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PRE Pensana Plc

0.00 (0.0%)
Last Updated: 08:00:18
Delayed by 15 minutes

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Share Name Share Symbol Market Type Share ISIN Share Description
Pensana Plc LSE:PRE London Ordinary Share GB00BKM0ZJ18 ORD �0.001
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 31.00 1,340 08:00:18
Bid Price Offer Price High Price Low Price Open Price
31.20 32.70
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Miscellaneous Metal Ores,nec 0.00 -10.38 -4.40 - 88.41
Last Trade Time Trade Type Trade Size Trade Price Currency
08:53:19 O 736 32.325 GBX

Pensana (PRE) Latest News

Pensana (PRE) Discussions and Chat

Pensana Forums and Chat

Date Time Title Posts
20/9/202309:15Pensana (Multi Billion Pound Business in the making)650
20/10/202215:22Pansana Rare Earth PLC Angola 20201,874
08/3/202209:24Pensana - Research for the intelligent7
03/11/202114:48Beware Excellance threads-
20/10/202109:04China floods to cut NdPr production4

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Pensana (PRE) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-09-28 15:35:0831.0010.31UT
2023-09-28 15:30:0032.408025.92O

Pensana (PRE) Top Chat Posts

Top Posts
Posted at 11/9/2023 10:54 by mhssh
I think I posted this before, so I may be repeating myself. What perplexes me is that PA had 13.5m shares (I guess granted free at the start of the project, or at 1 or 2p).
He then presides over almost the demise of the company (14p recently) yet then buys another 1m shares for himself at an average circa 20p. If he has share price-sensitive information which is not in the public domain, then he should not be buying shares, and if he does not then why put in another £200k of your own cash to a project that has been on the ropes for most of its existence?
Posted at 07/9/2023 14:58 by wiseacre
Must be getting close to the funding of the mine development. Hence today's rise. Believe the placing price agreed by the bank is more than double the current share price. Suggest you fill your boots!
Posted at 05/9/2023 12:31 by dumbpunter
>>share price is dropping if the news is so positive
Buy the rumour, sell the news.

If you want to assign intelligence to the market, good luck.
Posted at 05/9/2023 11:53 by h1tch0
Why don't you go spend some time figuring out why the share price is dropping if the news is so positive for them! Explain that Plump dumper.
Posted at 09/7/2023 16:09 by roundthetrap1
Mumbles. The $80M is still subject to DD but one would hope at this stage with the FSDEA commitment it should just be box ticking. PRE are not in a position to dictate investment terms. I believe a key statement of the RNS is "The purpose of the proposed investment is to facilitate the immediate development of the Longonjo mine and to provide the necessary support for the proposed project debt facility". It is FSDEA support for the project (Longonjo), not Saltend. Once work on site gets underway and visible progress made, it could help PRE in their discussions with the UK Govt for support for Saltend, which at the moment seems lacking. There seems no doubt that FSDEA have made the short term outlook rosier for shareholders. PRE should now table the economics of the Longonjo development as a stand alone project together with a construction timetable.
Posted at 08/7/2023 03:39 by mumble1311
Just been posted on LSE, The facts are: The actions in the last RNS are happening - 15 miilion in the bank and being used in Angola 10 million in the PLC account, covering the immediate liabilities and funding G and A costs ABSA loan approved pending outcome of Due diligence. (The uncertainty) A funding arrangement for Longonjo where the equity part of the 80/120 million is in place The company is not falling over any time soon. Regardless of past performance and I’ve been critical in the past, but always focussed on whether the outcome despite the missteps is likely or not likely. At the moment the project has never been closer or more likely to happen. Whether that is due to the Angolans taking over the show or not Pensana still own 85% of Ozango. If the Angolans wanted to play hardball they wouldn’t have fronted the 5 million along with M&G after the disaster of the interim (how in hell that got released in the way that it did still baffles me). Supporting the view that they have confidence in the local LJ team headed by Tim George and their ability to execute the project. The above does not justify the current price action. I subscribe to the view that there has been a flood of shares onto the market from leveraged shares being closed out. Ie Shares purchased on credit with the hope of making a quick killing. The facilitators of these arrangements will never take risks, once the collateral shows signs of being underwater the position is closed out. This current debacle is the fallout from the share price collapse after the interim, and the consequent erosion of the collateral that was put in place and the inability of the holders to meet the margin calls. The market will settle, because there are NO reasons as far as the company progress is concerned or any insolvency questions to justify the current position. So it must be another reason. In which care it will resolve itself SOONER rather than LATER
Posted at 07/7/2023 16:19 by roundthetrap1
So FSDEA finally told PRE "use it or lose it" They, and presumably M&G, got fed up with the promotion and BS of Saltend and said develop the asset you have rather than promote a pipe dream.Get rid of the photo shoots and start mining! PRE had to ditch the BFS because they did not have a reserve (subsequently produced in August '22)and told the gullible that FEED was the way to go. But now they claim the reserve was part of the Longonjo Feasibility Study. If there is a FS, post the relevant detail on the website. Why does the project need more due diligence? Allegedly they were near to finance two years ago - surely ABSA et al have all the info they need. More mandation? The PRE Board and management have lost any credibility they might once have had - no one has been involved with the successful development of a project.In April production was 45000tpa but now it is 38000tpa but with the same 4400t of NdPr Ox.??? PRE Board and mgmt need to recognise their duty is to shareholders and focus on delivering a project!Can TG elaborate exactly how Trafiguras recent announcement will benefit PRE in the next 24 months.
Posted at 01/12/2022 17:15 by mwj1959
Some more detailed comments

