Member Info for Mumbles2021

AS1971, I care, and quite a few others care. I don't care what you think. The relevance is to demonstrate that the posts that Theo et al. (including yourself) put up were part of a strategy to either depress the share price or shake the tree to bring more shares onto the market. It is (except for the recent credit unwind) such a tight stock that the smallest percentage tends to have a disproportionate effect on the SP. A fact that wasn't lost on you.

I note that you joined this page on 28th April, the same day the funding arrangements were announced, and that you have commented in the same vein from your first post in which you stated, ".......but for all the positivity around funding/investment, the share price has just about lost the entire gain after the recent announcement", at that stage it was 28% up. You followed with.

"Everyone please accept that this stock is cooked, gone, good bye. This holding on for a few months since April has just given a lot of you false hope. Any stock that falls by 90% does not recover. This will be no different".

"15.5% drop, not long now and it's all over people..."

"………….. that the share price is in freefall again and will be worth zero within a very short space of time. It cannot recover from this and all the positive spin in the world is not going to change that. The share price is never going to recover, like this company and its business plan."

"Pensana will be long gone in 12 months mate!"

Very close to the end now, under 18p. A matter of weeks.

Another 20% drop. It's over very soon unfortunately.

"Stand by for SP to be single figures within a few days..."

The point is to demonstrate to other readers of this platform the comments are part of a strategy to enrich the posters, not to inform new and existing shareholders.

To your question, "I CARE". However, I hope your strategy worked, and you have profited handsomely.

Major Tom, im sure it can be traced directly back to the interim results RNS released end of March.

I just got direct from the holder in PA's note that the position of the Brisbane holder and the time required to close out of 2 weeks that the size of the position was overstated and pessimistic. And that that particular position is now closed out. For your information.

Factfinder, PRE isn't an AIM stock. It is a fully-fledged listed company with attendant reporting and governance requirements.

Daytrader i am intimate with all the details stated in the letter and can vouch for every one of them, having experienced the whole journey. There are NO lies in it.

I can assure you it is a fact... i know this, but you are speculating

To day trader, i guess it doesn't suit your narrative

Eloro, if you post misleading and erroneous posts then they need correcting. Otherwise, other readers of this board may take them as the actual fact and come to conclusions that do not reflect the actual situation.

Also, your generalisations about the African population are disgraceful and misleading. And for clarification, we are talking about the generalisations, not disputing that the countries don't have some serious issues.

We agree that if the company fails, the blame can and should 100% be placed at the door of the PRE management. We are discussing the likelihood of that happening, that is all. No insults, no name-calling. The status of your PRE investment is very relevant. Or more to the point why do you consider facts that didn't matter to you then, to matter now? Especially when they don't relate to your opinion of the PRE management. So is your sole gripe the board handling of the project, which has some justification? Or is it also where LJ is located and the competence of the local populace you insultingly believe to be cerebrally challenged? These points have been a constant from day one. Before you say, "I didn't say that", please clarify exactly what you met by Angolans "not being the sharpest tools in the box" if you didn't mean that.

Your attitude is very revealing about character, and more importantly your knowledge about the project and the real and potential difficulties that companies experience working in this region. i feel very comfortable now that you have revealed that you don't understand or don't want to understand the region. Consequently, your opinion doesn't add any value to this board

Eloro, I used to work in Nigeria and have now gone back for a second helping, this time for myself. Consequently, i have first-hand experience with what I'm saying. Angola and Nigeria are both very similar in respect of the demographic. Not least is the huge divide between the haves and the have-nots and is 100% responsible for the prosperity ratings you quote. The personnel that PRE is dealing with are the well-educated elite. Not nice, but fact. The prosperity index you quote is irrelevant in this case. "Not the sharpest tools in the box" is a sweeping and unfair generalisation emphasising a non-existent point. Also using Elisabeth de Santos as an example of corruption should be used as the opposite. She should be used as an example of the reforms that the Laurenco regime has put in place to try to eradicate what was systemic corruption. Elisabeth de Santos had her Angolan assets seized by the Angolan supreme court in December last year and was convicted of embezzlement by a Dutch court last month, largely based on evidence provided by the Angolan authorities. Since you first started posting, and I assume you were a shareholder at that point, the endemic corruption that was in place is being tackled, with considerable credit being given to the Laurenco administration by governments and global financial institutions. I have to ask why you are now trying to look for facts to support a point that previously you didn't care about when the situation in Angola was far worse. https://www.africanews.com/2022/12/27/angolas-top-court-orders-seizure-of-isabel-dos-santoss-assets//https://www.africanews.com/2023/06/23/isabel-dos-santos-convicted-of-embezzlement-according-to-dutch-court/

Eloro, i have been having a look at your posts since you started following PRE. i have to concede originally you were fully in with the project and that as time has passed the delays, missed deadlines etc have lead you to form the opinion that change of leadership would probably be the best thing that can happen to them. ill admit that at times I've had the same conversations. But whatever my view, and my interactions that i have had with the board, lead me to the conclusion believe that this is going to happen sooner rather than later. especially now. However, your statements that the Angolans are not the sharpest tools in the box is grossly unfair and unnecessarily disparaging. They have ben dealing with the oil majors in contract negotiations for many years. the majority of them have been educated in London, Europe or the states, Engineers at Berkeley, Business degrees from Harvard and Economics from the LSE. they are as bright as anyone on this board. The new dispensation under Lourenco, are dedicated to the interests of their country. they know exactly what they are doing. i can also assure you they will have all their bases covered. All the hard work is done, for them this is now the quickest route to exploiting the resource for the benefit of the country. Don't get me wrong, I'm sure there have been some very forthright discussions between the Pensana management and the Angolan SWF, but they are pragmatist. unlike many on this board.

