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Yeah I think you'll want to wait for the dust to settle on that one Sooty. With the amount of shares being printed RR will be in double digits for a very long time. And if we have another 6 month lockdown they'll need to be printing twice as many shares at an even lower price to keep the lights on. That capital raise won't last long. RR is even more exposed than oil companies.
Shell and BP also looking cheap, but falling knives and all of that
Sooty
Jaysus, RR could have further to drop, it will be an interesting few months. Sub £1 likely IMO
If anyone is interested or has any real iron ore investments, this might be of interest:
https://www.mining.com/iron-ore-price-jumps-5-after-vale-suspension/
I think you'll be complaining about the SP over there sooty if you go into RR before the dust settles :) That stock is going to double digits and I wouldn't be surprised if it ends up in the 60p range.
I agree totally GGG, it’s China or nothing.
Hi Mitch, I've been saying this for ages. I've shared my feelings on the matter in the past, which is RoC has told Zanaga they can only sell to China. The main reasons - only China will develop all the necessary infrastructure (plus additional) to push them out of the dark ages, plus pay all the dodgy f@cks in government. Western companies will only develop infrastructure to service the mine. So the port will be smaller, power plant will be smaller, no SEZ with steel mill etc. They also cannot pay-off government officials in the same way as China does. It's the reason why we've only heard 'China' out of the mouths of AT and co. They've never spoke of FMG or Vale who also bid on Simandou. Why...? Keep in mind that RoC owe more money to China than anyone else. That's a lot of leverage right there as well.
So until China is ready to make a reasonable offer we won't be going anywhere. Hopefully we're not too far away from that now. It's why I keep telling myself they're only raising enough to keep the lights on for a short period of time. And why they're paying themselves in shares, and not participating in a raise or buying on the open market. Why risk such a huge deal. I only hope that if / when an offer is made they're immediately put into suspension and anyone who isn't in the company simply gets to look on from the sidelines wondering what could have been.
Overall I'm with G_G_G on this. It will pay off one day. There are too many people directly involved in the company (including AT) looking at a massive pay off if/when it does. Plus a huge amount of Africa and mining experience amongst them too.
My main puzzle is why we have not declared an intention to sell and gone to sealed bids, as Simandou did.
C'mon guys, take a look at our senior mgt team. It's one of the reasons why I'm invested, alongside the resource, and the fact we have Glencore as our big brother / protector. Senior mgt are first class for an AIM minnow. They're simpy waiting for their pay day, which they know will come at some point . We don't, hence the impatience and annoyance. Trust me I feel all of you. I've got 1m shares in this company and every 'non-statement' makes me want to explode.
We are sellers. Simple as that. Glencore could be a reason why we haven't been sold, but only if they're being made a derisory offer. I doubt they'd knock back even an average offer given their current predicament and need to pay down cash. Even if the project was sold for $2bn (my idea of an average offer) it would still be a sizeable chunk taken off Glencore's balance sheet. Glencore aren't idiots. They know IO has cycles and they know they have an asset that could easily net them $2bn if they play their cards right in this current environment. What I do know is they're probably the only reason there hasn't been a smash and grab done on this resource. Having said this, I imagine even the dodgy f@ckers of RoC are getting annoyed at the time it's taking to sell this asset. They need their cut too remember.
So to all holders here, I feel your pain. Even I'm regularly thinking of cutting my losses and selling down. But then I think of the resource value, current political environment, IO prices, it's shovel ready, and the steps made recently in opening talks with Chinese entities. All this makes me think we're a hell of a lot closer than when I first invested post enviro permit being awarded. So why sell now...?
The boy that cried wolf springs to mind.....even the P&Ders need some meat on the bones to hype.............the Chinese interest jargon has been regurgitated to exhaustion....maybe we could say we are ‘considering’ a covid cure.....that might give us a last buff to get out
Bring back the old P&D days I say, at least our SP moved in the right direction, often exceeding double digits.