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Theo, You never answered my question, how is Round Top going ? I did hear a rumor that you are now looking at a Silver project. You may be onto something there, it sounds as if Joe will need all the shekles he can lay his hands on to pay off his political lackies. Don't worry about Tony, he changes his mood with every wind change, in a couple of weeks time he might even be back praising PA for raising funding in such a hostile economic climate.
That was I nice piece you wrote about ARR by the way, but you failed to notice that their Competent Person puts a disclaimer on all their announcements ! Undertake to be, not is !!!
DS22. KDNC. ANGS. WCAT.BOOM.PRE. 13E. And you say I haven't got a clue???!!! Your record of picking losers is quite exceptional.
Theorist you haven’t got a clue - poor soul ……. Go back to the village
Chinasydrome
I have written my concerns arising with the RBW CEO on the LSE Board. I have blamed him for the main reason of such a pull back going on there and for him to stop treating the project as some kind of hobby.
Pensana was doing great when tons of money was flooding the market back in 2020. A major factor that has halted funding in the past was availability of money. Sadly the situation has not improved so the company is over the line when things are all signed off,
Yes I do have some Pensana shares.
This is more bash than bosh. All of you have read Tony’s posts for several years. You know he has a more technical approach to investing than most of us. In fact I reckon none of us think about bond yields in the context of investments like Pre. Give him a break.
Meanwhile great excitement. A non binding term sheet with unnamed lenders conditional upon equity conditional upon guarantees, should buy the company another six months. SP drifts back to low 20’s.
Tony i genuinely cannot understand what point you are trying to make.
First you post your concerns about a global equity market correction which seemingly will only impact PRE and not the other Companies you post about and now you are comparing PRE to an operating gold company in Tanzania?
Question for you are you actually a PRE shareholder?
Tony: Very transparent of you, I can't help but notice that you have completely failed to post any of these global concerns of yours on the RBW page. Come to think of it you never question any Rns that they come out with, even when they clearly fail to meet their forecast milestones ! Pensana produced more NdPr from the 60t Met sample back in 2020 than RBW have managed to produce from their "Pilot plant" over the last six months, correction "Lab Assay pulps" !
Tony your boring and comparing apples with oranges : there is no getting around the fact that when funding finally gets wrapped up - which can’t be too far away based on todays further positive update irrelevant of what the wider market is doing - these are undervalued base on any reasonable valuation grounds
Lessee
On the Nanoco Board folks are having to study every word on every communication from the CEO Brian Tenner. In the last RNS we thought shortly was a few days and it is now over a month. Company trading at an Enterprise value of £60M with $63M in the bank and a manufacturing plant ready to take orders. Tony
Lessee
I posted quite a lot of critique on the Shanta Gold board and took stick for it the other day because certain people did not want to hear it. They got angry when I posted news on Tanzania running out of USD and about Kenyan Minister wanting African sourced investors instead of those in Western economies on exploiting commodity resources in their country. I share info that I collect from a huge number of different sites.
Tony are you posting this level of critique on the other Board or just PRE?
Sundrum
When an RNS comes out a lot of people communicate on it.
I have mentioned the issue of what is going on in the USA markets for sometime on several boards especially on Centamin. For example, 10 months of false data on USA economy put out by LBS which zero hedge uncovered later on.
I also discussed bank failures and lack of dollars for projects in trying to get off the ground in Africa. In fact the USD shortage in Africa is causing a widespread problem.
As for the market crash many publications in the last week are showing a parallel situation to the dot com bust except it has extended to a far higher dangerous level. The article I posted that was published today sums it very succinctly. There is also various reports on dumb money going into the market as smart monies sell off. The problem for Pensana is not having things fully signed off and completed. They can not do anything about macro timing, but it right for us to be aware of something if it was not previously known.
Tony
Tony
My comments in brackets { }
The Company, has concluded a non-binding term sheet with the Longonjo lender consortium for a project finance debt facility (Facility). { I am not sure what non-binding means. Does it mean that neither side is yet committed. }
The Facility amount is up to US$156 million with a participation of up to 50% between each of the lender participants.
{ Explains what different parties are discussing}
The purpose of the Facility is to provide limited recourse senior secured project finance to fund the Longonjo mine, flotation circuit and refinery. {Yes this is obvious. }
The maximum tenor of the Facility is to cover the construction period and ramp up to full production plus four years to an overall maximum of seven years. { Not sure how much is needed in the first two years as we do not have details of annual draw down}
The Facility is conditional on obtaining guarantees from the relevant export credit agency for which discussions are well advanced. { It remains conditional until they get the actual approvals}
The Company is furthermore in advanced discussions with the Angola Sovereign Wealth Fund (FSDEA) and a member of the lender consortium to finalise the US$80 million equity component of the overall financing package. {This was discussed a year or so ago and have they already spent $15M of it}
I think that's an excellent idea!
Tony - Having not posted on the PRE board for over a month, today of all days you highlight your concerns about a global equity meltdown? For some reason you have also chosen the PRE chat forum to exclusively communicate your concerns, rather than on any other of the boards you regularly comment on.
It just so happens that today is the day that Pensana releases a particularly positive RNS communicating that the terms have been agreed for LJ project finance.
All a coincidence I'm sure.
Lewis, it was £2.07, still a huge drop. i also think touting a 50% increase from a month ago is disingenuous. What I will say is that the structure seems to have turned from a sustained depression in the SP over time, to a seeming increase in it
Progress made, pleased for LTH. Does however make me laugh when 50% in a month touted. As if anyone on here has caught the bottom and if it even makes a different from the loss in sp from just under 3 quid.
Back to positive, get the rest over the line and it could be perfect timing with an uptick in demand and ree price expecte
Tony if you are concerned about a stock market correction then i suggest you sell your PRE shares and buy bonds or gold.
To give you guys some idea of what I am concerned about is in the attached which is an aside.
https://www.gold-eagle.com/article/fallacy-wall-worry
Well done to the team, fantastic news.
We shall need see I study climb back to all times highs over the the next 12 months. GLA
Tony - probably worth another read of the RNS:
The Company, through its 84% owned subsidiary Ozango Minerais SA (Ozango), which owns 100% of the Longonjo project, has concluded a non-binding term sheet (Term Sheet) with the Longonjo lender consortium for a project finance debt facility (Facility).
The Facility amount is up to US$156 million with a participation of up to 50% between each of the lender participants.
The purpose of the Facility is to provide limited recourse senior secured project finance to fund the Longonjo mine, flotation circuit and refinery.
The maximum tenor of the Facility is to cover the construction period and ramp up to full production plus four years to an overall maximum of seven years.
The Facility is conditional on obtaining guarantees from the relevant export credit agency for which discussions are well advanced.
Tony - 750000 Shares traded in the first 3 hours is well above average trading.
You should say , does not suite your trading criteria as you have been caught out.
Lessee
Have you noticed how low the volume has been. Share trading activity was minimal. The RNS today was more about a confirmation that funding entities have not rejected the proposal. There are a lot of items still to sort out. The gap at the open by the way was unjustified as the volume again this morning was not high in my opinion and created an unnecessary gap in the charts.
Tony If they have invested in 5% bonds for 12 months then they are missing out on the fun.. PRE up nearly 50% in a month!