Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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I've been through this process with GDP and as far as the accounts were concerned it all worked out OK. Power cuts effecting operations were a different matter and for a different Board.
In the meantime quite happy with the low PE and conservative value. With a P/E of 2.5 price of 50% NAV and seemingly large reserves and resources lasting at least 10 years with a steady if unspectacular profile of steadily increasing production looks interesting. Yes the jurisdiction is not up to Western standards but if that's your priority then try ScotGold. Ha ha
When do you think the share price recover ? This share never seems to go up just a long term down trend the directors are bunch of cowboys , where iare the ramper s now gone back to their caves I suspect . Baldie only comes out when good news is out ?
Notice how this has been released on a Friday ?
Very sly .
You make a reasonable point. Don't expect a fast recovery and other things can get in the way neutralising the good news of audited accounts finally being ready.
There's always a danger that with a large family shareholding they use the company as their personal piggy bank. However from my cursory look through RNSs and accounts plus the 30p fall in the price in the last few days, there is a lot of pessimism already built into the price.
If this comes good it will imo be a slow burn...
Just freed up some cash in my SIPP to add to my ALTN holding
This RNS is a joke on many fronts, not least why they didn't request immediate suspension to have this technical issue sorted by the time trading resumes. Nevertheless I've added £10k expecting a 25% profit within the week.
Hopefully Littlejohn publish next Thursday and suspension lifted on Friday 5th with the sp returning to 150p instantly.
... but we might have to wait for the Coronation holiday on 8th to pass before the resumption in trading.
IMHO everybody invested should add on this aberration
Almost to be expected from ALTN. A brief look at the numbers in the RNS and I was wondering what 'Admin Expenses - sponsorship programme' of £3.654m means....that's quite a chunk of cash not being spend developing the mine.
Hopefully the auditor gives them a green light.
I note the have their AGM in London. Always a good sign when they make some/all execs available to interrogation by the plebs. I'll aim to attend once the accounts are finalised and the AGM called. Note to self - enquire as to the nature of that sponsorship programme...
Adam, I think they are involved in building a school/college in the local town but I'm not sure if that is the answer. I'm sure such transactions have the possibility of making auditors a little 'twitchy'.
The previous auditor ran into trouble with quite large construction projects not covered by a formal contract (or something similar)....I think we put it down to 'that's how things are done in Kazakhstan'.....although the management promised to do better.
RTB . I would not trust these lot as far as I could throw them .bunch of oily cowboys ,
I don t trust them at all , everything they do is lies and bad . stealing cash now ?
Buster - looks like we're back on track !
I'm invested with a few "oily cowboys" as you put it .... not least Maris at HUR and Ciclitira at LVCG who amply demonstrate that the FCA is toothless as a regulator, that shareholders don't really own the company and that scheming BoD members can get away with murder. However I've never got this impression from Assaubayev's ... they just don't want to be diluted themselves by some "oily" VC or outsider. The annual report states the £3.5m was spent on "community" projects at the government's recommendation as a one-off ... greasing the wheels of greasy governments is unfortunately how business works in third world countries. I don't like it ethically but we have to live with it or invest elsewhere. I'm rather more interested in mining tonnage increasing from 527t to 760t in 2023 ... that could see us hit $100m revenue this year.
Onward and upward, the rewards of patiences are coming !