Page 1 of 3 123 LastLast
Results 1 to 10 of 25

Thread: RMC bankrupt

  1. #1

    Default RMC bankrupt

    I just heard RMC went bankrupt (Republic Metals). Uh oh.

  2. #2

    Default

    Valcambi Reaches Understanding to Acquire Republic Metals Corporation.
    https://www.prnewswire.com/news-rele...820137992.html
    Live Well* Love Much* Laugh Often

  3. #3

    Default

    Quote Originally Posted by Mytal View Post
    Valcambi Reaches Understanding to Acquire Republic Metals Corporation.
    https://www.prnewswire.com/news-rele...820137992.html

    Business must be really good if Valcambi buys a company that owes $264M but only has $174M of assets, that is talking about "inventory discrepancies" leading to the bankruptcy. I am just glad I do not have metal with RMC.

    I found a link showing they really did go bankrupt. https://www.pacermonitor.com/public/...ls_Corporation

  4. #4
    Join Date
    Sep 2018
    Posts
    3

    Default

    Quick question...what will be the effects, if any, on the premiums and pricing on current and past RMC bullion??

  5. #5

    Default

    Everything as of now is speculative.
    There is just too much bad blood with RMC over the past few years to say anything they may have minted would behold a collectible status.
    More details will emerge, yet nothing to get excited about...
    Edit 10 oz bars are now .59 over spot
    Last edited by Mytal; 11-06-2018 at 03:40 PM.
    Live Well* Love Much* Laugh Often

  6. #6

    Default

    Quote Originally Posted by Mytal View Post
    Everything as of now is speculative.
    There is just too much bad blood with RMC over the past few years to say anything they may have minted would behold a collectible status.
    More details will emerge, yet nothing to get excited about...
    Edit 10 oz bars are now .59 over spot
    What is this bad blood?

    The one thing i heard is about theft and an employee was mentioning years of pilfering of material. They have a Depository where people can store metals for safekeeping. The issue was an audit uncovered a big discrepancy between what was reported and what was at hand. This caused banks to halt and ask for money.

    This is why I do not recommend storing your bullion in someone elses vault.

  7. #7

    Default

    Quote Originally Posted by Mytal View Post
    Everything as of now is speculative.
    There is just too much bad blood with RMC over the past few years to say anything they may have minted would behold a collectible status.
    More details will emerge, yet nothing to get excited about...
    Edit 10 oz bars are now .59 over spot
    What is the bad blood?

  8. #8

    Default

    Quote Originally Posted by Phronesis View Post
    What is the bad blood?
    you will have to search in to the mining of the past. there was much bad use of labor in the mining of materials and the issue made presidence some years ago.
    for me to bring this up again may breach forum rules.
    Last edited by Mytal; 11-06-2018 at 07:49 PM.
    Live Well* Love Much* Laugh Often

  9. #9

    Default

    is this formerly NTR... same company different name and the bull**** follows them? i lost a lot selling ntr bars for 10% under spot when all of the bad press hit with ntr. i did not know what would follow and wanted to get rid of about 200 of those 10 ounce bars i was holding and traded for eagles instead
    Last edited by maxwellsilverhammer; 11-06-2018 at 09:06 PM.

  10. #10

    Default

    Quote Originally Posted by maxwellsilverhammer View Post
    is this formerly NTR... same company different name and the bull**** follows them? i lost a lot selling ntr bars for 10% under spot when all of the bad press hit with ntr. i did not know what would follow and wanted to get rid of about 200 of those 10 ounce bars i was holding and traded for eagles instead
    Thanks max, yes it was NTR, not RMC I was wrong.
    RMC just had a very huge inventory discrepancy and bad accounting practice which lead to their demise.
    I remember all the hoopla that went on back with NTR

Page 1 of 3 123 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •