Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Morning all...i read it as not a failed bid, more a that we pulled away because of tensions between shareholders.
Speaking on the sidelines of Kalgoorlie’s annual Diggers and Dealers conference on Wednesday, Mr Cuzzubbo confirmed the company had “tested the market” on a raising, but had not gone ahead amid tension between shareholder groups over the structure.
Pinot
:0)
Thank you Pinotnoir you and rcgl2 I find are the most accurate posters on here.
We never had a failed bid.
We asked some questions and decided not to proceed.
So, we simply asked a "few questions" and dropped the whole idea, did we? Perhaps that explains why we lost our finance team?
One for the cashbox.
Are people aware that you can raise up to 20% of the market capital on each cashbox .
No voting required, our BOD can just do it.
Exactly as I read it, pinot.
Also
Can we bin these nonsense terminologies please............ since when has a "placing" ever been called a "cashbox"
FFS - lets use the right terminology can we - so we all lnow what we're really talking about & not some Spivs street slang.....
BN.c
As far as I am aware BNC cash box placing is the correct term.
yes - but it's a placing............end of
Got a source for that Quady?
Any shares issued still need to fall under allotments already authorised, or else a vote is exactly what needs to happen...
Not read it fully, but I believe this covers it.
https://www.bclplaw.com/en-GB/insights/is-it-time-to-consider-cash-box-placings-again-to-raise-cash-quickly.html#:~:text=For%20this%20reason%2C%20a%20cash,shareholder%20approval%20or%20a%20prospectus.
Thanks Quady. That page was a bit more thorough than the other legal summary I'd looked at.
What ever you call it, it still dilutes the existing shareholders.
Jezzoo that's the way you raise cash for exploration.
When you have a fully proved up prospect that you are ready to finance, then funding methods change.
This is really basic knowledge, which you and so many of my detractors remain uninformed about.
Thanks Quady,
Cashbox and Boliden/Franco top ups it is then.
Onwards we march solg.
A lot of green boxes, I assume I'm being gaslighted again for my opinion again, it wasn't me who wrote that article !
Quite possible smickster, the point is we can raise the money for DFS and BFS. We have had no failed fund raise. ( that has been confirmed now )
Also we can fund the construction of Alpala.
The strange thing here is Redknight was supposed to be something in cooperate finance, and he knows nothing about how money is raised apart from searches on google.
I worked him out ages ago.
BNC what's the point of saying that...its a special kind of placing...even SOLG called it a cash box last time...
https://www.dacbeachcroft.com/en/gb/articles/2020/may/what-is-a-cash-box-placing/
RK
Because a placing is a placing is a placing................always been known as that since I've been investing/trading so lets call a spade an effin spade shale we & not dress it up as anything other - raise funds by issuing shares in the co via a placing........
Spare us the semantics pls.
If I'm right, a cash box bypasses the pre-emption rights inherent in a 'plain vanilla' placing?
Thereby allowing the exclusion of, e.g. BHP and Newcrest...
Please correct me if I'm wrong...?
OK Folks I stand corrected
It's a cashbox placing.............
[if I may however whilst i know SLOG have used the "cashbox" terminology, it remains the fact that it is a placing albeit a limited less restrictive one]
atb
and thanks for the correction(s) - every day is a skool day...........
r's
BN.c
R's
BN.c
Well said.
:)