Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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DP go crawl back under your rock, you’re getting tiresome. What do you care, you own no PRE shares,
History does not excuse their criminal act. If they ever get identified I for one will be pushing for Legal action to be taken.
Manipulation is an offense and in this case it did do a huge amount of damage to the Companies ability to raise finance.
That CR at 120 GBP should have been at 200GBP ! Hamilton and Thomas called the Dump before it started they are as guilty as hell.
It's history gents. They have filled their boots and will now be sat back watching the SP accelerate as imminent news lands.
Six months of it and we only just now learn the technical term !
Is there a term for "Pass the parcel" where the shorters sell between themselves while dropping the SP ?
You learn something new every day: whilst we have be complains about pump and dump, the actual term was “short and distort”, who wud uv thunk!
Short and distort[edit]
Main article: Short and distort
A variant of the pump and dump scam, the "short and distort" works in the opposite manner. Instead of first buying the stock, and then artificially raising its price before selling, in a "short and distort" the scammer first short-sells the stock, and then artificially lowers the price, using the same techniques as the pump and dump but using criticism or negative predictions regarding the stock. The scammer then covers their short position when they buy back the stock at a lower price.[28]
With Pensana discussed in the Sunday Times, they may get a lot of interest tomorrow. PRE has 22% ownership by the AWF which is a Sovereign Fund. From 8 October to 15 October the top 20 shareholder bodies bought nearly 500,000 additional shares. Vidacos was the highest at 236,000 additional shares.
Dumbpunter: Good point - but I don't agree that all the nominee account holdings in PRE are all armchair investors. I believe the collapse of PRE SP since June has allowed undeclared corporate financials to build up substantial new PRE holdings at an artificially low price. There are now 21million more PRE shares held in the top 5 nominee account than there were in July - that's over 10% of the register. And that's just the increase - who knows how many shares they started with?
Off topic - Bacanora - you're right, it does illustrate how difficult it can be to organise nominee holders to fight for better takeover terms. However, I was astonished to read how fast the Chinese are buying out western miners like Bacanora to build their lithium supply chains - "We are in the midst of a global battery (for which read lithium) arms race, [in] which the US is presently a bystander.” And Britain was late to arrive. Worldwide, 181 (battery) gigafactories are due to be open by 2030, of which 88 were already up and running in 2020, and 136 of these are in China, which has been opening them at the rate of almost one a week. Continental Europe can muster 16 and the US 10"
If China plans to similarly commandeer rare earths supply chains, Boris needs to get the Govt off it's fat a*se pronto.
Dumbpunter. Give it a rest fella, 69p to 110p in a few weeks. We are all bored of you
Dumbpunter: RE "AFAIK there has never been TR1 on PRE because there no outside interest in this share whatsoever. Its the founders, Angola and an army of armchair investors.".
For once, I hope you are right - if as you say, PRE has no corporate investors, then you have to accept that your "army of armchair investors" = the nominee accounts. As of today, the total in Nominee Accounts (or is that the PRE Barmy Army?) is 125M shares. That's 56.2% of issued shares.
Roll on the takeover matey - the Barmy Army's in the driving seat and calling the shots.
Astro999 - you didn't get any response to your "maybe they'll get funding from China..." idea.
There's a recent article here which says China is very much in the business not just funding, but buying up foreign RE miners/producers outright - even in US and Canada. PRE could well be within China's sights:
https://investorintel.com/markets/uranium-energy/uranium-energy-intel/biden-the-chinese-raw-material-hunt-and-the-massive-monazite-results-of-appia-rare-earths-uranium/
Here's the gist:
Chinese companies continue to seek out and lock up more of the raw materials that will drive the future. In just the last few days, Zijin Mining Group Co., Ltd. launched a C$960 million takeover bid for Canadian domiciled Neo Lithium Corp. (TSXV: NLC | OTCQX: NTTHF), while Contemporary Amperex Technology Co. Limited (CATL), the world’s largest battery supplier and ironically already part owner of Neo Lithium, signed a battery supply deal with U.S. commercial EV maker, Electric Last Mile Solutions Inc. (NASDAQ: ELMS). Three weeks ago CATL made a C$377 million takeover bid for Canada’s Millennial Lithium Corp. (TSXV: ML). Zijin is no stranger to taking out Canadian mining companies having previously acquired Nevsun Resources (C$1.86 billion), Guyana Goldfields (C$323 million), and Continental Gold (C$1.4 billion), and those were just some of its Canadian targets.
Appia is a Canadian publicly-listed company in the uranium and rare earth element sectors and is currently in its largest exploration and diamond drilling program in the Company’s history, focusing on delineating high grade critical rare earth elements. If the grades in this season’s drill holes match the world class grades previously announced things could get very interesting very quickly. The Company is well funded to complete this season’s drilling with plans to prepare an NI 43-101 report following the conclusion of the current exploration program later this year. With 107.6 million shares outstanding, the current market cap for Appia stands at roughly $82 million. That’s chump change given what some of these Chinese companies are throwing around for quality assets.
