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Astonishingly thick post China. Where do you find this drivel?? As soon as the share price starts falling you assume it’s my boss, comrade xi, a Chicom conspiracy, a coven of gamblers one of whom will become a patsy, blah blah blah. Of course the sp could be falling because, surprise, no finance, the Mou with who, running out of cash, another round of directors bonuses due, not a teaspoonful of ndpr in sight. But don’t let the detail bother you!

China old boy, can you give me any example of a company announcing an MOU but not stating who the MOU is with??? I bet you can’t because what could be a more pointless announcement?

So let’s try and answer the question why Pensana’s MOU partner wished to remain anonymous. First we can acknowledge this is very unusual. Companies don’t normally announce they have reached an agreement in principle to sell something to someone. Because obviously it’s a waste of time. So why did the company do it? My guess this was a smokescreen announcement. A bit like some random release of drilling results. It attracts attention away from the main issue. The only issue. Financing. Or lack of. Sound and noise signifying nothing. No way to run a plc.

Nice to hear from you Mumbles, ps is the concierge a good address? Brave of you to add to your holding, nothing about this adds up to me. Only consolation is that it doesn’t really matter where you had invested, pretty much everything has been trashed. And worse still everything still heading south. I genuinely believe that within the next six months we will see Pensana in the 20’s. It’s not downramping, I couldn’t give a fig what happens, I just think this is one that will miss the boat or rather has missed the boat. If they haven’t got finance in the last 12 months they’ll never get it. iMO. They should have stuck to the basics. If I were you I would double down, sell your entire holding and bet the house on HZM. And no, I don’t own any of them either!!

And so we approach the end of another month with no finance in sight. The share price gets a nice boost from news that the company has reached an understanding with an unnamed company to sell an unknown quantity of material from a mine yet to be developed. Liquid silver has largely vaporised having posted extraordinary details about his chats with darling Paul. SirMark, having bored everybody for months on advfn, has migrated to Lse. Volumes of c**p have ensued. Robbie, Tony and China are besides themselves with excitement. The finance that wasn’t announced in July, August and September is imminent. The reptile, mumbles and Dao are keeping a low profile having bet on finance by the end of July. I don’t think there will be any financing this year. Anyone want this bet??

Hogsnipe. I don’t believe that this is a fake or bogus operation. I do think that the company sails close to the wind. For example I find it baffling they could announce Great Wall or the Norwegians then nothing. No announcement to say the deal has cratered or been delayed. No announcement about the abandonment of Saltend 1. No announcement to warn shareholders that timetables have slipped. I don’t think I have ever seen poorer communication. What I do think is that this is a very lightweight team. I have said a million times that PA doesn’t have what it takes. I also believe that the industry has doubts about the validity of some of the information published. PA cannot help himself, he has to gild everything and it just comes across so amateur. And now every financial institution has been shown the Pre term sheet and of course very one wonders why everyone else has rejected it. It’s no wonder that against this backdrop the sp is sliding. It will go into the 30’s there’s nothing that can stop that. And soon some of the big shareholders are going to lose patience and break ranks, there’s only so much of this they can take. Obviously for the beneficiaries of the last two placements this is already looking a disaster. So yes a lot of leg work has been done but it has been poorly directed and led. I still think there is massive significance in the departure of Hohnen and Maclachlan. These were long term buddies of PA. PA and Maclachlan worked together at HSBC back in the mid 1980’s. But these two guys walked on the same day, not a squeak out of them or the company. Something is definitely not quite right. I don’t give a fig about the abuse I get, I am not a shorter or a Chinaman. This is my interest and my hobby. It will be interesting to see who has called this right.