Theo, obviously designed to provoke a reaction rather to provide any kind of useful information to the board. you know the reason why. And its not the Chinese, its not FUD shorters. you've no need to shake the tree as there are plenty available for the moment, so i can only assume you are enjoying baiting china.

Equation needs to be asked, is Pensana one of the three they are referring to https://www.reuters.com/markets/commodities/goldman-says-west-needs-over-25-bln-investments-rare-earths-match-china-2023-07-06/

Regarding my question on ABSA DD uncertainty. this point is made because it isn't in the bag yet. However, despite the deal not going through the Sibanye Stillwater investment didnt fail the due diligence. It wasn't put in front of the investment committee until it had completed the DD, that it met the SSW criteria and was acceptable for investment (the reason it didnt go through, or to quote the investor, decision was deferred, was the prioritisation of funds for other more critical projects that came to the fore whilst DD was being carried out. consequently, the ABSA DD isn't expected to raise any issues, but it has to be done.

AS1971. Given you my opinion. What is yours please. Despite the title of your post, you obviously have one.

The facts are:

The actions in the last RNS are happening -

15 miilion in the bank and being used in Angola

10 million in the PLC account, covering the immediate liabilities and funding G and A costs

ABSA loan approved pending outcome of Due diligence. (The uncertainty)

A funding arrangement for Longonjo where the equity part of the 80/120 million is in place

The company is not falling over any time soon.

Regardless of past performance and I’ve been critical in the past, but always focussed on whether the outcome despite the missteps is likely or not likely. At the moment the project has never been closer or more likely to happen. Whether that is due to the Angolans taking over the show or not Pensana still own 85% of Ozango. If the Angolans wanted to play hardball they wouldn’t have fronted the 5 million along with M&G after the disaster of the interim (how in hell that got released in the way that it did still baffles me). Supporting the view that they have confidence in the local LJ team headed by Tim George and their ability to execute the project.

The above does not justify the current price action. I subscribe to the view that there has been a flood of shares onto the market from leveraged shares being closed out. Ie Shares purchased on credit with the hope of making a quick killing. The facilitators of these arrangements will never take risks, once the collateral shows signs of being underwater the position is closed out. This current debacle is the fallout from the share price collapse after the interim, and the consequent erosion of the collateral that was put in place and the inability of the holders to meet the margin calls.

The market will settle, because there are NO reasons as far as the company progress is concerned or any insolvency questions to justify the current position. So it must be another reason. In which care it will resolve itself SOONER rather than LATER

Lewis is it a prediction if you know and have control of where it is going........

If im honest Eloro, little bit too precise for my liking, if put my tin foil hat on, i could be forgiven that some serious, really serious manipulation was going on there.

But as i dont have a tin foil hat, im going to go with my previous opinions of today. But you can tell me, do i need to buy a new roll of bacofoil!!!!!!

SP, the beauty of the human race is that we have differing opinions. some we agree with, some we don't. it makes life interesting and in may cases motivates and helps in finding resolutions to problems and events that we experience on the way. if we were to take the first advice given without questioning it, where would we any of us be now. Generally, not in respect to PRE.

in this case, i don't believe this journey is over. I base this on my own research, not on the opinion of another whose own interest may or may not be vested in a different outcome to the one im expecting.

Eloro, I'm not going to make any pretence it is painful to watch. But is has to be stressed that they only crystalise in to a loss when sold.

I also need to stress that shareholders need to retain their independence to make their own decisions as to when to sell. it would appear that some, have delegated that decision making to others whose only interest is in covering their own positions with no regard to the potential of the shares being held.

There is nothing wrong with this, it is the risk that should be understood when these positions are taken.

SP for one i agree with you, it would be helpful if the board and Exco bought some shares. At this price they are crazy not to. They only need to disclose it.

if shareholders dont believe that Longonjo will be funded in the short term they need to consider their holding. otherwise hold. Im holding. As this current situation is nothing to do with Pensana as a company per se, and everything to do with brokers covering their position.

If anyone thinks that when the futures price of WTI went negative it had anything to do with market fundamentals they are wrong. it was entirely to do with traders taking long positions need to be covered at rollover. it was a temporary anomaly in which a lot of people lost money and a lot of savvy traders made a fortune. not dissimilar to the situation now

The Longonjo project finance is completely ring fenced to Ozango, which is a standalone legal entity. (of which Pensana is an 85% shareholder). The funding is all in the name of Ozango and is entirely dependant on the Due Diligence carried put on that legal entity, it has nothing to do with Pensana and is consequently totally independent of the Pensana Share price. The Angolans have confirmed backing and stumped a further $15 million to support that statement. The Angolan facility and the ABSA facility are contingent on each other, but the gearing is only 60% with the Angolans providing the balance 40%. to repeat, the SP has absolutely NO IMPACT on the ability of Longonjo to be financed.

Now to sit back and watch the comments.