Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The previous news article link is after the 27th April 2020 company release (available on Pensana's website). Quote:
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The key fiscal terms under the Mining Investment Contract are:
2% royalty on revenue;
20% national tax and 5% municipal tax on revenue following an initial two-year tax holiday;
Custom duties exemption on imported equipment;
Full 5 year capital repayment allowance;
Dividend tax exemption for 3 years.
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I mean it does say revenue.
This is all I've read on this situation but perhaps there is more up to date news now https://www.shiftingshares.com/ig-announces-100-margin-requirements-on-1000-stocks/
@PaulAtherley2 on Twitter
Looking forward to presenting the latest update on the rapidly evolving Pensana Rare Earth story tomorrow
https://ukinvestormagazine.lpages.co/15th-december-uk-investor-magazine-virtual-conference/?fbclid=IwAR3aC6GDFbviMBd5cCg1t6Gtwe4fDe5yM-xZulbrdtZt6kQ0HY7XWYnHU7A
I would expect China to be influential rather than directly controlling. But my bet is western countries will see this as strategic enough that they will put their own weight into the fray. I'd like to hear a direct question to the board on this though.
Regarding ownership, this is just from Wikipedia but perhaps a start to dig deeper:
Port of Lobito
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"The port belongs to the Angolan government, which is responsible for its administration through the public company Porto do Lobito E.P.. "
Benguela railway / Empresa do Caminho de Ferro de Benguela-E.P.
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"The Empresa do Caminho de Ferro de Benguela-E.P. (ECFB-EP; in English: Railway Company of Benguela) is an Angolan state-owned company responsible for the administration of the Angolan stretch of the Benguela Railway."
Not sure about the dam. I was a bit thrown because they have mapped Gove Dam by the looks of it, but referenced Laúca. Perhaps they were just showing where they could tap into it as they also show an interconnector. Can't obviously see any China funding for this. Brazil and some commercial banks in Singapore/London providing loans.
I've topped up a little. I won't get rich off this because I'm still somewhat prudent with 15% of my portfolio (including cash)
and have only just started investing so my portfolio is small overall, but pretty happy to have discovered this for my 3rd ever investment in the markets. Hopefully this will give me a good leg-up. In at 41.22p and 89.7p (average buy price 55.7p). At this point, as far as I can tell the downside risk is minimal with a very likely multiple upside. Politics, infrastructure, demand-projection, management, competitive landscape, expansion possibilities, ESG, local investment, projected costs all look very promising. On the flip-side, risk scenarios seem either very unlikely or counteracted by other likely upsides. Element I'm most skeptical of is my own inexperience judging in judging this!
Google Finance currently says 665.88M market cap on PM8 which confused me for a while too (especially since I'm new to this), but the ASX exchange site says 144M which is line with London. I've no idea where Google got it's figure from, but perhaps you were looking at the same source?