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Always good to get validation from academic organisations and think-tanks. This strategy document gives a thorough overview of current supply chain issues and how the UK will address them. It appears that Pensana are shooting into an open goal. https://www.birmingham.ac.uk/documents/college-eps/energy/policy/policy-comission-securing-technology-critical-metals-for-britain.pdf

http://tiny.cc/6li1tz Pensana telegram group

Great post Haddock, lots of waiting involved in this game, very true.

Watching it now, after my kids recommend it and saw it mentioned on here. Apparently some of the figures are a open to debate but even so it’s a shocking eye opener. Well done to Netflix for commissioning this important film.

They always turn up bang on cue! Treat it as a compliment.

It's always bittersweet when one of your investments does this, on one hand it's all beautiful profit but there's that little voice inside saying 'should have bought more'!

Parkdog, this has been a top performer for me, not long ago this was fixed at 6-7p for months. I’m noticing that my best investments are in ‘singular companies’. With no one else offering an opportunity to participate in this sector ANIC is like a sponge soaking up investors’ cash. Unique seems to equal rewarding on AIM, while finding winners in over-represented sectors is much more challenging.

NAV for unlisted companies at the cutting edge of an entirely new sector with potential to disrupt on a truely global scale is never going to be an exact science.

Completely agree Pracrorrim, a unique opportunity which has only been understood by relatively few UK PIs. I think most who got in early would have to acknowledge an element of luck as the original prospectus didn’t include UK processing which is now going to be the most lucrative part of the project.

Exactly, and if we’ve worked it out I’m sure the clever city boys and girls have too!

Looks good and we’ve compared our calculations before with mine close but slightly lower. I’m a bit more cautious on NdPr prices and Saltend production start, my estimate is mid-2023 to allow for construction and commissioning, Longonjo similar timeframe. I still put us at £10 sometime within 2 years. I also think Paul is thinking several moves ahead and he’ll have the following few years roughly planned already.

Wilson, congratulations for getting in at 21p. For your calculations you need to factor in number of shares in issue. Mcap divided by number of shares = share price. Pensana currently has just over 200m shares so roughly £5 SP = £1bn mcap (just 1/3 of Lynas).

Certain people on here talking about discount placing ‘inevitable’ yet the market takes us to an ATH. FFS.

Anyway welcome TCCAT. It was me who said a while back that this sector at this moment is like the microchip industry in 1970s, partly because I was reading ‘Infinite Loop’ at the time (excellent book BTW). IMO your investment will flourish, just give it enough time and ignore the nonsense.

Exactly, they are just guessing. I can’t see any credible argument for a heavily discounted raise. The idea has been cooked up in here and then it gets repeated, it has no factual basis.

If that happens I’ll buy the dip, I win either way.

Last fundraise:
https://www.lse.co.uk/rns/ANIC/equity-fundraise-of-163100-million-xlagt0uossrey8g.html

‘166,666,667 new Ordinary Shares at a price of 6.0 pence per new Ordinary Share (the "Issue Price"), representing a nil discount to the closing mid-market price of the Ordinary Shares on 21 October 2020’

Next one might be at a discount but I’d expect it to be well under 10%

I read his post and maybe I’m missing something but it looks remarkably like a guess.

Check the RNSs, last raise was at nil discount, why would you expect this at 10p?