Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
AS1971, you speak absolutely the truth. At this stage it is totally binary.
Good luck with finding anyone to sue. its been up on here once, and twice on RBW board, and you have JUST read it. give me a break.
Lessee, please replace Will with I, you sure as hell aren't doing it on my behalf
Post all reading Theorists post, Saltend hasnt been abandoned. its still very much a major part of the project. M&G have categorically emphasised that they are supporting the project because of the emphasis on the UK part of the project. it has been stated that the portfolio that PRE forms part of, requires UK ownership and operations
DP/SP,, please read the annual report. PRE board take their renumeration and Shareholder perception of same seriously. the following is from the latest report
"No bonuses were paid for FY2022 and the related bonus charges were reversed in FY2023. No bonuses were provided or paid in FY2023."
Not only were no bonus' paid in the last Financial period, bonus from the previous was clawed back.
Lessee, i see little point in this, just block him with your filter if he annoys you that much. Most of the RBW forum members think he is a d*ck anyway, but if you persuade others from the PRE platform to perfrom the same on the RBW board, its more likely that a tit for tat will happen incuding other members of the RBW. Nobody on this board takes him seriously, occaisionally a rebuttal is required. but that is all....... At the end of the day, if the forecasts are correct, then 3-4 PRE/RBW sized plants will required to be commissioned every year from 2030 onwards, many will be in China, but the rest of the world has finally woken up to the fact that this particular supply chain needs to have mutiple sources, rarther the monopolised one at the moment, (essentially controlled by two government owned chines companies). Not all projects will come to fruition, ALL need to be encouraged.
DP/SP, the point about salaries has some validity, the very large pay increase being awarded just before Simon Sharpe came on to head the renumeration committee. However, they have not been fast and loose at interpreting the KPIs on the incentive payments and didnt receive any bonus (as they shouldn't). however to say they have been sat on their backsides doing nothing is extrmely disingenuous. they have completey re-engineered the Longonjo plant to from a conventional to a modular prefabricated construction, without changing the process. i might add the the Pilot plat was taken as a given and not part of the incentive payments. The board was well aware of shaeholder sentinet in respect of incentve payments after the EGM earlier this year. in addition, it was stated to the baord that the work that had been performed for the LJ Due diligence seem to have been considerably down played. instead stressing that Due diligence needed to be completed. i suggested to the board that this down playing may have been detrimental to shareholders perception of the management value for money. this point was conceded.
An informed opinion is what the BBs are for Lewis, and appreciated, certainly by me.
DP/SP i have to a gree with Lessee that your interest in PRE is somewhat puzzling. Not just on this boar, but taking every opportunity to dump on Pensana with highly spurious comments anywhere you can, namely ADVFN and the HIVE. The reaction to RBW on this board is a natural human reaction to your consistent attacks, ie defense. Personally, i have no issues with RBW. I think the small cap Rare earth prospect collectively have some concerns. Largely brought about by the chinese manipulation, but individually they all have pro’s and con’s and frustrations for PI’s. But they are each navigating their own ways and being as transparent as possible about it. Ill admit i find your constant sniping on this board annoying, and closing Down of conversations on the Hive down right malicious. So what is your problem, because it isnt rational, without sone sort of explanation. I also accept your right to comment as you see fit, but other users of this platform already recognise that your comments are not Bourne out of any sense of altruism to PRE shareholders , and don't seem to be based on attempts at share price manipulation. So as i say, i am puzzled, in regard to your tactics on the Hive, I am f*cking annoyed.
The 3 shareholders are not being asked to do anything. As long as they are working together controlling over 50% of the holding they are doing the asking. With the exception of accepting a takeover offer or authorising more shares requiring the agreement of 75% of all the shareholders and an EGM. Without an EGM any dilution will be limited to the already authorised shares. However, this does not preclude the sale or partial sale of limited liability entities held by the HZM holding company. That not needs to be approved by the board and shareholders of asset company.
Until such time as an EGM is announced, then any financial and or shareholding restructuring is limited to the Asset Companies.
I might add, i aint selling with this news
Pickledpeck, to certaion extent i agree, points to consider is that the loan has a maturity of 102 months from 7th December, which is 8.5 years. also infers that this part of the deal was signed 3 weeks ago. it also infers that that they ARE GOING TO FINISH IT, if the loan doesnt come due until part way through 2031. however the intrest payable on it assuming a rateable amortization from 18 months from now would rbe in the region of 13.5 million, ie a cash flow hit of just over 5 million per annum, even though 15%, its not an unreasonalbe hit on the cash flow. the intrest refelcts the risk that the finance guys are putting on the loan compard otherpotential projects they have on their books.
the banks havent foregone intrest they have deferred payment of intrest, intrest will be incurred on the intrest payment due, plus the outstanding loan. this stil helps and adds to availabl cashflow ending the funding package being in place
The fundamental is that none of the cormerstone investors would have put a cent in, or the bank declared a delay interest payments unless there was a much greater than even chance of sorting the finance out before the end of February (which is presumably when the next interest payment is du)e , and also having more than an inkling on a road map as to how they were going to do it. This bodes well for the prospect of the mine being completed. However, it gives no indication of what the shareholding structure will be when they have sorted it out, and consequently how other Investors will fare compared to the 3 major shareholders.
And this morning 5% up. Yesterday was obviously someone close if out a position. Doesn't take much to move this SP one way or the other.
There are modifications to the plant at both Saltend and Longonjo. I know that doesn't answer your question definitively. but reasonable assumptions can be made from that.
THEO, WELCOME BACK WE MISSED YOU. THANK YOU FOR REPOSTING, BECAUSE THAT IS STILL VALID
My apologies DP, it has moved, it is down 2.5%
Todays post on RBW and Techmet, "TechMet, which is backed by the DFC, will take out an option to acquire a direct equity stake in Phalaborwa, where Rainbow is processing gypsum from dumps to produce some of the most important rare earth metals.", This is an Option!!!!!, and you are saying it is comfired funding, yet the SP hasn't moved..... get your own facts right before casting aspersions on others
It would help if you were very careful what you say. i was there and have a transcript of the proceedings. I have no problem using my real name as I do elsewhere. i authorised it from my own notes.
SP/DP, the only fact here is that your comments are irrelevant. i pass on information that is believed to be, and is correct at the time it is disseminated. What readers do with that information and how they use it to inform the decisions they make is entirely up to them. i have had to put up with you taking every opportunity to snipe at opinions on Pensana that are made on just about every platform you can find. even poisoning the Hive, which, until you started spouting, I saw as an interesting and well-curated platform. I could do an in-depth critique of the US investment in RBW that you pertain to and the potential dilution that it could entail which explains the lack of movement on the SP. but I don't, because I have no shareholding and consequently no interest. Although, unlike you, I wish all the shareholders well with their investment, As the growth potential for NdPr is expected to be 20KT a year by 2030, the green transition will need all the Ndpr they can get.
SP/DP I don't care whether you believe me or not, I was physically there