Member Info for Mumbles2021

Hi Sundrum, at the moment, I dont think it is about eroding the SP, more about shaking the tree. At the moment there is no volume to buy. Not at these price levels anyway.

Dao, don't beat about the bush or keep sitting on the fence. What do you really think of our Theo!!!!! ????????

Theorist. i believe you do it to get a reaction. can't be for any other reason. Some perverse sense of gratification from winding PRE investors up.

to quote Greg Hands on the 25th February

"Examples of UK rare earth companies attracting government support include Pensana, which is establishing capabilities to process rare earths for sustainable magnet metals at an offshore wind-powered freeport site at Saltend in the Humber................."

in a reply to a letter i sent to BEIS regarding the above, received this morning

I regret that I am unable to provide you with any details at the present time of funding for Pensana, as this is the subject of ongoing discussions between the Government and the company, which are of course commercially confidential.

may i respectfully suggest that you refrain from stating "as acts" your opinion on subjects that you have the same about of knowledge on as the rest of us...

Lynas PE ratio 31.8, industry apparently 16. Giving potential market caps of almost $10 bn, industry average 1/2 that. So £7.50 to £15.00 not an unreasonable expectation, based on your numbers

Re the “the road” palmers lane i think it has been called. It s visible on Google earth, as a track . I am sure that when PX group purchased the land from a farmer, all existing rights of way were explored and any risks of potential impediments to development of the site were assessed. The previous owner of the field and the land upon which the track runs has taken his money. The ultimate destination of the track has access via Paul road to the east, which judging by the state of the track, is the primary access point anyway. I’m sure PX Groups lawyers will shoot this one down promptly.

Thanks for sharing Tony

Love me... Love my SP!!!!!

Richard, I agree with you that the shareholder management on this has been lacking, and that deadlines have been missed or ignored, (BFS, FEED ETC) and are causing huge frustration. However, to say that you don't have an Ore reserve, is disingenuous in the extreme. i have attached the JORC ore estimate, which is available to anybody.

I am sure that no off taker will be interested in providing the finance without a long term agreement. if this is the case forget about Saltend.

https://pensana.co.uk/wp-content/uploads/2020/09/longonjo-mineral-resource-estimate-upgraded-14-Sept-2020.pdf

Astro999, there aren't that many locations to choose from, most of which are in locations similar to Angola. if there are any in developed countries, they get tripped up by NIMBY's. it s the same with hydrocarbons, cobalt, lithium etc etc. companies don't choose where to mine, they go where the resources are.....

GaiasKidney, exactly my point....

Neredowell, i can sure you that most African states are not a push over. they will respect a contract. however, if a country such as China tries to take over infrastructure, i can assure that Nationalisation will follow. China isn't exactly just over the border Like Ukraine is from Russia. its more likely that China will be respectful to Angola, so they get their money back!!!

Hi Theorist, every now and again there is a grudging respect for your posts. Although no one can work out what your angle is or why. However in this case, it just makes you look bitter and twisted. The The UK trade teams of these countries do a fantastic job and work incredibly hard to promote UK interest with some good results considering the resources they have. I remember having a meeting with one guy when he first arrived in Lagos, he'd had 35 meetings in 2 weeks. Which was just familiarisation with the country. He went on to do another 5 years with spectacular results. I've no reason to think Angola is any different. It may be helpful to your own credibility if all your responses were properly considered instead of just a fraction of them......

DP what is your angle, im sure one day we will find out. It has been incessant since the beginning of last year. I’m sure you’re just a troll. Unfortunately, we keep feeding you, so you keep coming back for more. Gentleman, if you want him to go away, stop feeding him. Its like oxygen to him, cut off his oxygen, and can’t breathe. I remember saying i miss him. Now that age old adage has come back to haunt me, the one that says “be careful what you wish for, you might actually get it!”

China, there is a difference between swallowing a story and saying that the management could, and should do better. If they didn’t want the scrutiny then a private listings and fund raising was the way to go. Obviously this wasn't an option.