A key point that I took away from the Q&A session was that we need to look at Pensana as a two project company - Longonjo is the downstream company and Saltend a midstream company. Both can operate completely independently of the other, are not dependent on each other and are broadly speaking being financed as such. Longonjo can sell into the worldwide REM market, while Saltend can buy REM from elsewhere. But the value to Pensana, according to PA, is primarily in Saltend being developed as margins are likely to be far higher there (60 - 70% EBITDA margin) versus Longonjo at a 10 - 15% EBITDA margin. So the company could exist just with Longonjo, but the icing on the cake comes from Saltend.
On financing:
Saltend - As posted earlier the bond part of the $250m fund raising is not progressing at present and won't do so until the board feels market conditions are more favourable (i.e. the cost of funding are more reasonable - what that exactly means is hard to interpret, but PA was saying that if they had raised the money in the past couple of months it would have cost mid teens % with conditions attached, such as the interest payable being put into an escrow account. Clearly we're not going to get back to the sort of mid to high single digit levels seen 6m+ ago, so I would presume something in the low double digits, 10 - 12%? would be acceptable). So, nothing before Q2 in my opinion. As far as the other $75m goes there continues to be discussions with a whole range of strategic investors (PE, hedge funds, closed end funds, royalty companies etc.) with a broad range of instruments being considered, such as convertibles, royalty payments etc. I didn't ask whether all the moving parts of the financing needed to be completed at the same time. Overall, it is clear that PA was far too optimistic in the Crux interview, which he freely admitted.
Longonjo - A very different project financing challenge, but also likely an easier one. Raising the bond / loan package, which will be guaranteed by UK Export Finance, is being co-ordinated by ABSA, who are speaking to three bilateral government agencies, two South African and one American. The level of interest rate is not subject to the vagaries of the bond market and as such a much more competitive rate should be achievable here. Discussions are progressing faster than thought and are in their final stages. So, takeaway here is more positive than for Saltend.

Putting the two together and the obvious conclusion is that we're not nearly as advanced in the process are some thought and those who voiced concerns were right to do so.

Given this far from ideal situation someone (definitely of the disgruntled investor type)asked when the company would run out of money. A valid question to ask. PA said that it wouldn't run out of money because there were supportive shareholders, who would continue to fund the company. But there would need to be a fund raising in Q1, unless some sort of miracle happened on the financing front. How much would that be? The Q wasn't asked, but $10m was raised last time around in August. How the burn rate has changed since then I don't know.

The state of the share price was also raised, which PA addressed by showing side 26 in the AGM presentation (hxxps://pensana.co.uk/wp-content/uploads/2022/12/AGM-Presentation-1-December-2022-.pdf). He said that what we were seeing was "typical" for a company such as Pensana. It's all about the Lassonde Curve! Private investors, focused more on ST returns, disgruntled by the lack of progress on financing etc. having been selling out, whereas institutional investors, far more focused on the LT upside, were looking to buy at current "distressed" levels. Time will tell whether II are smarter than PI!

My overall conclusion is that while the market fundamentals underpinning the company continue to be extremely attractive and the potential upside for equity investors remain substantial over the LT, but only if financing is achieved. Ultimately I think it will be (even if ultimately they have to accept higher rates on the bonds than is optimal), but there is likely to continue to be significant uncertainty around this for the foreseeable future (quarters rather than years clearly), which is likely to weigh on sentiment towards the share price in ST, even after the declines we've already seen. For those LT investors, hoping that the Lassonde Curve will out, this will likely provide a good entry point.
All my opinions of course!!
Posted at 29/11/2022 09:37 by mwj1959
Lewis - I think my point re ALK was that the share price went from around £1+ to over £3+ in relatively short order without any real game changing information (I don't regard the granting of (expected?) planning permission game changing. Financing clearly would be game changing, but I suspect that it still some way off.
Other than the (hopefully) benefits to the value of his 13m+ shares exposure to the share price what exactly is PA's incentivisation to get finance done by Q1? He has no outstanding share options as far as I can see from the 2022 Annual Report, so the only variable will be him meeting (unknown) KPIs linked to his potential 150% of salary bonus for the year. OK for most of us mere mortals a potential 150% on a near £300k salary is meaningful (and it's very (some would say far too) good money for a company that currently has no revenues forecast until 2025), but for PA, while it clearly would be nice to have, what really matters is what happens to the share price. If it goes back to say £1 he's nearly £7m richer (albeit unrealised).
Posted at 25/11/2022 17:26 by mikethebike4
I get the impression from the list of share dealings today that PRE share price is being manipulated
Pensana share price data is direct from the London Stock Exchange
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