Member Info for OscarGolf

Pinochio Paul (pwlx),

At 11:25 on 28 May, when the Pensana share price was 102.00p, you wrote "I'm £80k up".

At 18:11 (after the market had closed at 16:30), on 29 May, when the Pensana share price was 96.50p, you wrote "I'm £80k up".

The Pensana share price fell 5.4% between those two times, and you still claimed to be £80k up despite the 5.4% decrease in the Pensana share price.

Your excuse was "I don’t check the stock price every third minute of the day", but surely you knew, at 18:11, that the share price at market close (101 minutes beforehand) was only 96.50p.

Clearly, you are not telling the truth about (1) your awareness of the share price at market close on 29 May (101 minutes before your post), and (2) your shareholding profit. Your nose is getting longer.

Paul (pwlx),

It doesn't require you to check the share price every 3 minutes!

You claim to be £80k up, which means you must have a six-figure investment here and you aren't aware the share price has fallen by 5.4%?

Obviously, you are not a serious investor, or you are just making stuff up.

Paul (pwlx),

On 28 May, when the Pensana share price was 102.00p, you wrote "I'm £80k up".

Today, when the Pensana share price was 96.50p, you wrote "I'm £80k up".

So, the Pensana share price fell 5.4% between 28 May and today, and still you're £80k up.

Given that, I don't believe you are £80k up and can't trust anything else you write, because I would expect your profit to have decreased with the 5.4% decrease in the Pensana share price.

EIDR,

Zinnwald has only asked about 50% of shareholders if they would vote yes and all of those 50% have given irrevocable undertakings to vote in favour.

Most retail shareholders don't bother to vote (despite what they write on chat boards).

Therefore, the probability of the takeover being blocked by shareholders at a general meeting special resolution vote (which would require at least 25% of shareholders actually voting to vote against) is very low.

The RNS announcement on 14 May 2026 stated:

"each Zinnwald Lithium Shareholder (excluding AMG Lithium) will be entitled to receive for each Zinnwald Lithium Share:

5.0 pence in cash; and

0.001577 New AMG Shares.

Based on the volume-weighted average price of an AMG Share for the 30-day period up to and including the Latest Practicable Date of €36.60 and the GBP:EUR exchange rate of €1.1545/£1 on 13 May 2026 (being the Latest Practicable Date), the Offer values each Zinnwald Lithium Share at approximately 10.0 pence each".

So, the number of AMG Shares you will receive is fixed by the above fraction, but the value of the New AMG Shares will continue to vary with (1) the share price of AMG Critical Materials NV; and (2) the GBP:EUR exchange rate.

Based on the volume-weighted average price of an AMG Critical Materials NV share as at the close on Friday 29 May 2026 of €42.12 and the current GBP:EUR exchange rate of €1.154/£1, the Offer values each Zinnwald Lithium Share at approximately 10.76 pence each (being 5.0 pence in cash and 0.001577 New AMG Shares, which are currently valued at 5.76 pence).

So, owing to the increase in the share price of AMG Critical Materials NV, the deal is looking sweeter for ZNWD shareholders now than it did on 14 May 2026.

I will vote in favour of the takeover, because, although it is an opportunistic offer and a low exit value for ZNWD shareholders, I'm happy to take the cash and AMG shares and invest it elsewhere for (hopefully) bigger/faster/more likely profits.

Paul (pwlx),

Do some research and then bring some knowledge or valuable input to the discussion. Or just don't post. Either is fine by me.

HumDrum SunDrum,

You like to make stupid claims that you can't substantiate.

On 29 April, I challenged you to support your interval of 12 days and you couldn't.

Again, on 28 May, I challenged you to support your statement "There are so many flaws to your assertion. But you know everything so there's zero point in me flagging them." by flagging any flaws and again you couldn't support your statement.

Twice I have challenged you to support your incorrect statements and twice you couldn't. Therefore, you are a serial loser.

You are a loser!

Yet another day has passed with no RNS update.

UK-listed companies are subject to a continuous disclosure requirement designed to prevent the creation of a false market in the company's securities. The UK Market Abuse Regulation (UK MAR) requires listed companies to publicly disclose inside information directly to the market as soon as possible.

Pensana's RNS announcement on 4 March 2026 stated, "Pensana is pleased to provide an update on the proposed Strategic Investment of US$165 million ("Strategic Investment") in support of the development of the Company's U.S. Mine-to-Magnet strategy, by Cascade Natural Resources Limited ("Cascade")... The Strategic Investment remains subject to long-form documentation and completion which are expected in the coming weeks."

