Pensana Share Discussion Threads

[wiseacre] 28/5/2021 10:26

let's get real. A determined seller has been pushing down the price ahead of, what everyone should know, the forthcoming share placing. But don't be spooked. Usually the price fixed for most equity issues is based on the 30 day average share price which for Pensana currently stands at over 140p. Looks like a buying opportunity to me so fill your boots!

[scaramonga88] 28/5/2021 10:12

Well at least we know you are a disgruntled investor now. Investing in the junior resource space is high risk, and few companies are successful. You would be hard pushed to find a CEO with over 30 years experience who hasn't been through the mill with at least one business. Amazing that you are trying to compare Pensana to a failed Australian uranium business from 20 years ago. Your posts are becoming increasingly wild but entertaining

[skijapan1] 28/5/2021 09:25

From CS on HC My apologies to all for not spotting this earlier:

Todays price for N52, NdFe Blanks is US$40.72kg
On 17th March when RE prices began to slide, those same N52 blanks were US$41.55/kg, corresponding to a 2% easing

Over that period Nd has eased off roughly 25%,

Which goes a long way to explaining the slide in Rare Earth Mining Companies.

HOWEVER, Pensana is more than just a Miner, our BOD made that decision to become vertically integrated in the whole Magnet manufacturing process, hence Saltend, and eventually the whole recycling story.

So while share price contraction can be explained by the drop in NdPr prices for most RE prospects as they are set by the SMM REO prices, Pensana should not be influenced anywhere near as much.

IMO Our share price has been inappropriately discounted over the last two months !!!!

[scaramonga88] 28/5/2021 09:24

Mask off...

[hamiltonengineering] 28/5/2021 08:52

A willingness to take on high risk mining projects undid Murchison United in 2002, and its share price plunged 95.85% between January 2nd and November 29th. The fall won Murchison the title of worst performer on the Australian Stock Exchange’s All Ordinaries Index. But in an unusual step Chief Executive Paul Atherley even made a public apology and promised to make good. “Anybody who destroys $150 million of shareholder wealth has to go and work hard to rebuild confidence” Atherley said.

This article appeared in the Australian Finacial Review in December 2002. Had Atherley’s cv on the Pensana website mentioned his roles at Murchison, Leyshon and BE a prospective investor might have been prompted to look at his record and would probably have concluded best not touched. You can put lipstick on a pig but it’s still a pig.

[chinasyndrome] 27/5/2021 23:33

Tend to agree, looks suspicious but not actually dumping.

That Share holders only saw the BP summary seems to be missing most peoples realization.

[lenses] 27/5/2021 21:35

New name, lots of words but no clue.

BP.

[roundthetrap] 27/5/2021 20:06

Surely what is needed is the production of a BFS which was promised to the market months ago and the absence of which only adds suspicion to Pensana’s lack of definitive information. The BFS will be needed for any reputable financer and will have to include a resource(MMI), mining reserve(PPP), processing route, metallurgical recoveries, detailed capex opex, infrastructure detail, tailing disposal etc which is the norm for any major project, and which the experienced management team will be aware of. Glossy slides and hype on the future need for rare earths, magnet use etc do not prove that there is a viable project in Angola. The Business Case was light on data (9% contingency for a project in Angola that has not produced a Definitive Feasibility Study??) and will not have financiers knocking on the door.
The company and board is not respecting its investors by their lack of reporting to the market. FEED could just mean anything- sizing a crusher and conveyors?? but does not mean there is a bankable project behind it.
They can easily stop all the speculation and suspicion by providing the needed info to the market, and demonstrating strong corporate management.

[chinasyndrome] 27/5/2021 00:40

YETi, You have still not advised us of who your Masters are ?

Other than your personal grudge with PA, Why are you so keen to trash a Project that is needed by the West ?

[value viper] 26/5/2021 20:07

No BFS - straight to FEED

[rvsy2] 26/5/2021 19:43

A volatile high volume day - it seems to me a concerted effort by some to depress the price in the hope of disrupting the fund raise. However this doesn't seem to be effective - see the two 300,000 lots of shares bought in close order during the day.

I see some posters are still banging on about the BFS and am surprised that the penny hasn't dropped that the business plan supercedes the BFS. Also did't I read recently that Wood Group are preparing the FEED ( front end engineering design) of the project.A FEED requires a much more detailed project definition than a BFS.

[yumyum] 26/5/2021 15:58

I am here. I sold 250k shares a few weeks ago. Still hold approx 600k shares. Wish I had sold more of course. I remain concerned at the continued lack of BFS as well as the company's lack of communication about any action they are doing anywhere.

[scaramonga88] 26/5/2021 15:05

Whats happened to YumYum?

[hamiltonengineering] 26/5/2021 12:37

I agree with your analysis of the situation save for two points. Firstly this stock is not being shorted. The price is falling for many reasons but a lot of sellers will still be taking profits, not cutting losses. This process will accelerate. The second point is that nobody will touch Angola in the current economic and political climate, the sovereign risk is too high. I cannot see any financing solution plus there is still a major question mark as to whether the company has a bankable feasibility study. Most within the industry think not.

[74tom] 26/5/2021 12:22

If Pensana approached you to make a multi million point investment in their high risk project, why would you be interested in investing at the current level?

Between October and December 2020 the share price traded between 65-75p, from that point until mid February, fever gripped the market and prices everywhere went mad. Slowly, things are returning to normal, but the price is still around 60% above the mid December level...

People are buying because they think it's cheap vs it's year highs, the problem is these year highs were bonkers. PRE listed at 18p a share last July, it was highly promising, but like all REE projects it needed big capital to get into production & processing. Nothing has changed in that regard. It's 400%+ up on that level, so the big boys may want in at way below 70p...

The longer financing takes, the further the price will fall. City shorters will ensure this is the case.

[chinasyndrome] 26/5/2021 11:30

YETi you are still dumping on Pensana in your pathetic attempts to get even with PA !

You have so far FAILED to come up with any verifiable facts in your attack, I am beginning to suspect that you may be associated with those two State sponsored morons who run REO out of Shanghai/Singapore; because the only entity that would benefit from Pensana's discomfort are the Chinese in maintaining their RE Monopoly.

So please advise everybody who reads this forum, just where your loyalties lie, Are you just a misguided Climate denier or a Quisling for some Beijing masters ? Or are you just a plain 'pain in the ass' who can not see the big picture, and just wants to become an anomalous Troll ?

[buffetbarr] 26/5/2021 04:20

@hamilton you are still definitely a loser 😂

[hamiltonengineering] 25/5/2021 22:53

Take the cash in the last balance sheet, add the Angola placement proceeds, deduct the cash burn. Pretty simple maths, what net figure do you get??

[scaramonga88] 25/5/2021 21:45

Hamilton good try :) they are well funded for bau ops/expenses - the Angolan sovereign wealth fund made a $8.6m equity investment back in October. I don't think investors are under any illusions - they have to raise money to build Saltend and Longonjo and the finance package they are currently negotiating will have to include some equity. All the best with your actual investments :)

[value viper] 25/5/2021 20:20

Unless a strategic investor comes in

[hamiltonengineering] 25/5/2021 16:48

It was China’s ridiculous claim that Pensana would have a patent on their world beating newly discovered technology. Anyhow thanks for the upgrade from sheet metal worker. If you look back at my posts you will see that I have accurately predicted exactly what will happen to the share price. One of Pensana’s next problems is cash. They’re running out fast. They won’t get a loan from anyone so that leaves placement or rights issue. At a current price of around 120p, one would figure on the raise being at no more than 90/95p tops. So that’s where the share price is heading. So am I the loser or are you?!