The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Https://pensana.co.uk/longonjo-site-activities/
Quite right Theo, nothing to see here. Probably all generated by AI.
Lewis - you really should get out a bit more. Take a long, hard look at yourself and ask yourself, why am I commenting on a board about a company I'm not invested in, trying to antagonise complete strangers whilst hiding behind a keyboard.
You've got to admit, it's a bit f***ing odd, isn't it?
"On 28 March 2024, two of the company’s directors have made available a loan facility of GBP 2 million to meet the underlying operating costs of the UK over the next 6 to 9 months"
Given Saltend financing is contingent on LJ being financed, it is good to see Directors putting their own money in - and not an insignificant amount either. No doubt the regular downrampers will attempt to negatively spin the loan, but anyone invested or thinking of investing in PRE should be encouraged by this development.
I'll take the bait SP.
The Mineral Corporation independently completed the technical due diligence report which included a review of the BFS on behalf of ABSA bank in January 2024. They also reviewed all of the operating cost centre data and they concurred that the operating cost estimates as provided met the accuracy levels associated with the BFS.
As a result, ABSA Bank are part of the Longonjo lender consortium which has signed the non-binding term sheet for the project finance debt facility.
https://pensana.co.uk/wp-content/uploads/2024/01/2024-24-01-Technical-due-diligence-report-on-Longonjo.pdf
https://pensana.co.uk/wp-content/uploads/2024/02/2024-02-25-Longonjo-Financing-Final.pdf
As I say I am very happy with Pensana's progress. I'm sorry that you don't share my enthusiasm but ABSA, FSDEA, M&G etc etc do, and that is all that matters.
Https://www.rainbowrareearths.com/wp-content/uploads/2023/09/Corporate-Presentation-September-2023.pdf
Page 29. Presentation dated 19 September 2023.
https://www.rainbowrareearths.com/wp-content/uploads/2023/10/RRE-2023-Annual-Report_Final.pdf
Page 8. "This resulted in an impairment review being carried out for the Gakara assets in the year ended 30 June 2023 and led to the net assets being written down to nil as at 30 June 2023."
Why were they claiming they were negotiating with the Governement and looking to restart operations in September when they'd written the assets off in June?
Lol. I've never been happier with my investment in Pensana.
In all seriousness, aren't you just a little bit concerned that the BOD of RBW not only concealed the truth about the Gakara asset for 4 months, but 3 months after writing the assets to nil, they included it in a Corporate Presentation, claiming they were engaging "with the Government to renegotiate terms of the Mining Convention and to restart operations"?
You must be mad.
SmartPunter - I tell you what isn't very smart. Investing in a company where the BOD have willingly put out a presentation which includes a verifiable lie in it. I'd be very careful if I was you and perhaps focus on your own investments instead of wasting time on a company you have no shares in. #gakara
Which is why the company have been talking to Japanese, US and European Automotive OEMs as well as European wind turbine OEMs. One of which has agreed to the offtake of 100% of Longonjo's production. And yes, this information is included in an RNS if you look carefully enough.
Lewis - The wind turbine manufacturers and auto OEMs (to name but a couple of markets) recognise the RE prices as quoted by the SMM are manipulated. They are also acutely aware a supply crunch is around the corner hence their desire to secure reliable, ESG rated RE from Western suppliers. It's all well and good chancing your arm on the open market at budget prices but if China can't (or won't) supply REs you don't have a business.
As you are no doubt aware, Pensana already has an executed letter of intent in place for the offtake of 100% of stage 1 production from LJ.
Tony - Having not posted on the PRE board for over a month, today of all days you highlight your concerns about a global equity meltdown? For some reason you have also chosen the PRE chat forum to exclusively communicate your concerns, rather than on any other of the boards you regularly comment on.
It just so happens that today is the day that Pensana releases a particularly positive RNS communicating that the terms have been agreed for LJ project finance.
All a coincidence I'm sure.
4kandles - there is plenty of chat about this on another platform. Everyone got bored of the derampers and took their discussion elsewhere. If you are interested, get in touch with admin on the PRE Facebook page - they can direct you.