Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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I also detect desperation being projected onto us. Perhaps someone is in danger of not getting their annual bonus....
Theo and DP - You are deliberately misrepresenting what Paul Atherley said or you didn't read it. Would it help if I posted his words for a 3rd time?
Totally agree. Pensana can access the shareholder register daily. One things for sure, with a US listing you would never get away with an announcement that is downright misleading. Sometimes I think that if this turned out to be one colossal scam you would read back through all the company’s announcements and think “why on earth did I miss all the clues?”. Incredible irresponsibility and just the worst corporate governance.
Correct. All it needs is one whistleblower....
Fund still buying > fund wants a low price > fund still has its 1ick5pitals working the boards.
Laughable now.
Dumbpunter , literally have to nit-pick everything. They've literally said there's a US Fund involved buying shares around the notification threshold but you have to find issues with the wording he said. Christ man
You mean it was unscripted? It sounded perfectly natural when he said it on the webinar. Ultimately Paul Atherley confirmed what we have all been saying for quite a number of months. A very large US fund is a significant shareholder in Pensana and it is only a matter of time before they reveal themselves.
SunDrum, that's extremely positive. Kind of backs up what Betaville posted the other week and what caused the move to 120p .. who knows. TR-1 here could be big
As you both missed it the first time and for the purposes of clarity, this is what Paul Atherley said on yesterday's webinar about the US Fund that has been accumulating stock.
"We've got one very, very large US fund buying on market and I met with them when they came through London a couple of weeks ago and that is very exciting to have them on board."
"We think they are through the threshold of announceability so we will contact then when we think they have reached that point and ask them to put in an announcement."
Disappointing webinar I thought. Reading between the lines, as you seem to have to with this company, they have made next to no progress with financing and ATF dead in the water. No progress with off-takes, some cryptic b***S*** about American funds, suggestion of a US listing just laughable. They just don't seem to learn that it is better to play straight but they just cannot help themselves, they gild the lily, make fanciful claims and then just look totally incompetent. Why on earth didn't they approach this conventionally, produce the BFS, line up the off -takes as the wannabee Australian RE companies have done? Still not too late for PA to realise he is charging down a blind alley and make a U-turn.
Dumbo, Stop trying to appear knowledgeable, for over twelve months you have been making dubious comments about Pensana; non of which have proven to be correct. You banged on about Thorium for ages, then tried to tell everybody that Burundi was the best thing since sliced bread; then you were telling us that Pensana had no hope of getting an ATF or finance ! What next ? is the railway line not suitable or have you found an endangered butterfly ? Give it a rest will you or you will die of Apoplexy when the FEED comes out and you see the size of the Re-rate that will soon follow,
As for gravity, If you ever bothered to look at some of the early plant designs you might have noticed that they were originally looking at Spirals as a first pass concentrator. quite feasible but not on the scale we are now looking at today.
I should also have added that I am also excited about the possible USA listing just as BwanaMakumba previously indicated would be a possibility. The SP should benefit from US exposure. A keeper for me from what I am hearing.
https://www.amvestcapital.com/webinar-directory/pensana111721
Dumbo, An interesting paper but becoming outdated and not very ingenious ~ Liberation vs Grind size has been well understood for quite some time. Also the study was specifically Chinese - Byan Obo. But not a bad primer for those wishing to start understanding basic REE extraction. Nice pick up on the effect of weathering given LJ's initial status.
Watched the webinar, and I am a lot happier from what was presented.
-The Yanks have taken a position here which I regard as a vote of confidence in the business model. It also means that a take over could happen if the business prove to be profitable.
-offtakes being lined up.
-Low risk associated with PRE achieving a viable cracking process.
Finally, 2 years isn't long to wait. This is definitely a keeper for me.
The BP had around $65/t for NdPrOx (22 x 12.5/4.5) so 40 is quite a reduction.
Looks like $500m is the total Capex as expected. Not yet saying what proportion of non bond 250m balance will be share issue.
70 to 80k/t CF over the LoM looks totally feasible here and every reason to expand beyond 4.5kt/y in time.
Is this webinar recorded and to be made available?
Dumbo, apparently they have being buying in the market and PRE will request they release a TR-1 in due course. Apparently they think the stake is going to be between 5-10%
Great webinar and PA grilled by the yanks with some difficult questions. PA took it all in his stride and give great confidence in delivering is project. Also great to here that a US funds is taking a significant stake in the company.
1. The FEED package has 121 equipment packages to sign off. 60 have been completed to date and over the coming weeks the remainder will be finished. As an approximate total cost of production the output from Angola as Cerium depleted sulphate mix with no thorium or other radionuclides is $30,000 per tonne approx and the Saltend cost will add $10,000 per tonne to deliver an NdPr oxide final product cost of $40,000 approx. (The cost to buy today is $130,000 so over a period of time there is a probably a margin to pay back debt and generate profits).
2. It was confirmed that a patent on the sulphate process was being processed with the purpose of protecting the interests of the company.
3. At least two other mines outside of Angola are looking to supply compatible feedstock that has no radionuclides in future years to Saltend.
4. The permanent tailings facility and separation of radionuclides was discussed and all takes place in Angola and it is suitable for 20 years of mine production.
5. It was confirmed that the only revenue tax on Angola mining was the 2% Royalties. The rate of corporation tax was 25%.
6. AWF was open to contribute to the remaining $250M debt outside of the $250M bond arrangement.
7. The UK Treasury has accepted all the responses given by the company on the ATF grant application. They await a final decision from the UK Government.
8. Bond funders have suggested that an ATF grant can ease the provision of $250M in bond financing.
9. The company has the benefits as a Freeport plus allowances for depreciation of assets and business rates thus far along with no import or export taxes at Saltend.
10. So far there are no off take arrangements, but these are to be worked on to satisfy likely future bond requirements.
11. The remaining $250M may be served by multiple means and the favoured approach is bank debt facilities.
12. JORC requirements for reserves and resources to support the funding package are being worked on. Ground is being broken in Angola with hydrology and foundation works at the present time. (We know Saltend has recently completed their hydrology geo-foundation works).
13. It was likely that Pensana will have an OCT market listing in the United States. This may progress further depending on USA investor demand. Two USA investment sources were currently heavily buying Pensana shares.
Overall good questions were asked of Pensana and it was clear that a raft of news was forthcoming with some arriving this month.
Hope the above is helpful, but you may want to listen to the webinar yourselves. It was an upbeat discussion.
Tony