015
Re: Really? r21442,You are quite right to be sceptical about management. They have known for some time that grades of ore were dropping (it was mentioned by Norman Williams in his interview on 9th December) but the general tone of that interview in both the short- and long-term was bullish with nothing to suggest anything as serious as lay-offs was on the cards only 7 weeks later. The gist of his talk was that the company was out to show the market that they were in it for the long term. All very good, Norman, but what's in it for the investor if all you can deliver is long life but no returns either in the form of meaningful dividends or a return of the SP to what analysts are expecting, ie in the 50s. Jam tomorrow but no jam today - now which other organisation was promising that to its population back in the 1930s?? I can only hope that Mr Williams is not one of those shysters whom my old grannie described as "All mouth and no trousers".They must have known that the price had nowhere near bottomed out, otherwise we would have expected to see those well-informed insiders to piling into the company when the SP was in the mid to low 20s, at what outsiders thought were very reasonable prices for bottom-fishing. More fools us!!What worries me even further is that so far nothing has been heard about Directors buying in even at these grossly depressed prices. It would suggest that they are expecting the price to drop further. A Management Statement might not come amiss to comment on the scale of the fall in the SP in response to their news of lay-offfs etc.As for the suggested buy-back that was aired before the last AGM; now we can see why nothing has come of that. Its much more cost-effective for the company to buy back at 13p a share than at 25p a share. RHPS must be having a good laugh to themselves having advised their readers to get out when the SP was 2 to 3 times what it is now!!!
r21442
30 Jan 2015
Really? They've laid employees off & negotiated shift patterns and have the plans what they are doing with the stopes but only announce all this now? How long have they known all this c*ap?
thehickster
30 Jan 2015
Re: ... 62 grands worth of shares traded and nearly £9 mil knocked off the market cap.. that's some going..I think in future whenever I'm thinking of buying a share because it looks cheap and everything is saying it's a screaming buy, I'll just open a spread bet account instead and go short... Good idea ?Lets face it, when was the last time anyone ever bought a share and it actually went up ?Usually it plummets within minutes of hitting the buy button, but sometimes it can take a few hours or even a day or so.
thehickster
30 Jan 2015
Re: ... $6.5 mil in the bank doesn't seem a lot for all that supposed profit and cash flow for the last couple of years ( or is it just over 2 years? )Was it really worth it ? And how long will that last even though they are telling us they are still cash flow positive... doesn't seem to equate to much and something doesn't add up.All the tens of millions spent to bring this mine into production again and it's barely generating any money... why would you bother ?Nice to keep management etc in a nice lifestyle I suppose...
1947MGTC
30 Jan 2015
Re: ... Hi Doc,Thanks for the cheery message.Its probably just a cunning plan to get us to part with our shares at a knock down price!!!!!!!!!!!!!!!!!Nothing really to worry about (as long as it's not actually YOUR money, that is)Stevie
doc-lee
30 Jan 2015
... & a Happy 2015 to All Our Readers!! A perfect opportunity to buy some shares on the cheap!!
city watcher
30 Jan 2015
Cantor Fitzgerald still bullish This has been updated today ........................................................ Also just had to top up by 4K.30 Jan 15 Cantor Fitzgerald Buy 14.00 50.00 - Reiterates[link]
doc-lee
23 Jan 2015
Re: Share buyback or dividend Hickster,At these deflated prices and with the company having a healthy positive side to its balance sheet, I would strongly support a significant buyback. As for a dividend, even with my jaundiced view of the company's present management I might be tempted to take it in shares, especially if they were offered at a meaningful discount to RMMs current low SP. Ideally these shares would already be held in the company's treasury or were the result of a buy-back rather than from an issue of new shares.At the very least, it would be interesting to see what effect it might have on the SP.
thehickster
22 Jan 2015
Share buyback or dividend Would be nice.... anything.... at these low prices they could buy back a lot more shares for the money too.....Has Rambler ever been lower ?Since they paid the debt off and started building up cash the price seems to have only gone one way....I'm guessing the world doesn't need gold or copper any more ? Bit like oil...
