Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
My understanding of the letter of engagement situation:
EUA are waiting for CITIC and VTB to bring suitable offers to them.
We've only 'heard' of three potential suitors brought to the table by CITIC, we haven't heard anything from VTB as to whether they have possible suitors.
I would suggest that three is a good number to start a bidding war as you only need two.
I also very much doubt that VTB would be empty handed in this scenario so potentially quite a few offers/counter-offers being considered before the winner decided and the letter is signed and a finder's fee negotiated.
We know that China is desperate for more palladium to comply with its own emissions policy. Russia, with their vast deposits, would prefer to control the market and sell it to them at a premium rather than just collect taxes.
An example of this control of the market I read about in the last week or so (don't remember where but it wasn't twitter!) Norilsk Nickel recently loaned three tonnes of Pd from its stockpile to alleviate the global shortage but expects three tonnes back, which the global market will have to find from somewhere.
As other mines, including Montechundra, supply the market a portion will need to be filtered back to Norilsk to pay back the loan thus ensuring the ongoing scarcity of Pd and maintaining the high price.
With the value of Pd soaring helped by the Russian control of the market what price would have to be paid for the replacement Pd and what price would it be when it is eventually sold?
No need to say then that the numbers involved here are huge.
My initial preference was a partial sale and hold on to WK for continuing dividend.
Then when the shares were suspended I changed to preferring a sale of the whole.
Now that I've calmed down a bit It doesn't actually matter to me as both are win/win situations.
My wife can have her holiday and new bathroom and I can have peace of mind, which would be priceless ;-)
Also in BMN.
Thanks PIface, I did look there but couldn't find it - probably missed it there too.
Anyway, I've downloaded it now so I can view it at my leisure.
Cheers and good luck to all the good guys.
Thank you SickOfTheRatRace. I hope you're able get out of it with the proceeds from here.
I had to retire early due to injury so no longer part of it.
I probably saw that link but was looking for the initials ACF that's why it didn't register.
I've tried trawling through previous posts looking for the link but it's the proverbial needle in a haystack.
Interesting though: some really good stuff on ISA's and tax advice; tips for other shares - a couple of which I wish I'd have funds to buy; some unfortunately unwell; someone getting married; people hoping to buy cars, yachts and property; links to other reports but not the one I'm looking for. Unfortunately, all marred by pages and pages of botfly dross and a lot of green 'filtered' boxes
Can anyone oblige?
Found this re. Impala's buyout of North American Palladium.
Click on the first title in the list. If you scroll down to About Implats it mentions mines in the Great Dyke.
https://www.globenewswire.com/news-release/2019/10/07/1925980/0/en/Impala-Platinum-Holdings-Limited-to-acquire-North-American-Palladium-Ltd.html
With figures like that even I would be a millionaire. (£3.89/share is my magic number)
I'd fall off my chair if that happened.
We can all dream, like winning the lottery about what we would do with various levels of winnings, whatever it turns out to be I'll be in profit so when it arrives in my ISA I will be happy and proceed accordingly.
The rest is just a dream, not saying it's impossible but still just a dream.
Another restless night in the hammock for me.
With all the furore over citic we need to remember the Russian investment bank also involved in courting potential buyers on a success only basis.
Citic is only one side of the story. If they have three potential bidders all well and good but the VTB side of the equation has not been leaked so we don't have anything like the full picture: not that we ever do.
An earlier poster referred to the bod meeting today, was this a scheduled meeting or one convened at short notice to move things along in response to the leak.
My hope is that the shares remain suspended until sale but things rarely turn out as I'd like but I remain confident of a very favourable conclusion and no amount of crawling botfly larvae will dent that.
Before today I always favoured the partial sale/divi option (assuming there ever was such an option) but with a raised sp I feel it could be messy with holders selling and the sp retreating reducing the value for those that choose to hang on.
Now we're in suspension I tend towards the full sale option.
Any thoughts?