Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
Https://mines.rajasthan.gov.in/dmgcms/Static/files/bhukia%20(1)_rotated.pdf
Reply;
1. No further appeal has been filed by MMIPL in higher bench
2. The department has no information in this regard. However, a caveat has been already filed in Honourable Supreme Court and Double Bench of Honourable High court
3. Indo Gold, an Australian Company the joint venture partner of MMIPL has sent a notice against breaching the Indo-Australian treaty. The reply of notice has been sent and said claim of the company has been rejected by Government of India.
4. Beyond the scope of Tender Document.
It’s a document with bidders queries, there’s a fair few questions in total. On the first section after a few facts are stated, the first 4 questions and answers goes like this ;
1. What is the present Status of the matter after case of MMIPL was dismissed by Rajasthan High Court?
2. Whether MMIPL has challenged the Order of Rajasthan High Court dated 27.09.2023 in Hon'ble Supreme Court? If yes, what is present status?
3. Whether MMIPL has moved to any international Arbitration/Court after pronouncement of Judgement by Rajasthan
High Court dated 27.09.2023?
4. Please provide more information on 'treaty' between the Company (IGPL/MMIPL) and Government?
What is the possible implication of outcome of any Court settlement or Arbitration award/settlement on
process auction and later on Preferred/Successful bidder with mining lease?
This clarification will help bidders to know about any litigation annexed to the Bhukia Gold Blocks and about its implications in future.
We may not hear anything until the end of march unless something significant happens beforehand. If the government simply doesn’t respond as I suspect will be the case, any news other than a notice of arbitration seems a bit unnecessary.
Pat giving the GOI plenty of time to respond may help with the case long term, throughout this entire process MB has clearly stated he would prefer to come to an agreement and develop the mine over pursuing a claim.
I don’t know exactly how these court cases work but our consistency and patience sure makes us look like we’ve been reasonable while being treated unreasonable
IMO we can’t expect India to give a categoric no, even if it is a categoric no. Going off their previous form with us it seems they just want to let things drag out for as long as possible in hope that investors will bail out making it harder for Pat to negotiate and hold out.
The amount of time we have to wait now is nothing compared to them kicking it down the road throughout the pandemic, they need to wake up and realise many of us aren't going anywhere until we get our return on what is a great asset.
Newbie or not, I’ll be right beside you on the ride up, so long as you don’t sell out.
You can add “we’re terrible at guessing time scales” to that list. 😁 apart from that, thank you for the information you guys provide, makes doing my own research much easier. PAT is going to be my first investment to make me serious returns, I’m sure of it!
Iv been watching this board for years, I’m not knowledgeable but I feel Iv learnt a lot from you guys on this whole industry and how things work. That being said, anyone new comes in and posts, if it isn’t all rainbows and pots of gold, you trash them. Yet you never trash the people that are constantly saying it’s going to blow next week(and have been for quite some time), I guess if you say that every week you’ll be right one day😁
If we truly believe this is what we think it is, why are we scared of deramping? It can only help hold the price down for us to keep topping up🤷🏼♂️
Just the certainty of the direction makes me feel much better, they had their last chance to be reasonable, legal case it is.
Worse case scenario it’s a few years, Iv been here a few years so I know what it’s like to wait, but we didn’t have the funding, extra legal support back then. Also Covid gave the GOR an easy way of making us wait, probably hoping we’d give in and accept a lesser deal.
With the other projects progressing nicely in the mean time, the sp will surely raise as the court case progresses? What information from the court hearings would we have access to does anyone know?
Right, pretty new to investing and this question applies to more than just PAT but best belongs here as I see a lot more talk about big “buys and “sells” on here than anywhere else.
When you guys see a big transaction and your waiting on whether it’s a buy or a sell, surely for someone to buy, someone has to sell? Vice Versa?