Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
Don't forget guys that like some stated they weren't expecting the flow test to be this high as they could only extract 5bopd with Soviet technology so to gain 100bope is a substantial increase in revenue...this is a great result.
Andrea Cattaneo, Chief Executive Officer of Zenith, commented:
"The Board is delighted that, following these negotiations, we have successfully reduced our debt position by in excess of 1 million USD. This further enhances our financial position and builds on the positive progress reported during recent weeks."
mms getting desperate this happened a while back when it hit low 2s then news came out and we are where we are today, im guessing news monday or early next week and we will forget 4s and onto double digits pretty soon. hold for gold! enjoy your weekend
Live video of well C-30 civil works in preparation for beginning of drilling activities #ZEN #ZEE #C30 your prayers have been answered yet again resource hunter gla new tweet looks promising already set for more action gla
Andrea Cattaneo, Chief Executive Officer of Zenith, commented:
"I am very pleased that we are significantly reducing our debt position by taking a number of steps to strengthen our balance sheet.
Beyond the evident benefits, this should also help Zenith improve its issuer credit rating of B+ with Positive Outlook to secure debt financing at more favourable terms to support its future development.
Our near-term operational progress will play a determining role towards enabling the Company towards further achieving this goal."