Pensana Share Discussion Threads

[lewis winthorpe] 28/11/2022 08:16

If you had been following this for a while instead of "I bought in yesterday and this will fly" then you would know my thoughts.

[cyberbub] 28/11/2022 07:31

Why not give your view Lewis, instead of a throwaway remark?

[lewis winthorpe] 28/11/2022 07:25

You are kidding aren't you?

[cyberbub] 28/11/2022 07:11

Good RNS. I sincerely doubt that the company would be moving forward with all this work (and more importantly, contracts) if it wasn't 99% certain of closing the funding package very soon. Conversely, the funders will be encouraged that Pensana is a serious company and that the developments are going ahead (less risk for them).

[chinasyndrome] 27/11/2022 22:23

MJW, Yes you are correct that is the 'Perception', but how do you rationalise that against ALK ? A company with no physical assets, the same Chairman and a similar 'Finance' requirement; compared to Pensana, with its Tier One Resource in Angola, substantial potential to increase that resource (Coola/Sulima West), with a now fully Permitted site to build their Refinery in the UK ?

The discounting of Pensana is clearly Disproportionate.

Yes it would have been nice to see Finance twelve months ago, but let's not forget that there have been some massive hurdles along the way. Re-applying for a Saltend site when our original site was expropriated, Covid and the UK Government meltdown followed by a Global recession. Excuses, excuses I know, but they are real and mitigation should be taken into account before passing judgement.

[mwj1959] 27/11/2022 16:41

China - Negative sentiment around the lack of concrete progress around financing (the market doesn't believe PA's spin on it) and concerns over a substantial equity dilution are the two factors most weighing on the stock currently, in my opinion. Both could be misplaced, but need to be resolved before the share price can move sustainably higher.

[mikethebike4] 27/11/2022 14:01

Cyberbub

I should have said 2025 is first full year of production so you are probably right about latish 2024 for first income figure

[chinasyndrome] 26/11/2022 21:47

Exactly mwj, Even though Liberium recognise that this is a high Risk venture, discount it to 40% and still give a their (highly informed) valuation at two GBP, So how do you explain the 4x difference ? It is certainly not fundamental, so it must be on account of Sentiment perceptions; Sentiment that we now all know was being manipulated by a group of professional FUD agents.

[mwj1959] 26/11/2022 13:37

I hardly think that the (often valid) questions that are raised about PRE on this BB are a major factor behind the performance of the share price. I suspect that the majority who comment here are invested in the company and want it to succeed, but at the same time it is important to take a balanced view of a company that is not forecast to be generating revenues for several more years and has yet to raise the finance to get to that point. Even Liberum currently base their valuation on a 40% chance of commerciality, but even on that basis their TP is nearly 4x the current share price

[chinasyndrome] 26/11/2022 02:13

To all those panic merchants worrying that PRE is going to fail; A Question, why did you Invest in a high risk high gain company in the first place ? instead of putting your money into a nice safe Blue Chip venture like IBM or ICI ?

If you want high gains you need to recognise that their is a higher risk factor. For those of us who have had the privilege of Mining Industry experience, we can look at the data and make a properly informed judgment. However those who do not have a clue about mining should not be raising their perceived risks !

Sentiment contributes a disproportionate portion of the SP, constantly raising 'Doubt' about perceived risks not only destroys Sentiment but also the SP; making it even harder for Management to operate effectively.

Note: I deliberately use the word 'Constantly' asking a question is one thing, but repeatedly making a Statement without proofs is considered malicious.

[cyberbub] 25/11/2022 23:37

Not sure you're right Mike, earliest date for income for PRE is probably late 2024, if funding was announced on Monday.

[mikethebike4] 25/11/2022 17:26

I get the impression from the list of share dealings today that PRE share price is being manipulated

[mikethebike4] 25/11/2022 14:05

ALK = income commencing 2025

PRE = income commencing 2023

Know which I prefer

Fingers crossed finance for PRE before Christmas

[cyberbub] 25/11/2022 10:17

Not yet AFAIK

[mhssh] 25/11/2022 09:57

Alkemy, do they have finance?

[mhssh] 25/11/2022 09:44

That would be very good, hope you can make it.

[mwj1959] 25/11/2022 09:27

ALK up on planning permission to build the TVL plant... hxxps://www.alkemycapital.co.uk/news
I'm going to try and go to the PRE AGM next week.

[mhssh] 25/11/2022 08:58

Or are we being sacrificed on the altar of ALK.

[mhssh] 25/11/2022 08:37

Can't come soon enough!

[sirmark] 25/11/2022 08:14

ALK flying up this morning, our turn very soon imo

[mhssh] 25/11/2022 07:13

There was a piece in the FT quite a way back which was very critical of the executive pay structure.

[cyberbub] 24/11/2022 22:17

Varies I would agree that the company needs to be challenged on director pay. I live some way fr London and can't make the AGM, is anyone else going out of interest?

[varies] 24/11/2022 21:58

mwj1959
Thank you very much for the link to the annual report.
There is certainly a huge amount to digest here but I do notice the generous pay that the directors have been enjoying.
Given that the amount of cash held is modest and that there can be no prospect of any profits for several years, I do wonder why the directors do not show more restraint.
With some regret I shall remain an observer for the time being.

[mhssh] 24/11/2022 21:28

That all sounds very reasonable, let's see what comes out at the AGM next week.

[cyberbub] 24/11/2022 20:51

There's no "emergency" involved Mssh. If the main funding package is delayed they will "plan" to raise a few mill more to continue prep work. That's why companies list on the stock market - to raise money. Sometimes delays do or don't happen, you can take a glass-half-empty approach if you choose.BritishVolt is chalk and cheese, it needed to raise several billion for a massive factory and super specialised equipment, and was run unprofessionally by billionaire playboys. They hung their plans on £100M govt seed funding promised by Clown Johnson which he never provided (or possibly some of the more competent civil servants realised the company was a bad bet).Pensana only needs $250M for Saltend, not peanuts but it's far lower risk than BritishVolt and has a huge IRR. Plus as stated by Atherley they don't actually need any Govt money as the investment proposition is so strong.So there are only two scenarios here: Atherley is a conman who's happy to risk jail by making public statements which are substantially false, the company has made no progress, investors including the Angolan Sov Fund have been conned, and it's likely to go bust and be flogged off for a quid in the near future. Or - this is an excellent investment proposition in a hot area, and while financial close may or may not take place this side of Xmas, ultimately it will be soon.Place your bets :-)NAI