Pensana Share Discussion Threads

[hamiltonengineering] 12/10/2021 15:13

China you may be 70 years old but you shouldn't be so harsh on yourself. Gullible maybe but vulnerable too?? Pump and dump might not be bad for Pensana, for the last six months it's just been dump!

[chinasyndrome] 12/10/2021 02:52

Sound Familiar ?

The corporate regulator has taken the unprecedented step of posting a message in a Telegram chat room to warn traders they may be breaking the law.

In a post on Monday at 9.32am on a newly formed chat group called “Pump and Dump Organization,” an account named ASIC posted that “coordinated pumping of shares can be illegal”.

“We can see all trades and have access to trader identities. We’re monitoring this platform and we may be investigating you. You run the risk of a criminal record, including fines of more than $1M and prison time by being involved.”

The post was not taken seriously. One user said the post was sent by someone “from another telegram group trying to spook people here. ASIC don’t send messages like this.” Another said it was “fake ASIC.”

But an ASIC spokesman confirmed the post was genuine, marking new ground for the corporate watchdog.

“As has been foreshadowed, ASIC has been concerned at the increasing amount of so-called ‘pump and dump’ activity, which is driven on a number of social media platforms and which will ultimately prey on the vulnerable and the gullible who participate,” the spokesman said.

[ioon1] 11/10/2021 16:51

Rejoined the PENSANA TG group. Thanks for Mumble & Tricky !!

Buffet on "forever shares" believes in "Let us see the growth of a business over long term if they have the right fundamentals." However, most fund managers rarely touch the principle of "forever shares". They believe there is secular life span for every sector of business that is based on an active research for balancing and de-risking.

[lenses] 11/10/2021 10:37

In the bin

[chinasyndrome] 10/10/2021 23:50

Roundtrap, That has got to be the stupidest suggestion I have ever heard !

Nobody in their right mind would build a road to a mine without being absolutely certain that they can afford to complete the build the requisite processing plant. That would be inviting disaster as the Company would then be be broke with no guarantee of obtaining further capital. It would be akin to taking a fishing trawler out to sea with only enough fuel to get it to the fishing grounds !

Sure you and all the other down-rampers are now Shareholders, that was the whole aim of your Strategy ~ Sell short, create panic, buy back in cheap. That you have now changed your story from "Pensana is a bad investment" to "Pensana needs new Management" confirms this. But, in no way does it justify your claim of "My loyalties are with PRE". On the contrary it indicates that you have now reached the point where you are about to attempt to convince (your fellow) Shareholders that you could manage better that the incumbents.

Lets bring this back to basics: You want a piece of Longonjo, to do so you need to buy my PRE Shares (but don't want to pay fair price). I want Longonjo to go ahead, AND I am perfectly happy with the way it is proceeding under current PRE Management so I see no reason to change. Why should I sell or change my Preferences when the alternative you suggest is clearly a bunch of incompetent, greedy, parasites who will certainly GUT the company and sell off the Longonjo assets to the Chinese or Yanks ?

I and others are certainly not happy with the way you and your cronies have spread Fear, Uncertainty and Doubt, destroying the share price to achieve your aim. But please be assured that there will be a reckoning once these Manipulators have been identified.

[mumble1311] 10/10/2021 12:26

Roundthetrap, what is your point, are you suggesting that the Angola project should have been financed piecemeal, ie as itemised in the BP. (and i agree the mining infrastructure is identified as costing $38 million in the BP).i also agree, that in the grand scheme of things, this is not a significant amount).

if that is the case, then the only market for the mineral extracted from the mine would be in raw form, without any processing. for which the value is peanuts, possibly less. the only potential market for this would be China. China has publicly declared that they want reduce their reliance on locally mined ore, instead focussing on refining only. this is potentially as a fallback position, but not the project that i personally signed up for. but maybe what you did.

I know the project will require two lots of project finance one for each corporate entity, ie Longonjo, and Saltend. but why would any one want to complicate the issue further than they have to, when the whole project is reliant and sold as an integrated supply chain.

[mumble1311] 09/10/2021 19:53

RVSY2 Believe me when I say I have done my due diligence probably far more than anyone else and I have satisfied myself as to the credentials of the project. I am also able to put 22 years experience in west Africa of which the last 16 years were in appraising many multi million dollar projects, getting involved in the various financing options, setting up corporate structures and successfully running the finished product. This project isn't risk free. But I have been able to find out any and all information I have required. For me the reward to risk is far more than Acceptable. As I said in my previous post. There were plenty of opportunities to get out of the company at a far highter price the now. Nothing has changed from the advised time frame as far as I am concerned. As kme again in 6 weeks time. Maybe I'll be thinking differently. But if you believe that the answer is to dig a hole for $38 million Dollars and sell the Rare earth ore for a pittance, then I assume you sold any shares you may or may not have owned a long time ago. In which case why are you commenting here

[rvsy2] 09/10/2021 19:19

What nonsense Mumble - are your loyalties to Pensana or to you and your family?If to the latter you should be concerned, as was stated above, by the approach and delay in funding the project. I am concerned about the ability of the company to secure finance from the ATF before there is assurance of a supply of feedstock from Angola to Saltend.

