Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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mbattled Southern Cross Healthcare (SCHE) has been thrown a lifeline by its landlords in a deal made on Monday night. An emergency rescue plan was agreed with the landlords' committee which represents the 80 landlords who own the company's 751 care homes. It means that no care homes will be closed in a transition period that will last until at least October. Southern Cross shares soared for the second day running, rising more than 66% in morning trading on Tuesday as the news was welcomed by investors. The proposals include an overhaul of management at the reworked company, which could be less than half the size of the existing Southern Cross and operate under a different name. Daniel Smith of Grant Thornton, chairman of the landlords' committee, said property owners have "agreed in principle that they will make significant financial concessions in order to achieve a sustainable solution", which is understood to refer to short-term rent cuts and longer-term lease changes with Southern Cross or new operators. He added: "Our overriding concern at this time remains minimising disruption and concern for residents and their families." The proposals are believed to include an agreement for some kind of long-term rent reduction on the condition that key creditors write off some of the company's debts. The plans will be tabled tomorrow in a meeting with the government and the company's main lenders, including Barclays (BARC) and taxpayer-backed Lloyds Banking Group (LLOY), which are understood to be owed about £40 million between them. It is hoped that HMRC will also be supportive over the £20 million it is owed by Southern Cross.
@10.12 now
@10.05p
But not showing on any system
Fingers crossed.
i hope you are wrong, i think it will drop to 9 ish? but not much lower, i think the general trend should be like jjb, and should pick up to around 20-30 p over the next year or so, think that this is a good punt and wish i'd gotten in first thing monday but oh well.
I am going that it will drop more 8.25p is my guess, a lot of profit here for some
Yes, I see the small drop, but also noticed, still hard to buy and easy to sell, do you think this will finish at highs of the day.
9.75 to Sell
Are we expecting another meeting on Wednesday, after last nights?
great news that they are sorting out the issues - lets hope they carry on with and SCHE are stabalised soon.
at 9.93 ....
I'm not invested here. Bought at 5p few months ago watched it go to 15p and sold out at 9.5p. You could be right but it is the only the start and will be lots of ups and downs. GLA.
I think the troubles may be over now, as they are being resolved now.
Don't get impaled on a spike. SCHE still in big trouble. If you want to invest be patient and you will get a better entry point. Nothing goes up in a straight line.
have you seen JOBB'S post, call it 70p, even I think that is in cookoo land, do you agree with 70p?
If it does end up half the size of the orignal Southern Cross you'll be looking at a market cap circa 70p!
It is understood the proposals involve landlords who are also care home operators – including leading landlords Four Seasons and Bondcare – taking control of their homes while other property owners are given the option to find a new operator or stay with a "son of Southern Cross". The landlords are proposing a "transition period" from July to October when no homes will close and property owners will decide whether to stay with Southern Cross. The proposals include an overhaul of management at the reworked company, which could be less than half the size of the existing Southern Cross and operate under a different name. http://www.telegraph.co.uk/finance/newsbysector/epic/sche/8573731/Southern-Cross-landlords-approve-care-home-rescue-plan.html be careful boys and girls
10p and someone sold too about that amount few mins later
Are you in this share from this am ?
now