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Verifiable /ˈvɛrɪfʌɪəbl/
adjective
able to be checked or demonstrated to be true, accurate, or justified. "an easily verifiable claim"
Lessee - please post the link to your verifiable claim.
Welcome back Smartpunter.
Finished the breathless pumping for a while?
The only verifiable thing we have from the ramptastic Rainbow camp is that Chairman Zero Petroulis has bailed out of all his stock.
Heading for another Zero?
Mumbles
This is about the fourth time you have provided dates and details of the funding and the only, absolutly provable, fact was that the projected dates were wrong..
SP/DP I don't care whether you believe me or not, I was physically there
Link?
They have agreement for the offtake with a Japanese buyer. However, they will not be signing any formal documents with them until the finance terms are in place. This is because the agreement is 2 way, with an obligation from the buyer to take but also for PRE to supply. The agreement is CAP and Floor on pricing, with a take or pay obligation on volumes from the buyer . The 3 part structured finance agreement will be signed and in place early in Q1 , the ASWF equity portion being accessible immediately with draw down from the ABSA and Multi lateral development bank being permitted once CPs such as the off-take agreement have been satisfied. The same off-taker is taking the MREC from Longonjo as for the Oxide from Saltend. The contract converting from one to the other when the product comes available.
Luanda — The US ambassador to Angola, Tulinabo Mushingi, praised the role of President João Lourenço in achieving the new partnership between the two countries.
The diplomat who was speaking Wednesday at a press conference, in Luanda, explained that the meeting between the two presidents at the White House, ends a historic year of involvement and partnership that coincided with the 30th anniversary of diplomatic ties.
For the US, he stated, it is a profound transformation in the relationship and is due, in part, to the leadership of President João Lourenço and the Biden administration's commitment to investing in this partnership.
He added that this will be done through high-level engagement in agreements for the creation of large economic infrastructures and cross-cutting collaboration, whether global or regional.
According to the diplomat, in his approach to the results of the meeting at the White House last week, the partnership between the two countries is more impactful than ever.
He explained that several commitments emerged from the meeting, with emphasis on the Lobito Corridor, where the USA will invest more than a billion dollars. Regarding energy, he said that more than two billion dollars will also be invested in solar energy projects and the commitment to organize the energy security dialogue next year.
https://allafrica.com/stories/202312080071.html
Pensana's Longonjo mine, the pet project of the Angolan President, is anticipated to be presented to Mining Indaba fully funded with support from the Angolan Government, the Angolan Sovereign Wealth Fund, ABSA Bank and the African Development Bank. Terms Sheets will be presented for sign off to their respective Boards on completion of the 2 sets of DD running independently. One of the consultants engaged in the DD process was previously engaged to conduct DD for the mooted strategic partnership for the enlarged production facility, that did not proceed. The level of the opportunity for the US Government to engage with Pensana to action further development of Pensana's assets, is the subject of ongoing discussions with relevant parties including the UK Government, to what extent, is yet to be revealed!
One would think funding will be in place by the 5th of February for the President to showcase Pensana.
Importantly, Angola is looking to diversify and expand its commercial mining potential beyond diamonds to include critical minerals and gold in particular, which will bring a significant change in context to its mining sector. ASX-listed junior Tyranna Resources is working to help Angola realise this vision as it looks to develop and start mining the country’s first lithium project by 2025. In addition, LSE-listed junior Pensana is working to develop the country’s first rare earths mine by 2025. At this stage the mine will become Africa's first large-scale neodymium and praseodymium (NdPr) rare earth mine with an expected target production of 46,000 tonnes per year.
Mining Indaba is honoured to announce that the President of the Republic of Angola, H.E. João Lourenço, will attend Mining Indaba 2024 where he will deliver a keynote address to delegates.
His presence marks a significant step of progress for Angola and its mining industry as it seeks to increase investment and attract more companies to explore the country's potentially rich mineral resources.
https://miningindaba.com/articles/president-of-the-republic-of-angola-to-attend
The UK government has issued guarantees which secure Standard Chartered Bank to arrange financing for a €415 million contract between exporter Innovo Group and Angola
The largest-ever sovereign transaction which UKEF has closed in Sub-Saharan Africa, this enables the delivery of critical infrastructure in Benguela Province, a coastal region of Angola vulnerable to flooding and poor drainage
Over a third of the contract – more than £140 million – will be spent on UK goods and services, with British and Angolan communities alike to benefit from the deal
https://www.gov.uk/government/news/uk-firms-to-deliver-415-million-sustainable-development-scheme-in-coastal-angola
Is anyone out there attending the AGM tomorrow to ask the critical questions about the progress on the funding, and the timeline going forward?
Earthworks and civil works are just different phases of a construction project and subject to the same engineering as any other stage of the project. As the engineering has only just been completed, the earthworks can't have started before hand. The previous comment clearly referred to earthworks in respect of the construction camp. The civil works involve pouring concrete driving piles. This can't be done until the earthworks are done. For me there is no ambiguity or open to Interpretation.
Now at $2040!
Earthworks is pert of the construction phase. Presentation has construction starting in December (assuming both the 6 months duration and May completion for Earthworks are correct)
That’s a big assumption to make ?
Also isn’t earthworks part of the construction phase ?
Impossible to do the rest without the earthworks being done ? Which is being done now and continuing in Q1 24 -
Not quiet in Longonjo SP - busy, busy busy:
https://www.miningweekly.com/article/angolan-rare-earth-project-construction-progressing-2023-11-24
Busy doing nothing - apparently not....
Mumbles, at least you are consistent.
Calculate, its Friday, everything is dead.
Calculating. Until news on financing comes through nothing is happening.
On the plus side no reason to sell, and every reason to hold. If the RNS are accepted at face value. the DD (both commercial and technical) will be signed off and "REPORTED ON" before the year end.
23/11/23
The minister highlighted that the feasibility studies confirm a high potential to boost the economy, making it imperative to publicize them so that potential investors are aware of them, as these are important minerals at an international level.
Projects such as copper exploration underway in the province of Uíge, niobium in Quilengues, province of Huíla, as well as the exploration of minerals containing rare earth elements in Longonjo, province of Huambo, were mentioned by the portfolio holder.
For two days, the event includes round tables on 'Angola's vision for sustainable development in the mineral resources sector', 'Perspectives of mining prospecting in the face of technological modernization sponsored by Ozango', 'Development of a workforce for excellence ', 'Diversity and economic growth and challenges of the international diamond market'. MAG/DOJ
Over two hours of trading and not a single buy or sell. This must be some sort of record.
I guess we are all waiting patiently for news from South Africa.
Are Earther, Essentially 100% capital allowances, ie not added to the balance sheet. ie 250 million * 25% = $62.5 million of tax credits!!!, certainty assists big time when considering the affordability of any debt repayments
Lewis
Fair enough.
Tony
Tony,
You are better than that. Where is the Downramp?
I am waiting for finance like everyone else. The poll I ran on telegram, I stated Jan 24.
Do I think there is value here at moment? Possibly. Just too much risk for me.
Someone asked why it dropped 10%. I suggested hzm news was cause and I was lambasted
I regard it as really bad form to leave a stock and then write back on that stock as a down ramper. It is something I tried hard never to do. It is really disappointing when someone who is thought to be not like that chooses to use message boards in that kind of way.
Great insight and debate lessee, thanks for sharing. Lmao
You will implode if finance doesn't materialise this year.