Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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News due
Yes hopefully news soon but one needs to be very careful here as it could be good or bad. We already know Denerius will own 80% of Toral if mining license is approved. The remaining 20% will be owned by EUZ who unfortunately will then have to find another asset to explore….no doubt the 20% will be sold off to fund the new exploration…..so how can this be a strong buy even if a mining license comes through ? And how do investors actually get there money back on a lifestyle company like EUZ ?
In fairness Bricks it wasnt always a lifestyle company.
I think we all knew when it went (effectively) bust and was left with no choice but to consolidate or get licked off the aim that it was going to take a miracle. Up till that point most lived in hope :-)
I sold up once i realised (rather late :-) ) that they had pegged the future on acquiring another asset and as you mentioned, would probably need to cash in the 20% to do that. The problem there is the likely buyer would be the people that owned the 80% so little point in them trying to get the SP up until they owned 100%.
That said i'm sure there will be a small return because the company is uninvestable under this management so i doubt MC would bother now to look for another asset, might just as well wind it up. The driving force was probably LR and he could see the writing on the wall.
It is now Highside. Two part timers in Myles and Daniel running EUZ.
I am lost for words as to how they actually have started DY6Metals and have no value to show for EUZ shareholders. It no doubt will be wound up imho but still fail to see how this will get back to R6.50 when we consolidated as its now 25c on JSE and still over valued in my opinion.
I did a comparison with Orion minerals who have a portfolio of high-quality development and exploration assets in South Africa's Northern Cape, with Mineral Rights including known deposits of copper, zinc, nickel, cobalt, Platinum Group Elements (PGE), gold, silver, tungsten, Rare Earth Elements (REE) and lithium. They are 100% owned and trading at 17c per share. EUZ has less shares in issue though but at this stage it’s difficult to gauge what the 20% equates to without a demarcated mining license. Hence the over value statement.
In addition DY6metals raised 7million on initial IPO at .20 per share. Today they are trading at .04 per share on ASX. Very predicatable outcome I hate to say with our two part time leaders no doubt somewhere in Malawi.
Don't worry Bricks, Crisp's last post said he was buying more at this price so expect the price to pick up soon :-) still waiting at the moment to see a real buy but I'm sure his finger is hovering over the button ...
Maybe DB and the Directors here will follow suit ...lol, would be funny if it wasnt so tragic..
Lucky I still look in from time to time just to clear ups few loose ends - look boys have your fun but try to keep to the facts - just for clarity..... Denarius do not get 80% on the MLA being approved. Conditions following Option 1 (which incidentally isn't completed having not spent $4m and delivered a new PEA) hence as yet Denarius don't yet own 51%. For Option 2 (80%) requirements are completion of a compliant PFS and payment of $2m to EUZ, not a delivered MLA, come on fellas surely given the crap SP you can get your point across without deviation?
I think the point is people are looking ahead to 80/20 position because thats when they may get a chance to get some money back. Nothing much is going to happen and I dont see any new money coming in here until the ownership and PEA/PFS hurdles are complete. At that time 20% is all well and good but until you know ,20% of what, you cant value anything or "do your research"/ invest, thus drive the SP up.
The worry then is what EUZ do with their 20% ? hand it back with a special dividend or just spend it on another 10 year project until the board want to retire.
My personal opinion is shareholders , private or institutional ,will want their money back and not want to invest in a completely new project given the dire history of EUZ, SP management .
DBA are sat about 9p per share they wont want to lose they have backed this too much