Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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This is a good clear rns imo...finance ok now till end of august..flights due to restart 1st of august...Zimbabwe easing lockdown especially tourism which is a key driver for their economy...many companies suffering from lockdown...every reason to allow Fjet to survive...also no big sell pressure on shares...expecting a good recovery in the sp
I agree. Nice and clear. let’s see how the market reacts, but based on the tourism figures I can’t see them being able to keep flights locked down.
DYOR
I don't believe anyone could ask for a great deal more, given our current climate and what we know about the pandemic in Africa.
The world is still turning, and little by little shops, businesses, factories, tourism is slowly returning. How long for? Who knows, but this will gain momentum as long as controlled measures are applied to the spread of the disease.
It seems the shock wave of the actual disease is leaving Europe, but sadly punishing the West - America / Brazil.
We have been given a slight stay of execution as finances can last until August, which was pleasant to read as I image the Finance Officer has tightened purse strings, but it goes to show they can do it when they can.
And that extra month may just keep us afloat for that crucial time.
Also as important;
"discussions with the Investors Consortium in relation to the Disposal would only restart once the impact and timeline of the lockdowns in South Africa and Zimbabwe were better understood and as such have not restarted."
We all knew negotiations wouldn't start until the business restarted, and why would they want to negotiate an airline business that was about to go under, but at least we know IF the company survives, the disposal is still a viable proposition.
All in all, a positive Rns. The market may not like it, but if you do, and I certainly do, I'll be adding if this dips.
Have a great weekend all.
I agree with you Get_rich_quick. Most of what in the RNS we already kinda know anyways.
We just have to wait and see and hope for the best. Good luck
I think its a positive RNS. As of yesterday funding was going to run out at the end of July and the price reflected that fact. Now FJET say funding is in place until the end of August. This allows more time for:
1. The pandemic to get under control
2. The funding discussions to restart.
I see this RNS taking the sp back to 0.020p