Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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The whole thing really stinks and I'll never invest a penny again if Eric is involved
well that's me completely out, not all interested in locking my cash away for a ****e divi plus a 0.30% premium.
Like expected ..wonderful ... now hopefully a correction of the POG happens soon ... i will buy some other cheap miners like Calibre , Dundee Precious Metals and some explorers like Newcore, Tri-Star Gold from the gains ....
"invest" is the wrong word ... its more like "gambling"
Oh well we have tried. Topped up my SRB THX EDV and bought new positions in PTAL, FRES and HOC. its a shame but theres many more out there. Good luck all its been a pleasure
I thouth they needed 75 percent of all shareholders voting for, yet under 72 percent cast their vote, i wonder how many lost votes there were after the shambles on revoting
You need 75% of votes voted for the meeting to pass. The 72% is the amount of issued capital that have voted.
There has clear.y been something bubbling underneath all this which has forced some of the bigger long term investors, who are in the know, to sell. Very difficult to know what but likely connected to Tanz government.
I guess to many the result of the "vote" no surprise, case of BOD "if at first you don't succeed et al" I'm therefore out and wont wait for "D" day, monies from here straight into Serabi Share Chat (SRB) as they seem to be a better, more ethical choice for my money
DYOR, its been a heck of a ride here, but reflecting I'm not sure I enjoyed being taken for that ride mind!!
Nigelbonger
"Oh well we have tried. Topped up my SRB THX EDV and bought new positions in PTAL, FRES and HOC. its a shame but theres many more out there. Good luck all its been a pleasure"
I have a reasonable holding in SRB too, but held off diversifying further until the result of this fiasco was confirmed. I quite liked the look of HOC at around £1, but it's less attractive now. Have you researched quite thoroughly, and if so, who's the favourite? Would appreciate your considered opinion :)
Grezzz,
All have their merits, THX most undervalued but in a risky area, SRB is in a stable region also undervalued but like THX hasent got a long proven resource minelife. But with little capex spend i see this easily changing. HOC is in a much more safe and stable area, and exposes to around 40-50% of its revenues in silver which, silver, i see as very undervalued plus it is expanding its production. Although when i was initially looking it was 90p however, i decided to hold SHG throughout this fiasco so unfortunately missed that buy in. FRES is potentially a punt for another silver play but medium term their production is marginally reducing so isnt as attractive to me. People happily correct me on my evaluation, it is all my opinion and interpretation.
As others have said, AIM stinks of corruption these days. It seems that 90% of companies either go bust or shaft the investors like this just as they hit pay dirt. Who in their right mind would sell at this stage without a backhander? Started investing here in 2012 and was finally looking forward to making a profit but as the actions of these schemers have held the price back I won't even break even. V dodgy how some ppl had to repeatedly vote. Would love to see what a thorough investigation would reveal. I wouldn't have even known about the votes were it not for this site. On the bright side, this will hasten my exit from AIM, so I can stop losing money!
Nigel,
Thanks for that insight. It may be that missing a better entry point for HOC may just have to be taken on the chin. The annoying thing is that when it was hovering around 98/100 I recommended it to a friend of mine and after he'd checked for himself, he loaded up! I kept adding to SRB as it seemed to have better opportunities to build at a decent average. I'm trending a bit more risk averse at the moment, so might go with either HOC or even CEY. Have you looked at the latter?
Grezzz,
Yeah it is unfortunate but it was worth the fight for shanta, good to hear your friends made good money in it though. SRB is my biggest gainer and i still think it has more to give with gold going up its economically feasible ore body just keeps growing too. I have only peaked at CEY its been a solid recovery play and looks to be turning things around, AISC remain stable, gradual sustained increases in annual production and a good pipeline of production projects all be it in an area thats got a few issues around it at the moment (Cote D'Ivoire) they look promosing. Id be tempted it was the simple fact i wanted a larger miner with good exposure to silver i didnt choose CEY, its definitely one ill look to take a position when i get more lumps of cash to invest. I wont drone on about investment case for gold as thats why we are all here but aslong as you are in a stable producing gold miner, all should benefit massively considering the upward momentum golds going to have atleast for the medium term!
I piled into paf and srb, glad I sold up here, as I bought them early with my Shanta profits… I been in Shanta since 7p days am disappointed in Eric one I will never trust again.
Sold out invested in harl gla
Sold out too, gla.
I'll have to change my name to BittenThriceShy....
I'm out now. Prepared to take a small hit on the SP as really can't be bothered to wait around for all the regulatory procedures and permissions to complete and I'm not interested in hearing form this BOD or their advisers ever again. We have been shafted. There can be no doubt that the AGAINST figure was significantly understated because of the confusion over the voting but I guess we will never know. I'm probably going to scale down the risk in my future holdings, especially on smaller AIM companies as that cesspit seems to be getting ever worse. But, hey, I did make some money so not the end of the world. GLA and may see some of you again on other forums.