Pensana Share Discussion Threads

[dumbpunter] 31/3/2023 18:09

China almost certainly sold up last week.

[anthonyspencer1] 31/3/2023 13:43

Topped up today. It will work out in the end, they will find the cash, just timing don't panic.

[petralva] 31/3/2023 12:08

Moreover where's the king ramper China?

[firestorm911] 31/3/2023 11:18

They should be quick to raise money today. Why did they not do it when they found out they were ve

[firestorm911] 31/3/2023 11:13

As at the date of this report the Group has approximately US$0.2 million of
cash and US$9.1m of outstanding creditors in relation to suppliers and,
accordingly, the Group needs to secure funding to settle these obligations in
the immediate term. The Group is dependent upon the continuing cooperation and
forbearance of those suppliers until such funding is secured.

[firestorm911] 31/3/2023 11:11

Insolvent

"As a result of the timing mismatch
between financing and operational activities, the creditors as reflected at
period end were significantly higher than cash available."

[babbler] 31/3/2023 11:11

You went in at 29?

[pugugly] 31/3/2023 11:10

Personal marker at 29p after fall - To gamble WL.

[firestorm911] 31/3/2023 11:09

$200K left and still valued at £87m.

I am afraid to say single digits, and I am not saying sub 10p, more like 1p.

It's curtain time, too much debt and liabilities. $200k is not enough to have a bash after lent.

Regards,
F911
RMC

[fx analyst] 31/3/2023 10:54

These latest developments should raise more than a few eyebrows !

[mwj1959] 31/3/2023 09:18

PA a seller of dreams, but never delivering. He'll be feeling the pain too given his exposure, albeit he's been paying himself a healthy wadge in the interim. All along I've said this was option money (in ALK too). That remains the case!

[loglorry1] 31/3/2023 09:12

They have only $200K left and loads of creditors. Looks like a complete disaster to me. I doubt work has even started in Hull. How it is at this market cap I'll never know. Atherton has form.

[mikethebike4] 31/3/2023 09:07

Could be worse !

Lucky we are not involved in 'Lithium' from what I read

[mwj1959] 31/3/2023 09:02

What a surprise! One has to question whether this will ever get off the ground. Any potential funder has the company at their mercy. I sold (not enough) some on Wednesday at a small loss, but have reduced my holding further this morning. I've also reduced in ALK, where I'm still comfortably in profit, having sold a decent amount around £3. Net net probably making a small profit on the two investments. Still got beer money in both, but that's more than enough for me for now.

[mwj1959] 28/3/2023 14:47

I had a similar problem with then failing to respond to an email. No excuses there. I completely agree (and have frequently pointed out on the BB) that the market backdrop for raising significant amounts of capital remains challenging...and has got even more challenging given recent banking sector developments. While the project clearly has merits, that in itself is no guarantee that it will ever be delivered on. Hence I only have a very modest investment here. The same applies to PA's other project, ALK / TVL, where I am also invested, but where at least I've had the luxury to take some profits after the share's strong rally.

[raremurph] 28/3/2023 12:49

Hmm, it doesn’t bode well with the current banking and financing situation. PA is a decent promoter, but his communication with his smaller shareholders leaves a lot to be desired. I’ve only ever heard him mention his “large shareholders,” which suggests a general lack of interest in the likes of us. He has gone very quiet.The same. An be said if Pensana, who didn’t bother to reply to an email that I sent to them.

I would be happy to be proved wrong.

[mhssh] 28/3/2023 12:32

If the past is anything to go by, I am sure they will say everything is on track expecting to have finance in place "shortly".

[mwj1959] 28/3/2023 12:03

I've seen somewhere that Interims are due on Thursday (they were published on 30 Mar last year). Not seen anything on the corporate site to confirm as such. What they say with regard financing (let's hope they have something to say!!) has the potential to move the share price significantly either way.

[mhssh] 11/3/2023 10:59

From a cursory glance, yesterday's volume of 700k+ is circa a recent record. Last March there was a day of 1.6m and a few others beginning with a 7, but that's about it.

[chinasyndrome] 10/3/2023 22:25

What a blatantly "Throw away statement" that was, classic FUD; Please enlighten us as to this supposed 'record of non delivery of finance' ????

[mhssh] 10/3/2023 19:51

Point taken, although PA's record of non delivery on finance could work against him.

The current banking bruhaha cannot be helping (plus interest rate uncertainty), so we could be in for the long haul.

[mwj1959] 10/3/2023 12:44

Everyone trying to raise growth capital puts an "uber-positive" spin on the prospects of their business, so PA's optimism will be nothing new to institutional investors. As I've said before on this BB the problem the company (and most other companies in a similar position) have is the sharp rise in borrowing costs alongside more cautious investors i.e. lower liquidity. Until we see this improve its going to be a struggle to raise large amounts of capital, which is what PA needs for both PRE and ALK. More support from the government would clearly help alleviate this, but their hands seem to be firmly in their pockets most of the time. Liz and Kwasi, for all their many sins, would have likely been much more generous.

[mhssh] 10/3/2023 10:05

I don't disagree, but PA does put an uber-positive spin on most things, which I suspect financiers take with a pinch of salt. Hope I am wrong.