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Sundrum you’re a halfwit. All I was doing was paraphrasing what the company said in its 31st March 2023 RNS. To quote:
“ The Group does not currently have sufficient funding to meet its outstanding creditors and is dependent on securing immediate term funding…..the Group is dependent on the continuing cooperation and forbearance of its suppliers while funding is secured..”
theorist - you say you can't recollect saying anything about administrators. what a load of bull****!!!
you wrote on the following dates and times;
31 mar 2023 17:08
i would expect the company to collapse into administration this weekend.
31 mar 2023 18:13
if the company is not solvent the directors have to call in administrators.
2 apr 2023 14:17
if, come tomorrow, the board has been unable to secure a lifeline they have to call in the administrators.
2 apr 2023 18:26
if they don’t call in the administrators this weekend or very early next that could only be because they have secured funding, even if that’s just 5 or 10m.
11 apr 2023 13:05
i cannot see the company going beyond friday without either announcing finance or administration. looking at the sp the needle seems to be swinging towards administration.
16 apr 2023 21:30
my money would be that tomorrow is the day, finance or administration.
Last time we were not informed it was hidden behind a smaller scale modular mining project with no saltend. It later materlised that the final review wasn't signed off by the lenders board.
Dont expect to be informed. The can will just be kicked.
However I do think it will be financed but not on the terms expected a year ago. Like I said all in lenders hands at min.
Ree price doesn't help
Mumbles. I do not recall ever saying anything about administrators. I do however recall saying the share would go to 15p. Lewis is spot on. There is a real issue about trust. In the last four years the company has never met a self imposed deadline. They have been in the final stages of finance for almost a year. Clearly there have been serious setbacks but the company has never ever disclosed a problem. Nobody has the feintest clue about what is going on. Time for Atherley to hold his hands up and acknowledge failure, this is becoming too painful to watch. It’s like watching the black knight in Monty Python!
If Pensana had failed the technical or financial due diligence ABSA would have advised them and they would then have to let shareholders know this price sensitive information.
PA stated at the AGM that we could expect an announcement on the Term Sheet shortly, so hopefully that will be the next release of information.
Lewis, I'm just tired
Ffs really mumbles and Tony. It's like I am back at school.
The worst persons I listened to with this stock was the board on pensana and there bull shiz timelines.
Trust is a massive problem here. The project value has been diluted and yet we still wait for finance.
Seriously though, who, and it goes for all ree miners, would invest today. It needs to be a cracking deal and you can bet its massively geared towards the lender if it comes at all.
Lewis, Theo did at one time say the administrators would be in by Wednesday, sometime at the beginning of April..... he was wrong then,
Lewis it was 105-110p (June 2021) when theorist made his first comments after certain directors resigned from the Board.
"Back again Lewis, so you did not even take your own advice ! only one person to blame for that and it is not PA."
You make zero sense, what advice? I was lucky to escape at break even (note at a higher sp than today).
As I said ramblings of someone who has lost touch with the reality around them.
I can't recall an instance where theorist has called this wrong to date. That may change if finance lands.
Why is the sp languishing at 20p. It was 200p when Theorist started posting.
Sundrum
Fingers crossed. Thanks for your opinion. Tony
Tony - the difficulty with that as I understand it is, the due diligence is mandated by the bank, not the company. As such, it is likely to be confidential and for the lenders use only.
It is fair to say that in the absence of information to the contrary (which would have a material effect on the SP) and the company has stated completion of finance is in the next few weeks, it would be fair to assume that due diligence has been completed successfully.
Back again Lewis, so you did not even take your own advice ! only one person to blame for that and it is not PA.
What would be the point in addressing the Rabbi's words of poison, as Mumbles points out he is driven by spite and a possibly a personal vendetta against PA. very little of what he has ever said is FACT. While his puppets master is a convicted criminal who stiffed HIS shareholders and taxpayers for US$190M. Some of which he then used to sponsor the Israeli PM in exchange for the current attempt to dispossess the Palestinians of their own Country. A bit two faced you would have to agree !
Sundrum
It would not be a poor outcome for Pensana, if they said they have interim support to financing in place especially if it was delayed six months. If they could confirmed that due diligence had passed and they were awaiting interest reductions and liquidity conditions to improve is when a full build would start in essence in a queue for release of capital.
I am not sure if things work that way on a letter giving future commitment awaiting confirmation of final contract start dates. It is the absence of that kind of document that is testing investors at the current time. Hopefully, you might find the latest from any contacts you have. Tony
The font of all knowledge that is Theorist? The same Theorist that firmly lost his shirt on HZM? The same Theorist that pursues a decades long, petty vendetta against Paul Atherley? The same Theorist that has predicted specific outcomes on numerous occasions with regard to Pensana and got them spectacularly wrong every time?
What could possibly go wrong listening to him?
