Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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No, me neither at this price, as much as I think it's a bargain. Further to fall imo.
3 million+ volume today
certainly a few out there adding while others sell or sit on hands.
Volume has calmed down somewhat since BSC sold out.
AT's still churning through larger blocks by looks of things. Bargain price indeed.
Are you asking or answering Anon?
Sounds like the latter.
Not everyone is in agreement, me included. I think things are likely to hot up heading into the AGM and some news on government approvals clears the decks for the phased development plan.
Most PIs will come round and re-elect Scott and then on we go towards getting the company sold in 2024.
As Fort likes to say, tick tock, tick tock.
Thank god I've got a few mill tucked away in GST...
But this dog will have its day 🚀
Nobody believes you Novice.
Just like we didn't believe we'd see a red dot on SOLG this morning...
Yes we see you.
Bozi, I was asking while giving my view at same time.
Quady, I don't like it when you say the grades are not great, but there's loads of it.
It implies that it won't be cheap to extract.
I guess that's what it's all about. "Can any buyer make it pay?"
Hello anon3.
Going back some time.
When we had MRE1 at Alpala.
We had copper grades at 0.3% this was the cut off.
Then we had MRE 2 the cut off was lowered to 0.2%.
We then lowered it to 0.16%.
This increased the amount of ore we had.
All the time arguing that this was economical to mine.
This I believe is one of the reasons people are not falling over to purchase us.
We need this mine to be up and running in order to extract the ore from this large ore body.
Hence why block cave mining is the way forward.
Because in the long run it's cheaper.
Also because the diverse book means no one party owns 40% of the company.
It's makes it tougher to buy.
People on here quote 20 parties in the data room.
However looks like about 5 parties continuing to run a slide rule over us.
On gold their are smaller projects talking about 5 grams
We struggle to talk about 1 gram in places.
However lots of it and the ore is clean and contains other metals.
So in short we need to be up and running for this to be successful.
It's always been the case.
"so in short we need to be up and running for this to be successful" Erm...isn't this true of every mining venture? In fact, it's true of every commercial venture, regardless of sector.
Quady says: "You cannot compare us with any other company out there.
What we have is unique"
If you were trying to sell this with a pitch like that at the board level it would not wash. I hope Solgold has a better bargaining position. I hope they have lined things up so there is a deal to be done. To me, it makes an interesting comparison.
Do you think mining companies have never dug metals out of the ground before? They make the cost analysis based on the data presented. That's their day job. Bread and butter. Simples. The big boys know what's required but they also know if they play it right they may get it for a steal. That's the hardball they play.
Anglo-American bought Sirius Minerals for 425 million and is spending billions building out the mines and a twenty-two-mile underground tunnel to Redcar to ship the fertilizer out. The viability of the project was there to see but Sirius Minerals just could not get the final funding through even though they had got the project well underway. They then tried a strategic review to slimline the initial project. The first production delivery is expected in 2027 for Anglo American.
'They then tried a strategic review to slimline the initial project. '
hmmmm
SXX also slashed the staffing levels back to a caretaking crew while they considered a strategic review and tried to do funding deals. I think Solgold have put a caretaking team in place here. Maybe Nick Mathers mate could do a cosy up with Nick and ask him to go cap in hand to BHP and ask them to do a deal at 45p.
SC is obliging taking calls. I hope he has got a plan to move things forward from here. You don't replace someone on £800,000 with someone on £200,000 and expect to get more out of them. All that money spent on exploration does not seem to have improved the position although it will benefit someone else I imagine.
I hope I am wrong. Maybe SC can enlighten me as to why I should be optimistic at this stage.
Banditputin, I absolutely agree with you that we aren't capable of taking this to production and it's always been a complete fantasy to imagine that we ever could. However, one of the key differences between us and SXX is the amount of money the key directors have invested. Their interests and ours now appear to be completely aligned, whereas I always had the sneaking feeling Fraser's weren't. This was also true of Peter Secker at BCN.
Our guys will be fully aware of the many examples of companies being over-ambitious in the mining sector and I believe they are now fully focussed on making sure we don't make the same mistake.
