Member Info for SunDrum

Why now? What has prompted someone to try and buy £400k of shares now?

RareEarther - As first posts go you should be congratulated. A pretty good assessment of the last few months.

Classic Theo - FUD. Why should anyone believe a word you say?

Theo - if you own a British passport you aren't Greek. But you can still have a Greek name. At a guess you were brought up in London given you support Arsenal.

Theo - can you confirm if a commercial relationship between your employer and Less Common Metals exists? And just for the purposes of clarity moving forward, do you comment on here on behalf of your employer?

Here is an interesting article about VV Minerals and also one of LCM's Directors - https://www.thehindu.com/news/national/tamil-nadu/undisclosed-income-of-vv-minerals-adds-up-to-1825-crore/article25395859.ece
Makes for interesting reading.

Joe - That's the outfit. LCM share Directors with VV Minerals. Wonder if HMG know about this.

Theo - As far as I am aware PRE haven't suggested anything other than their application was approved and was now at the 2nd stage, and with the HMG Capital Grants team.
You might be right about PRE not being at the core of the UK's automotive transformation. In fact, if you read their recent annual report there is a lot in there that alludes to supplying REs across Europe and beyond (inc Japan and South Korea). When PRE chose the Humber over the Mersey they will have known LCM would source their REs from VV. Choosing a freeport is a statement of intent to export and suggests PRE have known for some time that that is their core market.
In terms of the ATF, PRE were told by HMG, when the application was accepted, there was ‘definite strategic alignment’ which suggests more than a 'long shot'. What strategy PRE are aligned with is the question here and it really doesn’t take a genius to work out.
Ultimately, whether PRE receives a grant no-one knows, including you. They might get one, they might not. Whilst it would be nice to receive one it is not critical. Time will tell.

Numbnut - your original post stated, "This is because stage 2 is 'acceptance of application'. Its meaningless."
Your latest post states, "I’ve looked there is no reference anywhere to stages except in documents produced by PRE"
Which is it? Is it possible you overestimate your knowledge and capabilities do you think?

It has been timed to coincide with COP26 Transport meetings next week. It is a tax payer funded sales pitch to HMG for them to give LCM more taxpayers cash to build a magnet factory. The feedstock is already sorted from a company called VV whom they share 2 Directors with. It was a closed shop before the 'feasibility study' was commissioned.
This report and the UK magnet factory is irrelevant to PRE as their core market is export. That is why they chose to build a processing plant in a freeport.

No Numbnut, I am not. PRE was at stage 2 of the process at the beginning of Sept. During stage 2 a decision is made by the Capital Grants team as to whether to award a grant and at what value. At the end of stage 2 provisional approval is achieved (or not). It then moves to stage 3 of the process and is passed over to the Treasury for final sign off (or not).

"No other company has been moved to stage 2.
This is because stage 2 is 'acceptance of application'.
Its meaningless."
Wrong.
Stage 1 - Application assessed
Stage 2 - HMG Capital Grants team - value of ATF decided (or not) and provisional approval.
Stage 3 - HMG Treasury - final approval.
Dunning Kruger effect again I'm afraid.

Muthurajan Jegadeesan is on the board of LCM. He also happens to be the Managing Partner of VV Minerals that source their rare earths from heavy mineral sand processing. This explains a lot.
Thankfully Pensana will have been aware of this months ago and it explains why HMG continues to engage with PRE re. the ATF. The LCM magnet factory and PRE should therefore be seen as mutually exclusive and HMG is looking at both for ATF funding. LCM as an integrated magnet manufacturer and PRE as a global supplier of NdPr.

If this is the case, why did HMG move Pensana to stage 2 of the ATF process as confirmed at the beginning of September? This report will have been seen by HMG a number of months earlier.
If getting hold of REE was as easy and as cheaply as the report suggests why are all western governments wetting the bed over the situation and analysts saying there is not a single scenario where supply will meet demand in the next decade?

Metal - It is posturing, pure and simple. LCM know they are in pole position to build a plant and want to minimise their risk.
When someone gives me a decent answer to my question with some substantive information to back their suggestion up, I might re-consider.

Charles - The same can be said for PRE as confirmed by the Chairman in the latest webinar.

Metal - So a company that has been paid to produce a feasibilty report on RE magnet manufacturing creates a document that positions itself as the prime candidate for government support to build one whilst blatantly attempting to drive down the cost of their raw materials. Come on, keep up.
Anyway, perhaps you can answer my question. Which company will provide rare earth raw materials in the UK at very low or zero cost, as demand and market rates continue to sky rocket?

10th November is when Transport is scheduled for at COP26. Everything seems to be lining up with that date in mind.

Excuse my ignorance but perhaps someone can help me out here. Ford are investing £230m to make 250k power units/annum in the UK from 2024 which means they have been assured by HMG the supply chain for permanent magnets will be in place by then. The LCM report supports this theory by presupposing a competitive supply of raw materials will have been established. The report also states the source of rare earths must be available at very low and ideally zero cost.
Which company will provide rare earth raw materials in the UK at very low or zero cost, as demand and market rates continue to sky rocket?

Theorist is Theo Theodorou and he works for Alfred H Knight. I have highlighted why he downramps in a previous post. Dumbpunter is another person. He is simply a common troll who has become the world's leading authority on REE mining, processing and financing in the last 11 months (see Dunning Kruger effect) and simply revels in negative feedback.