Member Info for Major-Tom

Excellent to see such strong operational performance from Ferro-Alloy.

With all process upgrades now complete and in operation. And, with all the roasting equipment switching to natural liquid gas, rather than diesel, from Q3 2023. And, CEO Nick Bridgrns comments that "With the plant now operating in steady-state and additional concentrate supply contracts in place going into the second half of the year, we expect production to continue on this upward trajectory" I expect to see this increased production and reduced cost reflected in significantly increased FCF going forwards.

With the ongoing operations upgraded, stabilised and throwing off cash hopefully Ferro-Alloy can move forwards with a greater focus on develoemt of the Giant Balasausqandiq vanadium project.

Very good Crofton. I will make sure to keep you upto date. In my experience its best to be transparent with your investments / trades in these forums.

As it happens I am very happy with my last trade out and back in. Managed to increase my future upside exposure to East Star by around 35% without adding any further downside risk. Very happy indeed.

Hey, Lewis. Yes I hold MKA too. Sure MKA is just as good an investment as Pensana given everything that is happening with recycling, Magnito and CoTec.

Sorry to hear that you have sold out of PRE. I genuinely expect this to to hit 60p over the coming weeks. And, if the Longonjo funf8ng is concluded with ASBA I expect to see PRE to rise to ~100p again in the coming months.

Wishing you the be of luck with all your investments.

MT

Good solid updates from both Cotec and Mkango

Nice move today and this last week.

Valuation was hammered due to reduced revenue fron issues with delivery of reagents. Last update this had been overcome. Operations update expected soon. Hoping the positive price action hints towards a positive earning update

Surely the issue was as a result of forced selling following the results RNS debacle at the end of March which led to funding / liquidity concerns and sank the SP / valuation.

With the forced seller now seemingly done and the short term funding concerns removed is 60p not a realistic short term target?

Bought back my East Star position this week. Managed to reduce my average buy price quite a bit.

Verkhuba is what brought me to EST in the first place, nothing has changed with regards Verkhuba so I am back in for the upcoming fully funded drilling campaign.

A lot less unknowns with Verkuba that Talairyk. If they can turn the JORC target intonation JORC resources the second half of the year should be very interesting and very rewarding for EST holders

Takeaway the funding / going concern issues, raosed in March and since dispelled by the recent M&G and FSDEA funding and guarantee of future support, what downside risk is there in PRE? To me very, very little. I expect PRE to recover to the 60p level based on removal of the funding / going concern issues alone. That's a 3 bagger from todays valuation.

Add in the recent Longonjo funding update. Confirming FSDEA are providing $15m immediately as part of an overall $80m investment and ABSA Bank tasked with arranging a $120m project debt facility, which combined will see Longonjo in production by end of 2025. And, I see significant upside.I expect PRE to recover to around 100p, on completion of full Longonjo funding. That's a 5 bagger from todays valuation.

Any, eventual, progress on funding Saltend and I expect PRE to recover to around 180p. That's a 9 bagger from todays valuation.

If PRE manage to get Longonjo and Saltend into production, what valuation? I expect many multiples of todays valuation.

IMO the risk vs reward with PRE is unbelievable.

Agree RE. That's why I think PRE are such a great opportunity at this valuation.

Nice change in momentum today. Hoping for a sustained rise to 25, 30, 35, 45, 50, 60p

May sound ludicrous but that's where PRE were valued before the last results debacle so no reason it shouldn't rediscover that valuation now that the short / medium term funding concerns are out the way.

Here's hoping for all holders.

Nice move upwards again today. That's me around about break even now 😁

🤞 its onwards and upwards from here.

Sure I've seen that page before Occy.

To average down over the last few days. Took the opportunity myself. Fully loaded now. Unless there is another significant drop of course.

Great, comprehensive update from the company today. Everything progressing pretty much as expected. Key take aways for me were:

The FDP "agreed by all parties"

The development Licence "approved by all relevant Tanzanian authorities"

CH1 preps underway "APT recently received the first shipment of long lead items, including tubulars, required for the spudding of the CH-1 well."

The development will happen and the CH1 well will be drilled. Having held during many high impact drills, i cluding NT2 I am well aware the excitement leading up to drilling these type of high impact drills and the effect on SP if they come in on, or ahead of expectations.

The fact APT are starting to receive long lead items gives me hope the drill could be turning at CH1 a little sooner than most currently believe. In any event I've nkw got CH1, Longboats Velocette and Sounds TE4 drills all to look forward to over the next 12 months.😁Love a good drilling campaign

I certainly do Nic. I am pleased to report it looks like a land of promise, opportunity and prosperity.

Based on timeframes in the latest indian supply chain RNS I am expecting news on the commencement of production in India anytime from now upto end of September.

From RNS "the supply chain for Saietta's complete eDrive system is now ready to support its first set of commercial agreements which has been secured with one of the largest OEMs in the Indian light-duty mobility market, with production on track to commence in Q3 '23."

Unless I hear anything different that is my expected timeframe for Indian news / production

Peggy, for the JV to fall through now IMO there would need to be some issue with how Arc obtained and / or maintained their licences in Zambia. In that event there would be some very serious questions for Nick and the other board members. So, yes I am confident the JV deal and the Anglo led exploration programme will happen.

However, I am not so sure that we will see any drilling by the JV this year. This puts me off adding more to my Arcm holding at the moment. I will hold and see how things develop. If SP drifts lower I will average down. If the JV and drilling goes ahead this year I will add more at best price I can.

I am a big believer in the licences and expect some significant results when a proper exploration campaign kicks off. Therefor, I will maximise my exposure when that is in underway.

Nobody wants to see the SP drop under 2p Peggy. However, if it does I am sure there will be plenty of willing buyers at that price. The only thing that could make Arcm a bad mid to long term investment is Anglo pulling out of the JV deal. That ain't going to happen, so a lower SP simply means more upside to be had during the Anglo exploration campaign. Almost a win, win situation at the moment.

Great Post Mumbles. Perfectly sums up why I decided to invest in Pensana after the Longonjo funding amendments / clarifications.

The M&G / FSDEA removed the short term funding concerns I had and put Pensana back on my radar.

The new, realistic and achievable funding plans for Longonjo, which IMO mean it is now more than likely it will be developed to production, returned the massive upside potential.

No matter what has happened in the past with Pensana, as Longonjo progresses we should see a significant re-valuation.

As a late comer to the Pensana story any unexpected progress / positve news with regards Saltend would simply be a massive cherry on an already very appetizing cake.

Kylie, are you talking about the senior unsecured loan notes that will provide Sound up to £4.0 million in working capital?

The loan notes that provide Sound confirmed will provide "funds for the Company to continue to execute its Phase 1 development of the Tendrara Production Concession and bridge group working capital liquidity ahead of receipt of a receivable as disclosed in the year end results and / or receipt of Phase 1 back costs from Calvalley if a partial divestment is ultimately completed."

And, mean that Sound "is now funded for its near-term working capital requirements until year end 2023"

Are those the lending tranches you refer to in your recent post?