Tony, you speak good sense. In theory Pensana ticks a lot of boxes, especially from a macro point of view. My view is that they have gone about this in totally the wrong way. I think they should have focussed on developing the mine, conventional bfs and offtake agreements, all the data generated by independents. Saltend a down the track possibility. Cut all the bxxxhit mine to magnet, rule the world, doctored cv’s, outlandish claims, stuff that makes them a laughing stock within the industry. Get rid of PA, they’ve tried that and it has failed, new leadership required. As for the Uk economy I think we’re doomed. Government has their foot on the accelerator, Bank of England has theirs on the brake, tax cuts swallowed by higher mortgage payments and rent for most. Plans for growth thwarted by exceptional labour shortages, 160,000 vacancies in the NHS alone. Brexit and COVID has shrunk the labour supply, now Poles and Romanians have tasted the good life in Germany why come to the UK, unaffordable housing, take home value of the pound falling, real value of earnings plummeting. Why drive a lorry in the uK with shocking facilities and working conditions? On the continent you are king of the road. Desperate times.

Sundrum you forgot to point out to newcomers that I have accurately predicted the share price falls and that anyone who took heed of my warnings would have avoided losses of around 65%. I remain convinced that the present management team will be unable to raise finance for either the mine or the Saltend fantasy other than on terms so punitive that they will further decimate the sp.

Got it China, the Government shaved 75% off the share price.

It sounds to me Tony that you are starting to realise that Pensana may have reached the end of the road with this project and that it is time to hand it on to a miner with greater skill and deeper pockets. Unfortunately any theoretical value you may seek to place on the shares is going to be a ceiling not a floor. Unless the situation deteriorates further the most you can realistically hope for is a small premium over the current sp. That won’t take you to 80p. Plus the way things are going we will certainly be sub 40p. The outcome could well be a Sirius Minerals.

Panic over! In fact panic never even started!

Good afternoon Reptile, nice you have slithered out to enjoy some late sunshine! Just one question for you, don’t worry, it’s not a brain teaser, has the company announced the receipt of funding from the ATF?

China. PA at Berkeley. He said some real crackers there didn’t he? Announced concrete pours, letters of intent for offtake, announced the mine “would supply 10% of the continents needs” etc etc biggest best cheapest all the Pensana garbage but with a different name, go back Google his Berkeley interviews, which themselves were copies of Murchison and Leyshon interviews, he says the same thing just changes the name and a lot of mugs fall for it. You claim there are 20 people in the world who have made a profit investing in PA, that would probably be correct, but unfortunately 25,000 people have made a loss!!

Lewis, you will of course be aware that everyone who has bought shares in a PA company has been wiped out. Pensana is showing the classic PA signs, astonishing claims the biggest the best the first accompanied by a string of broken promises and eventually a collapse blamed on others. You must have that queasy feeling that this is all happening again. You could sell now and buy back in at 35p, probably later this month. You can see the direction of travel, even Tony has gone very quiet on his stochastics!

August 31st 2021. RNS announces forthcoming Norwegian bond financing. Since then 12 months of hype. Wonder what M & G make of all the shenanigans? Or those institutions that got suckered into taking shares at 120p? I think we are reaching a tipping point, this cannot go on. If there is nothing by the end of September the SP will head into the 30’s there is no doubt about that.

There are incredible distortions of wealth both in China and the Uk. Poverty in the UK is absolutely shocking, an untold story and a national disgrace. Drive out of London East through Dagenham, West Bromwich, Huyton, East Yorkshire, horrific grinding property with a cost of living crisis and nobody in Government offering any real solace. What do the Chinese think when they read their take on this, see images of young people spitting their teeth out literally because they have gum disease but no access to basic affordable dentistry? Or read about us sending refugees to Rwanda? The only thing you need to worry about with Pensana are the reasons why it has not been able to secure finance, or if it does secure finance, the reasons why it got a deal so shockingly bad for pi’s. Everything else is a side show.

Tony. Since Xi has been the Chinese leader their economy has almost doubled in size. Ours has grown about 20%. I wouldn’t be so hasty to sneer at them or to absorb and regurgitate western propaganda. I am no great fan of China but I would say you do yourself no favours writing such garbage.

Nice little bit of self publicity.

China you need to come off some of those meds. Take a holiday. Go and see the terracotta army!!

China, you’re dim. In case you didn’t notice my posts, Tony’s post, yours and the half wit Sum Drum all deleted. Must be some Chicom conspiracy!