GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
Hi Mumbles2021. Apparently the UK Companies Registrar refuses to register a new company named S-L-A-G Ltd (and 87 other companies) because their names were considered "too rude" - have a look here:
https://www.theguardian.com/news/shortcuts/2019/mar/11/****-ltd-companies-house-businesses-uk-registrar-risque-names-expletive-rude
Makes for good reading - wonder if LSE would have run a chat room for Panda Knob Ink?
See:
https://todayuknews.com/automobile/nissan-and-waseda-university-in-japan-testing-jointly-developed-recycling-process-for-electrified-vehicle-motors-automotive-world/
Pensana will be encouraged by Nissan's simple melt-de**** process for EV engine Re recycling - faster, no need for diassembly/sorting/demagnetisation and much less complex than hydrogen decrepitation method. Puts Pensana and Hypromag (LCM spin-out 25% owned by Mkango)) back on the same starting line for future RE magnet recycling business development. Sounds like it should work just as well for wind turbine/nacelle magnet recycling too.
Nice summary of yesterday's update here:
https://www.business-live.co.uk/manufacturing/pensana-commits-humber-25-year-21448355
Also an impression of how the finished Saltend works could look. I note with interest that Pensana and Wood Group are formally tackling the government on availability of free-port and enterprise-zone financial benefits and incentives - so it's not just the ATF grant they're after.
On 15 March 2021 the Vice-Chair of the All-Party Parliamentary Group for Critical Renewables Minerals (CRM) outlined the Group’s priorities in terms of government policy including “the development of a critical mineral midstream” i.e. the production of RE metals and alloys and the manufacture of RE permanent magnets in the UK.
See this link for the full debate:
https://www.theyworkforyou.com/debates/?id=2021-03-15b.133.0
UK Govt comes very late to the table in realising that it is already in a cut-throat race for limited supplies of CRM and REEs, yet it has no Critical Minerals strategy. Other nations - notably Canada, Australia and France are already well-advanced, having laid down their strategies and are now implementing secure and sustainable supply chains for CRMs especially REEs and magnet manufacture and recycling. Couple UK tardiness with HMG's hugely ambitious wind power and EV programme in the next 9 years, and it really has zero time to lose to establish UK robust, vertically integrated, sustainable and secure REE extraction, refining and production/recycling of RE magnet materials and magnets as an immediate top priority in the next few quarters (not years).
It is therfore inconceivable that HMG is not giving Pensana serious consideration for a major role here - and I don't mean a meagre and dilatory ATF handout.
The penalty for failure to take action immediately, given rocketing demand from now on in every single one of the developed economies, means the open market is absolutely not a viable option to sourcing UK future supplies of CRMs and REEs in particular.
HMG needs Pensana if it wants to catch up fast - Pensana has positioned itself extremely well on almost all fronts to give HMG a credible fast-track out of its imminent CRM crunch. What we need to see is some action from HMG with significant capital investment support to get things moving ASAP.
No volume and few trades today - only the traders are out to play. Usual pattern - run of AT sells, followed by dip in the offer, followed by a run of AT buys - looks like someone still likes PRE.
Come on Pensana - tell us some good news about investment funding. A bank Holiday RNS would go down a treat!
Tedious to see the usual down-rampers are back - filters on - yawn......
What a feeble effort. Adds nothing new - yesterday's Pensana mailout covered it all.
To claim they are into the ground with a photo of a man in digger and a slice of random trench is deeply unconvincing.
I'd expect to see evidence of site survey, secured boundaries, top soil scrape, vegetation removal, site clearance, setting out pegs/lines, site levels & datums, building structure outline, trench pegs and lines, etc etc.
Shouldn't have bothered if this is the best they have to offer.
Before the accusations fly - I am delighted to see the SP holding up well against some sustained negative trading & I still looking forward to some real news soon from Pensana to pull it back above 100p.
PreNut - here's the link for the official Telegram.Org download of Telegram for Windows:
https://desktop.telegram.org/
I'd be careful where you get your download from as there are a couple of dodgy-looking (one Russian) sources before this in the Google search list I'd steer well clear of.
I installed this version on my Win Pro 64bit PC, but couldn't get into it - demanded I install the mobile app too. I tried the phone-number setup as well, but never received any text message from Telegram on my mobile, so I gave up and uninstalled it.
If you do succeed in getting it running stand-alone on a PC would you kindly post back?
Anyone throw some light on the 1/2 million shares traded in 4 deals in 10 sec today from 09:49:19 all at either 88p or 88.8p?
They were listed as unknown ? because the price was below the current bid/offer range.
