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PM8, Pensana Metals
nipper
post Posted: Today, 01:54 PM
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Fundo Soberano de Angola, the Angolan Sovereign Wealth Fund has today agreed to make a further equity investment in the Company of approximately US$8.6 million.

The investment will be used to advance the Longonjo project as the first major rare earth mine to be developed in over a decade and to provide general working capital. The investment follows the FSdeA earlier investments in the Company in March and June this year and will increase the Fund's equity holding in the Company from 17.7% to 23.1%. These shares will rank pari passu with the existing Ordinary Shares in issue.

The Fund has agreed to subscribe for a further 13,500,000 ordinary shares to be issued at £0.5021 pence per share (A$0.91 cents per share) conditional upon Admission of those shares to the Official List and to the LSE's Main Market for listed securities. The subscription will raise gross proceeds of approximately US$8.6 million (A$12.23 million).

Accordingly, application has been made for the 13,500,00 New Ordinary Shares to be admitted to the Official List (Standard Segment) and to trading on the Main Market of the LSE and Admission is expected to occur on or around 8am on Thursday 1 October 2020. Application will also be made for the admission of these shares to the Australian Securities Exchange which is expected to occur on Friday 2 October 2020.

- isn't this a Takeover?



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Sep 17 2020, 05:54 PM
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In Reply To: denpal's post @ Sep 17 2020, 05:45 PM

closed on its high... $1.195 (was 7c only six months)



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
denpal
post Posted: Sep 17 2020, 05:45 PM
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In Reply To: denpal's post @ Sep 16 2020, 08:37 PM

The rate of upward progress continues, buying is relentless.The BFS is due next month, with good news expected on the financial metrics.
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denpal
post Posted: Sep 16 2020, 08:37 PM
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Closed at 1.095 today.

 
nipper
post Posted: Sep 14 2020, 04:53 PM
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In Reply To: denpal's post @ Sep 14 2020, 04:33 PM

thanks for updating on this. Angola sounds a challenge, the Lobito railway was upgraded by the Chinese and I suspect they will stick around, try and control production.


Now called Pensana Rare Earths. PM8

(I did not follow it subsequent to earlier posts)



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
denpal
post Posted: Sep 14 2020, 04:33 PM
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Well the good news flow continues, today we got the updated Mineral Resource Estimate, with the BFS due next month.

I still think in my unqualified opinion that the company is undervalued considering it already has a mining licence, has the Angolan sovereign wealth fund as a cornerstone investor, proven directors, red hot sector, infrastructure in place close by, and dig from surface big deposit. Oh, and an Engineering, design, construction and financing agreement.

The share price has risen from around 20c a few months ago to high 80ís now. So to a technical analyst it would look overbought.....

NB: This is listed on the UK LSE with a listing also on the ASX. It also trades in Frankfurt. The reason they moved to London was to get more exposure to investors who understood the rare earth sector and African investing. Aussies arenít interested in a rare earths play in Angola........but if you dig down with your research youíll end up with a lot of ticks and hardly any crosses. For example the directors, read their CVís.

DYOR, holder.


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denpal
post Posted: Aug 24 2019, 11:51 AM
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In Reply To: nipper's post @ Aug 23 2019, 06:42 PM

Here's an interesting article, which is exactly what Pensana is planning to do, sell the concentrate to China.
https://kalkinemedia.com/2019/08/23/chinas-...ayers-like-kta/
This is not a day-trading share, IMO it's a matter of getting set then waiting for the re-rates to kick in over the next year or so as milestones are reached. As an addititional kicker if China restricts rare earths exports as part of their response to the US's trade war, I would say there will be a mad scramble for REE assets globally. There was a bit of a play a couple of months back in juniors like ARU, PEK and GGG, but this fizzled out.




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nipper
post Posted: Aug 23 2019, 06:42 PM
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Listed in 2016, a few corporate actions. SP seems to be treading water

denpal writes
QUOTE
agree rare earths are a good play now. I've had shares in Pensana code PM8 for quite a while and believe it has great potential. Management are proven winners, they have a massive deposit in Angola close to all infrastructure, and plan to sell concentrate to China, and not going down the black hole of building a separation and refining plant. They think capex of $150M will get the mine running.

Events due are updated MRE and PFS shortly then a second listing on the LSE later this year. They've just had a ten for one share consolidation. Things are looking quite good.

Angola. NiPr deposit. Chinese interest. Always the hope of LSE listing



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 



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