So if that's the case for Appia - it's also got to be true for Pensana as soon as FEED and finance details become known.
DP: why don't you just check your facts first?
Easy enough - go here: https://pensana.co.uk/shareholder-information/
Get your calculator out and compare these holdings with Jul 1st holdings and you will find all the large nominee accounts are holding substantially more shares now:
JIM NOMINEES LIMITED now holds 38,192,658 - a 31.6% increase over Jul 1 holding
PERSHING NOMINEES LIMITED now holds 35,554,820 - a 25.5% increase over Jul 1 holding
VIDACOS NOMINEES LIMITED now holds 27,454,452 - a 17.1% increase over Jul 1 holding
Even the smaller HARGREAVES LANSDOWN (NOMINEES) LIMITED holding is now 5,390,038 - a 10.8% increase.
if you go to the Share holders page, you will find that the Sovereign wealth fund, owns 23/4 %, PA owns well over 5%. considering that JM Nominees owns 17.1%, Pershing Nominees owns 15.9% and Vidacom nominees owns 12.3%. im not sure how you can make that statement with a straight face. its entirely possible that any number of individual shareholders could have increased their holding dramatically, considering the increase in the shares that these accounts have experienced over the last few months. not withstanding your assertion that they would have to make aTR-1 declaration. As as has been said by more than one person, you are wrong. Perhaps you like to have a look at bullet point two in the exemptions for reporting below.
Exempt Holdings
The following types of holdings are among those that are exempt from the calculation as to whether or not a reporting threshold has been reached or exceeded and may be disregarded:
• Shares acquired for the sole purpose of clearing and settlement within a three-day settlement cycle;
• Shares held by a custodian or nominee in that capacity, provided that the custodian or nominee can only exercise the voting rights attached to such shares under instructions given in writing or by electronic means;
• Shares held by a market maker;
• Shares held by a bank or investment firm within its trading book;
• Shares transferred as collateral, provided that the collateral taker does not declare its intention to exercise, and does not exercise, the voting rights attached to such shares; and
• Shares borrowed under a stock lending agreement.
DP, forget the schadenfreuder, its unbecoming. But i think you might be commenting on the wrong thread. So it might not be schedenfreuder, just general confusion!
That's meant to say two facilities, not faculties
Eloro, this is always going to be two faculties to finance, one for Angola and one for UK. The the Norge's are the loan arrangers. It is entirely possible thank UK funds will participate in the Uk syndication. At the moment we don't know
May be they get funding from china :) that will funny
It took HZM a year to go from draft debt proposal to final - one would hope that PRE will be quicker! HZM are of course still in the process of finalising their complete funding package, including off-takes and equity.
Off-takes are the critical element for PRE, given the concentrated nature of the downstream market.
Take a look at the finance deal done by HZM with some Scandinavian backers. Excellent rates, and they understand mining!
Hi Mumbles,
I don't really mind where PA get his funding, so long as he gets it. However, he moved from Oz to here. He is publicising the number of UK jobs PRE will create. I just find it odd that no UK financial houses weren't rushing to give him the required funding. At this rate better he had relocated PM8 to Norway instead of the UK. Anyway, let's hope the SP recovers and not get hammered should funding become an issue.
Hi Eloro, just to stress, i am also 40% down and admit to having a few concerns. but in respect of UK as opposed to scandinavian financing, i don't see what the issue is. the project is financed and costed in US dollars not in STG. The Norgy's have considerable experience in financing high risk projects, usually to do with oil rigs and shipping. All of which demand high yield bonds to finance them. Angola regardless of the improvements in governance, is still country that demands high returns before financiers will commit their shareholders funds. UK have more than enough projects to finance at low risk, without resorting to high yield bonds.
Points taken China. But being 40% down can cause a PI anguish and anxiety. Yes, I did expect PA to be further along in sorting out the finance. I am also concerned that he had to go to Europe to look for the funding. Is there a problem why he couldn't get UK financial groups to back him?
I am not young, and I would like to see a return before I expire. 500p would do me nicely.
Eloro, You certainly have high expectations of Pensana's Directors, How many other REE Companies can you name that have taken a grassroots exploration Project thru to Finance/Start of Construction in under three years ? Peak, Rainbow, and most of the other hopefuls have been at it for ten !
Not that I have a problem selling out to a Fortress or BP, but I for one will not be bailing out on the cheap, Especially when you consider that whoever is doing the bidding is the same person as the Shorter/Dumper who has spent the last six months bringing our SP down to their cheapskate level ! £20 minimum for me.
I posted before that I think that MP would see us as a target. They have an head start, built up a fortress balance sheet, and they need what we have. So, I wouldn't be surprised if they are involved in the TO speculation. Yes, I would take 500p in an heart beat. PA hasn't kept his word on providing frequent updates, and I am disappointed that he is only now sorting the funding. He needs to get a move on.