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Theo, as I said 100%+ over 5 years and they are still in front, without having to lodge any Tax documents.
China, you’ve lost me. A share that has lost 90% in two years is not an investment. It’s a disaster. If you bought Pensana shares to pay for your grandchildrens’ education you were totally irresponsible. Reckless even.
China - do all Australians whinge and whine as much as AS1971? I thought that was supposed to be us Brits.
Could this help?
Highly experienced Luigi Bruni has been appointed Construction Manager for site team at Longonjo. Luigi brings a wealth of practical experience to the project having served as Construction Manager for 15 international mining and oil & gas projects over the past 20 years.
The containerised 350 person accommodation facilities arrived in Angola having been transported from South Africa via sea, rail and road. The multiple logistics routes for transporting containers to site have now successfully been confirmed ahead of transport of the modular processing plant.
As I suspected, Theo would not have invited you to a game even as his caddie; Which also raises the point that you apparently took no notice of what the Texas cowboy has been saying these last couple of years, if you had you would have sold back in 2022. That you are now being a total sook and whining that you are currently in the red is solely down to your own decision making and fragile ego.
Theorist - China cannot possibly come back from that comment! Like a Mike Tyson right hook in the 1990's. Boom, ni night China!
PRG - Ivan is dead and still a better option socially than you...
China - FYI, Barnbougle is in Tasmania which is not part of Melbourne.
Theo'; The whole point in INVESTING rather than trading is to provide a future benefit when it will be needed, without becoming a parasitic Cowboy. Pensana is a classic investment in that by the time my grandkids will need the money it will be a Tier One mining company paying regular dividends to help pay for their education. In the interim I don't have to worry about having to declare anything to the taxation department, while I see that this INVESTMENT has still substantially outperformed what they would have earned in bank interest.
So China, let’s speculate that your grandchildren hold 100, 000 shares each. And let’s assume they did not take my advice and sell at 180p (grandpa told them they were sitting on a 20 bagger). Ignoring my advice and listening to you has cost them £160,000 each. Another six months and they’ll be using them to light the barbecue!
Tony - re: Boeing titanium. I'd say that the fault lies more with Boeing's quality control and procurement standards, not with the off-spec titanium originally made in China. As regards fake RE from China - the elephant in the room isn't the quality or spec of the RE's - it's the hidden state subsidies, and the buried horrendous ESG costs. There is consensus that the NdPr market is rigged by China so that prices have become unrelated to normal supply/demand balance, specifically to prevent entry of new suppliers into the worldwide RE market.
IMHO, with US and EU current application of tariff sanctions to prevent large-scale dumping of EVs by China, and the above consensus, that further economic action to restore rational NdPr pricing and fair markets is imminent. One example is Australia's Treasury order to several China-linked investors to dispose of Northern Mineral (heavy REE metals) AUS shares, amounting to 10.4% of its issued share capital, on national interest grounds. Another is the work being done by US to develop a floor price-based mechanism for RE market prices, which enables China-idependent supply lines to be built.
China itself continues to be the largest consumer of NdPr for magnets, and benefits from it's own rigged market. See here for some food for thought:
https://news.metal.com/newscontent/102788751/SMM:-NdFeB-Production-to-Continue-Rising-in-2024-Outlook-for-Rare-Earth-Demand-in-Automobiles-Wind-Power-and-Home-Appliances
The figures are astonishing:
- air-conditioner manufacture - 5,483 tons of NdPr alloy, with an 11% increase in 2023 pushed by global warming and high temperatures in South China and no sign of future demand slowing.
- off-shore wind -20% increase over 2022 in installed capacity - 75GW added in 2023 alone, requiring 3,844 tons of NdPr alloy. In comparison- by 2023, the UK had approximately 28GW total installed wind capacity over 25 years, AND China will have built around 1,300GW of wind and solar capacity by the end of 2024, so beating its original plan target of 1,200 GW in 2030 by 6 years.
- EVs - China produced 36% more EVs than in 2022 - 9.587 m. For comparison the total Europe-wide sales of EVs in 2023 was about 3m. No figures are given for quantities of NdPr magnet alloy consumed by China's domestic EV production, but assuming the average of 3.7kg per vehicle, it works out at roughly 35.5kt
- elevators/escalators/lifts - produced 1.548 million units, up 5% YoY, bringing a total demand of 2,630 tons of Pr-Nd alloy.
All of these domestic production targets are set through China's 5-year plan programme of expansion, and forecasts are for a continued 20% year on year growth, except the latter which is subject to a housing recession expected to stifle demand in the next year or two.
