Member Info for BwanaMakubwa

Fireant-just so you are aware, this is a very decent Board with some really excellent LTHs and posters.PRE shares have however, been subjected to an aggressive and concerted short attack by a bank prop book or hedge fund represented on ADVFN chat as HamiltonEngineering.He also occasionally appears on LSE as CityMiner.The more experienced realise that his arguments are completely unsubstantiated, often blatant lies and in my opinion his market/company knowledge leaves a lot to be desired. However, his operation has shorted a lot of shares and spooked out many of our looser, more inexperienced holders.I give you this background incase you wonder why some of our replies were a bit curt.Anyway your history shows you to be completely genuine, so welcome as a shareholder and any further questions fire away.

I agree Panino-they are seperate operating entities with different models and markets. I also agree that we do not need an RNS on this. But I would like to see Bion's response to Hamodeh as there are links between the companies and I would like to see a formal Bion communication that this is of no concern to them or their shareholders.

Many thanks Hamodeh. Please share any reply.

Guys-I agree with you all-this is an excellent move by ITX. Growing companies need capital in order to grow their returns-Return on Capital employed .Here we have a fast growing company who have raised a minimal amount of capital at a very small discount in order to continue their fast growth pace and capitalise on the opportunities ahead of them. We have a new institution on board and support from an excellent existing shareholder in IP Group. Of course new capital will be required in the future, but it will be done at much higher prices and for the same reasons. This is certainly NOT a desperate raise at a huge discount to prop up a struggling company-something we often see on AIM. Very strong and confident signal in my opinion. Management here are top notch.

Hamodeh-do you have an email address?

Hillbilly-good research..thanks,despite the wrath incurred from some corners!!

Thanks EmS-will take a look.

Safetrader -with the greatest respect, this discussion is not intended as a "co-ordinated scaremongering strategy". I own just under 1% of ACP and am VERY bullish on the company. I am sure you are right that MB has considered all this ,but feel that next time someone has contact with him it is worth finding out what % of the $39m has been allocated for transport infrastructure. Highveld makes a perfectly valid point-the mine is remote and the transport infrastructure poor, but as you say it is highly unlikely that MB will not have considered this in his capex calculations. I have also implied that costs can be reduced by sharing with our neighbours-this is to everyone's advantage. I like you want the shares up. My personal 3 year target is 35p. No offence taken, but just to be clear that neither HV or I are scaremongering.

Highveld-this is a very valid point. I suspect you will be right that there will be conditions on infrastructure tied to the ML.I have no clue if there are any provisions for this in the $39 million of capex-this is worth finding out next time someone has comms with MB.
Blackrock and others will be in the same situation, maybe there is scope to share infrastructure costs. Although a problem, certainly not insurmountable and has been dealt with by other mining resource companies in very difficult logistical environments like the DRC. Just hope the cost is not too much.

China-thanks for the detailed explanation.

...only joking, but this is logical and to be expected. Musk may well be thinking along the same lines. Can only be really good for HZM.

https://www.kitco.com/news/2021-06-01/Volkswagen-to-become-a-miner.html

Very interesting post Hamodeh-really appreciate you staying on top of this rather complicated local politics!!

China-could you please explain what "mortgaged " short is. I understand the concept of shorting shares you have borrowed and paying the cost of borrow-which in PRE's case would be a high cost if you could borrow any at all-but I am unfamiliar with a mortgaged short. Thanks in advance.

Interesting China. I am now pretty sure that our friend "Hamilton Engineering" works for the shorter. See his comment yesterday on ADVFN "Anyhow I have just reloaded and I now think we should be looking at 80/85p by the end of June."
this co-incided with heavy selling yesterday morning.
Apologies-I have just read your subsequent ADVFN post-we have come to the same conclusion!!
He is playing a very dangerous game.

Agree Mike. That was my feeling.
Tony-did the website you mentioned name which hedge fund was short?

I had a brief conversation with PA today to clarify a few points:
-On funding expect to have the full $425m in place by year end once all FEED work and logistical work is completed at Satend and Longonjo.
-3 sources of capital 1.The ATF-expect decision here at end of July,but going well.2.Bond finance-engaged with several green financiers (no names given),also going well.3.Equity raise.
-S&P CCC rating on Angola not a problem as all the bond guys have experience there already.
-Longonjo and Saltend should be ready for construction end of 2021.Longonjo should be in production early 2023.
-Jeremy Beeton has been involved in many billions of dollars of projects around the world and will be heavily engaged through the construction processes.He is very enthusiatic about creating British manufacturing jobs.
-BFS was superced by BP.We only saw a small summary of BP.It is a large document and will be heavily used in funding discussions,but contains a large amount of confidential information that they cannot risk get into competitor hands.
-Share price weakness due to a hedge fund shorter.
-Not overly concerned by Peak announcement-feels they need to get their Tanzania ML sorted before they can really do anything.Points out that Peak have lost Rocky,Dave Hammond -their COO and Rory Gordon-their senior metallugist to PRE already.
On balance a good call and he sounded pretty positive.I am pretty sure we will see the shares performing again as we get closer to the year end funding announcement.

Thanks Tony-where are you seeing that please?

...come on I3E,make up some ground.

Thanks Isleworth-total 101,496,443 warrants, including those just announced-quite a few more than I had realised.Gets us closer to Wasa's 700m fully diluted shares outstanding-though I assume some have been exercised hence the share count of 501m in last RNS rather than the 460m I had thought?

Some interesting points made below.

Isleworth-you make a great point I think re Covid, which I think is now being taken more seriously in Tanzania and this is something we will have to watch out for.My hope is that the mines are located in a fairly low population density area and hopefully not as badly affected as the more densely populated urban areas.Anyone in contact with Matt Bull should probably get his opinion on this and share with us.

Re shares to be issued I agree with Rover, given the short payback and relatively small amount of money needed-USD 39million (GBP £27.5m), most will be debt funded.But say they raise conservatively 20% to 25% equity at 8p this equates to £5.5 million to £6.9 million or 68,750,000 to 86,250,000new shares.So in total we should end up with something like 568m 586m,plus any outstanding warrants (does anyone have an accurate number on these now please?).But ballpark I cannot see much beyond about 620 million shares fully diluted (in total including warrants)-pretty damn good for an African AIM miner.
So using WASA's number of 50% NPV at start of production gives us £151 million market cap divided by 620 million shares gets us to 24.5p per share.
In reality we can probably go a lot higher-the above is calculated on NPV of 25% of the asset and I can only assume the price of graphite is going one way-but difficult to get a handle on exact price as each contract seems to be negotiated separately,but we may get a better idea once offtakes are agreed.However,I think 35p is easily achievable.
All sounds great, but we need to try and get a better understanding on Isleworth's critical Covid point.

Hi Seagulls-take a look at this recent interview with the Chairman:

https://bit.ly/3dVtnkh

Reasons for the share price weakness in my opinion only:
1.The much promised Business Plan disappointed many who were expecting a detailed 100 page document.Infact we only got a brief summary.To my mind expectations of what was going to be released in the BP were way too high with much of the detail on construction contracts, finance contracts etc, firmly under NDA.
2.The Company is very quiet re funding at the moment-this is making some nervous and leading to profit taking.

By the way there is an excellent Telegram Group for PRE which is also worth joining.