Pensana Share Discussion Threads

[chinasyndrome] 14/12/2020 23:23

No, Profit is a return in excess of Investment, or are you already righting off the initial loan from Tax Payers, Investors, Unions, ?

FYI the only money I have lost to Americans was a small loan to Bob Turner (Zortman), which he never paid back !

Not repaying debts must be a Yanky trait; they have become too used to living off other peoples money/work (Slavery)!

Last time I looked it was getting close to $1B, Didn't I read that they needed $40M just to translate the latest EIS documentation into the local lingo ?

[yumyum] 14/12/2020 23:16

China, you say ''with any luck Pensana will be producing over 30,000tpa NdPr by 2030.'' In the UK refinery ? That would be a lot of luck. I hope so.

[yumyum] 14/12/2020 23:05

..who spent that ?

i.e. evidence please.

[yumyum] 14/12/2020 23:04

$1 bn in Greenland ? That seems rather a lot. ;-)

[chinasyndrome] 14/12/2020 22:44

Yumyum, You have must have a very warped idea of economics. How on earth can MP be in Profit when they were seeded with at least a Billion dollars of Public money ! I doubt if they will even break even on OPEX until 2022 with all the push backs they have to do before opening up the Pit floor !

Same goes for Greenland how much money (must be getting close to US1B ?) has been poured into that still doubtful venture over the last ten or more years, They will have to produce a lot of Nd Pr before they can ever become cash positive.

By comparison Pensana has expended very little, (

MP is a Mine without a Resource, Greenland is a (dirty) Resource without a Mine !!

[yumyum] 14/12/2020 22:27

A little radiation does little harm. The rules are too strict- hence the expense. Wind turbines kill birds, bats and insects on land...just birds at sea. Non-disposable in the most part. Room for both methinks.

[swanvesta] 14/12/2020 18:02

cyberbub, tell the chinese. Tell the other countries outside the west who are expanding nuclear. Tell Elon Musk.

[yumyum] 14/12/2020 09:49

Agreed, Chinasyndrome...let's wait for the BFS rather than your ramblings about increased throughput.

I thought MP was in profit already ?

swanvesta, Berkeley Energia have a great project there. I was invested there for a while. It is a shame the so called eco zealots are blocking it. Nuclear generation is constant, whilst wind is intermittent.

[chinasyndrome] 13/12/2020 05:47

Yumyum, From these last few Posts you are obviously taking some controlled substances !

This is not just about Pensana, the World needs as much NdPr as it can get over the next 10-20 years if it ever hopes to meet Carbon Emission targets,

Grade has nothing to do with it, there was enough Ore even in the PFS, to run at 3Mtpa @ 0.62%NdPrfor ten years. And interestingly enough the Grade per cubic metre actually rises in the fresh rock ! By 2025 Pensana could well be in a position to open up a second Processing Plant, possibly at Coola, and with any luck Pensana will be producing over 30,000tpa NdPr by 2030.

Your claim that I am smarter than Pensana makes no sense what so ever, how can any single person be smarter than a company. Might I Suggest you wait for the BFS before you post rubbish again.

A lot is being delayed at the moment, including Greenland's EIS (how many years) MP's return to Profit (2 years at least) and Pay-back (Never), PEK's ML, Lynas' move to Kalgoorlie. So a couple of months wait for a greatly expanded BFS is somewhat inconsequential.

Actually Greenland is fast approaching the "Basket Case" Category along with MP and a couple of Ionic Clay deposit hopefuls, how do they ever hope to mine and sell a dirty Ore to China ! In fact if the Embargo continues how will all of these Mines that ship to China survive, if they can't get their Refined product back MP, ????

[swanvesta] 12/12/2020 10:37

NB PA's previous project - Berkeley Energia - was let out of the blocks yesterday, after the Supreme Court dismissed a critical objection. It looks to be one of the best Uranium developments around, and a supply crunch seems inevitable in the next couple of years. The Uranium sector has been on a run recently, so still some catching up to do?

[yumyum] 11/12/2020 23:29

China, I can understand you are very experienced in mining...but what you say makes you far smarter than Pensana...and frankly rather pointless. Not a good look tbh. Shall we wait for the BFS?

herlat1 - DELAYED BFS. MP Materials ! Lynas !

