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Pensana Rare Earths

Dynamo1
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Re: Pensana Rare Earths

#380233

Postby Dynamo1 » January 24th, 2021, 12:08 pm

Thanks for clarifying John. In that case Eft2 ignore what I said - it's been a while since I did this and the rules have changed - apologies. Cheers D1

PinkDalek
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Re: Pensana Rare Earths

#380249

Postby PinkDalek » January 24th, 2021, 12:48 pm

johnhemming wrote:
Dynamo1 wrote: Most brokers will do this for you (bed and breakfasting) for a small fee / spread.

Bed and breakfasting used to be a mechanism for crystalising some gain, but you now have to stay in bed for more than one night in fact 30 nights.

https://www.gov.uk/hmrc-internal-manual ... al/cg13370 ...


Yes but Dynamo1 was talking about Bed & ISA (the part before your extract stating I sell £20,000 from my trading account and put it into an ISA stocks and shares account where any gains are tax free.).

Agreed the 30+ days would apply unsheltered, which may be what Eft2 was asking.

Dynamo1
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Re: Pensana Rare Earths

#382385

Postby Dynamo1 » January 31st, 2021, 10:40 am

Shares in Issue Price £ MCap Exch rate US$ Mcap
203,645,822 0.88 179,208,323 1.37 245,515,403

Another disappointing week share price wise, as it drifted down as it became clear the BFS wasn't going to arrive by end of January as promised. Paul Atherley shouldn't make a habit of this as he will start to lose trust, especially with the City who I know get very tetchy about missed deadlines. Instead they advised in their quarterly activity report that a "Business Plan" will be forthcoming in the next few weeks which will include the BFS and will map out the mine to market strategy (see below). The market in general headed south towards the end of the week so we weren't alone.

*********** .TRUNCATED by dspp **************

So there we have it, Pensana have been busy over the past few months doing everything apart from ensuring the BFS is ready on time. The delay is disappointing but in the grand scheme of things won't matter for long-term investors. Paul also advised previously that the Company would break ground in January, but that perhaps is something else that has slipped his mind. At least the Business Plan "forthcoming in the next few weeks" isn't too time specific so he should meet that target sometime before Christmas...



Moderator Message:
truncated, see my 11-Dec-20 moderation comment, dspp

dspp
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Re: Pensana Rare Earths

#382585

Postby dspp » January 31st, 2021, 10:10 pm

Dynamo1 wrote:Shares in Issue Price £ MCap Exch rate US$ Mcap
203,645,822 0.88 179,208,323 1.37 245,515,403

Another disappointing week share price wise, as it drifted down as it became clear the BFS wasn't going to arrive by end of January as promised. Paul Atherley shouldn't make a habit of this as he will start to lose trust, especially with the City who I know get very tetchy about missed deadlines. Instead they advised in their quarterly activity report that a "Business Plan" will be forthcoming in the next few weeks which will include the BFS and will map out the mine to market strategy (see below). The market in general headed south towards the end of the week so we weren't alone. ......


Moderator Message:
truncated, see my 11-Dec-20 moderation comment, dspp

dspp
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Re: Pensana Rare Earths

#382590

Postby dspp » January 31st, 2021, 10:13 pm

Dynamo1 wrote:Shares in Issue ....


Moderator Message:
dynamo, My attention was brought here by a user alert. Please go see my 11-Dec-20 moderation comment. Please don't do this again. Use your own words, make brief fair use quotes only, provide links in accordance with the this (TLF) sites Ts & Cs). thank you, dspp


Moderator Message:
truncated, see my 11-Dec-20 moderation comment, dspp

GrahamPlatt
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Re: Pensana Rare Earths

#382620

Postby GrahamPlatt » February 1st, 2021, 5:20 am

But please do carry on posting. A pity you’ve been “sanctioned” - I’m following with interest here.

Dynamo1
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Re: Pensana Rare Earths

#382661

Postby Dynamo1 » February 1st, 2021, 9:48 am

DSPP not sure what I've done wrong here. The text was what the Company sent out to all shareholders - so is not copyright is it??? I would of thought they would want the story out to as many people as possible. If I'm wrong apologies.

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Re: Pensana Rare Earths

#382666

Postby dspp » February 1st, 2021, 9:59 am

GrahamPlatt wrote:But please do carry on posting. A pity you’ve been “sanctioned” - I’m following with interest here.


