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Why not talk RBW on the RBW board?
The mining sector has been dire this year, not much to talk about.
I am expecting (hoping) a boom at the start of the year, however. New year will get the investors out and things will perk up.
Very good question for SmartPunter.
Why are you posting here if RBW is so good?
What is it about PRE that bothers you so much?
Both pensana and rainbow rare have gone down since the second week of November. The only difference is the percentage pullback on pensana is 50% and rainbow is 20%. Hopefully both will change course in 2024.
Correction 33% Pensana drop not 50%, need another coffee.
Leesee
I'm only discussing RBW here because *you* persistently brought it up.
Smartpunter My question is why are you here on this board?
You are relentlessly ramping RBW on the RBW board so I ask again what is it about PRE that bothers you so much??
DP/SP i have to a gree with Lessee that your interest in PRE is somewhat puzzling. Not just on this boar, but taking every opportunity to dump on Pensana with highly spurious comments anywhere you can, namely ADVFN and the HIVE. The reaction to RBW on this board is a natural human reaction to your consistent attacks, ie defense. Personally, i have no issues with RBW. I think the small cap Rare earth prospect collectively have some concerns. Largely brought about by the chinese manipulation, but individually they all have pro’s and con’s and frustrations for PI’s. But they are each navigating their own ways and being as transparent as possible about it. Ill admit i find your constant sniping on this board annoying, and closing Down of conversations on the Hive down right malicious. So what is your problem, because it isnt rational, without sone sort of explanation. I also accept your right to comment as you see fit, but other users of this platform already recognise that your comments are not Bourne out of any sense of altruism to PRE shareholders , and don't seem to be based on attempts at share price manipulation. So as i say, i am puzzled, in regard to your tactics on the Hive, I am f*cking annoyed.
An informed opinion is what the BBs are for Lewis, and appreciated, certainly by me.
Interesting point of view Lewis but not supported by the financiers in my view. The only RE projects being financed as far as i can see are the high grade hard rock deposits namely MP, Lynas, Hastings, possibly Arufura and (hopefully soon) Pensana. None of the ionic clays nor recycling nor RBW's technology play have so far been financed. Interesting that Peak looks like it will get financed by Shenghe. It appears that all the financier's money is on hard rock at this stage.
Lewis
You are misunderstanding the valuation, project financing valuation is based on the project NPV, there is no direct link between that and the SP (which is sentiment, at present), The comment about 60p was an illustration of the Project valuation in use for funding.
Lessee
Ionic Earth miner is commisioning their mine in Brazil
https://www.bnamericas.com/en/news/serra-verde-receives-operating-license-for-brazil-rare-earths-project
RBW have raised over 50% of their equity funding and a commitment for the bond part from the DFC.
Three hard rock projects failed/cancelled this year.
Smartpunter you haven’t answered the question - why are you posting on this board?
Smartpunter in the last 30 days you have posted nearly as many times on this board (23 x) as you have on the RBW board (28x).
A little obsessive don’t you think?
We know you are a big ramper of RBW but what I am sure no-one on this Board understands what is your obsession with PRE?
Not sure what you are referring to ref the financing Lewis. They stated that it’s being funded at the asset level ie not at the PRE level so no equity issuance at the PRE level.
Lewis: Is £31k per month total BoD remuneration?
lessee
as i've explained before, i came here after one of your posters put crap about pre in the rbw forum and discovered this forum and the inspirational china ****ginvg off rbw.
Thanks Smartpunter so you are saying that the reason you post almost daily on the PRE board is because Chinaxxxx posts on the RBW board?
So if Chinaxxxx were to stop posting on the RBW board you would stop posting here?
Lewis
Their expenses are exceptionally high. They pay money to a subsidiary in Portugal (transfered from Germany), a million per year. No idea why, look at the accounts.
DP - RBW George Bennett is being paid 498K US per year, so what point are you trying to raise, all are being paid too much.
His wage is 335 plus a bonus of 165 which he earned by delivering a pilot plant, funding and a second project. Plus 35% share price rise in the year.
However his pay is 65% of the entire board payroll of 800k. PA annual renumeration.. and your chairman was paid a million.
Why is PRE paying a million to a random Portuguese conapany and spending $10-20m a year doing nothing?
RBW George Bennett was paid 498K US for doing his job, looks like PRE will have Longonjo funded late this month, RBW Results expected early in Q4 2023, so now 3 months overdue, guess no bonus for George for non-delivery,
DP/SP, the point about salaries has some validity, the very large pay increase being awarded just before Simon Sharpe came on to head the renumeration committee. However, they have not been fast and loose at interpreting the KPIs on the incentive payments and didnt receive any bonus (as they shouldn't). however to say they have been sat on their backsides doing nothing is extrmely disingenuous. they have completey re-engineered the Longonjo plant to from a conventional to a modular prefabricated construction, without changing the process. i might add the the Pilot plat was taken as a given and not part of the incentive payments. The board was well aware of shaeholder sentinet in respect of incentve payments after the EGM earlier this year. in addition, it was stated to the baord that the work that had been performed for the LJ Due diligence seem to have been considerably down played. instead stressing that Due diligence needed to be completed. i suggested to the board that this down playing may have been detrimental to shareholders perception of the management value for money. this point was conceded.
DP/SP,, please read the annual report. PRE board take their renumeration and Shareholder perception of same seriously. the following is from the latest report
"No bonuses were paid for FY2022 and the related bonus charges were reversed in FY2023. No bonuses were provided or paid in FY2023."
Not only were no bonus' paid in the last Financial period, bonus from the previous was clawed back.
It is interesting to see Iluka's woes with the building of their rare earths refinery in WA. They announced in December a blow out in costs to an estimated A$1.5 to 1.8bn, blaming inflationary pressures and all things West Australian. I appreciate there is a great deal of difference between a refinery in WA and a mine in Angola but it does seem extraordinarily far fetched that you could build an commission a mine in Angola for just US$200m, and confirm that the past 12 months has seen no necessary cost review. Personally i don't think the numbers are for real, just as I do not believe the company's explanations for the delay in finalising the finance package. And one thing we do know from Iluka is that Saltend will never happen, nothing has changed my opinion that Saltend was no more than a sleight of hand intended to draw in funds from the UK government. Now the company realise that isn't going to work Saltend has been abandoned.
Post all reading Theorists post, Saltend hasnt been abandoned. its still very much a major part of the project. M&G have categorically emphasised that they are supporting the project because of the emphasis on the UK part of the project. it has been stated that the portfolio that PRE forms part of, requires UK ownership and operations