Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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My March to March Prediction proved correct once again!
Last year March, and the March before that, I predicted that nowt would have changed here while the zealots were predicting that the world's greatest would finally come through with the funding. Exactly as I predicted. No funding. I was wrong on 1 thing though. Something has changed from a year a go, the SP is 49.5% lower!
Dare I say it? Come March 2025, nowt will have changed here. No plant, no shipment. Just the world's greatest jetting around going from one bash to the next!
Hey Up - the r*cist Foghorn from up north is back!!
Have you actually read the RNS?
All on time then - safe to assume funding will be concluded very soon
$197M activity costs and $217M budget which I assume takes admin costs into account. What about inflation during the build? Does anyone have the answers or have I missed it somewhere.
Tony, the 220 million includes 20 million contingency, which hasn't been included in the cash spend forecast.
Never assume anything, it makes an ASS out of U and ME
Thanks fellas for your comments.
Lewis, Don't believe what Thomas says, China are not loosing money, they have just moved their profit margins Downstream. China operates as a Co-operative one owner, the CCP who direct everything that goes on in China.
Lewis - The wind turbine manufacturers and auto OEMs (to name but a couple of markets) recognise the RE prices as quoted by the SMM are manipulated. They are also acutely aware a supply crunch is around the corner hence their desire to secure reliable, ESG rated RE from Western suppliers. It's all well and good chancing your arm on the open market at budget prices but if China can't (or won't) supply REs you don't have a business.
As you are no doubt aware, Pensana already has an executed letter of intent in place for the offtake of 100% of stage 1 production from LJ.
Sundrum, when was this letter of intent executed, I must have missed that announcement?
Re-cycling will not work in a growing Market, and there are still only a small amount of installed RE motors out there.
What on Earth is non mine production ? I hope you are not referring to RBW, even if they can ever manage to get their process working it is not going to be as profitable as LJ nor be able to produce any sustainable quantity.
If everybody adopted your philosophy that China already has a lay down misere, we may as well give up now and save what money we have to buy Dim sims. The very fact that you continue to comment here indicates that you don't even believe in your own raving's !
Production cost is 5000 per ton, MREC goes for 4500usd including vat in China.
https://www.metal.com/Concentrate
Which is why the company have been talking to Japanese, US and European Automotive OEMs as well as European wind turbine OEMs. One of which has agreed to the offtake of 100% of Longonjo's production. And yes, this information is included in an RNS if you look carefully enough.
Dumbo, Sorry mate the production cost of MRES at LJ is below US$4,000t.
Now please answer my questions on RBW
I'm quoting from the pensana presentation, in the absence of any independent information such as a PFS.
https://pensana.co.uk/wp-content/uploads/2024/02/Corporate-Presentation-February-2024.pdf
That cost ignores interest and depreciation.
What's your question on RBW its lost in translation.
SmartPunter ; Why are you posting here again?
Shall we revisit the reasons why RBW is a big short and heading to ZERO and the share sales by Chairman Zero on the RBW board?
Thank you Dumbo, for yet again demonstrating to everybody who reads your drivel, your total lack of financial knowledge ~ There is no mention of OPEX in that presentation, So I assume that your simpleton mind divided the US$200M Capex by the 40,000tpa MREC that were quoted to come up with that $5,000 !!!!
Now I did think you were English and assumed that you attended some sort of school, but if you don't know what a "?" is I begin to have doubts !
Obviously I didn't.
But I'd love to see your source of opex and explanation why you think its not in a company presentation.
It is there, however
Dumbo, We have told you numerous times ~ Do your own Research
But seeing as you are having a very bad day I will give you a hint, try the Snowden Report.
As a matter of interest, when did you become aware that RBW had written off the "Worlds Richest Rare Earth Mine" ie Gakara, in July (when it happened )or October (when GB informed the Shareholders) ?
SmartPunter - I tell you what isn't very smart. Investing in a company where the BOD have willingly put out a presentation which includes a verifiable lie in it. I'd be very careful if I was you and perhaps focus on your own investments instead of wasting time on a company you have no shares in. #gakara
Oh, dear, the PRE employees are having a tantrum today aren't they?
How about giving us a verifiable OPEX value, even something from PRE themselves would be a good enough. I know a PFS, DFS or the cancelled BFS is out of the question, because its a ... secret.
Maybe you could look at the at the PRE company presentation and tell me what the OPEX is ?
is that too much to ask?
Maybe you could throw in the NdPr price required for break even ?
Or would that highlight the the unprofitability of the project.
>> have willingly put out a presentation which includes a verifiable lie in it.
Show me a lie?
Shall I list the laughable claims in PRE's lates presentation, starting with the projections of future NdPr price several times todays price, even though prices have been falling for 18months.
How about the talk of funding as it was a done deal, when it is nothing of the sort?
How about the omission of the word "Bridge" from the mention of the $15m loan?
Maybe because bridge loans are secured on fixed assets .. such as the mine and have a FCA definition of 12months maximum before repayment or can result in asset seizure?
Lol. I've never been happier with my investment in Pensana.
In all seriousness, aren't you just a little bit concerned that the BOD of RBW not only concealed the truth about the Gakara asset for 4 months, but 3 months after writing the assets to nil, they included it in a Corporate Presentation, claiming they were engaging "with the Government to renegotiate terms of the Mining Convention and to restart operations"?
You must be mad.
Https://www.rainbowrareearths.com/wp-content/uploads/2023/09/Corporate-Presentation-September-2023.pdf
Page 29. Presentation dated 19 September 2023.
https://www.rainbowrareearths.com/wp-content/uploads/2023/10/RRE-2023-Annual-Report_Final.pdf
Page 8. "This resulted in an impairment review being carried out for the Gakara assets in the year ended 30 June 2023 and led to the net assets being written down to nil as at 30 June 2023."
Why were they claiming they were negotiating with the Governement and looking to restart operations in September when they'd written the assets off in June?