Member Info for Tornadotony

Very transparent picture of production in Tanzania up to March 2031 for the old mines. Run rate for the next 5 years appears to be 60,000 to 70,000 mark with Singida production on top and Ramula later on. Around 180,000 ounces from resources to become reasonable reserves to mine looks possible around Luika and other sites. They mention a tailings project to add more ounce in the last remaining years.

Theorist,

I suspect Alison is providing the Board with contacts just like a few others. She is a minerals engineer by training at least and Roskill I think had contacts in robotics which uses a lot of magnetics and is in the labour savings market. It is a large growth area. Furthermore someone like Alison may move on from Pensana at some point in the future. What I find interesting is why would anybody who does not have shares in Pensana give two hoots about Alison's role. Tony

Troublesome
You have made fantastic profits on this share. After selling up most of your position you and others are now trying to find every word and every negative to devalue the share further. Everything BT had done was in full visibility of Samsung. If he was down beat, do you think that he would have got a term sheet arrangement at all. The company of course has to deliver a lot and demonstrate they are worth their pay. Edison are not expecting anything until 28 March. Tony

The real problem is how do western economies expand the workforce as the shortage of labour is what fuels inflation. Perhaps more support for childcare, having hospital waiting lists shorter for those needing to get back to work, training people to fill vacancies, relaxed immigration rules, better trade agreements between countries, effective measures to protect against future climate change, supporting more artificial intelligence solutions and robotics, supporting better approaches for independent living that would otherwise consume more human care time. At present very little is happening especially in the UK. Inflation is entering a new era and its driver in a background of changing demographics is the shortage of labour. High interest rates by themselves won't cut it. Boom and bust is a nightmare to invest in. It only creates short term traders.

Currently getting more pounds for the USD they will be getting. USD has gone up 4% in a month against most currencies and at least 3% against sterling.

Thanks troublesome it helps explain why we are at 23p odd.

Troublesome do you mind if I ask if you are selling out?

I have contacted QS directly as I could not find their patent technology anywhere and I asked if it was a GB patent. Interesting if they respond.

I found one patent filed, but it was not followed through to be granted as was labelled as ceased.

I saw nothing on QS website about patents.

Steve the figure that caught my eye was the drop in consumer spending. USA economy is all about the consumer and I wonder if that will keep any interest rate rise to 0.25%.

Ignore the last sentence about LOAM as that was to be deleted from an earlier draft.

I was reading the last annual report and it mentions quite clearly how the ligation of Samsung could be drawn out for years. Certainly events of early January were not envisaged until deep into December as a possibility and perhaps not at all after how things transpired in the 6 January RNS. It is interesting Tariq Hamoodi added substantially this month with a grand total of 13,637,000 in voting rights. His presence and interest does not rule out the possibility of some new licence agreements. Additionally Lombard Odier also have 12.19% of the company stock so nearly 1/6 of the company is still held by these two entities.

The annual report also showed the display market as being just 6% of the total market size for nanoco products. Sensors was 8 fold higher at around 47%. Illumination applications made up the remainder.

Another aspect of reading the annual report was the hope of visibility of an initial production contract by July 2023. Having a part of the team freed up from litigation oversight work is likely to be critical if Runcorn was going into production. It is not just employing and training up people, but is likely to involve mentoring with clients and managing other employees around the new recruits with appropriate team building. A lot of credibility through consistency and high quality has to be maintained as research turns into production and hence some of the language of transformation has a great deal of relevance. The Quality standards of say ISO will have to mean what they say in practice and not be just some plaque on the wall. The Samsung settlement also helps clients not having the distraction in the background knowing they will be more valued in having senior staff time available to them. The background starts to become success building on success and that additionality onto everything is really positive in trying to build up a business.

Overall, I think there is something to look forward to and hopefully a lot will emerge by or on 28 March.

The share price at its low point was 16-17p last year and LOAM certainly pushed it up higher at various times to 24p.

Jeff, the 100k was forward looking for 2024. An earlier presentation has 2023 at 92,000 but in January only NGLM target was given. Singida additions can only be determined when completion of ramp up is known. I was hoping for around 88,000 which is still a big jump on 2022.

As for the share price, it is not reflecting higher future production and the value of increased resource ounces. It has not weighted the reduction of company output capex costs as the mine expenditure is nearing completion with the last remaining percentile in sight.

It is the gold and copper prices that remain as an unknown. Everything is on a pull back of late. I have kept cash back in case this happened and I actually took a little off the table this morning where I had a small profit. Will re-deploy when things settle down in a few days time.

Unfortunately income is down 8% for the year and expenditure is a lot higher as the company invests for growth. A bit like Shanta gold in 2021/22. Probably will settle back a few pennies.

RSI 23

Now more oversold at daily 23.

Oversold on daily RSI and slow stochastics on zero. The ETF is becoming bombed out as it reaches a major support line.

The valuations I gave earlier are at $1700-$1800 gold price range. The average price up to yesterday was $1880 per ounce for 2023 thus far.