[mumble1311] 09/10/2021 15:14

Well Roundthetrap, that certainly shows where your loyalties lie

[roundthetrap] 09/10/2021 14:48

China. The BP cost for the Mine & Infrastructure Devlpt is $38M. Category -small, by any standards. They could not get the project finance - maybe the Great Wall will have to come back into the picture. My case is rested whilst we wait to see what transpires in the next 6 weeks, and the elephants can now stamp their feet at site. There is no guarantee Saltend will expeditiously get the necessary Govt support but in the interim get Longongo moving which should produce a saleable product irrespective of the timeframe for Saltend.

[mumble1311] 09/10/2021 07:05

Your honor i contend that Mr Hamiltons point is irrelevant, he knows that the discussion was referring to Longonjo on its own, before Saltend was part of the Project at the end of 2020.

PRE did get offtake and financing offer from Great Wall within the time frame that the honorable gentleman mentions. But the plan changed. As it was considered that more long term value for shareholders could be gained by taking control of the offtake closer to the end user. This was made clear at the end of 2020 beginning 2021. Shareholders had plenty of time to vote by selling their shares at levels higher far higher than when this new plan was put on the table and then progressed.

Maybe the risk changed as well. But from the end of 2020 when I and many others invested. PRE has not deviated from their publicly made intentions. Time will tell whether the decision was correct, but Mr Hamiltons accusations of misleading the PRE shareholders are without grounds

Your honor, I move to dismiss Mr Hamiltons spurious allegations, as they are groundless and mired in Malicious intent.

[chinasyndrome] 09/10/2021 00:18

Roundtrap, That has got to be one of the weakest arguments I have ever heard !

Since when did the Start-up size of anything, matter ? I am sure:- Steve Jobs, Bill Gates, Mark Zuckerberg, Elon Musk, Richard Branson etc etc are rolling in the aisles !

Speaking of which, have you noticed what those abovementioned have in common ?

Vision, Innovation, Determination and not afraid to try something different, Result some of the biggest companies in the World

[hamiltonengineering] 08/10/2021 20:49

The Company has engaged with a number of well established mining financial institutions for the provision of a mezzanine finance facility to take the project from PFS through DFS by the middle of next year. The objective is to have these funds available to drawdown by January 2020.
Pensana announcement 2nd December 2019.

Pensana has engaged ABG Sundal Collier a leading Nordic Investment Bank headquartered on Oslo, Norway, to progress the debt financing.
Pensana announcement August 2021.

No further questions your honour.

[hamiltonengineering] 08/10/2021 20:48

The Company has engaged with a number of well established mining financial institutions for the provision of a mezzanine finance facility to take the project from PFS through DFS by the middle of next year. The objective is to have these funds available to drawdown by January 2020.
Pensana announcement 2nd December 2019.

Pensana has engaged ABG Sundal Collier a leading Nordic Investment Bank headquartered on Oslo, Norway, to progress the debt financing.
Pensana announcement August 2021.

No further questions your honour.

[mumble1311] 08/10/2021 17:11

See Hammy and co are bringing the heavyweights in!!!!

[roundthetrap] 08/10/2021 16:25

China. So you are President, Secretary and Treasurer of the PA fan club - hope he is looking after you. It must be uncomfortable walking around with your head up your a..e. When I talk of a "small" mining project I think of the Capital Cost to bring it into production. The Business Plan for Longongo, even allocating the whole contingency, indicated $300M - that in the world I have operated (and been responsible for far bigger projects) is small, and if they had followed the boring route of a BFS, whilst the elephant was in the room, would be financed by now (given numbers that satisfied the city or alternates). Unfortunately the Holistic Innovative Vision did not produce any finance and has left them at the mercy of the Nords. Who mentioned additional drilling - you are a mining engineer, as am I, so it is easy to go from a MII resource to a PPP reserve as long as you have done the basics.I was amazed they actually said that SRK had been commissioned at this stage as any self respecting mining engineer would realise these issues should have been finalised months ago.
I think the thick people are those who do not recognise the FACT that in Oct 2021 we do not have a financed project.
HIV to-date has not got the people we need to join the party!

[hamiltonengineering] 07/10/2021 20:11

China, are you really that thick? Oh,wait, didn’t you go to Ballarat?

[chinasyndrome] 07/10/2021 07:57

Hamilton, At last you are starting to show your Colors and the reason for your constant Down-ramping attacks on PA. You are aiming at a take-over ! However you have just shot yourself in the foot !

A takeover bid implies that those wanting in, consider the project to be sound, Seeing as you have been pushing your trolley for the last six months clearly it indicates that you and your mates have been deliberately Manipulating the share price to 1) Acquire a meaningful parcel of shares at reduced prices, 2) Sow dissent amongst Shareholders.

The AGM is in November, So you will have to circulate your proposal to shareholders by the end of this month, I can't wait to get it so I can shove it where the sun don't shine.

Don't count your chickens, I for one will launch a class action against any such move.

[hamiltonengineering] 07/10/2021 05:48

Roundthetrap I have at last found someone who has exactly the same view as me. Your post could not be a better summary of this fiasco. The only thing I would add is why on earth is Pensana presenting itself as a potential magnet producer? Surely surely the entire focus should have been to get finance for the mine and to do that conventionally? Saltend is just a massive smokescreen. All the signs are there, the loss of the non-execs, a placement through two fringe brokers that has shed 40% in weeks, this Norwegian throw, a stream of RNS’s designed to try and hold the share price up whilst this is being explored. I think we are very close to last chance saloon. Replacing PA and bringing in someone credible would be the right call.