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I see the raise as incredible news.
Relatively little discount to sp. especially if we consider where we were 6 weeks ago.
A raise so close to the bfs from in country tells me they are very confident it’s going to be good news.
On top of that. Such big backing from within Angola means the country is goikg to be very keen to help this huge project move along.
I’m very pleased
AWSF have seen the potential and the increase in value of their existing investment and now want a bigger slice of the pie. I agree this will be beneficial for the Company as it will help alleviate any potential domestic hurdles should they arise.
I agree with China that bringing revenue streams forward can only benefit shareholders and the Company alike.
This second tranche of shares was flagged when SWF made their initial Investment back at the start of this year ? I for one can live with a 10% dilution to Registry considering the benefits it brings, and we should never begrudge our Hosts' desire to be be partners in this venture.
This to be Great News, not only does it show our Host countries commitment to encouraging Investment in their countries resources by Foreign Companies, it specifically demonstrates their desire to see Longonjo proceed ASAP. A much better solution to developing the Countries wealth than what we are currently seeing in PNG and Tanzania !
For Pensana Shareholders it provides an opportunity to expedite construction at a critical time of Development, it will certainly make reaching our CFO's goal of "Revenue before Xmas 2021" a lot more achievable. The sooner we get into production, the sooner we generate earning;s which will then kick-in P:E ratios for our Share Price. I assume that everybody wants our SP to rise ?
Considering that we are now looking at earnings of somewhere between US $100-150M. pa. Every day that we can bring production forward will generate between Au$300-500k to Revenue . ie 3Months is worth £15-25M !
The Australian Bulletin Board Hot Copper is currently showing at least a 90% shareholder approval.
A Big day coming up on Monday.
What do we make of the fund raise guys?
Hi Shareaction; I fail to see how you can justify your conclusion that Pensana will have problem meeting ESG standards from what is actually said in the article that you linked to ?
That article clearly states that China is cleaning up its Environmental nightmares by closing down non-complying miners and processors. That current practices are indeed questionable is a given, but you can't link Future goals to Past events when all concerned are committed to the next Standards of operation.
The simple fact is that to advance this Green Revolution, the World needs to develop a significantly large and secure supply of NdPr. Longonjo is currently the only New mine in development that has any hope of bridging the Supply - Demand deficit within the next 4-5 years. What would you prefer, force China to maintain production by allowing polluting mines to continue operating ! or to encourage change, by investment in a new supply line that is clean ?
An interesting article in Asia Times Financial today:
China has kept its 70% of the total REE world market so hidden from view that international financial media say they are simply not able to explain why China's REE export in August has fallen by 62%.
https://www.asiatimesfinancial.com/chinas-exports-of-vital-rare-earths-drop-a-dramatic-62-in-august
This article does show how opaque the REE market really is and perhaps also why China appears to be able to be so competitive (=cheap). Since Pensana are planning to ship practically all the rare earth output to China for refining and use in components, this makes me think Pensana will struggle to achieve the "high Environmental, Social, and Corporate Governance standards" they are talking about, or to raise ESG-compliant finance.
The actual rare earth mining itself in Angola may be possible to keep clean but it cannot be within the spirit of ESG compliance rules to just ship all the rare earths into China with its so-called "different" compliance standards to other countries. But in all the promotion talk chairman Paul Atherley have used windpower generation as a central selling point of his ESG chain of events, and that is clearly AFTER the Chinese have done all their magic bits to the rare earths, and the wind generators with their NdPr super magnets are installed and generating pure and clean electricity in the North Sea.