Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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The Company confirms that it is in discussions regarding a potential acquisition which, should it proceed would constitute a reverse takeover under Listing Rule 5.6.
Good news ! If it’s the RTO I’m hoping for we will do very well out of this . Around £400,000 for a RTO someone wants a quick route in to the market either way
I have initiated discussions regarding a reverse takeover for Shell, BP, Tesla etc etc But there is no guarantee that the takeover will be completed. You can write what you like in an RNS so long as you add a disclaimer.
Reckon this will fold now they have fabricated a little rise to dump what shares they had left.
Will be interesting to see if the suspension is lifted.
Trust nothing with ICONIC LABS !!
Sinden888
400k on top of the 600k current MCAP did you mean??
The FCA should now lift the suspension as they've had clarification from ICON.
From the suspension notice .......
"The Financial Conduct Authority ("the FCA") temporarily suspends the securities set out below from the Official List effective from 28/02/2024 16:00, in order to protect investors pending clarification from the company:"
This could rocket on the suspension being lifted ;-)
GLA SR
Well done anyone in at that 2p... wish I was lol
Good luck all here and it will be nice to see some AIM good news for a change
Thanks Neil! Nice to see a pleasant post from a friend to that of Davey/rick
Sun den who is the RTO you speak of?
Mo problem GB. I didn't know you were in here. Bravo 👏
It's normal human nature to be happy when others do well.. especially I guess if you do OK at the same thing yourself.
It's only that toxic cesspit of jealous folk on HE1 forum that could never congratulate us lol
Neil, main market , not aim. X
Awww OK
With the SP down 92% in 365 days even after yesterday's 150% spike I assumed AIM lol
No problem,every one thinks the same. X
Well thats another stock potentially tied up for some time if its an RTO.
X2 RNS seems to be all over the Market ATM, and not just us''
ALL OR NOTHING LOL!!
The Financial Conduct Authority ("the FCA") temporarily suspends the securities set out below from the Official List effective from 28/02/2024 16:00, in order to protect investors pending clarification from the company:
That bit about protecting investors which was released yesterday by the FCA is the only part I'd be slightly concerned about but hopefully it's just standard in these scenarios
Agree Neil unfortunately the art of being polite is something few on here know.
What’s the next steps here then? Am I right in thinking RTO’s take 2-3 weeks to complete? Obviously we haven’t had the confirmation it’s agreed yet so what do icon need to do now to have the suspension lifted? I wouldn’t really class talks as a cause for a suspension… can name dozens of companies in discussions! It’s part of their strategy for Petes sake.
Not always….look at WRN they never came out of suspension.
Standard practice GB, suspended until deal completed , could be weeks/months/some more, then its completion of the final two parts of IPO, with new prospectus to FCA (2-3 Weeks if in order) then 10 working days application to the Exchange to return to market.
To the deal Unlimited time
Back to Market 4-5 weeks
If an RTO drags on its down to the companies, no one else, e.g. are they actually in late stage talks, will the paperwork to the FCA be accepted first submission (or like some thrown back a few times)
Some never get a deal done, or get approval, ICON and the target companies paperwork/results/audit, have to be up to snuff, or it gets ping ponged for additional info requests, until it is, or no approval.
The Market is the easy bit, once paperwork/Prospectus cleared, its a mandatory 10 working days process.
"Protecting investors." Was of concern to me at first, but I think the FCA (Actually doing their job) were covering for the lack of communication from ICON.
This can go either way with talks for a possible RTO. It either materialises or the company eventually folds.
It could be a lengthy process or it could be that they have been in talks for a while.
Hopefully, this turns out good as I have lost alot in the past with this lot. GLA
GCG which attempted an RTO, did not happen then quickly moved on to another target, it suspended for new RTO 6 months ago, pretty much silence since other than Dec rns on finance and comment rto proceeding as anticipated.
Been in 50-60 probably over the years, some very quick , most 4-8 months, a handful longer, 4 never came back, two of which are still around and say still trying to get back to market, one taking a percentage not all of Transgas as planned with a move to Main Market vice original AIM.
Bradda Head Lithium only recently returned, thought it was long dead and buried, then suddenly opened back up in my bottom draw.
Lots of hurdles to cross but the first and most important, is getting that deal in place ASAP, so the return process can begin...........GLALTH.
Disappointing, that they did not do the usual quick response to Mr Markets question asked yesterday, rather than the market pull the plug , pre RNA over rns. Todays a blah, that could have been done, immediately the market questioned.
But its done now, so we wait, how long is anyone's guesstimate. 🙄
Just wondering though, why are we suspended if we haven’t actually agreed to an RTO? It’s purely discussions at this point? How can that be normal practice? We haven’t even entered the process atm
I hope you are seeing the support for you on HE1 mate.
Do you know how long your ban is?
I am trying to hold back but might have to let loose soon lol
That’s a shocker Neil!