China,
Why don't you respond to theorists comments that all seem valid on the surface. Your standard retort is similar to a person in a straight jacket in a padded room.
Personally, I wish I had paid heed to his comments over the time I was invested in PRE.
I would have been better off.
theologist,
my foresight ~ your messiah's puppet has today confirmed what i have been saying all along, you greedy little chabad thieves are hell bent on stealing the west bank from the rightful owners so dj can build a golf course there.
vs
your comments (based on hindsight) re pensana and pa have turned out to be a load of *******s !
for my next prediction, you and your schlocky mates have overplayed your hand on both fronts. just as you failed to steal control of longonjo, your greed and disregard for the 10th commandment will back-fire and you will once again become pariahs to the rest of the world.
Next week marks the second anniversary of the agreement Pensana (apparently) signed with Equinor to build a low energy hub at Saltend. No doubt they will all be clinking glasses at the refinery. World beating drilling results from Coola must also be due soon, I think they are released every 6 months. Forthcoming anniversaries include the green bond and the start of the ABSa due diligence process. Maybe someone at Pensana just puts all this stuff on some kind of loop and then sets the frequency with which the announcements are given. Maybe there is nobody there. Other than the 80 full time engineers at Saltend and the 50 at Longonjo they told us about. Guess all this stuff is still valid because it has never been corrected or amended? Time to resurface that road again.
Theorist, I can believe the warmongering and multiple nationalities, but not sure I can forgive the Golf :-)....
You forgot to mention Comm' Bank and Macquarie.
China. An absolute classic! Btw it might amuse you to know that i went to an associated school in Sydney. Obviously upon leaving I became both Chinese and Israeli, started a couple of wars and took up golf!
Theo, Just because your Chabad Messiah was caught ripping his shareholders and the Tax off for US$190M, does not mean PA is of the same ilk. The fact that he removed himself from BKY to conserve cash should demonstrate that he is (as I have said previously) a man with Integrity. You and your masters on the other hand, clearly have no moral conscience, trying to provoke a war by committing genocide on the rightful owners of Palestine, in an attempt to justify their West Bank land grab is repugnant to all who remember the Holocaust !
Theo - What's it like having Paul Atherley living rent free in your head after all these years? Your fragile, bruised ego can't let it go can it?
The Company is now in the process of setting up its head office in Madrid and will ultimately seek to recruit a suitably qualified Spanish National for the Managing Director and CEO role
The above was the politics that was going on at that previous company.
Actually Theo if you read the RNS its clear that it was the change in Spanish Government that was the reason that Atherley and the rest of the team left :
BERKELEY ENERGIA LIMITED
NEWS RELEASE | 11 July 2019
Strategy and Management Changes
Berkeley Energia Limited ("Berkeley Energia" or "the Company") advises that Mr Paul Atherley has resigned as Managing Director and CEO of the Company to concentrate on his other investments in the resource sector.
Mr Atherley has been Managing Director and CEO of Berkeley Energia since June 2015 and has been instrumental in its growth and development.
During his tenure the Company has significantly advanced the approvals for the development of the Salamanca mine up until the recent change in Government.
Despite the ongoing very low uranium price, Mr Atherley has led several highly successful financings which have placed the Company in a very strong financial position. He also led the listing on the Spanish stock exchanges which has resulted in over 30% of the Company's shares being held in Spain.
Mr Paul Atherley commented: "It has been a great pleasure to work with the very talented team in Spain over the past few years and it makes enormous sense to capitalise on the growing interest in the Company in Spain where it is now firmly established as the only listed mining company in the birthplace of Rio Tinto and modern mining as we know it today."
The board would like to take this opportunity to thank Mr Atherley for his very significant contribution to the Company and to wish him well in his future business endeavours.
The Company's focus continues to be on progressing the approvals required to commence construction of the Salamanca mine and bring it into production, as well as advancing the recently announced battery and EV metals exploration strategy.
The Company will however now set up its head office in Madrid and ultimately seek to recruit a suitably qualified Spanish National for the Managing Director and CEO role. Following on from the Company's successful listing on the Spanish Stock Exchanges in 2018, these initiatives are aimed at further enhancing the Company's strong engagement with its key stakeholders in Spain.
While the recruitment process for a suitable candidate for the Managing Director and CEO position takes place, Mr Robert Behets, Non-Executive Director, will assume the role of Acting Managing Director, with immediate effect, and will be assisted in Spain by Mr Francisco Bellón, the Company's Chief Operations Officer.
Mr Behets, a geologist with 30 years' experience in the mineral exploration and mining industry, has been a Non-Executive Director of the Company since 2012. He has extensive uranium sector experience and has previously spent considerable time in Spain providing technical and managerial support to the Salamanca project team.
Mr Bellón will continue to manage the Company's day to day operations and now take a lead role in its sta