EDITOR: | September 27th, 2017 | 7 Comments

George Bauk on the evolving heavy rare earths story of Northern Minerals

| September 27, 2017 | 7 Comments
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George Bauk, Managing Director and CEO of Northern Minerals Limited (ASX: NTU) (“Northern Minerals”) in an interview with InvestorIntel Senior Editor, Peter Clausi updates us on the Browns Range dysprosium rare earths project and his recent financing. Stating that mining is well underway and is expected to be completed by November, George adds that Northern Minerals “…fabrication is on track in China with a first shipment arriving in October.”…to access the complete interview, click here

Disclaimer: Northern Minerals Limited is an advertorial member of InvestorIntel Corp.


Kelly Bird

Editor:

Kelly Bird joined the InvestorIntel Corp. team as the Relationship Manager in 2016, and was quickly promoted to Creative Director. An interviewer, producer and video ... <Read more about Kelly Bird>


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Comments

  • Bill Keenes

    A little bit of research please – this company first promised to be in production back in 2015. Since then one time line and promise after another has been broken.

    One of the key ways to judge management is to see if have they created shareholder wealth.

    The answer here is a resounding NO.

    Both Twiggy and Gina R made the Chinese pay a high price for what they sold them – and neither gave the Chinese control. Compare that to what has occurred at NTU -!the Chinese have paid peanuts and gained a controlling shareholding in the process.

    Meanwhile shareholder wealth has been destroyed under the stewardship of George Back – whilst he has continued to be paid the best part of $800,000 for running our company.

    How does George Bauk justify such an outrageous remuneration package.

    Now what do NTU shareholders have to look forward to – a small scale pilot plant. So much for the simple metallurgy which promised a quick pathway into production.

    Shareholders wealth has been eroded, meanwhile NTU executives have awarded themselves huge bonus share packages so they don’t feel the effects of their dilutive management decisions.

    The fish always stinks from the head!

    October 1, 2017 - 5:31 AM

  • Chris

    Think your being a bit harsh on what I believe is an extraordinary achievement by NTU management to keep the dream alive, although things are looking even more precarious for the company as Dy price wallows at multi year lows with no sign of recovering. But never fear as the Australian tax payer will be footing the bill for this “R&D” project to build the pilot plant and cover the continued operational losses of the three year period.
    Maybe the blame should be laid on the analysts that have been spruiking the HRE story instead of a management team that have been doing their best under extremely difficult circumstances.

    October 1, 2017 - 8:29 PM

  • Bill Keenes

    Maybe the blame should be laid with NTU management who courted the Chinese.

    Fancy establishing a business plan where you produce a product which is then sold to the buyer who set the price that they pay for your product. That’s right the buyer sets the price.

    October 2, 2017 - 9:09 AM

  • Chris

    Obviously no one else was interested enough in NTU product to provide the funds except for Chinese companies. Makes sense considering most down stream processing of HRE is confined inside China.

    October 3, 2017 - 5:38 AM

  • Bill Keenes

    Really – so now you want to rewrite history. In 2013 an MOU was signed with Sumitomo Corrporation of Japan.

    The Japanese were certainly interested and if Kevin Schultz (NTUs Chairman at the time) had on had his way, we would have signed with Sumitomo.

    This current management team cast KS and the Japanese aside in favour of the Chinese. They have let the Chinese wolves in the front door and now we are all paying the price.

    The Chinese have reneged on one funding promise after another (with excuse after excuse) and yet this management team lines up for more of the same.

    October 3, 2017 - 8:58 AM

  • Chris

    Not trying to rewrite history Bill just stating the facts. So where was Sumitomo offer to provide funds for the project? I believe there was an offtake MOU with Shin-Etsu at one stage, yet again no offer to proved funds for the project. At least the Chinese companies were willing to finance the project along with off take agreements. Without Chinese money NTU would not have been able to make this far.
    Regardless, it all comes down to the viability of the business plan. And unfortunately to date I’m yet to see one viable business plan from NTU. HRE story is yesterday’s news. It’s all about the LRE’s now.

    October 3, 2017 - 5:44 PM

  • Bill Keenes

    Great interview here with John Borshoff – have a listen to what he has to say about the Chinese from around the 15:00 mark. He has nailed it .
    https://m.youtube.com/watch?v=70qFTPdewSk

    October 11, 2017 - 3:02 AM

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