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There is a macro equity market event fear of a major pull back. Pensana can do very little about. A lot of people have invested 5% income on 1 year bonds. Equity liquidity is currently really poor.
Thanks SunDrum
4kandles - there is plenty of chat about this on another platform. Everyone got bored of the derampers and took their discussion elsewhere. If you are interested, get in touch with admin on the PRE Facebook page - they can direct you.
It looks like folks have been waiting for so long that everyone dozed-off
That’s big!
Debt funding (auto correct!) of course
Is this not very good news?
The guidance given in the RNS is Q1 2024, although there were aspirations for Indaba conference. Which unfortunately didt come off
Anyone know why finance here is taking an age? It's over run PAs guidance... reckon it's on the cusp of landing?
Looking very good for the future here : could be in for an good year or two
Mumbles - thanks for the encouraging update - just need to sit tight now.
Worth a read:
https://oilprice.com/Energy/Energy-General/This-Year-Could-See-a-Significant-Rebound-in-Rare-Earths-Metals-Prices.html
Salients:
Since mid-2023 rare earth companies have been hit hard by plunging prices: MP shares have tanked 50.0% over the past 12 months, Lynas shares have tumbled 42.7% while Arafura Rare Earths Ltd (OTCPK:ARAFF)(ASX: ARU) has crashed 78.5% over the timeframe.
Shanghai Metals Market say rare earth prices have likely bottomed out and could be poised for a rebound in the second half of 2024 on the back of strong demand by the electric vehicle and wind power sectors, claiming further downside for rare earths, particularly for neodymium-praseodymium (NdPr) oxide, used in permanent magnets, which fell 38% last year, is limited with prices near the production cost level. Guolian Securities has predicted that NdPr oxide is likely to record a 800-metric-ton deficit globally in the current year, flipping from last year's 6,600-ton surplus.
"We expect extra supply to be more or less cleared by end-2024, as demand catches up with supply through continually increasing electric vehicle sales and wind turbine production," said analyst Willis Thomas at CRU Group.
Las Vegas, Nevada-based rare earths miner MP Materials (NYSE:MP) and its Australian peer Lynas Rare Earths (OTCPK:LYSCF) (OTCPK:LYSDY) may be working on a deal that would merge the world's two biggest producers of rare earths materials outside China,
Lynas’ managing director Amanda Lacaze revealed that the company was constantly being pitched M&A opportunities.
The VanEyck index for rare earths is also on an uptick since the start of Feb supporting these trends, see:
https://www.forbes.com/investment-funds/remx/?sh=314bc0132f75
At a risk of severe abuse from the usual suspects.
Based on a very recent discussion, it seems that the heavy lifting for the project has been completed, and the term sheet required for the rest of the financing to proceed has been agreed upon and signed off. However, multiple stakeholders are involved, and each has their lawyers. These stakeholders include Pensana, FSDEA, ABSA, the Pan African Infrastructure Development Bank, and the South African Export Credit Insurance Company. The agreements and contracts are currently in the markup stage and circulating among the stakeholders.
As a result, the project is not being driven solely by Pensana, as the financiers and lawyers are now performing their final functions independently. An exact date when Pensana will complete and announce the financing cannot be accurately forecasted since it depends on all the stakeholders agreeing and signing off on the whole finance structure. It could be a matter of days, but if any lawyer raises a query, it has to go around all the stakeholders for comments and signatures, which can delay the process. This isn’t unusual in a relatively complex structured finance arrangement such as this one. Patience is required, but everything seems to be on track, as previously advised.
Hi Mumbles2021 - Filter , ignore is bliss ,suggest your do the same .
GL, I'm begging you. Please do not take Theo's bait. He's bored!!! As far as Dar is concerned, if the preferred destination is East, or north through Suez (unlikely at the moment). Otherwise 2 and 1/2 weeks to Northern Europe or the states works fine. Trafigura are involved not through any altruistic motive but to get the cost of their logistics from the DR Congo copper projects to export points covered by other parties.
Reptile. Do you honestly think Biden gives a monkey about Lobito. He wouldn’t even know where it is. They’ll probably take the railway down to Dar.
US. President Joe Biden has a full plate when it comes to foreign affairs—many of which are giving him more heartburn than he would ideally prefer heading into a tightly contested bid for re-election. But there is one under-the-radar project that his administration has pushed that could likely end up becoming his signature foreign policy legacy for decades to come—the Lobito Corridor. It's a multibillion dollar railway investment that connects central and southern Africa to a deep-water port in Angola that will become a pivotal piece of the supply chain fueling the expected $10 trillion global clean energy economy.
Yet in one fell swoop, this signature initiative of the Biden administration has the potential to accomplish a triumvirate of major long-term U.S. foreign policy goals: countering China's global dominance in the critical minerals supply chain, kicking off an unprecedented wave of development in key developing African economies, and perhaps most importantly, unlocking access at scale to the key inputs needed to power Earth's migration to so-called clean technology, providing a real path forward to a future less reliant on hydrocarbons
"The Lobito Corridor is, hands down, the most transformational infrastructure project to ever occur in central and southern Africa," Pereira Alfredo, the governor of the Bié Province in central Angola, told Newsweek. "Not only will this initiative unlock access to critical minerals mined in Angola, Zambia and the DRC, but it will also spur a wave of tremendous growth and development along its route."
"It's one thing to have oil reserves, but as the world slowly but surely starts to migrate away from carbon-based power solutions, being a gatekeeper to the biggest channel of goods in and out of the heart of Africa is far more valuable. Not only will the Lobito Corridor catapult Angola's standing onto the international stage, as a major entrepôt in the critical minerals supply chain, Angola will soon realize that it is a significant player in the soon-to-be multi trillion-dollar clean energy economy," she said.
https://www.newsweek.com/africas-angola-holds-keys-ushering-global-green-economy-opinion-1869709?fbclid=IwAR1l6J8vcJ71AirCht1Z3uNj9cmCTHOlg7-aoQsvw-7EJRMj6ljHxotdK0g
Maybe the market makers ate too much pancake today - SP on the up despite some heavy sells.
20 day MA has already up-crossed the 50 day MA and should break the 100 day MA tomorrow, if sustained.
Might even crack the 200 day MA in a few days, so we get back to the average SP levels back in April 2023.
Progress of a sort?
Pancake day?
Mumbles - that is a very fair point! Made me laugh,
Found it - CFTC's EEMAC meeting,
You are meant to be buying a card, and a present, plus making a dinner reservation for your better half tomorrow
I have todays date noted down for something to be happening. Can someone remind me what it is?
The reason is that no trading of shares would be able to occur before trading commences at 0800 on Monday, after the obligatory RNS at 0700 on Monday morning. I have no opinion one way or the other whether an RNS will be out on Monday, as I don't have any for any other day of the week. The guidance says Q1. That's all we have for now.
Your analysis of the trading on Thursday was really interesting.
You say that news of funding would come out over a weekend for obvious reasons- can you explain your reasoning for this view. Surely any announcement would come out within a RNS in the normal way.