Member Info for Mumbles2021

Fregatr, its entirely possible. but it would need to be a significant offer PA, the other directors, the Angolan SWF plus some significant LT shareholders have enough shares to block any deal should they deem it not high enough.

Dimbpunter, I think you have finally grasped it. Every point you make is absolutely valid. That is why it is reading at the price it is. There is risk attached. If there wasn't then the price would be multiples of where it is now. Where I don't agree is on your comment on far better REE miners available. I made my own judgment based on research and backed it with my pocket. I will stand by my own judgement and take the risk that goes with it. You on the other hand have taken no risk on PRE stock.

Choselhirst, entirely possible and depending on the stake and price paid, potentially desirable. As long as it is confined to a stake in Longonjo (Oranto) only and not Pensana

Good morning China. One of the aspects I like about Pensana is that current supply chain structure, ie Longonjo amd saltend means it should be hugely cash generative. The NPV in the BP with a modest capital raise, could easily accommodate a £5 SP with a 50 dividend, roughly equivalent to a £10 a share SP with no cash distribution.

50p a share representing a 10% return on market cap of less than £1,500,000. Not sure which I would prefer. Unbelievably achievable when considering Pensana's peers

50p a share would obviously represent between unbelievable and obscene when applied to anybody who has invest at any price at the moment

DP, you seem to have missed the point that companies initially list for their own benefit in order to raise capital. Nobody expects Pensana to raise funds, turn a switch and generate income. However it isn't a huge infrastructure project. There is no reason why it won't be commission 2 years after breaking ground.

Theorist, i may admit to not being entirely aware of a few fundamentals when investing in mining stocks, such as the Lassonde curve. (I’ve included a few links for you so you don’t have to google it). But having carried out my own research i have been relaxed with the current position despite the best efforts of yourself and others. I am confident that the expected value will come out in the end. Reason why i have stayed with it, is whether i paid £2 or 20p, compared to the potential price, either price is insignificant compared to its potential valuation. And well worth the risk.

https://kuchling.com/the-lassonde-curve-a-wild-ride/
https://www.visualcapitalist.com/visualizing-the-life-cycle-of-a-mineral-discovery/
https://equifund.com/investing-in-junior-mining-deals/
https://www.streetwisereports.com/article/2021/09/27/crescat-uses-lassonde-curve-insider-expertise-in-bc-s-golden-triangle.html

Ive also included the wiki article on Pierre Lassonde, you may find it interesting

https://en.wikipedia.org/wiki/Pierre_Lassonde

Dumbpunter, i was starting to worry, thought there might have been a glimmer of intelligence before. it always a relief when my original perception of an individual is confirmed to be correct.

They have a reasonable reputation. Used to deal with and appoint third party inspection companies myself. But for hydrocarbons rather than minerals. I would have had strong words regarding impartiality myself. "Cease and desist" seems to be the operative phrase here

Obviously should read doesnt mean all. The details required for financing due diligence isn’t available.

Hogsnipe. Think we touched a nerve. I personally have nothing against Dr Higgins or the University of Birmingham. Intervention and involvement of the universities and support of research projects is welcome and necessary. But what i do object to is unfounded opinions that are intended either to derail projects., perceived as a threat to vested interests in maintaining the status quo, or depressing a share price with regard to either accumulating shares at a lower price, or shorting. My own opinion is that it he former 2 of the 3 scenarios. In respect of obtaining funding, Pensana have been extremely responsive when asked specific questions, i for one am satisfied with the progress being made. If their isnt anything by the end of this month, i would consider changing my mind,

Pensana are not struggling to get finance for the mine, they are totally within the schedule advised. They didn’t even start discussions seriously until the beginning of August. The ground work and majority of the data required for financing would have been available long before then, (before the business plan was published and certainly before the capital raise). Just because it isnt in the public domain, doesnt mean all the details required for financing Due Diligence is available,

Your not kidding regarding rare Grants, LCM have been the recipients of at least 6 grants from the EU since 2013, totaling almost 3 million Euros. This in addition to the ATF funding already received. Coming to the conclusion that success in securing the finding wasn’t down to the quality of the project. More about knowing how to navigate the Government departments

Sun drum,, maybe not career suicide, but about as effective as King Canute trying to stop the tide coming in. I also wonder why two of the biggest detractors seem to be Liverpool based. And also seem to be pushing the LCM agenda

DP, "So no place in the UK supply chain for PER" what point are you trying to make. PRE has never been about supplying solely the UK. It's been about filling a gap in the forecast global supply/demand balances for Rare Earths. If you favourite LCM doesn't have vested interests further up their supply chain maybe they would be a willing customer. Ordinarily they should be welcoming it. Strange that you seem to think that they won't. As for the grants they received.
Most of the companies I worked for performed our own feasibility studies at our own cost. We found the internal resources as required. At the end of the day it was in our infests. Quite possible that LCMs shareholders had already extracted the available margins that could have been used for this further up their own supply chain. Leaving me as a UK tax payer to fund a non job generating project.

DP that works out at $40,000 per tonne in a market that's at $100,000 a tonne. Thanks for confirming 60% gross margin, I'll take that everyday

DP, did Theorist tell you to say that?

DP re “They already have LCM setting up the UK supply chain”. To quote LCM’s own website. They been given funding to complete their own feasibility studies, NOT MANDATED TO SET UP THE UK SUPPLY CHAIN!!

QUOTE
As you know, Less Common Metals was awarded funding in November to conduct a feasibility study to identify the requirements for a fully integrated supply chain for Rare Earth Permanent Magnet production in the UK. We can now share the news with you that we have been given support from the UK Government on a second occasion to carry out a feasibility study to consider the requirements for a magnet plant in the UK.

The initial feasibility study, awarded as part of the Automotive Transformation Fund (ATF), has allowed LCM to evaluate the first steps including raw material sources, production of concentrates and separation into individual rare earths, prior to processing into metals onsite, and then alloys for supply to a magnet production facility.

This next study will enable LCM to develop a detailed scope for a rare earth permanent magnet manufacturing facility in the UK. The focus will be on innovation and the study will investigate, market opportunities, location, size of the plant, amount of feed required, health and safety, environmental impacts, local community and employment.

Dumbpunter. Do you honestly believe that what you have seen published is what is being used for discussion on finance .

Theorist, projects and financing in west Africa was my business for 15 years before i was able to retire early and very comfortable. Don’t preach about stuff you haven’t t a clue about. Even Hamilton Engineering on ADVFN accepted the bond rates i suggested were realistic for Angola. And he is more rabidly anti PRE than you are!!!

DP don't start preaching to people who have done this for a living for the last 30 years. You are not wrong that a FEED is usually to do with the engineering of a facility. Ie Fromr End Engineering and Design. But it has been made clear that the FEED in this case, is that and more. I trust that there are good reasons for this.

And Theorist, you need to steer reading other posts. It has been stated that the loan is expected to be in the region of 8-12%. Angola's current credit rating justifies bonds rates of 13-15 %, with Saltend even at the high end of European rates the weighted average falls between the stated values

Hi Eloro, agree with Bwana, quite the opposite in fact. These guys must be bullish and optimistic on the funding to come on board now. These are permanent positions, not financial advisors For the two management team members, the timescale must also be in the short term, rather than short to medium. Management dont employ people who dont have a job to do

Great RNS. Hugely optimistic.