Member Info for ReMax

OscarGolf, save to say, I am happy to continue this dialogue, so let's get to the point, are you trying to say you point has credibility? The completion of the US$15m Pensana leg shows the process is real, but it does not follow that the Sable leg should have completed on the same timetable. Even a “simple” transaction still needs final legal drafting, approvals, and completion mechanics across the relevant parties. A delay is not evidence of deception.

It is also important to remember that the Cascade funding side is not a narrow one-party arrangement. A Qatar connection has already been referenced as part of the broader funding team, which suggests a wider and more involved structure than some posters are admitting. In that context, longer-than-expected documentation is entirely plausible.

On the share-price issue, a consolidation does not create value. It changes the share count, not the underlying market cap. So if the criticism is that Pensana is trying to engineer a higher share price rather than deliver progress, that is a separate argument from whether the Sable documentation has taken longer than first indicated. I believe PA idicated that a consolidation was not the preferred course and with upcoming announcements, the share price will invariably look after itself. Did you miss the fact taht the drilling program at Longjorno is targeting a 1billion ton resource... you would know that the previous drilling program was still open to drilling on 3 sides open and at depth!!! Surely, the previous drilling went deeper than necessary to demonstrate a 25 yr life span, I heard a rumour, 50 years is a moral but some crafy characters are wanting 100 years mine life thus maybe part of the delay here with DFC and the Trump connections taking private positions in DFC supported project!!! Watch this space!!!

Back on topic... one leg completed (Pensana 3% odd); the other (Sable) taking longer is not unusual. A wider funding structure, including the Qatar connection, makes delay plausible — it does not make it irregular and surely not misconduct. Check out the DFC website on Pensana, surely more to be revealed as Anna Mann (ex DFC now with Pensana for a very good reason... refer mine to magnet tratedgy)... delays expected given players have understandably been distracted by events in the Middle East... all that counts will be revealed!!!

OscarGolf as to :-

1/ The US$150 million Sable transaction remains subject to long-form documentation, which is normal in a multi-jurisdictional deal involving multiple parties. Cascade has already paid US$15 million, so the transaction is clearly progressing.

2/ The ownership and financing structure behind Cascade is commercially sensitive and not something the company is obliged to unpack publicly unless it becomes market-relevant.

3/ Pensana has already advanced its mine-to-magnet strategy through MOUs and strategic relationships, and a binding offtake is the next logical step, but the absence of one today does not mean nothing has been done. VAC’s change in ownership may also be contributing to timing, because even where the business says “business as usual,” the parties still need to work through continuity, consent and documentation before finalising a binding arrangement.

4/ Pensana has already said Absa is conditionally supportive of the debt package, subject to documentation and conditions precedent. That is progress, not failure.

5/ The US DFC’s involvement and reference to Pensana as a strategically significant asset shows this is a serious project with strategic backing, not a misleading one. 5) secure a US EXIM guarantee for the US$160m debt

This is a separate and material financing step, and it is reasonable to say it is still being worked through. An EXIM-backed package would depend on the final structure of the debt, the project’s eligibility, and completion of the supporting documentation and conditions precedent. In a transaction of this kind, the guarantee is not just a formality; it is part of a broader financing process that takes time and coordination across multiple parties. It is surioulous and misleading to suggest that the EXIM guarantee be offered as in the end it may not be necessary to derisk the project to progree the ABSA / AFC debt part of the funding. Best you stop posting and allow things to unfold, I believe, there is a lot more to unfold... I can elaborate if prompted!!! May I add, I am very happy to accumulate at these current levels given Stonegate Capital and the Board have referenced a share price over $4US, which we know is the entry point required to be listed on NASDAQ!!! We also know that the strategic partner's Chairman is a very experienced practitioner in attaining NASDAQ listings!

Pensana’s disclosures do not support the claim that the board has misled or not adequately informed shareholders. The US$165 million strategic investment is being progressed through long-form documentation involving multiple jurisdictions and counterparties, so some delay in completion is entirely unsurprising. Cascade has already paid US$15 million of that amount, which shows the process is active and moving forward.

Longonjo is also clearly not a dormant project. Pensana has said main construction is well underway, on budget, and targeting first production in 2027, with its June update stating that development remains on target, on budget and over 20% complete. Also advised that over 2,000 pilings are anticipated to be in the ground by September which is a major construction derisk and necessary for the onsite installation of the modular components already commissioned and being built off-site.