However looking back at Friday's after hours trades there were two trades recorded as buys for the same 118k quantity recorded at the same prices (88.8p and 88.0p).
None of these big trades seemed to have any effect on the bid/offer/spread though.
But if they were delayed buys, the Buy to Sell ratio today becomes a stonking 5 to 1.
'Lewis Winthorpe' over on ADVFN chat suggests there are "Multiple sources suggesting news imminent apparently". So let's see if the open tomorrow has any uptick to back this up.
Hope Pensana is keeping a close watch on developments with Mkango's wholly-owned Maginito company. See:
https://www.globenewswire.com/news-release/2021/08/16/2280812/0/en/Mkango-Provides-Update-on-Placing.html
Extract:
Through its ownership of Maginito (www.maginito.com), Mkango is also developing green technology opportunities in the rare earths supply chain, encompassing neodymium (NdFeB) magnet recycling as well as innovative rare earth alloy, magnet, and separation technologies. Maginito holds a 25% interest in UK rare earth (NdFeB) magnet recycler, HyProMag (www.hypromag.com) with an option to increase its interest to 49%. - end extract.
HyProMag was founded by the owner of Less Common Materials in UK, and has received ATF feasibility grants for RE magnet recycling commercialisation based on hydrogen decrepitation.
We appear be losing out on another non-China RE resource. See:
https://www.news.com.au/technology/innovation/military/china-eyes-afghanistans-rare-earth-minerals-in-taliban-takeover/news-story/110db4037f33cdb1dafe254067a7daab
Atlantic Council analyst Ariel Cohen states “It should be no surprise when China becomes a primary financial backer to Taliban-controlled Afghanistan via royalties and taxes paid to accelerate mining projects.”
Taliban spokesman Suhail Shaheen said, “China is a friendly country, and we welcome it for reconstruction and developing Afghanistan … if (Beijing has) investments, of course we will ensure their safety.”
Makes for uncomfortable reading.
BwanaMakubwa - many thanks for your comments. You're right - I'm not on Telegram - though the Pensana group does look interesting and seems pretty active too. I tried installing Telegram for Windows PC a while ago and I couldn't get into it without having to have the mobile app installed as well. The android app is very aggressive in the level of access it wants to your phone+data and it's not for me. Has anyone succeeded setting up a PC-only installation?
I also notice the down-rampers appear to have been scrubbed from LSE Pensana chat in the last week or two - Dumbpunter is no more, also Charles_H has gone, so the chat is no longer abusive and monotonous.
Only tracked this one down via Twitter:
https://www.apcuk.co.uk/news/91-7-million-investment-as-uk-automotive-industry-accelerates-towards-net-zero-emissions/
It's somewhat different to the news in my previous post - APC say that the whole of the £41.2M has been secured for REEcorner, Nuneaton REE Ltd, and names the other three awards as:
BMW-UK-BEV, Oxford £26.2 million of joint industry and government funding has been committed to a project led by BMW Group to develop an electric battery in Oxford that will rival the range of internal combustion engines;
the BRUNEL project £14.6 million of joint industry and government funding will be guided into a project led by Cummins to develop a novel zero carbon, hydrogen-fuelled engine in Darlington, to help decarbonise heavy-duty commercial transport;
Project CELERITAS, Birmingham £9.7 million of joint industry and government funding will be committed into a project led by Sprint Power in Birmingham to create ultra-fast charging batteries for electric and fuel cell hybrid vehicles that can charge in as little as 12 minutes.
Over £91.7 million has been invested in 4 cutting-edge automotive projects, to accelerate the UK transition to net zero the APC annouced as the results of APC18 round.
I can't claim to understand the size discrepancies here (APC18 round was supposed to have a total fund available of £25M??), but since these projects are being jointly funded by industry and government, the investment sources are: companies themselves + other investors + UK Govt grant (ATF??), so the total of £91.7M is UK investment not totals awarded from either/both APC or ATF.
APC19 is the current round (another £25M on offer) and competitors will be notified on 14 Jan 2022 after closing on 6 Oct 21.
All the APC rounds are targeted at late stage R&D projects going into commecrial production.
I have to say that the relationship between the ATF Rounds (sponsored and organised by APC) and their investment grant rounds and these APC rounds confuses me, and obscures how much money is available in what fund, how it is being dispensed and what's left in investment funding for Pensana to compete for?
REE Automotive Ltd (UK,USA & Israel) gets an ATF/APC investment award of £12.5M to start commercialproduction of its modular, scalable,flat bed,"all-in-the-wheel", "universal" EV platform.
Another three awards totalling £28.7M to "other transformational projects" (not yet known who) selected amongst dozens of companies have also been made in related EV technology - total ATF payout £41.2M. Together, the 4 projects could save nearly 32m tons of carbon emissions.
