Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
Well i nearly pulled the trigger towards close... some positive contract news coming in.... but still think this has more to go.....
Great trading opportunity the way it climbs until midday.
I have about £50k i can pull out and drop here for a couple of months.... just a waiting game now...
I’ve been in and put of PFC for years... first bought in over £9.... lost a ton when the sfo started... but overall made money by trading it.... from £3.75 to £6.... currently out though.
Personally i think it will get worse before getting better... 3 day rule... let the dust settle by monday for some stability... if it goes below £3.80 i’ll buy back in....
The SP is still above what it was at the start of the year... why all the panicking?
When i saw the drop yesterday it felt a little like dejavu... but then released:
1) the results were good - the market obviously expected better
2) the current SP was priced on speculation - now its on facts - so a bit more security
3) The current SP is still above what it was a month ago... and more drills commencing next month
But on the flip side- i am waiting for another RNS about placings.... but surely they will only do that after some more positive news... so we have a bit of time!!!
Its only down 10% from its peak... last year it was 80%
And as long as i am in profits i cant complain!
I top sliced at 2.05 before - if it gets to that level again may have to sell a few more and then hope i have another buying opportunity.
I started around 1.1 back in Sept 2017, at one point i had an av of 1.86 with over 5m shares.... Then last January I was suddenly down £25K+. bought a couple more in the 0.8 then 0.5 region....
Kept them - and sold my first set a couple of weeks back for 2.05.. and got my av down to about 1p now.. with about 2m shares....
I plan to sell my next chunk at 3p.
I had a paper loss of over £20K this time last year...... I remember waking up on the Monday morning - reading about Carillion thinking wow lucky escape and then saw my share value drop here at 8am..
After feeling sick for an hour (while kicking myself for not selling as it went up from 0.7 to 1.2 then down to 0.7)
Accumulated a few more and now sold half my holding - down 2.5m