Member Info for SmartPunter

Miners and oilers being thrashed across the board.

Low. Maybe 200kg NdPr over 3months

It's for offtake agreement samples.

Last reported cost to produce was 4.7

That's suspect.

Sprott do seem to perform stand out research.

RBW extract only the three valuable REE. The radioactive element stays, but it's so low level that its not considered radioactive.
Most REE mines are radioactive, but not the Gypsum stack we are processing.

Another default. 7 months...

Possibly a miss use of the word accelerate, it often is.

>>Proceeds from GM's investment are to be used to accelerate the development of Thacker Pass
On the other hand the plans and timings were before this huge investment, which will "accelerate" the development.

Newgen is near to $25m

>>Full on drivel being written here now.
Agreed, it's ******.

Makes Ghana an attractive location for car manufacturers. They already have six plants.

>>You meant to say the new suppliers when the company has gone into administration are first in line to be paid
Yes, make that clear. The Administrator has to guarantee the best outcome for the creditors, so continued profitable operation must continue.
Creditors can also to asked to continue funding if its in their best interest.

During admistration suppliers are guaranteed to be paid over above all other creditors.
This is a protection that administration provides.
Obviously RMM aren't in administration and suppliers don't want to get shafted (they come far behind secure creditors).
If the secure creditors want to get their money back Administration is probably their best option.
No more BoD or shareholders.

>>clearly your understanding in insolvency isnt up to scratch

I worked in a bridge lender for six years developing systems to manage the lifecycle of of commercial loans. The precise details/contracts of default loans the documentation of the underwriting, servicing and administration of defaulting loans. £2.2bn of loans.
Final two years the company itself entered administration and I became the entire IT department working with the Admistrator himself as he ran down the loan book to clear the debts. Company exited administration and is still in business.
I think I know how Administration works and especially commercial loans in default.

>>>Neither NewGen nor Elemental "control the asset"
Read the ***ing contract

The directors still control everything - the only way that this can change is if either or the following 2 occur

>>1. Directors call in administrators
Lenders call in administratos. See above.
>>>2. A creditor applies to the court to call their loans - then the 1st charge creditor (NewGen in this case) would be able to appoint an administator
You need a judge to call in the loan? What planet is this?

Seriously, quote the contract with the relevant sections that support this BS.

>>>If you miss few thousands dollars monthly mortgage repayment doesn't mean your million dollar house is valueless .
Another one who think it's a regulated residential loan.
Read the contract.

Mine will stay in production, owners will change.

The BoD and RMM are irrelevant, Newgen and Elemental own the mine. The BoD handed over the mine in exchange for a loan, and now the mine is GONE.

Employees will report to Newgen and that includes the previous management.

Unsecured lenders will not be paid, they come after secured have been paid.

If the loans can be repaid in a time scale that is acceptable to the creditors RMM will recover the assets. But everything, absolutely everything, is decided by the creditors.

Probably. Before elemental I thought it would take 2 years with high copper prices to payback Newgen. Now its you vomplicated to say.
Mentally, I'd write this off.

The summary of Bridge Lender contracts is:
It is not a regulated consumer loan.
There is no requirement to be nice. Buyer beware.
In the event of default, entire loan plus default interest and professional fees become immediately repayable in full.
Title of all assets mentioned in loan agreement passes to Lender.
You cannot get out of default by restarting interest payments and "catching up"
To exit default and return title, loan must be cleared completely.
Usual case is administration and shareholder wipeout, but happy outcome for Lender.