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 Funding lands, how on earth will it bag anything? How massive will the dilution be? Or, how big the cost (they already pay 9% and 12%, with all the collateral pledged). Capital repayments due from the end of March, so the 'old' finance packages need to be re-negotiated.
It is highly likely that this will go into administration with the existing lenders taking all the Lake Way infrastructure and machinery leaving nothing for shareholders.
Be very careful and suspicious of those claiming this will 10 bag in days. You are being played.
Lot to learn fella…watch and learn. Likelihood is higher but then you have to ask yourself what benefit is there of taking this into admin next March? What are existing lenders going to do with these assets, they want return and not assets, therefore it is also highly likely an agreement will be reached. Dyor
Which they would have done if an agreement was reachable. How many weeks has the ASX been in suspension, now? How many times has the suspension been extended?
If the existing lenders were keen to deal (and 'want return and not assets'), then a deal would have been done right at the start of this emergency fund raise. The deal hasn't been done throughout this time = serious problems.
An, yes - they will take the assets to other well managed operations (Australian Potash, say) and put together a package for then to take it forward with a management that can and will produce returns.
Don’t think it’s that simple, the new CEO only arrived last month so I would not be sure, otherwise why would he take on this role and put his reputation on the line? These are the negotiations he will be leading right now!
Oh dear, go back and actually read the appointment RNS.
He is not there yet.
"The company anticipate that the Executive will be appointed as CEO of the Company by no later than 15 November 2021. The Executive's employment pursuant to his Executive Services Agreement is subject to requotation of the Company's securities on the ASX."
The 15th deadline has not been reached yet, ASX shares still suspended. No confirmation of appointment has been issued. Currently the old team and CEO (with no incentive to perform) are still in charge.
As you said "Lots to learn, fella"
My apologies, but my prudent point is a new CEO has accepted the role..!
But with subjectivities. Until these are sorted, he hasn't.