Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
In my opinion also I'm beginning to see through Align Research as an institutional shareholder. They appear to be more of a marketing outfit than an investment company. I have noted how they sell shares soon after their initial investment to get some of their money back.
As many others have pointed out who would back a business model generating very little income, while paying huge sums to Directors who are reluctant to invest money of their own!!
Have to agree with Winniemandela,
Every RNS released always has some form of caveat to it & nothing solid! Reading between the lines this could mean anything - helps to spin things out when you're making an obscene salary despite doing a part time role...
As I've come to expect from AIM I suspect our BOD have spent the last year (at PI's expense) negotiating a deal with lawyers which will suit them personally. If any settlement comes about then I guarantee they will be rewarded handsomely before riding off to their next adventure!!
I would add that BBG should recognise that the last 2 placements have severely hit PI's & it would be nice to be rewarded for investor loyalty. I agree 90% of Directors on AIM would not be considered for FTSE companies!
Zoggz,
The FCA will do nothing to address this. I suggest you & others approach the company directly. Make a note of your objections. I also suggest you email Joanne Hart who leads the Mail on Sunday Midas column - she has a team who will investigate if a number of ppeople raise their objections.. This seems to be AIM in general and it all stinks!!
https://www.joanne-hart.com/
What is Malcolm Graham Wood's role in this? He has been on payroll for a while - however, no comment or action. I'm very dubious about Align Research's activity also - they appear to whip up hysteria and then sell of part of their investment.
No financial journalist seems willing to delve further. It is like a little cottage industry where everyone looks after each other while feeding snippets to PI's to keep funding the lifestyle!!
I had a look through some interviews that James Parsons did with Malcolm Graham Wood while he was at Sound Energy. Not surprisingly when Mr Parsons was asked to comment on the share price he claimed he was an old fashioned Financier & steered away from the share price. A similar pattern here...I reiterate the BOD have stated that they are "acutely aware" of previous mis-management. We are now into November & no progress has been made anywhere despite them picking up from a previous regime.
Once again, despite the changes of Board, this company continues to miss announcement deadlines. How about announcing some news early for a change?? 1 more month this year to do some meaningful work. This BOD will no doubt be working on their next pay day!
As per my previous message I urge genuine holders to express their concerns to the company directly. The BOD, despite their claims do not seem to grasp the lack of progress anywhere. It just seems that they are happy to plod along picking up a salary. As I've also pointed out we will shortly have the excuse of the Xmas holidays which will allow a further few months of nothing happening. Proof is the lack of updates and the falling share price - it would appear that the Board's bonus is not linked to it's performance!
Calling on all long term posters out there. There must be a number of you holding out but receiving little encouragement on your investment. Now that the serial defender has agreed to depart allegedly for 30 days, I appeal for you to approach the company directly for answers. I have approached them myself & did receive a response but I am not satisfied. Many other company's Management are accountable & have invested personally. I believe it is up to us investors to target the company directly in a po!ite & reasonable manner & to ask what is being done to protect our investment??? What is the point of holding shareholder presentations if we are not on a level playing field??? I appeal to all genuine LTH to approach the company once and for all in a civil manner to demand why progress is so slow??? I see Align invest but sell out to protect their investment & I question the information they are given beforehand. I ask all genuine investors to contact the company directly & demand a response why progress is so slow.
I am a LTH & hope answers are forthcoming!
I've said it many times before - the performance of the share price is a direct link to the actions of the Management. If there are circumstances beyond their control then they can show intent & confidence by purchasing shares.
Over weekend I had a look into Energetical who they acquired as part of the Cuban venture. This appears to be some sort of consultancy doing what - heaven knows!
12 months into this & still no strategy in place or update on progress. BOD all in part time roles. Their combined effort speaks volumes! While continuing to take salary with no clear targets.
No more discussion needed - the share price speaks for itself.
Kenj,
I filtered Old Blue a long tme ago. Don't waste your time engaging with he or she. They typify what AIM is all about. Many people learn & eventually see through this for what it is & exit the market atogether.