Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Probably we are going to get an offer soon .my expectation is 30p+ considering the asset value and current status of production .there was no reason of car crash RNs unless they are dealing a sale offer ..imho .
Ftseinvesotor you are dilusonal nobodies gonna but this shxt show, it’s been in this position countless times in the past and there’s never been a white knight to buy this waxk stain of a company, the CEO will resign they will issue shares then consolidate wiping out all us unfortunate mugs, appoint a new CEO with a proven track record and promise this that and the other and so the cycle of deceit continues
Hi The Jam.....
I do remember with some fun a few years back. Conversing on our mutual interest of bands of a certain vintage I recall?
So, & as things look rather bleak. Won't mention overly:
" The bitterest pill, I ever had to swallow"
"That's Entertainment!"
Or pertinent to this BB now, and all the returning vultures..
"A Town Called MALICE... !"
Not to make light of where we are.... But feel your pain mate.
I dunno £300k plus in the hole here. But still trying to smile.... Health and life is more important than £ Shills n pence.
Weller rules tbw..... But you need a BS detector, from my lot to pick the good from bad right now.....
Stay free!
Talk of any near term sale for 30p is delusional. The company can’t find investors or mainstream lenders because it is an accounting basket case that nobody trusts.
Company's sale value depends on the asset it has even in underground and the potential of the asset .rmm has shortbof money to dig the copper from underground doesn't mean current production capacity of 8000+ton / year and hundred of millions of reserve in underground doesn't attract big fishes .
You have no money to buy petrol to drive a Porsche doesn't mean the car has less value .if you sell the car to a person ( even less value than original price ) he will buy the petrol and drive the car .
Any asset values for RMM will not be near predicted market values. Take NewGen and the asset their loan is secured on - any buyer would wait to see when RMM defaults and NewGen takes control. All NewGen would want is its loan and associated fees repaid - they wouldn't care about the sale price being heavily discounted so no buyer will pay even 50% of asset value and it may be far lower than that. The only hope in that scenario is to have several interested parties but even then they could decide to form a consortium and give a lowball offer.
RMM is on its knees with no leverage over potential business dealings.