Https://www.techspot.com/news/103374-europe-largest-deposit-rare-earth-metals-discovered-ancient.html
Norwegian mining company Rare Earths Norway (REN) announced that after three years of exploration, it has discovered Europe's largest proven deposit of rare earth elements southwest of Norway's capital city Oslo, near Lake Norsjø. The complex was the pipe of an active volcano around 580 million years ago. The upper part of the volcano has since eroded away, exposing the 1.2-mile-in-diameter magma-filled pipe. REN says the magma, which has solidified into carbonatite, holds rare earth elements such as neodymium and praseodymium of about 1.5M tonnes of magnet REE ores.
However, I see the deposits are at substantial depths, and the surface land is well-populated with agricultural development, so there will be much green resistance. Also, REN needs a cool £0.75billion to launch the first phase of mining production by 2030, so development of this mine looks like it faces multiple major economic headwinds and other lead-time issues.
Https://www.prnewswire.com/news-releases/energy-fuels-achieves-commercial-production-of-on-spec-separated-rare-earths-at-its-white-mesa-mill-in-utah-while-simultaneously-advancing-uranium-production-302168094.html
ENERGY FUELS (USA) Jun 10 24 shows the way for Pensana - becoming the first US refiner for decades to produce a full-spec separated magnet-quality NdPr stream from monazite feed. Phase 1 plant ready to produce 850 to 1000 tons of NdPr yearly, with commercial quantities shipping this month, using a similar process as Pensana/Longonjo.
This is on the back of Energy Fuels main business of US uranium extraction/refining operation and recent acquisitions in Bahia/Brazil and the Donald Project/Australia with supplies of REE monazite mineral sands deposits. ENERGY FUELS is now planning expansion of the Phase 1 NdPr processing plant to hit 4,000 to 6,000 tons annually after Phase 2 and 3 completion, aiming to be a "world-class" supplier of magnet-grade separated NdPr outside of China.
Like Pensana, ENERGY FUELS is depending on winning customer supply agreements, government backing, offtake agreements and direct financial support to secure Phase 2 & 3 completion.
Another example was published in zero hedge today where counterfeit titanium from China was supplied into Turkey and ended up in some Boeing dreamliner aircraft as it was identified with having corrosion. Documents from the Chinese supplier were all forged. If they are prepared to supply fake titanium to be fitted into cargo doors and heat shields near aircraft engines one has to consider the possibility how genuine Chinese rare earth products might be.
AS1971, so you'd rather have a beer with Ivan who you don't know and I'm a spud, lol
I've had beers with characters worse than dear dead Ivan, so not a problem to have a beer with you, on the GC?
AS1971 ~ Australian Standard on Wind Loading, an appropriate pseudo name.
Clearly Theo does not think much of you, if you have to catch the train to work and play on a public course. I bet the Pommy cheap skate did not even take you down to Barnbougle or to the T20 when he was in Melbourne.
40,000, even my grandkids have more than that (each) and they don't sook nearly half as much as you.
Yep, I'm English and you're Australian. Well deduced. The point is, if you're a shareholder you may not like it but you are being laughed at by some pretty nefarious forces out there.
Unfortunately your naivety even outshines England's cricket team during the Ashes test at Lords.
SunDrum is definitely a Pom and about on par with Stuart Broad on the sook meter.
PRG, I am in Australia and you seem like an English cricket supporter, even more laughs on you. I'd rather have a beer with Ivan Milat than a spud like you. Just sayin"...
Ha ha, 4000 shares, I recall! Hardly enough to be crying over, however, as a genuine shareholder, which pub and we can discuss over a beer? I don't play golf :)
And AS1971, if you are a genuine shareholder, which I doubt, the joke is on you. There are individuals sat in offices right now howling with laughter at how they've 'turned' you so you do their dirty work for them. Very smart on their behalf, truly dumb on your behalf.
Had to look that up. Melbourne. Isn't that where the T20 World Cup Final was held a couple of years ago?
Not really a turn on, just amusing!!! Just FYI for all the dumbo's on here, I have 40,000 PRE shares worth approximately 50% of what I paid, so I would love to see the SP increase so I can get back to even and get out. I am 100% confident this will never happen but happy to be proven wrong. I'm off now, have a lovely weekend online boys! LOL
AS1971 - A question you know the answer to and it has less to do with Pensana and more to do with your employer's activities. The good news is the 300,000 shares you dumped were swallowed up quickly by a buyer. A more interesting question is, who is the mystery buyer and why are they swallowing up big chunks of shares?
Whatever turns you on..
PS. I do aim to get reactions from some of the numb nuts on here and it's way too easy to get bites, like an unbaited hook at a trout farm or most Collingwood members :)