Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
With my basic maths. If max 80% recoverable with 60% already gone. That leave maybe 22 billion cubic feet. Divide by 93 to get therms multiply by. 28 lowest therm price of late and multiply by .51 percentage they are buying I get 30 million quid over 20 years assuming no production cost whatso ever or cleanup costs. So presumably less than 1 million a year. Why are we even looking at this.
If 70% recoverable less than half a million a year.
Or am I missing something.
Be nice to have some more in depth information on the future plan/plans along with the quarterlies.
Clearly the fine chrome has been a significant success if they want to build a much bigger plant. Would love to know the numbers.
Getting very exciting all round though
Olderandwiser
More mistakes, being made. Desperately hoping for a significant mine life extension and them doing their job properly in the next months or so. Not that they'll actually tell us anything of course, the comms from the management still woeful.
No that was my bank moving some of my shares into my isa. Did it well in the end without a spread.
Debt dropped 5 mil with cash dropping 8, overall thats just 3 down so assume they should be alright for a while cash wise. Maybe they should start telling us results monthly again, rather than keeping everyone in dark all the time.
On the plus side they wont be getting their ludicrous bonus this year.
Fall will depend on how much of this poor performance is factored in I guess. Need to get that mine lufe extended sharpish and hopefully by a good chunk.
Only just realised this isn't the quarterly update is it so maybe we'll get a more complete update muiidle of april with the quarterly?
I'm under the impression we want to build the mine at dundas don't we rather than just selling it on? Though lets be honest the main cost is going to be a bulk loading facility not the actual mining. I'd assumed they were talking to Rio Tinto about the additional processing that they want to do offsite.
Just really need offtake agreements to get this backup imho. Someones taken several thousand tons off them for testing so someone must be interested?
I see Sky news are reporting Brockham as a fracking site when reporting the latest set of earthquakes.
This really doesn't help our cause and I'm surprised the company doesn't correct the media on this as it only turns the public against us.
E_al
Is it possible they haven't spent most of the the 1.5 million they drew down yet so can simply pay it back by saturday with some of the 2 million previous placement money used to cover any shortfall? Then they can do this placement over a longer period if they need to? Or is that not how these things work?
K3vmc where are you seeing this site pics is there a webcam somewhere?
OK thanks E_AL, well at least it will stop people banging on about death spiral financing.
I do wish the BOD in its various forms would stop making all these cockups that lose 100's of thousands in matter of weeks due to bad judgement.
Anyway onwards to hopefully progress somewhere.
Baits is the 1 hours a day at Lidsey 7 days a week or is it some daft Monday to Friday thing at the moment?