Member Info for Tornadotony

Hopefully, they will include control of all costs in the presentation.

God knows what they are doing with gold prices this autumn and it reminds me of what they did with record low gas prices in 2020 and look what is now happening.

I was with Bristol Energy who were actually owned by Bristol Council. The move over happened quite a few months back. I still return energy readings and everything with the same people as before. The only difference is one sentence mentioning this company somewhere as owning the account.

Just discovered the company I was with last year transferred us all to Yu. I hope we will be okay as I took out a two year deal last month.

The enterprise value of Centamin with all its dollars in the bank, resources priced at $40 an ounce (inferred priced at zero), Reserves after depletion for 2021 at $150$ an ounce as its a fully functional mine equates to just over 89p. Of course the long term free cash flow per ounce Gold price minus AISC is well over $150 after all taxes and profit share. A functional mining operation should be trading greater than in the ground price and what it has as cash in the bank. The FCF model minus decommissioning costs should value Centamin at around 121p at $1800 gold price. The company will update Sukari reserves and resources in Q4 and hopefully this will replace ore mined out over the past two year and increase the in ground enterprise value and the FCF minus decommissions model. A much higher gold price in future does give a higher CEY value. A question for the company for somebody to raise is what gold price does the company regard as economic to mine. It was $1300 per ounce years ago and they could to add to others they are compiling. Tony

Mr Tibbles and our readers out there,
The attached article is 7 years old but highly relevant. They are treating the public like mugs and read off the same script of transitory inflation.

https://www.forbes.com/sites/perianneboring/2014/02/03/if-you-want-to-know-the-real-rate-of-inflation-dont-bother-with-the-cpi/?sh=32d75345200b

Inflation is about as transitory as FED committee members not trading shares on their inside knowledge. I do not know what it is like for everyone else, but inflation looks fairly hot to me and it feels like its around 9-10% here in the UK and if you go in any building society you read the notice that interest on accounts is declining to 0.15%. I wonder if those in charge think everyone is an idiot and can not count. The chances of it cooling off might partially happen, but 2% next year is a made up low figure.

Last year it was all about climate change and oil companies were out. Now they say its great to own oil stocks and climate change is all BS as its to difficult to figure out.

Stay well everybody and enjoy the weekend whatever you do.

Rare earths are generally at lowish percentages in mining ore. They need to concentrated and refined to a decent percentage so as to avoid huge volumes of ore being shipped from Angola to Saltend. The mine site will deliver a concentrated rare earth sulphate and its NdPr percentage is around 36%. As it arrives in Saltend the current intention and plans which are associated with any ATF funding involve processing this concentrate to deliver the rare earth oxides. A separate final process converts NdO into the NdPr metal. The entire development in the business plan is to get to the oxides and another stage is required in the development to produce metal. Eventually Pensana can deliver that stage if necessary, but who is to say if it is better for an existing company to receive the oxide and deliver the final added value stage. A grant to LCM may facilitate that process. LCM may also find their expertise may be valuable and to act as a consultancy to deliver a next stage development at Pensana Saltend. Nobody wants to re-invent the wheel in all of this and the volume of metal required is significant and what maybe needed for EV cars and other devices could be rather different to energy generating windfarms.

Always a tricky day. The uncrosses after close can be surprising.

To see the short positions you need to use Ortex not LSE. The company is being shorted according to Ortex with 3 Million shares. Its a fee paying service.

The gold bullion banks were 80% short on gold. The price may have dropped so as to allow them to close the short contracts before expiry dates. If this is the case we should hear about a week Friday in the COT reports. Hopefully the bullion banks are back in a more balanced position.

Gold bullion banks getting some help to get out of short positions. August is return to school shopping month and this time children actually go to school and need clothes. It would be weird if retail sales had not increased both in USA and UK. Lets see if this finds its way back up over the coming week. Everything bought when priced in gold ounces is getting very expensive.

https://www.ineos.com/

They took over the BP operation last year. INEOS and Pensana do know of each other as they have both invested in Saltend.

I should add the ATF grant would have conditions in the contract in the event of a takeover.

Eloro,

I now strongly suspect a takeover of Pensana is on the cards. They will await the FEED study and a few other factors. It may not be just MP interested. Tony

Oversold on Hourly
No overbought signals on 5 Hourly.
Daily only one minor indicator just overbought rest neutral.

Weekly signals remains overbought.

Some point tomorrow it should be ready for more buying to go higher again.

last not lost despite my correct it!

Pensana has 3 M shares taken on loan as short interest. This position was initiated from the April peak and has gradually built up over many months. The shorter has taken some off and put them back on several occasions and is the primary source of share price volatility. The lost close and re-open I think was for around 554,000 shares as my time expired on examining it.

The identity of this source is hidden in one of the nominee shareholder bank accounts. It is possible for a competitor company to do this if they wanted to enhance their own competitive market position. I was able to gain a quick look at their position via free sight of it via Ortex.

On the company website you will find a report dated 31 August. It discusses the target date for initiation of a $250M 5 year bond once the FEED analysis is complete. It also discusses on-going off take agreements that have been initiated and we know three are under confidentiality which is a component to main financing. It also mentions the possibility of the ATF (Automobile Transformational Fund ) may provide support by way of a grant or alternatively they may have means to assist the company by other financial means to facilitate the project. The status of benefits in operating in a Freeport with tax concessions is also being worked out. Of course the green bonds are expected to be announced as being available by the time of November COP meeting and the Bank of England is being expected to provide support to industry via those green loans. The company last placing was beginning of July and they have enough funds as they work towards the first line loan arrangements as currently scheduled. A placing of some kind is expected in the main financing that will include AWF the main share holder at 22% covering part of the placing shares which they have agreed to do but we do not know if it will be early next year or not as a lot of things need to complete first.

As someone who has just the board, I hope you are respectful to those who respond to you. I hope you have joined to become an investor in Pensana and not here wasting other people's time as we have experienced that kind of behaviour before. I do encourage you to read the company material and to do your own detailed research prior to investing. Its your responsibility if you gain or lose on any investments. Tony

Just posted.

https://pensana.co.uk/wp-content/uploads/2021/09/CMA-08-2021-A-Blueprint-for-Responsible-Sourcing-of-Critical-Minerals.pdf

After the webinar, a lot more clarity of what was being done was hammered out and we had more transparency. I was expecting stability and for the share to test upper 90's and instead the enterprise value is taken back into 2020 levels before anything was done at Saltend at all. Hammering a stock with no news when the underlying commodity in the ground is increasing values makes no sense.

https://www.kitco.com/news/2021-09-14/The-big-announcement-from-China-that-could-upset-uranium-bulls.html?sitetype=fullsite

China to build a 2 mega watt Thorium reactor and if it works well they will construct the first full blown 363 Mega Watt Thorium nuclear reactor. The idea is to replace coal power stations with thorium nuclear reactors.