Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Just checked in and found sleuths have found our buyer well indeed thanks go to Blockchains. However they have announced to world so it would be nice if administrators/company could release info to us soon. We shouldn’t have to find out oursleves. However optimistic of some return to shareholders if they bought the lot. Let’s hope administrators got a good price! Clearly valuable if this top Japanese company bought it from us! IMHO DYOR
Sounds doesn't looks good to me
saiettas assets book value £30.8m expected to sell £3.6m
this is excluded 49% vna joint venture.
https://www.ey.com en_uk sale
Exedy paid £2.46m for saiettas assets
and 49% vna j/v still to be value.
Https://www.ey.com/en_uk/saietta-group-plc-and-saietta-sunderland-plant-limited
Significant assets not included in the sale of business and assets from Sunderland.
also Dutch subsidiary investigating to find any value, so to j/v India. we know j/v is profitable so some sorts of value to be added. so the next update will be important for shareholders.
Hilco auctions sales not included in administrator reports.
Forget to mention about creditors
there is no secured creditors nor freefloat chargeholders
only employees and hmrc etc
so as far administrator reports not much debt the company has.
You're so wrong - the company has plenty of debt... Have you not seen the huge list of debtors on the administrators report?
JPP there isn’t 7 million worth debt that’s nonsense. IMHO DYOR
10k owed to vox markets is one I noticed
Are you stupid? Read the administration report
"Non-preferential unsecured creditors are estimated to be in the region of c.£4,748k for SGP and c.£3,206k for SSP."
That's £7.9m of money that people want back
Jp,
these two figures does not make even a million pound.
this is below 1m
Oh my god there's some total idiots on these forums
£4,748k is £4.7m - what part of that is unclear!?
Jpp8788
You need to go back to school
Mate, you shouldn't be let anywhere near a computer, never mind the stock market.
Your previous posts say that you invested just under £4k here - how's that going for you?
Your investment is gone, kaput, written off.
Go back to school or get treatment from mental hospital