Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
Hi Flyingfarmer I used to fly an Airwave Klassic, now my avatar. A hang glider, not paraglider but I won’t hold it against you. I used to be a keen xc hound, best distance 100km, which is nothing these days. Just been to see the Bluebirds get smashed by Man City and lost my bet (6-0, we lost 5-0) but have learned to keep the stakes small unlike my ill-advised punts on stock market turkeys like MONI and Afren. As for Genl, we’re waiting for news. Hopefully to arrive before Bunks is forced to cancel the crimbo party again.
It’s simple really. The company is in a net debt position (soon to be resolved), it’s assets in Kurdistan are of questionable value owing to political instability, it’s one time jewel in the crown Taq Taq has tanked tanked and many investors have swallowed massive losses since the sp was 10 quid. I can’t see the BOD with it’s newly avowed caution on spending putting any cash into a tie-up with GKP. Neither will they make any share buy-backs, they wasted money previously doing that when the sp was £7.50. One possibility is a share split at say 3-1 to bring us back into the. arms of the penny share grannies. This sleight of hand wouldn’t cost the company anything, might increase liquidity and it brings certain psychological advantages. In the long term we’ll be ok, barring of course a general stock market crash or another payment drought at the hands of the KRG, or Baghdad crushing the Kurds and tearing up the IOC agreements as previously threatened. I’m now holding 60k shares here, 10k in GKP and last week bought 20k CEY at 89p where I’ve never previously failed to lose money so obviously hoping for better luck this time.
I see I’ve again picked up the unwanted prize from the sp comp. My forecast was low but I ducked my instinct to go lower (and nearer as it turned out). Has Hawkey found an inter**** connection for the sp and thrown himself over the side of the ship like that bird did the other week? I’m still holding 40k shares here and 10k GKP so share the pain.
Sounds good to me Hawkey. I went on a cruise some years ago on the Thomson Dream. There were lots of tattooed blokes from ‘oop north drinking cheap John Smiths bitter and the maximum bet on blackjack was 10 quid so I looked like a high roller. Unfortunately Mrs klassic and the klassic offspring are too posh to appreciate good value so we won’t be going again. Have a good trip. As for G, it’s been a stellar year for the sp., spend it wisely, as George Best would say.
Sweet thoughts Hawkey but until B.B. starts pumping oil and Pesky beer production is ramped up we’re not going into sp hyperspace. And forget a GKP merger, the cash should be spent more wisely i.e. not in war torn Kurdistan or tin-pot Somaliland.
My winning forecast this week leaves me “in much reduced circumstances” and therefore unable to celebrate with my usual gaiety. Club tradition however demands some attempt at sagacity no matter how lacklustre in feeling. The result of sellers outweighing buyers will, obviously, be a diminution in value of the asset. This painful downturn will persist until there is a reversal in the trend. But when? As my mate from Corinthians said “we must fix our eyes not on what is seen, but on what is unseen”.
Come on lads face facts. Trumpwars are creating panic contagion with as much lasting effect as his blunderbuss rhetoric. We’ll have 350 by March next year. But for now the trend is down. Klassic 228 broadland 265 withoutt 289 mark888man 291 Bunks 299 Hawkey 305 ocelot 310 Rangor 339
Well put Mr Lemming. On the subject of monthly updates we will continue to see the figures from DNO until they too decide they cannot bear the odour of publishing payments from their now reliable client, the venerable KRG. That will give us the income from the Tawke licence (Tawke and Peshkabir). As for Tank Tank lol wouldn’t be great to see an uptick in production as hinted at, after it’s collapse from gusher to watery dribbler.
JL yes still struggling to monetise those expensive gas licences. Presumably expecting another extension on development deadline (Feb 19). Not the fault of this BOD though, their conservative strategy for resolution of the mess they inherited is laudable. In the (very) long term a take-over is the key to unlocking value. I’m still holding 75k shares in G and 10k in GKP and will accumulate more barring a collapse in POO. Keep up the good work JL and Hawkey.
Congratulations JL, this is a game for patient gamblers. I think I’ll extend my stay beyond the long held dream of 3 quid. This plateau at 250-280 has lasted long enough to provide a safety net. Provided of course there is no downward oil shock which puts the KRG off paying us. Next big news? My money is on drilling for the low hanging fruit at Bina Bawi, that will finally put £3 in the rear view mirror imho. Good luck all.
JL ok I’m in Beat****Fred on my way to the ale house. £5 on Belgium to draw h/t win f/t at 6/1 and £5 on them to win 2-1 at 10/1. I’ll toast you if I win. But after much soul searching I couldn’t bring myself to follow your double against our boys tomorrow. Anyway now holding 45k shares in G and 27k in GKP. Payments imminent, POO still rising despite a warning from the doom mongers in Barclays and drilling news very soon. Good luck all.
I with you on this, thoroughly sick of our politicians failure to implement the plebiscite mandate. Ironically though I’m looking forward to spending more time in sunny Southern Europe. Anyway enough of that, the recent sp fall has cost me some profits so I’ve reduced to 25k shares. Good news on Peshkabir, Bina Bawi oil, Taq Taq or gas sniffing will re-ignite us. The prospect of an unrestrained trade war is however the new threat to a recovery. JL what’s your football bet on Wednesday? I’ll match it for a bit of G solidarity.
I guess most of you have seen the recent Numis downgrade but I’ve pasted the link below. I think they’re correct, the sp will probably not increase until we get news on the monetisation of our assets. Peshkabir drilling update next then hopefully easy oil from Bina Bawi. Maybe Taq Taq might cough up a few more spoonfuls. In the meantime the sp is likely to drift, but by how much? I’ve sold half my holding over the past few weeks but still in for 50k shares. http://www.proactiveinvestors.co.uk/companies/news/199399/genel-downgraded-by-numis-but-the-broker-still-sees-substantial-upside-should-projects-get-off-the-ground-199399.html