Member Info for SmartPunter

Summary of Economic Potential

​If the 10,000 tonnes produced daily at Richards Bay were processed for REE recovery before disposal, the annual yield would be approximately 14,000 tonnes of mixed rare earth carbonate. At current 2025 prices, the Neodymium and Praseodymium (NdPr) content alone would be worth hundreds of millions of dollars.

Environmental Controversy

​This method is highly controversial and makes the Richards Bay plant a frequent subject of environmental study:

​The "Missing" Waste: By dumping in the ocean, the facility avoids the risk of "stack failure" (like the infamous Piney Point leak in Florida), but it introduces heavy metals, fluorides, and radioactive isotopes (Uranium and Thorium) directly into the marine ecosystem.

​Sustainability: Even Foskor has historically acknowledged that marine dumping is not a long-term sustainable solution. There are ongoing efforts to pivot toward beneficiation—turning the 10,000 tonnes of daily waste into gypsum boards for low-cost housing or soil conditioners for the local sugar industry.

Rare Earth Content & Composition

​Studies on Foskor's phosphogypsum waste (both in the Richards Bay facility and the Phalaborwa source stacks) show a Total Rare Earth Oxide (TREO) concentration of approximately 0.36% to 0.44%.

​The "basket" of elements found in this waste is heavily weighted toward the high-value magnets and heavy rare earths:

​Light REEs (LREE): Dominated by Lanthanum (La), Cerium (Ce), and Praseodymium (Pr).

​Magnet REEs: Crucially, it contains high levels of Neodymium (Nd).

​Heavy REEs (HREE): Contains notable amounts of Dysprosium (Dy), Terbium (Tb), and Yttrium (Y).

​Why this matters: At 10,000 tonnes of waste per day, Foskor is effectively pumping roughly 40 tonnes of rare earth oxides into the ocean or onto stacks every 24 hours. At a 0.4\% concentration, this represents one of the largest unexploited secondary rare earth resources in the Western world.

Tis but a flesh wound..

"But currently, the Foskor flotation plant sends all of its phosrock concentrate to Richards Bay and the phosphoric acid plant in Richards Bay services the phosacid needs of the region and also exports"

The Richards Bay phosphate facility, operated by Foskor, generates approximately 10,000 tonnes of waste phosphogypsum per day. While most phosphate projects utilize massive land-based "gypsum stacks," the Richards Bay plant is unique in its historical and current disposal methods

There is a whole another plant producing the same PG ....

Https://www.kyivpost.com/post/66517

USA commitment and involvement . $0

$90bn loan agreed from EU, $45bn weapons supply committed.

https://www.politico.eu/article/european-council-summit-ukraine-aid-russian-frozen-assets-live-updates/

War good for another 2 years

I assumed everyone knew he is a friend and ex employee of Paul?

China is an insider.

LMAO, its been "coming soon", for nearly a decade

Immediate resignation and no new advisor, followed by suspension, indicates something very bad.

Actually, its also based on these for 2025:

full drawdown of the required Longonjo equity funding component for Stage 1, to the satisfaction of the remuneration and

nomination committee (30% of award);

• full drawdown of the Longonjo debt component for Stage 1 (30% of award);

• 30% of award on cold commissioning of Longonjo Stage 1 (30% of award); and

• measured annually on the health, safety, security and environment framework (10% of award).

>> loaded against project delivery?

Well its does not look that way. Maximum bonus is for the the rise in share price. No mention of delivering the project.

Look at the accounts. Its something like 4.2million for the 3 of the team at maximum share price ramp, which is the determination of remuneration.

pg 66

https://pensana.co.uk/wp-content/uploads/2025/10/Pensana-integrated-annual-report-2025.pdf

Paul is part time, his other job is at ALK.

Https://www.ft.com/content/1ccd480b-4926-45ca-b70a-bd8ba3058d10

"Atherley, who previously raised $120mn from investors for a uranium project in Spain which was never built, will receive £275,000 a year, which can rise to £750,000 with bonuses."

No?

Oh dear.

Maybe you could list all the successful mining projects Paul has built.

>> Theo has an open invitation to lunch with Paul Atherley. But for some reason won’t take him up on the offer

Really...?

If he has time to spare, maybe Paul should find the time to have an investor interview where he can go on record and answer some simple questions.

Like.. has Pensana received the funds from the April funding and when will the MREC processing plant be ordered and built.

MAA86

They did several other raises at a higher prices, There is a limit how many you can do.

Mumbles2021 they are not buying shares from existing shareholders.