Member Info for OAPK20

Be interesting to see how much of the $3.2 million they can contribute.

At 4p that equates to 80,000,000 shares. Let’s see where the financing comes from for the exploration programme.

This time next year Rodders.

Monarch what’s your thoughts on this mornings RNS?

Good news but read again. Exploration Target v Mineral Resource.

Going full monty python.
So what ave React Group cleaned for us ?
The Trains
Yep apart from the trains ?
And Trackside
Yes but apart from the Trains and trackside what have they ever cleaned for us ?
Education Sector Cleaning
Hospital & Clinical Hygiene
Emergency Cleaning
Roadside & Hazardous Waste
Alright apart from the bloody trains
Don’t forget trackside
Yes apart from trains trackside Education Sector Cleaning Hospital & Clinical Hygiene Emergency Cleaning Roadside & Hazardous Waste what have they cleaned?
Industrial & Commercial
Void Property Clearances
Custodial Cleaning
Ventilation System Cleaning
Alright alright just go to their website!

Good luck Monarch.

Should’ve bought around £1.06 and take up rights.

Big lesson on SP manipulation to be learned.

So is the wait for extension of the validity of NSC I and MITECO to approve this authorisation and set its duration period.
Followed by NSC Board approving the NSC report and recommendation then MITECO granting granting the NSC II ?

Maybe it’ll drop in the coming weeks.

Share your frustration but there is a difference between couple of weeks and coming weeks. Coming weeks could be any week which is why I think they are waiting on production hitting 100t and the plant working at capacity during the trial mining period. The more they prove the bigger the JORC. Just an opinion.
Good luck. Happy to hold and wait.

Ok. Which RNS said couple of weeks?

Sshh, Quiet here

Just an opinion. They have consistently said " in the coming weeks " and today no mention. Im guessing they would want to hit 100t per month then announce JORC. Looks like the BOARD are fed up being bombarded with JORC enquiries. Trial mining target was production of 100t per month so I believe they want to hit that then spring the JORC.

Good update. Short term traders selling on news. JORC once 100t per month production met and pilot processing plant at full capacity.
Trial mining period going well.
Production up from 31.7t pm to 59.9t pm
RE price up 30%.
100t shipped with 210t stockpile.
And a bigger bucket ordered to dig with.
Barring tech/mech snags, the JORC at the end of the trial mining period is going to be juicy.
Good luck taking profits. Good luck holders waiting on the JORC. I’ll be waiting.

Oct. 5, 2020 400 am ET
On Monday, Ireland-based TechMet Ltd. said the U.S. International Development Finance Corporation, a state-funded lender and investor, had made a $25 million investment in its projects that produce and recycle resources like battery metals nickel and cobalt.

TechMet, if you didn’t know. From their site.
TechMet has made an equity investment and is exploring options with Rainbow to develop downstream processing capacity to turn Rainbow’s high-grade concentrate into high-value rare earth products.

Global demand for rare earths is growing significantly, driven by increased use of permanent magnets in EVs, mobile phones and renewables.
Major strategic value in creating non-Chinese supply of high-value rare earth chemicals with a captive, long-term feedstock.

Read the RNS.

Pricing

The Rights Issue Price represents a 75.4% discount to the Closing Price of 130 pence per Existing Ordinary Share on 30 September 2020 and a 41.4% discount to the theoretical ex-rights price of 54.6 pence per Existing Ordinary Share based on that same Closing Price.

The Rights Issue Price has been set, following discussions with major Shareholders, at the level which the Board considers necessary to ensure the success of the Rights Issue, taking into account the aggregate proceeds to be raised. The Board believes that the Rights Issue Price, and the discount which it represents, is appropriate.

Dilution

The Rights Issue will result in up to 6,436,651,043 New Ordinary Shares being issued and the number of Ordinary Shares being increased from a total of 1,930,995,313 Ordinary Shares to a total of up to 8,367,646,356 Ordinary Shares, representing an increase of approximately 333%, assuming no Ordinary Shares are issued due to the vesting or exercise of any awards under the Share Plans or otherwise between the Latest Practicable Date and the completion of the Rights Issue.

If a Qualifying Shareholder does not (or is not permitted to) take up any New Ordinary Shares under the Rights Issue, such Shareholder's proportionate ownership and voting interests in the Company will be diluted by approximately 76.92% as a result of the Rights Issue, assuming that no Ordinary Shares are issued due to the vesting or exercise of any awards under the Share Plans or otherwise between the Latest Practicable Date and the completion of the Rights Issue.

Key terms

On and subject to, among other things, the terms and conditions described in Part VII (Terms and Conditions of the Rights Issue) of the Prospectus, up to 6,436,651,043 New Ordinary Shares will be offered by way of rights at the Rights Issue Price of 32 pence per New Ordinary Share to Qualifying Shareholders on the basis of:

10 New Ordinary Shares for every 3 Existing Ordinary Shares

held and registered in their name on the Record Date (and so in proportion for the number of Existing Ordinary Shares then held, subject to fractional entitlements).

NM

Will there be the shadow of a share consolidation following completion of the RI and admission to market? Is this a risk factor deterring the banks over the pond? What are views? Just how deep will the spike be pushed up PI's by a Board?

Update due. Emerging world wide high demand. Production update. And that elusive JORC report could finally make an appearance.

Not long until we find out.

640,315 trade at 3.6p. Above ask