Member Info for TheGreekLizard

LUANDA, Angola, July 4, 2024/APO Group/ -- African Development Bank (www.AfDB.org) Vice-President for Regional delivery, Integration and Business Delivery, Marie-Laure Akin-Olugbade has completed a mission to Angola in which she held several strategic, high-level dialogue sessions with authorities of the country. The talks provided the foundation for the implementation of the Bank’s new 2024-2029 Country Strategy Paper.

The vice-president met with senior government officials, including the Minister of Planning and governor of the Bank Victor Hugo Guilherme, the Minister of Finance and alternate governor, and representatives from sector ministries including the Energy and Water, Transport and Agriculture, as well as the Sovereign Wealth Fund. She was also received at the Presidency of the Republic by the Minister of State for Economic Coordination, José de Lima Massano.

https://afdb.africa-newsroom.com/press/angola-african-development-bank-vice-president-akinolugbade-on-mission-to-boost-development-impact?lang=en

Zig when others zag AS1971, this is what separates the boys from the men :)

China we have two Nostradamus’ not just one, how lucky we are. Theo put all his mates on HZM and the other professional married to an influencer said PRE would long gone by now. Quite the trading professionals with that high level of credibility, should start a consultancy firm

You have the energy / motivation to keep posting the same old predictions. July 2023 you stated “this will be all over in a matter of weeks”. A year later you are still predicting the same :). You might need a new crystal ball

“Angola and the United States are aligned on all the major points related to energy access, energy security, decarbonization, and critical minerals,” US Assistant Secretary of State for Energy Resources Geoffrey Pyatt said at an online media briefing Tuesday.

The southern African nation, one of the top crude producers on the continent, has become a focus for the US in its campaign to secure critical minerals such as copper as it competes against China. The US Export-Import Bank has earmarked billions of dollars in clean-energy projects to bolster capacity in the country that plans to sell excess electricity across the region.

Pyatt last week visited the capital, Luanda, and met with the nation’s oil and energy ministers. The officials discussed the construction of transmission and grid interconnection infrastructure needed for Angola to become “a larger energy exporter to the rest of sub-Saharan Africa,” he said, according to a transcript of the remarks.

Ex-Im closed a $900 million loan for solar farms in Angola built by US developer Sun Africa, “which is committed to using non-Chinese components,” according to Pyatt. The bank’s board referred to Congress for notification a $1.6 billion project with the same developer to construct mini-grids and clean water projects across the country.

Angola is also interested in developing downstream processing infrastructure for critical minerals, he said, adding that the US-backed Minerals Security Partnership Forum brings producers and customers to find potential financing opportunities from the US, European Union and others, to realize such projects.

https://www.bnnbloomberg.ca/us-backs-angola-plan-to-process-critical-minerals-export-power-1.2087054?fbclid=IwZXh0bgNhZW0CMTEAAR31fYhmMF9nwM7QBT4BVJUG2r1WnXZfdXxLhbbHhk1vcFZtwm-S_PRvFTU_aem_ZmFrZWR1bW15MTZieXRlcw

The United States will support Angola, one of the largest oil producers in Africa, in its efforts to establish a critical minerals processing industry as a way to diversify from oil.

“We are fully aligned on these issues around decarbonization, energy transition, and climate, and we look forward to building on that partnership in the future,” US Assistant Secretary of State for Energy Resources Geoffrey Pyatt said during a press briefing about the U.S.-Angola Energy Security Dialogue.

Pyatt was on a visit to Angola as the U.S. and the West looked to counter the Chinese influence in many African countries rich in critical minerals.

“Angola is interested in moving up the processing value chain, a goal that fully aligns with the Biden administration’s vision and the work that my team has been leading under the Minerals Security Partnership.”

The U.S.-led Minerals Security Partnership (MSP) considers projects along the full clean energy value chain, from mining, extraction, and secondary recovery, to processing and refining, and ultimately to recycling. It is aimed at diversifying and stabilizing global supply chains and investing in those supply chains.

Angola is interested in exploring the opportunities under the MSP Forum, for Angola to be part of the dialogue between critical mineral producers and critical minerals offtakers, as well as seeking sources of funding for projects, Pyatt said.

https://oilprice.com/Latest-Energy-News/World-News/US-Supports-Angola-to-Process-Critical-Minerals.html

Highly experienced Luigi Bruni has been appointed Construction Manager for site team at Longonjo. Luigi brings a wealth of practical experience to the project having served as Construction Manager for 15 international mining and oil & gas projects over the past 20 years.

