History does not excuse their criminal act. If they ever get identified I for one will be pushing for Legal action to be taken. Manipulation is an offense and in this case it did do a huge amount of damage to the Companies ability to raise finance.
That CR at 120 GBP should have been at 200GBP ! Hamilton and Thomas called the Dump before it started they are as guilty as hell.
Hi Hogsnipe, I suspect that your underlying logic is sound but what I think you are missing is the shear size of the Longonjo/Coola Resource when compared to just about every other Rare Earth hopeful, that plus Saltend will put us on a Par with Lynas and Mountain Pass; where as RBW & MKA are nowhere near as advanced.
We also have a lot of recovering to do after the Dump/Short sell raiders have milked the MC, As I keep on pointing out the Fundamentals of PRE are sound, even at a 95% discount LJ is still worth at least US$6Billion.
Eloro, You certainly have high expectations of Pensana's Directors, How many other REE Companies can you name that have taken a grassroots exploration Project thru to Finance/Start of Construction in under three years ? Peak, Rainbow, and most of the other hopefuls have been at it for ten !
Not that I have a problem selling out to a Fortress or BP, but I for one will not be bailing out on the cheap, Especially when you consider that whoever is doing the bidding is the same person as the Shorter/Dumper who has spent the last six months bringing our SP down to their cheapskate level ! £20 minimum for me.
Charles/CCC/shead/Thomas; How many times are you morons going to continue to quote Chinese Prices for a Company that will be selling its product into the Western World. Chinese RE prices are heavily regulated and the VAT does not come off unless it is exported in the form of a Manufactured product ~ Oxides and Metal do not qualify. On top of that they do not contain any component for ESG compliance/cost; nor are they ESG compliant so they will not be marketable in the ROW.
Pensana will be selling refined Oxide, then metal into the US/UK/EU market, The current NY price is US$120-140/t for NdPrOxide.
I am not at all concerned with "Off-take" agreements, the product is about to enter "Short supply" I think you will find that once the LME opens up their RE contracts next year, there will be a significant Spot market for Magnet makers to source their products thru. In the mean time, Deals are being done for supply in 12-18mo time, but not announced for fear of loosing current supplies out of China.
Charles, Why are you trying to compare PRE with ARU ? they are nothing alike and won't even be competing in the same space ! I believe ARU will be selling MREC while PRE will be selling Oxide or Metal And why are you Quoting $87/t when the current NdPrO price is now way over that (even in China) PRE will be selling into the UK/EU market where the current price US$140+ Might I suggest that you don't take any notice of the garbage those sidewalk superintendents 'shead/Thomas/etc spew out, wait just a few more weeks and everything will be revealed by the Experts,
Thanks Dumbo, I suspected that was what was meant. IMO they are badly named as the term "Super" really only applies to the conductor, the Magnetic field is induced not permanent which makes it difficult to maintain mechanically. Great for short term and static applications but hard to install on a wind-turbine or in a car.
Dumbo, Congratulations the Lithium appears to be working, Your first post in months that has some semblance of truth ! Not sure about "Superconducting magnets" but I get your drift, The key to curing the problem you identify is to remedy the "Supply". Longonjo and Saltend has the capability to do that given an honest run.
Great point Bwana, The auto industry might be able to survive with 2nd best technology, But those wind Turbines are a totally different story, RE magnets are a game changer for them, allowing direct drive and no electro/mechanical contacts, Maintenance is reduced at least 80% and working life increases by 30-40%.
RE: Liberum backs Pensana via COP2612 Oct 2021 23:25
While not closing the door an a JV, it would have to be quite significantly weighted in Pensana's favour, With Longonjo already containing close to One million tons of NdPr, the discounted asset value is still mind boggling ! (which is why the Asset strippers are now circling). To sell off even a 10% share for a measly US$100M would be crazy !
That said there may be an opening for a third party (MP/Fortress ?) to get involved, by offering them a percentage of production as either a Forward Sale or Loan guarantee; Gold mines have been doing this for decades. Another method might be to offer a slice of future production as a Hedging tool to the big Gold miners; ie Barrick/Newmont lends PRE 100,000oz of Gold today and we will pay them back with 3,000 tons of NdPr over years 3,4,5
RE: Liberum backs Pensana via COP2612 Oct 2021 10:56
Of course there are far better mines (Nothing beats Tomtor), but there again there are no other mines that are going to be producing before Longonjo, and there are non that will have their own Refinery in the EU/UK.
Sundrum, I seriously doubt if his Company is behind this, If you look at his Resume he is a small fish and still wet behind the ears. My bet is that he expected to get Pensana's business and got custard in his face when he failed. Unfortunately I deal with ALS or I would be cancelling my account until they sent him packing.