Pensana Share Discussion Threads

[mhssh] 07/5/2023 11:36

Announcement 28/4:

"..............and have each requested and been granted the right to participate in any future equity or other fundraising undertaken by the Company on a pro-rata basis for the next two years."

[mikethebike4] 04/5/2023 10:59

lot of buying today - I wonder ?

[mikethebike4] 03/5/2023 09:49

Interesting video on rare earths especially from 20mins onwards

[dumbpunter] 02/5/2023 20:04

>>billed early and in the UK
Paying money to subsidiaries and paying overseas license and maintenance fees are not vatable

[dumbpunter] 02/5/2023 20:01

A nominee account is not a shareholder.

[babbler] 02/5/2023 13:18

Do your researchAS AT 19 APRIL 2023 THE TOP 20 HOLDERS OWN 224,691,469 SHARES REPRESENTING 88% OF PENSANA'S ISSUED CAPITAL.

[mikethebike4] 02/5/2023 12:20

If they have any sense they will arrange for large items of expenditure to be billed early and in the UK

[dumbpunter] 02/5/2023 11:20

The vast majority of their expenditure is overseas and in wages, neither of which will have vat to be refunded.

[mumble1311] 30/4/2023 20:45

DP, from UK government “There is no maximum amount you can claim, but the UK has set minimum claim amounts that can be refunded. Your application should cover any VAT you're reclaiming over a period of at least 3 months but not more than the full prescribed year.”.

The reference was to receivable expected in the coming days after the Friday announcemen. It was in the shareholders call first week of April, a transcript of which is in the public domain, but which you couldn't find.

You are correct, that they are refunded quarterly. The earliest that Q1 (Jan to Mar) can be paid is April. Which it was in this case.

[mhssh] 30/4/2023 20:21

Seems to me that M&G and Angola are so deep in that they will not let Pensana fold. But that does not mean a huge amount to us punters, as if the company is in dire straights (it already is) these two shareholders will gobble it up and we will be left with a fat 0

[dumbpunter] 30/4/2023 19:42

Vat is refunded quarterly and cannot be more than a million.
But how would you know how much it is?

[mumble1311] 30/4/2023 10:37

There are some substantial shareholders, but nowhere in the same league as M&G and ASWF. All within the nominee accounts. I would say the free float is some where in the region of 175 million once the new issue is formalised. Lewis, regarding the bills immediately payable, it is in the region of 2-3 million. The rest is long term debt and not due as yet. This immediate liabilities will be mostly covered by the couple of million pounds of receivables due in from HMRC (VAT refunds). Thus, the cap raise should mostly be available for current expenditure.

[dumbpunter] 30/4/2023 10:00

>>With 90% of the equity held by the top 20 shareholders

That's not true M&G and the Angolans are the only two major shareholder, according to MorningStar and the FT.
Mind you they are going to hold 36%

[mikethebike4] 29/4/2023 12:29

Just imagine the reaction when the main financing is achieved

[wiseacre] 28/4/2023 15:00

Yes and there has been a panic rush to cooer today

[wiseacre] 28/4/2023 14:59

Yes and there has been a panic rush to cover today

[lewis winthorpe] 28/4/2023 14:15

How many times I've I heard that argument? All the way down from 250p.Some is wrong, who is it?

[wiseacre] 28/4/2023 13:56

With 90% of the equity held by the top 20 shareholders the free float is very small and market makers have constantly been panicking small shareholders by marking the price down so it has largely been a case of the tail wagging the dog.

[mhssh] 28/4/2023 10:58

I remain invested but it all does seem rather a wing and a prayer. If looking for positives, M&G must know that at some point they will have to put up a lot more money to save a big dilution, and are prepared to do so i.e. they are confident as to the future viability of the project. There again, as others have said, institutions do get these things wrong, with the whole house eventually tumbling down.

[mininginvestor] 28/4/2023 10:45

Pensana going nuts ! Great work by these guys

[jameshendrix2023] 28/4/2023 10:39

Check out Tpx rns fast

[lewis winthorpe] 28/4/2023 10:39

Correction 10 mill

[lewis winthorpe] 28/4/2023 10:38

Cameron, that's not true unfortunately. 20 mill gone paying bills immediately.The possibility of a second tranche of funding in the form of equity and /or a debt-for-equity convertible note is currently being considered. From the RNS in march