The containerised 350 person accommodation facilities arrived in Angola having been transported from South Africa via sea, rail and road. The multiple logistics routes for transporting containers to site have now successfully been confirmed ahead of transport of the modular processing plant.

Tim George Pensana CEO commented “Construction management and logistics are both key elements to the successful delivery of the Longonjo project. Luigi’s appointment and the successful testing of the transport logistics are important steps to pave the way for the main construction.”

The accommodation facilities have been supplied by South African company Bushtec, specialists in global turnkey deployable mining camps.

The facilities include accommodation,  dining and a communications hub - all designed to international standards providing a comfortable safe working environment for employees and contractors.

Progress continues at the site with the establishment of the contractor’s 4.3 hectare lay down area located to the south of the main construction area.

The team has also continued further enhancements to the site road network and service utilities. The primary access road has been complimented with the installation of concrete storm water drains essential to ensure continued operation during the rainy season.

On June 13 in Luanda, Assistant Secretary Pyatt will open the ESD with Minister of Mineral Resources, Oil and Gas, Angola Diamantino Pedro Azevedo and Minister for Energy and Water João Baptista Borges, the heads of the Angolan delegation. Their conversations will cover Angola’s energy security, energy transition, and decarbonization goals, including critical minerals, and supporting Angola’s ambitions for increased energy access and power generation.

This dialogue reflects the United States’ and Angola’s deep historical cooperation on energy issues, bolstered by $900 million in U.S. clean energy investment finalized at the U.S.-Africa Business Summit in Dallas, Texas, and builds on high-level travel to Angola by Secretary Antony Blinken, Secretary of Defense Lloyd Austin, USAID Administrator Samantha Power, Deputy Secretary of State Richard Verma, and EXIM Chair Reta Jo Lewis.

https://www.state.gov/assistant-secretary-geoffrey-r-pyatts-travel-to-germany-and-angola/

Aagent's. Theroirt - Let’s hypothesize your grounds are litigious and look forward to litigious advents ,

Lewis - Very litigious statement without real grounds , Hope you are ready to engage in what follows.

Weren’t we meant to be insolvent by March 2024 :), I haven’t checked lately how is HZM travelling, the one you tipped to be multiple bagger? You should be retired by now

Lewis - Your criticism is only based towards yourself in your own echo chamber , Maybe time to move on as a non holder , As you are repeating yourself daily , which is , quite Frankly nauseous to others.

We are all big boys here and understand the risk moving forward , and do not need your repetitive commentary from the sidelines , regurgitated on a daily basis , as having no financial interest with nothing constructive to offer to genuine long term holders.

Managed to have Chat with the management this week. Almost Everything is tied up, "including" the Offtaker and ABSA having provided sufficient comfort to each other to go ahead with the loan (with some CP’s accepted).

All stakeholders, the FSDEA, PAD-B (Pan African development bank) ABSA and the Off-taker are in alignment, For the Equity piece the PAD-B and FSDEA are both ready to go. One stakeholder, (the export credit agency) is being careful, so taking a little more time.

Otherwise, all others are signed off. There will be no announcement until “EVERYTHING is signed off”.

Would not be drawn on time lines, but assurances that the PRE and Ozango management teams, together with ABSA are providing all the support and info that the agency is requesting in order they can finish their work ASAP.

Drawdown on finance facilities have remained unchanged from previous advice, with equity piece first, and the loan being accessed beginning 2025.

There is $4.5 million USD left of the 15 million loan. Other than the afore mentioned agency, all other stakeholders just about signed off. Said to ready to go within the very near future if all issues with all stakeholders are landed.

The construction camp is currently in the Port of Luanda, awaiting transportations to the site.

The British government hopes that other companies will follow in the footsteps of the Pensana mining group, which is building Angola's first rare earth mine through one of its subsidiaries. [...]

https://www.africaintelligence.com/southern-africa-and-islands/2024/05/23/lobito-corridor-rare-earths-capture-london-s-interest%2C110229534-art?cxt=PUB&utm_source=AIA&utm_medium=email&utm_campaign=AUTO_EDIT_SOM_PROS&did=109735402

The composite laterite sample graded 8.4% TREO (total rare earth oxide) with 80% comprising magnetic iron and manganese oxides and 10% REE (rare earth element) rich monazite.

· Magnetic and gravity separation test work has been commissioned with the target of producing a 50% TREO concentrate suitable for treatment at Longonjo.

