Member Info for SunDrum

Source: RNS. Don't be lazy.

P.s. The document does exist and the figure is $3943.40.

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.

Theo - the same wording was in the Chairman's AGM presentation on 1st December 2023 which was communicated in an RNS.

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.

Pancake day?

Skulker - What was the Proactive Investors interview he did last Friday, or the webinar the week before, or the ALK interview he gave this week? Scotch mist?

Lol. Recommend a read of DiscoDog's comment history.

Fair enough. Accepted.

Theo - Temper, temper.

You wrote, ' I do not recall ever saying anything about administrators.'

I consequently pointed out the fact that you wrote about administrators on 6 separate occasions. As you're dishing out labels, what does that make you?

theorist - you say you can't recollect saying anything about administrators. what a load of bull****!!!

you wrote on the following dates and times;

31 mar 2023 17:08

i would expect the company to collapse into administration this weekend.

31 mar 2023 18:13

if the company is not solvent the directors have to call in administrators.

2 apr 2023 14:17

if, come tomorrow, the board has been unable to secure a lifeline they have to call in the administrators. 

2 apr 2023 18:26

if they don’t call in the administrators this weekend or very early next that could only be because they have secured funding, even if that’s just 5 or 10m.

11 apr 2023 13:05

i cannot see the company going beyond friday without either announcing finance or administration. looking at the sp the needle seems to be swinging towards administration. 

16 apr 2023 21:30

my money would be that tomorrow is the day, finance or administration.

Tony - the difficulty with that as I understand it is, the due diligence is mandated by the bank, not the company. As such, it is likely to be confidential and for the lenders use only.

It is fair to say that in the absence of information to the contrary (which would have a material effect on the SP) and the company has stated completion of finance is in the next few weeks, it would be fair to assume that due diligence has been completed successfully.

The font of all knowledge that is Theorist? The same Theorist that firmly lost his shirt on HZM? The same Theorist that pursues a decades long, petty vendetta against Paul Atherley? The same Theorist that has predicted specific outcomes on numerous occasions with regard to Pensana and got them spectacularly wrong every time?

What could possibly go wrong listening to him?

Theo - What's it like having Paul Atherley living rent free in your head after all these years? Your fragile, bruised ego can't let it go can it?