Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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And the employees lose their jobs. The country looses billions of tax revenue. The local area looses a massive boost to its economy, but you will be able to sleep knowing that you’ve been spiteful and stupid by not saving a little of what is left of your investment.
Yes it hurts losing , but it’s time to man up (or woman up) and stop listening to these Self pitiful idiots who have only themselves to blame.
And yes I’ve lost a load !!
Sod the jobs sod the taxes. People will find new jobs.
There is no way I'm voting yes to lose 75% and any involvement in the project when the money men and Fraser keep theirs.
The remaining 25% is a small price to risk to keeping the project going and keeping a share in it versus losing most of what I had and having no share in the massive enterprise AAL, JPM and others are trying to steal from under our noses.
VOTE NO IMO.
Don't be stupid and Ignorant. Why should I agree to help CF and his Goons get a nice high paid jobs and huge bonuses as well as a 7 million pounds pay off? CF was happy to rob us when he asked us for funding help and now the tides have turned and it's his turn to get Shafted. Losing 70% of my investment I have no interest in saving the rest if it means that stupid git will lose out to!
A great many of the 85,000 PI's were/are local, as many as 15000-20000. If the government cared they cold have their cake and eat it - giving an IFA guarantee supporting the project and, in turn, the investors and generating the taxes. Are you for real lecturing me that I should be pleased that the govt will rake in billions in tax and I should suck up my loss when I was told the project was PRE QUALIIFIED for IFA guarantee. Forgive me if I strongly disagree with your altruism.
Locals were supporting this project to reinvigorate the local area. That may well happen and jobs and businesses will thrive, but none of it would be possible if the locals and others hadn't supported the fund raising along the way. Many of them will be ruined even if the area, generally, gets a boost. Are they supposed to be pleased for their neighbor employed at the mine while they sit at home with bread and water.
To call or others who want to vote NO spiteful is disgusting and deeply offensive and that's putting it extremely politely. If I said what I really felt it would be account closed. We were missold the investment case and Fraser has been, at best negligent, at worst something else entirely.