Member Info for TheGreekLizard

South Africa’s ambassador to Washington, Nomaindia Mfeketo, has been missing in action for more than two months through this crisis. She is on sick leave. And the view in Washington is that the delegation headed by National Security Advisor Sydney Mufamadi was hastily arranged, badly timed and did not get to meet the A team in DC.

But before anyone sees this as some kind of relief, be warned: the mood in Washington towards the South African government has soured.

The Republican response was predictable. Senator Jim Risch, the ranking member of the Senate Foreign Relations Committee, blamed the State Department for dropping Brigety in the soup and slammed the ANC’s “anti-American screeds”.

https://www.dailymaverick.co.za/article/2023-05-18-disaster-on-the-potomac-as-washington-sours-on-the-anc-with-agoa-and-pepfar-as-potential-collateral-damage/

U.S. Ties With South Africa Going South, and Fast

The U.S. ambassador to South Africa kicked up a diplomatic storm when he declared that the United States had intelligence that weapons were being covertly shipped from a South African port bound for Russia.

Pick one of three doors. The first scenario is that the U.S. intelligence is wrong. Current and former U.S. officials who have spoken to SitRep say that is highly unlikely, given Brigety’s reputation as a straight shooter who wouldn’t go out on such a far limb without serious evidence to back it up, but it’s hard to independently verify claims stemming from classified intelligence. And, of course, U.S. intelligence has gotten things wrong before.

Second, the South African government secretly and knowingly supplied weapons to Russia, brazenly defying Western sanctions and undercutting its supposedly neutral position on the war. Again, this is a charge that the South African government denies.

Third, the arms shipment was arranged without the government’s knowledge—a not unlikely possibility given the rampant levels of corruption and dysfunction gripping the South African government today. (One data point to consider: Viktor Vekselberg, a wealthy Russian oligarch close to Russian President Vladimir Putin who is under U.S. sanctions, is reportedly a major donor to South Africa’s ruling party.)

Things are getting tense. Even if there’s no answer yet to which of these three options is right, South Africa’s deepening relationship with Russia and continued stance on the war in Ukraine have drawn intense scrutiny in the West.

https://foreignpolicy.com/2023/05/18/a-south-african-scandal-could-shake-up-relations-with-washington/

The Company has established a direct relationship with the key Japanese magnet manufacturers and has entered into an MOU for 25% of Saltend’s annual production. It has ongoing discussions with Japanese trading houses with direct access to the Japanese automotive sector.

3. We will ensure diverse, resilient, and sustainable critical mineral supply chains needed for clean energy technologies. We will continue to collaborate both bilaterally and multilaterally, including through sharing information, improving environmental, social and governance (ESG) standards in critical mineral supply chains, and jointly upholding free trade and the wider rules based international order, as underpinning critical minerals supply chains.

https://www.gov.uk/government/publications/uk-japan-renewable-energy-partnership-joint-statement/joint-statement-between-ministry-of-economy-trade-and-industry-of-japan-and-department-for-energy-security-and-net-zero-of-the-united-kingdom-on-rene

Market Summary

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Rainbow Rare Earths Ltd

8.55 GBX

-11.70 (-57.78%)past 5 years

Market Summary

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Pensana PLC

27.90 GBX

+7.90 ( +39.50%)past 5 years

Tony - Far off any substantiated information, More the rambling of a anonymous wildly speculative keyboard warrior , Seams like to me you are looking for a trading entry targeting the uniformed.

Tony - Refer you to a published company report on the 3rd April which outlines the current engagements moving forward, if you have any substantiated information please feel free to share.

The Company has been engaged with three parties to provide the required funding; namely the previously announced US$175 million bond issue being arranged by ABG Sundal Collier, for which the Company has received green bond accreditation from CICERO rating agency, a $220 million strategic equity investor which is before its investment committee and a $150 million debt package being arranged by a South African bank.

Tony - Your doom and gloom you have being spuiking on the US debt ceiling is now but all done next week with bipartisan support , So maybe take that out of your equation, Secondly the Si may still be deliberating their position moving forward with timing , And thirdly the CICERO green bond might soon be executed as per the last company update, Would rather

access my information from published reports instead of reading wildly speculative unsubstantiated musing on the internet.

Tony - Really defies the purpose of having an independent sustainable supply chain decoupled from China, guessing you are easily defeated in Stategic planning with not having any foresight for the future, glad you are not in a position for security of supply for national interests.

More than $15bn worth of exports that sustain a critical part of South Africa’s manufacturing industry is on the line as Pretoria battles the fallout from a US accusation that it covertly supplied arms to Russia.

Even as Ramaphosa’s ruling African National Congress attacked the US for encroaching on its sovereignty, South African businesses were sounding the alarm over the country’s prized participation in the African Growth and Opportunity Act, a US law that grants duty-free terms to specific nations.

“The prospect of a loss of tariff-free access to US markets . . . is now a very real risk,” said Business Leadership South Africa, an industry group. “When our current eligibility is reviewed, we should expect that South Africa could fail the access test of not threatening US national security interests.” South Africa exported more than $15bn worth of goods to the US in 2021, according to the US commerce department.

South Africa’s reputation as a financial centre has already been knocked by its placement this year on an international “grey list” for falling behind on fighting financial crime.

