Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
As Smartpunter continues to post on the PRE site as promised we will elaborate on the reasons why we think RBW is a short and going to Zero.
1. Chairman Zero. Shareholders in each of Petra Diamonds, Chariot oil and gas and the unlisted Alufer have been wiped out - but not Chairman Zero.
In December 2019 Chairman Pouroulis resigned from the Board of Petra and sold his 12 million shares for $40 million (?) - shortly before the stock tanked and the rest of the shareholders were wiped out!
Chairman Zero is currently transferring his shareholding out of RBW and the question is what does he know and why is he selling?
Will be interesting to see his next move. Will Sanlan disclose the sale of his shares? When will he resign? What has Berenberg said about his track record?
Awaiting Smartpunter's next post on the PRE Board for our next instalment.
Theorist i cant see what Iluka's problems with capital costs in Australia have go to do with Saltend and with due respect it is complete nonsense to suggest that there has been no cost review at Longonjo for the US$200 million capex.
To the contrary it appears to me that unlike Horizonte (and perhaps Iluka) PRE has undertaken a detailed re-engineering of the project and is looking to have it signed off by independent experts ahead of the financing.
Yes agreed it is taking an absolute age but as an experienced analyst i think you would much prefer the delay than where Horizonte has ended up.
[i will ignore your suggestion that Saltend is no more than a sleight of hand to entice Government money and refer you to Mumbles' comments.. ]
Just posted on the RBW board..
In response to Smartpunter's almost daily negative postings on the PRE board we thought we would respond in kind.
Each time Smartpunter posts on the PRE board we will provide more detail on why we think RBW is going to Zero.
the 5 High level reasons -why RBW is a Zero:
1. Chairman Zero is transferring/selling. Chairman Pouroulis has form with Petra, Chariot and Alufer and going to zero and wiping out ordinary shareholders.
2. The whole RBW business plan is based on a technology which has been around for a very long time, and has never worked!
3. Apart form the vendors of the technology nobody in RBW has any rare earth operating experience.
4. The wheelbarrow scale "pilot test work" is laughable when the proposed multi-million tonne annual throughput is considered.
5. The relentless promotion to proactive investors et al filling the register with retail investors is a sure sign that Berenberg's institutional investors have no interest in the story.
More detail to follow courtesy of Smartpunter...
Thanks Smartpunter so you are saying that the reason you post almost daily on the PRE board is because Chinaxxxx posts on the RBW board?
So if Chinaxxxx were to stop posting on the RBW board you would stop posting here?
Smartpunter in the last 30 days you have posted nearly as many times on this board (23 x) as you have on the RBW board (28x).
A little obsessive don’t you think?
We know you are a big ramper of RBW but what I am sure no-one on this Board understands what is your obsession with PRE?
Interesting point of view Lewis but not supported by the financiers in my view. The only RE projects being financed as far as i can see are the high grade hard rock deposits namely MP, Lynas, Hastings, possibly Arufura and (hopefully soon) Pensana. None of the ionic clays nor recycling nor RBW's technology play have so far been financed. Interesting that Peak looks like it will get financed by Shenghe. It appears that all the financier's money is on hard rock at this stage.
SmartPunter he is worth $150 million despite the companies he founded going "tits up" as you so delicately put it.
This wealth creation suggests that he has form in baling out of companies before they go "tits up" which could be what is happening with RBW now?
Interesting summary SmartPunter.
So how many of these Companies ( Petra, Chariot, Alufer ... RBW??) have collapsed and gone to Zero?
Did Chairman Zero sell/transfer his shares before each of the crashes?
Smartpunter So you agree that you were wrong. - there has in fact been no purchases at all by Chairman Zero? Rather a transfer to another holder. if the beneficial owner has not changed then why the announcement?
Big question for you is will Sanlan disclose Chairman Zeros sales when it sells?
Not correct i am afraid Smartpunter.
As clearly stated in the most recent RNS Chairman Zero has not purchased any shares at all. He has transferred his holdings to an account managed by Sanlan. The question you have to ask yourself is why? Does this mean that the shares can now be or have already been sold by Sanlan?
