Member Info for Mumbles2021

Calculating, referring to MJM3's rantings, if you would like to refer to page 65, para 9 of the attached document. the recommendations contained in this document from of the Planning office were accepted by the Planning committee, together with the timelines required to complete. https://downloads.eastriding.org.uk/corporate/committees/planning/planning-committee/agendas/Planning%20Committee%20Agenda%20-%2026%20May%202022.pdf

i forgot to add, all this has to be done before 10th of June.

The decision was for deferral and approve. The decision has been deferred back to the director of planning for East Riding Council, for Approval. Approval being contingent on the signing of an S106 agreement. This agreement being the commitment by PRE to fund the required highway improvements to the sum £35,000. From the planning committee meeting i would also assume that there will also be requirement for the planting of Mature trees along the boundary line between the site and the houses known as Glencoe villas that are located on the opposite side of the road, but facing the site. Assuming that PRE agree to these terms, then this is only a formality, but until the the S106 agreement is signed, the formal planning consent will not be issued. Without this an RNS cannot be published.

Theo, here’s a hypothesis for you. Nobody is selling, certainly not at this price. The volumes are so thin that when some shares do come on the market, they are price takers. Whilst there aren’t may willing buyers, there aren’t any willing sellers either. Consequently It is easy to keep the price at a level that anyone determined enough wants it to be, without to much effort or risk. At this stage in the game the share price is irrelevant until there are willing buyers and willing sellers. We’ll see in the next few weeks, possibly days….at the moment I’m quietly confident we’re on the right. Time (and not a lot to go), will tell

Theo, just read your rant. The missives such as wel f**k me backwards, toys and pram sprig to mind. I would go and get a chill pill or something you might be about to burst a blood vessel

Theo, meets the objectives to validate the project, not to find any particular part of the construction project or administration costs. I fairly confident that the discussion with the ATF didn't include the magnitude of any incentive or bonus payments when determining the quantum of the award

PRGgc, that's exactly what it is. affirmation that all the boxes have been ticked. I don't think i said anywhere it was a pointless sum. i said that the grant should be the "minimum required to meet the objective". i believe this is just right.

Aim of the game, think you'll find it's correct. As a UK tax payer I'll be pretty p*ssed off if it's any more

Theo, the £4 M was never meant to unlock finance for the mine. How can it. But it can and most likely will unlock the finance for Saltend. Which then will be an established financed offtaker that will be ready before the mine starts producing consequently assuring cash flow from day 1. Very catch 22. I admit I've been struggling a bit recently. Bit seems to be coming together now, very nicely.

MJM3 if my government gave a significant chunk of cash to a project with the forecast profitability of Pensana, i would be seriously asking why it wasn't in the form of equity. Depending on how the grant has been justified, ie to unlock investment then the minimum required to achieve that objective is what is required. Anything more is not value for the taxpayer.

Theo, you make this statement 44 minutes after the market opened... credibility may have been maintained if you at least waited until lunchtime or COB

MJM3, we certainly are.

MJM3, assuming you are a shareholder. What would you like to happen, and if it ‘ what will you do. Hold your shares or cut your losses (if you have any, i do, before you ask). I have my own thoughts on how communications could have been much better, but i still haven’t seen anything to panic over.

DP. Normally I just find you irritating. But now I just see you as desperate. There can be any number of reasons for no RNS at 7 am on a Monday morning. But you know and I know that high quality newspapers such as the times will verify their facts and their sources before going g to press. , Also they are not restricted by bureaucracy and governance rules, not to mention the working hours of the city.

here is the link
https://downloads.eastriding.org.uk/corporate/committees/planning/planning-committee/agendas/Planning%20Committee%20Agenda%20-%2026%20May%202022.pdf

Sundrum, thats just plain mean... of course he can come to the party. Theo has provided most of the high quality sparring on this site. although I think Hamilton was better....... will be very happy to buy either of them a drink, if im feeling generous enough DP will get one as well.

Theo, dont know about you but ive startted partying already. at the moment im wrapping myself round the outside of a rathernice Sauvignon Blanc

You may want to read the planning committe agenda notes on the Pensana application and the attached report that was published today. in case you missed it the Conclusion and Recommendation, it states

CONCLUSION
Planning policy supports the principal and there are no design, landscape or visual amenity; residential amenity; pollution, flood risk or drainage; nature conservation or ecology; access, parking or highway safety; public rights of way or heritage concerns.
RECOMMENDATION
It is therefore recommended that the application be DEFERRED for:
a) No significant objections being raised by from Historic England and Conservation b) The completion of a Section 106 Agreement to secure
(i) a£30,000financialcontributionfromthedevelopertowardsthedesignandcosting of improvements to the A1033 junctions identified within the East Riding of Yorkshire Infrastructure Delivery Plan
Subject to the completion of the Section 106 Agreement, the Director of Planning and Economic Regeneration shall then be authorised to APPROVE application for planning permission subject to conditions as detailed in the recommendation section of this report.

MOF, it says that the decision is deferred to the director of planning. pending the signing of an S106 agreement to pay for road alterations, a total sum of £30,000. At which point it is recommended that the project be approved.

Theorist, if you read the RNS, you will note that the shares were valued at £1.20, not 79p.

MJM, not sure who that was aimed at, but i certainly have no privileged position. I do know where to look though for all the info in the public domain plus i also have the time on my hands and the interest to do it, and have tried To join the dots. I may have got it completely wrong, As stated before, the amount of dot joining having to be done should not be necessary. But it is what it is. So after I’ve done my research, i decide whether to hold on the entrance price, the price now, and the potentials for losing the lot against a considerable return. I also look at the risk premium being applied to the current price compared the potential piers and have taken a view. If it was a risk free investment the price would (or should be) many multiples of where it is now. Equally, if it goes the wrong way, i lost quite a large chunk. But at the moment i an of the opinion it is going in the right direction. We’ll see. I’m not defending anything, just explaining my rationale compare to your own. Everyone has their own view……..