"'These early results indicate the potential for low-cost physical beneficiation of the Sulima West ore at site, feeding the Longonjo processing plant with a high-grade rare earth concentrate."

Given the amount of preparatory work, headworks, etc which has been detailed by the company and there being ample free cash on hand, obviously, the Board is comfortable with the current state of affairs, knowing the ASWF has pledged support in the form of a $15m loan, additional equity and is part of the debt funding syndicate.

I believe those who have spoken to PA have been told that the share price is not where management expects it to be.

Obviously, the Board has every confidence that the ASWF will fund the project's ongoing construction until the debt funding is finalised later this year, when needed, as per the construction timeline.

Those who have questioned management have been told that the debt funding will fall into place when needed and, importantly, it is anticipated that

offtake pricing will be with an ESG premium and done at a time when ndpr prices are trending higher, up 30% on recent lows, which will invariably

move the share price, with better economics to support the debt funding.

With all this war mongering and the need to replenish and build armaments apart from general industry, we all are aware, especially with the Uk Government’s recent upgrading of economic forecasts for the UK, the Government will be very keen to secure the vital ndpr refining at Saltend.

The company is in talks with both the UK & US Governments!

The future for Pensana is assured, in my opinion.

As to the share price, I am expecting the market makers to sell their recently acquire cheap shares into the announcement, so arm up, and buy on the opportunity while the shares are at a 5 year low IMO , knowing the market makers (MM) will be shaking the tree, frustrating the MM’s by buying, will send a clear message and they will likely change strategy and move to accelerate an upward trend when a higher share price will be surely be long overdue!

As far as the construction timeline requirements go, only $5m is said to be needed for May, the larger requirement for June’s construction payment would suggest that May / June for FSDEA equity piece to fall into place to keep abreast of the published timeframe, seems viable to me.

There appears to be no need to take the equity piece until the funds are needed and closer to when, I assume, the debt funding terms sheet becomes binding.

Lewis you have been know to raise some good reasons why shareholders should feel timely announcements have not been forthcoming, having said that, the company has detailed to the market a construction timeline, where earthworks are progressing into May and are funded by the $15m provided by the FSDEA / ASWF. The timeline details that civil works will commence in May, with an additional cost expenditure of $5m forecasted for May. Also, detailed is that the accommodation block is in modular form and will be dispatched from South Africa, so obviously, you should not be troubled by the fact that construction of buildings on site is not happening. Given the amount of preparatory work, headworks, etc which has been detailed and there being ample free cash on hand obviously, the Board is comfortable with the current state of affairs, knowing the ASWF has pledged support in the form of equity and is part of the debt funding syndicate. I would agree, that the share price is not reflective of the true value of the company notwithstanding that the Board has every confidence that the ASWF will fund the projects ongoing construction until the debt funding is finalized later this year, when needed, as per the construction timeline.

Https://pensana.co.uk/longonjo-team/

(Bloomberg) -- Commodities will advance this year as central banks in the US and Europe move to reduce interest rates, helping to support industrial and consumer demand, according to Goldman Sachs Group Inc.

Raw materials may return 15% over 2024 as borrowing costs come down, manufacturing recovers, and geopolitical risks persist, analysts including Samantha Dart and Daan Struyven said in a March 24 note. Copper, aluminum, gold and oil products may climb, according to the bank, which also stressed the need for investors to be selective as gains wouldn’t be universal.

Commodities have made a modest advance in the first quarter, with crude strengthening, gold hitting a record, and copper topping $9,000 a ton. Policymakers at both the US Federal Reserve and European Central Bank have signaled their intention to reduce borrowing costs this year as inflation ebbs. In addition, China has flagged further support for its recovery.

“We find that US rate cuts in non-recessionary environments lead to higher commodity prices, with the biggest boost to metals (copper and gold in particular), followed by crude oil,” the analysts said. “Importantly, the positive impact on prices tends to increase with time, as the growth impulse from looser financial conditions filters through.”

Goldman’s cautiously bullish outlook echoes comments from other market watchers. Commodities are entering a fresh cyclical upswing aided by tighter supplies and an upturn in the global economy, Macquarie Group Ltd. said earlier this month. Jeff Currie, formerly the head of commodities research at Goldman and now at Carlyle Group LP, has also forecast gains as the Fed cuts rates. Elsewhere, JPMorgan Chase & Co. highlighted gold’s upside potential.

https://www.bnnbloomberg.ca/goldman-says-commodities-to-benefit-as-central-banks-cut-rates-1.2051105

Might take your advice and invest in HZM according to you that was a sure thing wasn’t it?