Member Info for TheGreekLizard

Https://www.economist.com/middle-east-and-africa/2023/05/22/business-leaders-fear-that-south-africa-risks-becoming-a-failed-state

Https://businesstech.co.za/news/government/677281/south-africa-is-running-out-of-time-2/#:~:text=Speaking%20to%20the%20City%20Press,the%20government%20loses%20all%20control.

Https://furtherafrica.com/2023/06/12/south-africa-regional-trade-on-the-verge-of-collapse/amp/

Theo - Exactly what I thought you are , a gutless

anonymous keyboard warrior, and a bankrupt to boot .

Pffffff.

theo - why do you not come out with a real analyst statement proclaiming that atherley and the pre board are a pack of liars and fraudsters , instead of *****footing around with gilded the lilly comments , either put up or shut up for the record.

Chairman backing up for more.

https://www.londonstockexchange.com/news-article/PRE/directors-dealings/16062052

Crisis point

Losing access to AGOA would be a bitter blow for South Africa’s already struggling economy.

Not counting oil exports, South Africa is the biggest beneficiary from the 23-year-old program, exporting $2.7bn worth of goods in 2021, according to the US Commerce Department. The country also exports the widest array of products under AGOA, “ranging from passenger vehicles to citrus products, yachts, and frozen sorbets”.

https://www.theafricareport.com/312564/us-threatens-south-africa-with-loss-of-trade-privileges-over-russia-ties/?gclid=EAIaIQobChMIjPG-ucqmgAMVitAWBR1ABAx_EAMYASAAEgLZePD_BwE

All the signs are there for us to see that South Africa is on its trajectory toward being a failed state. At the moment, the country’s economic and political system is poorly performing. Hence, we will soon be living in what we call a failed state.

We are on a trajectory toward a failed state. We are being plunged into darkness by a failing power utility, Eskom. The trains are no longer working because somebody somewhere did not do their job. Our roads are not maintained sufficiently, and new roads are not built to create interconnection between communities. Our education system is in a sorry state. Politicians are stealing from the poor with impunity.

https://www.iol.co.za/the-star/opinion-analysis/sa-is-a-failed-state-b39e35cf-6c86-4ecd-bf6b-be27f1c193ca

Founder and Executive Chairman of Sygnia, Magda Wierzycka, says that warnings of South Africa becoming a failed state are lagging reality – we are already there.

“In my view, we are a failed state. We became a failed state a while back, and I don’t think there is anything on the horizon that will change that in the near future,” she said.

According to Wierzycka, the reason for this view is that South Africa’s municipalities are failing, and many have already failed – and municipalities are the core of the country and the backbone of the government.

https://businesstech.co.za/news/business-opinion/684085/south-africa-is-already-a-failed-state/

The fact is the poor are indeed getting poorer, and the rich just leave. It was rumoured last week, by certain financial institutions they saw huge exiting of our capital.

To top it all, we are now, as a country, grey listed. We join a rather shocking esteemed group of countries, which are also grey listed and seen as the gutter of fiscal controlled nations. These include Nigeria, DRC, Haiti and South Sudan.

With huge collapses in infrastructure, joblessness, power cuts, corruption and crime, the huge question is, when do we, as a country, reach DAY ZERO?

https://www.iol.co.za/business-report/economy/south-africas-day-zero-is-coming-67832c1e-6f1e-4a80-8785-c34e6f150306

Pensana Plc (LSE: PRE) advises that on 13 July 2023 and 14 July 2023, Paul Atherley purchased 90,000 Pensana ordinary shares at a price of £0.161425 and 120,573 Pensana ordinary shares at a price of £0.164875 respectively. Accordingly, Paul Atherley now holds a total of 13,638,471 ordinary shares in Pensana, representing 4.78% of the Company's issued share capital.

When cyril ramaphosa became South Africa’s president in 2018, business leaders were ecstatic. Here was one of their own: a pragmatic tycoon to fix the incompetent kleptocracy of Jacob Zuma. Yet five years on, bosses of large businesses are exasperated. ceos from several different industries—such as Neal Froneman of Sibanye-Stillwater, a mining company; Daniel Mminele, the incoming chair of Nedbank; and Ralph Mupita, of mtn, a telecoms firm—have sounded the alarm. Could South Africa become a failed state?

https://www.economist.com/middle-east-and-africa/2023/05/22/business-leaders-fear-that-south-africa-risks-becoming-a-failed-state

It appears the short selling over , the update provided to SHs by Paul Atherley the Chairman posted on this forum about the unwinding and deleveraging by an alleged distressed seller of 7m shares was overstated both in the amount potentially being closed out on and the time frame of 14 days claimed to cover outstanding positions !

However, on a positive note, his comments concerning the funding of the Longonjo mine with Angolan Government support and the emphasis of the offtake agreement to the largest magnet manufacturer in Asia outside of China, is 100% the sort of update he should have released after the misjudged March , announcement.

