Member Info for Tornadotony

No I did not get a date.

RareEarther, if you think about this, so much of the work programmes are linked together. If they have for example a hydrology issue to solve at Saltend it hits the FEED work, which hits financing schedule, which impacts any decision on ATF support and finally it delays applications on the environmental permitting. There is a lot of technical activity within Pensana last month and we had no RNS output on it. I have put 2 and 2 together. All I got was a one sentence reply on why certain results had not come back to us thus far.

I dare say an AGM RNS is to come out later today. It is likely to include what is on Facebook and just maybe it will add that is an operational update. Unless the recent increase in Bank of New York holding is a prelude to something else, which I doubt, then I have shared what I little I know.

Tony

Direct from Pensana when I asked about delays on things a few days back they said an operational update was to be given.

All I know is that an operational update is to be given 1 December.

Amvest Capital
675 Third Avenue
New York, NY 10017
I am writing to inform you that the Pensana Plc webinar that was originally scheduled for Wednesday, November 17 has been postponed. The webinar will now be held on Wednesday, December 1, 2021 at 11:00 AM EST.
We hope you can join us on this new date and time. There is no need to sign up again, as your registration has been transferred to the new date. If can't attend, a replay of the webinar will be available at the webcast link below following the webinar on the 1st.
LIVE WEBCAST DATE: December 01, 2021
LIVE WEBCAST TIME: 11:00 AM EST

91.3p, 88.6 and 85.3p.. Will try and help on 3rd support line if it gets there.

Tony

This is a critical break or hold area.
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Responding to DPs point. Of course there is a cost for the in circuit production and all the inventories. It is of course steep in year 1 of production if it has to include all the in-circuit build up. Subsequent years the cash flow generated by sales covers replacement inventory. Front loaded costs do have an overdraft requirement and this is paid as a priority to any bond debt.
The bank paying the overdraft can extend the facility for a bond payment to be made if that is agreed to be done, but the company has to provide forward projections as to when the overdraft facility will then be reduced again. It is likely that the company would have biannual meetings with its bankers and they would need to meet advance notice requirements. The company will have debt with its traders supplying inventory and it will have creditors on who it has supplied its final product. The bank(s) providing the overdraft can require a placing for example if the commodity market decreased sharply and was to impact on the payment schedule. The company can not acquire more debt bonds unless the overdraft facility bank holders agree it. They also have a say on the rollover of any bond debt on replacing issuance in later years. Therefore the points raised by DP would be dealt with and when the FEED is worked out on core costs (OPEX) the debt financing costs (that include the above) are all added to it when they become known. Pensana also need to add the mining replacement cost (AISC) which is say typically another 15% on the previous total on the mining costs.

Tony

Do one of your stock pick articles Liberian for those who are looking for financial protection stocks against rising inflation.

Just added more at 12.20p. The company is earning $80 per ounce more on gold it mines out of the ground in the past month (15% uplift). This quarter they are producing their highest output of gold. What on earth is going on. Its absurd.

Thanks Gaias

Those who work in the public sector, for no fault of their own, can limit capacity of future outputs as they resource knowledge on more of the present day service delivery models. Its a trap that easily happens as they have greater visibility on public sector levers supporting staff training, grant aid packages, perceptions of public responses to policy and economic models that constrain the pace of change they actively work with. Foresight models they use tend to be far out in the future like 10 years, and would fail the climate protection target of 1.5C completely. The public service has been reduced for years so they contract out far more to academic bodies and can have less experience on what to look out for. The contract to academics can fail to ensure that the methodology of research is inclusive to all stakeholders or does not re-audit the inputs they receive by checking back with original sources with an in confidence draft report stage. As a consequence the vision of a document can default to just an opinion that is not subject to peer review or any kind of jury technique and instead has uncorrected bias. There is a value of having well trained policy makers actually employed in public services who understand research seduction and the unintended consequences of public behaviour to untested policy making. At the very least they need to go into these issues with a researcher commissioned before the contract commences on the work. Hopefully, Pensana are on top of this and have someone with the skill and elegance to write to Ministers and put forward a pragmatic view with evidence they have collected from multiple sources. Tony

Looks like the impatient are handing out shares. As they say after a strictly public vote score, thank you, thank you very much.

At least he is concise.

We have lost the shorter time frame bull channel but are still in a longer term one. It needs to get back to 15.75p. Absolutely no reason for the pull back. We have major news in around 3 weeks time that could add 30-40% on to the share price.

I certainly hope there is a comment made in the concluding RNS that gives a FEED completion date.

Thanks hogsnipe for finding the report and letting us all know.

Pensana has a right of reply. Time for Northover to earn her money and write to other MPs on what a load of garbage the report is. Peak need to do the same. What on earth was the point of Brexit if we have no capacity to support our essential resource supplies.

Theorist

PA was quite explicit that the magnet idea is something they can only look at after Saltend is built and the mine is operational and quite a bit of debt was repaid. The metal production was a 2027 project or beyond that time frame. The on-going FEED is not including magnet production but allows through design perhaps of a future project extension being considered.

Tony

Rareearther

I have an ISA Pensana and a non-ISA Pensana account. On the ISA account I was able to add 50% to the holding at 74p and sell that 50% holding just over 117p. It was the only thing I did on the ISA side and the benefit was a successful average down of more than 15% without any loss or additional risk being added to the holding. Tony

Theorist

To be fair the magnet side was just an idea. The plan is to make the oxides at Saltend.

Tony

Rare earth I hold a lot of Pensana shares.

Fade out on the break. Down channel still in play.
Losing JMAT on the battery front in the UK was probably something Pensana could have done without.