Member Info for Mumbles2021

DP the mine doesn’t have particularly high thorium levels. They are there. They are known and will be dealt with responsibly during extraction and processing in Angola. This has been done to death and doesnt need going over again.

As for buying the mine for 1/2 million dollars. They didn’t buy a mine. They bought the exploration rights, upon which some preliminary work had been done, which were encouraging and warranted the purchase of what was some very promising acreage. It didn’t become the asset it is now, before considerably more Cores were drilled and analysed, establishing the geographical limits of the reserves within the license boundary, and the concentration of the various RE’s within it. It became a mine, when the reserves were declared and the mining license was awarded by the Angolan government. There is a huge difference in value between an exploration license and a mining license. Don’t confuse the two, they are not even remotely the same.

DP, that's the one, you do read the available info occaisionally. Absolute bargain wasn't it!!

Boy, are you bitter and twisted, with absolutely zero objectivity. i suspect you also have a leaning towards masochism. So i guess that's what "Floats your boat" if you care to read the blurb that goes with it. you will see that the nominations are made by an independent group of individuals, who discussed and decided on the finalists as below. You can find the Bios of the individuals in the link following

VOTING PANEL

The voting panel met in two sessions on Thursday 25 February and Tuesday 2 March 2021 to debate the nominations and arrive at a final shortlist. The panel members and their credentials are shown below.

https://www.plc-awards.co.uk

Canetoad, agree with your last para... its painful, but if an investor is confident in the fundamentals, of the company, the economics supporting its sector and the competence of the management team, which i am. this is a definite hold.

the fact that Pensana have been nominated for the New Company of the year PLC awards taking place this week speaks volumes regarding the structure and management of the company even if they don't win anything

DP, i answered little too hastily as i thought it was a strange answer, but now i know it is a strange answer. You mean the ATF is OK with transfer pricing and short changing the UK Tax payer?

How do you know that. please share. How close are you to LCM?

DP, that is a matter of opinion, that a considerable number of investors who have done their own Due Diligence dont agree with. But it has nothing to do with the points raised by Chinasyndrome. To stay on track.

LCM have an ownership structure that allows an opportunity for the foreign shareholders within that structure to extract considerable margin before LCM receive their feedstock. This comes at the expense of LCM ltd own P&L and consequently the UK taxpayer. Which considering the grants that LCM have received is justified to receive public scrutiny.

If it turns out to be correct, then not only is the UK tax payer being short changed from underpayment of corporate income tax, which would instead be paid in a lower tax rate jurisdiction, but also that same company will be receiving many 100,000’s of pounds of UK taxpayers money from the grants that have been awarded. Being a double whammy to UK tax payer.

All limited companies have shareholders. I know where to look, but its all in the public domain. its called do your own research. Fully agree that all companies need a contingency plan in the event that there is an interruption in their supply chain, i also agree that all companies have to demonstrate their reliability before expecting any business at all.

DP, think or don't know? are you able to speak on their behalf. very interesting shareholding structure. With a very strong bias to Singapore. Not sure the shareholders would welcome an operation that means they have no reason to start and stop their own supply chain within the UK. especially when on the face of it, they could add 65% to last years bottom line on freight savings alone.

DP, before we continue with this discussion, do you really want to drag LCM into it. As I said before, there is no comparison between the two projects, and taken at face value, LCM actually stand to increase their profitability from a competitively priced local supplier. (note the emphasis on "on the face of it"). However, if you would like to continue, just say so. word of warning. im not sure LCM will be too pleased.

DP whilst desirable, it is a good job that the project isn’t dependent on the ATF isnt it?. The figures touted around as to the value of the ATF support represents less than 10% of the totalled required CAPEX. Nice to have, and very helpful, but it wont kill the project if it doesn’t materialise. At the moment there is no suggestion that it wont

What i am having real trouble getting my head around is how you are comparing Less Common Metals with this project. Taking nothing away from them as a company or from the individuals who own and run it. However you brought the subject up.

LCMs turnover in 2020 was apparently £ 6.6 million pounds. (On which they made approx #200,000, which for many companies these days is an achievement). This represents in the region of 500 or 600 MTs of finished product. The Pensana project is for 12,500, with a projected turnover of $550 million p.a. This isnt comparing apples with oranges, it is comparing a water melon with a grape. They aren’t comparable. I would very much hope that LCM will find the new source of raw material available to them from Pensana as a huge plus to their business.

Hogsnipe, not to mention the production and availability of huge quantities of hydrogen by Equinor at their proposed plant at the saltend site. Making Pensana position unique in the UK and Europe in respect of potential for NdPr magnet recycling.

DP, by the time, LCM metals have completed their feasibility study. (At a cost of £3 miilion funds, i believe. one hell of a feasibility study.). Saltend and Longonjo will be nearly completed. Desirable as the ATF is, the program is not dependent on it. Beleive LCM will have missed the boat by then.

DP, i believe that they may be your neighbour and possibly an extremely good client. Maybe i should ask my old company who is looking after your account with them.

much appreciated, thanks

They are my favourite

Why your interest, that's what I don't get

Sundrum, i think the question is, why are these two to so damned interested in this stock?. particularly as they say they have no interest????, Does that make sense?

DP - re: "because they aren't doing anything of the sort". a very emphatic and direct statement, looks almost a panic moment to me

Essexdog, really interested in this, where did it come from. Capital investment group shares are held by Pershing Nominees. interesting to see them separated out.

Theorist, obvious you have a alternative agenda. Will be delighted to continue the conversation