Member Info for Hogsnipe

Yes - seems to be lifting the SP - up 6% since the open. Buys well ahead of sells. Hope it's sustained now.

Investment Bank Liberum sees significant upside in Pensana as one of only three UK Companies to meet the climate leaders gold standard. Pensana has been picked by Liberum as one of the five stocks, and the only small cap, that it considers climate leaders in the UK and Europe ahead of COP26. COP26 is approaching, and with it, a focus on different countries' ambitions to decarbonise their economies' Liberum writes in the note titled Strategy, Accounting, and Sustainability: Our COP26 top stock picks.

The note states that when breaking down net-zero targets into industry-specific guidelines, the gold standard is the Science-Based Targets initiative. Pensana is one of only three UK companies the bank selected as meeting the criteria for overall climate leaders in Europe. 'The Pensana site will be the world's first processing hub for rare earth metals and the first one located in a Freeport' Liberum writes of the Saltend project in Humber.

'What makes Pensana particularly interesting as an investment is not only its strategic position in the decarbonisation value chain and its location as Europe's preferred supplier, but the cheap market valuation so far' it states, compared with Lynas and MP Materials. 'As a long-term investment, we see significant upside for the stock going forward.'

To read Liberum's note in full:
https://pensana.co.uk/wp-content/uploads/2021/10/Liberum-07.10.2021.PRE_ESG.pdf

Mumbles/Sundrum - as far as I can find out AHK is a largish (3000 employess worldwide) Knight-family-run tech services and consultancy outfit serving the metals and mining sector. Mainly offers testing, analysis and lab-related work. Has no company officers common to LCM, LCMG, Hypromag Ltd. So as far as I can tell not much involved in RE supply chain development. Companies House have no less than 13 limited companies registered to AHK, and it has been around since the 19C.
As for the Liverpool group bias - now there's s a group of individuals with fingers in many pies. A lot of the links arise from academics and researchers at Birmingham U and various spin-outs. There's LCM Ltd based at Ellesmere Port (31 officers in the last 5 years - 25 resignations), LCMG Group seems to be another holding company owned by LCM, Hypromag (RE Magnet Recycling based near Chester) has board members including Prof Allan Walton of Birmingham U, and has been granted funds from Innovate UK's RaRE project to investigate end-to-end RE magnet production and recycling in UK, including researching the requirements for a UK hydrogen decrepitation magnet recycling factory. Mkango have also invested funds in Hypromag in support of this.

Allan Walton and Professor Emeritus Rex Harris of the University’s Magnetic Materials Group , lead the only research group in the UK focussed on processing and recycling of permanent rare earth magnetic materials. Both are on the board of Hypromag.

UKRI has also awarded the University of Birmingham £4.3m to establish the RE magnet recycling plant, which will be located at Tyseley Energy Park (in Birmingham).

You can't beat high-ranking academics when it comes down to networking and contact management aimed at securing grants and funding - they've been immersed in research councils, govt quangos, grant-awarding sources , etc for decades. It's all a bit piecemeal though, and mainly targeted at EVs, whereas Pensana is much more integrated in it's approach - from a hole in the ground in Africa all the way through to recycling wind turbine binnacles, and it's far better located behind the Red Wall to receive investment and grants.

Anybody any idea why every morning this week there's been a flurry of tiny O buys - 15 or so all within 1 minute for between 2 and 40 shares?
Also there's an O trader dumping substantial sells (39K so far today) who's sell price is always to 3 decimal places. I know Hargreaves Lansdown broker service prices like this for ordinary punter (I nearly said dumb punter there - wash my mouth...) trades - any other nominees who do this?

Tony - re:falling wedge. I use MarketScreener for a couple of my holdings - PRE being one, and it's difficult to see anything but an accelerating fall on the dynamic interactive chart here:
https://www.marketscreener.com/quote/stock/PENSANA-PLC-109347695/charts/#
Wind back the chart range setting from 200U back to 25U to cover the last 4 weeks and you'll see what I mean -what do you think?

DP - short term memory problems? Suggest you actually read the replies to your previous posts re: this tired old LCM claim.

See link for full story:
https://www.bnnbloomberg.ca/china-to-form-two-rare-earth-giants-to-strengthen-pricing-power-1.1656786?fr=operanews

The government is aiming to eventually consolidate all its rare earth miners and processors into the two huge firms, one in the north and one in the south, the people said, asking not to be identified discussing a private matter.

