Pensana Plc Share Price (PRE)

MyIPA - I actually agree with a lot of what you have said so thank you for your contribution.

Admit I have become fixated on today's RNS as I would have expected a confirmation of an extention rather than a discussion. But as you say, the timellines suggest otherwise.

Anyhow, let's hope we speak again soon with some positive news.

I assume FSDEA not financing the whole due to risk management. Why need to if you can get another bank to - then you can lend your money out to do other things. Are they not already financing some $89m powerline upgrade or something?

Agree nonbinding is toilet paper. Surely that's not what is coming. Problem is all these mining stocks is they need the financing. Until then. doesn't matter what news, it's undervalued these days compared to what it would be in the past.

Beyond me.

As for the remainder of the finance. That comes down to the terms. A non-binding term sheet is toilet paper.

So it then comes down to project value against those terms, 60p ish was mentioned but that mayhave changed based on terms. Also pre need to keep the uk lights on and those bod incentives flowing.

Another raise? The bod loan back to themselves? This won't last until 2026 when the mine produces.

Lots of factors with limited important details omitted imho

"I just find it hard to believe that the FSDEA (Angola Sovereign Wealth Fund) puts in $80m and that ABSA Bank (Amalgamated Banks of South Africa) would never finance the remaining (reduced) capex requirement of $120m."

Agree Angola are ALL in as it would be extreme egg on face if not by now. Why they don't fund the whole project is beyon

Ah ok - which bit of vagueness in particular? timelines? I think today has helped with those. Agree this is not a main financing announcement, but an update on what would otherwise have been a loose end no doubt detractors would have whined about. It is good an update on the status of this was presented in a timely manner.

Qusetion: Why are you fixated on there needing to be a specific end date for an extension? 27th June 2023 stated it would be paid back as part of the main financing because the 15m is part of the whole capex - so on main financing I assume the FSDEA stumps up the remaining $65m and then ABSA stumps up the $120m (I assume both in tranches based on whatever agreed development timelines). So this main financing, as the timeline is uncertain for completion, means it couldn't have been set in stone anywhere. Initially 8 months. then 9 1/2 months, now what, 11 months end of May? ABSA Bank is not in Angola and is separate, so probably even more due dilligence required than if it was using a bank in Angola.

Anyway, spent enough time thinking about this and how it affects my investment. Will await finalisation of main financing.

The FSDEA, bluntly, is financing the $15m of works currently underway - which is an improvement in the infrastrcuture of Angola. It's a win/win. It's also hard to believe the FSDEA would let this project fail by not stepping in if needed.

I just find it hard to believe that the FSDEA (Angola Sovereign Wealth Fund) puts in $80m and that ABSA Bank (Amalgamated Banks of South Africa) would never finance the remaining (reduced) capex requirement of $120m.