Guangdong Rising Non-ferrous, major HRE producer in China south and one of the big six SOE's, plans to cease rare earth separation production in October and is in serious financial distress. As we all know, Guangdong has a 51% controlling stake in JFMAG. Wonder if this puts in to jeopardy JFMAG ability to make the $10m pre-payment when due.
•Guangdong Rising Non-ferrous plans to cease rare earth separation production in October
http://www.asianmetal.com/RareEarthsPrice/RareEarths.html
Info on Guangdong Rising Non-ferrous
http://gsysgf.com/siteen/gsgg/1651_943.html?tid=1651
Guangdong is re diverting funds raised to build an R&D base, similar to what NRE has done, to repay bank loans. Citing low prices for its RE products amongst other things for poor performance.
http://www.asianmetal.com/news/data...und use of RMB150 million to repay bank loans
I mean seriously people, if one of the major HRE producers in China is in financial distress, what hope does NTU have of becoming a viable business???
Guangdong Rising Non-ferrous, major HRE producer in China south...
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