Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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I'd thought, with a sniff of incoming Manica gold, we would have seen a small rerate....
Seems the market needs to see more
Not too sure how many would know of incoming gold revenue unless you were already invested. An RNS will get a wider circulation and hopefully buys will then start coming in??
I would think those that sold to day need the money as they had to fill up the car with fuel :)
True, I had expected one this morn but it seems the company want to see more progression.
I know, Pre- lockdown it was 17 quid to fill up my bike tank. 34 quid yesterday!
Got a feeling that Colin is maybe occupied elsewhere - which is a shame.
Also got a feeling we will get drill results in the next 48 hrs and that might inc a bit about manica - which will be a shame as well, as it deserves its own rns.
Finally we have results in the next 2 weeks.
I wonder when we will get eh Q2 alluvial results ?
Now, with any uncertainties out the way as to wether the company have entered into any kind of negotiations. The AGM is likely on course. If, of course that it falls back in line with pre-covid date. Accumulative Q1 and Q2 could be dropped prior to AGM being announced. End of last year it immediately followed half year report.
Nether the less, the full audited results for ‘21 are due anytime now.
With an impending asset sale now potentially being pushed back, is there a legitimate reason that a company would not publish its yearly financial report and defer it until after a sale has been made?
Pre covid, the final results should be announced by end of June. However, Andy Mills said that companies can delay final results for 2 months due to covid - under special dispensation.
As the AGM should also be held by end of June and at least 3 weeks notice is given (it can't be now) I suspect we wont get the AGM notice or final results for a few weeks yet?
Final results and AGM have always been announced by now in previous years. So I assume CB is taking advantage of the option to delay.
Thank you Andrew. Yes maybe that is the case then
Back in ‘20 the notice was on the 8th as you say would have had that by now.
So If I understand correct the Special dispensation would be the only legitimate reason to defer audited results.
Might be a daft question but do audited reports ‘have’ to be reported on time normally?
My understanding is that the full year accounts have to be published within 6 months of period ending ie 30 June and that the AGM must be held within 6 months of the period ending (30 June) and we had to have at least 3 weeks notice of AGM. Happy to be corrected.
I assume that info is correct and is a legal requirement?? FCA rules??
A month ago, I said that the AGM/ Final accounts will be announced soon, Andy M showed me the FCA rule giving 2 month extension. Obviously it doesnt mean everything will definitely be delayed by the full 2 months... but I suspect CB will take advantage of most of it !
I think it’s within 6 months of the EOY ie period ending the 31st of dec - not June. Last year the annual results were end of June and can’t see it being any different now. They did take advantage for the agm and the actual filing of the full accounts, but the high level accounts were inc in the end of June final statement.
I think this is still the hard rule for aim compliance. So the 27-30 of June for the RNS.
"I think it’s within 6 months of the EOY ie period ending the 31st of dec"
Yes. That is what I meant 31 dec + max 6 months = 30 June for final year accounts.
Do you think is likely they would release last years full report, Half year income and notice of AGM all together?
Only apparent reason I can think of why first quarter results were not released.
Poor results are poor results and will not fool anybody however packaged. Not saying they will be poor of course but at least all grouped together particularly if they take advantage of the dispensation l, so as to include first income from fairbride on top however significant. Fairbride income in black and white will overshadow any shortcomings from previous reports.
That’s just one cynical reasoning, any thoughts on how else it all may be reported?
I would assume Q1 results will be released last week June or early July as they are probably not great. Q1 last year was released 2 July. Q2 were poor and released 5 October. Both over 3 months from end of reporting period.
Q3 and Q4 were good results and released 2 weeks after reporting period.
So chances are then the income will not necessarily factor in any way alongside audited report then.
Anyone hoping to attend AGM?
What are the key points we could hope to get answers on?
What’s happening with plans on further exploration once Eureka is producing? It’s such a big deal and a shame it’s parked up!
Chongwe? In case any members missed Andmillsy post recently with emailed reply from xtract answering that question.
>> Chongwe was an opportunity where a small project owner asked the company to assist and understand what he had and where we might share benefit if there was any potential. It was more exploratory than a deal, but our findings are fairly positive, which if confirmed, will take us into an ongoing definitive arrangement, which of course will be announced.<<
Any other small JV’s in the pipeline?
Are xtract hoping to retain the exploration rights on other tenements at bushranger if and when sold? Can’t imagine what else they would divulge regarding the project.
hzap, a quick search of the zambia mining cadastre shows 5 more concessions , not including eureka, kalengwa or chongwe . https://portals.landfolio.com/zambia/