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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Pensana Plc | PRE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -1.55 | -5.74% | 25.45 | 16:35:16 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 26.10 | 25.10 | 26.20 | 25.45 | 27.00 |
| Industry Sector |
|---|
| ALTERNATIVE ENERGY |
| Top Posts |
|---|
Posted at 25/1/2024 17:14 by mhssh mwj thanks, although my interest is purely academic. Your sale seems most timely and opportune. I guess everyone has seen the Research Tree post on PRE. |
Posted at 25/1/2024 12:03 by mwj1959 mhssh - not sure that title is warranted! I (fortunately) sold out of most of my holding north of £2, so have limited skin in the game now. PA won't have abandoned this (they've just delivered a corporate update)as he is likely to have far more upside here, given his very large holding (38%), than he will have in PRE, albeit PRE (at least the Longonjo part of it) is a more advanced project than ALK. A dilutive share placing at £1, weak lithium prices and the lack of definitive news on raising the significant capital to develop TVL have all weighed on the ALK share price in the meantime. It's stating the obvious, but delivering on the latter, as with all development projects (the same applies to PRE), will be key to generating a recovery in the share price from here. This is why I continue to see an investment in ALK (and PRE to be honest) as long-dated option money. Both are for the brave and patient. |
Posted at 03/1/2024 18:09 by mwj1959 I have a lot more confidence on the delivery of Longonjo that I do for Saltend (that's not to say that it won't be delivered, more a reflection on the greater financing challenges etc.). And I suspect PA and his merry gang think so too given his AGM presentation was much more focused on Longonjo (compare and contrast with the 22 AGM presentation where Saltend was the main focus). The Angolan government has a vested interest in it happening and at the end of the day it is a relatively "straightforward" mining project with an underlying commodity where there is clear LT demand. This demand is not dependent on Saltend being delivered (it will be producing before Saltend is operational), albeit from a PRE shareholder perspective it would clearly be beneficial if both were delivered, particularly as Saltend is forecast to be a much higher margin business. |
Posted at 17/10/2023 06:18 by dumbpunter The companies involved in the MSP have already been announced. PRE wasn't one of them, even though it was a nominee from at least 2023.So what was the purpose of the meeting? To repeat the meaningless reassurance that Pensana was important but not part of the strategy? |
Posted at 09/7/2023 16:09 by roundthetrap1 Mumbles. The $80M is still subject to DD but one would hope at this stage with the FSDEA commitment it should just be box ticking. PRE are not in a position to dictate investment terms. I believe a key statement of the RNS is "The purpose of the proposed investment is to facilitate the immediate development of the Longonjo mine and to provide the necessary support for the proposed project debt facility". It is FSDEA support for the project (Longonjo), not Saltend. Once work on site gets underway and visible progress made, it could help PRE in their discussions with the UK Govt for support for Saltend, which at the moment seems lacking. There seems no doubt that FSDEA have made the short term outlook rosier for shareholders. PRE should now table the economics of the Longonjo development as a stand alone project together with a construction timetable. |
Posted at 07/7/2023 16:19 by roundthetrap1 So FSDEA finally told PRE "use it or lose it" They, and presumably M&G, got fed up with the promotion and BS of Saltend and said develop the asset you have rather than promote a pipe dream.Get rid of the photo shoots and start mining! PRE had to ditch the BFS because they did not have a reserve (subsequently produced in August '22)and told the gullible that FEED was the way to go. But now they claim the reserve was part of the Longonjo Feasibility Study. If there is a FS, post the relevant detail on the website. Why does the project need more due diligence? Allegedly they were near to finance two years ago - surely ABSA et al have all the info they need. More mandation? The PRE Board and management have lost any credibility they might once have had - no one has been involved with the successful development of a project.In April production was 45000tpa but now it is 38000tpa but with the same 4400t of NdPr Ox.??? PRE Board and mgmt need to recognise their duty is to shareholders and focus on delivering a project!Can TG elaborate exactly how Trafiguras recent announcement will benefit PRE in the next 24 months. |
Posted at 17/5/2023 16:40 by mhssh There is to be an expose on British Volt later today or tomorrow on Sky. It seems it will be critical of the government lack of support (but also likely critical of BV). Maybe, just maybe, it might lend some impetus to the whole issue of support for new tech industries, could it help PRE? |
Posted at 01/4/2023 18:39 by mhssh Small money to M&G but, right now, huge money to PRE e,g difference between survival and wipe out. So I hope, if they do step up to the plate, that they will take control of PRE's profligacy. |
Posted at 01/4/2023 18:01 by mwj1959 The investment that M&G made was tiny in the context of its overall AUM of £300bn+. Clearly it would have been more relevant to the fund(s) that invested in it, but even then the c.£10m+ they have invested in total might not have been that significant either. Individual fund managers running funds make these sort of calls every day (and are trusted to do so without any reference to a panel etc.). Some they get right, some they get wrong. So far they seem to have got this one wrong. The key for any manager is to to get more right than wrong and if you do that you generally end up with a decent track record. If you don't your career is unlikely to last that long! There are always mistakes along the way and clearly if PRE never makes it off the starting block this will be one, that with the benefit of hindsight, they will regret, but are unlikely to dwell on. Their challenge now will be whether to continue to back the company and I am presuming that tough conversations will be going on with PRE management as we speak (and may have been going on for a while) about where exactly the company is on the funding front. Clearly, participating in these conversations will mean that M&G will be "insiders" so won't be able to trade any shares. |
Posted at 01/4/2023 13:39 by mwj1959 Fund managers get it wrong frequently, particularly in the more speculative areas of the market...and that's speaking from personal experience! That is why I have said all along that PRE and ALK were option money. They still are, but with PRE seemingly further out of the money than it was. |
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