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 just hope that our new CEO is able to lift this company to the position it should be.
What I don't like is the fact that The Board announced Hugh's departure (resignation / firing) on the 21st November, when it should have been obvious to most of us that it was prior to this that The Major had lost interest. Yet many posters on here still posted that the farmin could be done before Xmas. . That was never going to happen.
The fact that The Board took over TWO months to announce that fact , I feel was a little deceitful.
With hindsight it is obvious that they knew well before Hugh's demise but withheld the facts for whatever reason.
I just hope that the new CEO can get a grip and drive Europa forward to a brighter future.
GLA as usual.
May be that’s the difference between reading the signs and getting official notification - especially when it may have suited all parties not to find out at that point. Personally don’t mind either way, just want them to appoint the new ceo while there are still things that can be done and before this drift makes things worse.
Actually Tac you're probably right and with hindsight I should have assumed the same.
Again with hindsight normal country entry level decisions would be made as early as Aug / Sep if they work on a calander year budget, although it nay not have been a new country entry anyway but I now have a hunch it was?
Perhaps some latitude was applied to major, making final investment decision due to the "ongoing" politics involved?
All imho of course.
Alwaya better to release bad news after good news. Of course they knew imo.
I'm sure they only officially knew a day or (max) two b4 rns or they would get into a lot of trouble with their respective "financial advisers".
This in theory was the most material news for EOG but really we all sort of knew it wasnae going to happen regardless of what we say now!
I can remember thinking and a lot on here actually commented the Hugh did look awfully uncomfortable on his last video thing. (The channel where regardless of company being "interviewed" they never ask difficult questions!)
Why do you need a new CEO when the past have only delivered heavy losses. This is a gamble company. New directors seem to have limited faith based on their investment in EOG. Kick Morocco into the long grass. Last placing should never have taken place. Last 10 years performance = crap. Over rated / Over hyped. Yes a gamble, but admit a bad choice of investment by myself. Why keep the current BOD based on current performance. If your gonna bring in a new man, then clear the self and start a new.
I don’t think we will get turkeys voting for Christmas, so I would rather go with a new ceo who will make it a full time job and will hopefully show enough confidence and commitment to invest in the company and provide the energy injection and sense of direction it really needs. Then let’s see what type of board we get with that.
I just feel that we have been cast adrift without a CEO. rudderless without a word of reassurance from the Board. Anything would do just to say that a recruitment agency have been appointed and that there has been some positive feedback regarding a suitable candidate. My preferred route would be to employ a headhunter that would proactively search for the best performing candidate to fulfil the criteria for our specific criteria, rather than an agency that has a possible list of candidates looking for a position.
I know that it can be a long process to appoint the right candidate that can take us forward, but in my opinion The Board have got to get this right. There's a certain irony that The Board are looking to replace the very person that engaged them, so in some respects I concur with some of the previous comments here.
Excuse the personal views, but as usual, I'm just one of those that likes to keep this board alive with something to read, however mundane.
The infrastructure of this company is all there and with the right person in control, we can make it happen. GLA.
Tac 100% they will be using professional headhunter for this appointment!
The difficulty is that the previous CEO AND BoD have created such a "mess" that any quality candidates will have to be convinced of the viability of the role rather than vice versa, AS EVER ALL IMHO. If the Inishkea farm out is imminent that would obviously "help" of course.
It's all OK though because certain brilliant researchers have identified a candidate who will triple the share price upon their appointment so we will all be ok when this finally crystallises! Let's hope it ain't after a 100 for 1 consolidation of course!!
Ahem I'll get me coat and as ever DYOR.