Pensana Share Discussion Threads

[swanvesta] 08/2/2021 10:24

In my experience, a business plan is required to obtain a loan. Therefore it does not necessarily include financing detail, though I guess it might. AIUI they now have two separate projects to coordinate - the refinery in UK and the mine/plant in Angola. Which of these (or both) will the business plan cover?

[swanvesta] 08/2/2021 10:19

Amazing lack of clarity.

[rvsy2] 08/2/2021 10:18

Mt262626

PA didn't say anything about issuing the BFS whether separately or with the Business Plan.

I don't think the BFS will be issued. As I pointed out in earlier posts a BFS is usually prepared to give financial institutions the information they need to decide whether to provide finance for a project. In my opinion a business plan should include details of how a project will be financed and would reflect discussions with potential lenders - i.e. a step further on the road to implementation of the project.

[mt262626] 08/2/2021 09:53

Hi Rvsy2,I was on the call this morning, but only half-listened in unfortunately as I was on another work conference call... I heard PA discuss the difference between the BFS and Business Plan, but didn't catch whether he said the BFS would be issued separately to the Business Plan or at the same time ?

[rvsy2] 08/2/2021 09:23

Have just listened to the AGM when the resolution to change the company name from Pensana Rare Earths plc to Pensana plc was passed - details of voting will be posted later.

Paul A dealt with four questions about the difference between a BFS and | Business Plan which had been previously submitted by email. He highlighted the huge difference between MP Materials market cap of around US$ 5 billion and ours and also stated that the business plan is due to be issued by the end of February.

[odsjp] 04/2/2021 10:00

Or it could be a combination of...
hxxps://mineralprices.com/china-rare-earth-shares-surge-after-burma-coup/
hxxps://mineralprices.com/autos-need-finite-rare-earth-critical-precious-metals/
hxxps://mineralprices.com/will-the-world-see-a-rare-earth-contest-between-china-us/

[lenses] 04/2/2021 09:29

Strong rebound. This is why:

[robbiekeane] 29/1/2021 13:40

fair enough

[rvsy2] 29/1/2021 13:35

robbiekeane
I have said my piece and see no point in adding to it .

[oapknob1] 29/1/2021 12:42

Wouldn't be surprised to see dilution after ASX delist, name change, before any update.

[robbiekeane] 29/1/2021 12:33

rvsy2 he never specified a date but he did specify "by the end of January" after previously specifying by the end of October. Appreciate circumstances change, but at least give good notice of such. Do you think it's right for the Company to set deadlines and then ignore them? If I did that with my companies I would be hauled over the coals and quite rightly too. If they do it for timelines what's to stop them from doing it with grades, prospects, business plans etc. It sets a bad precedent.

[rvsy2] 29/1/2021 12:08

robbiekeane

I don't understand how you can say Paul can't be trusted and then tell us you are in this for the long term.
If I lost confidence in the chairman of a company I would sell my shares forthwith.

Paul never specified a date when the updated BFS was to be published.

As pointed out in my earlier post today, a BFS is a step during the development of a project and is usually a prerequisite for obtaining finance. Today we were told that the company will issue their business plan ( which would include details of how the project will be financed) in the next few weeks. That is of much greater importance than a BFS - archives of mining companies are full of BFSs for projects which couldn't be financed - I worked on several such projects during my career.

[thelung] 29/1/2021 12:08

I don't see why they should be 'ashamed'....? I think they should be fairly pleased with the path they appear to be on, but keeping the market updated is important.

[thelung] 29/1/2021 10:45

Seriously why wouldn't you want the company to update the market on an expected deadline which isn't going to be met, regardless of any delisting ?

[robbiekeane] 29/1/2021 10:13

It's all about trust China - I'm not a trader, I'm here for the long term. I'm not the only one thinking it, the broker just called me to "re-assure" me as it appears many others are disappointed also...

[chinasyndrome] 29/1/2021 09:54

Robbie, after reading everybody else's comments on the UK BB's I think you are in a minority of 'one' ? Quite a few Australian Day Traders are not happy, especially those who thought they could double their bail out price following the BFS. There again it is their own Day Trading mates who are dumping (Average parcel is still ~ 2000 shares) so they have a problem of their own making.

Seriously why would you want the company to release the BFS/Business plan before the Delisting ? It would only give the Day Traders one last opportunity to milk the Market Cap ?

Yes it is annoying, even a little painful, but as they say no pain no gain !

[robbiekeane] 29/1/2021 09:35

To mislead the market once about the timing of the BFS is a mistake, to do it twice is an absolute display of amateurism of the highest order. The Company has built high expectations, if you can't meet a deadline then give plenty of notice, can Paul be trusted, what else is he lying about? - very poor form.

[rvsy2] 29/1/2021 09:22

Scaramonga88

Agreed that the ASX de-listing is causing short term volatility.
I look forward to logging in to up coming AGM on 8 Feb.

[scaramonga88] 29/1/2021 09:12

Rvsy2The update summarises remarkable progress in the quarter with lots of additional exploration work ongoing plus the planning application for the refinery.Reference to the BFS appears to have been deliberately excluded and as you rightly say they discuss a business plan, which suggests the BFS is complete and ready to go.Dropping the BFS now would pump the share price in the short term but with the ongoing volatility from de-listing I think its a sensible decision from management to hold off for a few weeks until thats complete (if thats even the plan). The price at the moment represents a great buying opportunity IMO and l suspect we will get clarity from the business in the next few weeks - who knows they may even surprise us all and release the BFS..

[rvsy2] 29/1/2021 08:50

I noted the quarterly activities report did not mention the bankable feasibility study (BFS).

However the first item in the report said the business plan for establishing the
world's first sustainable mine to magnet metal supply chain is well advanced and is expected to be reported in the next few weeks.

A business plan is the next stage of project development after the BFS.

The BFS is a document which is suitable for submitting to banks and other financing institutions. However a business plan sets out the proposed financing plan for a project and implies that discussions have been held and financing terms agreed.

This will enable the company to move rapidly into full implementation of the project .

[oapknob1] 29/1/2021 08:40

Pumped on BFS. How low is this drifting ?

[scaramonga88] 27/1/2021 15:34

Last chance for sub £1???

[rvsy2] 27/1/2021 09:56

I think " the market" is happy enough ( going up 5 times in the last 6 months is pretty good as Larry David would say)

[odsjp] 27/1/2021 09:52

If the BFS doesn't come this week, I would at least expect the company to issue an RNS tomorrow or Friday stating when it will be released and some titbits.

That would just be common sense and keep the market happy