Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Stunning, not.
Loss of $72m after taking impairment hit basis prospective sale valuation. Said buyer still no show..
Presume 'sale' price basis something better than nothing the way they are heading with looming 2021 lease termination with nothing having been done.
https://beta.companieshouse.gov.uk/company/04560068/filing-history
One just hopes the directors & cohorts go on to have the life that they fully deserve & feel at ease with themselves...
Unfortunately their malfeasance will be like water off a ducks back, hides of rhinos all, glad to have escaped any justified retribution from creditors and shareholders. Will be really good to see the bondholders in a gtz situation as well by listening to these clowns and securing their 'bargain'. But most likely it's all been funny money in play, except ours.
Bentley Field 9/3b
Strong Buy if you can get back aboard XEL via the Whalsay Gravy Train......
Let's suppose the current Corporates (previously the Bond Holders) wanted to encourage PIs' to join in again.....
Would you play ball a second time ?
Bentley was a circa 250MMstb field in 2012.... When PIs got written out of ownership
Now Bentley 9/3b is claimed to be 912 MMstb (P50), 10°-11° API oil with well-connected and well-defined reservoir with excellent aquifer support.
Nice little earner for those Bondholders - with relatively limited *capital input at the time - who took possession...
*And relatively limited capital input in the interim..... #shufflingpaper !!
Current Investors - Blackrock - QVT - Warwick - Whitebox - will no doubt max their gain from all that PI 2009/2010 XEL investment/support.
Once Brent Crude returns to better entry level....
Here's the Whalsay Teaser for your investment..... Best if you go in as a Bondholders this time !!....
https://whalsayenergy.com/wp-content/uploads/2019/10/Whalsay-Energy-Bentley-Teaser-08102019.pdf
GLA previous holders.... Oilf.
Prefer to approach the OGA saying shareholders got s*rewed last time by these Bondholders with OGA connivance that promised everything to secure a licence extension from OGA and have delivered nothing in 3 years now to the extent the licence sure to come up finally for delivery elsewhere next year.
When most all the previous exec clingers on have jumped ship elsewhere from Whalsay except the remaining resident 'expert' Bower. best try to secure new funder but increasing problem in Scotland now re O&G expansion with wee krankie and her cohorts still around building windmills.
Just noticed this bb light up again after all this
Just noticed this bb light up and my palpitations started all over again.
Let rotten dogs lie please!!