Member Info for Theorist

Dumbpunter I am disappointed. This will be a very dull chat without you. I think you should agree to return when the share price hits 75p. Cut short the holiday?!

Pensana professionally run? Many promises made and not fulfilled. Very clearly they are really struggling to raise the finance and no guarantee whatsoever that the Norwegians will come to the rescue. And as a poster on ADVfN pointed out Atherley has presided over three failures. I see many similarities between this company and Rainbow. Also any financier will be very, very aware that they have no competition and the cost of finance, if they procure it, is going to be extraordinarily expensive. Pensana could find themselves with a minority interest and an extremely weak negotiating position. Would have thought that was pretty obvious to everyone.

Absolutely spot on roundthetrap. Saltend is a smokescreen, a ploy to try and get some money out of the Government and nothing else. Company claims to have held their board meeting there, presumably on an upturned skip. Worrying whether the 9 acre site is big enough. They must think we are all stupid.

China you cannot accuse another poster of ignorance and then write first, that there is some kind of bank approval in place and second that the ATF would have drafted or approved the RNS. You just make yourself look stupid. Aside of which the outfit that Pensana are talking to are only intermediaries, they would not themselves either provide or underwrite the finance.

Worried that all the Company can announce is that it is talking to ABGSC. Desperate times, desperate measures? ABGSC has never financed a resource project, a record most unlikely to change! Seems everyone has more or les given up on ATF as a source of anything but pocket money, offtake agreements necessary but hardly meaningful...if I can get finance and develop a mine and if the grade is x or y would you agree to buy some tonnage from me? Without committed finance everything else is totally irrelevant, including unfortunately most of the posts here!

Probably the most sensible assessment posted for several months. All Pensana has is a few quid and some mining rights in Angola. That’s it period.

Of all the hundreds of posts over the last six months the only ones that have shown any accuracy have been those by that fella hammy on ADVFN. He has called the SP with unerring accuracy since it was 180p. His end of August forecast is 75p. I have to say you'd be pretty brave to go against that on current form.

Have to agree with Dumbpunter. I cannot see that Pensana have anything. There’s no mine or even the faintest indication of any financing, there is no manufacturing or technological expertise, no capital to develop a manufacturing arm, just a lot of false hopes and promises. And still no explanation as to why the two non-execs left. This talk of Pensana becoming a magnet producer really is fantasy land, there is no substance to it whatsoever. I genuinely fear for the company’s future.

Yes that is odd. Wouldn’t be like Pensana to make a premature claim to success. Must be something else!

Well fancy that! Pensana’s saying how fiendishly clever they are. They have done well to find someone to believe this tosh.

It's brilliant. China has found a way for Pensana to access raw material from Longonjo without a mine. They won't even need their miracle cure for the radioactive stuff . Magnets coming soon. Share price to soar to levels not even dreamt of. Splash your life savings here. Anyone in denial to be jailed or executed! Nobody needs to buy a comic, just join the share chat!

If the committee rejects the Pensana proposal it would need to be as a result of showing the UK could obtain magnets sustainable from another source. So far that does not exist.
Tony, there is no realistic hope of the Uk being able to obtain magnets from Pensana. First Pensana does not have a mine or access to raw material. Second do you have any idea of what it takes to build a plant to mass produce magnets? Not to mention the R & D and technology involved? I am sorry but it will never happen. Just to give you a tiny taste of what is involved in magnet production read this from Toyota:
Development background

It is important that magnets used in automotive motors and other applications have high coercivity (the ability to maintain magnetisation) even at high temperatures. For this reason, approximately 30 per cent of the elements used in magnets are rare earths.

When powerful neodymium magnets are used at high temperatures, such as for automotive applications, terbium and dysprosium are generally added to increase high-temperature coercivity. However, terbium and dysprosium are rare and expensive metals found in locations with high geopolitical risks. Because of this, considerable efforts have been made to develop magnets that do not use these metals, and positive results have been achieved.

Production volumes of neodymium are relatively high among rare earths, but there are concerns that shortages will develop as electrified vehicles, including hybrid electric and battery electric vehicles, become increasingly popular in the future. Despite this, little effort has been made to address neodymium use.