1. Indeed, please carry on posting.

2. The "sanctions" are in order to protect the continued availability of TLF. Please read the Ts & Cs re copyright. Failure to comply risks loss of TLF to all users.

3. I'll drop you (dynamo) a PM shortly.

regards, dspp

everhopeful
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Re: Pensana Rare Earths

#382668

Postby everhopeful » February 1st, 2021, 10:03 am

Please do carry on posting.
It would be nice to know exactly what aspect of Dynamo's post was felt to be infringing copyright when it was all in the public domain.

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Re: Pensana Rare Earths

#382737

Postby everhopeful » February 1st, 2021, 12:16 pm

I have now read the "Rules" around copyright on the site and I can understand why the Moderator acted. Better safe than sorry but please keep us up to date Dynamo.
It is disappointing that the BFS didn't appear. I am now wondering if I should now quit while ahead.

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Re: Pensana Rare Earths

#382741

Postby dspp » February 1st, 2021, 12:30 pm

Quick message to all :

You can quote from (https://pensana.co.uk/wp-content/upload ... proval.pdf) with no problem as it is directly from the company's own literature, or for that matter from other company public literature*. However please help by doing the following:

1. Always put the source URL.
2. Always make it clear where the text is coming from.
3. Please put what you are quoting in a different text style than your own commentary and (if there is a lot of it) sectioned off by delimeters (====, *****, -----) so that all readers can always discriminate between what your opinion is, vs anything you are quoting from. You can also use colour if you want.
4. All that is on the basis of you all being personal investors, not contracted marketing support or etc.

My apologies if I have trampled on some perfectly good posts of some of you. I'll try to discriminate more carefully next time. I generally prefer to err on the side of caution to protect the ongoing availability of TLF so please excuse me if I have been too quick to trim any of you back.

regards, dspp [as a Mod]

* It is trickier if you cite a URL that is coming from a news source, even if they are regurgitating the company blurb (unless it is the company PR firm, in which case say so). If you are citing from a commercial news source such as Bl**berg, XT, whatever, then please only put a limited amount of text such as is permissible under copyright fair use clauses.

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Re: Pensana Rare Earths

#382745

Postby Dynamo1 » February 1st, 2021, 12:48 pm

everhopeful wrote:I have now read the "Rules" around copyright on the site and I can understand why the Moderator acted. Better safe than sorry but please keep us up to date Dynamo.
It is disappointing that the BFS didn't appear. I am now wondering if I should now quit while ahead.


I agree, I'm not impressed about the BFS delay. As to whether you should quit, I can't say - personally I am hanging on for the BFS and then will decide. It all depends on personal circumstance, it's difficult holding onto a share when its price is slipping away but that's the market. Rare earths shortfall must have a bearing on companies that are producing. As soon as PRE is producing then we're off to the races....but Paul's deadline slippage is a concern.

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Re: Pensana Rare Earths

#383609

Postby spasmodicus » February 4th, 2021, 11:40 am

Dynamo1 wrote:
I agree, I'm not impressed about the BFS delay. As to whether you should quit, I can't say - personally I am hanging on for the BFS and then will decide. It all depends on personal circumstance, it's difficult holding onto a share when its price is slipping away but that's the market. Rare earths shortfall must have a bearing on companies that are producing. As soon as PRE is producing then we're off to the races....but Paul's deadline slippage is a concern.


Activity in the USA might explain the recent modest recovery in PRE (I have a small holding) and other rare earth producers

https://www.mining.com/web/usa-rare-earth-to-explore-public-offering-at-value-over-1-billion/

Joe Biden is reportedly keen on strategic minerals independence for the USA. We don't hear much in the way of strategic thinking like that back in the UK, except possibly with regard to coking coal. As for PRE's BFS, aka business plan, the PRE website quotes 12 to 18 months between "investment decision" and first production for the Saltend plant, so there's a long way to go before any revenue is generated. I ask myself what the holdup might be, as most of the risk in such a venture is surely associated with exploration for the ore to feed the processing plant?

VanEck Vectors Rare Earth/Strat Mtls ETF (REMX) is a useful indicator of the level of global enthusiam for rare earths. The top holdings in it are mostly Chinese, so there seems to be some room for some new Western producers, if what we are told about demand for magnet ingredients turns out to be true.