The one in southern China will oversee medium-to-heavy rare earths, and the other in the north will control all light rare earths, the people said. It’s unclear when the merger will be completed.

Beijing has been restructuring the industry for years into six large state-controlled groups. By consolidating, it hopes to maintain its dominance in the production of the strategic metals, of which it controls 70%, as the U.S. and Europe look to develop their own production and supply chains and diversify away from China.

Several state-owned miners, including Aluminum Corp. of China, will restructure their assets, China Minmetals Corp.’s rare earth unit said in a filing to the Shenzhen Stock Exchange on Thursday evening. That’s the first step toward the consolidation into two giant entities, the people said.

Very slow trading today on tiny volume. Currently it's 4:1 sells:buys, Vast majority of sells are AT but they're failing to move the SP down - it's up on the start of day, despite the selling.
Daytraders: give up and find another playground - the MM's now seem to have a different view on where the SP should be headed to yours.

Tiny volume again, very slow trading - but it's 4:1 sells:buys. Vast majority of sells are AT, but the bid/offer is still up on the open, suggesting the SP is under positive pressure..
Day traders need to give up and look for other birds to pluck - at long last the MM's seem to have turned...

Tony: The conspiracy theorists must be gradually getting the message that Pensana is no early Christmas pantomime.
Very quiet trading today - less than one buy every half-hour. Looks like the sellers are aiming to get in cheap before the end of play maybe. Tiny volume suggests the rampers may have at last found better targets elsewhere - fingers crossed.

New RNS in last hour:
Pensana's Chairman, Paul Atherley, said:

"We are delighted to welcome Steve Sharpe to the Board who brings a wealth of experience in financing and developing resource projects around the world at a time when we are looking to finance Saltend and Longonjo. Steve has been involved with the financing of some US$6 billion over his 37 year career.

William Izod and Danny McNeice also bring with them significant experience and further strengthen the growing management team at an exciting and important time for Pensana.

We are very grateful to Sandra Bates for her contribution in establishing the highest standards of Corporate Governance within the Company over the past year and wish her well in her future endeavours. These standards are important as we embark on the financing and will stand Pensana in good stead for years to come."

If Hammy thinks PA is leading us all a merry dance down the tubes - this is one hell of a build-up....

Futher to the correlation of PRE SP with FTSE 350 Mining Index, PRE was up 2.6p today - so was the index, up from 19,572 to 19,653
Interesting - I'll keep an eye on this relationship and see how it performs over the next month.
Anyone any thoughts why the PRE volume/number of trades today was up over 40% on yesterday's?

We've seen the PRE SP tanking steadily since Sep 10, despite Nd and Pr oxides holding their current high and the usual absence of Pensana news, good or bad. One theory is that some iffy trading is going on to manipulate the price, but I wondered if PRE market makers might actually be driven by price movements in the mining sector at large, simply because the MM's have no easy way of working out a daily PRE price based on its fundamentals.

Here's what I found. I looked at the FTSE 350 Mining Index over the period Aug 23 to date, which has also been dropping like a stone. I calculated the correlation of the PRE SP with this index values over the same period.
It turns out they are highly correlated at 92%, so there is very strong support for the case that the MM's are simply tracking the FTSE 350 Mining Index to price PRE on a daily basis.
Given the index is made up of 10 miners, and 8 of these are in negative SP change YTD - the worst being Fresnillo and Hochschild Mining at -32.4% and -30.1% respectively - both gold/silver plays, I don't think there's much sense in the MM's doing this with PRE.
As far as I can find out, there's not much prospect of the FTSE 350 Mining Index recovering in the next few months due to Covid resurgence and transport/shipping issues and what's going on in China now.
Which takes us back to staying invested in PRE until it succeeds in the current investment raising round - at which point the MM's will immediately calculate a concrete valuation for PRE and the SP will reset dramatically.
I expect that when this happens, the news will be 'leaky' ahead of the announcement, and we'll see a huge buy volume on the day before the RNS is released.