To overcome these issues, Toyota successfully undertook development of technologies that can eliminate the use of terbium and dysprosium and reduce the amount of neodymium used. Through substitution of neodymium with lanthanum and cerium, which are abundant and low-cost rare earths, high heat resistance can be maintained and loss of coercivity minimised.

Use of rare earth in neodymium magnets

The new neodymium-reduced, heat-resistant magnet is able to maintain coercivity even at high temperatures because of the combination of three new technologies: –

Magnet grain refinement
Two-layered, high-performance grain surface
A specific alloying ratio of lanthanum and cerium
Mine to magnet is a lovely sounding cliche, but that is all it is, a cliche. Pensana needs to focus it's extremely limited resources on becoming a miner and forget this nonsensical dream of becoming a major manufacturer. It damages the credibility of management and erodes shareholder wealth.

I think you'll find that the company applied in Round 7. The announcement back in March was "successful first phase progression" although it is unclear what that means. It is not a term used by the ATF itself. The results come out and applicants are notified 3 weeks after each round closes so it very strange that there has been no follow up announcement by the company. I would be extremely surprised if the company got any cash out of the fund, I think if they already had a supply and some active automotive R & D or technology then just maybe. It's hard to see what they offer now.

What is the point of posting these ridiculous insults? It’s ever so tedious.

@sundrum Did you know that knife catchers usually buy low and sell lower? Ring a bell with you??

@manonfire2 here's some proper garbage for you. "Remember the fundamentals and yet to be reported assays! Consider the macro economic and geopolitical events and your optics will certainly shift into positive light! This is a once in a generation trade, ignore the turbulence and wait for clean air, this company will soar!" Remember posting that when the share price was 180p? Did people buy on your exhortation? And then lose more than 50% of their investment? Well not me thankfully but it goes to show the harm that irresponsible people like you can do. Have you ever considered that?

Sundrum let’s have a look at some really naive posts:
Fill your boots
If anyone isn’t buying they need their heads looking at
It’s a no brainer
If anyone sells after reading this they are insane.
Meanwhile the grown ups pick up stock for a song. (99p at the time)

I don’t know why you bother posting this trash. It is childish rubbish and serves no purpose whatsoever. I seek to present a balanced view of the issues at hand. This is a stock that has lost nearly 60% of its value in a very short time and everyone should be seeking to understand why that is. Is the stock now cheap or are you catching a falling knife? This is where the analysis should be focussed.

China. You claim that Roy Smith is one of the most experienced RE process engineers in the Western World. Roy is a young guy, he has only had two jobs, he was with Nagrom in Perth and then Peak Resources. On the Pensana website it states “he has built and optimised projects supporting battery and magnet production”. This is not an accurate statement. He has never been involved in either battery or magnet production, his only link is through the supply chain. I think you fall into the same trap as Hogsnipe. You cannot sit down at a table with some smart consultants and from scratch just build a magnet production facility. It is incredibly complicated, it can take years to tweak and adjust process plant, to get flows, temperatures, a hundred variables spot on. The people posting here like Hogsnipe have no idea at all of what is involved. It is complex enough just to process RE, let alone design and build a magnet mass production facility.

Tony I can 100% confirm I do not have a short position. This is in any event not a stock that you could short.

Tony, the problem Less Common Metals have is that it is incredibly difficult to source feedstock. Plus at the moment Pensana have none of the expertise that LCM have. It is naive and simplistic to think that Pensana can come out of nowhere, develop a refinery, acquire the skilled personnel and technology, find the feedstock and bingo. That’s just not going to happen. Saltend is a diversion, it’s using the left hand to catch your attention whilst the right hand plucks the card out from behind your ear. There is not a single Pensana employee with the experience or expertise to drive Saltend forward. Even if they had a feedstock. Finance for the mine is the only thing that could arrest the decline, even then there are still some colossal obstacles to overcome. I am not saying it is impossible but the odds are heavily stacked against a happy outcome, big risk can bring big reward, but this is very big risk.