The funding package also includes the earlier US$25 million support from the Angola Sovereign Wealth Fund, alongside other supportive parties such as M&G. Add to that the US DFC’s reference to Pensana as a strategically significant asset, and the more sensible conclusion is that this is a complex transaction taking longer than expected, not evidence of concealment or misrepresentation or lack of update.

The facts point to a complicated cross-border financing process, not to board misconduct or failure to update shareholders on the progress of mine construction. In fact, any comments stating otherwise are unsubstantiated!

Pensana’s disclosures do not support the claim that the board has misled or not adequately informed shareholders. The US$165 million strategic investment is being progressed through long-form documentation involving multiple jurisdictions and counterparties, so some delay in completion is entirely unsurprising. Cascade has already paid US$15 million of that amount, which shows the process is active and moving forward.

Longonjo is also clearly not a dormant project. Pensana has said main construction is well underway, on budget, and targeting first production in 2027, with its June update stating that development remains on target, on budget and over 20% complete. Also advised that over 2,000 pilings are anticipated to be in the ground by September which is a major construction derisk and necessary for the onsite installation of the modular components already commissioned and being built off-site.

The funding package also includes the earlier US$25 million support from the Angola Sovereign Wealth Fund, alongside other supportive parties such as M&G. Add to that the US DFC’s reference to Pensana as a strategically significant asset, and the more sensible conclusion is that this is a complex transaction taking longer than expected, not evidence of concealment or misrepresentation or lack of update.

The facts point to a complicated cross-border financing process, not to board misconduct or failure to update shareholders on the progress of mine construction. In fact, any comments stating otherwise are unsubstantiated!

Hogsnipe, I have to agree with Mumbles; your ignorance is surely a surprise to those of us who bother to read posts on this board! Your posts are usually constructive. Sheikh Dr Badr bin Dalhim Al-Hajri is a well-known figure who holds a PhD and is a senior representative of the prominent Al-Hajri tribe—a major, highly influential tribal group across Qatar, Saudi Arabia, and the GCC. His credentials and standing are entirely legitimate, which is exactly why his corporate appointment to Cascade's board required formal regulatory disclosure. Calling him a "mystery man" simply shows a lack of understanding of Gulf cultural and tribal structures and his legitimate use of the title of 'Sheikh'.

Seems like an update is forthcoming. The Chairman of Ozango Minierals states in below article that Ozango (Pensana major shareholder) is developing the Longonjo Rare Earth Refinery Project in Huambo, says in early 2025, the project secured a major financing package of roughly USD 268 million, allowing Phase 1 construction to proceed. Over 2025 and 2026, the project continued attracting new capital, with USD 100 million announced in late 2025 and approximately USD 165 million in strategic investment commitments in 2026.

The funding will largely come through the Absa Bank of South Africa and strategic investors. With this development, Ozango managed to accelerate work activities on the site. Processing and mine infrastructure are being built, and commissioning remains scheduled for 2027.

https://theenergyyear.com/articles/longonjo-angolas-strategic-critical-minerals-asset/

A long term shareholder has moved on having sold 1.7m shares over the last month thus explains the downward pressure on the share price. Recent loading was the last bundle of 250,000 shares. Apparently, his wife still maintains a 300,000 position. Good luck to him and his wife.

The revised structure will benefit all shareholders which will be apparent when the identity of the Strategic Partners is disclosed. Signing of the amended documentation and payment of the $165m is anticipated within the next couple of weeks. Yesterday's presentation at the shareholders meeting speaks volumes!!!!

https://pensana.co.uk/wp-content/uploads/2026/03/Pensana-Corporate-Presentation-March-2026.pdf

SmartPunter, my apologies for not referencing you in my post...was thinking you were 'smarter' than DumbPunter, your alter ego! Obviously not! Enjoy reading the two (independently written) Articles which are hardly published as part of a "share ramping operation".