S

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Re: Pensana Rare Earths

#383708

Postby Dynamo1 » February 4th, 2021, 5:41 pm

Yes it's getting interesting!!!
USA Rare Earth LLC potentially listing; the U.S. Department of Defence awarding $30.4 million to Australia’s Lynas Rare Earths Ltd to build a Texas facility for processing specialised minerals used to make weapons, electronics and other goods; plus MP Materials listing and doubling in value show that the U.S. are getting serious about their rare earth element supply. That gap between supply and demand will be rapidly closing if all the new rare earth projects move to production soon... Thing is, it takes a lot of time and money (and hot air) before a company moves from planning to production.

For my research I also use the Rare Earth Observer (published in Singapore) which sometimes paints a more thoughtful picture on the Industry, they also pose more questions than you are likely to hear from other sources. After all you need to hear both good and bad before making an investment decision.

https://treo.substack.com/p/us-re-compo ... Xhy34HOmbQ

I am interested in the comment:

"‘More expensive’ tells us, that the feasibility study may be arriving soon. In terms of ‘ecologically sound’ and in terms of REIA sustainability aspirations it would be really important to understand, how Pensana want to handle the thorium issue of Longonjo."

Anyway, once the Business Plan is released we will hopefully be able compare like for like with other rare earth companies and put a realistic valuation on Pensana. I will leave it to the mining experts to dissect the elements, grades and volumes, not my area of expertise I'm afraid...

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Re: Pensana Rare Earths

#383902

Postby Dynamo1 » February 5th, 2021, 5:00 pm

For those of you who cannot get enough of Pensana and would like some weekend reading here is the link to the Saltend planning application. Identifies what they are planning to do there and provides outlines of facility design and location.

Erection of a processing facility producing 4500 tonnes of Rare Earth Oxides following demolition of four existing storage tanks at the land west of building M240 and land north of control room CR4, Saltend Chemicals Park, Saltend Lane, Saltend. The proposed facility will be located within a plot sized at 22.72 acres on land allocated for development by SCPL and known as the Abadan site and on a tank farm plot space (TF121), 1.15 acres in size.

https://newplanningaccess.eastriding.go ... ingaccess/

Enter Reference: 21/00153/CM and then have a look in the "Documents" tab (currently 24 of them). The Planning Support Statement is a good start...note you get logged out after one hour. Interesting read from a technical perspective.

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Re: Pensana Rare Earths

#384140

Postby spasmodicus » February 6th, 2021, 12:13 pm

Dynamo1 wrote:For those of you who cannot get enough of Pensana and would like some weekend reading here is the link to the Saltend planning application. Identifies what they are planning to do there and provides outlines of facility design and location.

Erection of a processing facility producing 4500 tonnes of Rare Earth Oxides following demolition of four existing storage tanks at the land west of building M240 and land north of control room CR4, Saltend Chemicals Park, Saltend Lane, Saltend. The proposed facility will be located within a plot sized at 22.72 acres on land allocated for development by SCPL and known as the Abadan site and on a tank farm plot space (TF121), 1.15 acres in size.

https://newplanningaccess.eastriding.go ... ingaccess/

Enter Reference: 21/00153/CM and then have a look in the "Documents" tab (currently 24 of them). The Planning Support Statement is a good start...note you get logged out after one hour. Interesting read from a technical perspective.


Thanks for that, Dynamo1. The planning application contains a lot of pretty mundane stuff. Whilst such things can come unstuck if Pensana are unlucky enough to encounter stroppy environmentalists (e.g. who find some previously unreported endangered species on the site), the main risk would seem to be related to the financing of the Longojo mine and even the processing plant by the Chinese. It is summed up pretty well here
https://www.investorschronicle.co.uk/shares/2020/11/19/let-s-get-political-rare-earths-miners-need-to-pick-sides/
I think that this article may be behind a paywall, as the link didn't work when I clicked a second time, however, it raises the question
But Pensana’s mine, Longonjo, will likely be funded by the Chinese. This raises the question of why the government of Xi Jinping – through a state-owned enterprise – would pay for a project sending a strategic resource to the UK and Europe?

I wonder whether the delay in the BFS (Banking Feasibility Study) is due to cold feet over the implications of the above.

regards,
S

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Re: Pensana Rare Earths

#384207

Postby Dynamo1 » February 6th, 2021, 3:45 pm

Thanks spasmodicus, the link works if you paste it into the Google search engine. The reason why the Chinese will part-fund the mine is because it is my belief that not all of the mined resource will go direct to the Saltend processing facility. Some will still be sent to China (maybe to pay off some of the debt). Another thing, China has paid for almost all of the recent infrastructure build in Angola; roads, rail and recently upgraded Port of Lobito. Angola owes China billions of US$, there are paying it off with shipments of oil and they may also include NdPr when it is available.

