The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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An interesting use of the word "We" there Theo. Does that refer to "We" as being you and your trading pals and the Chinese monopolists or "We" as the rest of humanity ? As to Lewis's previous comment, it would be much appreciated if you could inform us as to which "Board" you are referring to ? and thanks for the confirming my suspicion that somebody is indeed coordinating the selling.
If other companies follow the footsteps of Pensana we are all doomed!
"What I want to know: who the clown is that keeps on lending you shares to short sell every month ?" The board
The British government hopes that other companies will follow in the footsteps of the Pensana mining group, which is building Angola's first rare earth mine through one of its subsidiaries. [...]
https://www.africaintelligence.com/southern-africa-and-islands/2024/05/23/lobito-corridor-rare-earths-capture-london-s-interest%2C110229534-art?cxt=PUB&utm_source=AIA&utm_medium=email&utm_campaign=AUTO_EDIT_SOM_PROS&did=109735402
What I want to know: who the clown is that keeps on lending you shares to short sell every month ? I seriously doubt that many long term Investors are still selling into your blatantly obvious dumps anymore. So with an average turnover of 5-6 million shares @ 2% margin each month the dumb traders must be loosing $100,000 ~ a sum that fits rather well with your Ringmaster's recent boast about making 250k per quarter.
With finance 35p. Without 0.5p
I can have a 'buy' option without being privy to all the current information.
Anyhow, your partner in crime has appeared. Come on then lads. What are your price predictions this time? 2p, 3p?
I’ve just written the Coola update. Drilling results have been (once again) spectacular. We are now able to clearly define the ore body. Probable ndpr reserves are now twice original estimates and grade improvements are notable. We have also run a third road to site, accommodation blocks and extension leads are in place. No mention will be made of Saltend, that cunning but ultimately unsuccessful ploy to extract cash from the ATF. Finalisation of finance for Longonjo is expected shortly. So no need to wait for the next RNS, you just read it!!
Lol MAA, you are asked if it's a buy and say yes, then ask if anyone has heard anything re finance.
The sp tells you everything you need to know about the finance position. Unchanged.
There will be a June progress update and a coola project update no doubt in June also.
Have you heard anything?
As a holder in ALK, Pensana has been on my watchlist a long time. Made an initial buy here the other day, looking forward to confirmation of export credit agency guarantee and equity finance 👍
Absolutely worth a punt
Yes.
Is this worth a buy?
Initial lack of support and indifference from the EU over Biden's new China tariffs may soon have to harden to action.
The EU was already well advanced towards reaching its decision whether it should increase Chinese EV tariffs from the existing 10%, to avoid decimation of its own auto industry by the looming tsunami of ultra-cheap, China-subsidised EVs.
The problem now is that the Biden closure of the US EV market to China inevitably diverts the focus for China's surplus EV dumping to the EU. It now seems obvious that "Brussels will have to act quickly, either to put its own tariffs in place or to accept a flood of Chinese-made products". UK will almost certainly follow suit after the usual 3 years of in-fighting and delay.
Looking at some of the commentary around "what will China's response be", the consensus is that it will be measured, targeted and fairly quick. The damage to US - China trade balance from the new tariffs is about $18bn, so China is likely to go for equivalent cost retaliation, but may choose to hit "pain points" specific to US and EU which don't cause collateral damage or alienate China's other markets.
Given that permanent magnets are No.2 on the list of items the US critically depends on China for supply (77%) and the EU is similar, China may well do to permanent magnets what it did in August last year with gallium and germanium exports, - drastically restrict export quotas/shipments to the west.
If this happens, there will be a chaotic scramble to buy up and lock-in non-China sources of magnets and magnet materials, with rampant stockpiling - and NdPr prices will take off accordingly.
Https://www.mining.com/crma-rare-earth-elements-a-potential-blindspot-for-eu-policymakers-and-industry-report/#:~:text=%E2%80%9CThe%20outlook%20for%20rare%20earths
Courtesy of cadellin on rainbow rare board.
Hopefully LSE won't remove all upper-case this time - who knows?
Mumbles/Tony - re: US tariffs action on China. It's not just Ev's now subject to new tariffs - the latest US trade restrictions also includes new 25% import tariff on permanent magnets in 2026, and 25% on critical minerals (not including REs though) in 2025.
By continuing to avoid imposing tariffs on rare earth minerals, the US is obligingly signalling to China it's chronic weakness/exposure over RE supply chains.