Regards, Remax (Shareholder)

The following articles posted yesterday by The Metalnomist publication should be more believable than what is written on LSE by Theorist & Dumbpunter....

https://www.metalnomist.com/2026/01/pensana-vac-rare-earth-offtake.html?m=1

https://www.metalnomist.com/2026/01/cyclic-vac-us-magnet-recycling.html

Agreed. China is gratitudisly invested and PA's mouth piece. Giving equity to insiders who basically are not on the same page as shareholders generally is against all principles of corporate law ... having said that the project is strategic but should not be at the expense of shareholders value being diluted. Sure, by 2nd quarter the "Brokers" will run the share price to $4US being the eligibility criteria for admission to NASDAQ... but at what unnecessary loss / cost along the way to the shareholders whom this Board is mandated to represent? PA is only interested into courting investors that serve his purpose. Turn a blind eye on the ethics (for the moment) and enjoy the ride to $4US listing on NASDAQ

Hi Karl, Mumbles is far from touchy! You may be a little confused, it is the Smart Punter / Dumb Punter not expressing legitimate comments or legitimate concerns. If you have concerns or questions, you can simply do your own research or reach out to Mumbles and he will constructively point you in the right direction so you make your assessment on whether Longonjo will go into production and when. Mumble's reference to 100 yrs was more about having an opportunity to supply literally 100 yrs of product to many offtake partners for processing magnet metal / magnets into various markets which cannot be fulfilled without increasing the output capacity of Longonjo and identifying the resource base to satisfy the existing MOU'S x 5/6 all wanting 100% of the already funded production plant's capacity. If all you are expecting is to see production on the scaled down funded model, then fine, however before you make another more unjustifiable comment about Mumble's post, you should realise that there is a much bigger picture about to develop here with Pensana, one that DumbClown has neither shares invested in and has a mouth that simply needs a sock in it. Many Pensana investors are sick to death of this DumberClown, don't entertain him because giving credit to him is what he wants you to do, which makes you, question progress into production. The $11m is a question of risk to reward and i assume those engaging with Pensana will only be too happy to participate, as has the US Government's involvement in the current drilling being undertaken at Coola. Lonjorno is open on 3 sides and yet to be adequately explored at depth. You will find that both MP Materials and Lynas have done the same defining their resource potential and with far higher capex, $11m is small change in the R/E space !!!

Theo, whist you may have raised some valid points for discussion over the years you have absolutely achieved one thing which is evident, you have riled many to pursue you personally as a result of you arrogance, so, take note, you will soon face reality in more ways than just Pensana becoming the first R/e mining company to be independently funded in Africa but to be so humiliated as a woo full grub who would detract by using his wife supposed name to detract from the issue these guys seek to resolve...that is, whoever you are, stand up, man up or f off! Your choice to keep this discussion professional and constructive or continue on at your personal & professional peril. I get the feeling you can hide behind your wife's skirt and, that is, a fitting place for you, moving forward:)

. I am, as with other shareholders, invested in Pensana and would concur with their sentiments that enough is enough, especially given, Pensana's Longonjo mine funding is about to be funded from preliminary civil works to full production.

Time will tell, and, ?

AS 1971, can u quit the self adulation, your bla bla, bla... enough, ok! Did you average down, cry baby?

AS 1971 as I said, and hopefully sooner than later (by end of September), you will have opportunity to challenge me, face to face! If I am wrong, I will man up then, only if I am wrong, otherwise, you will be the one to man up! Let's wait till then, ok?

AS 1971, your nightmare hasn't dropped yet! Over patronising you, save to say, acknowledging your ignorance once again! Ndpr on a steady path upwards = 390,500 CNY/mt +500(+0.13%) VAT included tip 54,607.75 USD/mt, unlike other hopeful producers, Pensana does have a PATH to production into oxides & metals! You should stop being a Smart AS, and get back on your meds, it seems you only comment when the share price is heading into lows, where even you should see, this is a buying opportunity...

looking forward to you squirming out of this when all funding parties sign off and structural works commence...glad you are not a bona fide shareholder rather you be considered an ass!

Hey, AS we still on for a get together to celebrate what, your ignorance?

AS, no worries, apology noted! I generally maintain the same tone, so haven't soften!!! In passing, you have never given me reason to comment, other than for which you have apologised! As for our catch up, after funding in Melbourne, I'm in unconditionally save to say, let's be on the same page, positive posts concerning Pensana until we agree otherwise, deal?

AS, not me, I don't name call unless I have good reason to, let alone call someone out like that!

Do I receive an apology, just saying! Lol