Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Such a long wait between auctions, it’s certainly a slow process . £30 a share at the moment. I suppose it’s the seller that raises the bar. I might sell mine for £40 and see if anyone takes. Or shall I wait? Any advice anyone?
Demand exceeding supply on Asset Match.
Of course you would've been an 'original' Stalwart Fossiebeer, but as you confirm just now, you made no contribution to the Forum early on so, having just checked my record at that time, you don't appear. But I have become very familiar with your username since from your occasional posts.
Like you, I too have seen my substantial holding literally "wiped out', valued at zero but still cling on to them in the very vague hope that, since the airline seems to be quite active and seats often fully booked, according to the occasional random check, not to mention the fleet now five after years of the status quo of just three aircraft, then it still has a future – hopefully a healthy one.
Well I bought my first FJET shares 18-Sep-2012 so I think that counts me as an original stalwart, just that I didn't make much comment in the first years of holding as there was a lot of bull being talked about in those years (all of which has tuned out unfortunately to be true!). I'm still holding this miserable share but my holding has but been all but wiped out by the last consolidation. I can't be bothered to sell what I have as I will lose as much in fees as I would currently gain. I think in the longer term Solenta wants to make this a private company, so just to be a thorn in their side, I'm not selling my few shares, they will have to take me along with them, (unless they make me a ridiculous offer for my shares, which they wont of course).
Ah but, respectfully, you weren't amongst the "ORIGINAL" Stalwarts around 2013–2016. (I've just checked an historic list in my files!!) Anyway, I'm glad to hear that you consider yourself one now.
Marksman, I'm the other stalwart! See my post 10th November; and I still believe in Santa.
"fastjet Zimbabwe is to commence services to Hwange National Park and Kariba, commencing in March 2023, the flights will be from Harare and Victoria Falls to Kariba Airport and Hwange National Park Airport."
So more positive news to come early next year and yet still has no effect on the SP, still languishing mysteriously at absolute zero. I think I, if not you, have had enough of my positive take on this company's future, based purely of announcements of any future expansion plans.
marksman; significant shareholder since February 2013! and, possibly, the only survivor of an original group that became known as the "Stalwarts"!!
I dont quite understand this auction. Why, if somebody’s says I want shares at £30, would people seem to be offering them for less money??
I’ve just made my latest occasional visit to the company’s website and quite surprised to see a reference to their fifth Embraer 145 50-seater at the end of their official website directed to newcomers, “Discover the story of fastjet”.
At the moment, I still call that a major announcement considering the number of years we’ve been used to it being a mere 3 aircraft. Who was it who said “Every little helps”?
I just see this company going from strength to strength in what seems to be a very orderly and sustainable, albeit gradual expansion. I'm hanging in for the rise of the Phoenix?
I've seen the same thing. I don't know, but my gut feeling that it is likely to be Solenta trying to mop up all available shares or those that want to sell them given the high price offering, £30.00/share. Hate to admit it, and certainly don't want to lose my money, but I am tempted to get out while this current price is being offered. I'm never going to get my money back on this share, so something is better than nothing; will let you all know what I do.
Just checked asset match a one buyer seems to be buying up any available stock. They keep upping their requirement as extra shares become available.
I am still holding on to mine, is that a risk?
Any ideas ?
so, tomorrow is auction and shares are now for 3000.00 pence ?? what's happening ?? do U think ppl Fast jet will get back on LSE ??? I've read somewhere it must be....5 years since they get off LSE ?!?
Shares last traded on Asset match for 0.03 pence, so the current value is a third of that before the corporate action.
I previously held 3.1 million shares, so if the price would have increased to 1p, they would have been worth £31,000 plus. The price would now have to get to over £100 per share to get the same amount. At pricing the new share at 100p they will stop investment ie people buying, where as while in the pence and below, people may have taken a punt.
Seems to me someone as a plan, now that the airline has survived, the covid crisis and is now making a profit. I expect a forced buy back on the cheap at some stage? Or maybe we are going to get rich on the dividends.
Yes, it does look a tad suspicious, doesn’t it, Fossiebeer I had got my overall average down to £1.30 by mid-July 2018 after the 1 for 26 Open Offer, but the actual share price was £0.08p. Still, I’d be happy with 800p a share! At least, I’d have recovered £1144.
You and me both Marksman. I had managed to get my average share price down to 7p per share, now to even break even the shares would have to be £800 / share which is never going to happen, never!. Looks like a deliberate ploy to get all the other share holders out of the business and with 67% of the shareholding, Solenta can do what they like with the shares, we have all been well and truly f**ked!
So can anyone explain to me, with my shares now worth absolutely zero, the flight schedules still showing no cancellations. Eg: my single trial example – Harare to Jo’burg: “Hurry! 2, 3 or 4 seats left”? Prices from $242 for ValueFlyers up to $342 for FlexiFlyers? As I write “14 people [were] viewing this route”! Looks darned healthy to me still. But then, wasn’t I always the optimist.
Marksman – Original investor of 35,000 shares at 2.86p each on 27 Feb 2013, soon to drop down to 0.69p before ‘recovering’ to 1p on 1 July 2013. Hit a high of 7.22p on 28 Aug 2013 before sliding right down to £1 after second Consolidation of 1 for every 100 on 20 April 2015.
Would appear you are correct. Just checked my shareholding and now I am holding just above zilch!!! They didn't even round up, they rounded down, thanks for nothing FJET!!! Literally!
Going to have to write this down as a loss which I can ill afford but with whats left of my holding, I'm never going to get any value back on this one.
A Consolidation has been announced on Fastjet Limited ORD (FJET.XLON.GB). Holdings are due to be
consolidated, at a ratio of 1.000000000 new share for every 10000.000000000 existing shares held as at
29 September 2022.
Had a shock yesterday when checking my share holdings, had to phone the bank to find find out where my shares had gone. See above.
So, does this mean my 3 million shares, now 300 shares are never going to be worth any things. I thought we were starting to turn a profit, so why was this action taken? Or is it that I do not understand these things?
if anyone from the company reads this, can you please explain?
Thanks
Yep, Im also still checking in every so often, still hold shares, I think this might come good after all one day. Here's hoping....
I check this board out once or twice a week Fossiebeer, so, as one of the original “Stalwarts”, I am one who never misses your excellent posts. So please continue. Still holding a substantial number of shares, and still with faith that the dismal share price WILL begin to recover SOONish. At my advanced age, it just HAS to!
"In the auction that closed on 31st August 2022, no shares traded. The lowest offer was 0.01 pence per share."
Just in case anybody is still reading this board, as promised latest result of auction, no surprises here. Not sure anyone is anymore since the H1 Results post I put up thought might get a reaction, but no responses to that either. Still in the vain hope that I might get me money back one day, I'll keep posting any news I think relevant.
Good luck everyone.
https://www.fastjet.com/upload/RNS%20articles/RNS%202022/fastjet%20Limited%20Interim%20Results%2030%20June%202022.pdf
Profit for the period after tax = US$3.1 million
Things are looking up and if they can get an increase in the load factor from 78% to say e.g. 86%, an even bigger profit for year end looks good.
https://africaseden.travel/new-flights-victoria-falls-to-maun/
http://solenta.com/fleet/
This is interesting, looks like if load factors are low they will use a Cessna, presumably supplied by Solenta Aviation.
I may have to amend my fag packet calculations if the Cessna is used too much!!!