Arapahonation, for the reason mentioned above I think your observation about remuneration is totally spurious. Caldwell's commitment to the project is demonstrated not only by the level of his investment, but also by the fact he was prepared to relocate to Ecuador - not a simple decision at his age. He is hugely incentivized to make this work. DC's remuneration was absolutely obscene, as was Fawzi's, but the days of snouts in the trough are over. Of course, Caldwell's yet to deliver, but he appears to be on the right path. Give him time.
It could not have been easy for Scott to make the transition from Canada to live in Quito at his age. Quito is at 2,850m above sea level. Altitude sickness starts to kick in above 2,438m. Every time he returns to Canada and then fly back to Quito, he has to become re-acclimated to Quito's high altitude.
He is not there for fun.
Addicknt
I’m sure the other companies you highlighted would have had employees that if they had been successful would have been highly rewarded.
I am not up to date with how much these guys are invested buy hasn’t Scott got millions of options at 17p, in which case he hasn’t put any money in, he has been given an incentive. Perhaps,he has invested his own money as well.
However, there is no way i would visit Ecuador on his salary pro rata never mind live there……
Also, I do think this board has flipped from too much positivity to being too negative. The risk reward at 8p has to be reasonable between failing completely and the company being taken out in the 20s
Tesla - You're crazy to think that the management, with 17p vested options, would accept an offer in the twenties, as this would give them a return of only between 18% and 71%. Not happening.
Alternatively, there will be gossip and rumours in the appropriate press before the deal is announced, rerating the price to within 50% to 70% of the offer price, to maintain appropriate appearances and secure the vote.
Just a waiting game.
Kat as usual. you are showing your complete lack of any understanding.
those 17p shares are pocket money.
you have no idea of the wealth mining executives possess.
the mining industry and its workers are is awash with money.
cleaners in the Pilbara are on over 100000 a year, baristas start on 90000 a year.
come over to Perth, look around, you will realise how clueless you are.
a middle execs bonuses are figures you would dream of,
as usual your posts are based on nothing but uneducated drivel
Kat…..
lol…… we’ve had the gossip and rumour on here for 5 years…….remember the 40p options saga years ago and posters like you were saying they won’t let these lapse and the sp will rise above the option price …..well guess what they did lapse …….and your fantasy figures won’t happen either…………
Your house is only worth what a buyer wants to pay for it - and atm nobody wants to pay anything for ours!
So we have needalife, who could be earning six figures cleaning bogs, instead is spending his valuable time day after day bashing this dog, for no good reason at all!
Plus the ever-multiplying new faces and winnets ( that's the name for a turd hanging off the arssee wool of a sheep, by the way ) means that either the investing world is populated by a whole shipload of generous and altruistic guardian angels, who are here to save us from our investing folly ( yeah, right ! ) or this is a great contrary indicator of moves afoot!
Kat, Aka clueless clown
I love it Kat, you have just described NAL to a tee!!
NAL is a winnet:) That explains the bad smell on this BB whenever he rocks up.
Don't pay any attention to his inane drivel which is devoid of any intellectual worth. There are lots of villages in Oz where he us in high demand for expertise as an idiot:)
Tesla, yes he does have options, but he bought circa 18m shares with hard cash and has held most of them for a long time. By contrast, you may recall DC didn't spend a single penny buying shares. He's got plenty of incentive, and obviously Mather has 90m reasons why he wants this to work.
Kat. The funny thing is, I could easily be earning 6 figures cleaning.
But I've made my money. Happily retired now.
That's why solg is a bit of fun for me. My investments and divis are more than I can spend, in the autumn of my years.
Let me fix my typos:
I love it Kat, you have just described NAL to a tee!!
NAL is a winnet:) That explains the bad smell on this BB whenever he racks up.
Don't pay any attention to his inane drivel which is devoid of any intellectual worth. There are lots of villages in Oz where he is in high demand for his expertise as an idiot:)
Be careful eloro.
Admin are watching you.
I've been watching the grandson playing cricket today eloro.
Kids love it, fully competitive.
Ask your dad if there's anything similar near you.