Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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If the deal was dead in the water since the 22nd August, shouldn't the company have issued an RNS confirming the fact and re-admitted the shares to tading?
Beggarman. The company along with everyone on here don't know if it is true and have only been made aware of this today along with all of us, so unable to make an announcement,
Correct beggarman there is more than meets the eye with this best to let it play out and only news from credible sources on deal status I.e Petronas or savannah energy will be deemed actual factual news.
As I said in one of my earlier post if we were close to completion this perhaps could be a last ditch attempt to squeeze more out the deal or an attempt to continue stalling the deal further if they had run out of actual genuine excuses. I still find in interesting the official source didn’t mention savannah at all. I would have expected it so say they have formal rejected the savannah Petronas deal. Seems to me like they are playing chess for perhaps additional add ons
If we've been working on the deal for 18 months and haven't completed all workstrreams how the hell can this company have done it in 4 weeks with aparently no contact with Petronas ? seems iffy to me though again you are dealing with African govenments so anything possible.
And also as longshort says they probably need to get legal advice on this before commenting as it could back fire on them as well.
Besides the new company must be funded by Elon musk if they are willing to pay 3 times what the assets are actually worth. And how do the my propose to interstate the assets they have got no experience in running oil and gas fields no operational foot print.
Https://www.energyvoice.com/oilandgas/africa/536054/savannah-competition-petronas-purchase-south-sudan/
"The New Jersey-based Caltech shows little sign that it would be able to muster the $3bn discussed with President Kiir in New York. The company has two addresses, one in a strip mall, the other in a residential street."
All very bizarre...
Checked in here and can’t believe what I’m reading. I’m very worried about our share price reopening. I might be thick, but it says $3 billions for Petrona’s and other assets, they might not have overpaid? Sounds like the president had struck a deal with them worth $3bil in total. At the very least it sounds like we now have a competitor.
We could talk to the moon and back among ourselves (as we did) but the truth is Save has yet to complete the deal. If true all so heartlessly terminated after all the hard work. Sad.
Office of the President - Republic of South Sudan, Facebook page.
https://www.facebook.com/100018542066050/posts/1369539927007396/?mibextid=rS40aB7S9Ucbxw6v
Wow. Sounds like a done deal. Save must have guessed for sometime that all isn’t quite right as official approval dragged on and on.
Starting to think there is some legs in this and it will have an initial negative impact on share price whether we like it or not, if true we could be back trading in the next couple of days and i don't think it will be pretty unless AK announces new RTO and failure of this at the same time and we remain suspended.
Most People are getting anxious needlessly, might i remind everyone that before any deal our share price was 19p this was June 2021 even before the chad deal we are now suspended at 26.25p so in September 2023. An additional 2 years and 3 months of operational growth in accugas asset and net debt reduction and only 7p higher. We are not fairly priced at suspension in fact with the accugas asset alone we should really be anywhere between 30 - 35p. I would advise people to read the last few broker notes for ease of mind
"The Chief Overseer of Caltech Investment Mohamed Malik says the acquisition fits appropriately with the company's strategy of expanding and focusing on the delivery of 'Projects that Matter' in South Sudan and the sub Saharan region."
if real, CalTech are even stealing SAVE's slogans !
TIL, that is all well and good however history of this share will tell you that on bad news ie no deal the opening share price will not be higher than today and realistically could hit 19p.
Yes it could not to the extremes that some speculate though also some brokers were not to keen on the SS deal in the first place considering the jurisdiction, so some may view this in a positive light considering it as a get of jail free card. It will depend on the following i guess and the timing of other newsflow:
1) Addtional accugas contracts
2) CPF processing plant progress - I believe we have hired construction manager in July so work should have commenced.
3) Niger plans and progress
4) Debt restructuring
5) Potential new deal which has already been trialled as this year.
6) Anything else that I have missed.
I have waited 10 months already I think I am willing to wait an additional 3 months on above till 31st December 2023 and than assess at that point.