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Just cos the papers said £4m doesn’t mean it’s £4m. I think it’s a typo with a number due before or after the 4… :-)
Guilty, I have been operating in too may currencies lately !
But it does not detract from the fact that it unlocks the UKEF, which is significantly more important to attracting funding.
Time for your mid-day Golf lessons there MJM, hope you make it out of the locker room.
Theo, the £4 M was never meant to unlock finance for the mine. How can it. But it can and most likely will unlock the finance for Saltend. Which then will be an established financed offtaker that will be ready before the mine starts producing consequently assuring cash flow from day 1. Very catch 22. I admit I've been struggling a bit recently. Bit seems to be coming together now, very nicely.
Theo - More words that will come back to haunt you. You have not accurately predicted a single outcome accurately yet - Artisan Partners, ATF etc.
As you enjoy literature, perhaps the old Oscar Wilde quote will resonate; “To lose one parent, Mr. Worthing, may be regarded as a misfortune; to lose both looks like carelessness.”
Theo, read LewisW's last post. £4m is US$10M which is almost equal to the 2021 cash burn, Now the ATF in itself may be paltry but it unlocks access to the UKEF, which is not. Give it up why don't you ! We have the ATF, which you said we would NEVER see, We have FEED which you said was a myth and a little later today we will have Planning Permission, which is the last key to unlocking Finance.
Agree with Mumbles, £4m is a pointless sum. It will not help to unlock finance for the mine, as I said before it just covers a few expenses such as Rocky’s bonus. MJM may be a halfwit but he is right too, it’s money down the drain.
K n o b h e a d
MJM3 if my government gave a significant chunk of cash to a project with the forecast profitability of Pensana, i would be seriously asking why it wasn't in the form of equity. Depending on how the grant has been justified, ie to unlock investment then the minimum required to achieve that objective is what is required. Anything more is not value for the taxpayer.
MJM3 - Are you seriously that naive? If so, you should really repatriot yourself back to the village that have been devoid of their idiot for a while.
MJM - Quite right.
Here is far more up to date info - Today's RNS https://www.londonstockexchange.com/news-article/PRE/completion-of-feed-and-value-engineering-study/15467433
Or Sunday's news about the Government putting £4m into the company - https://www.cityam.com/business-secretary-backs-vital-minerals-plant-to-reduce-dependency-on-china/
Much more up to date.
Welcome GS. Always good to have a local to keep an eye out.
For an idea from the 'horse's mouth' as to what's to come:
https://www.youtube.com/watch?v=_nQ0YbamzVU
From some two months back.
ATB.
Gothic - Welcome aboard the good ship Pensana. If you have been following for a while and done your own research you will have worked out the agendas of our downramping friends. Well done for seeing through them.
I have watched this stock since April 2021 and followed the various threads on LSE, sitting in the background...it's amazing what you learn when you observe and research. Some interesting posts, some less so and (unfortunately) some completely pointless posts, like this one....perhaps. Anyhow, thank you for some useful insight and guidance on what was a significant unknown in 2021. Best of luck whichever way you decide to go with this one but for me there is now a viable investment opportunity following consolidated lows of ~8 months and having useful insight as a marine consultant on the Humber Estuary..