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Great news from China. The one they let out at night that is. We could be looking at $50 share. Not 52p. Who would have thought! More wondrous forecasts to follow!

Just odd that the SP is only 58p?

So stochastics turned out to be a damp squib, no surprise, applying technicals to a two bit exploration business a total waste of time (sorry Tony you need volume and a market for your theories to play out), no announcement of finance, surprise, another very disappointing week for the Pre hopefuls. But still they chant his name!

China predicted 83p sp last month, twenty bagger by Christmas, China the multi millionaire, darling Paul, time to take the photo out from under his pillow and give it a little buff, throw a few insults at anyone who disagrees with him, then they lock him up for the night and peace is restored! Meanwhile the company continues to maintain that finance is tomorrow, or if not tomorrow then the next day, the market says buxxxxit and the price falls a couple of pence, Tony says it’s all,stochastic and the sp will fly tomorrow, asks me if I work for President Xi, nobody could script this! Meanwhile PA living up to his reputation, history repeating itself, announcements of colossal riches and great bounty, the first, the largest, the best, the biggest, the only, mine to magnet silver shovels, current bid 56.15p, market giving PA two fingers.

I know, I was just being stochastic!

The Formula for the Stochastic Oscillator Is
\begin{aligned} &\text{\%K}=\left(\frac{\text{C} - \text{L14}}{\text{H14} - \text{L14}}\right)\times100\\ &\textbf{where:}\\ &\text{C = The most recent closing price}\\ &\text{L14 = The lowest price traded of the 14 previous}\\ &\text{trading sessions}\\ &\text{H14 = The highest price traded during the same}\\ &\text{14-day period}\\ &\text{\%K = The current value of the stochastic indicator}\\ \end{aligned}
?

%K=(
H14-L14
C-L14
?
)×100
where:
C = The most recent closing price
L14 = The lowest price traded of the 14 previous
trading sessions
H14 = The highest price traded during the same
14-day period
%K = The current value of the stochastic indicator
?
It means that Tony thinks the share price will go up on Thursday!!

China your question is dull. Pensana have not yet achieved anything, the 60p share price reflects that. Don't lose sight of the fact that at the moment all they have is their scrubland, a farm in East Yorkshire and a board enjoying fat salaries. And my bet was that they would not break ground and raise finance by the end of July, Mumbles had the good grace to concede that he lost and paid up. Dao decided that the ATF money we all knew about counted as the raise and he welched. I know you are desperate to become a multi millionaire and that this is your last chance and hopefully the brilliant equestrian can bring home the bacon for you. And give your side kick a nudge, I think the needle's stuck.

Tony. I think rather than conduct a micro analysis you might benefit from standing back a little. The company has generated a lot of noise leading people to believe that financing is imminent. The Cicero feint was classic Pensana. But if finance was imminent why would they want to raise $10m bucks or whatever from the Angolans at 60p odd when $500m is just round the corner? And you’ve been around long enough to know the market leaks like a sieve, particularly when you have a mouth as big as PA’s! Yet the SP is going nowhere. So what does that tell you? What conclusions do you draw? Eloro is right to flag the forthcoming anniversary of the Norwegians. How on earth can a responsible company make such an announcement and then never utter the word Norwegian again. Are shareholders expected to just guess that that was another PA failed initiative? Do you accept that is what it was? Forget about charts, break outs, American holiday habits. It’s about one thing. Finance or no finance. Everything else is an irrelevancy. Does the company have a bankable project? Well you know what I think!!

Ok Colin, when do you think the company will get a finance deal? You must have an opinion. My name is Colin and I think the company will raise $xxxm no later than xxxxx and will proceed with Saltend/Longonjo (delete as appropriate). I think the Company will need to raise $xxxm of equity and this will involve a placing at 40/50/60p (delete as appropriate). Copy and paste, fill in the blanks. Is that helpful?

Two interpretations. SP falling because of absence of finance deal. Or Sp falling because of forthcoming finance deal, ie equity raise or convertibles in the 40’s or low 50’s? My guess no finance deal, time and patience running out. SP in the 50’s next week. 20 bagger on hold.

I cannot see any statement by the company that indicates they either have or on the verge of having a finance deal. You might think they are unwise to make all these announcements if they don't have finance organised, some might say downright misleading in fact, but this is an outfit that does nothing conventionally. Remember they announced before they had started work on Saltend 1. They announced the deal with Great Wall. They announced a deal with the Norwegians. They announced Cicero. Now they've announced appointments, a group of 8 heading up a team of 134. Is the Government going to write a "huge" cheque to a company that has nothing, no material to process, no technology, no track record? I don't buy it. The market obviously doesn't buy it either. Mumbles and Tony are uncertain. Only Humdrum, the reptile and the gent from the asylum are confident.

