Member Info for Mumbles2021

So Novice, by calculation taking into consideration FSDEA (25%), M&G (11%), PAs own shares (6%) and Cascade (30%) the total is a tad over 70%. To answer your question it is nowhere near 90%. I’m fairly sure the current strategy is to get in now and profit from the expected rise in valuation in of the MCAP, which will be far more profitable than any profits from going private…………

Novice is all on the website or in RNS, but by my own calculations the final numbers are below. Including the balance of the FSDEA $15 million loan conversion that i am sure will carried out as soon as CASCADE shares have been issued.

TOTAL CURRENT SHARES 339,522,689.00

FSDEA NOW 98,686,785.00 29.07% Now

FSDEA* LEFT 23,148,148.00

After new Share issuance

FSDEA TOTAL 121,834,933.00 24.02%

CASCADE 144,508,671.00 28.49%

CURRENT TOTAL (-FSDEA) 240,835,904.00 47.49%

FINAL SHARES IN ISSUE 507,179,508.00 100.00%

*Balance of FSDEA $15,000,000 loan to be converted

We don’t have the details yet, so this is conjecture — but I don’t think the $160m will be used to eliminate debt. As to the veracity of the funds, the vote is on the 9th of March, a month off. I assume the funds will be in the bank shortly after. So we’ll see whether it is smoke and mirrors or not. For information. And this has no supporting at all…… Bill Gates own investment vehicle is Cascade Investments LLC… not saying it is, just throwing it in for a bit of spice.

In response to China comment, i think it is very unlikely

EXIM is a guarantee instrument, so debt is part of the structure. At ~$65/kg NdPr, Phase 1 was already modelling around 150% debt service coverage. Current indicated pricing is roughly double that level, so free cash flow should comfortably service debt.

With Phase 1 cash flow potentially starting in early 2027 and full build-out by 2029, a 60/40 structure could support around ~$500m total capex over time, covering Phase 1, Phase 2, Dy/Tb recovery, drilling, and potentially a major — if not full — equity position in downstream separation to extract full oxide value.

At £7 on 480m shares, the market cap would be under £3.5bn (<$5bn) for 4,500t NdPr plus ~$50m per year from Dy/Tb. Relative to MP and Lynas, that sits at the lower end of potential outcomes. A no-debt structure appears very unlikely.

Drawn down doesn’t mean exhausted. It means the last tranche has been released from the financier (FSDEA) in to the beneficiaries account (Ozango). It does mt mean exhausted

Its a bureaucratically required statement that is part of much bigger story, and is expt a little more complex equity holding structure including the 30 million separation circuit and 11 million dollar drilling program that will be funded by the 100 million USD strategic investment,

Headpickled, i also am from the area and attended the ground breaking and launch of the UK Critical minerals strategy by Kwasi Kwarteng. Waste of time that it was. I strongly suggest that you put SmartPunter on filter. He has nothing of substance to say and hasn’t for years, and can’t see him having anything of value to say in the future. Good luck with you Investment sir and thank you for sharing you thoughts, very similar to mine when i first got involved in 2019 . 😄

But regardless the consolidation option is always open..........

Each to their own Tbow

You know it makes sense Keith 😀

There is alot in the pipeline that would warrant a rerate of this magnitude..... all been said, but the market honest believe it until it happens....

£3.50 was stated at the AGM

theorist, i have had multiple lunches with pa and william izod, i have attended multiple agms, i have spoken with board members such as tim george, rocky smith when they visited london 3 or 4 years ago, i have met jeremy beaton, steve sharp, alison saxilby at various agms. i met rob ****** when he attended at px groups saltend site a for a presentation at which julian hetherington of the uk atf and michael stiasney, (the fund manager of m&gs uk recovery fund sat and still sits )were also present along with the promoters the yorkshire energy park.,i even met the new coo, karen brown as she was present at the saltend ground breaking with paul atherely and kwasi kwarteng a couple of years before her appointment as coo. in none of these physical face to face meetings or discussion did i have any reason to doubt the integrity of any of the management team, all of whom have had equally prominent parts to play in the development in this project as well as paul atherley. specifically with regard to paul atherley, he has always been candid and honest with me, whilst always respectful of the limits of market disclosure rules for a uk plc. quite frankly think you must have paul atherley mixed up with some else. because the person you are always describing is not the same person that i know....

MAA86, its along time since Theorist came up with a constructive evidence backed post…. Which is a shame.

Happy new Year Keith. I was going to suggest that he read the whole of the thread. But I admit I have got really tired of the crap on here (after you went to warmer climes). Believe it or not your statement that you had difficult logging into LinkedIn was what motivated me to set up the www.thebrownpaper.net if you are interested. ATB Ian

Its here https://www.lse.co.uk/rns/PRE/update-on-longonjo-finance-p9xa33114l7rssd.html

As advised BY RNS IN MARCH, the full finance facility is for 268 million USD, comprising of $160 million USD loan, syndicated by ABSA and including AFC contributing $80 million each. leaving $108 million to be financed by an equity contribution by the FSDEA and AFC. with the exception of the 25 million FSDEA direct payment to OZANGO (already drawn down). according to the release, balance 83 million (108 million minus 25 million) converts to equity, however if Pensana pay $107 million covering fees, interest incurred before the term expires, which i think is 5 years, then Pensana retains 75% of the Ozango asset.

AS1971, absolutely right, you are back on here talking the same rubbish

Cyberbub, if the existing financial arrangements continue, with AFC /FSDEA / and FSDEA, and the 107 million USD convertible converts to shares than PLC will own between 51 and 55% of the Ozango mine in this instance. If Pensana comes up with $107 million USD before the convertible, then the PLC maintains 75% and the Angolans 25% basis the 25 million they have injected so far. If the 100 million strategic is in place and the EXIM arrangement comes off we will maintain 75% of ozango (maybe more if PLC pays 11 million USD drilling program and 30 million additional recovery circuit for Dy/Tb. but at the moment looking like 75% of phase 1 production, percentage of phase 2 isnt know yet, but FSDEA will continue to own 25% of the Longonjo resource. Hope this helps

Thank Tbow112, extremely tenuously, however, the filter has been deployed and temptation will be resisted. Wishing every one on the board (and that means everyone) a Happy and healthy New Year in 2026...

Cyberbub, yes they did, but not on current news flow, there is expected to transformational news, including EXIM support and of January, and the execution of the $100 million strategic investment that hasn't been priced in yet. (they say this is for Due diligence, but i suspect the EXIM support forms part of this). in respect of the progress on the EXIM loan, they have far beyond EOI stage having passed TRC1 stage and preparing for TRC2, at which point barring bard approval all is done and dusted. this is expected to be concluded by the end of January. The flurry of placements appear to have been to strengthen the balance sheet, rather than fund any additional work in Nigeria.