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Also on the grapevine is likelihood of the Strategic being Sibanye Stillwater, with ongoing discussions about both short and long term investment.
They are a great fit for Pensana focussing on metals supporting the environmental revolution, and are sitting on $ 1.5 billion of cash reserves. Rare Earths currently missing from their portfolio.
Watch this space.
We will get the Pensana Interim results tomorrow or Friday which should give everyone an update on the funding situation.
Any positive news in the RNS should see these shares go ballistic.
GLA!
Hi Mumbles, Excellent summary of where we are and how we got there.
I guess the burning question is whether the bond markets are any better now than when the offer was rejected in 2022 Q4 .
Thanks Mumbles, you are probably right.
It was just an idea to stimulate some discussion other than the usual FUD rubbish on this BB.
There is a serious point though as to how the funding is going to be secured with the current financial headwinds before the cash runs out?
TGL, you have completely missed my point.
We need funds now not in 25 years time and without them there will be no Pensana.
Coola could only be call "Crown Jewels" if it is valuable, and as rare earths will be a thing of the past by then it will be a bit of worthless scrub in Africa.
Share price seems steady around 60p with generally few selling and any stock being snapped up by institutions.
Confidence in funding seems to be building.
Hopefully funding will come as PA confidently stated by the end of this month. Only 3 weeks to go.
If the Longonjo funding is proving difficult I wonder if they could sell Coola and use the money to build Longonjo.
After all there is 25 years mine life in the ground, and by that time someone will have found an alternative to rare earth magnets.
Often there are no Uncrossing Trades from the closing Auction to set the price. This was the case on Friday.
Why else would someone want to have the last trade with one or two shared sold?
It is noticeable how many days there is a race to ensure that the last trade of the day is a sell.
Very often only one or two shares sold at 16.29.
Presumably the usual FUD merchants have bought a few shares and post a late sell to keep the overnight price down.
How sad can you get!
Good to see the rally in the share price in the last week.
Grant Shapps Saudi deal statement last week reconfirmed the Government support for Pensana through the ATF.
Does anyone know if any money has yet been handed over?
I heard suggestions of a £4m grant last July but have not seen any confirmation.
Can we expect funding from Saudi rather than the bond market?
Is anyone on this board able to attend the AGM on Thursday morning?
It would be great to get some first hand feedback on the timing of the finance.
Well said SunDrum.
Any positive news on the finance will give the SP lift off.
Very confident update by PA on Crux Investors video out today. Well worth viewing.
$175M dollar Bond ready to go imminently. Little or no share dilution.
Post Tax annual income of $450M.
Estimated minimum share value when in production of £6.
Funders entirely happy with due diligence.
Bring it on!!
The Pensana Stock Forum on Facebook reports feedback from the General Meeting of the bond being delayed for a month, recommended by the Norwegians, due to market conditions, but this will provide 70% of the Saltend finance with the rest from banks/ off-take agreements. This will get Saltend off the ground with hopefully no dilution.
PA is apparently meeting car manufacturers next week and both GKN and Volvo showing interest.
The positive news on help for energy costs should calm the markets and probably reduce the inflation forecasts and trigger the bond announcement in the next couple of weeks.
A statement from PA can be expected in due course as soon as news breaks.
Lets hope all the above comes through.
Hi Hogsnipe,
Just for accuracy the meeting tomorrow is a General Meeting rather than the AGM which is usually held in December.
Not sure whether we will get much of a Company Update after the meeting, or just the results of the two voting matters.
The last GM held in February last year on the change of company name just gave us the voting results.
Lets hope we do get something on the financing. Obviously the positive share price today has raised some expectation of news tomorrow..
Great news on the cash injection from Angola SWF to get Longonjo started.
Looking at the MVIS Indices charting tool for Rare Earth Strategic Metals the rate has gone up 18% since the 12th July. Can only be good news and increased confidence for the future.
It looks like the lift off has already begun with the SP on the rise.
It is interesting that the event and any speeches are embargoed until after midnight, so nothing in the press until Friday.
Surely if a member of the Government attends the ceremony they are bound to have something to say about levelling up in the North East of England. At the very least the Government should firm up on a contribution from the ATF.
I also feel a bit more confident that there will be good news on the Bond to coincide with the Ground Breaking.
Maybe last chance to top up at these cheap share price levels.
Good to see the confidence return to the SP on the back of rising Rare Earth prices- onward and upward!
Should be the Ground Breaking Ceremony today at Longongo. I wonder who is attending?
No doubt all investors are very keen to hear any news on getting the bond in place for Saltend.
In the recent presentations from PA he advised that the timescale was within a month, which is now just about up.
He also said they are waiting for Green Accreditation in order to get the bond in place.
Does anyone know who grants this accreditation?
Despite the turbulence in the markets hopefully this will still happen and any good news will dramatically correct the drop in the share price.
Were the bond not to go through it would be interesting to hear peoples thoughts on the "what if " scenarios of Pensana's options going forward.
No doubt the usual gloom merchants will come back with their FUD comments, but there must be a plan B that Pensana would turn to.
Do they wait 6 months and try again for the bond?
Do they bring forward the equity release and fund Saltend this way.
Do they go back to the original plan to get the financing from the Chinese? Would the UK government allow this?
Would someone like Anglo American bid to take over Pensana as they did with Sirius?
Would an end user vehicle or turbine manufacturer be interested in providing the finance?
Would the UK government underwrite the bond to ensure this nationally important supply is ensured?
Any thoughts?
Thanks Mumbles for the information. Glad to see that the RNS has now appeared as well as an email from Pensana.
Onward and upward.