Sundrum I don’t think Saltend will ever get built because I don’t think it will ever attract finance. That was why I was very happy to take Mumbles and Dao’s bet. Mumbles has duly paid up. Interesting that whilst you uprampers scream and stamp your feet none of you are confident enough to say when the finance will be forthcoming! Do you fancy a little bet that it won’t be this month?? Or is that clucking I hear??

China. First if you call someone an ignoramus and a welcher it would be good to spell welcher correctly!! Second, who has achieved as much as Pensana? Well Pensana hasn’t actually achieved anything yet because in case you hadn’t noticed they don’t have any money and it’s more than possible it simply isn’t going to happen. My guess is the Angolans lose patience, revoke the mining rights, and hand over the opportunity to someone who can raise the money. Contrary to your own forecasts the share price did not hit £1.00 last week, finance wasn’t forthcoming and you didn’t become a multi millionaire. No wonder you’re so miserable!!

Morning. The RNS is interesting because it is unimaginable that the company would make this announcement if finance was not already committed. It is just a very odd way of doing things, you would expect the finance announcement to come first. There is certainly nothing conventional about the approach. So what timetable now for the finance announcement??

Mumbles I agree that all the developments of the last month SOUND positive. However as we know there is only one thing that matters and that’s finance. As you can imagine this project has been hawked around every market and every lender the last two years and everyone has obviously rejected it. To my mind Cicero smacks of a belated effort to paint the bonds green and flush out an opportunity they might have overlooked. I imagine that the company really is looking at the bottom of the barrel. And everyone knows that. And even if they do find something amongst the dregs what kind of deal will it be? A take it or leave it option that it is particularly gruesome for existing shareholders? This is not FUD or downramping. This is the blatant reality.

Mumbles that is very honourable of you. You could use as a delivery address The Tiger Inn, The Green, North Newbald, YO43 4SA, marked for the attention of Billy (who obviously isn’t me, I don’t live in Yorkshire, It’s Chicom HQ!). I would like to send you a little consolation prize I think you’d enjoy so likewise if you have an address just let me know.

Humdrum. On Wednesday you post to say £4m “is not huge”. On Friday you say the Government announces a “huge financial boost”. I think you need to make your mind up. Put in context this much vaunted long awaited cash from the ATF only pays salaries and bonuses for Paul and his pals for 12 months. In fact since news of this broke in the Times they’ve already chewed threw £400k. And you can’t build a world beating RE refinery for £3.6m. Assuming this site turns out to be more suitable than the first. Mind you they don’t have feedstock, they don’t have the people or the technology, they don’t have the money, they don’t have a bfs, they don’t have a track record. There aren’t 100 skilled RE refiners or processors sitting on a park bench looking for a job. The know how, the skill, the technology that companies like Lynas, LCM and others deploy is huge, much of it built up over decades. The whole notion that Pensana can somehow grab a cheque and gate crash this business is to my mind a fantasy. It’s a get rich quick $600m NPV 20 bagger fantasy put together by individuals who should know better, from past failures. And decent people squander their savings in pursuit of this holy grail. Well as you know to my mind it is madness. For your sake I hope I am wrong. And no, I’m not some paid FUd Chicom emissary sent or paid to post this although tonight when they let him out for some fresh air we all know what China’s diatribe is going to look like!!

RNS Thirteen months ago.

FEED of concentrator plant, MRES plant and SX refinery Site clearance and construction readiness at both the Saltend and Longonjo sites Long Lead items for Saltend ordered and deposits paid Construction work packages finalised for Saltend and Longonjo
The Company anticipates needing to raise the main financing for its projects during the course of Q4 2021, which is expected to be a mixture of long dated debt and equity finance totalling, in aggregate, approximately US$400 million. Pensana has received indications of potential financial backing from major shareholders and approaches from a wide range of financial institutions. The actual timing of the main financing will determine the timing of the deployment of funds set out above and the Fundraise, if required, can provide the Company with the working capital flexibility needed to adapt to changes to the main financing timeline.

Do the facts ever speak for themselves??

Sundrum I anticipated the worst and found the best. We went this month because of my wife's birthday and were very pleasantly surprised. We avoided Positano and Amalfi and off the beaten track it was a delight. April is a poor choice because the sea is too cold but late September is perfect on every count. And should you try the Syrene go for room 401, there's another free tip for you.

Mumbles you actually appear to be a very nice chap, the bit about leaving only applied to Dao. Dao in any event is claiming a win because he considers the ATF money announced before the bet to constitute funding! Sun Drum has an equally hilarious interpretation. I agree too that there is some time left but given the 31st is a Sunday it would seem that Friday morning is the realistic cut-off. I just spent a week at the Bellevue Syrene in Sorrento and the last night ordered a bottle of Amorone, Tomassi to be precise, it was a revelation. President Xi would approve!!