Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Atome Off-take is expected shortly which opens the door to debt finance and FID. This should see a sizeable rerate of Atome, would then be a viable business with would be customers, and obviously increase in value MEN holding of 18.8%. Small change in Atome could see big change in MEN at current levels. PL would know this and should have waited why the rush. If he has done the right thing he will have timed the delist to take place after this event. Unsure if this is likely.
The planned IPO of GHC was not well received. Rather than just put it back or cancel although he took the route of delist to cover his tracks and save face. Absolute disgrace sitting in his ivory tower shafting the small PI’s.
Worth remembering PL has a charge over all the Atome shares for the $12m his company IYA lent so for MEN to get anything back the value of Atome must triple what it is now which is possible but something to remember.
On GHC quite clear this market is terrible. Not only that it’s logical one of the factors would be potential investors looking at the market cap of MEN and finding it difficult to match with the IPO value. I’m sure another reason why PL has had enough.
Taking emotions away look at the reasons in the RNS for leaving re the market and better off private.
He’s right. Shares are worth buttons so I’m sticking with it including for two reasons no one has mentioned. If he really wanted to shaft us he could have done Atome privately. Same for GHC. They are unrelated to MEN core business. I too get the emotion but maybe some things get lost in translation
With the value now peanuts, what chance is there that another company makes an opportunist bid. As things stand they’d get a lot for their money even at a 100% premium to Thursdays closing price.
For the uninformed or uninvested I doubt anyone will come in to save the day. PL would pull the plug on the company and take the assets if he ceases to be the largest shareholder or director and will stop funding the company and I'm sure has more get outs than the great escape for stopping money flows from Argentina. It’s in black and white in the circular and from the Argentine sale DYOR
IMHO why poke the bear. He’s still willing to support he says if it goes private and that’s the best chance we have. No mention that GHC won’t develop or it won’t IPO in future. I think the biochar has legs if they get it right. Again he’s always put his own money in and could have done Atome and GHC on his own even if it’s not what I ever wanted it’s a pragmatic choice and may, may just pay off. One thing for sure, this market for small companies stinks GL
He should have tabled an offer of c£3-4m along with the delist. Only a few weeks ago he publicly stated it was worth far in excess of £4m. I honestly think it is worth more than this but he has the lost the ability to connect with the markets and is behaving irrationally. Why gone on Malcy for an interview to drum up interest when he could have gone on Proactive, IG and so on which would have been far more professional received. We expect Atome offtake in a matter of weeks followed by debt finance and FID which should increase its value and MEN. This increase would likely increase interest from value investors in MEN. There is no immediate need or reason to delist now, we have cash at bank, interco is being repaid, we receive £2m in Sept this year and we will keep receiving income for 5 years from Argentina sale. He could have delayed GHC IPO for a year while he it’s tech matured and/or looked at the NASDAQ. He has chosen to delist now as he is embarrassed the GHC IPO did not go as planned and he will appear a failure. It just doesn’t make sense what he is doing.
Would add to this after 5 years we are likely to be getting a dividend from Atome which will start production in 2026. It’s a self sustaining business as it stands.