Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Trading makes it look likely, certainly reminiscent of the past, the price has been dropping now every day for almost 20 trading days, 2p placing would be about the normal discount. from this position.
Ignore Heron, it has been pulled out of the draw as the matd play every year for about 5 years or more as the company thinks up new catchy titles for the next failed drill and the next placing to support the next.
This wise owl is doing you no favours being on others forums, all he does is create discontent and volatility for your share, he places the spotlight of Matd's failings for the world to see and likely he'll help drive your share price down.
No so wise is this owl.
Yes ignore Heron, it hasn't done anything since it was first drilled, in fact it ONLY found oil because it was drilled into someone else's find on the border of the Chinese asset, land disagreements, government disagreements, tribal disagreements, and dependant on the good nature of the Chinese for a route to market (at what cost). Money running out again and likely needs more funding, then weather problems etc etc this will be the same story next year, as it was this year and last, and the one before.
Matd has nothing except placing after placing, how many raises now, certainly into double figure and not one barrel of oil in 15 years, what a wise owl indeed.
Like I say Heron should have been named Stegosaurus, slow and clumsy
No wild cats here mate we have found oil and about to produce once we get out permit, we will get permit Al agreed up on just need admin to clear,
Produce in the millions and soon to be self sufficient so at this price pure bargain, people can't see it yet but market wil wake up and cause a storm
Wise owl speak with fork tongue.
MATD heap big pile of doggy doo.
He need more firewater.
Securing LP is the key.
When we get it rerate will follow.
Till then we are where we are.
If fund has released MATD should inform us.
That would help confidence back.
Now THESE posters are derampers WOS.
Are you able to spot the difference between them and concerned holders?
Yes, I think a placing is likely here soon, no guarantees but 20 days straight drop in the sp seems to point to it.
Laguele, I was being kind so as not to come across as a deramper, thus my 2p placing target, however yes I agree with you getting a placing for a company struggling is going to be hard, particularly as the reason for it can not be the same as the last few already used, but I didn't want to say what it might be at.
WOS do you think you were a wise owl going over to other forums to antagonise their shareholders and whilst trying to do so, start ramping matd.
Has it in fact not actually just provided reason for many to come here and highlight all the problems that Matd have and why the company is likely to ultimately fail after expending its last attempt at a discounted and dilutionary placing.
Do you fail to realise that some that do not post on here do so as they are not invested, why because they know matd, they know Mike Buck, they know petrovis and they know the environment and knowing all this, they know not to invest in matd.
No need to reply it was rhetorical.
"I think people are right when they say COPL shareholders are most vicious ones on ANY board"
lol good English saying uses the terms pot, kettle and black you annoying, cross ramping, vile lowlife. look up the term Schadenfreude
Why won't you discuss a possible placing here WOS. Do you think Mike Buck knows how to do placings, does he have great experience in MATD for doing this.
Sorry placed on wrong thread
Lol fact is fact and that is cash balance, these have been clearly stated, we don't need to guess we know the cash available.
In fact its actually worse than I stated, as indeed it's not all actually cash, indeed as of 30 June 2023 the cash balance they reported being USD 8.39 million, this was infact only $820k in cash the rest being in 3 month term deposits.
In terms of future planning, cash will already be precarious when you look at the burn rate. Placing will be at under 2p is my guess, maybe considerably less.
Wos some cash facts. February 2023 they raised 6.6mln @2.5 while they still had around 5 mln in the bank.
June 2023 company report 8.3 mln cash.
Burnrate around 3-4 mln per year without any investment... so now close to where we raised last time AND they need funding for renewables....simple
Bump (sorry but I thought it might move some of the silly icons and make your thread look more professional)
Lol fact is fact and that is cash balance, these have been clearly stated, we don't need to guess we know the cash available.
Matd had 5.1 million in December 2022, raised another 6.6 million in Feb 23, so almost 12 million and was down to almost $8m only 4 months later. their numbers not mine.
6 weeks I'll give you before another placing, if I was matd I'd do it now before the SP is much lower and the dilution thus greater.
In fact its actually worse than I stated, as indeed it's not all actually cash, indeed as of 30 June 2023 the cash balance they reported being USD 8.39 million, this was infact only $820k in cash the rest being in 3 month term deposits.
In terms of future planning, cash will already be precarious when you look at the burn rate. Placing will be at under 2p is my guess, maybe considerably less.
Professional burn rate far higher than that. look below.
That period included velociraptor drill and sunstepp JV . 1.5 MLN total.
I am being generous and excluding investments
Done the research, ill let you pay the depreciation thx.
Better, would be to sell now before they drill for any more water (actually that can't happen as they have no cash) or dilute with another placing (that will happen).
Will pop back on placing day as I know you like to discuss on down days
This is the sort of publicity needed
The team of the project to establish an oil refinery has delivered donations to the herdsmen affected by drought.
The entire team of the "Project to build an oil refinery in Mongolia" has joined the campaign to help the cattle herders who are suffering from the drought due to the severe winter and spring in Mongolia.
"Megha Engineering and Infrastructure Limited", "Engineers India Limited", "Kalpataru Projects International Limited" from China, "Megha Engineering and Infrastructure Limited" from the People's Republic of China and "Norinco" from the People's Republic of China enthusiastically joined the call of "Mongolian Oil Refinery" SPCSC and the project implementing company. International Limited" companies' donations were combined and handed over to the Governor of Dornogovi Province today.
1000 bales of hay, 10 tons of fodder, 240 tons of flour, or a total of about 50.0 million MNT, are being donated to support the herdsmen to overcome the difficult times with minimal losses.
In Dornogovi province, there is a situation of iron rust in Ikhet and Ergan sub-districts, and in Delgereh, Airag, Saikhandulaan, Altanshiree, Sainshand, and Khatanbulag sub-districts, 168,000 livestock have died.
The Governor of Dornogovi Province, O. Batjargal, said that this donation from all of you will provide a lot of emotional and material support to our herdsmen to overcome difficult times.
Megha Engineering and Infrastructures Ltd
Engineers India Limited
Norinco Corp
Kalpataru Projects International Limited
Master, it is a good idea however the problem seems more likely finance ministry hasn't released the fund yet!
The 'supportive' government hasn't been supportive!
WOS - well done today. Because of you the board has been massacred today, and rightfully so.
Maybe learn a lesson, and leave the other boards alone.
WoS back on my filtered what a 🔔 end he really is
Not often I agree with Doc, but he's spot on WOS. Also, stop posting here until after an RNS is released!!