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Warrants we're issued to brokers who arranged the private placement so are likely more sticky. 7 mill sold and bought likely from the subscription at 8p (100%) return. If so 16 million still held. I would skim from the top also on those terms. There are many reasons.

Also, is it as someone suggested, are Shares being offered to hold the MCAP at 50 mill mark ahead of the SPAC. Time will tell.

In the meantime, I am on a 4bag and adding.

Warrants makes sense at double SP of issue price and more importantly the subscription and warrant holding period expired 1st of June when the selling started.

1.5 million of broker warrants. The other 6 likely profit taking at the earliest opportunity. Circa 25% of the subscribed Shares.

Simple as that.

You're right Esspekay, it's way too low :-)

Mcap of Pensana 116 million. 2 years away from production and revenue Rainbow, 67million 2 years away from production and revenue.

Both single solution plays.

Mka 55mill. Imminent production UK, Germany later this year then US. Add a mine and processing via NASDAQ listing. Crazy valuation

Desperate or what? True colours clearly shown. Standard going concern for a company of this stage of development. Financing comes in many forms when the time is right. Not all is dilutative. Institution interest has not even started here.

Agree, still 1.5p on last week. Remarkable really.

I do however feel a move off aim is needed ASAP, too much manipulation.

Ed, pay no heed to Feed. 4 posts all time, all MKA. There isa subtle deramp

MuskyTrumpUSA

I wonder if it's US gov?

So we have a date (could be extended of course) for a decision by end of June.

Given the timing of the Q1 results, the escrow and the current volumes I suspect ducks are aligning ahead of June end.

Interested to see how the SP reacts today.

250, likely a buy at that time imho. It's clear too that the selling is being carefully done. To hold around 50mill mcap perhaps?

It will speak for itself. Nod...wink.

Checkout the posts of m.mcnulty for good summary. Other good posters on here too, so far avoiding the turds mostly.

Chartist view, ZM and others. Double that with SPAC news imho.

I suspect the 750k was the overhang clearing? Price action doesn't make much sense otherwise.

I hope whoever was offloading is happy. I suspect they may not be soon.

You're right re warrants, apologies. I missed the March RNS.

Oh and 300k warrants cashed in adding 250k ish.

Results pack is a good read. UK on track (June) with HPMS vessel in place. Germany on track (Q4) with HPMS vessel ordered and infrastructure build in flight. US on track with acceleration possibilities. 3m dollars cash.

Let's not forget mine and Poland.

Great Stock. Not sure why others haven't realised. Yet!

I suspect we'll see news early next week. The intraday recovery yesterday was a strong signal

Indicates buyers waiting too imho