Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Once results are out and close period over I would expect management to be buying stock with it trading at these levels. Lets see! If I was a board level director at Essar I would also be having a conversation with GEEC about buying the company. Never going to happen with Modi family majority shareholding but synergies are up for grabs by integrating field development plans and Essar could offer a heafty premium with the shares down here and still make a very significant return. Hopefully more to be revealed on Nov 7th or shortly after.
Troy,
Thank you for the information and your thoughts.
I took a very small investment here of 13,000 shares as I thought that the current market cap was good value when measured against the balance sheet NAV.
I will add when funds become available.
I don't see this going private though. The directors here already hold so many shares. It's as good as private anyway. They have total control with their combined holdings. Yes They may top up a few more after the results are out. I think they are pretty rich anyway and the UK stock market listing is about more than money. Prestige for them. Kudos etc etc. That's why I think they will keep the UK stock market listing.
All the best
Party
Totally agree 60p. I don't for a minute think that GEEC would sell, or even get approached given the controlling family interest. Hopefully though they are exploring opportunities for synergies with Essar on exploration and field development. And also agree that the London listing is much more about kudos.
Best of luck with the position. I have been here for a long time and have collected a reasonable sized stake already - which is now underwater with the recent share price plummet. I will be topping up if I get the chance after the results this week, (but the bid offer may have moved nicely up by then if there is some positive 'new' news - -lets hope so).
Troy,
Not long now for 7th.
Hopefully Thursday will cause a re-rate back up again.
The market always overshoots on falls and rises.
The recent big fall seems to have been caused by a large 1m+ share sell . Maybe a fund/institution off loading. Not prepared to wait any longer . They set target prices and timescales. Looking at the sells recently they could still be offloading. It should rise again fast when they finish.
All the best
60p