Dumbpunter: You knocked Britishvolt here a while ago saying:

"British volt were setup by Management consultants and a watch salesman. Zero relevant experiance or serious funding. I suppose they have employed a Chemist, but they are chancers.
Britishvolt are a marketing consultancy and sales people. No money or product or manufacturing skills. "

So now Britishvolt has secured $70M backing via a Barclays fundraising, backed by Glencore, EU Carbon Transition and NG Bailey Engineering - which now values Britishvolt at $1bn - would you care to eat those words?

Oddly enough Britishvolt only secured their Northern factory site this year, and had a little ground-breaking ceremony in July, saying "Britishvolt is one of the few offerings built from the ground up with sustainability at its core".

That last sentence rings equally true if you substitute 'Britishvolt' by 'Pensana'.

Glencore welcomed the investment by saying "the scheme significantly de-risks operations by obtaining long-term security of supply". Pensana is founding its bid on exactly the same premise.

Same old same old trading today.
A raft of 14 sells totalling +100K in the first 11 mins of trading knocks the bid from 74p down to 71p
Immediately followed in the next 20 mins by 26 AT buy trades totalling +90K which pushes the bid back up to 72p.
Suprise surprise - another raft of AT sells totalling +15000 in the next 30 mins brings the bid down to 70.8p by 09:30am.
It's a little clockwork money-making machine in action.
Volume is small - so perhaps the diminishing free float is going to spoil their fun eventually and they'll pack up and bother some other company.

Apologies to Wiseacre on ADVFN for copying this, but some explanation of the accelerating fall in the last week might help LTHs carrying a high average:
----------------------------------------------------------------------------------
Short attack, Pello Capital, dumping of few remaking Aussie shareholders responsible for recent fall and it doesn’t take much to move the share price - just volume of 250,000 responsible for today’s 4p fall. Meanwhile proportion of shares held for the long term by 20 largest shareholders has risen to 85%. Sit tight and wait for the good times to roll.
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CaneToad: Just have a look at todays PRE trading so far - practically all the selling volume is AT trades - not commonly used by PI's (unless stop-losess - also not often used by PI's). There are a few PI sells (and buys) as O trades - often priced to 3 sig figs as is common practicewith nominee accounts - at Hargreaves Lansdown for example.

It's difficult not to come to the conclusion that shorting IS going on, when batches of consecutive AT sells knock the bid/offer down, followed by batches of buys, and this pattern goes on all day till close of play. It's been like this now for several weeks. And we know from Pensana's regularly updated register of their top 20 holdings that several nominee accounts in the top 6 are a front for some serious share accumulation over time.

You're right on one count though - until Pensana get some solid news out on capital investment, this share is a suckers' play if you're not in it for the long term (as are the majority of posters here).

Dumbpunter - how'd you like the nomination of Pensana for the PLC new company of the year award? Not bad eh? Guess PLC aren't following you here......

Tony: The possibilities for Pensana are much wider than just Longonjo. Follow this link:
https://www.sciencedirect.com/science/article/abs/pii/S1002072118300139
and you'll find this:
"Powder River Basin is the world’s largest low-sulfur subbituminous coal deposit containing ~1.07
trillion tons of in-place coal resources and produced 40% of coal in the U.S.[10] and thus
potentially contains 46 million metric tons of REEs, which can meet the REEs demands of
the U.S. for ~3000 years at the country’s 2016 REEs consumption rate. Extraction of REEs
from these unconventional resources could be the way to secure domestic supply of these
critical materials"
The UK is also littered with bituminous coal- fired power station fuel ash bonds and slurry lakes and the technology to extract >99% purity RE metals from this biohazard is now less than a year away.
Newer and simpler hot-melt methods of recycling wind turbine nacelles to recover high purity NdPr alloys are also just around the corner.
If Pensana can be flexible and tailor Saltend's capability to not only refine Longonjo's sulphate concentrate, but also handle these huge recycling opportunities, it has a very strong business case to put to UK government and pull in significant BEIS investment support in the short term.

Ignore that post - reported in Google search as news today, but it's an old 11 May RNS - why does Google do that?

DP: Re:"Funnily enough ATF prefer to spend less of tax payers money to get the desired results".
ATF is operated by Innovate UK who manage most of the industry and academic grant awards for research and development in the UK. Since 2003 they've handed out 45,254 grants worth on average £27.5K each. I challenge you to prove that this is a good way spending less tax payers money for desired results. Good luck with that....