Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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CAPEX investment of approximately £250 million to £400 million with a construction period of approximately 3 to 4 years.
I don’t think Mr Market liked this morning’s RNS!
The reaction to the sp makes you wonder if we are living in a parallel universe to the market, we have just signed an binding term sheet offtake agreement with Vitol, although has to be verified, we are in advanced discussions with equity and debt partners to facilitate the project and as we have been told, are in negotiations with a view of keeping a percentage of the project, and managing the project , we then state we are looking at further projects, and then announce that we have indeed found one, and the market doesn’t like it?
My view is that we need to focus all of our resources on Islandmagee at this stage; we have limited funds and a small management team? Surely the emphasis should be on Islandmagee at the minute and nothing else.
I agree that new projects is a sound course of action, but, at this stage, no, although I do agree that if opportunities arise then you have to take them, providing they are the correct decisions.
The sp is now getting beyond ridiculous, JW and the team need to address this situation urgently.
Mr T
Agree MrT, have been saying the same thing.
The valuation here is now ludicrous, the completion of FEED is worth much more than the current MCAP. If as JW has alluded to they regain back costs on funding thats some 120% rise alone from the cash portion of the rebate ignoring all else.
Tidd
I think the market is saying JW is throwing in the towel on Islandmagee, or at least expecting significant delays and the other projects as desperation.
This has been a catastrophe all year.
Why on earth would the market see this as a delay on Islandmagee?
Certainly got 'BIG' plans these boys, and the management to pull it off! Was a holder here when AP et al took over from the former BOD. Seem to have some very good and effective people in the team now. In fact was thinking of coming back in. Sort of remember at that time there were 350m odd shares in issue, now seem to be 1.3bn. No wonder not much SP movement since when I left despite all that has been achieved. And possibly more shares to come according to the todays RNS. I wonder....?
Seems to me like a hedging of bets strategy at Infa now.
Long,
Throwing in the towel!!!
Well recent RNS’s would suggest otherwise, why on earth would you pursue a deal with Vitol for offtake purposes if you were throwing in the towel. Just think about it?
Meeting with Vitol, right are we signing the agreement here are the plans which you have studied ad infinitum this year, all the numbers stack up, everyone happy to release the news of the deal? Yes all agreed let’s sign and release the news!! Done
Oh hang on a minute, Vitol say, Is JW about to throw in the towel? Ah never mind still agree to the deal and sign up!! Oh and by the way also state that Vitol look forward to working with Infa on further projects going forward despite the fact JW is throwing in the towel?
Behave please Longlad.
Mr T
INFA were asked to seriously look into FSRU by a potential equity partner, and they contracted costain to look into it. Well they have potentially done that without all the expenditure, as most permits and permissions have been granted. If INFA did not look into this they would have looked a gift horse in the ass AIMO
5 million were sold prior to RNS- predominantly buys after...Patience needed and that stuff that stops you biting your nails!
Still think the Broker we are ditching has something to do with the sp performance, But history next month!
I think JW was correct to develop any potential business opportunities that cross his desk.
My concern as voiced earlier is that this year has been one step forward and two steps back. The constant delays and missed deadlines don’t have me rubbing my hands in anticipation as we haven’t got over the line with our main project.
I think today’s rns is an insurance policy should plan A run into trouble.
My average is above 1p so I’m hoping things come together.
It's not an insurance policy. The company have stated many times that they will be pursuing other projects as and when they arise. They are also keen on gaining revenues asap. You may have to put this in the bottom drawer for a few years and forget about it. Stop fretting about day to day movements on the sp.
Well put Aunty. I feel for JW, it seems he’s dammed if he does and dammed if he doesn’t!. Good RNS today and entirely consistent with stated aims of the Business. Had I not been on a mountain bike all day in the Dolomites, I would have added today. Will look to do so tomorrow.
I'm jealous you're out on the bike esp. the dolomites. Roll on the infa party!
Aunts
I appreciate what you are saying, but who invests in bottom drawer shares?
Aim isn’t a long term arena to invest in, it’s a market to raise cash on, most companies drown in their own shares. JW implying more shares on the way is spooking holders/investors. If he needs to raise it should be like a band aid, to get it over with, don’t fanny about.
I’ve been here a while and the share price has absolutely crashed, I am not intending to sell what concerns me is I’m not intending on buying.
Fannying about with a 250 billion dollar company? Bring it on :-)
ASOS and Boohoo are aim companies and they aint doing too badly. If only you had put those in the bottom drawer when they first arrived on the scene ;-)
Well weighing down the scales on the other side you have ast, her, pxog, cake, qpp, pfp, prem, prox, chal, tpop..etc....etc.
Lets see how we get on going forward, to date the market isnt scoring Jw s card so favourably
Longlad, point taken but that list doesn't have board members with 6 figures invested bought on market/aligned with shareholders, I don't think even the most unhappy of us feel JW and Arun are here for a free meal ticket/lifestyle company exercise.