SmartPunter it appears that Chairman Zero has been relentlessly selling over the past six months. These transfers are to an account which does not require any disclosure when sold. Hence the reason why his holding is decreasing The question you should be asking is what does he know that you don't?
29-Aug-23 08-Aug-23 Transfer To Adonis Pouroulis 13.65 GBX 5,602,357 -
26-May-23 15-May-23 Transfer To Adonis Pouroulis 9.25 GBX 7,763,632 -
10-Feb-23 07-Feb-23 Transfer To Adonis Pouroulis 12.25 GBX 43,105,436 -
10-Feb-23 01-Feb-23 Transfer To Adonis Pouroulis 12.25 GBX 46,084,036 -
01-Nov-22 31-Oct-22 Buy George Bennett 9.90 GBX 435,000 35,596,294
09-Aug-21 06-Aug-21 Buy J. Peter Pham 13.50 GBX 250,000 250,000
19-Jul-21 14-Jul-21 Transfer To Adonis Pouroulis 12.25 GBX 1,328,148 76,478,864
15-Feb-21 12-Feb-21 Buy Alexander Lowrie 12.00 GBX 320,000 6,075,124
27-Oct-20 27-Oct-20 Notification of Holding Atul Bali - - - 3,657,992
30-Jun-20 30-Jun-20 Sell Shawn McCormick 3.00 GBX 1,329,186 9,316,571
30-Jun-20 30-Jun-20 Buy Adonis Pouroulis 3.00 GBX 1,329,186 76,478,864
22-Jun-20 19-Jun-20 Buy Atul Bali 2.90 GBX 1,783,332 3,567,992
22-Jun-20 19-Jun-20 Placing Alexander Lowrie 2.90 GBX 458,332 5,755,124
22-Jun-20 22-Jun-20 Placing Adonis Pouroulis 2.90 GBX 3,359,648 75,149,678
22-Jun-20 19-Jun-20 Placing Shawn McCormick 2.90 GBX 1,787,518 5,026,757
22-Jun-20 19-Jun-20 Placing Shawn McCormick 2.90 GBX 458,332 5,026,757
22-Jun-20 19-Jun-20 Placing George Bennett 2.90 GBX 1,993,779 34,726,294
29-Oct-19 28-Oct-19 Buy Adonis Pouroulis 3.00 GBX 5,464,481 71,790,030
29-Oct-19 28-Oct-19 Buy George Bennett 3.00 GBX 5,464,481 5,464,481
24-Oct-19 23-Oct-19 Buy Jim Wynn 2.60 GBX 844,688 844,688
24-Oct-19 23-Oct-19 Sell Jim Wynn 2.50 GBX 844,688 844,688
22-Jul-19 19-Jul-19 Sell Martin Eales 2.85 GBX 701,351 3,523,195
22-Jul-19 19-Jul-19 Buy Martin Eales 2.85 GBX 701,351 3,523,195
19-Jul-19 19-Jul-19 Notification of Holding Shawn McCormick - - - 8,858,239
19-Jul-19 19-Jul-19 Notification of Holding Alexander Lowrie - - - 5,296,792
19-Jul-19 19-Jul-19 Notification of Holding Atul Bali - - - 1,874,660
19-Jul-19 19-Jul-19 Notification of Holding Martin Eales - - - 3,523,195
19-Jul-19 19-Jul-19 Notification of Holding Robert Sinclair - - - 4,568,425
19-Jul-19 19-Jul-19 Notification of Holding Adonis Pouroulis - - - 66,325,549
25-Jun-19 31-Jan-18 Sell Adonis Pouroulis 10.00 GBX 1,626,016 47,217,28
Its a great shame Theo that your beloved Horizonte wasn't as diligent as Pensana appears to be.
It appears that HZM shareholders are going to be wiped out.
Keen to hear from you, as a seasoned London analyst, how you missed the Capex blowout which i hear is now heading towards US$1 billion!!