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(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.
SmartPunter - Enough is enough for gods sake , Your TROLLING for this thread is outside the reality of any normal behavior , You really need to seek mental medical help as a psychology study finds that internet trolls (people who engage in trolling) are more likely to have dark triad personality traits. Narcissism, Machiavellianism and psychopathy are the dark triad traits. A fourth trait that trolls often have is enjoying schadenfreude.
Hogsnipe - You can -mail Ndprpre-gmail-com for a link :)
From my below post -
Two major shareholders have engaged ongoing financial commitment to the project for the next 2 years
SmartPunter - Trolling response.
>>Pensana's future is now secured for at least the next two years
Annual report shows outgoings at ÂŁ20m a year and they already have 9m debt.
For any new readers on this BB SmartPunter has constantly been TROLLING this thread for his own personal interests , blatantly proven wrong on all occasions but continues on a daily basis , Therefore should be seen as no more than a serial pest TROLL.
Please DYOR.
Dumbpunter - You are a uneducated imbecile incapable of reading a RNS , This is not for you to read as you are a Moran that lacks any intelligence , But for others new to this thread.
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
Theorist- One more of your Greatest predication's , The whole thread is littered with them , You really excelled this time to the unassuming peddling your self interest motives , Shame on you , You really have no morals.
11 Apr 2023 12:05
So ten days ago the company says it has $200,000 in the bank. In October it said it had 120 engineers working on the project. Almost whatever scenario you look at the 10 day spend must exceed $200,000. 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. Sir!
Theorist - Good to see you posting again after your dismal and dyer predication's on Pensana have not happened the way you wanted, And alas, two major shareholders have engaged ongoing financial commitment to the project for the next 2 years , Maybe come back in 23.5 months and give us your next round of Theorist 's greatest predictions , As this one was appalling.
Theorist
Tomorrow, tomorrow, tomorrow.16 Apr 2023 20:30
My money would be that tomorrow is the day, finance or administration. That would be over two weeks since the company flagged the crisis. The $200,000 must have gone, wages have to be paid, I say it’s all over red rover.
You guys complaining about TROLLING - Your number 1 poster on this thread SmartPunter trolls PRE at least 3-5 times a day with negative and misleading garbage, its called Karma get use to it.
I just love the entrainment you provide dumb#unter. In the land downunder we enjoy a good laugh
Geez hope they haven’t lost their jobs
Valuation-it-is - And one must not forget , M&G, which is one of the UK’s leading investment institutions and Fundo Soberano de Angola “FSDEA”, the Angolan Sovereign Wealth Fund, remain strongly supportive of the Company and its business plan and have each requested the right to participate in any future equity or other fundraising on a pro-rata basis for the next two years.
Certainly does not sound like a salvage operation to me.
Tony - Looks like a bit of backtracking on your behalf , Just your point of view , So why such negative posts the last few days , You knew the company was addressing working capital and would be released to the market in due course , looks to me you were trying to create FUD.
Events have moved on since then. The London Evening news confirmed last night that the UK is not aligning with USA or EU on their plans to secure rare earth and other supplies and the policy of a free market operation is what they are currently retaining. As a consequence it leaves Pensana in a hopeless position. Policy has again destroyed a PA project along with material high grading by Chinese competitors which is the equivalent of what failed Leyshon for him years ago. The project is probably now a salvage operation.
SunDrum - His and his mates actions are deplorable , Worst type of human behavior , Despicable in fact , Tying to use deception and lies to forward there own self interests , Really if and when one could identify them , They will be hauled thru the courts for there actions.
Dumbpunter - You are a serial pest troll , Go back to your toxic waster dump were you belong.
Dumbpunter - ;iss off to your toxic waster dump were you belong.
Somebody’s buying