“There’s evidence that the ANC is benefiting from its relationship with Russia from a financial perspective . . . but they’re doing this at the cost of the economy,” said Leoka, the South African economist.

And yet South Africa has allowed US discontent to simmer for months, not just over whether the country’s official non-alignment in the Ukraine war has concealed covert aid to Russia, but also a lack of co-operation on anti-terrorism efforts, to the ANC going cold on US offers of financing a green transition

https://www.ft.com/content/b94efa11-21af-420b-80be-653bc4e03884

The blackouts and the deteriorating economic outlook have weighed on investor sentiment, with the rand dropping 12% this year — the worst performance among major currencies monitored by Bloomberg. The decline is also at odds with emerging-market peers, which have largely made strides against the US currency this year.

The rand fell as much as 1.3% to a record low on a closing basis, and traded 1% lower at 19.4409 per dollar by 11:32 a.m. in Johannesburg. The yield on South Africa’s generic 10-year government bond was little changed at 12.1%.

“Things are still looking rather gloomy for South Africa, with news headlines being centered around intensifying load-shedding,” analysts at Rand Merchant Bank said in a client note.

https://www.bnnbloomberg.ca/eskom-warns-south-africa-faces-record-power-cuts-this-winter-1.1921801

Chancellor says ‘watch this space’ on increasing supply side for electric vehicle manufacturing in UK

Jeremy Hunt has hinted that a deal could be imminent between the Government and Tata Jaguar Land Rover (JLR) over the development of a new battery factory in Somerset.

Negotiations are ongoing between the Indian-owned car manufacturer and the Department for Business and Trade over a new gigafactory, which would supply car batteries for electric vehicles (EV).

But the Chancellor suggested on Wednesday that an agreement could soon be struck that would drastically increase UK capacity in the supply of batteries for EVs.

https://inews.co.uk/news/politics/jaguar-landrover-battery-gigafactory-deal-jeremy-hunt-job-loss-warnings-2347523

Lord Johnson of Lainston (Con) - Hansard -

- - Excerpts

As I have expressed, the importance of investing in this area remains paramount. We have the automotive transformation fund, which is over £850 million, and the Faraday challenge. I have listed some other important aspects that the Government are focusing on. This has led to important investment, including into Pensana, Jaguar Land Rover, Mahindra & Mahindra, Motherson Group, TVS and the Hinduja Group, and a whole new range of investments into hydrogen-powered buses, which is a great success flag for Northern Ireland.

https://www.parallelparliament.co.uk/lord/lord-leong/debate/2023-05-15/lords/lords-chamber/automotive-manufacturing-sector-support

Tony - Updated 3rd of April , You certainly understand the working dynamics putting the funding package together and market difficulties over the last 6 months , But one thing is for sure , The Major Shareholders would not be throwing good money in on a wing and a prayer ,

We just wait until funding is forthcoming and follow the major Shareholders

The Company has been engaged with three parties to provide the required funding; namely the previously announced US$175 million bond issue being arranged by ABG Sundal Collier, for which the Company has received green bond accreditation from CICERO rating agency, a $220 million strategic equity investor which is before its investment committee and a $150 million debt package being arranged by a South African bank.

Tony - Once again spreading unsubstantiated fear, Any future equity or other fund raising undertaken by the Company on a pro rata basis for the next two years.

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.

(Bloomberg) -- The rand slumped to its weakest level on record against the dollar and government bond yields soared amid investor concern a diplomatic row between Pretoria and the US may put trade worth billions of dollars to South Africa at risk.

South Africa’s preferential access to US markets under a two-decade-old agreement is in focus after the US ambassador to Pretoria, Reuben Brigety, accused the country of supplying arms to Russia. The nation’s Presidency described the comments as “disappointing,” adding that no evidence had been produced to back up the claim, but that the countries had agreed on an independent investigation.

“The rand hitting a record low versus the dollar clearly highlights that investors have lost confidence in domestic policy makers in South Africa and are fearful that the US will impose sanctions,” said Lee Hardman, a currency strategist at MUFG Bank Ltd.

https://www.bnnbloomberg.ca/rand-extends-slump-as-south-africa-s-row-with-us-puts-trade-ties-at-risk-1.1919302

Hi Tony

Futures market are up . I guess it has a totally different interpretation.

Dow Futures

33,462.00

+ 91.00

0.27%

33,361.98

+ 100.02

S&P 500 Futures

4,154.00

+ 10.25

0.25%

4,143.85

+ 10.15

NASDAQ Futures

13,465.25

+ 18.75

0.14%

Hi Tony - Interesting you are posting doom and gloom on PRE and on no other threads on shares you hold , The US debt ceiling has been reached 74 times in the past , And will be raised before the due date , Just political tit for tat by apposing politicians.

Eloro - So i take it you retract your statement that PRE will be lucky to be around by the end of year , But you now add your personal negative sentiment as having no financial interest in PRE , Or propitiatory insight into M&G or the ASWF.

So one wonders why would you spend your time doing this anonymously , You obsessively have a ulterior motive at play that suites your own agenda, As you do this continually and add nothing productive to this BB , On filter for you.

Eloro - Your consent negative remarks is completely non founded again as normal , You are obviously incapable of reading the latest RNS , So i will post for you to understand before making such a misleading comment again.

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.