Oh dear.... this morning's news was no better.While I'm glad I...

Oh dear.... this morning's news was no better.

While I'm glad I baled out over the last couple of weeks as previously posted, it hurts to see this company going down the gurgler like this, as I have been an ARU holder for many years, and had quite an emotional attachment to the company.

I have absolutely no desire to see others hurt or lose money, and take no pleasure at all in being relieved to be out of it, but surely this company is now in a position where it cannot defend itself from a cheap takeover bid?

Mind you - whoever does try to take them over would need to have a LOT of available funding. They would also need real mining and rare earths expertise - not the never-ending BS that Ward and co have been going on with for the last few years. Somebody who knows how to get things moving and actually get the stuff out of the ground, then build a refinery, then get product to market.

ARU are SO far away from that target now, and having slowed to virtual non-progress due to lack of funds, they are sitting ducks. Just building the plant in Whyalla is going to take hundreds of millions of dollars that they don't have, and have no prospect of getting.

JP Morgan will be playing them like a violin, and I wouldn't be the least surprised to see a private equity takeover wipe them out in the near future. Maybe a client or partner of JPM, no doubt.....

The rare earths boom will be well and truly over by the time, if ever, ARU get to the party.

I'm truly sorry for current holders, but this writing has been on the wall ever since they announced the cancellation of the cap raising some months ago. I really can't see a viable way forward for them, no matter how much spin that Ward and co try to put into their announcements.

OK - I really don't want to appear to be gloating, and would love to be proved wrong. But I think I'd better not post any more here despite having been an ARU follower and holder (large amount) for years.

Good luck all - sincerely.