See this link:
https://www.prnewswire.co.uk/news-releases/ree-automotive-awarded-ps12-5-million-gbp-funding-from-the-uk-government-803946234.html
Apart from the recent Nissan/Envision Sunderland battery gigafactory award, these are the first major investment awards to come out of the ATF/APC.
Interestingly, REE Automotive Ltd (UK incorporation 24 Nov 2020) were successful without going through any of the ATF feasibility rounds, and are a recent startup (the REE Engineering Center in the UK was opened in February this year). Some parallels with Pensana there.
So that means there are three more substantial award announcements in the immediate offing from the ATF/APC - I'd be amazed it at least one of these isn't another EV battery gigafactory award, leaving two. I'd say given the emphasis on carbon emissions reductions of these projects, there's only a slim chance Pensana will cop one However, it's a very encouraging signal for Pensana and LTHs that ATF/APC are at last going into a round of direct investment awards from today.
This from Companies House re: Pensana Ltd:
Accounts - Next accounts made up to 30 June 2021 are due by 31 December 2021
Confirmation statement - Next statement date 12 September 2021 due by 26 September 2021
Hopefully we'll see SP responding from 12 Sep?
US congress believes much bigger investment in EV is needed than the UK imagines- see links:
https://www.carscoops.com/2021/08/u-s-senate-passes-1-2-trillion-infrastructure-bill-with-billions-for-ev-infrastructure/
https://www.carscoops.com/2021/08/house-democrats-call-on-congress-to-back-85-billion-in-funding-for-ev-charging-infrastructure/
The USA has now agreed $15bn support for EV infrastructure, and is looking to increase this to $100bn in the short term. Scaling down to UK (1/5th population) this would be $20bn spending. And that's just for charging infrastructure.
The USA also wants to provide $100bn consumer incentives for the EV switch as well.
After passing the recent bill, the Senate voted to begin the debate on an even broader $3.5 trillion budget resolution that includes $198 billion for the Energy and Natural Resources Committee, largely related to clean energy development.
Makes the £500m ATF look somewhat piddling.....
It's really annoying that LSE website does not format a post as you enter it, in the same layout it will appear in the Share Chat listing. Allowed line length is longer when keying a post, then gets shortened in the Share Chat listing - so you can't refer to line numbers with any guarantee the item you want to reference is shown in the line number you entered it. Like this is line 3 when I entered it, but not when its posted.
Please fix.
This from MiningGMX today, reporting strong support for African mining including Pensana:
https://www.miningmx.com/top-story/47203-southern-africa-is-rising-thanks-to-growing-demand-for-green-metals/
--------------------------------------- extract -------------------------------------
An important participant in the push for global decarbonisation has been the scientific and engineering community. Increasingly, scientists are looking for metals that can replace the metals currently attracting huge premiums. It’s led to a ‘mining of the Periodic Table’, as it’s sometimes referred to, throwing the spotlight on previously ignored minerals such as neodymium and praseodymium – referred to as ‘NdPr’ – minerals used in the manufacture of large stationary batteries used in electric vehicles and wind farms.
“These are minerals that people are becoming familiar with, and can even pronounce,” says Tim George, CEO of Pensana, the first mining company to list in London in the wake of the Covid-19 pandemic last year. Pensana is building the Longonjo rare earths mine, about 300km from Lobito, Angola’s recently refurbished port.
“We really got our timing right given the drop off in the oil price and the fact that the Angola government wants to diversify its economy into other mining, agriculture, and tourism,” he says.
Apart from a recently improved regulatory regime, Angola also has extensive hydropower and an improved rail network. It’s perfect for Pensana which is able to supply rare earths to its UK processing facilities and European end-users. The rare earths market is 90% captured by China which mines and produces the so-called magnet metals like NdPr.
“We have a non-Chinese supply chain. This is important because people want provenance,” says George.
------------------------ end extract -------------------------------
... think they meant "magnets" not "batteries" in line 4. Easy mistake to make (not)....
Sorry about the double post (LSE needs to fix that!).
Here's a message I received today from Pensana. CITIC Securities is a leading China investment bank, so isn't exactly an unbiased source:
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CITIC Securities: Demand for new energy vehicles has begun to explode. The price of rare earths may open up a long bull run. We raise the price forecast of neodymium and praseodymium oxide to 800,000 yuan (US125,000)/tonne in 2021.
Pensana comment - CITIC has published price forecasts well above those used in the economic studies for Pensana's Freeport located rare earth processing hub at the Saltend Chemicals Park in Humber, UK.
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