The Longonjo neodymium-praseodymium project is starting to take shape, with production scheduled to begin in 2022. President João Lourenço has high hopes for this project, which he believes could become a flagship achievement of his mining reforms. He has a huge interest in Pensana as does the Angolan Sovereign Wealth Fund - I am sure that the Longonjo financing deal will include detail relating to exports to China. I heard Paul Atherley mention in a recent interview that most of the rare earth oxide will go to Saltend to be processed (he didn't say all)....

Shares in Issue Price £ MCap Exch rate US$ Mcap
203,645,822 0.84 £171,062,490 1.37 US$234,355,612

The shareprice dropped a fair amount earlier this week although there was a strong bounce on Thursday. It dropped again on Friday to around 84p where I think it will hang around until the Business Plan is released (cue major bounce or decline...). As a holder of PRE shares my (less than impartial) view would be that it is a good level and time to buy these shares. I have a six-month target of £1.60. When this does take off, it will do so quickly with the catalyst being the "Business Plan" / BFS.

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Re: Pensana Rare Earths

#385011

Postby everhopeful » February 9th, 2021, 11:10 am

A rise in share price today following yesterday's announcements. The change of name is neither here nor there but there will apparently be a Business plan by the end of the month. I am not sure if this is different from the the BFS or if it incorporates it. I am still hanging in there.

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Re: Pensana Rare Earths

#386344

Postby Dynamo1 » February 13th, 2021, 11:14 am

Planning permission for the Saltend rare earth oxide facility got a boost during the week with support from Hull City Council.

John Craig MRTPI wrote:Application Ref: 21/00153/CM

Case Officer: Mr Matthew Sunman

Proposal: Erection of a processing facility producing 4500 tonnes of Rare Earth Oxides following demolition of 4 existing storage tanks

Address: Land West Of Building M240 And Land North Of Control Room CR4 Saltend Chemicals Park Saltend Lane Saltend East Riding Of Yorkshire HU12 8PP

Thank you for consulting Hull City Council inviting comments on the above application. The production of rare earth oxides is vital for decarbonisation as they are a critical element in battery technology and wind turbines, and therefore the application is in line with both Hull and the East Riding of Yorkshire Councils’ aspirations for Green Port Hull, establishing Hull and the East Riding as a world class centre for renewable energy.

The proposed site is close to the East Riding of Yorkshire Council’s Local Plan Key Employment Site HAV-A. In allocating this site, the East Riding Council recognised the potential impact on the transport network that development in this area could have, and as a result seeks to ensure this is minimised through Policy HAV-A (b), which in turn is supported by paragraphs 23.7 and 23.8 of the East Riding Allocations Document. We would like re-assurance that this proposal does not prevent the opportunities identified to link the wider Hedon Haven employment site to the main port.

Hull City Council Climate Change and De-Carbonisation Officers have had discussions with the applicants and understand that whilst the current application is for a processing plant, there would, in the future, be the scope to include a recycling and reprocessing facility, creating a circular business model. This would make the Humber the largest manufacturer of these types of rare earth oxides outside of China, and would enable the Humber to start to operate a whole life model for wind turbines from deployment to recycling for elements in the nacelle units. This could subsequently lead to other investors looking to other parts of the turbine decommissioning sector for recycling/ reprocessing.

Subject to traffic implications above being satisfactorily addressed, Hull City Council strongly supports this application.

https://newplanningaccess.eastriding.gov.uk/newplanningaccess/applicationDetails.do?activeTab=documents&keyVal=QMXKUXBJICX00

Shares in Issue Price £ MCap Exch rate US$ Mcap
203,645,822 0.9 £183,281,240 1.38 US$252,928,111

Nothing much to report this week on the shareprice. A good start to the week but then gradually fell away on low volumes. Still, it was up 6p on the week so shouldn't complain.

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Re: Pensana Rare Earths

#387384

Postby Dynamo1 » February 17th, 2021, 9:48 am

https://www.standard.co.uk/business/the ... 20036.html

The UK rare earth companies starting to make headlines in the papers. Quite a basic outline but tells you where everyone is at. Even mentions the "bizarre" move to remove Rare Earths from the Company title which I questioned a few weeks back.

Article covers Rainbow, Mkango and Pensana.


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