Lewis
You are misunderstanding the valuation, project financing valuation is based on the project NPV, there is no direct link between that and the SP (which is sentiment, at present), The comment about 60p was an illustration of the Project valuation in use for funding.
Lessee
Ionic Earth miner is commisioning their mine in Brazil
https://www.bnamericas.com/en/news/serra-verde-receives-operating-license-for-brazil-rare-earths-project
RBW have raised over 50% of their equity funding and a commitment for the bond part from the DFC.
Three hard rock projects failed/cancelled this year.
Leesee
I'm only discussing RBW here because *you* persistently brought it up.
>>results well overdue
Results due this quarter, so not over-due yet.
The mining sector has been dire this year, not much to talk about.
I am expecting (hoping) a boom at the start of the year, however. New year will get the investors out and things will perk up.
He and George have just increased their shareholding, as has been documented.
Why would they sell up?
The MRES (Mixed Rare Earth Sulphate) has been proven in the pilot plat and has 60% pay-ability at a cost at a proportionate cost of of the final oxide production cost ($31/kg).
The project is de-risked.
Funding on a project basis, over 50% of the equity (40:60) share of the project cost ($295m) has already been provided by the DFC and a promise to take part in the bond by the DFC .
There may well be no more dilution from further raises (which have all been at a premium to the current share price).
None of this is reflected in the current share price, other than its stability (its up 40% on YTD, but not overpriced even for the MRES scenario)
MG is about £25-29k. As electric car go, its cheap.
He founded Petra diamonds which was worth multiple billions for a decade.
No idea why he quit and the company sp went tits up.
The mines were producing the biggest diamonds in the world, maybe they gave run dry, multiplecwarning that diamond production was down.
It's got naff all to do with RBW, he's registered as owning 14% plus two other companies, his net worth is $150m +
George and his team have built over 20 mines and processing projects, including a REE mine. More relevant.
There is no timetable.
If you know how long it takes why are you asking?
Https://www.marketscreener.com/business-leaders/Adonis-Pouroulis-06578L-E/biography/#:~:text=Summary,Chairman%20for%20Alufer%20Mining%20Ltd.
Lessee, if you could write Plain English instead of gibberish I might bother to reply.
I've stated that Ionic rare earth miners would be able to compete with RBW. Well looking at IXR DFS, their costs seem way higher than RBW ( $30/kg inc gypsum offtake) at $46/kg. Apparently this is for MREC which they claim 70% payability (optimistic).
Looks like another mine dependant for feasibility on Adamas optimistic future prices trend projections ($150/kg in 2026).
Even ionic clay miners will have to follow a fine line of feasibility in their hopes to compete with RBW
https://www.listcorp.com/asx/ixr/ionic-rare-earths-limited/news/makuutu-definitive-feasibility-study-2851239.html
Beneficial owner has not changed as stated in the RNS.
As the buys and transfers point out, Adonis and Bennett have been buying.
Hence the latest RNS showing their beneficial ownership now stands at over 20% between them.
The RNS being a record of truth.
Weird idea you have about the chairman of RBW, he has recently raised his ownership to 14%., George Bennet owns over 6%.. remarkablely high for a company that had raised over 50% of its equity funding for its first project. As for the lateness of the CIX/CIC backend pilot plant producing RE oxides, TechMet assured Congress that it would start soon, and they have previously produced RE oxides from other sources and phosphogypsum. Optimisations take time.
https://www.lse.co.uk/rns/RBW/conditional-shares-issue-share-options-exercise-vbq3n7he64z8ec6.html
If the administrators take over shareholders involvement will cease as they are wiped out.
Company could survive, unlikely, but it will be nothing to do with us.
Given the capex and opex, little upside potential to SP.
Why I sold out at 80p long time ago.
Delay to DFS (8 years now?) Possibly caused by the difficulties proving the project viability/feasibility
Defacto ban was already in place.
Three western miners/processors have failed to an extent with the processing tech. That doesn't bode well for others trying to raise finance without proven technology.
RBW are not a miner and we don't do geology.
They do produce the whole chain from raw resource to final magnet metals with LCM.
Western companies have struggled with the refinery process.