Member Info for British_Mike

Mr.C - If you (or anyone else on here) can't handle (or afford) the high risk : high reward nature of micro cap oil explorers... then you're looking at the wrong stocks.
My suggestion is to stick to stocks like Tesco's where your money is as safe as it is in the bank.

Is it the BFS on the 16th or just an update? Still confused what to expect now as things have changed recently.

The bb wasn't working most of the day

If China want to ban the import of copper from Aus then fine - let the spot price of copper go through the roof.

If we are sitting on a massive copper sulphide Arya they will be wanting to buy us out next.

Hi, some great posts.

In a latest interview Paul Atherley mentioned he expects mine construction (not breaking ground) to begin in April/May 2021.

Assuming the U.K processing plant is given the green light - how long does people here think the plant will take to organise before being able to process shipped ore? In other words, would the processing plant plan kick the 'first carbonate' timescale further down the line to production in 2023 instead of 2022 etc? I'm not talking BFS here - the mine construction running in tandem with the U.K processing plant is what i mean.

As Tony mentioned previously - before the U.K plant idea the mine construction appeared straight forward. Does the U.K plant set back production? Or once we have an offtake agreement in place can we start mining and shipping elsewhere until the U.K plant is ready? or is it probable that the U.K plant would be built before the mine is finished being built.

Thanks for your thoughts.

This is what happens when a BFS that was repeatedly "on track mid-October" is late.

Markets hate uncertainty. Paul Athetley seems a decent and motivated guy - but shouldn't be saying the BFS is on course for mid-October when it clearly isint.

The BFS was due "mid-October" - Paul Atherley.

However, since deciding to explore the U.K. upstream processing option (great in my opinion as a US trade war with China could cause issues when we come to production - and this alternative makes us self-sustaining and good post-Brexit).

How I see it is that the funding outcome determined by Woodgroup will take 3 months - and wants to be included in the BFS, hence the delay. An update by 16th November as by then PRE will know the selected U.K. site (if any) and if the CAPEX suits PRE's strategy.

A question I have for PRE (if they read these forums) is clarity of the Angola infrastructure. I believe the Chinese have invested heavily into the rail links, port hydro power etc so does this mean PRE will have no 'issues' when it comes to transporting and exporting the ore? If we by-pass the Chinese for upstream processing 0 they don't 'own' the dock etc? I assume the Angolian government have full control over its use so we don't end up with some offtake/tariff deal to use the port etc.

"An update on the BFS and the new development strategy will be reported by 16 November 2020."

An update, not the complete BFS by 16th November. This is ok with me as the BFS will contain even more in the latest work.

RBW have done similar with their delayed JORC.

This UK based processing plant idea is massive - interesting to see how that pans out.

Tomorrow good time for BFS as it's still October and being a Friday people can discuss and absorb over the weekend.

Thank you for your replies, very interesting.

I have a question.
Lynas Corp have been in production since 2012 (just missing the rare earth price spike in 2011) and are today valued over £1b market cap. Yet they have never paid a dividend - why is that?
I realise the Japanese helped bail them out of trouble, yet the sp (value) has been lifting since 2015. Will Lynas (and thinking about Pensana now) ever offer a dividend? If not, no point hanging around after the growth burst to production stage.

Lol Henners, possibly. Yet, if you can't see my point or have a different take on things then great.

Allthatglitters - More to it than that.

Firstly, why sell yesterday when this news hit today - why not sell today, after the news. So it means we have lost respect and integrity towards Mr. Habib as in this game it's all about trust. Clearly this was leaked to his wife.
Secondly, the iron ore stockpile is being shipped more rapidly (the ramping up by larger investors in NRR today) which means Phase 2 CAPEX is likely required earlier.
Thirdly, what's stopping the big boys diluting us further? I appreciate dilution can occur, yet this is still fresh off the deal. I wonder if AMC knew this was likely to happen or if they've been f'd over and not knew it was coming? Either way, once this was known, Mr. Habib's wife offloads £5k.

Why not just sell today so it wasn't suspicious. We need to be able to trust the BoD.

Also, just because people like me are moaning - it doesn't mean we are selling off. The SP has dropped, as it always does with less than positive news. The MM's will have a field day rising and dropping this stock over the coming weeks to TEO.

"The drop yesterday makes sense now, that's one nugget of respect LOST for Mr.Habib."

Can't beat a bit of inside information from a loved one!

The drop yesterday makes sense now, that's one nugget of respect for Mr.Habib.

Rule #1 for a BoD - Never f your shareholders over.

Be interesting to see what events take place next with this stock

Love the way the MM's open PRE at 65p on 'no news' - cheeky!

Good luck C4S

With about £1m falling off the market cap each week... only about another 20 weeks to go to bring it down ready for speculative growth entry I'd say.

Hi Wilson,

If PRE release the BFS bang on schedule then I will be mighty impressed. A study of this magnitude has a scheduled completion, yet something of such importance that takes so long and in depth to produce (as the BFS will be like underwriting the asset economic feasibility).

RBW have been waiting for a JORC 7 months over due. If PRE release the BFS by the end of the month it will really show how class the management and contractors are with this project. A small delay releasing the BFS wouldn't surprise me.

The SP is probably a bit jittery with the anticipated BFS - as the LSE has 3-bagged, yet the rise on the ASX is of several more multi-bags... some investors probably still nervous sitting on a lot of paper profit!

If the BFS is flat (expected result) then I guess the previous high of 93p will be the new low. I personally think a spike in the £1 something likely then settle down around 93p-£130 as we await construction phase - only a guess though!
If the BFS is better than expected then who knows where this could go.
If the BFS is below expectation then we have a bumpy ride.

The Coola block is still a wildcard which could go either way.

Plus, how can it be stated that the Mongolian government is soo "supportive" if the committie that is to process the application is not yet formed - they could be a bunch of tree huggers for all we know

I agree. I don't much care about Mike Buck's waffle anymore and am getting annoyed by this whole stalled process.

If the Mongolian government was soo "supportive" and eager to get going - then they would have sorted this restructure bs out by now. How can it take so long to form a committie and sign the document?

It's become a joke of a situation now and needs wrapping up.