Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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No surprise there’s a raise, but it shows they are still aiming at progressing things.
IMO, this won’t be a quick turnaround, but I’ll hang around for the next few years and see where things go.
At least the directors have invested some of their own money into the raise to show they are taking risks alongside existing holders.
I assume that there will have been a presentation to the investors which will show them their plans - hopefully, we’ll get some PR from the company soon laying out their plans for the rest of 2022.
Directors have put in £80k and will take double that in wages from the other money in the raise
As they mentioned: "Over the last six months the focus of the Board has been on progressing the deal pipeline. Screening and due diligence has progressed and the Company is now focused on a select number of potentially value accretive deals with an emphasis on proven resources that are intended to provide immediate and sustainable cash flow generation.‘ Great as this is a clear indication in my mind that a deal will happen. A small asset with some cash flow and upside potential would be great for a company with such small market cap. Time to wait a little more before RTO.
Although not a large raise at current sp probably about right. Interesting to know the cash position after the buffalo failure.
Not invested at the moment but probably will.
Directors cuck in a few quid to pay their bloated salaries, by way of a fundraise, the just reiterated the same old “deal in the pipeline rubbish” nobody! NOBODY! Is selling cheap oil and gas assets in the current oil and gas environment, you could pick any stock blindfolded and it would be better than ADV, avoid like the plague.
Even a small oil field producing a couple of hundred barrels a day of no interest to a larger company would generate about £5 in sales income a year. Regarding an rto. We must have millions in tax losses that can be used in the future.
Anything possible here.
Agreed Steve. Larry and Mark are very smart and will pick the best deal with small production which will wash its cost in a year or so and generate cash flow with little risk. This will be step 1 and other deals will follow and we will gradually re-rate. It will be in my opinion a slow journey up but from such small market cap, say sub £10 even including the RTO raise, the upside from this level could be significant. Enough from me.
Must be worth a few hundred pounds investment here. All or nothing I know but the upside potential could be huge.
Buyer Beware! Careful of posters on this BB who have been puffed into the ADV placing by their brokers.
Beware posters on here who just **** off based on knowing the grand total of SFA.
No-one is saying it’s going to be a meteoric rise from here, but I’m willing to give them a chance. I’ve not taken part on this fund raise, but am willing to let my investment here run for a few years now. Nothing more to lose as I’ve taken a very substantial hit here and I’ve written that off.
But people who post as though they KNOW what’s happening an d giving advice I find are the ones with their own agenda and are full of cr.p.
I think it’s a case if “ you’ve got to be in it, to win it” scenario.
Put any former losses out of your mind completely and think as if you’re buying in fresh.
About £500 will literally get about half million shares.
The difference now is that the actual RNS confirms some intentions. Yes not trustable I know but worth a small punt
But you must form tge basis that any money can be lost - but we should be used to that by now
RNS is clear, this cash raise is to allow them to pursue deals and do the necessary paperwork. more raise will be needed to close the deal should we arrive at that juncture. might take a small punt.
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"The net proceeds from the Placing and the Intended Director Participation, combined with the Company’s existing cash resources, are expected to provide the Company with sufficient working capital to enable it to select, negotiate and pursue an acquisition that would be considered a reverse takeover under the AIM Rules for Companies and specifically fund the required legal, financial, commercial and technical due diligence, including the preparation of the required Competent Persons Report and Admission Document to enable the Company to undertake an acquisition. Any cash consideration which might be payable to conclude an acquisition will require further funds. There is, however, no guarantee at this stage that any acquisition will be completed."
and I sold...shortest hold ever... hahaha