Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Happy to see all the comments on here. The tide has really turned against Colin. He has been running his dubious model on AIM for years without any recourse.
5 companies, on AIM, all the same- promises, slick slick interviews on Sunday Roast, baseless ramps about production and selling on to other companies.
Nothing happens- sidesteps, or one step forward and one step back.
Only thing that you can be sure of, every year- they hand over a chunk of [tax free] money to Colin Bird. I havent calculated how much it is all together. Maybe 300k in total?
What does he spend it on? We know he likes his prolonged summer vacations where we don’t hear anything from him for a while while he escapes the fierce UAE heat. We know he spends money on racehorses. If you want to see where your money is...dont go to a mine, visit Ascot!
So Colin Bird is like a modern Robin Hood in reverse- poor PIs give their money to a rich Yorkshire man who resides in tax free UAE.
I doubt any of us will ever see our money back, the least we can do is report him to AIM. The more people who complain, the more chance that AIM will investigate. I think AIM is at the situation now that so many people have reported Colin Bird- that is he is finally done in future- there will be a long paper trail that they did nothing. So lets add the pressure on them..contact AIM regulation.
Dont be a helpless victim
I share your views on Bird Kwadoko! However, he is beloved on the GLR`s BB - he can do no wrong. As it happens, for the last 2 days there have been no entries on the GLR Board. Accordingly, I couldn`t resist copying some of your inputs from today`s XTR. Hopefully, it will generate `food for thought`.
Further on the subject of Bird, on the GLR BB I highlighted some articles from the Lusaka Times which showed him involved with a high-grade villan of the first order in Zambia. The articles covered in some depth how Bird was involved with the villain in question in taking over a mine. Surprisingly, much of the press coverage has now disappeared - I wonder why, and with the influence of whom??? That said, I have still managed to retrieve a much `sanitised` version from the Lusaka Times today. Disappointingly, a lot of the finer (aka juicy!) detail is missing!Zambia : You are the company you keep: A tale of two mining companies (lusakatimes.com)
For Kwadoko: https://www.lusakatimes.com/2019/08/02/you-are-the-company-you-keep-a-tale-of-two-mining-companies/
Vulcan bob it’s a sponsored article so biased it’s blatant
Relating to the deal with KPZ and the ‘legitimacy’ of the disputed ownership. Will see what comes next month when the exploration license is up for renewal. 1st April
Could by why Kalengwa was subordinated
https://www.lse.co.uk/rns/XTR/comment-regarding-zambia-media-reports-ydfyagthppx9udd.html
Btw Vulcan bob is likely one of the same as pops/kwak multiple disruptive accounts. His history is in exact same copy pasting style and content
Shame on you.
Personally Dani no, their posting history shows one of being very anti CB ‘beyond’ the few recent copy pasted onto GLR! There is an ‘apparent’ dispute in ownership of Kalengwa but maybe one that xtr felt was worth getting a foot in the door with KPZ for. Geordie would maybe be in a better position to comment I think but to start speculating and writing Kalengwa and Eureka off by trying to read between the lines is foolish until an update is released.
Adrenalin rush you say! Definitely not an adrenalin junkie, scared of heights, speed, wasps, wife,…..but my reputation for being over optimistic does precede me…apparently
The article dates from 2019 so not really news.
It does highlight the risks posed by anonymous posters on a bulletin board - we know nothing about Kwadoku / VulcanBob.
Both Kalengwa and Eureka have been removed from Xtract website, and there is no mention of them in latest corporate presentation so not something to be unduly concerned about.
Colin's bigging up of those projects give me plenty to be concerned about tbh.
Howezap from the annual report;
"Post year end the Company decided to withdraw from the Kalengwa Project in Zambia and fully impair
the carrying value with a consequent charge to the income statement of £0.36 million"
based on the above id say its foolish to hold any hope in kalengwa contributing anything to XTR, obviously we are speculating on Eureka following a similar path but based on past experience of XTR I know where my money would be on
I believe VulcanBob is probably the same character that told someone you couldn't be CEng without a good degree - they were named on another board.
I am not trying to defend CB but I do find this character rather interesting. Someone suggested my research wasn't up to scratch so I'm polishing up on it.
Hi James yes that would certainly confirm a more definitive withdrawal from Kalengwa. I had only previously caught the action in the comments in the same year end audit which was more vague.
Question is wether it was a genuine reason given regarding remoteness and lack of power, opposed to any disputes or relating to it being the reason?
If the former there would be less reason to suggest Eureka has gone or going the same way with the last update being that they are considering options for possible ‘future’ development. Is certainly open to interpretation though. The wish imo, is for Eureka to be subject of the deal with KPZ having soured which just seems more likely for whatever reason, and Xtract can acquire the exploration and mining rights solely.
To be in the position after trial mining there and a subsequent irregular mett result that was then dismissed as a localised anomoly they were then ready, to proceed with mining and then….. Change their mind?
(Same report)
Let’s hope there is hope still for Eureka, the prospects are tremendous.
Ma i thought you were Russian girl. Call it a feeling but for some reason it crossed my mind. Maybe the way you post has a resemblance about it
"Lets get to nitty gritty is this kalengwa debacle likely to damage XtR robust balance sheet? If not then for me there is no issue."
Its an issue because it directly affects the credibility Colin (and hence XTR) has with the market. That directly affects the SP as we have seen. Its a big issue as the markets's verdict is probably "why should we believe him this time ?"
It’s no secret Dani, if you behave they will let you stay. But ok, ma it is. Btw you are wrong about Ella they are meant to be Colin Bird, which then would make you Colin Bird! But, you both cannot be as…….I am Colin Bird
Don’t believe that was the question LW. Costs have been absorbed already toward Kalengwa so no.
CB really does need to keep his emotions in check and not let himself get carried away. Do agree in that respect LW
Colin’s got nothing to worry about in every barrel is a possible bad one needs treatment or thrown out all will be revealed later.
I wonder if VulcanBob attended the AGM. Perhaps using one of his other names?
No just waiting on AA decision this month maybe.