Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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On this occasion I think I am likely to take up my allocation and support the offer. Like probably many others, I feel too committed to sell now at a substantial loss. I don’t doubt that the enterprise will ultimately succeed in some shape or form going forward, there it is too much at stake politically for it to be permitted to fail. My principal concern is that JW has continually overstretched his ambitions and as such, at some point the enterprise may well run out of cash and fail. As shareholders we are then left with next to nothing as the assets come under new ownership and control, at a considerably knockdown price.
I think that next time the BoD should not make decisions based on what politicians say they will do. At the time of Appledore purchase are illustrious Prime Minister was at the Shipyard making promises of work to come. Nine months later still waiting for him to make good on his promises. If HMG had kept to its word I doubt that this placing would have been necessary.
Taking all the information that I have been able to verify I am now of the view that this is a buy due to the long term prospects. For personal reasons I am not taking part in the open offer.
jfk9- I'm not putting any more in, not to be in the same position 12 months later, INFA need to start performing, empty docks empty fabrication yards and an ever increasing payroll. That is probably what the II's are thinking. It is ok spouting "PIPELINE" well after 18 months nothing of any significance has landed, the £26m contract was already there (accept it needed converting).
It is OK for JW and Arun they got there money back and a load of shares. until there is a significant increase in turnover I will keep sitting on my hands, If JW and Arun give the £2m back that's 50% of the performance bond.
The docks aren't empty and neither are the yards. Have you read any of the RNS in recent months or the reports by some posters here who have actually seen the docks with ships in them?
Razor, we have had no release of fabrication work to start until July, and a few ships a month will NOT cover the running.
The main requirement here is FID for the IM project that should inject transforming revenue into the group and we can not wait till the Autumn IMHO