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Now on a double bottom. A number of companies with good prospects getting hit today. If Lagarde was serious about climate change she spoke of recently then a company like this is the place to be.

https://www.kitco.com/commentaries/2021-07-09/Dot-plot-Mayhem.html

Significantly priced in a drop in the gold price.

62 centres involved in the trial in total. Completion date of clinical trial is in October. The last patient dosed could be around 5 to 6 weeks from now. I presume we might get an RNS to say when recruitment phase has ceased.

The next high between 7 and 7.1p if it continues with a developing uptrend. The next higher low around 6.75.

Q2 and H1 report is due soon. Last year date matches up with Tuesday 13 July.

Finally have my planned allocation. Lower high should be posted in the chart. At some point we break 7p.

The Covid-19 virus has 30,000 nucleotides. Imagine a chain with 30,000 links. Lets say the manufacture of the chains is less than perfect as you get some with an extra link and others missing one and occasionally a link is completely different. Along that chain a lot of issues do not matter but so far around 15 were critical (4 gave the major variants and 11 others). The fear is that a 16th comes along by chance and that it escapes vaccine efficacy.

Now a mutation happens after it has passed through around 400 cycles of different people and we know most mutations by far along that 30,000 sequence chain do not undermine the vaccines. When daily infections like 5,000 a day there is only a tiny minute chance of that 16th variant concern happening. However, when it hits around 80,000 infections a day there is a 1 in 10 chance say of striking that mutation. After 10 days and 800,000 infections we have a risk of single person in England carrying a dangerous variant. Now a proportion may not infect somebody else for a variety of reasons as they may be heavily symptomatic. Lets say its a 50% chance to get to another person and spreads further. It would mean 1.6M infected to generate an escape route. Lets say we are 50,000 a day on 19 July and we hit 80,000 by 1 August. It is likely that it would take to around 3rd to 10th September to discover an escaped mutation in smallish numbers in the population has actually happened. Also at this time a hospital local to the variant reports high numbers of admissions. As long as the public realise the importance of all this and helping to keep infection rates per day well below say 80,000 a day then the vaccines has a chance to hold out with support from Covid-19 therapies as we head into October to December. The Government in Parliament today would not give a case rate per day where there is a concern. My own calculations may not be right, but it does help give a broad idea on why that figure is so important and how a clearer message needs to be conveyed to the public. I have written this to help those trying to decide when to mask up or not and why and how we all might help keep our vaccines against Covid-19 useful.

Certainly helped myself to a few. We move from rinse to blow dry with the buys.

The later phase of activity is a full due diligence process. Completion probably coincides with the FEED reports and everything coming together in Q4. ATF Grants are helpful with £50-£65M value or so, but the rigorous process also ties in with bank loan support at the same time as they piggy back on it. l will be taking a break from writing on the Pensana board for awhile as its a case of putting the equity in a draw and waiting to see what happens in October. Overall I remain quietly confident that a lot of hard work is being done at Pensana, the consultancies and civil servants at ATF. All the best Tony.

Sell side has moved up. I wonder if 18p options in the RNS is a hint for later.

Charles,

In the past I worked for a technology consultancy and I am fairly sure clients are employing people to solve problems and the ownership of IP affecting the customers business stays with the customer. The reward for the consultancy company is earning fairly good day rates, repeat contracts from Pensana and other companies and having to do little on business development activity as it just flows through the door on reputation. The IP retained by a consultancy is actually doing their consultancy methodology as they will have logistics analytics, costing processes, stakeholder analysis and God knows what. They will have a history of problems to watch out for and all those check lists is their IP. The competition they are focussed on is other engineering consultancies. What they may ask from Pensana is to have some material to show case their work on how they help companies. Tony

Only if 153p breaks could we see the 148p support. The support line is strong as a triple 153 bottom. I would then hope for another resistance retest as we go through the month.

Managed to get 137p. Decided to pull out of Fres on a small profit and add more on AAZ.

Going down to support line possibly.

Certainly 14.68 is a buy. Just put one through. GB hopefully gets a win win result.

Could be 6.55 or 6.6. If followed by a bounce to 7.15 area and then drifts 6.7 on next low we have a bullish trend. Order in the book going in as another chance for 4th tranche buy.

Additional thought- In future years with improved knowledge in processing one can access more environmental challenging areas of a mine plan. If 5-9% price growth was arising annually a percentage of it would be expended for new process innovation and tailings improved management to convert what was grade B material into grade A.

ChinaSyndrome

I agree to no to high grading. Grade A may have mean average concentration of desired material, but its the most environmentally friendly and the production cost reduces as a result as it has the least unwanted pollutant elements . Hence why Rainbows Gypsum stacks in South Africa are a really nice source for processing at Saltend. Tony

Its a wash, rinse, blow dry repeat trade cycle. Wash is the initial pull black from 170's. The rinse cycle is 159 to 153 and the blow dry takes it back up to 170 ish. Otherwise is like watching paint dry.