Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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What are the institutional investors doing here. Surely they should be jumping up and down demanding more meaningful info. When are the reserves data due out? I cannot believe that the main owners are not milking the business in some way to extract a return for them with no regard for the minority shareholders but what can we do!!! Lets hope that some kind of meaningful offer is made by Khotin et al so we can all move on soon.
They don't want to develop the company through a stock market listing , that is very obvious. They want to acquire the reserves for their own preexisting oil companies. To try and predict the actions of Russian oligarchs is often futile. Khotin will want to obtain the rest of the share issue for much less than the price he paid for his original stake. He will do this in his own time and when it is financially convenient for him. It will be interesting to see how far they let the flows rates run down, as they have no interest in drilling. The company is now paralysed and minority shareholders are subjugated. There is very little in the LSE small cap rule book that can stop khotin doing as he pleases. I would not expect the ii to do very much, the company is not large enough for them to care.
Gambier, I read some articles about Mr. Khotin and Mr. Klyachin have a past experience in collaborating over hostile take-overs of factories in Russia. It makes me really concerned, especially after what you wrote about Khotin`s intentions in Exillon. Why doesn’t the British Take Over Panel do something about it?
Because they are not doing anything against the rules. The behaviour of the board over the last six months demonstrates their intentions. They maintain complete silence, have no plans to develop the reserves and are currently putting production into reverse. They don't care about the share price as they consider the company already theirs. There is absolutely no legitimate reason to not have released the reserves update 4 weeks ago as promised by the last board. The last update was bare bones under duress. A takeover will come from khotin at some point, but it will be at time that suits him, at a price that gives him a bargain.