China has previously raised its own import tariffs on US rare earth minerals for refining in China in retaliation to a wide range of US tariffs imposed by Trump.
I'd be amazed if China didn't do the same again now. It's in a very strong position to squeeze the US and EU by restricting NdPr magnet grade raw metal exports, hiking its own import tariffs for non-China mined rare earths which still have to be refined in China, preventing the export of RE refining and processing equipment/technology/IP to US and EU, and introducing punitive export embargoes on shipment of NdPr permanent magnets to the West. Only Japan, Germany, France and US have permanent magnet manufacturing and they all depend on China for the pure NdPr powders.
China can survive for many months/years even, just producing EVs and wind turbines for its internal market, but also has the non-US/EU world markets of Africa, Asia-Pacific, Middle-east, India etc. It has also stockpiled quite a lot of RE's/gold for a rainy day. It has an ongoing programme to develop factories in 3rd-party countries like Mexico which will be able to export to the US. It also is investing in many off-shored partnership/co-operative projects to build basically Chinese-sourced infrastructure projects in the tariff-imposing countries themselves - eg: the JLR battery mega-factory at Taunton.
I don't think it's going to be very long now until we'll see China mobilising its RE economic warfare a(rs)enal against the West.
300% rise in NdPr metals and magnets coming down the line??
(IMHO- DYOR- This is not investment advice, etc etc)
mumbles/tony - re: us tariffs action on china. it's not just evs now subject to new tariffs - the latest us trade restrictions also includes new 25% import tariff on permanent magnets in 2026, and 25% on critical minerals (not including res though) in 2025.
by continuing to avoid imposing tariffs on rare earth minerals, the us is obligingly signalling to china it's chronic weakness/exposure over re supply chains.
china has previously raised its own import tariffs on us rare earth minerals for refining in china in retaliation to a wide range of us tariffs imposed by trump.
i'd be amazed if china didn't do the same again now. it's in a very strong position to squeeze the us and eu by restricting ndpr magnet grade raw metal exports, hiking its own import tariffs for non-china mined rare earths which still have to be refined in china, preventing the export of re refining and processing equipment/technology/ip to us and eu, and introducing punitive export embargoes on shipment of ndpr permanent magnets to the west. only japan, germany, france and us have permanent magnet manufacturing and they all depend on china for the pure ndpr powders.
china can survive for many months/years even, just producing evs and wind turbines for its internal market, but also has the non-us/eu world markets of africa, asia-pacific, middle-east, india etc. it has also stockpiled quite a lot of re's/gold for a rainy day. it has an ongoing programme to develop factories in 3rd-party countries like mexico which will be able to export to the us. it also is investing in many off-shored partnership/co-operative projects to build basically chinese-sourced infrastructure projects in the tariff-imposing countries themselves - eg: the jlr battery mega-factory at taunton.
i don't think it's going to be very long now until we'll see china mobilising its re economic warfare ****nal against the west.
300% price rise in ndpr metals and magnets coming down the line??
(imho- dyor- this is not investment advice, etc etc)
It's cheap because there is nothing plugged in to it. Tongue firmly in cheek
Theo, you're bored and decided to throw some raw meat into fray to provoke a reaction.
So you have milked the MM's for 250k again; Look closer and you will see that it is a brand new road built alongside the old one and that extension cord connects to some of the cheapest green power available anywhere in the World.
On behalf of the Board I extend my thanks for another hard earned monthly payment of $250,000. It’s been a tough 4 weeks. We haven’t got any finance yet but an extension lead is now in place at Longonjo, we have resurfaced the access road again and drilling results at Coola have yet again been incredible. Hard life eh?!
It's the monthly lack of finance distraction. March, April and now May. We will get the new breaking ground pictures very soon. Who knows, maybe the modular construction camp will have arrived from South Africa that was to be despatched a year a go.
Cynicism aside, nothing matters but finance inked
The composite laterite sample graded 8.4% TREO (total rare earth oxide) with 80% comprising magnetic iron and manganese oxides and 10% REE (rare earth element) rich monazite.
· Magnetic and gravity separation test work has been commissioned with the target of producing a 50% TREO concentrate suitable for treatment at Longonjo.
"'These early results indicate the potential for low-cost physical beneficiation of the Sulima West ore at site, feeding the Longonjo processing plant with a high-grade rare earth concentrate."