However, it is now 86 days since that RNS announcement and there has been no update about the long-form documentation and completion of the part of the Strategic Investment that relates to the sale of 38.2% of Pensana's shares in Sable for US$150m.

At a Pensana shareholder meeting on 9 March 2026, Paul Atherley (Chairman) confirmed that legal documentation from Cascade had been received, the process had formally commenced, and it was simple documentation as it was essentially just a sale of shares in Pensana (for US$15m) and a sale of shares in Sable (for US$150m). So, why is the Sable documentation taking so long?

Is this US$150m part of the deal still happening?

Why hasn't the long-form documentation been agreed and executed yet?

I believe that an update about the part of the Strategic Investment that relates to the sale of 38.2% of Pensana's shares in Sable for US$150m is inside information (because it is information that is precise, not public, and would likely significantly affect share prices) and, therefore, must be disclosed directly to the market via RNS announcement as soon as possible.

Also, there are two other updates required:

1) First concrete pours - The Interim results for the six months ended 31 December 2025 that were announced via RNS on 27 March 2026 stated in the CEO's Review "concrete batching plants are being commissioned for the first concrete pours scheduled for April 2026" and in a later section "The aggregate and concrete batching plants are being commissioned for the first large concrete pours scheduled for March". It is now 29th May and Pensana has not told the market if the first concrete pours (described as a "key milestone") have happened yet or are delayed.

2) 7,000 metre infill drill programme at Longonjo - The Interim results for the six months ended 31 December 2025 that were announced via RNS on 27 March 2026 stated "Two reverse circulation drilling rigs are expected to be mobilised for drilling activities during the dry season from May to October 2026". It is now 29th May, so it would be good if Pensana would release an RNS update announcement to tell us if the drilling activities are still expected to start in May.

Chinasyndrome,

You are incorrect again, but, in my haste, I made an error. Here are the correct workings:

Cascade purchased 3.96% (not 3.8% because Pensana made a mistake in its RNS dated 17 April) for US15,000,000.

Sales proceeds = US15,000,000

Cost of investment = US$500,000 * (61.8% * 3.96%) / 14% = US$87,403 because Pensana paid US$500,000 for 14% of Ozango in 2018. Pensana has just sold 3.96% of Pensana, which equates to 2.44728% of Ozango

Net profit = Sales proceeds - Cost of investment = US15,000,000 - US$87,403 = US$14,912,597

ROI = (Net profit / Cost of investment) * 100 = US$14,912,597 / US$87,403 * 100 = 17,062% (or 171 times)

Chinasyndrome,

The more you post, the more you show your ignorance and stupidity.

Today, you wrote, "So Pensana paid US$500,000 for 14% of Ozango in 2018 to increase its share to 84%. They have just sold 15% of Pensana (~ 13% of Ozango) to Cascade for US$13.5M ie that is a return of twenty-seven times on their original investment."

You got that very wrong, because Pensana has just sold 3.96% (not 15%) of Pensana, which equates to 2.44% (not ~ 13%) of Ozango, to Cascade for US$15.0M (not US$13.5M).

It should read as follows:

So Pensana paid US$500,000 for 14% of Ozango in 2018 to increase its share to 84%. They have just sold 3.96% of Pensana (2.44% of Ozango) to Cascade for US$15.0M i.e. that is a return of 4.24 times on their original investment."

Paul (pwlx),

You are wrong again!

I am a shareholder and that is why I attended the shareholder meeting on 9 March 2026.

Paul (pwlx),

That is an ugly brag! I have too much class to brag about my profits on here.

Stoops (Stoops Yo),

Please save your LSD-fuelled hallucinations for the TG group.

Paul (pwlx),

Do some research and then bring some knowledge or valuable input to the discussion. Or just don't post. Either is fine by me.

Because my data produced a different interval. Therefore, I challenged you to support your interval of 12 days and you couldn't.

Again today, I challenged you to support your statement "There are so many flaws to your assertion. But you know everything so there's zero point in me flagging them." by flagging any flaws and again you couldn't support your statement.

2-0

Loser!

SunDrum,

You wrote, "There are so many flaws to your assertion. But you know everything so there's zero point in me flagging them."

I challenge you for flag any flaws, because I do know better than you. I have been following the movements in every top 20 shareholding list published by Pensana and the daily trading.

SunDrum,

No entity is accumulating, because the weekly top 20 shareholders have insignificant movements, the daily volumes are small, and the share price is not rising.

MAA86,

I don't care whether SmartPunter (or anyone else) owns shares in Pensana or not.

I treat anyone on here as a shareholder or potential shareholder, because I don't see why anyone else would waste their time on here. But, each to his own.