As time goes by, shareholders have the option to buy or sell if they don't like the way the company is being operated. All that selling does is put those shares in the hands of buyer who is buying the vision, from one who has lost it. Alternatively, there are those shareholders such as myself who have totally bought in . PAs has done a fantastic job in expanding the Longonjo project in to a full supply chain vision at a time when the energy transition has taken off spectacularly. I give him full credit for this. However, in my view he also has some failings in that he is ignoring the fact that he needs the shareholders in order to fulfil the vision that he has shared, and invited us all to buy into,. Its not just about institutional shareholders and bonds. We are the reason he has got to where he is, this needs to be respected. When PA went public, the project when from his own vision, to one owned by the public. No one person or even a whole management team is indispensable or bigger than a company. They should be allowed to manage, equally they need to accept that they are accountable, and if push comes to shove ultimately replaceable. Its nowhere near this stage yet, but there are many who are tired. However, instead of selling up, are taking the alternative of trying to improve the situation by application of pressure. Regardless of the accusations of Whinging. Its going to continue until such time as the situation changes.

Dao2717, I don't know how closely you have looked at all the documents in the planning application, I have looked at and scrutinised them all. I can assure you that it is the same application as before but for a different site. It maybe that it is an option that is being looked at for a bigger site. But it isn't an additional site. Consequently any progress on commencing construction, or applying financing will wait until the company has made a decision on which site to use. As the company hasn't deemed fit to advise the shareholders of a "potentially exciting option that could ensure future expansion compared to that possible on the existing site. And consider the short delay required to fully explore an small inconvenience compared to the potential creature returns in the future". Because I believe that management are accountable to the shareholders on material matters, and I consider the above material, I'm a whinging Pim.

Nberzins, those two have their own agendas, one day we’ll find out what it is. But my own research indicates to me that PRE is a fantastic project, that will reap huge dividends. I have some issues with current management behaviour. I continue to hold a well. This is not a situation to cut off your nose to spite your face.!!!

Hi China, re your statement "The only mistake I can see was the delisting in Oz; Australians understand mining, unlike the Poms who seem to specialise in Whinging !." The reason for the POMMIE whinging, is that most of them paid in excess of a pound, and have found them selves in the same position as they were at this time last year with little to no visible evidence to show significant progress on the timeline, also and may be because of this, the share price is lower than it was 12 months ago. I know and you know that a huge amount of work has actually been done. For some inexplicable reason, the BOD doesn't want to share it to any significant extent.

Most of the Aussies paid significantly less than 50p and are still above water, regardless of what happens, should any decide to sell now. Us "Poms" expect their BOD's to either keep to their timelines, or explain why they are not, and revise accordingly. They are are held accountable as they should be. We don't continue to make excuses for them, when they don't. Is this not what happens in Australia as well?

None of the above takes away from the fact that this is a great project, with an incredible resource behind it, and a team Non-execs that most companies would dream to have. because of this Im still a hold, and will continue to be so. This doesn't mean that the Execs don't need to get their fingers out. There comes a time when decisions have to be made. There will always be a better option thatcomes up in the future. That doesn't mean decisions get put off indefinitely just in case.

Regarding DP and Theorist, they obviously have an agenda, and mostly spout fabricated and out of context information to support whatever that Agenda is. Unfortunately, the news flow and continually changing status is now starting to play into their hands. Sometimes i believe the BOD are their own worst enemies.

So LCM put the value of the raw material at zero. Interesting concept. It will stay in the ground then. Also interesting that VV minerals own beach resource is classified as a Thorium source, and is controlled by India's atomic energy authority. Was ignored, and the Chairman got jailed……we have yet to see the plan, all we have seen is a document that was regurgitated from one published 12 months previously. But then again, LCM are experts in sourcing public funds. So much so that their own accounts incorporate a clause as to how grants are treated as income.

Hogsnipe, thanks for that. Crazy thing is that within some of these Nominee accounts, there seem to be additional groupings of anonymous shareholders, (if they are not, they should be issuing a TR1). Simply Wall Street analysis of PRE’s shareholders appears to have been updated recently. Doesnt include the M&G holding though. Within their analysis, Lockwood advisers are indicated to have over 30 million shares, or 13.63%, this is currently parked in Pershing’s nominee account.

MrStencil360, most of the top 20 are nominee accounts, i know, I’m in one of them….. they are convenient holding mechanisms for electronic share transactions, they are also useful for concealing the actual owners of other minority shareholdings. Nominee accounts usurp some of your rights, compared to if you are a conventional shareholder. But even then a shareholder can get his voting rights back by Proxy. Somebody made a statement today, that because we only have 13% of the votes we cant wag the dog. your rights and mine are as valid as anyone else’s. You just need to shout loud enough. As far as i am aware, the ASWF own 23%, M&G own 5%, PA has a large lump, and others own less than 5% each. So where did the 13% figure come from

Why would PA update the other 10%?, because the moral obligation to do so, that why!!!

And Theorist, Hohnan and Machlaclan still own their shares