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Theorist and Dumbpunter, posts a minute apart, same forum different threads, both only ever posted about Pensana. Same person, one agenda, bore off. Anybody who listens to your rubbish deserves to lose their money. Looking forward to you both disappearing as quickly as you appeared.. :)
It's brilliant. China has found a way for Pensana to access raw material from Longonjo without a mine. They won't even need their miracle cure for the radioactive stuff . Magnets coming soon. Share price to soar to levels not even dreamt of. Splash your life savings here. Anyone in denial to be jailed or executed! Nobody needs to buy a comic, just join the share chat!
Theorist: " First Pensana does not have a mine or access to raw material" an outright lie !
Or are you so ill informed to have not heard about 'Longonjo' ?
I suggest you take notice of what is said in these discussions, instead of dreaming up Theoretical arguments that have no substance in fact. Better still Sod Off
An error should be some gas fired plants below.
Theorist
I am aware of Toyota and Tesla and many other companies looking into that issue. First stage is to produce and build the operations to produce oxides. The second phase is to build magnets for windfarms. The third stage is to build a hydrogen process facility to recycle existing metal with existing windfarms so they can be reused in the offshore locations. The National Grid of the UK have informed this government repeatedly that the capacity to support EV car recharging as they are forecasting is not possible by the 2030's. The last coal fire stations are closing and in 10 years time gas fired powered plants will close. The UK will need more solar, more windfarms and other reusable energy sources. The fact is that an EV revolution is not possible if we need to have the lights off in the winter as the demand for electricity to recharge those cars will swamp the grid. Like it or not the country will need Pensana and they will need Peak and Europe will need the Estonia facility and the one proposed in Poland to deliver the needs to 350M people. What is the point of having an automotive transformation if the means to provide the energy resource is not there to do any transformation. What is the point of Toyota or anyone else to make EVs if the owner has to ration when they can charge and use the vehicle. Whatever it takes to build magnets will happen because it has to happen otherwise we have no future climate protection. I am sure it is not lost on the ATF staff what the industry needs. I am sure the ATF staff are not building a portfolio of projects that fit nicely into a white elephant silo. Tony
If the committee rejects the Pensana proposal it would need to be as a result of showing the UK could obtain magnets sustainable from another source. So far that does not exist.
Tony, there is no realistic hope of the Uk being able to obtain magnets from Pensana. First Pensana does not have a mine or access to raw material. Second do you have any idea of what it takes to build a plant to mass produce magnets? Not to mention the R & D and technology involved? I am sorry but it will never happen. Just to give you a tiny taste of what is involved in magnet production read this from Toyota:
Development background
It is important that magnets used in automotive motors and other applications have high coercivity (the ability to maintain magnetisation) even at high temperatures. For this reason, approximately 30 per cent of the elements used in magnets are rare earths.
When powerful neodymium magnets are used at high temperatures, such as for automotive applications, terbium and dysprosium are generally added to increase high-temperature coercivity. However, terbium and dysprosium are rare and expensive metals found in locations with high geopolitical risks. Because of this, considerable efforts have been made to develop magnets that do not use these metals, and positive results have been achieved.
Production volumes of neodymium are relatively high among rare earths, but there are concerns that shortages will develop as electrified vehicles, including hybrid electric and battery electric vehicles, become increasingly popular in the future. Despite this, little effort has been made to address neodymium use.
To overcome these issues, Toyota successfully undertook development of technologies that can eliminate the use of terbium and dysprosium and reduce the amount of neodymium used. Through substitution of neodymium with lanthanum and cerium, which are abundant and low-cost rare earths, high heat resistance can be maintained and loss of coercivity minimised.
Use of rare earth in neodymium magnets
The new neodymium-reduced, heat-resistant magnet is able to maintain coercivity even at high temperatures because of the combination of three new technologies: –
Magnet grain refinement
Two-layered, high-performance grain surface
A specific alloying ratio of lanthanum and cerium
Mine to magnet is a lovely sounding cliche, but that is all it is, a cliche. Pensana needs to focus it's extremely limited resources on becoming a miner and forget this nonsensical dream of becoming a major manufacturer. It damages the credibility of management and erodes shareholder wealth.
An excellent explanation Tony.
Looking slightly further ahead Pensana's financing is expected to include bonds – having read the recently published UK Government Green Financing Framework document all of the points you have highlighted will be relevant in assessing eligibility for Green Bonds.
Here's a link to the document, IMO essential reading for all interested in Pensana – https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1002578/20210630_UK_Government_Green_Financing_Framework.pdf
How these things work.
Expression of Interests on a fund of £1000M usually attract shed loads of applications. The EoI rejection rate is likely to be absolutely huge. The effort to work through a full proposals are significant. The programme management and commissioning group will know that on full proposals that it requires an adequate success rate as industry and academia would demand government to release that figure after the process has completed. The programme is designed to operate efficiently as it uses so much resources to carry out due diligence and it is also finite. A Chairperson will point out the metrics to programme managers and those making the decisions. The EoL phase is therefore utterly ruthless and hence why it has repeat calls and only the best in the class get an invite. The probability of full proposal support is therefore likely to have a target of 35-50% of being approved and receiving support.
As for what is being proposed by Pensana is a direction of travel of how it would be a self sustaining business and it powers the entire industry. Pensana has held discussions with the automotive industry and I dare say making vehicles uses a lot of power off the National Grid. If the committee rejects the Pensana proposal it would need to be as a result of showing the UK could obtain magnets sustainable from another source. So far that does not exist. The second reason would be that they are convinced the public would fully accept an alternative to magnet technology that would not sacrifice any on-going market efficiency by such a substitution. So would the UK like to go and frack gas or build more nuclear power. If the National Grid can not supply enough electrical energy to recharge all the EV that will have a big impact on transport. The National Grid may need new windfarms and other sources to achieve it and the prospect of windfarms not operating without the magnets would be based on a hope and a prayer. I therefore see the Pensana application as highly relevant. It does not matter if the magnet is in an EV car or not although the public may want cars that do so, but they sure do not want blackouts hitting the country and all of us locked down at our homes with nothing working. Tony
@(Conspiracy)Theorist - You have been asked 5 times whether you own PRE stock and refused to answer. PRE is the only stock you comment on. You only comment negatively. Hence you have no credibility and no-one is listening to you.
I think you'll find that the company applied in Round 7. The announcement back in March was "successful first phase progression" although it is unclear what that means. It is not a term used by the ATF itself. The results come out and applicants are notified 3 weeks after each round closes so it very strange that there has been no follow up announcement by the company. I would be extremely surprised if the company got any cash out of the fund, I think if they already had a supply and some active automotive R & D or technology then just maybe. It's hard to see what they offer now.
I have reached the point where I no longer care "When" the ATF announcement arrives, Having once worked as a Public Servant I now remember that the only clock they watch is the "Going home time" one ! That there will be an announcment at some time is a given, in the mean time Pensana has sufficient funds to commence all of the "Long lead" tasks.
The longer the delay, the higher the price of NdPr will go, so when the ATF is announced the higher our SP will rocket and the less dilution will be required to fill the bridging gap.
I've found the details for ATF EoI Round 13 here:
https://apply-for-innovation-funding.service.gov.uk/competition/972/overview
It opens today Jul 30, closes Aug 18 and results go out on Sep 24.
So we can all forget about any Pensana ATF RNS before at the earliest Sep 24 and instead get out and enjoy the great sod*ing British summer.