About Pensana when compared to other fledgling hopefuls who have capex in billions of dollars, I would add that both the Saltend Refinery and the Longonjo Mine are 'plug & play' with half a billion capex, a clear path to funding for $200m at Longonjo, thus fulfilling offtake and feeder product to Saltend. Support of Governments of the UK & Angola to facilitate 'plug & play' being the envy of others mining and refining aspirants, Lynas included, as stated by Lynas's Chairwoman and reported in the Australian Financial Press.

I would image the recent considerable uptick in volume and share price is the prelude to some keen buying by institutions.

Pensana share price is about to catapult, especially when the sunstruck bankers' holidaying is over in Spain & Portugal and there is only crumbs left in the free float, not already snaffled up from loose hands!

Now is the time to buy, he who hesitates will miss the boat!

Good luck to long term holders will be a great Christmas £ / $ !!!

South Africa is on the brink of collapse. After years of corruption, mismanagement and poor investment, the fruits of the once-promising country have turned rancid. As the country’s leaders grapple with the impending disaster on their hands, tensions are boiling over. On January 10, Tito Mboweni, the finance minister, launched a series of tweets underscoring the gravity of the situation: “If you cannot effect deep structural economic reforms, then game over! Stay as you are and you are downgraded to Junck [sic] Status!! The consequences are dire. Your choice.”

This will force fund managers with investment-grade mandates to dump their South African assets and make others rethink their own positions in the country, worsening already high investment outflows from the country.

https://www.thenationalnews.com/opinion/comment/south-africa-s-leaders-are-facing-impending-disaster-1.963586#:~:text=Over%20a%20decade%20of%20worsening,to%20be%20the%20root%20cause&text=South%20Africa%20is%20on%20the,promising%20country%20have%20turned%20rancid.

UPDATED17:53, 14 JUL 2023

Humber Freeport has launched with a mission to drive hundreds of millions of pounds of investment and deliver 7,000 new jobs.

Now open for business, it is described as providing an internationally recognised environment for trade, stimulating economic growth, development and skills in established and emerging industries. Huge opportunities to build on the region’s fast-growing renewable energy industries and the decarbonisation agenda have been highlighted, as well as the potential for investment in the chemicals, logistics, advanced manufacturing and technology sectors.

Humber Freeport will build on significant ongoing investment in the region, including Pensana’s £150 million rare earth metals processing plant,

https://www.business-live.co.uk/economic-development/humber-freeport-opens-business-ambition-27325732?int_source=amp_continue_reading&int_medium=amp&int_campaign=continue_reading_button#amp-readmore-target

Eloro - Their is no place for you on this board as you have being seen for what you are , A rasist despicable pig , Why don't you remove yourself , As there is no place on this public forum for your bigotry behavior.

Major shareholders to increase holdings in the Company

28 April 2023

M&G, which is one of the UK’s leading investment institutions and Fundo Soberano de Angola (“FSDEA”), which is the Angolan Sovereign Wealth Fund, remain strongly supportive of the Company and its business plan and have each requested and been granted the right to participate in any future equity or other fund raising undertaken by the Company on a pro rata basis for the next two years.

https://www.londonstockexchange.com/news-article/PRE/major-shareholders-to-increase-holdings-in-the-company/15936563

Update on Longonjo Financing and Development

28 June 2023

Major shareholder FSDEA to provide an immediate US$15 million loan facility as part of a broader US$80 million investment (subject to due diligence and the finalisation of investment terms) to facilitate the development of the mine and to provide the equity component for the proposed project debt facility.

https://www.londonstockexchange.com/news-article/PRE/update-on-longonjo-financing-and-development/16016943

Eloro - You are a pig and the lowest form of humanity that has staged this presences in a public forum , Your remarks are disgusting towards the host nation of Angola and there people that what to diversify from oil for the future benefit of their people , Personally i take your comments as totally disrespectful and despicable towards the people of Angola , You should be ashamed of yourself you inbreed repulsive pig.

According to monthly surveys conducted in 2022 and 2023, the share of the respondents in South Africa worried about financial and political corruption in the country was one of the highest among the countries taking part in the online study. In June 2023, 58 percent of the South African respondents were worried about financial and political corruption. During the period under review, the share of participants concerned about financial and political corruption peaked in February 2023 at 59 percent.

https://www.statista.com/statistics/1266540/share-of-south-africans-worried-about-financial-and-political-corruption/

South Africans are simply not angry enough, protesting enough and shaming the ANC government and leaders enough for their corruption, state failure and decay.

Mediocrity, incompetence and callousness by government and elected leaders are now accepted as commonplace. They do not elicit the requisite national uproar. These ills are now collectively resignedly accepted as normal, acceptable and the way things are and will be.

The cherished belief that South Africans will rise up against government callousness is a myth. Former ANC and South African President Jacob Zuma was tolerated in government for nine wasted years – in spite of the systemic corruption, state failure and lawlessness under his watch, and which impact will take the country years to recover from.

In South Africa, there appears to be an acceptance that corruption, incompetent and state failure is the identity of South Africa. Paradoxically there is often a celebration if public services are just being delivered, no matter how tardy, mediocre, and inconsistent. Crime is runaway, power outages are now permanent and infrastructure have collapsed across the country.

https://www.wits.ac.za/news/latest-news/opinion/2023/2023-03/the-soul-of-south-africa-corrupt-to-the-core.html