Member Info for Metalhead25

In my opinion the rapid move up since we got some headlines just goes to show again that the biggest (only?) problem with Tharisa from a shareholder perspective is that it seems to have a very low profile among UK investors. Nobody could look hard at this company and not love it. The problem is, a lot of the time, nobody has been looking at all. Fingers crossed that is changing

I noticed a similar pair of trades at Pensana and posted about it. Someone else explained that it was likely a “crossing trade”, meaning a quick buy and then sell. If this is right, one of the trades is actually a sell. I don’t know whether this is the correct description of what happened, either here or at Pensana. But I have to admit it seems unlikely that so many shares could be bought (if both trades were buys) without massively moving the SP

I don’t know about that website but the obvious impediments to short term DSO production are the current lack of an active mining permit and the fact that there is currently no obvious way of funding a mining and shipping operation. I’m not convinced there has been enough specific planning done either, but I could be wrong about that. Need mining permit and some finance arrangement IMO

Just noticed someone bought £200k of shares late yesterday afternoon. Looking good for a move up soon. I’ve taken the plunge here over the past few days. I think Pensana is extremely well placed, particularly with the West’s relations with China fractious and China struggling internally as well, and demand for rare earths set to soar. Projects like this one *have to* succeed. And it will

Nice to have that sorted

Just catching up. Dicko, was it intentional that you categorised Burwell as “FFS” rather than “FGS” and also misspelled Dempster as “Dumpster”. Lovely gags, if so :-)

My views on projects and forthcoming news:
- don’t know what to make of Burwell but if it’s happening I could see the lease news being soon
- my gut says it’s too soon for financial close on the peakers but could be pleasantly surprised
- I expect the RMI approval of the Wowo deal will come through but in relation to both Nickel projects what we really need is the licence approvals and some realistic way of getting the metal out of the ground (ie JV or similar)

I didn’t buy on it either (already had enough), although I now wish I had. 105 to buy when I considered it…

I can’t see any particular basis for takeover talk. But I did notice that in his interview Phoevos said something about next week’s production figures cementing our growth trajectory (can’t recall exact words). So I would expect they’re going to be pretty good. Maybe some other people noticed that passing remark also. Also, after a “higher low” a few days ago Rhodium is going back up. All looking rosy. And this was a belting company before all those developments!

The first hole has a nice setup expectation-wise. It isn’t aimed at making any sort of discovery, just at gathering information. So logically any surprise should be to the upside. But it must be most likely that it will be useful but uneventful from a news perspective

“ The project has been assessed by an independent third party who has concluded that it contains a JORC compliant Indicated Mineral Resource of 3.11 million tons at a zero cut off grade of 61.2% valuable Heavy Minerals”. That would seem to be how!

I think there are a number of reasons why they might suspect PGMs (XRF, surrounding geography/geology, presence of chromite etc) but from what I gather it’s unlikely that they’ve identified them visually. I could be wrong though - not a geologist!

Here we are - Horizonte (HZM; Mcap £135m) has raised $346m of debt for a Nickel project in Brazil. Interest rates:

“The interest rate of the Senior Debt Facility will be at a rate of LIBOR plus 1.80% for Tranche A, and LIBOR plus 4.25 to 4.75% for Tranche B”

HZM seems a reasonable comparable for Pensana, or at least the Longonjo aspect of Pensana (if anything I’d expect credit for Saltend to be cheaper?)

Nice confirmation from Tharisa on Twitter that there is no problem with Vulcan (not that it had even occurred to me that there might be, but posting this because you never know what worries others might have): https://twitter.com/tharisa_sa/status/1444962390538326023?s=21

Nice buying opportunity this morning. 5% down for no reason, just a few small sells and some MMs who have been quick to move. If we reach 5.6 to buy I’m having some more - exactly the same company that was 6.1 a couple of trading days ago :-)

There’s no point comparing equity returns to debt returns and concluding that the mere existence of high yielding large caps means that smaller companies have to pay through the nose for debt. That reasoning is a load of nonsense. A much better approach would be to look at what companies of similar size and in the same sector as Pensana have to pay to borrow. I do think Pensana is in a significantly better position that the average member of that group, though, in that the project is of national importance

Re downhole EM, Ben mentioned in one of his recent interviews that they were looking to get a downhole device with a long cable because the one available to them currently doesn’t go as deep as hole 2. So they may still be working on that

Yeah some nonsense going on atm- lots of minuscule buys around noon, no idea what that indicates! Those things are a mystery to me.

End of the day, the share price is gonna drift around until we get either some positive news on Burwell or the gas peakers or we get a placing. If the former, should move up. If the latter, probably down for a bit, churn for a bit, then should eventually go back up if progress being made

I don’t think BCB is a ramper! For one thing, he/she is right about Kavango. But also, rampers typically hammer anyone who expresses any sort of balanced view; never seen that from BCB. To me, he/she just seems like a happy positive investor!

I bought back into Polymetal yesterday (I have held in the past but not during the past few months). I think the risks are significantly tilted to the upside at this price

Although I’m not thrilled with this delay, I don’t think it matters in the grand scheme of things. We’ve got a company which is close to completing a big turnaround and being extremely profitable. We’re sitting on stunning resources (looking even better after recent exploration results) which if an explorer announced them would produce a market cap higher than ours - yet we are not just sitting on metal in the ground but have a working mine! I’m sure the turnaround will be successfully completed - with these fundamentals it has to be. So, I don’t know if we’ll get further price weakness today but, if we do, I see it as an amazing opportunity to add