oldernowiser
20 Jan 2015
IC tip from Piotroski screen Apparently a high risk screen (there's a surprise!) IC includes RMM in the selection for 2015 citing low rating ref peers, production already happening and possible upgrades to the scale of the resource to be reported on mid 2015.(Don't ask me what Piotroski is!)
doc-lee
20 Jan 2015
Re: Swiss Franc Uncouples from Euro Thanks for that, Hickster!I think I'll just go outside and slit my wrists - don't want to ruin a perfectly good carpet - after all, in this financial climate every little bit helps.
thehickster
19 Jan 2015
Re: Swiss Franc Uncouples from Euro Sadly Doc I don't think life on AIM works like that.Commodity prices rise = no rise in Rambler.Commodity prices steady = drop in RamblerCommodity prices fall = sharp drop in Rambler.As you can see there is no scope for making money going long. ever......I can remember when profits, cash in the bank and proven reserves were actually worth something... Yes I'm that old....To be honest I think they are just trying to beat PI's into submission and then take the company private for a song or some deal with one of the II shareholders....
doc-lee
16 Jan 2015
Swiss Franc Uncouples from Euro According to the BBC, decoupling the Swiss Franc from the Euro resulted in a 9% fall in the Swiss Stock Market as investors headed to German bonds and GOLD. Figures from the London Bullion Market indicate that since the decoupling yesterday (Thursday) morning, the price of gold has risen by 3.4%. Yesterday's "Business Insider" trumpeted that by yesterday lunchtime the price of gold had risen by 2% and included the prediction that 2015 would be a good year for the metal. thus:"Business News, Thursday 1.55pmGOLD IS HAVING A HUGE DAY On Thursday, surprise is the theme dominating markets, as the Swiss National Bank shocked markets early Thursday with a decision to no longer target an exchange rate of 1.20 against the euro for the Swiss franc. This decision sent currency markets into turmoil, as the franc rallied sharply against the euro and the dollar after having weakened of late.But the biggest winner on Thursday has been gold. Near 1:15 pm ET, the price of gold was up better than 2% to just above $1,260 an ounce, about $100 higher than its most recent low. In a presentation on Tuesday night, DoubleLine's Jeff Gundlach spoke a bit about gold, noting that while everyone has been talking about how much lower gold can go, the precious metal actually had a decent year in 2014, actually gaining ground in most currencies except the US dollar — the world's strongest currency last year.Gundlach expects that gold will have a decent year in 2015, and gold is certainly off to a good start. [end]"After another 2.4% fall today in RMM's SP (to 20.00) might we hope to see a slight rise in the SP (rather than an inexorable decline) as the gold price rises and RMM responds by increasing its production of that metal .. or doesn't life work like that?
thehickster
15 Jan 2015
Re: Todays drop One saving grace is that Rambler could have been hit harder these last few days with the big fall in the copper price.I suppose the money in the bank offers a little bit of protection as does the price of gold holding up reasonably well...
1947MGTC
15 Jan 2015
Re: Todays drop Ha, Bl**dy Ha!! Excuse me for laughing, Uphill, but that's exactly what I did when RMM plumbed the new (for then) depths of 26p.My reward for such astute bottom fishing resulted in yet another purchase of RMM shares which have plunged in value, this time by 19% in a few months. I'm now sitting on a cumulative loss of £6000+Do you think that there is anybody alive at RMM HQ or doesn't anybody there check this site occasionally or is it that they do but just don't care? Like KarlMar5, I'm less than happy with a company which I once admired and, consequently, trusted to do the right thing for its investors. More fool me!DOC LEE Yes a classic picture of PIs investing in this company and other Aim shares. I share your grief being in the same boat having averaged down over the years. Now looking to off-load whenever I get close to a previous buy price. The contradiction is that to the best of my knowledge, Harry Dobson(previous Chairman} has a holding of over 300,000 shares bought at over 30 pence. Unless I've missed it, he hasn't sold out.Yes it's about time that the BOD showed some interest in the share price and tried to redress the slide. I too had a lot of belief in our Board but that has worn very thin these last couple of years.Difficult times for all mining stocks and at least we are still profitable and things may improve. Looking on the bright side, it's still trading at two thirds of my buy price. Henderson also seem to think its worth having at these prices -current holding is above 22%. Makes me wonder - but then again, I've been doing that for a long time now!!!GLAStevie
