Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
Clearly the company need to explain the current position without hiding behind 'commercially sensitive'. Good opportunity to update on implications for income as a result of 2024 deadline too. Transparency v obfuscation. Honesty v , better stop there.
Thanks for that. So there are three elements to the money receivable for a meter:-
- Initial cost for 500k - received in prior years
- Activation one off fee
- Activation recurring fee.
So JC has stated - 'First 500,000 pre-paid licenses have been activated'. But that is contradicted by no material revenues in 2019. Just makes the use of the word activated look deceptive, no other word for it.
My god, no wonder lti ran scared of asking the question. So essentially, the situation is no different than it was before JC tried to paint it as something it wasn't. Boy, what a company. On top of that 'oversight', who'll bet those anticipated Indian contracts will be backburned (ie lodged) after the placing. Think Arden probably responsible for current shenanigans and Twitter pump too.
Old Timer
We all know how much you like to pretend you're Cyan's mouthpiece on here, so stop being deliberately dense and publish the answer, or isn't it the usual smoke up JC's the arse response that's become your trademark?
A reminder:
From Bull.Bear 11:23 Monday:
I believe the statement is not only misleading but untrue. I, therefore, suggest that Longterminvstor and/or tonyj (who appear to have communications with CC) contact JC and ask for urgent clarification, maybe:
‘I note the statement on page 14 of the 2019 Interim Results, which reads:
“First 500,000 pre-paid licenses have been activated, these were purchased
from Connode, prior to its acquisition. Some revenues already taken in
previous years”
My understanding is that royalty payment is triggered each time a license is activated. Please confirm 500,000 licences have been activated and that royalties are now being received for those 500,000 licenses.’
They are well met.
Come on lti, you're normally very keen to be first in with any questions for cyan old chum, why so reticent now? I'm sure JC will be able to contrive an answer that isn't totally humbling. Or can he? The longer this lingers, the more it stinks.