[yumyum] 11/12/2020 23:02

...and they said cost was about the same as stated earlier. We know the new resource is a little bit lower grade as well.

[yumyum] 11/12/2020 23:00

...and that DOES cost.

[yumyum] 11/12/2020 22:59

...it's more at the processing end ;-)

[yumyum] 11/12/2020 22:59

Fair enough China, but Pensana was not really lacking in resource (at all) before the upgrade was it ?

[chinasyndrome] 11/12/2020 22:27

Most Plant costs are not linear related to throughput, A 100ton truck is not twice the cost of a 50ton one, extending operating hours adds no CAPEX. It is not unusual to be able to tweak another 25-30% out of most designs. eg Adding a tertiary cone-crusher behind a Ball mill to crack any recirculating load is often a cheap addition.

All that aside,the actual cost of the Physical plant ie Crusher, Mill, Float tanks etc usually only makes up a percentage of the Total cost, Power and Water Lines, Roads, and other fixed Infrastructure, Labor, Crane hire and site civil works are all fixed costs largely independent of throughput.

There are ways, and at this stage of the proceedings a few extra dollars spent in critical areas can have dramatic effect on future throughput improvements.

[yumyum] 11/12/2020 14:02

Indeed swanvesta.

Re timing I see Paul Atherley has said re Humber refinery - “We have selected the site, we are working through the approvals process, which we hope to finish before Christmas, we will have our first employee on board in January and in the first six months of 2021 we aim to complete the planning process and build up to commencing construction in the middle of next year.'' www.business-live.co.uk/manufacturing/humbers-ferrous-attraction-pensana-chair-19437532

[swanvesta] 11/12/2020 11:58

How will they raise production without a bigger plant? And they say capex is in line with PFS.

[chinasyndrome] 10/12/2020 23:05

That is assuming Management are still following the PFS mine schedule, which was based on a much reduced Resource (ASX requirement),Since then the Longonjo resource has been expanded by at least 2.3X; So it is not inconceivable that the Mining rate could be lifted to around 3 million tonnes pa. Which could put output at around 6,000t NdPr/pa

[yumyum] 10/12/2020 11:27

Thank you swanvesta. I must admit it was not really clear to me . On reflection you must be quite correct. We will see much more clearly next month.

[swanvesta] 10/12/2020 10:42

Yumyum, TBH it's unclear to me now exactly what kind of product and quantity they aim to produce. The PFS had 55.9ktpa MREC with 7.5% 4,200tpa NdPr. Presumably the 16,000 tpa is higher concentration and higher value MREC, but what are the NdPr/TREC concentrations? The test work is reported to have NdPr @ 33.5% of TREC, but that doesn't help much. I would stick with 4,200 tpa contained NdPr.

[yumyum] 10/12/2020 09:02

China, by a few years I meant 2022 sometime, with potential to slip into 2023. We are currently in 2020. I saw the company saying 18 months to build (Oct20)and I do not expect FID/financing in place before q2 2021. They also need to build the refinery and fine-tune what seem to be two new processes. New routes tend to take longer than tried and tested old routes.

Anyway, first step....the BFS next month (assuming no further delays).

I am hoping Pensana will be the leading producer of NdPr in 2023, and expecting them to be that more certainly in the full calendar year of 2024. If it was 2022 as you say then that would be excellent. Anyway, that is why I am heavily invested in Pensana and hold only Pensana, and hold no other rare earth stocks, nor did I ever hold.

As I understand it Pensana are aiming to produce 16,000 tpa of high grade
NdPr carbonate - in 2022-23 approx (waiting for BFS and financing).

MP is aiming to produce 6,075 tpa NdPr in 2023. I am not sure if Lynas are planning to increase production from, say, 6,000 tpa NdPr in 2023.

China will remain the biggest producer but I am not sure if a single company (Northern Rare Earths?) would be bigger than Pensana.

[chinasyndrome] 09/12/2020 23:15

My mistake Q1 2022, although it could be Q4 2021 if they get a good run.